Manama: Standard Chartered, a market leader in electronic payments in Bahrain, takes yet another step towards digitization by launching Round the Clock Remote Corporate Cheque Printing facility for its clients across the Kingdom. This is considered the first of its kind service in Bahrain where clients now have the ability to print at their own premises.
Through the Bank’s internet based global delivery channel Straight2Bank (S2B), clients now have the space and time to print their own cheques at their own premises. While existing options in the market today involve manual processes and authorization which is prone to error and risk, Standard Chartered Bank’s solution is entirely automated with inbuilt security, controls and audit trail features. Through this solution, users have an added advantage in their treasury operations by enhancing control and bringing further efficiencies to their disbursement processes through the central management in the head office via Straight2Bank; while reducing the turnaround time for delivery of payment to beneficiaries by printing these cheques directly in their own premises in remote or out of town locations across the country.
“Offering this service to our clients is demonstration of our continuous efforts to offer innovative products to the business needs of our clients and their operational requirements. I am confident this service will support our clients’ drive for more operational efficiency and control over their cheque disbursement activities. We are delighted to be the first transaction bank to offer round the clock client on-site cheque printing solution in the kingdom,” Yasser Tahboub, Head of Transaction Banking at Standard Chartered Bahrain, said.
“Standard Chartered has helped us leverage technology by using Straight2Bank to Consolidate cash management and streamline supplier and payroll payments in UAE and Bahrain. The transition from manual to electronic payments has helped Apparel Group become more efficient with straight – through processing and centralized audit control,” Neeraj Teckchandani, CFO, Apparel group (of which Bahrain Apparel is part of) said.
As part of the Bank’s commitment to put its clients’ needs upfront, the Remote Cheque printing service is available round the clock. Clients can now continue to make cheque disbursements after banking hours.