(MENAFN- The Peninsula) Standard Chartered Bank Qatar has been awarded the cash management mandate by Al Shaheen Weatherford.
The solution entails automation of Al Shaheen Weatherford's payments and collections. Standard Chartered will be processing the cash management through electronic banking via the bank's "Straight2Bank" online banking platform.
The Straight2Bank platform is enhanced to meet the needs of the bank's clients, presenting a convenient, branchless access channel to cash management, trade, securities services and reporting. The platform improves operating efficiency for clients by enabling them to manage their cash and trade portfolios with the Bank electronically and instantaneously.
At a signing ceremony held to mark the occasion, Salman Sharif, Head of Transaction Banking, Standard Chartered Bank Qatar, said: "Straight2Bank provides a dynamic platform with state of the art solutions for our clients by offering operational efficiency, reduced risk, lowered cost and improved transparency".
Salman added: "We are constantly striving on building long term partnerships with our clients by offering banking solutions that add value to their business. We believe that this solution will further streamline Al Shaheen Weatherford's business operations through efficient and secure cash management. There is growing client demand for similar solutions across our key markets and we are confident that this platform will serve to reaffirm our commitment to all our clients in line with their needs and aspirations."
Commenting on the agreement, Ehab Elsayed Financial Manager at Al Shaheen Weatherford, said: "Given the enhanced security and increased efficiency in processes, we are delighted with the solution and value addition provided. The implementation was smooth and timely and has served to improve the experience for us overall".
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