Standard Chartered Bank and Ducab Celebrate a Successful Implementation of Straight2bank Solution
Standard Chartered Bank and Ducab, the UAE-based leading manufacturer of high-quality cables and cabling products, owned by government related entities of Abu Dhabi and Dubai recently celebrated the application of a fully integrated payments solution,
After commencing its roll-out back in 2016, the bank's Straight2bank option was planned to give Ducab economic, calculated and functional efficiencies. Not just did the remedy standardise interactions, however it also made certain total automation of workflows in between the business source preparation (ERP) component and the Bank systems - providing far better presence to Ducab accounts throughout all locations.
" We are very proud to have been chosen as one of Ducab's main collections and settlements bank. By promoting automated reconciliation, the Bank can provide smooth and reliable vendor payments capacity and complete control on the customer receivables". said Motasim Iqbal, Head of Deal Banking at Standard Chartered Bank, UAE
During a commemorative occasion at Ducab's head office, Julian Wynter, Chief Executive Officer, Requirement Chartered Bank, UAE said: "Supplying this solution to Ducab declares the Bank's dedication to the UAE's digital agenda, and enables us to proceed playing a key function in supporting the UAE's nationwide method which aims to earn the UAE the most innovative country on the planet by 2021."
Together, Ducab and the Bank have been able to supply an innovative and comprehensive, however highly secure, system that has actually given a remedy to the customer's current and future needs.
"Today Ducab is buying tools that help with a smooth and protected getting experience for our customers. In addition, as the company expands, we will continue to concentrate on supplying worth to all our partners, and that includes structure monetary frameworks that make it also simpler to do business with Ducab. We are happy to partner with Typical Chartered that have absolutely recognized our vision and business needs," said Andrew Shaw, Managing Director, Ducab.
On the temporary, the application of the option has caused better efficiency at a decreased price. On the longer term, it led to far better risk management, greater safety and business continuity. The distribution is accelerated by applying a robust project administration framework which enhanced the total shipment experience.
In April 2017, Requirement Chartered Bank authorized a partnership agreement with an additional leading UAE-based business support supplier, Transguard Group, which allowed the Bank to offer its corporate clients a smarter and more convenient cash remedy, by incorporating 'smart' cash money deposit devices with Transguard's cash in transportation (CIT) solutions.
The bank's ecosystem initiative assisted corporates fund both their distributors and purchasers on the strength of the general supply chain. Through Vendor Prepay, the clients can fund their chosen distributors at exceptionally affordable prices with very little paperwork required from the vendors and by means of an automated solution.
