Standard Chartered unveils ecosystem strategy
The bank said that the initiative aims to connect Asia, Africa and the Middle East’s business communities and assist trade, commerce and investments in each region.
Standard Chartered Bank has launched ‘Banking the ecosystem’, described as aa global strategy that will connect business communities and facilitate increased trade, commerce and investments across Asia, Africa and the Middle East.
“To support global trade effectively and foster greater sustainable economic growth, the banking industry will need to change the way they do business,” the bank commented. “Primarily, in the area of trade and commerce, banks will need to change the way they look at their clients’ supply chain relationships as they become more complex.”
Standard Chartered added that it envisions the initiative as driving the future of banking, describing it as “a differentiated value proposition whereby [the bank] will deploy innovative and customised solutions that best suit its clients’ ‘ecosystems’ – the international and domestic network of suppliers, distributors and customers of all sizes that together drive global trade and commerce.”