Standard Chartered partners with Dandelion Payments to expand cross-border disbursement capabilities across multiple currencies and digital wallets
Standard Chartered has partnered with Dandelion Payments to expand cross-border disbursement capabilities across multiple currencies and digital wallets
The collaboration will enable the bank to provide clients with a broader range of destination currencies, reaching both bank account and digital wallet endpoints
Expanding payment infrastructure
Cross-border payment networks have transformed in recent years, moving beyond traditional correspondent banking to embrace technological innovation and real-time settlement.
Dandelion’s extensive payments infrastructure enables last-mile delivery through domestic ACH, instant payment systems and direct digital wallet connections.
This partnership meets the growing demand for global cross-border payments and complements traditional transfers to bank accounts.
By combining Standard Chartered’s PrismFX with Dandelion’s network, clients can execute foreign exchange payments more efficiently across multiple markets and endpoints.
Strategic innovation in payments
This strategic collaboration underscores Standard Chartered’s commitment to innovation in cross-border payments, aiming to create a seamless international payments and foreign exchange experience that delivers speed, cost efficiency and transparency.
The development brings sharper focus to how cross-border payment technology can help companies make more effective financial decisions internationally.
Global cross-border spending stood at US$194.6trn in 2024 and projections indicate it will rise to US$320 trillion by 2032, yet many trade corridors still contend with high fees and extended settlement periods.
Digital wallet integration
The partnership’s emphasis on digital wallet connectivity reflects broader industry trends towards mobile-first payment strategies.
Financial institutions increasingly demand faster processing times and enhanced transparency, driving modernisation across the sector.
Digital wallets have become critical infrastructure in markets where mobile penetration exceeds traditional banking access.
Recent Standard Chartered developments
Standard Chartered recently partnered with LSEG to launch an artificial intelligence platform that converts foreign exchange analysis into video content.
The platform uses AI to create one-minute videos with voiceovers and graphics from the bank’s daily trading analysis.
The bank has also been exploring stablecoin applications in cross-border payments. Research from Standard Chartered’s digital asset trading unit Zodia Markets reveals stablecoins process US$425bn monthly as traditional payment systems fail to meet cost and speed targets.
The partnership arrives as the cross-border payments industry faces pressure to modernise.
Despite advances, the industry faces ongoing pressure to reduce costs and improve efficiency, particularly as emerging markets seek greater integration into global payment systems.
Standard Chartered’s collaboration with Dandelion positions the bank to address these challenges through enhanced reach and diversified payment rails.
The integration of PrismFX with Dandelion’s infrastructure creates a unified platform for executing international payments with improved transparency across the transaction lifecycle.
Source: https://fintechmagazine.com/
