Standard Chartered has launched its ‘Asia express guaranteed payments programme’ to deliver US dollar payments to Asia on the same or next day.
“With the growth of producer and consumer economies in Asia, we are seeing an increase in US dollar commercial payment volumes to the region. Standard Chartered is excited to be supporting further growth of trade in Asia,” says Madhavan Ramaswamy, global head of product management, banks, transaction banking.
The bank’s clients will benefit from increased transparency of available funds, improved timeliness and accuracy in payment execution, and guaranteed availability of funds. The programme will also improve payment efficiencies and strengthen the relationships between remitters and beneficiaries, the bank says in a statement.
The bank says that its assessment of payment traffic indicates that over half of US dollar commercial payments are destined for Asia and further growth can be expected in view of the stronger performance of many Asian economies. Standard Chartered settles one in nine US-denominated commercial payments globally.
The new payments programme is available globally to financial institution clients that make use of the bank’s US dollar clearing capability.
Last Updated February 22, 2012
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