SC Ventures, Standard Chartered’s innovation, fintech investment and ventures arm, announced that it had entered into a venture building agreement with AND Global Pte. Ltd. to promote innovation and facilitate respective venture building and tech capabilities.
AND Global, with its proprietary Fintech-as-a-service (FaaS) solutions, enables financial and non-financial institutions across Asia Pacific and Africa to seamlessly integrate financial and alternative financial tech solutions into their businesses. AND Global’s FaaS solutions include AI-powered credit scoring system, no-code scoring platform, digital lending system, e-KYC solution, e-wallet, large scale underwriting system and asset tokenization system. These verticals of AND Global have high synergy with SC Ventures’ innovation and venture building themes (digital banking and lifestyle, online economy and payments, digital assets and sustainability and inclusion).
With SC Ventures’ expertise and global network of building new business models and AND Global’s expertise and capabilities of building scalable and viable tech solutions, both organisations will focus on accelerating innovation and building commercially viable, investable, and scalable tech solutions and ventures.
AND Global’s CEO, Khos-Erdene B. noted that “This partnership is very special to us. Finding a tech and business partner with the DNA to continuously innovate is extremely rare for startups such as us. We have been quick to start working with SC Ventures on a number of innovative business models reflective of a practical and dynamic partnership. We look to create scalable and viable solutions to bring those to the market for our clients and a wider community”.
SC Ventures Member in role of Chief Technology Officer, Thorsten Neumann cited “Aligned to our strategy of bringing optionality to the Group, we welcome the collaboration with partners with expert technology capability and proven high-quality solutions. The collaboration with AND Global brings agility to our venture building by jointly tackling new disruptive business models with their strong skills in emerging technology of machine learning, blockchain, DevOps and SaaS experience.”
SC Ventures is a business unit that provides a platform & catalyst for Standard Chartered to promote innovation, invest in disruptive financial technology and explore alternative business models.
AND Global is a fintech startup headquartered in Singapore and has strategic investments by Marubeni Corporation and SBI Holdings, Inc.
For more information, please visit www.and.global.