21/09/2023 05:27 PM

KUALA LUMPUR, Sept 21 (Bernama) -- SC Ventures, the innovation and ventures arm of Standard Chartered, has launched audax Financial Technology (audax), a digital banking technology solutions provider.

According to a statement, audax is designed to empower banks and financial institutions to accelerate their digital transformation, deliver new business models, serve new customer segments and derive new revenue streams.

Providing an end-to-end digital banking platform with modularised capabilities that are designed to efficiently handle millions of customer data concurrently, its plug-and-play solution serves the entire client lifecycle.

Built to complement incumbent banks’ core systems, audax’s infrastructure-agnostic technology also enables banks to pursue modern digital transformation without the need for costly and time-consuming in-house development or migration.

Prior to launch, its solution powered Standard Chartered nexus (SC nexus), a white-label plug-and-play Banking-as-a-Service (BaaS) offering for large ecosystem players, in which Standard Chartered Bank was the first global bank to provide BaaS in Asia, via SC nexus.

The launch follows audax’s successful commercialisation of its BaaS offerings for Standard Chartered with leading Indonesian all-commerce platform Bukalapak.

SC nexus former Managing Director and Global Head, Kelvin Tan will lead audax as its Chief Executive Officer, together with most of his incumbent team, whereby audax will continue to serve Standard Chartered in a commercial capacity by powering its BaaS proposition, SC nexus, for current and future partnerships.

Headquartered in Singapore, audax aims to become a home-grown global technology company, focusing on accelerating the technology ecosystem starting with the Asia Pacific region, with a mission to empower banks and financial institutions to scale and modernise at speed with its digital banking capabilities.


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