Standard Chartered wins award for cash management

Standard Chartered Bank recently claimed the title of “Best Overall Bank for Cash Management” at the Global Finance Treasury and Cash Management Awards 2023.

The bank received the honour for designing and implementing a variety of specialised, reliable, and scalable cash manage-ment solutions and services for clients nationwide, said a press release on Monday.

The bank’s expansive range of cash management solutions is centred around principles of technology innovation, process consolidation, convenience, and efficiency. Standard Chartered’s digital banking solution – Straight2Bank (S2B) enables clients to process payments with ease and provides real-time reconciliation reports with transaction details.

At present, over 80 clients have established a Host-to-Host (H2H) connectivity with the bank by linking their Enterprise Re-source Planning (ERP) platform to S2B. The bank’s virtual account solution streamlines both payments and collections pro-cesses to ensure greater transparency and control. As the industry leader, Standard Chartered Bangladesh is utilising digital-isation to transform conventional banking procedures.

Luthful Arefin Khan, head of Transaction Banking at Standard Charted Bangladesh, said, “As the cash management land-scape changes and continues to move towards digital, we remain committed to creating more comprehensive solutions and engineering better client experiences. We are proud to be recognised by Global Finance for our efforts and are grateful to our clients, regulators, and stakeholders for their unwavering trust and support.”

With over 118 years of uninterrupted presence in the nation, Standard Chartered Bangladesh is the only multinational uni-versal bank in the country. The Bank’s commitment to service excellence – to ensure efficiency and accuracy across all daily cash, trade, and working capital operations – continues to be a driving force.

Currently, Standard Chartered brings a wide range of digital offerings, state-of-the-art products, and bespoke solutions to the table to support clients and their evolving cash management needs.

Founded in 1987, Global Finance has readers in 193 countries. As part of the Treasury and Cash Management Awards 2023, Global Finance used a multi-tiered assessment process to select the best providers of treasury and cash management ser-vices.