Business Desk :
Standard Chartered Bangladesh (SCB) has recently inked an agreement with Lanka Bangla Securities Limited (LBSL) to automate LBSL’s collection from investors and subsequent reconciliation process.
LBSL was looking for an end to end solution to digitize its collection from investors as well as receiving prompt notification of the collection, said a press release.
Further, it wanted to have the report fed into its Enterprise Resource Planning (ERP) system without manual intervention to automate the reconciliation process, reducing operational risk and increasing data security.
Standard Chartered provided LBSL with Virtual Account for Collection solution whereby each investor is provided with a unique virtual account to make their payment to LBSL seamlessly from their respective banks online portal using any of the available digital channels e.g. BEFTN, RTGS, IBFT (NPSB) etc.
