Home ›› 23 Mar 2023 ›› News
Standard Chartered Bangladesh recently signed a deal with Mediterranean Shipping Company Bangladesh Limited (MSC) to provide it with Host-to-Host (H2H) connectivity for automating and simplifying file mapping and creation.
This solution directly links MSC’s Enterprise Resource Planning (ERP) platform and Standard Chartered’s Straight2Bank (S2B) service, enabling MSC to process local payments with ease, according to a press release.
An event was held to inaugurate the newly designed digital solution. Standard Chartered’s Country Head (Bangladesh) of Transaction Banking, Luthful Arefin Khan and Head of Client Coverage (Chattogram), Shamim Iqbal, and on behalf of Mediterranean Shipping Company Bangladesh Ltd, CFO ATM Anisul Millat along with General Manager (Finance & Accounts), Rashed Karim and other officials were present.
The Bank’s tailormade solution upgrades MSC’s payments and collections interface and also addresses its broader objective to introduce and implement cash management facilities which focus on technology innovation, process consolidation and faster turnaround time as a catalyst for better client experience.
The Bank's attempt to develop such a solution is a first for the country's shipping sector, setting the bar for digital transformation and long-term viability.
Luthful Arefin Khan said, “By re-engineering end-to-end cash management process and adopting best-in-class practices at each step, the bank is able to offer comprehensive solutions for all our clients. It has been offering H2H connectivity in Bangladesh for over a decade.
“Now, in 2023, over 80 clients nationwide are currently enjoying the benefits of process efficiencies, risk mitigation, reduced manual intervention, and greater transparency. We are proud to partner with MSC and look forward to growing our relationship”, he added.
