Standard Chartered, Reckitt's sign agreement

Standard Chartered Bangladesh recently signed an agreement with Reckitt Benckiser (Bangladesh) PLC to provide the organisation with host-to-host connectivity.

This integration will streamline the collection of sales proceeds by facilitating the transfer of data between the bank and Reckitt, said a press release.

Connecting Reckitt's Enterprise Resource Planning (ERP) platform to Standard Chartered's Straight2Bank offering, will provide Reckitt with the ability and flexibility to exchange information and receive necessary notifications in accordance with their preferred file formats, network protocols, and standards. By helping clients to take their banking needs online, Standard Chartered is increasing operational efficiency across sectors, boosting corporate transparency, and ensuring greater accuracy.

Luthful Arefin Khan, head of Transaction Banking, Standard Chartered Bangladesh, said, "At Standard Chartered, we are dedicated to understanding our clients and their specific business needs, and are eager to provide them with the best possible solution. By adopting state-of-the-art technology and digital tools we are helping to make our valued clients nimbler and future fit."

Tanmay Gupta, finance director, Reckitt Benckiser Bangladesh PLC, said, "Automation is one of the key strategies for Reckitt. Hence, we are always open to embrace new technology that helps to achieve operational efficiency and improve data security. Recently executed Host-2-Host connectivity will certainly streamline our collection process."

According to the media release, with over 118 years of uninterrupted presence in the nation, Standard Chartered Bangladesh is the only multinational universal bank in Bangladesh. As the nation's longstanding partner in progress, Standard Chartered is facilitating major investments in power, energy, transportation, and development. The bank accounts for a major share of all export and import financing, as well as power generation financing and SME lending by foreign banks. At the same time, the Bank commands a leading position in the retail finance space.

Reckitt Benckiser (Bangladesh) PLC is a subsidiary of Reckitt Benckiser Group PLC. Reckitt Benckiser Group PLC is engaged in the consumer health and hygiene business.