Stanchart launches 'Straight2Bank'

| Friday May 11, 2007 00:00

It is a fully integrated end-to-end platform that provides cash, trade, foreign exchange 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, the bank says in a statement.

Said Karen Fawcett, Group Head of Transaction Banking at Standard Chartered Bank: '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.'

Her colleague, Mike Bass, who is the Global Head of Standard Chartered Bank's Rates and FX division, had this to say: '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 e-Commerce as Standard Chartered Bank establishes itself as a key electronic provider of emerging markets liquidity.'