Standard Chartered and KI group are to collaborate to explore and develop solutions that will support the growing needs of B2B marketplaces among corporate clients.

The parties say that the tie-up combines their complementary strengths. Namely, Standard Chartered’s expertise in innovative banking services and extensive market presence. And KI group’s strong track record and network in e-commerce platforms and marketplaces. Both parties will tap into each other’s experience and capabilities in developing B2B marketplace solutions for their clients. They will also screen and potentially bring in other providers to offer a complete suite of marketplace infrastructure solutions.

Untapped growth in B2B marketplaces

The majority of leading B2B companies now offer e-commerce capabilities, the pandemic being a major driver of this change. But according to StanChart, proper growth and acceleration in this space is still largely untapped. Some 67% of B2B buyer journey take place in digital channels. But 66% of these buyers are dissatisfied with their online purchasing experience.

Steffen Braun, CEO KI group, said: “KI group has built a solid reputation. It is assisting leading corporations in Europe, the Middle East, and Africa in establishing and implementing effective B2B marketplaces. Our successful collaboration with Standard Chartered on a recent online B2B marketplace showcases the value of our combined efforts. By joining forces, we can offer a unique end-to-end solution. This ensures our clients’ digital sales solutions are future-proof, encompassing all aspects, including financial services. Current and future clients can trust that their digital sales and financial strategies are evolving with the same level of innovation and attention to detail as the rest of their business.”

Standard Chartered. KI group: building on their existing relationship

“We are excited to further our B2B marketplace ambition through this MoU with KI group,” said Philip Panaino, Global Head of Cash Management, Standard Chartered. It builds on our existing working relationship in the development of an online B2B marketplace for used commercial vehicles.”

“Global trade increasingly takes place online. Such partnerships with best-in-class providers allow us to offer our clients a holistic solution that goes beyond banking to build a successful online marketplace. Not only will this enhance our corporate clients’ ability to participate more actively in today’s fast-changing economy. It will also help expand their reach to even more customers around the world.”