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Case Study

Standard Chartered Bank’s innovative ‘single-touch’ custody model from TCS BaNCS offers investors better market access

 

An innovative single-touch custody model from TCS BaNCS enabled Standard Chartered Bank to provide its investors with a direct pipeline into the fast-growing markets of Asia, Africa and Middle East.

The Customer

Standard Chartered Bank is a prominent international banking conglomerate with a rich 150-year history of serving customers. The bank has a presence across 71 countries with 90% of its income and profits coming from the Asian, African, and Middle Eastern Markets.

Business Scenario

Standard Chartered Bank’s global custodian model and legacy systems were limiting its business. The bank wanted to revamp its existing technology system to provide customers with more relevant, real-time information about their holdings reduce risks, manage cash better, and be able to identify new opportunities. The Bank also wanted to capitalize on increased investment activity in emerging markets, increase operational efficiencies and minimize business and reputational risk.

TCS' Solution

Standard Chartered Bank partnered with TCS BaNCS to implement an innovative single-touch custody model, which could integrate the benefits of local and global approaches and offer seamless services. Standard Chartered Bank now has an integrated custody system that effectively addresses global and local requirements. 33 of 40 markets were integrated within three years of the solution’s implementation.

Benefits

The solution enabled Standard Chartered Bank with

  • Straight-Through-Processing (STP) from trade to settlement
  • Real-time updates on positions, cash, exposures, and accounting and workflow
  • Compliance with evolving market practices, such as market cutoffs, holidays, currency holidays, and market-level settlement tolerances
  • Effective Foreign Exchange (FX) handling

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