Standard Chartered Bank has been appointed as OANDA’s cash management bank for payments and collections in the United States and United Kingdom; an extension of an existing relationship covering the Singapore market. The Bank has also been mandated as OANDA’s foreign exchange prime broker for its retail FX business internationally.
Through this mandate, OANDA will be able to manage its payments and collections through streamlined Cloud-based processing services across various geographies via Standard Chartered’ s Straight2Bank platform.
With Cloud-based payment processing solutions such as FED ACH in the United States, OANDA will be able to improve its speed to market through faster service enhancements and the potential to apply to new payment schemes reliably and securely.
“Standard Chartered’s ability to offer a one stop Cloud-based solution that encompasses foreign exchange, prime brokerage, payments, collections, and FX hedging is aligned with our mission to efficiently support our retail and corporate clients across the globe,” says Gavin Bambury, Chief Executive Officer of OANDA. “We look forward to the continued partnership and the opportunity to bank with them across different markets.”
“This mandate is a wonderful demonstration of our ability to offer international clients with localized and regional solutions that support their growth ambitions,” said Karen Hom, Managing Director of Transaction Banking at Standard Chartered Americas. “As treasury teams seek flexible and seamless processing experiences, Cloud-based payment solutions will offer forward looking companies like OANDA – the opportunity to scale and grow efficiently.”
