Q&A: Inside Standard Chartered’s Measured Approach to Innovation
How the bank is balancing blockchain, generative AI, and programmable payments with the fundamentals of treasury risk and regulation.
How the bank is balancing blockchain, generative AI, and programmable payments with the fundamentals of treasury risk and regulation.
At global events like Money20/20, there’s never a shortage of hype. But Vibhor Narang, Executive Director at Standard Chartered, brings a rare combination to the conversation: conviction in innovation tempered with caution.
We had the pleasure of meeting with Narang on the sidelines of the event to discuss how the bank is positioning itself in the face of rapid technological change.
“Our mission is to co-create in the space,” he says. “But we always ask: how do we move fast without being reckless? Every product has to create value and stay within a risk-managed framework. That’s non-negotiable.”
It’s a philosophy that underpins how the bank is approaching a host of emerging technologies – from blockchain to programmable payments to the slow-brewing potential of generative AI in treasury workflows.
Standard Chartered’s early bets in the blockchain space are starting to bear fruit. The bank has invested in Partior, a Singapore-based fintech consortium, and has already completed live value transfers for clients like Siemens AG.
But for Narang, it’s not about tokenizing for tokenization’s sake.
“We’re not chasing buzzwords. We’re evaluating which use cases actually create value. For example, enabling development organizations or commodity firms to tokenize and transfer assets securely across borders,” he says. “That’s the bar.”
It’s also about extending that infrastructure into areas like sustainability. Distributed ledger tech (DLT), Narang argues, could prove critical in preserving the integrity of sustainable value chains.
“You need authenticity. You need records that can’t be tampered with. That’s where blockchain, done right, has a clear edge.”
Beyond technology, Standard Chartered is pushing ahead with more hands-on treasury transformation, especially around regional treasury centers and in-house bank structures.
“We’re helping clients consolidate their treasury operations and digitize them in a way that delivers real-time value,” Narang explains. “But the goal is also to free up the treasurer’s time, to let them focus on strategy, not just BAU payments.”
That’s where programmable payments come in. The bank is working with fintech partners to create triggers and workflows that automate scheduled payments when specific milestones are reached, such as goods moving through a supply chain.
“We call it payout-as-a-service,” Narang says. “If we can take 80% of routine payments off the treasurer’s plate, they can finally focus on exceptions and higher-level planning.”
While much of the excitement around AI in finance has centered on consumer applications, Narang believes the real opportunity for treasurers lies in generative AI, specifically in solving cash flow forecasting.
“It’s consistently ranked a top challenge for corporate treasurers,” he notes, referencing annual data from the European Association of Corporate Treasurers (EACT). “And it’s not because machine learning models aren’t accurate. It’s because the data feeding them is incomplete or poorly formatted.”
This, he says, is where generative AI has potential. Not in replacing statistical models, but in preparing and harmonizing messy, multi-source data so that existing forecasting tools can actually work.
“These are large, complex businesses entering new markets, acquiring new firms, dealing with multiple banks and systems. Generative AI can’t do the math, but it can get the data into a usable state. That’s the missing link.”
Still, Narang is clear-eyed: the solution will need to be tailored. “What works for a large commodity firm won’t necessarily work for a global e-commerce player. This isn’t plug-and-play.”
As data complexity rises, Narang says corporates are increasingly focused not just on streamlining accounts, but rationalizing their banking relationships altogether.
“Having 3,000 bank accounts is manageable. Having 200 banking partners is not,” he says. “That’s why large firms are looking to reduce fragmentation and work with fewer banks that offer wider reach.”
It’s a structural advantage for Standard Chartered, whose presence in markets often underserved by global peers allows it to act like a local bank with global standards.
“There are corporates replacing their local banks with us in key regions. That’s the value of our network. That’s not easily replicated.”
While the external client-facing work draws most of the attention, Narang emphasizes that the bank is also investing internally – applying generative AI to areas like HR, talent management, and shared service centers.
“It’s not just about delivering better products to our customers,” he says. “It’s also about becoming a smarter, more efficient organization ourselves.”
As 2025 approaches, Standard Chartered’s message is clear: technology matters—but only if it’s implemented responsibly, measured carefully, and solves real problems for real people.