S2B Loans: Standard Chartered Digitizes Loan Drawdown Process on Straight2Bank

credit: “Standard Chartered Bank”

(IN BRIEF) Standard Chartered has launched a new working capital and lending capability on its online banking platform, Straight2Bank (S2B). The S2B Loans module enables clients to initiate and approve new loan drawdown and rollover requests, view real-time updates on facility limits and utilisations, and track outstanding transactions and repayment dates through an easy-to-use interface. The new capability eliminates the challenges associated with paper-based loan drawdowns, including the inefficient process of physical signatures and manual tracking of limits and transaction status. S2B Loans is available in Standard Chartered’s key markets, with a progressive rollout across the rest of its footprint.

(PRESS RELEASE) SINGAPORE, 22-Mar-2023 — /EuropaWire/ —  Standard Chartered (LON: STAN), a leading international banking group, has announced the global launch of a new working capital and lending capability on its online banking platform, Straight2Bank (S2B), for businesses to manage their transaction banking needs. The new module, S2B Loans, enables clients to initiate and approve new loan drawdown and rollover requests, view real-time updates on facility limits and utilisations, and track outstanding transactions and repayment dates through an easy-to-use interface.

By digitizing and simplifying the end-to-end exchange of information, clients can benefit from greater transparency and cost efficiencies across the supply chain. The new capability eliminates the challenges associated with paper-based loan drawdowns, including the inefficient process of physical signatures and manual tracking of limits and transaction status.

S2B Loans is now available in Standard Chartered’s key markets, with a progressive rollout across the rest of its footprint. This launch highlights the bank’s commitment to providing innovative digital solutions that improve the customer experience and support businesses in managing their financial needs efficiently.

Jia Yu Liao, Global Head of Working capital, said: “With the launch of our working capital and lending capability on S2B, our clients can now view transaction information across their cash, trade and working capital facilities in a single interface. Not only does this offer a faster and more seamless experience for corporates in making better working capital decisions, the move to a paperless process is also a step forward in our journey towards sustainability.”

Commenting on the new capability, Longhorn Publishers, a Pan-African publishing house who is a pilot client, said: “We would like to commend Standard Chartered for the continued improvement of their S2B platform. The recent digitisation of term loan drawdowns has been a great transformation to us. Some of the immediate benefits we have experienced include time saving, convenience and improved decision making. We are now able to access all facility related information at any time which helps us to plan better, unlike previously where we had to request from the bank which would take some time. This has positively impacted our user experience and is also a great contribution to going green.”

Find out more S2B Loans in this video: https://www.youtube.com/watch?v=mEZlnEISiM0

For further information please contact:

Josephine Wong
Group Media Relations
+65 6981 1514

SOURCE: Standard Chartered

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