Sunday, 20 June 2021

Standard Chartered launches domestic cash management services in Europe

Standard Chartered has launched a full range of cash management services out of London and Frankfurt covering the UK and Eurozone countries, following its investment in a new cash management infrastructure.

With the infrastructure now complete, and in addition to existing high-value clearing, transactional FX and pooling services the bank already offers, the additional services include; virtual accounts, enhanced pooling and liquidity services, API capabilities, low value clearing and UK Faster Payments.

Philip Panaino Global Head of Cash Management at Standard Chartered said: “We are offering a wide range of opportunities to existing and new clients, from setting up operating subsidiaries to running regional or global treasury centres, trading centres, or investment arms in Europe. We are not only aiming to serve our European client base, but also our Asia, Africa and Middle East clients who are looking to do more business in to Europe”.

Standard Chartered is also providing solutions for the complex needs of central treasuries, inhouse banks, trading centres and billing hubs operated by its clients, including global pooling structures.

Karin Flinspach, Regional Head Transaction Banking, Europe and Americas at Standard Chartered said: “This is a transformational development as we begin to offer this enhanced cash management service across our global footprint, reinforcing Europe as a key location to access our unique network, which enables us to further support our clients and their business”.

Re-disseminated by The Asian Banker