Business process, procurement and technology services provider Xchanging has won a new contract with Standard Bank, which will see the company supply financial processing services to one of Africa’s largest financial services groups, initially for one year.
Xchanging said it was selected for its experience in working with major banks to deliver complex business processing solutions, and for its innovative approach to sharing risk and reward. It will provide operational expertise in reconciliation, payment processing, origination, and data and document management.
“We are pleased to be announcing this new contract with Standard Bank,” said Ken Lever, chief executive officer (CEO) of Xchanging. “It builds on our domain strength in financial services and also represents our first major customer in Africa.”
Peter Wharton-Hood, Standard Bank Group’s chief operating officer (COO) added: “Our aim is to improve our operational efficiencies and enhance customer experience of our services. Standard Bank’s new partnership with Xchanging will help us to deliver this.”
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