Standard Chartered announced on January 17 that it has established a new business unit, SC Ventures, to lead digital innovation across the Group, invest in fintech and other start-up companies and promote rapid testing and implementation of new business models.
SC Ventures will be led by Alex Manson, previously global head of transaction banking at StanChart. The company will include internal consultants to help the rest of the group solve problems with technology and a team to sponsor and oversee new disruptive technology ventures owned by StanChart.
As new technology continues to play an ever more important role in banking, there is a huge opportunity for us to promote more innovation, and at the same time develop and deliver digital solutions that work for our clients and for us.
Group Chief Information Officer of Standard Chartered
Standard Chartered has already launched a new cross-border payments platform built on top of technology developed by Ripple and the company has also entered into a joint innovation agreement with Paxata, a software company.