Standard Chartered Bangladesh and Transcom Beverages Limited (TBL) recently launched the first ever digital collection solution with real-time reconciliation via Application Programming Interface (API) integration for the Fast-Moving Consumer Goods (FMCG) industry.
This newly implemented digital platform will enable manufacturers to conveniently collect and reconcile funds from distributors with ease. The solution will also ensure ashorter turnaround timefor distributors.
By leveraging the Bank’s Virtual Account for Collection solution with API connectivity, TBL can now accessdetailed information about payments made by their distributors and use thisdata to automatically complete the reconciliation process.
Transcom Beverages Limited signed the Memorandum of Understanding (MoU) with Standard Chartered Bangladesh at the Bank’s Head Office.
Luthful Arefin Khan, Head of Transaction Banking, Standard Chartered Bangladesh and Mohammed Ismail, Chief Financial Officer, Transcom Beverages Limited signed the document on behalf of their companies.
Enamul Huque, Managing Director, Standard Chartered Bangladesh, Kamrul Hassan, Group CFO, Transcom Group were also present on the occasion.
