Standard Chartered Bank (SCB) was recently recognized for its achievements in transaction banking, winning a total of 97 awards across its markets during The Asset Triple A Awards 2022. The bank was also named the Best E-Solutions Service Provider in the Philippines.
Transaction banking is a banking service that allows for the safe flow of money from one country to another (cross-border payment transactions). It plays a significant role in the functioning of a corporate or a banking institution and also includes trade financing deals, mitigation of risks, cash flow management services, and security services meant to improve the relationships between banking institutions, clients, and partners.
“This award highlights the bank’s commitment to roll out our digital capabilities with the aim of providing innovative solutions and services to support our clients’ digitalization efforts. We would like to take this opportunity to thank our clients for their continued trust,” said KC Huang-Hernandez, Head of Transaction Banking of SCB Philippines.
Adopting digitalization to build resilience, efficiency
Standard Chartered Bank (SCB) has adopted digitalization to build resilience and efficiency. The bank has continued to invest in technology platforms to achieve transformative growth and deliver the best client experience. Its network of alliances is also aimed at complementing its client-centric service culture.
Among the priority benefits that the bank offers its clients are preferential pricing on deposits and loans, as well as fee waivers (discounts) on their routine banking transactions locally and overseas. This service also includes complimentary international fund transfers and overseas withdrawals at Standard Chartered and Visa/Plus/Cirrus ATMs worldwide.
SCB Philippines has also been one of the few global banks to roll out InstaPay in its e-channels and offer an open loop collection gateway service through its Straight2Bank Pay. This gives SCB’s clients access to online collections from various InstaPay and PESONet participating institutions.
The bank has also launched its Open Banking Application Programming Interface (API) services geared toward providing efficient services to its clients, including cash disbursement requirements, notifications, and real-time alerts.
