Standard Chartered and Olea Global partner to aid SME growth

Banking & Payments DECODED

Previous edition: 09 May 2024
Share article

Get the full version straight to your inbox.
Exclusive access to our best-in-class data & intelligence
Subscribe now

Go to today's edition of the newsletter

Standard Chartered and Olea Global partner to aid SME growth

Olea Global and Standard Chartered have formed a strategic partnership and formalised a memorandum of understanding (MOU) to boost SMEs.

The MOU signals an alliance between Olea, a digital infrastructure platform, and Standard Chartered.

It will spearhead the exploration of integrated strategies across several sectors and form supply chain solutions for Standard Chartered's SME Banking clients.

Furthermore, the work between Olea and Standard Chartered entails the potential joint acquisition, marketing and service provision to deliver an innovative product to Standard Chartered's SME Banking customers.

Amelia Ng, CEO, Olea said: “This strategic partnership illustrates our unwavering commitment to innovation in delivering customer-centric solutions. This partnership brings together technology, financial sophistication with customer reach, and allows us to create trade solutions designed for the SME sector.”

Xie Wen, global head, SME Banking, Standard Chartered, added: “We make banking easy, so clients can focus on what matters most to them and grow their businesses. In addition to providing the essential human touch, we are committed to working with industry partners such as Olea to strengthen our suite of tools and solutions and further enhance the client experience for busy entrepreneurs.”

Manulife Hong Kong and Macau (Manulife) and Standard Chartered Bank (Hong Kong) have also formed a distribution relationship.

With immediate effect, Manulife is now providing Standard Chartered Hong Kong’s private banking clients with a broad spectrum of solutions covering wealth accumulation, protection, savings, and legacy planning.

This serves to meet the individual financial needs of clients at various stages of life and enable them to optimise the most of their wealth in order to reach their financial objectives.

Moreover, Manulife and Standard Chartered Hong Kong have had a long-standing relationship since 2016 when they formed an exclusive 15-year pension distribution partnership.

Latest news

Artificial Intelligence - humanity's sidekick in tackling financial crime

When AI entered the mainstream, it instilled a sense of panic in many people. It was seen as a threat that would replace humans across the working world. Given the speed at which AI is advancing, and the emergence of technologies such as ChatGPT, this fear may seem reasonable.

DataMesh teams up with Visa

Australian-based paytech, DataMesh, is partnering with Visa to enhance card-acceptance payment processing experiences for merchants, acquirers, and consumers.

TISA Launches Select ID Scheme

TISA has launched Select ID, which it describes as a market-leading Digital ID scheme and marketplace. The launch is backed by a number of prominent financial and technological institutions including Barclays, Visa and Northern Trust. Select ID will allow consumers to choose their preferred Digital ID provider. At the same time, it will make it easy for companies to benefit from digital identity services that meet relevant regulatory requirements such as KYC and AML. Select ID will be positioned as the prime means for consumers to securely identify themselves to UK financial institutions with their choice of a reusable, secure Digital ID.

FinTech Scotland partners with Cisco and Sword Ping

Cisco, Sword Ping and FinTech Scotland are teaming up to foster innovation, drive technology adoption and accelerate growth within the financial technology sector whilst ensuring that cyber-resilience is at the core of fintech innovation. The partnership connects Sword Ping and Cisco expertise with the growing fintech landscape in Scotland. And it supports the continued growth of Scotland’s fintech landscape.

NAB and Banked launch Pay by Bank

Global fintech, Banked, and National Australia Bank have teamed up to accelerate the number of Australian merchants adopting and integrating account-to-account (A2A) payments solutions.

Stratiphy leads £1m consortium to advance trustworthy AI solutions in FS

A consortium led by Stratiphy aims to accelerate the development and adoption of trustworthy AI solutions within financial services. A £1m grant from Innovate UK will be used to enhance its personal investment management solution by incorporating cutting-edge AI technology within it.