Standard Chartered Unveils Straight2Bank Autoquote for Enhanced Digital Trade Finance

Standard Chartered Unveils Straight2Bank Autoquote for Enhanced Digital Trade Finance

(IN BRIEF) Standard Chartered has launched a new digital feature called Autoquote on its Straight2Bank Next Gen platform, enabling clients worldwide to request and accept pricing quotations for letters of credit (LCs) conveniently and at any time. This innovative request for quote (RFQ) module digitizes the traditionally manual process of obtaining LC confirmation and discounting/negotiation quotes, allowing clients to submit requests digitally and receive immediate responses. The Autoquote feature enhances efficiency and provides greater transparency, as clients receive alerts and notifications about their quotation status and can manage their quotation history easily. Samuel Mathew, Global Head of Documentary Trade at Standard Chartered, emphasized that this development reflects the bank’s ongoing commitment to improving client experience through efficient and transparent digital trade finance solutions. Standard Chartered is recognized as one of the largest Trade Finance and Working Capital banks globally, serving clients across over 51 markets.

(PRESS RELEASE) LONDON, 14-Oct-2024 — /EuropaWire/ — In a significant advancement in digital banking, Standard Chartered has launched Autoquote, a new feature on its Straight2Bank Next Gen platform. This innovative request for quote (RFQ) module allows clients worldwide to digitally initiate and accept quotations for letters of credit (LCs) at their convenience, anytime and anywhere.

With the introduction of Autoquote, the bank aims to streamline the often cumbersome process of obtaining pricing quotations for LC confirmation and discounting/negotiation. Clients can now effortlessly submit a digital request and receive immediate pricing information, transforming what was typically a multi-step, manual task into a swift and user-friendly experience. This enhancement not only boosts efficiency but also provides clients with greater transparency regarding their quotations. They can stay updated on the status of their requests through real-time alerts and notifications, as well as easily access and manage their quotation history.

Samuel Mathew, Global Head of Documentary Trade at Standard Chartered, stated, “Traditionally, clients faced a lengthy and complicated process when requesting and accepting LC pricing quotes. By digitizing and simplifying this process, we are aligning with our commitment to enhancing the client experience and providing efficient, safe, and transparent digital trade finance solutions.”

As one of the largest Trade Finance and Working Capital banks globally, Standard Chartered offers premier services and solutions across more than 51 markets, connecting corporations and institutions through the world’s most vibrant trade routes.

For a closer look at the capabilities of Straight2Bank Autoquote, watch the informative video linked here.

Standard Chartered

We are a leading international banking group, with a presence in 53 of the world’s most dynamic markets and serving clients in a further 64. Our purpose is to drive commerce and prosperity through our unique diversity, and 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.

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Media Contacts:

Alvina Neo
Standard Chartered
+65 6981 5796
Alvina.neo@sc.com

Shaun Gamble
Standard Chartered
+44 7766 443662
shaun.gamble@sc.com

SOURCE: Standard Chartered