Standard Chartered has announced a huge victory for its regional cash management business, winning a multiple country mandate from Prudential Corporation Asia amid heavy competition from rival banks. The deal, which was formally announced in December, is the largest ever insurance-based cash management award in Asia-Pacific and will cover the nine countries where the UK-based insurer has a presence.
Within the deal, which surpasses all other Asia insurance industry cash management deals by transaction volumes and overall values, Standard Chartered will provide Prudential Corporation Asia with a solution that encompasses payments, collections and liquidity management under one platform for streamlined processing.
The appointment of Standard Chartered Bank as our cash management provider in nine...
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