, Singapore

StanChart provides cash management solution for Schlumberger across Asia

It will cover 13 markets.

According to a release, Standard Chartered has been selected to provide a comprehensive cash management and trade guarantee solution for the Asian business of Schlumberger, the world’s largest oilfield services company.

Under the mandate, Standard Chartered has become the primary cash management partner for Schlumberger in 13 markets (12 countries in Asia and Ghana).

With its expansion in a growing number of markets in Asia, Schlumberger was seeking ways to optimise its working capital management processes across Asia.

Standard Chartered has developed a tailored centralised payments and regional liquidity management solution for Schlumberger by simplifying its banking structure, improving and standardising cash management practices across the region and optimising returns on trapped cash in restricted local markets.

Centralisation and automation are key features of the solution which uses SWIFT Fileact as delivery mechanism for industry standard ISO XML file for payments.

Credit facilities supporting the cash management and trade guarantees are consolidated under the regional umbrella agreements, and cash management processes are integrated to support Schlumberger’s Shared Service Centre in Kuala Lumpur, Malaysia.

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

What is Lorem Ipsum?
What is Lorem Ipsum? Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and scrambled it to make a type specimen book. It has survived not only five centuries, but also the leap into electronic typesetting, remaining essentially unchanged. It was popularised in the 1960s with the release of Letraset sheets containing Lorem Ipsum passages, and more recently with desktop publishing software like Aldus PageMaker including versions of Lorem Ipsum.

Exclusives

Sed molestie interdum dui sit amet egestas
It is a long established fact that a reader will be distracted by the readable content of a page when looking at its layout.
CIMB Niaga leads the way in captivating Indonesia’s youth
The bank’s digital solutions are winning over younger generations with 3.2M mobile users and 96% digital transaction rate in 2023.