Solace powers mobile payments on StanChart’s online platform in South Korea

Solace has partnered with Standard Chartered Bank (SCB Korea) to maximize the agility and efficiency of Standard Chartered’s Straight2Bank (S2B), an online banking platform that allows businesses to make payments and track their transactions on the go. 

Adopting a Solace-enabled event mesh and event-driven architecture provides SCB Korea with a stable and scalable foundation to deploy and scale new banking services for its customers while meeting demands for real-time responsiveness. 

The bank can now provide better customer experience on S2B and help businesses manage large volumes of domestic and international online transactions. 

Solace has been working with Standard Chartered Bank since 2010 to provide low-latency data distribution for its foreign exchange trading platform across key financial hubs in Singapore, London, Tokyo, and New York. 

Through its event mesh, Solace helps to route pricing, trades, and orders between each colocation, enabling SCB to offer the best market price to its customers.

As a result of these successes, the same high-performance messaging infrastructure used to support one of the world’s largest FX traders is now also used to future-proof SCB Korea’s technology infrastructure. 

As the adoption of digital banking continues to accelerate in the country, SCB Korea needed a robust framework that would support the development of new digital channels and services to cater to their customers.

Using a Solace-enabled event mesh will facilitate real-time data flow between SCB Korea’s new digital channels and core services via secure Application Programming Interfaces (APIs), enabling SCB Korea to integrate legacy applications and microservices dynamically and in real-time.

“It is a key priority for us to be able to provide our customers with the best experience regardless of which channels they choose,” said Jason Ki, SVP of technology and innovation at SCB Korea.

Ki said emerging technologies like 5G will further disrupt the evolving financial services landscape in the coming years, and that it is critical for them to leverage best-of-breed technology to secure the necessary foundations in place to stay relevant.

“Solace’s advanced technology provides the ideal platform for the bank to build scalable and future-proof services,” he added. “We are working with Solace to ensure IT provides modern and agile support to the business while ensuring positive ROI and maximum reliability.”