Regional winner Standard Chartered operates an outstanding franchise in Asia-Pacific. The bank’s comprehensive service offerings span 13 countries. High levels of service and an expanding range of asset classes for institutional investors have led to strong growth in assets under custody from existing clients and new mandates in these markets. In recognition of this progress, Standard Chartered is also our choice as country winner in Malaysia, Pakistan, the Philippines, Singapore, Sri Lanka, Taiwan, and Vietnam.
Much of the bank’s success can be attributed to its client-engagement strategy, which combines high levels of service with efficient client onboarding, effective account management, and tailored offerings. This approach provides clients with sound market guidance to navigate industry complexities.
Standard Chartered continues to broaden its offerings with initiatives in numerous countries. In Malaysia, the bank expanded its transfer-agent services through its ViTAL offering, which utilizes blockchain technology for asset management. Standard Chartered is also the first and only foreign bank to be appointed as an Islamic securities settlement bank by Bursa Malaysia.
The bank is very responsive to regulatory developments and became the first to obtain collateral custodian approval from the Taiwan exchange in compliance with new Qualified Foreign Institutional Investor requirements. The local operations migrated to the core custody system, SeCCuRe, for consistency of service. Enhancements to the bank’s system serving the Chinese market are now integrated with the country’s system infrastructure to allow for automated reconciliation, payment, and settlement of exchange-traded fund (ETF) investments.
In South Korea, Standard Chartered is a Registered Foreign Institution (RFI) and launched RFI Agent Services to support offshore financial institutions participating in the interbank foreign exchange (FX) market. The bank’s AccessFintech message-delivery channel has resulted in a significant reduction in client inquiries. Efficiencies in FX administration were implemented in this market and Indonesia through an FX API solution that manages documentation for FX trading. In other markets, the bank expanded its trustee services in Hong Kong and successfully advocated the elimination of prefunding requirements for foreign investors transacting in equities in Vietnam.
Methodology
In selecting the institutions that reliably provide the best services in these local markets and regions, Global Finance’s editorial board considered market research, input from expert sources, and entry information from the banks themselves. The criteria included such factors as customer relations, quality of service, technology platforms, and post-settlement operations, as well as knowledge of local markets, regulations, and practices.
