Stanchart, FinLync join hands to facilitate API adoption by corporate treasury teams
- ByStartupStory | October 2, 2021
Standard Chartered and FinLync, a global fintech company, on Thursday announced their partnership to enable corporate treasury and finance teams to rapidly and easily connect to the latter’s application programming interface (API) offerings.
This will allow corporates to make decisions based on faster, more frequent and more accurate information, all of which provide an edge over their competition without the substantial time and financial investments typically required in such integration projects.
According to a statement, this partnership reflects FinLync’s role as a market leader in bank API connectivity and Standard Chartered’s commitment to develop API offerings that allow corporate treasurers 24×7 access to critical information for better control and visibility.
Philip Panaino, Global Head of Cash Management at Standard Chartered said, “Beyond building APIs, we understand the need to take the next step to ensure that corporates can access these solutions in a fast, secure and easy-to-use way, to reap the benefits of this seamless connection to be fully distributed.
“We are excited to be working with FinLync, a leading authority in bank API connectivity, and believe this partnership will help our customers unlock greater value from the market-leading APIs they develop for the corporate finance industry.” he added.
Philip Klein, co-founder and CEO of FinLync, said that in response to the need of the market, many financial institutions today are actively building bank APIs that can bring efficiencies to a myriad of tasks for corporates.
“To get value from bank APIs, companies have to connect them to their end solution, usually an ERP. Building these connections from scratch is a long and expensive process that can take months or even years for just one API. FinLync turns this previously complex connectivity challenge into a simple plug-and-play process,” Klein said.
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