Standard Chartered Joins BlackRock’s Provider Network

The bank will offer integrated front-to-back office investment management solutions to mutual clients across Asia, Africa, and the Middle East on the Aladdin platform.

Standard Chartered has become the latest bank to ink a strategic partnership with BlackRock’s «Aladdin» provider network, a platform that helps assets managers check risk in their portfolios, trade, manage data management, and other operational tasks.

The alliance builds on Standard Chartered’s ongoing relationship with BlackRock, leveraging the focus both organizations have on innovation and digitization and is part of the Bank’s longer-term strategic partnership with the global asset manager to provide an enhanced experience for our institutional clients, Standard Chartered said in an announcement on Wednesday.

Aladdin – or asset, liability, debt, and derivatives investment network – was conceived by the New York-based firm in the late 1990s as an internal tool. Today, it is one of Blackrock’s most powerful tech tools that it sells to smaller rivals, in a bid to stave off pressure on its active management fund arm from cheaper index funds. Credit Suisse and HSBC adopted the platform in 2019 and 2020 respectively.

Akiyoshi Takeuchi, head of BlackRock Solutions Asia-Pacific, said Standard Chartered’s adoption of the platform «underscores growing momentum in bringing innovative solutions deeper into emerging markets throughout Asia, Africa, and the Middle East.»