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StanChart launches Bangladesh’s first digital trade counters

  • Staff Correspondent
  • 25 November, 2021 12:00 AM
  • Print news
StanChart launches Bangladesh’s first digital trade counters

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Standard Chartered Bangladesh (SCB) has launched the country’s first digital trade counter allowing customers to submit transaction applications and related documents online.

Through this solution, corporate clients can access a paperless, simpler, smarter application and management flow with highly secured data privacy, the UK-based lender said in a news release on Wednesday.

Regarding the service, SCB chief executive officer Naser Ezaz Bijoy said the digitising trade is a critical lever to accelerate economic development and improve productivity. “In our mission to pioneer a frictionless banking experience, we have introduced yet another digital tool, the digital trade counter. Clients will benefit from the seamless application process that the system will enable,” he said.

The first client to use the digital trade counter is Univogue Garments.

Univogue Garments chief financial officer Gamini De Silva said the company applied for issuance of two Shipping Guarantees on digital trade counter of Standard Chartered.

“It was an exciting experience. The interface is very user friendly and easy to use. We were able to upload the needed documents and apply within minutes, saving much time that is otherwise needed to fill up an application form,” he said.

The clients can upload their instructions to Bank through this counter from anywhere in the world. The data on the hard copy forms uploaded on this counter, automatically flows into the Bank’s system and gets registered.

There is no ‘waiting time’ for registering of the transaction. This is an interactive platform, that also informs the clients if any additional documents or information is required to complete the transaction and the clients can then respond to the Bank through this same channel.