Standard Chartered has partnered with Temenos, a banking software provider based in Geneva, Switzerland, to list its foreign exchange API service – Standard Chartered Aggregated Liquidity Engine ( Scale ) – on the Temenos Exchange.

The collaboration brings together Standard Chartered’s solution offering FX execution and settlement with Temenos’ core banking and payments technology via an integration.

This enables financial institutions ( FIs ) on the Temenos platform to enhance their services and implement the bank’s FX services more efficiently with fewer requirements on technology resources.

This is particularly beneficial for retail banks, wealth managers and payment providers handling low-value or high-volume transactions that sit outside their treasury function.

Through this integration, Standard Chartered says, FIs will benefit from a faster go-to-market in accessing its extensive currency offering, allowing them to price services across more than 130 currencies and 5,000 currency pairs while managing exposure risks to FX market volatility.

Having access to the bank’s advanced FX and payment capabilities also allows FIs to be in full control of FX margins applied to their customers’ transactions.

Additionally, when combined with Temenos Payment Hub, the integration will allow FIs to consolidate the Scale FX service with other domestic and international payment rails on a single platform, connecting multiple payment sources, channels, clearing networks, and distribution services.

Cross-border payments have seen rapid growth amid the rise of digital commerce. The market is projected to reach US$320 trillion by 2032, from US$194 trillion at present. By offering seamless, fast, and cost-effective international transactions, banks can capture a larger share of this high-growth market and attract new customers.