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TMI Awards 2010: Standard Chartered

Having started as a trade bank with over 150 years of history, Standard Chartered continuously meet the needs of both local and multinational companies who are looking to expand and take advantage of the rapidly-growing trade corridors of Asia, Africa and the Middle East. Uniquely positioned in these trade corridors, it has actively supported commodity flows from Africa to Asia and manufacturing flows in the other direction. Its cross-border network facilitates clients’ growing trade and investment flows and supply chain financing needs across these markets. 

Standard Chartered Bank is committed to deepening its client relationships across its footprint. Client-centricity saw it move away from a siloed approach of product sales, some six years ago, to one that focuses on clients’ needs. This greatly enhanced the bank’s ability to tailor solutions that maximise clients’ working capital efficiency. More recently, Standard Chartered took a further step and integrated its cash and trade businesses, and also launched new solutions including Vendor Prepay. This move brought about greater streamlining of processes for both the bank and its clients.

Being close to the ground and to local regulators in its markets have enabled the bank to meet the risk management needs of its clients and take leading positions in the industry. 

In China, its established presence and close working relationship with the People’s Bank of China have given Standard Chartered a head start in the pilot run of the renminbi (RMB) trade settlement programme. The bank has led in many industry firsts in RMB trade settlement, lending its capabilities to help clients tap into the growing potential of settling two-way cross border trade transactions in RMB.