UK-based bank Standard Chartered has launched SC PrismFX, its cross-currency transactional foreign exchange ( FX ) solutions suite, which is available for financial institution ( FI ), non-banking financial institution ( NBFI ), paytech and corporate clients globally.

The suite integrates the bank’s digital, integrated transaction banking, financial markets and digital platform capabilities under one brand name to deliver FX payment services to its clients across over 130 currencies in more than 40 markets.

For corporate clients, the suite provides a consistent transactional FX payments experience across the bank’s markets globally, it says, “with competitive FX pricing and expert emerging markets insights coupled with a suite of advanced payables, receivables and trade finance solutions”.

For paytech clients, the suite provides an extensive distribution and payments network across developed and emerging markets, connectivity to local and instant payment schemes, and “a variety of digital FX solutions seamlessly integrated into client journeys for a superior customer experience”. 

With the suite, FI and NBFI clients, the bank notes, can benefit from the convenience and efficiency of a single provider offering the widest suite of FX currencies and upfront FX rate visibility and transparency to enable clients to have full control over margins and rates for their own customers.

Additionally, clients can benefit from automated FX payments with faster multi-destination delivery, auto FX conversion solution, and seamless integration with minimal operating process changes and set-up costs.

“Beyond mainstream settlement and payment currencies, corporate, FIs and paytech clients are increasingly transacting in emerging markets currencies,” adds Michael Spiegel, the bank’s global head of transaction banking. “The suite offers clients access to a robust payment distribution network with direct clearing across multiple domestic schemes.