Standard Chartered taps SAP Multi-Bank Connectivity cloud solution for corporate-to-bank integration

Published 

Singapore – Standard Chartered has tapped the SAP Multi-Bank Connectivity solution and joined as a member bank, aiming to offer an enhanced experience to corporate clients in meeting their transactional banking needs, simplifying the onboarding process, and delivering both traditional and new banking services in real time.

Over the last decade, corporates have demanded more from their banks in terms of connectivity, interface, and the amount of information received to support the integration with their enterprise resource planning, treasury and cash management needs. The global pandemic has further accelerated the shift to digital banking, resulting in a greater need for both corporates and their banking partners to automate and support real time payments.

SAP Multi-Bank Connectivity is a software-as-a-service cloud solution natively integrated to SAP S/4HANA and SAP ERP which is targeted at simplifying connectivity and automating financial transactions between businesses and their financial institutions. By joining the community, Standard Chartered’s clients who are already part of the corporate network can be onboarded into a digital experience including end-to-end payment processes, automated reconciliation, and real time updated cash position.

Standard Chartered is also among the pioneering banks supporting application programming interface (API) with SAP Multi-Bank Connectivity, which aims to offer on-demand real time debit and credit notification when cash is received by clients in their banking account, and trigger a subsequent workflow to replenish a customer’s credit line to enable new purchases or for goods shipment to occur.

Philip Panaino, Global Head, Cash Management at Standard Chartered, said: “We are excited to be a part of the SAP Multi-Bank Connectivity offering, and bring the ease and security of digital connectivity to our clients in an ecosystem that they are already a part of. This collaboration extended beyond historical connectivity to include our first API-enabled account notifications functionality via the SAP corporate-to-bank channel, and we are not stopping here – we will continue to explore a wide variety of use cases where APIs can deliver greater agility, speed and productivity for our corporate clients and partners.”

“In this era of the ‘never normal’, organisations like Standard Chartered have embraced a cloud-first mindset to truly become an intelligent enterprise to support its business transformation strategy, and to drive sustainable, inclusive growth as financial ecosystems increasingly becomes more competitive,” said Eileen Chua, Managing Director, SAP Singapore.

“With SAP Multi-Bank Connectivity solution, Standard Chartered can better achieve its goals of leveraging the power of the cloud and a robust digital core, streamlining and automating communications with banks around the world, and simplifying treasury operations and better managing its cash assets,” added Chua.

Innovation is core to Standard Chartered’s strategy, as outlined at the Bank’s Innovation & Digitisation event on how it is shifting investment to new platforms, partnerships and ventures that will shape the future of the business. The Bank has expanded its relationship with the SAP ecosystem following a strategic collaboration with SAP Ariba in 2019, that intended to build on its ability to offer clients access to an on demand treasury experience within their existing environment and drive rapid adoption of its comprehensive suite of APIs.

Most recent episodes

£15 Billion Stimulus Pumped into UK Economy to Ward Off Recession Fears

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 7th June...

04:44

Advantage Treasury

Eleanor Hill is joined in the virtual TreasuryCast studio by Nicolas Cailly and Philippe Penichou (Societe Generale) to look at treasury trend predictions for the remainder of 2022, with a particular focus on virtual accounts. In this deep dive into current and future treasury priorities, our guests...

24:22

40th Annual New York Cash Exchange: What Can Treasurers Expect?

Ahead of the 40th annual New York Cash Exchange, two of TMANY's distinguished board members, David Miller and Timothy T. Hesler, CTP, provide TMI CEO, Robin Page, with a quickfire rundown of what attendees can expect from this year’s conference. Our guests share their aspirations for the event, explain...

09:58

Expectation-Beating Inflation Prints Ratchet Up Pressure on Monetary Policy

Welcome to the third edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 9th May...

04:48

Making the Sustainable Transition: A Roadmap to ESG in Treasury

Over the last 18 months, Societe Generale has experienced a steady increase in requests from their corporate clients to integrate ESG features in treasury management.  Louis-David Rouyer, Philippe Pougeard, and Emmanuelle Petelle (Societe Generale) provide TMI's Eleanor Hill with a whistlestop run...

22:24

Lift Off for Fed Rate Rises

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 5th of...

04:58

Treasury in 2022 and Beyond

Industry experts Bob Stark (Kyriba) and Sebastian di Paola (PwC) join TMI's Editor, Eleanor Hill, to explore the very latest treasury trends - and to discuss how smart treasurers can get ahead of th...

43:21

How BearingPoint Harnessed Data-Driven Forecasting with CashAnalytics and SAP

Listen back to our recent forecasting masterclass, where Group Treasurer Eveline Stam, and Conor Deegan (CashAnalytics) provided TMI's Eleanor Hill with a comprehensive overview of how consultancy firm BearingPoint achieved company-wide cash forecasting nirvana by combining specialist solutions from...

37:14

The 3 T’s of The Future: Tech, Treasury, and Transformation

Over the past two years, an increasingly dynamic environment has not only accelerated technology development – from quantum computing to blockchain technology, and even the metaverse – but also technology adoption, bridging colleagues and breaking down silos in a remote work world. In this podcast,...

44:02

Monetary Policy Continues to Drive Markets as Ukraine Invasion Weighs on March Meetings

Welcome to the second edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 3rd of...

05:25