FOR IMMEDIATE RELEASE
Standard Chartered launches innovative one-stop proprietary e-channel for corporate and institutional clients
Straight2Bank offers state-of-the-art working capital solutions for corporations and transaction initiation and reporting solutions for institutions
3 May 2007, Hong Kong – Standard Chartered launched today its one-stop proprietary electronic banking channel for corporate and institutional clients ‘Straight2Bank’. The fully integrated end-to-end platform provides Cash, Trade, Foreign Exchange (FX) and Securities Services via a single sign-on access. The enhancements provide clients with streamlined and straight through processing of transactions, resulting in significant operating efficiencies and cost savings. Karen Fawcett, Group Head of Transaction Banking, Standard Chartered Bank said:
“We have made a significant investment in the Bank’s electronic platform in response to our clients need for sophisticated transaction, hedging, and information services through a single interface. ‘Straight2Bank’ has been designed so that it can be scaled according to a client’s needs for product simplicity or sophistication, or adapted for a small enterprise to a multi-national corporation to a financial institution. It offers leading edge working capital solutions across all client segments, products and geographies.” Added Mike Bass, Global Head of Rates and FX, Standard Chartered Bank:
“Our clients are increasingly focusing on greater integration between transaction banking and foreign exchange risk management, under the umbrella of liquidity management. As a result, we now offer them foreign
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exchange functionality within the core transaction banking module on ‘Straight2Bank’. This functionality includes the ability for our clients to trade
Spots, Forwards and Swaps in more than 100 currency pairs. It reflects our strong commitment to eCommerce as Standard Chartered Bank establishes itself as a key electronic provider of emerging markets liquidity.”
Straight2Bank’s comprehensive range of products and services includes:
– Global Markets Solutions: Comprehensive Spot, Forward and Swap foreign exchange transacting capabilities in over 100 currencies, as well as for precious metals (where approved) – Transaction Banking Offerings: Broader range of transactional financing options for clients, enabling them to choose between the full range of documentary trade services and open account financing options – Information Management: The powerful, state-of-the-art reporting tool, ‘Info Manager’, provides customers transactional transparency on their trade flows – Connectivity: Clients have the flexibility to choose the banking connection they need – internet, dedicated computer connection or back-end integration.
Straight2Bank also provides a robust information structure to maintain control and compliance. This, coupled with improved comprehensive security across the channels, a more flexible authorisation matrix, stronger reporting for risk management and MIS, puts the power of control in the hands of clients. The system is flexible, built on open architecture and compatible with leading industry standards for seamless integration and adoption: SwiftNet (MACUG and TSU), SCORE, Twist, ERP integration via SAP XI.
Straight2Bank is available to all of Standard Chartered Bank’s corporate and institutional clients via registration through their Client Relationship Manager. Existing clients will be migrated from Web Bank to Straight2Bank with immediate effect. ENDS –
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As part of the Bank’s Wholesale Banking business for Corporates and Institutions, Transaction Banking provides Cash Management, Securities Services and Trade Services to clients for and in Asia, Africa and the Middle East. The business provides a full suite of transactional products and also serves as a bridge to these markets for clients from the U.S and Europe. A leading provider of Transaction Banking services, some highlights of the Bank’s external recognition are as follows: • • • • Top 3 Cash Management Bank globally in Euromoney’s Cash Management Poll Top-Rated Sub-Custodian by Global Custodian magazine Best Structured Trade Finance Bank by The Asset magazine Best Bank for Liquidity Management in Africa by Global Finance
A leader in Rates and Foreign Exchange for corporate and institutional clients, Standard Chartered’s global team has a proven track record in providing solutions that match the diverse needs of its’ clients. For example, in Rates and Foreign Exchange, the Bank has recently achieved a number of firsts and milestones, including: • • • • • • • •
The first market makers deal on the spot CNY market recorded on China Foreign Exchange Trading System on 4 January 2006 One of only five foreign banks to be granted CNY Market Maker status for FX by SAFE (State Administration of Foreign Exchange) in China Market maker for CME Renminbi and Korean Won Futures First Bank to offer on line execution of IRS in a range of Asian Markets
including Taiwan, India, Korea as well as Hong Kong and Singapore One of the first banks to offer commodity derivatives First bank to offer online Islamic FX Forwards First bank to offer automated pricing in a range of non rand (ZAR) African currencies including Kenya, Ghana, Uganda, Namibia and Tunisia Leadership in online trading of Gulf currencies offering 24-7 trading
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For further information, please contact: Doris Fan Corporate Affairs Hong Kong, Standard Chartered Bank Tel: +852 2820 3824 E-mail: doris.fan@hk.standardchartered.com Note to Editors: Standard Chartered – leading the way in Asia, Africa and the Middle East Standard Chartered PLC is listed on both the London Stock Exchange and the Hong Kong Stock Exchange and is consistently ranked in the top 25 among FTSE-100 companies by market capitalisation. Standard Chartered has a history of over 150 years in banking and operates in many of the world's fastest-growing markets with an extensive global network of over 1,400 branches (including subsidiaries, associates and joint ventures) in over 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas. As one of the world's most international banks, Standard Chartered employs almost 60,000 people, representing over 100 nationalities, worldwide. This diversity lies at the heart of the Bank's values and supports the Bank's growth as the world increasingly becomes one market. With strong organic growth supported by strategic alliances and acquisitions and driven by its strengths in the balance and diversity of its business, products, geography and people, Standard Chartered is well positioned in the emerging trade corridors of Asia, Africa and the Middle East. Standard Chartered derives over 90 per cent of profits from Asia, Africa and the Middle East. Serving both Consumer and Wholesale Banking customers worldwide, the Bank combines deep local knowledge with global capability to offer a wide range of innovative products and services as well as award-winning solutions. Trusted across its network for its standard of governance and corporate responsibility, Standard Chartered takes a long term view of the consequences of its actions to ensure that the Bank builds a sustainable business through social inclusion, environmental protection and good governance. Standard Chartered is also committed to all its stakeholders by living its values in its approach towards managing its people, exceeding expectations of its customers, making a difference in communities and working with regulators. For more information on Standard Chartered, please log on to www.standardchartered.com
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