Truist Partners with Standard Chartered to Strengthen Trade Finance Capabilities in Emerging Markets
- Truist clients will have enhanced global business capabilities
- Access to Standard Chartered's trade finance services in emerging markets
- Seamless and efficient business solutions for importers and exporters
- None.
Through this strategic partnership, Truist Bank and Standard Chartered aim to create a seamless and efficient business environment for importers and exporters in the
Key Highlights of Trade Finance Services Partnership Are:
Export and Import Letters of Credit: Truist will gain access to Standard Chartered’s footprint and ability to monitor transactions in real time for the entire value chain of documentary trade. In markets where Standard Chartered has a presence, Truist clients that want to purchase or sell goods and services will be able to confirm, advise, or discount letters of credit through the Bank.
Standby Letters of Credit (SBLC): Truist clients can execute performance and commercial contracts with counterparts in markets that require local knowledge and expertise in addition to local SBLC delivery capabilities. Standard Chartered’s unique solution will allow Truist to process and issue SBLCs end-to-end using the Bank’s network to improve turnaround times and provide transparency on cost.
“We are proud to have a strong network across the world’s most dynamic emerging economies and regions, which have the
“Many of Truist’s corporate and commercial clients operate in the global economy and require solutions that allow them to complete transactions effectively across borders and throughout the supply chain,” said Chris Ward, Head of Wholesale Payments at Truist. “This partnership will allow our clients to more efficiently achieve their goals, scale their business, invest in their teams and build their communities.”
About Truist
Truist Financial Corporation (NYSE: TFC) is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets in the country and offers a wide range of products and services through our retail and small business banking, commercial banking, corporate and investment banking, insurance, wealth management, and specialized lending businesses. Headquartered in
About 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.
Our history in the US dates back to 1902, and we are currently present in eight locations throughout the
Standard Chartered PLC is listed on the
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View source version on businesswire.com: https://www.businesswire.com/news/home/20230919936012/en/
Media:
Brian Boudreaux
Truist Bank
media@truist.com
Sammi He
Standard Chartered Americas
Sammi.he@sc.com
Source: Standard Chartered