The FINANCIAL — Barclays has launched a Network Guarantee issuance service which allows financial institution (FI) clients to issue Guarantees to beneficiaries in any Barclays footprint country, through its one-stop issuance hub located in the UK.
Network Guarantees provide a seamless end-to-end issuance service providing FI clients with access to the entire Barclays network in the UK, Europe, UAE, India, Pakistan and the bank’s comprehensive African network.
The issuance process offers FI clients the benefit of a single point of entry to the Barclays Group where the Guarantee is prepared and then sent on to the Barclays office in the country where the beneficiary is located for issuance. As Barclays reported, this ‘local’ service model provides FI clients with a single point of contact at a Barclays office located either in their country or a country in the same time zone.
Shona Tatchell, Head of FI Trade at Barclays comments: “Network Guarantees give our customers an end-to-end solution with a predictable cost. Customers are able to benefit from our centrally co-ordinated process, and our local market knowledge and expertise. This is particularly evident in Africa where our local footprint helps our FI customers to deliver for their corporate customers as they look to do business in the region.”
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