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TRADE FINANCE | Staff Reporter, Singapore

Standard Chartered adds new features to Straight2Bank Mobile

The enhancements allow clients to review their transaction history, operating loans and deposits, and 3rd party bank account balances.

In a release, Standard Chartered Bank announced a new build for its Straight2Bank Mobile that provide corporates with greater efficiencies around working capital management through on-demand oversight of accounts (that enables faster and more informed decision making), better cash flow forecasting, and increased control and visibility.

The remote payment and trade transaction authorization app now includes balance inquiry, mini statement functions, trade limits and utilization advisory, LC summary, bills for collections and guarantees.

Developed based on client feedback, the new enhancements are designed to improve cash flow forecasting and allow clients to review their transaction history, operating loans and deposits, and 3rd party bank account balances.

Additionally, corporates can also keep up to date with the latest utilisation of trade limits, guarantee statuses, and letters of credit and bills due.

Commenting on the new features, Gautam Jain, Global Head of Client Access, said, “Our client driven strategy underpins our drive to continuously innovate and offer client access through electronic banking channels. We are confident that today’s enhancements will enable greater efficiencies in corporate financial processes, and offer greater control and visibility over working capital management, thus enabling greater optimisation of their physical and financial supply chains.”

Straight2Bank Mobile is part of Standard Chartered’s fully integrated electronic Straight2Bank platform which gives clients a single point of access for their transaction, hedging and information needs across the working capital products for corporates and financial institutions.

The Straight2Bank Mobile payment & trade authorisation tool is available on iOS, with Blackberry and Android versions due to be released shortly.  

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