The Bank received the top accolade for its new, fully integrated, end-to-end electronic platform 'Straight2Bank', which was launched in May this year. Countries in which the Bank was named top corporate/institutional internet bank include Bahrain, Qatar, Jordan, Pakistan and Hong Kong.
Other awards won by the Bank were for: Best Regional Web Site design, Best Regional Trade Finance Services, Best Regional Corporate Internet Bank and Best Regional Integrated Corporate Bank Site.
The Best Regional Web Site Design accolade was awarded to Standard Chartered for the Middle East, Africa, Europe and Asia regions; Best Regional Trade Finance Services for the Middle East, Africa, Asia, North America and Europe regions. Best Corporate/Institutional Internet Bank 2007 was presented for its performance in Bahrain, Bangladesh, Botswana, Ghana, Hong Kong, Jordan, Kenya, Korea, Nepal, Pakistan, Qatar, Sierra Leone, Tanzania, Uganda and Zimbabwe; the Best Regional Corporate Internet Bank was for Asia, North America and European markets; and Best Regional Integrated Corporate Bank Site applied to North America.
Karen Fawcett, Group Head of Transaction Banking said: "The awards are a fitting recognition that 'Straight2Bank' offers all our clients leading edge working capital solutions across all products and geographies. We designed the platform in response to the increasing client need for greater integration between transaction banking and foreign exchange risk management and to reflect our strong commitment to eCommerce."
'Straight2Bank' provides Cash, Trade, Foreign Exchange (FX) and Securities Services via a single sign-on access. The enhanced platform provides clients with streamlined processing of transactions, resulting in significant operating efficiencies and cost savings.
Azeem ur Rahim, Regional Head of Transaction Banking, Middle East, Pakistan and North Africa said: "'Straight2Bank' is a natural evolution as part of our go-to client strategy which places our clients' needs at the centre. We have therefore integrated our electronic channels and also introduced newer functionalities to match our clients evolving needs."
"'Straight2Bank' represents our strategic focus on working capital and is our response to where we had already anticipated the market would move - towards open account financing. It therefore ensures that we are well positioned to support those changing needs. With improved comprehensive security across the channels, a more flexible authorisation matrix and twenty four hour access, the power of control is firmly in the clients' hands."
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Standard Chartered 'Straight2Bank' electronic trading platform wins global awards
- United Arab Emirates: Tuesday, October 23 - 2007 at 12:09
- PRESS RELEASE
Standard Chartered has been named the best corporate or institutional internet bank in 15 countries worldwide by Global Finance, a renowned international financial services magazine.
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Log in to request more information from Standard Chartered Bank (SCB)
Notes and media contacts
For further information please contact:Patricia Bentham
Head of Corporate Affairs, Standard Chartered Bank, UAE
Tel: +971 (0) 4 5070548
Fax: +971 (0) 4 3594174
Mobile: +971 (50) 3174665
Email: Patricia.Bentham@ae.standardchartered.com
Notes to Editors -
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
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
Posted by Lara Lynn Golden, News EditorTuesday, October 23 - 2007 at 12:09 UAE local time (GMT+4)
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