The latest service, according to the BBK CEO Abdulkarim Bucheery, will totally revolutionise the concept of cash management through efficiency, competitiveness and confidentiality.
“The bank had been working on this new concept since 2006 and had invested substantial money as part of the bank’s long-term strategy,” he told the Press conference.
The Press conference was also attended by Shaikh Rashid Al Khalifa, GM Buisnesses Gulf, Riyadh Sater, GM Shared Services Group and Rashid Akbari AGM, Transactional Banking.
Bucheery said that the initiative would bring the customers closer to automation, ensures safety and security in system and on the top it efficiency.
BBKCashlink is an internet-based Cash Management Platform which enables BBK’s commercial and institutional clients to initiate multiple types of payments and view all of their account-related information from their offices.
This multi-product payments and cash management system is BBK’s solution for clients who want to better manage their cash flow through being able to initiate “just-in-time” payments and to accelerate their receivables from locations all over the world.
The design of BBKCashlink has been in-line with industry best practice and incorporates straight-through-processing which brings new levels of operational efficiency, improved accuracy and faster payment turnaround times. To ensure the integrity of client payment data the platform uses the highest possible security standards, including 128bit SSL encryption and dual-factor authentication.
Since its soft launch in August 2010 BBKCashlink has already won two major awards, the “Bahrain e-Content Award 2011” and the “Middle East e-Government Excellence Award 2011” for electronic banking services.
“BBK continues to invest heavily in processes and technology, and with BBKCashlink we have a state-of-the-art electronic platform capable of providing our customers with a comprehensive range of Cash Management services.
BBKCashlink enables our clients to realize significant efficiency gains within their organizations and as a result of our careful analysis of customer needs it also offers an enhanced user experience,” Bucheery, said.
“We offer a tailored implementation plan for every BBKCashlink client. We have a team of Cash Management experts who work closely with each customer to develop a customer-specific implementation plan. All BBKCashlink implementations follow a structured process which includes requirements gathering, proposal submission, product walk-through, piloting of the programme and finally full implementation. This process works very well and we are keen to talk to all businesses in Bahrain who would like to transform their Cash Management operations and take those to a higher level,” Shaikh Rashed Al-Khalifa, said.
Bucheery confirmed how BBKCashlink has been well received in the market by large corporate customers, SMEs as well as other financial institutions such as Bapco, EDB, Bahrain Bourse and Bahrain Chamber for Dispute Resolution among others that have already signed in for this new service.