9 Dec 2014 07:00
09 December 2014
RNS Reach
STANDARD CHARTERED CHOOSES EARTHPORT FOR GLOBAL PAYMENTS The innovative cross-border payments service gives Standard Chartered competitive advantage in high growth emerging markets
Further to the announcement on 7 October 2014, Earthport (AIM: EPO) is pleased to provide additional details regarding the contract with Standard Chartered. No financial terms have been disclosed.
Through the agreement with Standard Chartered, Earthport will provide its efficient and secure international payments service to benefit 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, giving them control, choice and flexibility.
By adopting Earthport's service, Standard Chartered has rapidly reduced the time to deliver a solution to their customers' evolving international trade requirements. Banks connecting in to the Earthport service can route low value payments through the most efficient clearing schemes in 65 countries.
Standard Chartered was recently voted the best global transaction bank in The Banker's 'Transaction Banking awards.' This award was based on its work in emerging markets, particularly Asia.
Karin Flinspach, Head, Cash Products, Transaction Banking at Standard Chartered commented: "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. 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 ACH provides them with just that."
Hank Uberoi, CEO of Earthport, commented: "We are delighted to be collaborating with Standard Chartered to bring the benefits of our innovative payments model to enhance their product offerings to corporate customers. This agreement, with a bank serving customers in some of the world's fastest growing markets, is welcome proof that there is a better way to service the international payments of today and tomorrow."
For further information, please contact:
Earthport plc Hank Uberoi
| 020 7220 9700 |
Charles Stanley Securities Mark Taylor / Paul Brotherhood
| 020 7149 6000 |
Panmure Gordon Fred Walsh / Duncan Monteith / Maisie Atkinson
| 020 7886 2500 |
Newgate Threadneedle John Coles / Jasper Randall / Tim Thompson
| 020 7653 9850 |
About Standard Chartered
Standard Chartered
We are a leading international banking group, with more than 86,000 employees and a 150-year history in some of the world's most dynamic markets. We bank the people and companies driving investment, trade and the creation of wealth across Asia, Africa and the Middle East, where we earn around 90 per cent of our income and profits. Our heritage and values are expressed in our brand promise, Here for good.
Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges as well as the Bombay and National Stock Exchanges in India.
For more information please visit www.sc.com. Hear from Standard Chartered's experts and comment on our blog at ourviews.sc.com. Follow Standard Chartered on Twitter, LinkedIn and Facebook.
About EarthportEarthport plc is a regulated financial services organisation and the largest open network for global bank payments through its cross-border payments infrastructure.
Through its innovative payments framework, specifically designed for high volumes of low value cross-border payments, Earthport provides a cost-effective and transparent service for secure international payments. Earthport's clients include banks, money transfer organisations, payment aggregators, e-commerce and foreign exchange businesses. Awarded B2B Payments Innovation of the Year 2014 at the second annual FStech/Retail Systems Payments Awards, Earthport's well established payments infrastructure clears and settles payments directly to banked beneficiaries in 65 countries on behalf of its clients.
The company is headquartered in London and is listed on the Alternative Investment Market (AIM) on the London Stock Exchange. It operates globally with additional regional offices in Dubai and New York. Earthport plc is authorised and regulated by the Financial Conduct Authority under the Payment Service Regulations 2009 for the provision of payment services. To learn more, please visit www.earthport.com and follow us via RSS or on social channels, Twitter @Earthport, LinkedIn, Youtube and Slideshare.