Standard Chartered Bank engages valued customers on Straight2Bank

Innovative one-stop E-channel for SME, Corporate and Institutional Clients which offers state-of-the-art working capital solutions for corporations and transaction initiation and reporting solutions for institutions

Accra, May 29 2008, – Standard Chartered Bank (SCB) has engaged its valued customers on ‘Straight2Bank’, its one-stop proprietary electronic banking channel for SME, Corporate and Institutional Clients during a customer event at the Golden Tulip, Accra.

The event provided an opportunity to reintroduce customers to the service platform which was launched last year. The presentations highlighted the features and enhancements of Straight2Bank, which is a fully integrated end-to-end platform for Cash, Trade and Foreign Exchange (FX) reporting and transaction initiation via a single sign-on access. The enhancements provide clients with streamlined and straight through transaction processing capabilities, resulting in significant operating efficiencies and cost savings.

Speaking during the event, Isaac Mwige, Regional Head, Transaction Banking SCB West Africa, said: “Straight2Bank increases options and convenience targeted to meet the diverse needs of our clients. It is the channel of choice. As the Right Partner and the leader in technology and innovation, Standard Chartered is still focused on expanding our product sophistication and providing increasing strategic and value-added capabilities to clients.”

Commenting, Alex Mould, Executive Director, Origination & Client Coverage, SCB Ghana, said: “We have made a significant investment in the Bank’s electronic platform in response to our clients’ need for sophisticated transaction and information services through a single interface.”

Straight2Bank is the Bank’s response to clients becoming increasingly focused on tighter integration between transaction banking and foreign exchange risk management, under the umbrella of liquidity management. As a result, Standard Chartered now also offers its clients a foreign exchange functionality module on Straight2Bank. This functionality includes the ability for clients to trade Spots, Forwards and Swaps in the major currencies.

Also speaking at the event, Vinod Madhavan, Head of Products and Channel Management for SCB Africa, remarked that:

“Standard Chartered is witnessing increased trade between our markets across Asia and Africa - currently led by the China-Africa investment corridor - and is aligning its business model accordingly by leveraging on its international network to deliver innovative solutions.”

A leader in Rates and Foreign Exchange for corporate and institutional clients, Standard Chartered has a proven track record in providing solutions that match the diverse needs of its’ clients. 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, please contact:

Nii Okai Nunoo
Area Head of Corporate Affairs, West Africa
Tel: +233(0)21 669688 Fax: +233 (0) 21 661676
Nii-Okai.Nunoo@standardchartered.com