Standard Chartered wins Best eSolutions Partner Bank Award

Thursday, 7 August 2014 00:48 - - {{hitsCtrl.values.hits}}

Standard Chartered’s Transaction Banking was awarded the ‘Best eSolutions Partner Bank’ by the Asset Magazine’s Asset Asian Awards 2014 for its innovative solutions delivered through its internet banking channel, Straight2Bank, at a recently held ceremony in Hong Kong. The award is for the most effective electronic banking infrastructure that supports a client’s cash and treasury management capabilities. At the same event, Standard Chartered Sri Lanka also carried away the award for the ‘Best in Treasury and Working Capital for Multinational and Large Local Corporates’ adding to the list of Global and Local accolades that the bank has garnered in recent times for its products and services.

Standard Chartered Transaction Banking Country Head Roger Norton speaking of the awards said: “The judging criteria stipulated that the solution must be overarching in terms of supporting the customers’ payments and receivables, ensuring straight-through processing as much as possible. We are delighted that the channel was recognised for enabling the client to efficiently improve their cash management capabilities with the effective use of technology. We are grateful to our clients for the support they have given our business to reach these standards of excellence.” Standard Chartered’s Straight2Bank is a fully integrated electronic working capital platform which offers a full range of banking services tailored to meet clients’ needs, driving efficiency throughout their end-to-end working capital cycle both with Standard Chartered and with their trading partners. Straight2Bank provides comprehensive transacting and reporting capabilities across Cash Management, Trade Finance, Securities Services and Foreign Exchange. Straight2Bank has a suite of electronic channels which offers clients complete flexibility to choose the right banking connectivity via the internet or back-end system integration, and is built on open architecture compatible with leading industry standards for seamless integration and adoption such as SWIFTNet for Corporate and connectivity options for enterprise resource planning systems such as SAP and Oracle. Standard Chartered Transaction Banking, South Asia Regional Head Ashuthosh Kumar congratulating the local team on their recognition and success said: “Straight2Bank offers corporate clients an impressive product range on one single electronic banking platform, supporting comprehensive reporting and initiation for payables, receivables, open account finance, and securities services. On the collections side cash and cheque collections related reporting coupled with virtual accounts offering for payor identification help clients manage their receivables efficiently online or through host to host connectivity. On the payments side, through online / host to host options, the product offers the broadest range of payment solutions across paper and electronic payments. Additionally, capabilities to print cheques at the client end – round the clock, coupled with positive pay for risk mitigation offer clients unmatched convenience and security around executing payments.” Standard Chartered’s clients commenting on Straight2Bank said: “The platform also provides greater transparency of the entire process, near real time updates on account balances, and the ability to monitor milestones, and global coverage and access, and most importantly security, as Straight2Bank Web supports the highest levels of encryption and user authentication available in the market today.” Standard Chartered is uniquely placed and well-positioned in Asia, covering 22 countries with over 1,200 branches, and draws on a rich banking heritage of over 150 years, combined with deep local knowledge and domestic capabilities. Straight2Bank offers 10 different languages with an extensive network that spans over 56 countries for the bank’s clients around the world.