British banking group Standard Chartered has launched its banking-as-a-service solution nexus to offer a suite of private-label products and services to its clients.

Digital platforms and ecosystems like e-commerce, social media, or ride-hailing leverage the new solution to offer loans, credit cards and savings accounts co-developed with the bank to their clients under their own brand name.

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The bank noted that it has signed up an e-commerce giant in Indonesia as its first partner.

It expects to co-create and launch products powered by nexus in 2021.

Standard Chartered group CEO Bill Winters said: “nexus is potentially transformational for the bank and our customers.

“We will actively partner with leading consumer platforms in our markets to enable convenient access to financial services to millions of new, tech-savvy customers.

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“We are starting with Indonesia, as part of our strategy to grow digitally and expand our business in this important, fast-growing market.”

The bank intends to further roll out its solution in Asia, Africa and the Middle East, upon receiving necessary regulatory approvals.

The bank has been actively experimenting with new business models to meet the emerging needs of its clients.

Recently, Standard Chartered unveiled Mox virtual brand for Hong Kong, in partnership with PCCW, HKT and Trip.com.

Last month, Standard Chartered opens its first flagship International Banking and Priority Private centre.

In January, Standard Chartered invested in blockchain-based platform Contour and supply chain finance platform Linklogis.