In an effort to improve cross-border banking services to its corporate customers Nordea has joined the Ibos international cash management alliance, and reached a correspondent agreement with Standard Chartered for Asian market coverage.
"Through the agreement with Ibos, Nordea can now offer corporate clients doing business cross borders a local bank contact with seamless cross-border services and a common charter," says Henrik Mogensen, head of corporate division of Nordea and chairman of the board of Ibos.
The Ibos banking network offers access to some 20,000 branches worldwide.
The cooperation arrangement with Standard Chartered Bank (SCB) enables Nordea to offer corporate customers a full range of cash management services across Asia.
"There is a need for local banking services in many other Asian countries," says Petri Sandell, branch manager at Nordea's sole Asian outpost in Singapore.