22/09/2023 (Malaysia) - SC Ventures, the progressive ventures segment of Standard Chartered, has introduced audax Financial Technology (audax), setting a new benchmark in digital banking solutions.
The essence of audax lies in its empowering capability for banks and financial entities. It promises to expedite their transition to a digital model, allowing them to adapt to new business avenues, cater to an evolving clientele, and tap into fresh revenue sources.
A standout feature of audax is its all-encompassing digital banking platform, built with modular functionalities. This ensures that it can effectively process data from millions of customers simultaneously. As a plug-and-play solution, it oversees the entire client journey, ensuring an enhanced user experience.
But what sets audax apart is its universal compatibility. While it supplements traditional banking core systems, its neutral infrastructure ensures that banks can embrace a contemporary digital transformation. This does away with the otherwise hefty costs and prolonged durations associated with in-house development or system migration.
Audax is not new to the digital domain. Before its official introduction, it was the driving force behind Standard Chartered nexus (SC nexus), a pioneering white-label Banking-as-a-Service (BaaS) module. Notably, through SC nexus, Standard Chartered Bank set a precedent, becoming the premier global bank to offer BaaS in Asia.
This initiative comes on the heels of audax’s triumphant commercial ventures. It recently propelled Standard Chartered's BaaS offerings, collaborating with Indonesia's leading all-commerce entity, Bukalapak.
At the helm of audax will be Kelvin Tan, previously the Global Head and Managing Director of SC nexus. Assisting him will be his proficient core team. Under their stewardship, audax will continue its commercial liaison with Standard Chartered, fortifying the BaaS proposition, SC nexus, for both existing and forthcoming alliances.
Stationed in Singapore, audax envisions becoming a native technology titan with a global footprint. Its primary focus is bolstering the tech ecosystem, with an immediate emphasis on the Asia Pacific zone. The overarching mission? To capacitate banks and financial institutions to upscale and contemporize promptly, leveraging audax's avant-garde digital banking expertise.