Standard Chartered to launch open digital platform for SMEs in India

Mumbai, Mar 15 (KNN) An open digital platform for Small and Medium Enterprises (SMEs) in the country will be launched to help them grow by providing access to a range of financial and business solutions.

The initiative is being launched under Standard Chartered (SC) Ventures- the innovation, investment and ventures unit of Standard Chartered.

The solutions will include access to business loans, invoice and supply chain financing, logistics, commercial insurance and skilled resources among others.

The British lender, Standard Chartered in a statement said “The platform will provide a data-driven ‘digital only’ experience to SMEs, supported by artificial intelligence and machine learning.”

In addition, it will facilitate its first transactions in the second quarter of 2019.

“This platform addresses a wide range of SME needs through a completely different model which simplifies the SME growth experience, while putting control at their fingertips,” said Zarin Daruwala, Chief Executive Officer, Standard Chartered Bank, India. (KNN/YV)