Standard Chartered is set to unveil the initial phase of its integration plan in the Middle East and North Africa. This forward-looking move aims to bolster the bank’s service offerings for investment funds and asset managers.
What is Distributed Ledger Technology (DLT)?
At the heart of this transformative endeavor lies the instrumental role of Distributed Ledger Technology (DLT), a powerful tool that fortifies linkages between stakeholders, amplifies transparency, and streamlines fund distribution and operations. The integration of FundsDLT serves as a testament to Standard Chartered’s unwavering commitment to innovation within the global asset and securities services arena. This undertaking is specifically tailored to tackle the challenges posed by manual-intensive transfer agency processes and the evolving landscape of retail fund distribution.
Standard Chartered is strategically leveraging FundsDLT’s cutting-edge, regulated, and secure cloud and blockchain-based transfer agency software. The objective is clear: to empower asset managers with advanced digital capabilities, enabling them to efficiently and innovatively cater to their clients and drive innovation in DLT through bank-fintech partnership.
FundsDLT’s platform stands out for its robust technical framework and secure infrastructure, aligning seamlessly with Standard Chartered’s commitment to delivering not just efficient but state-of-the-art front-to-back solutions. This authoritative move underscores Standard Chartered’s position at the forefront of industry innovation, poised to reshape the dynamics of fund distribution and transfer agency services on a global scale.
Olivier Portenseigne, CEO of FundsDLT, commented: “This collaboration with Standard Chartered underscores a mutual commitment to driving digital innovation in the fund industry and is a pragmatic approach to streamline operations and enhance service delivery. We are confident that this integration will offer a more efficient and comprehensive solution for asset managers.”
Ying Ying Tan, Global Head of Products – Financing & Securities Services at Standard Chartered, said: “With an unrivalled coverage across Asia, Africa and the Middle East for our fund services, we continuously look to deliver innovative solutions that can support asset managers and their clients in achieving both cost and processing efficiencies. Our collaboration with FundsDLT builds on this objective by transforming traditional transfer agency services into a model that offers streamlined and accelerated processes as well as reduced operational cost.”
To know more about other trending usecases in the US financial services industry, like Generative AI, Open Banking, Buy Now Pay Later (BNPL), explore our other insights.
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