Our innovation investment fund is not about investing in what is interesting but how is it relevant to the Standard Chartered. There must be a minimum engagement between the bank and fintech in a successful Proof of Concept and with an intention to implement production.
We manage Standard Chartered’s minority stakes in its fintech partners that enables forward-thinking capabilities. In a sense it is different from a venture capital fund. Our professional investment unit:
- behaves like partners, rather than venture capitalists
- works with fintech partners to implement technology, build scale and make enterprise-ready
- aligns incentives through taking strategic minority stakes
- is highly selective to ensure that technologies that give the bank competitive advantage, are complementary, give access to networks and capabilities
- is open for ideas, reserve right to increase or decrease funds depending on opportunities
- looks at these areas of interests: seamless, anytime, banking; data; banking platforms; market infrastructure; foundational technology which enable banking of tomorrow