Standard Chartered launches new Banking Solution in Indonesia

Standard Chartered has been reported to be launching a new banking solution, Nexus, in Indonesia.

The solution will allow digital platforms and ecosystems to offer loans, credit cards and savings accounts that are co-created with the bank, according to a press release.

The Nexus solution is anticipated to be launching in 2021, with an e-commerce platform based in Indonesia alleged to be the Bank’s first partner to the new solution.

Through the new system, the Bank, according to Andrew Chia, CEO, Indonesia, Standard Chartered, will be able to acquire and serve the affluent and emerging affluent clients.

Bill Winters, Group CEO, Standard Chartered, said “We will actively partner with leading consumer platforms in our markets to enable convenient access to financial services to millions of new, tech-savvy customers.”

Winters added that the Nexus solutions is potentially a ‘transformational’ platform for both Standard Chartered and its clients.

Alongside its Indonesian launch, Standard Chartered hopes to bring the Nexus platform to Asia, Africa and the Middle East, targeting an e-commerce platform valued as USD29 trillion, according to bank valuations.