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Standard Bank targets working-capital advisory role for multinationals

By David Whitehouse
Posted on Monday, 22 November 2021 17:46

Standard Bank aims to use treasury management as a tool to become an advisor to global corporates on working-capital management, head of transactional products and services, Crosby Mkhwanazi tells The Africa Report.

In February, Africa’s largest bank by assets launched its treasury management service to provide a tool that allows corporates to view their daily liquidity position. Currently, this is difficult for companies with multiple bank accounts in different countries, Mkhwanazi says in Johannesburg.

The bank has been seeking to use fintech to expand the services it can offer to corporate clients. It has used blockchain to facilitate cross-border trade, and in 2019, it partnered with fintech Traydstream to digitise the process of trade document validation. In October, the bank partnered with Nigerian unicorn Flutterwave to improve its digital payments offer.