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Standard Chartered improves Straight2Bank Mobile with new features for trade finance

Standard Chartered Bank has released a new build for its Straight2Bank Mobile that provides corporates with greater efficiencies around working capital management through on-demand oversight of accounts, better cash flow forecasting, and increased control and visibility. The remote payment and trade transaction authorization app now includes balance inquiry, mini statement functions, trade limits and utilization advisory, LC summary, bills for collections and guarantees.

It developed based on client feedback; the new enhancements are designed to improve cash flow forecasting and allow clients to review their transaction history, operating loans and deposits, and 3rd party bank account balances. Additionally, corporates can also keep up to date with the latest utilisation of trade limits, guarantee statuses, and letters of credit and bills due.

Straight2Bank Mobile is part of Standard Chartered's fully integrated electronic Straight2Bank platform, which gives clients a single point of access for their transaction, hedging and information needs across the working capital products for corporates and financial institutions. The Straight2Bank The mobile payment trade authorisation tool is available on iOS, with Blackberry and Android versions due to be released shortly.

Mobile apps are becoming pretty ubiquitous. All leading cash management banks have them. They are not all the same. How do corporate treasury departments check them out? Decide which bank mobile apps they will use and which they won't, and for which services?

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