LONDON & NEW YORK–(BUSINESS WIRE)–Standard Chartered Bank (the “Bank”) has been appointed as OANDA’s cash management bank for payments and collections in the United States and United Kingdom; an extension of an existing relationship covering the Singapore market. The Bank has also been mandated as OANDA’s foreign exchange (FX) prime broker for its retail FX business internationally.
Through this mandate, OANDA will be able to manage its payments and collections through streamlined Cloud-based processing services across various geographies via the Bank’s Straight2Bank platform.
With Cloud-based payment processing solutions such as Automated Clearing House (ACH) in the United States, OANDA will be able to improve its speed to market through faster service enhancements and the potential to apply new payments schemes reliably and securely.
“Standard Chartered’s ability to offer a one stop Cloud-based solution that encompasses foreign exchange, prime brokerage, payments, collections, and FX hedging is aligned with our mission to efficiently support our retail and corporate clients across the globe,” says Gavin Bambury, Chief Executive Officer of OANDA. “We look forward to the continued partnership and the opportunity to bank with them across different markets.”
“This mandate is a wonderful demonstration of our ability to offer international clients with localized and regional solutions that support their growth ambitions,” said Karen Hom, Managing Director of Transaction Banking at Standard Chartered Americas. “As treasury teams seek flexible and seamless processing experiences, Cloud-based payment solutions will offer forward looking companies like OANDA the opportunity to scale and grow efficiently.”
Founded in 1996, OANDA was the first company to share exchange rate data free of charge on the Internet, launching an FX trading platform that helped pioneer the development of web-based currency trading five years later. Today, the OANDA group, which includes OANDA Corporation, OANDA Europe Limited, OANDA Asia Pacific Pte Ltd and other subsidiaries of OANDA Global Corporation, provides online multi-asset trading, currency data and analytics to retail and corporate clients around the globe, demonstrating an unrivaled expertise in foreign exchange. With regulated entities in nine of the world’s most active financial markets, OANDA remains dedicated to transforming how the world interacts with trading, enabling clients to trade global market indices, commodities, treasuries, precious metals and currencies on one of the fastest trading platforms in the market.
About Standard Chartered
We are a leading international banking group, with a presence in 59 of the world’s most dynamic markets, and serving clients in a further 83. 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.
Our history in the US dates back to 1902, and we are currently present in eight locations throughout the Americas. Our Americas franchise focuses on financial institutions and select corporates and plays a key role in facilitating trade and investment flows between the Americas and Asia, Africa, and the Middle East.
Standard Chartered PLC is listed on the London and Hong Kong Stock Exchanges.
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Read More:Standard Chartered Appointed Cash Management Partner and FX Prime Broker for OANDA in USA, UK, and Singapore