Standard Chartered enters into agreement with Paxata
Standard Chartered concluded a joint innovation agreement with data solutions provider Paxata. The hopes that the introduction of Paxata’s adaptive information platform will accelerate its agenda of being a digital bank. SCB first partnered with Paxata in 2016 for a compliance project. By allowing self-service access to information, Paxata will empower the bank’s employees, even those without technology backgrounds, to transform raw data into trustworthy business information they can turn into action. In addition to the investment, Standard Chartered has entered into a joint research and development initiative with Paxata to investigate sophisticated algorithms for searching, linking, aggregating and classifying data.