Standard Chartered Creates Unit to Invest in FinTech

The new unit will be led by Alex Manson, previously global head of transaction banking at StanChart
17 January 2018   1934

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.


Michael Gorriz

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.

Binance to Join Forces With IdentityMind

IdentityMind provides exchanges with ability to comply with KYC\AML worldwide
26 March 2019   79

Binance announced an agreement with IdentityMind, which will help it ensure compliance with regulatory requirements and improve data security.

IdentityMind provides cryptocurrency exchanges with access to the platform, thanks to which they can monitor compliance with customer identification and anti-money laundering requirements in real time. This includes connecting new customers, managing their profiles and monitoring transactions.

The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it. We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.

Samuel Lim

Chief Compliance Officer, Binance

Last year, Bloomberg wrote about the Binance user identification system as the least strict in the entire industry, and linked the “level of anonymity” provided by the exchange with the risks of money laundering and market manipulation.

In October, Binance entered into an agreement with a supplier of transaction analysis software on the blockchains Chainalysis, and in November with Refinitiv, which developed an automated solution for client verification.

Whether the ordinary users of the platform will feel the impact of the integration of IdentityMind tools on themselves, the exchange does not specify.