Standard Chartered launches Application Programming Interface in Saudi Arabia

Standard Chartered launches Application Programming Interface in Saudi Arabia

Riyadh – Standard Chartered Bank Saudi Arabia successfully launched application programming interface / API to meet the evolving needs of customers. Clients and partners will be able to share and integrate data securely in real time, helping create new financial services, and boosting the Bank’s ability to increase value for its customers.

In line with the Kingdom’s Vision 2030 and the country’s aim to be a regional digital hub by expanding digitalisation and innovation across the country’s banking and financial sectors, businesses across any industry in the country will now be able to connect into a host of new capabilities. This includes digitising treasury, integration of banking capabilities into ERP operations, implementing digital business models, process automation, automated reconciliation and enabling point-to-point integration.

In a country where 60 per cent of the population is below the age of 30, and whose population are digitally savvy, the launch of the Bank’s application programming interface / API platform comes at a time of increased demand for digital transformation, innovation and customer-centric approaches. The launch also supports Saudi Arabia’s recent open banking policy which is set to take effect this year. The policy aims to create an ecosystem with the Kingdom’s financial institutions to support