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Business Reporter
Standard Bank has signed an agreement with CCR Manager Pte Ltd, a global trade FinTech company, joining their global innovative electronic platform as a member bank.

“We are delighted to have joined CCR Manager’s distribution platform, which offers an automated, fast and transparent platform for trade risk distribution and participation”, says Vinod Madhavan, group head of trade for Standard Bank.

“As the first African bank to have joined this network, this presents us with many opportunities, including being able to show African trade risk to international banks that are members of CCRM, and is aligned with our desire to connect Africa to the world.”

CCR manager is a web-based platform that enables banks to manage the entire process of distributing trade finance internationally to other banks, credit insurers, and fund managers.

“CCR Manager is delighted to have Standard Bank as its first African member bank,” says Kah Chye Tan, chairman, CCR manager.

“Africa is a major trade partner for countries all over and trade finance has played an important role in promoting African imports and exports for many decades. We are confident that CCR Manager will help Standard Bank with its trade finance for its clients.”

Users of CCR Manager are able to list trade assets and contingents for distribution, negotiate deals, and manage supporting documentation in a secure environment. Users also have access to tools for data analytics, market benchmarking, and pricing indices. In addition, CCR Manager provides users with the ability to manage their portfolio, reporting and compliance activities 24-hours a day.

“This partnership represents Standard Bank’s dedication to leverage world-leading digital platforms that help realise efficiencies in a globally competitive market place,” says Mr Madhavan.

“At Standard Bank, we recognise the potential of trade as a key driver for growth, especially in emerging and frontier markets.”