Standard Chartered launched Straight2Bank, its one-stop proprietary electronic banking channel for corporate and institutional clients. The fully integrated end-to-end platform provides Cash, Trade, Foreign Exchange (FX) and Securities Services via a single sign-on access. The enhancements aim to provide clients with streamlined 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 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 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 reporting tool, Info Manager, provides customers transactional transparency on their trade flow;
– Connectivity: Clients can choose the banking connection they need – Internet, dedicated computer connection or back-end integration.
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 immediately migrated from Web Bank to Straight2Bank.