Standard Chartered Bank says it has made improvements to its e-banking services, with the aim of providing more customers with faster online access without compromising security or privacy.

"The adjustments are available in Asia, Africa and the Middle East. They are aimed at giving our customers greater access to e-banking services," according to a report quoting Stanchart's head of transactional banking for Southeast Asia, Aldian Arief Djanin.

Trade services improvements

Djanin told the Jakarta Post that the improved WebBank system allows customers to access their accounts and manage their cash, trade and securities affairs at any time through any kind of Internet connection. The improvements would benefit the bank's individual and small- and medium-sized enterprises he said.

The bank official particularly noted what he claims to be an easy to use mechanism for issuing letters of credit (L/Cs) in the system. Bank and shipping guarantees can be accessed via WebBank too.

Better facilities

The system also allows clients to send purchase documents, keep transaction drafts or duplicates, view the latest foreign exchange rates and monitor bank account activity.

According to Stanchart's trade sales director, Geoffry Nugraha, WebBank provides customers with better facilities with which to do business with partners in foreign countries.

L/C elimination

Since the bank has offices in so many countries throughout the world, he claims according to the report in the Jakarta Post that it can also act as a mediator for importers and exporters in different countries and reduce the need for L/Cs in international trade.

"Our services basically eliminate the need for a L/C for insuring an export-import transaction. The bank itself will make sure that a trade transaction went smoothly as expected," Nugraha reportedly said.

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