Cash & Liquidity ManagementCash ManagementStandard Chartered to strengthen cash management in Europe

Standard Chartered to strengthen cash management in Europe

Standard Chartered to build domestic services to support the day to day cash management activities of our clients operating in Europe.

Standard Chartered will offer an extensive range of services out of London and Frankfurt covering the UK and Eurozone countries, as the bank announced an investment in new infrastructure that will enhance its cash management offering.

The new infrastructure is scheduled for completion in mid-2020, and in addition to existing high-value clearing, transactional FX and pooling services the bank currently offers, it is developing additional services including virtual accounts, enhanced pooling and liquidity services, API capabilities, low-value clearing and UK Faster Payments.

Victor Penna, Head of Cash Management, Europe and Americas and Global Head of Cash Structured Solutions Development at Standard Chartered said: “These new products, on top of our existing services will together enable us to support the day to day cash management activities of our clients operating in Europe including collections, automated reconciliation, salary and vendor payments, pooling, reporting, and other services.”

Complex solutions for central treasuries and more

Following the build, the bank will also deliver complex solutions for central treasuries, in-house banks, trading centres and billing hubs operated by its clients, including global pooling structures.

Karin Flinspach, Regional Head, Transaction Banking, Europe and Global Head of Implementation and Client Services at Standard Chartered said: “Once live, Europe will become a global hub as well as a new ‘footprint’ region for cash management services complementing what we already do in Asia, Africa and the Middle East, particularly supporting our Asian and African customers whose businesses have started to look towards Europe. This exciting development emphasises the bank’s continued journey as a leading provider of cash management services and our dedication to support our clients globally.”

Offering cash management solutions has become imperative for a lot of banks globally. Last week, J.P. Morgan unveiled a new liquidity management platform which was latest in line of tools to help clients build stronger liquidity strategies.

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