Standard Chartered has launched a full range of cash management services out of London and Frankfurt covering the United Kingdom and eurozone countries, following its investment in a new cash management infrastructure.
The new services include virtual accounts, enhanced pooling and liquidity services, API (application programming interface) capabilities, low-value clearing and UK Faster Payments. These are in addition to the high-value clearing, transactional FX and pooling services the bank already offers.
Philip Panaino, global head of cash management, says: “We are offering a wide range of opportunities to existing and new clients, from setting up operating subsidiaries to running regional or global treasury centres, trading centres, or investment arms in Europe. We are not only aiming to serve our European client base, but also our Asia, Africa and Middle East clients who are looking to do more business in to Europe.”
The bank is also providing solutions for the complex needs of central treasuries, in-house banks, trading centres and billing hubs operated by its clients, including global pooling structures.
“This is a transformational development as we begin to offer this enhanced cash management service across our global footprint, reinforcing Europe as a key location to access our unique network, which enables us to further support our clients and their business,” says Karin Flinspach, regional head of transaction banking, Europe and Americas.