SC Ventures' Audax Financial Technology Tastes Success Prior To Official Launch
Portfolio Pulse from Khyathi Dalal
Standard Chartered's innovation arm, SC Ventures, has launched a digital banking technology solutions provider, Audax Financial Technology. The Singapore-based company aims to assist banks in their digital transformation by creating new business models and seeking new revenue avenues. Audax will continue to serve Standard Chartered by powering its Banking-as-a-Service (BaaS) proposition, SC nexus. The B2B2X market, which Audax is part of, is expected to reach $440 billion in annual revenues by 2030.
September 21, 2023 | 10:45 pm
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Standard Chartered's new venture, Audax Financial Technology, is expected to contribute to the bank's digital transformation and revenue growth. The B2B2X market, which Audax is part of, is projected to reach $440 billion by 2030, indicating potential growth opportunities for Standard Chartered.
The launch of Audax Financial Technology by SC Ventures, a part of Standard Chartered, is a significant step towards the bank's digital transformation. Audax will power Standard Chartered's BaaS proposition, SC nexus, which could lead to new revenue streams for the bank. Furthermore, the B2B2X market, which Audax is part of, is expected to reach $440 billion by 2030, indicating a huge growth potential. This could positively impact Standard Chartered's stock in the short term.
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