Standard Chartered And Huawei Engaged In Corporate Payments With IoT

Standard Chartered and Huawei are jointly developing an Internet of things (IoT) solution to enable corporate communications with banks for funding or payments.

It aims to enable the execution of financial or payment instructions in real time via the API.

The solution combines the capabilities of the Internet of things and the cloud to track products in real time, reducing operational risks and providing reliable data that can be used in making financial decisions.

The solution uses an open platform Huawei OceanConnect, built on IoT, cloud computing and big data technologies.

OceanConnect communicates with connected devices and collects data by providing open APIs to application developers to develop and organize the business process.

Standard Chartered collaborates with technology companies to jointly develop solutions to improve customer experience and efficiency.

Earlier this year, Standard Chartered created SC Ventures in Silicon valley, a business unit to stimulate domestic entrepreneurship and innovation, invest in FINTECH, and create disruptive businesses.