Standard Chartered has launched ‘Asia Link Accounts’ for regional and domestic OECD banks with corporate clients conducting business in Asia.
Asia Link Accounts features a range of transaction services that include payments and collections, liquidity management and reporting in the local Asian time zone.
“Asia Link Accounts offer OECD banks greater ability to broaden their offerings beyond what a traditional Nostro account offers by identifying and supporting the specific needs of the corporate client,” said a statement from the company.
The statement added that OECD companies which are increasingly conducting and expanding their business reach in the emerging markets of Asia will require a robust solution, without the intricacies of establishing their own networks in Asia.
Commenting on the launch, Madhavan Ramaswamy, global head of product management, said: “With Asia Link Accounts, OECD banks can expand their international reach into Asia with no additional investment. In addition, they will be able to support their corporate clients’ growth ambitions in the emerging economies with reduced time to market and at lower costs.
"Our strong presence in Asia enables us to navigate the local complexities and offer OECD banks high quality cash management services across our footprint.”
The service facilitates transactions in 11 key global currencies: AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, RMB, SGD and USD.
