Based in Singapore, audax is committed to driving the advancement of the technology ecosystem, with its initial focus on the APAC region and currently, its primary mission is to enable banks and financial institutions to swiftly expand and modernise their operations by harnessing the digital banking capabilities it offers
Audax launches to empower financial clients with innovative solutions. (Credit: fancycrave1 from Pixabay)
SC Ventures has launched audax Financial Technology, a digital banking technology provider that is expected to support banks and financial institutions in expediting their digital transformation.
The solutions from audax will also empower financial clients to deliver new business models, cater to emerging customer segments, and unlock new revenue streams.
SC Ventures is the innovation, fintech investment, and ventures arm of Standard Chartered.
Audax will serve as a comprehensive digital banking platform equipped with modular capabilities, designed to seamlessly manage large volumes of customer data simultaneously.
Its adaptable plug-and-play solution caters to every aspect of the client journey, encompassing client and staff interfaces, deposit and lending products, client support, and data reporting.
Furthermore, it is anticipated to complement existing core systems of established banks.
Audax’s technology, which is compatible with various infrastructures, empowers banks to embark on contemporary digital transformation initiatives without the burdens of expensive and time-consuming in-house development or migration processes.
Before its official launch, the audax solution served as the driving force behind Standard Chartered nexus (SC nexus), a white-label plug-and-play Banking as a Service (BaaS) solution for major ecosystem players.
Based in Singapore, audax is committed to driving the advancement of the technology ecosystem, with its initial focus on the Asia-Pacific (APAC) region. At present, audax’s primary mission is to enable banks and financial institutions to swiftly expand and modernise their operations by harnessing the digital banking capabilities it offers.
Kelvin Tan, formerly the managing director and global head of SC nexus, will assume the role of CEO at audax. The newly launched fintech firm will maintain its commitment to providing Standard Chartered with commercial support by fuelling its BaaS offering, SC nexus, for both existing and forthcoming partnerships.
Tan said: “We are excited to push the frontiers of what is considered possible. audax has showcased the potential of BaaS and how it has scaled the digital business for Standard Chartered, enabling them to acquire new-to-bank customers at a fraction of traditional customer acquisition costs.
“We are now ready to scale it for other banks and financial institutions globally, helping everyone create better value for their business without risking their existing estate.”