Staff Correspondent: Standard Chartered Bangladesh has established a host-to-host (H2H) integration solution for Suguna Food and Feeds Bangladesh Private Limited (Suguna), one of the largest multinational feed companies operating in the poultry industry of Bangladesh.
Standard Chartered Bank was the first to introduce the concept of host-to-host integration in cash management for businesses in different sectors in Bangladesh, and now have also introduced this service for the poultry segment, said a press release.
This connectivity will enable Suguna to process domestic payments from their Enterprise Resource Planning (ERP) system. Suguna will also have access to all required MIS reports in its ERP system.
The reports will be sourced directly from Standard Chartered’s digital banking channel, Straight2Bank (S2B). The H2H ERP connectivity will be routed through the Bank’s unique Universal Adaptor solution.
The Universal Adaptor solution enables Suguna to define their own file templates or use pre-defined ones, and send transaction messages to the Bank through Straight2Bank Access and Straight2Bank Web channels.
An event was held on the premises of Suguna Food and Feeds Bangladesh Private Limited to inaugurate the H2H ERP connectivity.
LuthfulArefin Khan, Country Head of Transaction Banking, Standard Chartered Bangladesh; SoundararajanBangarusamy, Chairman, Suguna Foods &Suguna Holdings; and others from both organisations were in attendance.
SoundararajanBangarusamy, Chairman, Suguna Foods and Suguna Holdings said, “This integration is a reflection of Standard Chartered Bank’s continued long-term commitment to support all our banking needs. The solution will improve our payment processing and reconciliation time. We are impressed with the Bank’s Plug-and-Play H2H integration solution through Universal Adaptor, which significantly reduced the implementation resource, time, and effort required to complete this integration – resulting in minimum disruptions to our day-to-day treasury management.”
LuthfulArefin Khan, Country Head of Transaction Banking, Standard Chartered Bangladesh said “Our H2H solution with Universal Adaptor access is a unique offering for our clients as it provides significant operational and financial efficiencies to businesses through near real-time automation capabilities. Standard Chartered has been offering the H2H solution in Bangladesh for over a decade, and over 80 clients nationwide are currently enjoying the benefits of the Bank’s H2H solution.” He added, “We are proud to partner with Suguna and look forward to growing our relationship.”
Having an uninterrupted presence of over 117 years in Bangladesh, Standard Chartered is the only multinational universal bank in the nation.
It was named Best Cash Management Service Provider Bank in Bangladesh by The Asset Triple A Awards in 2021. Standard Chartered Bank offers a wide range of online capabilities with state-of-the-art products and tailormade solutions to support the cash management needs of clients through its award-winning digital platform Straight2Bank.
Straight2Bank can be fully integrated with a client’s ERP using the bank’s global standard H2H, Swiftnet, or API capabilities.
Suguna Food and Feeds Private Limited is one of the largest multinational feed companies operating within Bangladesh’s poultry industry.
It is primarily involved in poultry feed production and marketing. Suguna Food and Feeds Private Limited also contributes to chick sales and the production of cattle and aqua feed. It has been operational in Bangladesh since 2011.
Despite 40pc short of collection Mahfuja Mukul: According to the Ministry of Finance and t…