Crown Agents Bank, Joins Rapidly Growing Community on CCRManager
Published // 27th April 2018
Joint Media Release
UK-based Crown Agents Bank (CAB) has become the latest bank to join the fast-growing community of financial institutions on CCRManager, a fintech platform supporting global trade and supply chain finance distribution. Having recently launched its own proprietary foreign exchange (FX) trading platform, EMpowerFX, this new partnership signifies the next milestone in CAB’s digital innovation strategy, as it further cements its position as a key strategic banking partner for clients in emerging markets and the OECD organisations that wish to trade with them.
The fintech firm backed by the Monetary Authority of Singapore, CCRManager was launched in early 2017 and has already been joined by over 20 global financial institutions across 15 countries. CCRManager provides a web-based platform that allows banks to list trade finance assets for distribution, negotiate deals, and manage documentation. As a result, banks can optimize their trade finance portfolios at a reduced infrastructure cost, while opening new avenues for incremental business that would otherwise be left undone.
“By making the secondary market more accessible, CCRManager’s platform will allow us to further boost our trade finance offering, particularly for smaller emerging markets where we have already been playing a critical role in facilitating trade flows,” says Duarte Pedreira, Head of Trade Finance at CAB. “Further, we can use our focused coverage and unrivalled insight of these markets to put attractive opportunities on the radar of other banks operating in the secondary market. We have a deep appreciation for the benefits that CCRManager will bring to the global financial infrastructure and we look forward to being joined by many more like-minded institutions.”
Man Ka Kit, Chief Executive Officer and Co-Founder of CCRManager, adds: “It is exciting that a bank with such a storied history, and track-record in emerging market trade, has joined the CCRManager community. We have been encouraged by the rapid growth in the number of our member institutions since our launch and are on track to accelerate this rate of growth even further. Our team has been prototyping new features and functions with the continued support of our community and we look forward to making these public very soon, so watch this space!”
Crown Agents Bank (CAB) is a London-based, UK-regulated wholesale transaction bank provider of emerging market and G10 foreign exchange, international payments, cash management, cross-border pensions and payroll, trade finance and investment management services (via its sister company, Crown Agents Investment Management (CAIM)).
Originally established by the British Crown, the group can trace its roots back to 1749, and has provided banking services from its London base since 1833.
CCRManager invests in and operates technology platforms and financial solutions for the global trade and working capital industry. Through the development of an innovative platform, CCRManager supports secondary market activities of banks, insurers, development organisations, and funds.
CCRManager is helmed by a group of seasoned banking and technology professionals with a shared passion for continuous product innovation and value creation for financial institutions.
CCRManager is a wholly owned subsidiary of Tin Hill Capital Pte Ltd, and is supported by the Monetary Authority of Singapore through the Financial Sector Development Fund.