Standard Chartered Launches Fast US Dollar Payments to Asia
Standard Chartered Bank has launched the Asia Express Guaranteed Payments programme to deliver US dollar payments to Asia on the same or next day (depending on the specific destination). This programme is unique in that the guarantee extends to the delivery of payment to the ultimate beneficiary at the end of the payment chain.
The Asia Express Guaranteed Payments programme addresses inefficiencies in companies making US dollar payments to Asia using intelligent routing/prioritisation and leveraging Standard Chartered’s knowledge of the payments landscape in Asia. Clients are expected to benefit from increased transparency of available funds, improved timeliness and accuracy in payment execution and guaranteed availability of funds for the ultimate beneficiary. This proposition will significantly improve payment efficiencies and strengthen the relationships between remitters and beneficiaries, fostering growth in commerce.
“With the growth of producer and consumer economies in Asia, we are seeing an increase in US dollar commercial payment volumes to the region. Standard Chartered is excited to be supporting further growth of trade in Asia through this innovative, fast and reliable payment process”, said Madhavan Ramaswamy, global head of product management, banks, transaction banking, Standard Chartered.