Top Sub-Custodian Banks in the Asia-Pacific Region Predicted for 2025
Standard Chartered Makes Strides in Asia-Pacific Markets
Standard Chartered, a leading international bank, has been making significant strides in the Asia-Pacific region. The bank's success is rooted in its client-engagement strategy that prioritizes high levels of service, efficient client onboarding, effective account management, and tailored offerings.
In South Korea, Standard Chartered's AccessFintech message-delivery channel has led to a significant reduction in client inquiries. This achievement underscores the bank's commitment to leveraging technology to improve service efficiency.
The bank's success in South Korea extends to the interbank foreign exchange (FX) market, where Standard Chartered launched RFI Agent Services to support offshore financial institutions. Additionally, Standard Chartered is a Registered Foreign Institution (RFI) in South Korea.
In Vietnam, Standard Chartered successfully advocated for the elimination of prefunding requirements for foreign investors transacting in equities. This significant achievement positions the bank as a key player in the Vietnamese market.
Standard Chartered's growth in South Korea and Vietnam is not limited to FX administration and equity trading. The bank has also implemented efficiencies in these markets through an FX API solution.
In Malaysia, Standard Chartered expanded its transfer-agent services, utilising blockchain technology for asset management through its ViTAL offering. The local operations of Standard Chartered in Taiwan also migrated to the core custody system, SeCCuRe, for consistency of service.
Standard Chartered operates an outstanding franchise in 13 countries across the Asia-Pacific region, including Hong Kong, where the bank has expanded its trustee services. In fact, Standard Chartered became the first to obtain collateral custodian approval from the Taiwan exchange in compliance with new Qualified Foreign Institutional Investor requirements.
The bank's growth in Hong Kong is one of the examples of its expansion in various markets. Standard Chartered has also been recognised as the country winner in Malaysia, Pakistan, the Philippines, Singapore, Sri Lanka, Taiwan, and Vietnam.
Standard Chartered's system serving the Chinese market is now integrated with the country's system infrastructure to allow for automated reconciliation, payment, and settlement of exchange-traded fund (ETF) investments.
Under the leadership of CEO Bill Winters, Standard Chartered has been successful, particularly in the Asia-Pacific region. The bank provides clients with sound market guidance to navigate industry complexities.
In summary, Standard Chartered's success in the Asia-Pacific region is a testament to its commitment to client service, technology, and market knowledge. The bank continues to expand its footprint in the region, positioning itself as a key player in various markets.
