Standard Chartered Bank has won the 2022 Best Trade Finance Provider in Kenya award for its trade innovation in product capabilities and focus on client-centricity. The bank was awarded for its services and products that addressed key client challenges brought about by the pandemic.
The editorial review board of Global Finance Awards selected the best trade finance providers based on entries from banks and input from industry analysts, corporate executives, and technology experts. Criteria for the awards included transaction volumes, scope of global coverage, customer service, competitive pricing, and innovative technologies.
Standard Chartered has continued to leverage its strong network capabilities to facilitate business and seamless transactions for clients’ cross-border payments, trade, investment and development needs across Africa, Asia and the Middle East. This is anchored by the digital strategy which saw their Straight2Bank online banking platform being upgraded to provide overall banking services.
Commenting on the award, Makabelo Malumane, Head of Transaction Banking, Kenya and East Africa at Standard Chartered Bank said, “This award from a recognized Financial Industry player is a testament to the trade and working capital capabilities that we offer our clients and the impact this has on their businesses and the underlying economy at large. Through innovative trade solutions coupled with a customer centric approach, we have customized and structured our solutions to support our clients even during the height of the pandemic taking into consideration the various unique and sophisticated requirements that emerged during this period.”
The Bank’s practical approach to supply chain finance under the banner of Banking the Ecosystem has also enabled the bank to support SMEs clients with a full suite of Trade Finance propositions to meet their evolving business needs. The bank also caters for clients’ requirements ranging from documentary and flow trade to open account trade propositions, including structured trade solutions.