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DateLine Tuesday, 5 August 2008

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[Business Banking]

Standard Chartered launches connectivity solution

As organisations continue to leverage their investments in Enterprise Resource Planning (ERP) systems, treasurers today are looking at not just reconciling items or automating account payables but optimising their working capital cycle and streamlining their financial supply chain.

Current processes of communication and reconciliation with banks e.g. via bank statements, are inefficient; account statements received to and from banks are reconciled with ERP systems, typically through a batch process, either manually or through some complex programs.

Analysts estimate that such streamlining and automation efforts can reduce the working capital cycle by 25 per cent.

Standard Chartered, working together with SAP, introduces a sophisticated connectivity solution to its clients’ ERP on Straight2Bank. This corporate connectivity solution promises to reduce working capital cycles and integrate the physical and financial supply chain, thereby reducing costs and improving Operational efficiency.

Straight2Bank integrates the payment system with Standard Chartered Bank’s clients ERP system, automating the reconciliation as payment orders are created, providing greater productivity and transparency.

Organisations are able to get an instant picture of their cash flow position and users can query on any payment or receivables transaction and obtain its status instantly.

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NTB opens Kurunegala personal banking centre



A Nations Trust Bank customer using the automated multi channel services.

Nations Trust Bank recently open their fourth personal banking centre, located at the Keells Super outlet in Kurunegala.

The Bank’s personal banking centre (PBC) offers 365 day banking facilities through its ATM, which permits cash deposits that are recognised in real time, which means that the money that is deposited will be credited to the relevant account instantly.

In addition to this the PBC also facilitates cash deposits, payments for the American Express card, a cheque drop box to make payments and deposits via cheques as well as a host of benefits through this automated service.

Each PBC will also have key service personnel for any assistance or inquiries.

Customers may also use the PBC to open savings and fixed deposit accounts as well as having free access to the Bank’s internet banking services. Nations Trust Bank PLC was the first to introduce 365 day banking as well as the concept of mini branches.

Chief Executive Officer Nations Trust Bank PLC Zulfiqar Zavahir said, “We are pleased to offer the convenience of personal banking centres through the Keells Super chain of supermarkets. Given our commitments towards simplifying the lives of our customers, we are confident that these conveniently located centres will provide banking services at a time and location that is most suitable to our customers.”

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