Tel Aviv-based has partnered with on a world-first tech answer for open banking.
An skilled on redefining the trendy cellular banking expertise, PayKey’s keyboard-based answer goals to seamlessly combine P2P (peer to look) banking into clients’ every day lives.
As an example, customers may simply ship cash on Whatsapp through the ‘banking key’ shortcut on their cellular keyboard, choose the suitable ‘send money’ perform, sort the specified quantity after which ship it to an authorised contact, all whereas staying inside the authentic chat window.
Customary Chartered’s deployment of this open banking platform kinds a part of its deal with driving banking transformation by way of digital innovation. Though presently utilised for account upkeep and cash transmission functions, PayKey envisions a time when it may very well be used for buying and selling, funding and extra sooner or later.
A brand new era of banking in South Korea
It needs to be famous that this replace comes within the wake of South Korea’s monetary ecosystem re-evaluation, akin to or within the EU.
Along with overcoming logistical limitations by way of know-how, the brand new customary will enable banks to supply clients a much more personalised and optimised type of the providers they require.
“The launch of Standard Chartered’s new keyboard solution marks a significant leap forward in delivering an embedded banking experience that puts the customer’s preferences at the core,” mentioned Sheila Kagan, CEO of PayKey.
“These days banks should weave their providers into clients’ digital lives, and supply the monetary providers clients want when and the place it is most handy for them.
“We are thrilled to see that Standard Chartered is pioneering a new banking experience and are honoured to bridge the gap between Standard Chartered’s impressive portfolio of banking services and their customers’ digital lives.”
Certainly, the Bank’s recognition that higher integration with cellular know-how is an assured methodology for strengthening relationships with clients, after which forging a tech partnership to attain it, is a textbook instance of progressive considering inside banking.
Joseph Hyung Ki Cho, Head of Digital and Private Banking at Customary Chartered, summarises: “Over the previous 12 months, the Customary Chartered Bank Korea digital workforce has labored tirelessly in creating an all-new cellular banking expertise with new know-how.
“The new keyboard banking solution is an example of how an institution can create a superior bank-branded mobile experience within some of the most popular and often-used smartphone apps.”