Standard Chartered
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01
Customer Introduction
Standard Chartered nexus (SC nexus) was the bank’s whitelabel Banking-as-a-Service proposition for large ecosystem players. Through SC nexus, Standard Chartered could distribute retail banking products through large digital ecosystems.
02
Success Statement
Through its partnership with Bukalapak, one of Indonesia’s largest all-commerce platforms, Standard Chartered launched BukaTabungan, a digital banking service, within the Bukalapak. This enabled Standard Chartered acquire new retail customers at scale through a lower-cost, fully digital distribution model. The solution simplified account opening to as fast as two minutes and supported access to digital banking services for Bukalapak’s ecosystem of more than 110 million users and 20 million business owners.
03
The Challenge
Standard Chartered faced a structural challenge common among large incumbent banks: how to scale customer acquisition beyond traditional channels such as physical branches while catering to the needs of digital-first customers. Effectively entering dynamic high-growth markets like Indonesia requires access to large, active user ecosystems, lower-cost acquisition models, and seamless, fully digital onboarding. However, delivering banking services within third-party ecosystem platforms required a fundamentally different operating model — one that traditional core systems and channel architectures were not designed to support.
04
The Solution
audax built the underlying platform powering SC nexus, enabling the bank to embed its banking services directly within Bukalapak. Through this, Standard Chartered could then offer digital banking services natively within Bukalapak’s platform, deliver a fully paperless onboarding journey using biometric verification and national ID validation, and launch a new distribution channel without re-architecting its core banking systems or requiring the significant upfront cost associated with physical branch deployment.
audax’s architecture allowed these capabilities to be deployed alongside existing secure and compliant infrastructure, enabling Standard Chartered to scale embedded finance without disrupting its core operations.
audax has a comprehensive “bank-in-a-box” solution that covers a range of services – from Onboarding to CRM and Operations. At record, Standard Chartered onboarded more than 8k customers a day with less than 30 millisecond response time, surpassing industry standards where average response times are >50milliseconds. The platform’s full observability stack also provides us with a clear end-to-end visibility of the entire solution, allowing us to react proactively and address any incidents real time. Beyond the Banking-as-a-Service use case, we are also looking at using the audax platform for other parts of the retail and SME businesses. Overall, audax has helped to remove the risk of using the bank’s legacy system for scaled digital requirements and has an excellent team to work with.
Cluster CEO, Indonesia & ASEAN Markets (Australia, Brunei & Philippines), Standard Chartered Bank
The Results
The launch of BukaTabungan demonstrated a new model for customer acquisition and servicing for Standard Chartered, giving it access to a captive customer base of 110+ million users and 20+ million business owners, while enabling it to offer simplified onboarding, reducing account opening timeto as little as two minutes.
For Standard Chartered, this marked a shift from traditional channel-led growth to ecosystem-led distribution, establishing a repeatable model for embedded finance across markets.
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