Earthport has signed an agreement with Standard Chartered to provide its international payments service for the bank’s corporate and financial institution customers in the fast growing international trade markets of Africa and Asia.
Through the integrated service, Standard Chartered’s customers will be able to choose to route international payments to their beneficiaries through local clearing. Banks connecting in to the Earthport service can route low value payments through the most efficient clearing schemes in 65 countries.
“We are seeing strong demand for more efficient cross-border payment and settlement solutions as our Asia, Africa and Middle East clients grow and expand their operations internationally,” said Karin Flinspach, head, cash products, transaction banking at Standard Chartered.
“This alliance with Earthport increases the bank’s coverage to better support our clients payments needs across our footprint. Our corporate, institutional and retail clients are looking for convenient ways to make cross border and cross currency payments in a predictable and transparent manner; International automated clearing house [ACH] provides them with just that.”
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