Standard Bank has signed an agreement with CCRManager Pte
Ltd, a global trade FinTech company, joining their global innovative electronic
platform as a member bank.
“We are delighted to have joined CCRManager’s distribution
platform, which offers an automated, fast and transparent platform for trade
risk distribution and participation”,
says Vinod Madhavan, Group Head of Trade
for Standard Bank. “As the first African bank to have joined this
network, this presents us with many opportunities, including being able to show
African trade risk to international banks that are members of CCRM, and is
aligned with our desire to connect Africa to the world.”
CCRManager is a web-based platform that enables banks to
manage the entire process of distributing trade finance internationally to
other banks, credit insurers, and fund managers.
“CCRManager is delighted to have Standard Bank as its first
African member bank,” says Kah Chye Tan, Chairman, CCRManager. “Africa is
a major trade partner for countries all over and trade finance has played an
important role in promoting African imports and exports for many decades.
We are confident that CCRManager will help Standard Bank with its trade finance
for its clients.”
Users of CCRManager are able to list trade assets and
contingents for distribution, negotiate deals, and manage supporting
documentation in a secure environment. Users also have access to tools for data
analytics, market benchmarking, and pricing indices. In addition, CCRManager
provides users with the ability to manage their portfolio, reporting, and
compliance activities 24-hours a day.
“This partnership represents Standard Bank’s dedication to
leverage world-leading digital platforms that help realise efficiencies in a
globally competitive market place,” says Mr Madhavan. “At Standard Bank,
we recognise the potential of trade as a key driver for growth, especially in
emerging and frontier markets.”
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