Standard Chartered has signed a multi-year agreement with Earthport, a cross-border payments services provider, to extend its International Automated Clearing House (IACH) reach across 50 markets.
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Integration with Earthport’s suite of validation services, predictable settlement dates and transaction reporting will benefit the bank’s clients from seamless access to a wider local clearing networks.
The alliance will build on Standard Chartered’s IACH payments solution that efficiently executes high-volume cross-border payments like payroll, dividend and other statutory payments for clients across Asia, Africa and the Middle East and will expand its coverage globally.
Karin Flinspach, head of cash products and transaction banking at Standard Chartered, said: "This alliance with Earthport increases the Bank’s coverage to better support our clients’ payment needs across our footprint.
"Our corporate, institutional and retail clients are looking for convenient ways to make cross-border and cross currency payments in a predictable and transparent manner; International ACH provides them with just that."
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