Olea and Standard Chartered Sign MOU to Enhance Support for SMEs

Olea and Standard Chartered Sign MOU to Enhance Support for SMEs

(IN BRIEF) Olea Global Pte Ltd, a leader in digital infrastructure platforms, has signed a memorandum of understanding with Standard Chartered to bolster small and medium-sized enterprises (SMEs). This strategic partnership aims to develop integrated supply chain solutions and other innovative products for Standard Chartered’s SME banking clients. The collaboration will leverage Olea’s digital expertise and Standard Chartered’s robust banking and funding resources, focusing on joint acquisitions, marketing, and service provisions in key strategic markets. Amelia Ng, CEO of Olea, emphasized the commitment to customer-centric solutions, while Xie Wen, Global Head of SME Banking at Standard Chartered, highlighted the goal to simplify banking and enhance client experiences for entrepreneurs.

(PRESS RELEASE) LONDON, 7-May-2024 — /EuropaWire/ — In a significant move aimed at boosting small and medium-sized enterprises (SME) growth, Olea Global Pte Ltd (Olea) has formalised a memorandum of understanding (MOU) with Standard Chartered.

The MOU symbolises a strategic alliance between Olea, a leading digital infrastructure platform, and Standard Chartered, a leading international banking group.The MOU will pave the way for the exploration of integrated strategies across several sectors. Spearheading the initiatives is the formulation of supply chain solutions to Standard Chartered’s SME Banking clients. The innovative products and digital infrastructure of Olea and robust banking and funding capabilities of Standard Chartered will underpin this collaboration.

The collaboration also entails the potential joint acquisition, marketing and service provision to deliver an innovative product to Standard Chartered’s SME Banking customers in key strategic markets.

Amelia Ng, CEO, Olea said: “This strategic partnership illustrates our unwavering commitment to innovation in delivering customer-centric solutions. This partnership brings together technology, financial sophistication with customer reach, and allows us to create trade solutions designed for the SME sector.”

Xie Wen, Global Head, SME Banking, Standard Chartered said: “We make banking easy, so clients can focus on what matters most to them and grow their businesses. In addition to providing the essential human touch, we are committed to working with industry partners such as Olea to strengthen our suite of tools and solutions and further enhance the client experience for busy entrepreneurs.”

Olea

Olea is a digital infrastructure platform that channels global liquidity to support trade and supply chain finance. Olea was incubated within SC Ventures. Olea builds trust in trade finance. We adopt robust risk management and governance that is compatible with international financial institutions; we innovate the delivery of trade finance as an asset class to access wider, alternative liquidity pools, and we leverage advanced technology to remove the friction in trade finance. Olea’s vision is to empower sustainable trade. We have a strong conviction in the role of trade to support sustainable economic development across countries, particularly emerging markets in Asia, Middle East and Africa where many smaller suppliers are based. Olea supports suppliers and buyers across 35 countries. For more information on Olea, please visit our website at https://olea.net/#about-olea.

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.

For more stories and expert opinions please visit Insights at sc.com. Follow Standard Chartered on X, LinkedIn, Instagram and Facebook.

Media Contacts:

William Lim
Executive Director, CEO Office
Olea
william.lim@olea.net

Cruz Teng
Director, Communications
Wealth and Retail Banking
Standard Chartered
cruz.teng@sc.com

SOURCE: Standard Chartered