Earthport, the global payments utility, is pleased to announce that Standard Chartered Bank ('SCB') has signed an agreement appointing Earthport to deliver an operational turnkey remittance solution to SCB as soon as is possible.
The first phase of this solution will be delivered by the 25th June 2008.
This initial remittance solution will cover the UAE region. The intention of this is to target the large number of overseas workers who send money home internationally. It is anticipated that this will then be rolled out in other SCB territories following this initial deployment.
James Bergman, Executive Director, Earthport, said: "This contract win demonstrates that Earthport can satisfy the growing demand for our services for even the largest banks in the world. It is encouraging that SCB have firmly grasped the benefits of our model and articulated these as being: quick time to market, low cost of adoption, flexibility and little disruption to existing services."
Mike Harrison, Executive Chairman, Earthport, said: "A successful standard is defined by its level of adoption. Major global institutions now adopting the Earthport utility clearly demonstrate another great milestone for our business."
Pramod Veturi, General Manager Consumer Transaction Banking, Standard Chartered, UAE, commented: "I confirm that this is a very exciting project for Standard Chartered, and we believe that this deliverable is the beginning of a long and prosperous relationship."