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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Standard Chartered    STAN   GB0004082847

STANDARD CHARTERED (STAN)
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Standard Chartered : StanChart partners Zoho to enhance corporate banking experience

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04/21/2018 | 04:21pm CEST

Standard Chartered Bank today announced its alliance with Zoho to offer innovative solutions enhancing the corporate banking experience for its customers in India.

Standard Chartered Bank business account holders can now pay their supplierswhether its cross-border payments or bank transfersand automate reconciliation right from Zoho Books, Zohos cloud accounting software.

With Zoho Books giving real-time visibility into the business health, Standard Chartered Banks corporate clients can now avail the benefits of this integration in addition to supply chain financing for their SME retailers who are in need of working capital loan.

Sanjay Gurjar, Managing Director and Head, Transaction Banking (India and Nepal), Standard Chartered Bank, said, This collaboration with Zoho offers our clients a revolutionary experience, enabling them to interact with us seamlessly; resulting in simpler reconciliation, faster payments and better information delivery for clients. This further strengthens our ability to support supply chain ecosystems and our commitment to help our clients achieve their ambitions on domestic and cross border growth aspirations.

Sridhar Vembu, CEO, Zoho Corp, said, With this partnership, corporate banking functions are directly baked into their accounting software driving innumerable efficiencies. CFOs, accounts payable and receivables staff, cash managers, audit professionals will all witness rapid gains. As an example, cross-border payments requiring tiresome documentation can be directly initiated from Zoho Booksan industry first functionalityinfusing simplicity into a complex process that encourages businesses to scale globally.

Corporates having Standard Chartered accounts can effortlessly log in to Zoho Books, select the appropriate bills, and initiate payments in just a few clicks. Zoho Books intelligently shows the right payment mode (NEFT/RTGS/Bank Transfer/Telegraphic Transfer) when payments are initiated. Additionally, businesses can save more time by choosing the bulk payment option for vendor payments.

Zoho Books virtual accounts smartly match the payment to the right customer thereby simplifying the entire process of customer payment reconciliation.

With this integration, all bank transactions are fetched automatically and securely into a business Zoho Books account. Reconciliation is then simply a matter of clicking a button as Zoho Books shows the exact match for every single transaction. With transactions mapped into the right account and a detailed activity report available in Zoho Books, corporates can remain stress-free yet audit-ready.

(c) 2018 Daily Independent. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Financials ($)
Sales 2018 15 468 M
EBIT 2018 4 620 M
Net income 2018 2 238 M
Debt 2018 -
Yield 2018 2,21%
P/E ratio 2018 15,53
P/E ratio 2019 12,45
Capi. / Sales 2018 2,29x
Capi. / Sales 2019 2,15x
Capitalization 35 345 M
Chart STANDARD CHARTERED
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Standard Chartered Technical Analysis Chart | STAN | GB0004082847 | 4-Traders
Technical analysis trends STANDARD CHARTERED
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TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 11,1 $
Spread / Average Target 3,7%
EPS Revisions
Managers
NameTitle
William Thomas Winters Group Chief Executive Officer & Director
José Viñals Chairman
Doris Honold Group Chief Operating Officer
Andrew Nigel Halford Group Chief Financial Officer & Executive Director
Michael Gorriz Group Chief Information Officer
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