Standard Chartered Bank and the leading financial services company UAE Exchange announced the signing of a strategic partnership agreement to boost collaboration between the two companies.
Under the new partnership, corporate clients of Standard Chartered Bank will be able to deposit cash in their bank accounts through UAE Exchange’s retail network of more than 150 branches in the UAE, according to a press release.
Moreover, the two companies have unveiled a Finablr company, their latest integrated and alternative solution for cash deposit management, aiming to provide the bank’s corporate clients with an efficient and cost-effective channel.
The new solution will allow corporate clients of Standard Chartered to deposit cash at the nearest UAE Exchange branch.
This service has been initiated successfully by Standard Chartered with five selected corporate clients, including BRF, one of the largest food companies in the world.
Rola Abu Maneh, CEO of Standard Chartered UAE, commented, “With our rich history of over 60 years in the UAE, Standard Chartered is well positioned to offer our clients unprecedented reach through a fully integrated and secure solution. This landmark agreement is in line with the Bank’s approach of deepening its client relationship by providing world-class financial solutions.”
In turn, Pradeep Kumar T. P., CEO of UAE Exchange and Unimoni, said: “Our long-standing relationship with Standard Chartered builds on our collective synergies that aim to provide innovative solutions which redefine the financial services industry.
“As a customer-centric brand with strong capabilities, we continuously look out for opportunities and newer ways to enhance and broaden our portfolio of services. We are proud to partner with Standard Chartered Bank for this first-of-a-kind initiative that complements our services and further empowers corporate customers,” he added.
Standard Chartered and UAE Exchange seek to strengthen their coordination by adding new services under this partnership.