Stanbic Bank Launches a Digitalized Platform To Simplify Trade

Stanbic Bank. (FILE PHOTO)
Stanbic Bank Uganda has launched an end-to-end digitalized trading platform dubbed “Quantum Trade” to enable customers access Import Letters of Credit and Domestic guarantees quickly. The online platform will facilitate trade and allow customers receive products in a quick and timely manner.
With the ongoing Covid-19 pandemic, face-to-face interactions have been reduced and international travel restricted. Trade must however must go on, and hence the need introduce and use digital solutions such as Quantum Trade where everything from applications to issuance is fully digitalized, enhancing speed and transparency.
“We have designed the Quantum Trade platform to cater for two pathways taking account of differences in frequency of usage by clients. The platform is encouraged for clients with frequent or high volume of Import Letters of Credit and or Domestic Guarantee requirements. However, an alternative path exists for clients with occasional need for LCs and/or Guarantees, which doesn’t require the full onboarding process, and termed a walk-in path,” Mr. Tunde Thorpe, Head of Transactional Products and Service at Stanbic Bank.

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