SC Ventures launches new digital banking technology provider

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SC Ventures, which is Standard Chartered’s division focusing on innovation, fintech investments, and fostering startups, has introduced a new digital banking technology solutions provider called Audax Financial Technology.

Audax is designed to serve as a ready-to-use digital banking technology platform. Its aim is to enable banks and financial institutions to speed up their digital transformation efforts, introduce new business models, cater to new customer segments, and generate fresh sources of revenue.

Audax will provide a comprehensive range of banking capabilities covering the entire client lifecycle. Additionally, it will offer technology that is compatible with various infrastructure setups, making it possible for banks to seamlessly integrate digital banking features into their existing systems.

This launch follows the successful implementation of the core technology stack by Standard Chartered Nexus, in collaboration with the Indonesian e-commerce giant Bukalapak.

We are excited to push the frontiers of what is considered possible. audax has showcased the potential of BaaS and how it has scaled the digital business for Standard Chartered, enabling them to acquire new-to-bank customers at a fraction of traditional customer acquisition costs,” Kelvin Tan, the CEO of Audax commented.

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