Standard Chartered said that it has launched enhanced online banking foreign exchange (FX) services through its Straight2Bank platform.
It added that the new service brings a choice of 130 global currencies to clients in the United Arab Emirates (UAE), Bahrain, Oman and Qatar and is accessible to its corporate clients via the bank’s online banking platform. Clients will be able to instantly access international trade currencies within Straight2Bank and accelerate currency payments for Middle East, Asia and intra-Middle East trade relationships.
In addition to a wider choice of trade currencies, corporate clients can also access instantaneous foreign currency quotations, again using the Straight2Bank corporate online banking portal Straight2Bank. The request for quote (RFQ) feature allows customers to bypass having to call for currency quotations from a bank’s local treasury desk, in order to trade in a company’s currency of choice. They can instead receive an almost instantaneous quotation by selecting their currency and volumes for conversion online, with the option to accept or decline within minutes.
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
The Danish shipping and oil conglomerate confirmed that it will separate its businesses into stand-alone transport and energy divisions.
The central bank has tweaked its stimulus programme and is making a fresh effort to push Japan’s inflation rate above its 2% target.
Despite faster payment technologies, business-to-business payments by paper cheque show no sign of decline from three years ago.