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Standard Chartered partners with IDLC to enable digital deposit collection

Standard Chartered partners with IDLC to enable digital deposit collection

Standard Chartered Bangladesh has recently inked an agreement with IDLC Finance Limited (IDLC) to act as banking partner for its online digital deposit collection.

IDLC Finance has recently launched an Online Digital Deposit Service to encourage customers to meet their deposit needs without visiting branches physically. This service will serve as a single gateway with multiple payment options to collect the deposits from IDLC’s valued depositors, and the real time API integration will allow instant transfer of deposit information.

Standard Chartered provided IDLC Finance with its state-of-art solution called ‘Straight2Bank Pay’. Leveraging on Standard Chartered’s ‘Straight2Bank Pay’ with API integration, IDLC Finance will be able to deliver a seamless experience to its valued depositors so that depositors can open fixed deposit accounts anywhere anytime and make payment using multiple payment options at their convenience.

Jamal Uddin, CEO & Managing Director, IDLC Finance said, “We are delighted to have Standard Chartered Bank as a payment gateway and banking partner for our Online Deposit product. The ‘Straight2Bank Pay’ service will provide our valued customers with a convenient, reliable and cost-effective option for their deposit payments.”

Alamgir Morshed, Managing Director & Head, Financial Institutions, Standard Chartered Bangladesh said, “Standard Chartered has been the forerunner of banking innovation in Bangladesh starting from first ever credit card launch to first letter of credit issuance and in continuation, our solutions like ‘Straight2Bank Pay with API integration’ will enable todays corporates and financial institutions with capability to digitize its collection process for both online and offline channels. We are proud to partner with IDLC Finance Limited, an early adopter of innovation in the Financial Institutions segment, to bring in digitization and efficiency in their deposit mobilization process”.

‘Straight2Bank Pay’ is Standard Chartered’s one-stop global platform to provide customers with different digital payment options covering both their online and offline collections. Straight2Bank Pay is integrated at the point of payment checkout and it aggregates multiple payment options including bank transfer using Virtual Account, cards, net banking and mobile wallets. Straight2Bank Pay uses online checkout, QR code and payment link capabilities to cover various clients’ use cases like collections via online store, mobile app, physical stores, remote collections, payment on delivery and bill payment.

Standard Chartered offers a wide range of online capabilities with state of the art products, and tailor made solutions to support client’s cash management needs through its award winning digital platform Straight2Bank which, can be fully integrated with the clients’ ERP using global standard H2H, SWIFTNet or API capabilities.

To know more about Straight2Bank Pay please visit sc.com/straight2bankpay

– Press release