Standard Chartered has announced an investment in United Fintech Group Limited, a London-based company focused on digital transformation for financial markets.
Fintech Platform Transforms Markets
United Fintech acquires and partners with fintech firms to offer a comprehensive technology platform for capital markets. This platform aims to facilitate innovation and collaboration among technology providers to benefit banks, hedge funds, and asset managers.
Christian Frahm, CEO and Founder of United Fintech, said:”The investment underscores Standard Chartered’s commitment to accelerate digital transformation and highlights their forward-thinking approach to collaborative innovation.”
“As an Asia-focused multinational bank with an expansive footprint in Asia, Africa, Middle East, Europe and Americas, we are thrilled to have them complete our circle of global investors, joining Citi and BNP Paribas, who initially invested in February 2024, as well as Danske Bank, who followed in May.”
Meanwhile, United Fintech has opened a new office in the Dubai International Financial Centre, as reported by Finance Magnates. This expansion addresses the UAE's demand for financial technology and underscores the country’s role as a key fintech innovation hub.
Gaining Board Seat
This investment aligns with Standard Chartered’s goals to enhance digital transformation solutions in capital markets, wholesale banking, wealth management, and the broader financial services industry.
Under the terms of the investment, Standard Chartered will have Board observer rights. Additionally, upon meeting certain conditions, the bank will be offered a rotational Board seat. This role will allow Standard Chartered to contribute its expertise and influence the strategic direction of the platform.
Geoff Kot, Global Head, CIB Business Platforms & Partnerships at Standard Chartered, said: “We have been impressed by the growth in United Fintech’s portfolio of innovative, engineering-led technology companies and share their vision for how technology can transform and disrupt market structure and infrastructure. We look forward to partnering with them as we continue on our journey of digital transformation.”
