Standard Chartered Delivers Fast, Reliable USD and Euro Payments to Asia and Africa

Published 

Singapore – Standard Chartered Bank today launched its Express Payment Guarantee Programme to deliver US Dollar and Euro cross-border payments to Asia and Africa on the same or next day. This is an extension of the existing Payment Guarantee Programme, which was launched in 2012 to speed up cross-border USD payments delivery to Asia, as it adds Euro payments and Africa as a payment destination.

The extended Express Guaranteed Payments programme significantly enhances speed, efficiency and security of payments as it effectively halves the delivery time for remitters to transmit USD and Euro-denominated payments to beneficiaries in Asia and Africa. Clients will benefit from better visibility and control over funds as well as the ability to guarantee payments to the ultimate beneficiary at the end of the payment chain. The Bank has introduced an additional automated email notification service to provide timely notice to both remitters and beneficiaries on the successful completion of each transaction. 

Commenting on the extension of the programme, Madhavan Ramaswamy, Global Head of Products for Banks, said:

“As more and more trade is conducted on an open account basis, exporters increasingly demand evidence of payment before shipment of goods. The extended Express Guaranteed Payments addresses this need, and is expected to help strengthen the relationships between remitters and beneficiaries through improved speed, efficiency and security for payments.”

Anurag Bajaj, Global Head of Clearing & Liquidity Management products for Banks, added:

“With growing trade between Africa and the rest of developing world, we are seeing a strong increase in commercial payment volumes to the region. We are excited to support the growth of trade in our key markets of Asia and Africa through innovative and efficient delivery of payments.”

The Express Guaranteed Payments programme is available globally to Standard Chartered’s Financial Institution clients that make use of the Bank’s leading USD and Euro clearing capabilities. The programme has been highly successful since its inception in 2012, and currently supports the efficient processing of several thousand transactions each month.

Most recent episodes

Trade Finance Vision: J.P. Morgan and Cleareye Collaboration Plots Future Path

Eleanor Hill (TMI) is joined by Natasha Condon (J.P. Morgan Payments) to discuss the latest trends and innovations emerging from the trade finance arena. Natasha considers how treasurers can improve the efficiency of their working capital, and examines why it remains critical for banks and fintechs to...

Audio TMI - ESG: Time to Decide

The pressure to comply with ESG initiatives is being felt by corporates like never before, with ESG-compliance a common concern among treasury departments. TMI talks to Lavinia Bauerochse (Deutsche Bank) about treasury’s ...

11:41

Embedded Finance: A 101 Guide for Treasurers

Our latest TreasuryCast guest, Aman Narain (HSBC) sits down with TMI's Eleanor Hill to consider the ways in which treasury might be impacted by embedded finance. In this podcast, Aman explains the differences between embedded finance and BaaS, shares his hopes for the future in this space, and provides...

12:58

Audio TMI - A Modern, Agile, and Efficient Machine

UniCredit's Raphael Barisaac and Massimo Ortino explain how the fir...

What’s on the Horizon for Short-term Investments?

The treasury community has risen to the ongoing challenge of rising interest rates and inflation, with corporate cash serving as the sought-after safety net. Here, Daniel Farrell (Northern Trust Asset Management) and Karl Adams (ICD) consider how the latest MMF reform proposals affect short-term...

39:27

Transitioning a Corporate from LIBOR to CME Term SOFR

The loans market has predominantly moved to forward looking term rates, and both corporate borrowers and global lenders are increasingly turning to CME Term SOFR as the forward looking risk-free benchmarks to support their activities. Listen to this podcast, featuring Gavin Lee, Marco Bianchi (CME...

37:16

HSBC’s Sibos Spotlight – View from Sibos

TMI's Eleanor Hill invites Neil Atkinson, Nadine Lagarmitte, and Vinay Mendonca (HSBC) to discuss the critical treasury topics and conversations highlighted at this year's Sibos conference in Amsterdam. Amongst a wealth of market insights, our guests consider the most critical developments emerging from...

38:40

ECB’s Targeted TLTRO Tweaks Set to Drain Excess Market Liquidity

Welcome to the latest edition of Liquidity Link Live, your exclusive market analysis provided by Northern Trust Asset Management, one of the world’s largest cash managers. Tune in each month to discover the very latest insights on the UK, Eurozone and US markets. This edition was recorded on the 7th...

05:42

Asian Treasury Trends: Learnings and Opportunities

Former corporate treasury professional, Valerie Heng (Deloitte) joins Eleanor Hill to discuss the hot topic of treasury transformation, alongside other key shifts treasurers should be aware of. In this podcast, Valerie uses her knowledge of the Asian Treasury market to explain how the role of the...

20:27