Standard Chartered Bangladesh and LankaBangla Securities Limited (LBSL) have launched the nation’s first ever digital collection solution for clients with real time reconciliation through Application Programming Interface (API) integration.
This newly introduced digital platform will enable capital market investors to transfer funds to their Beneficiary Owners (BO) Account with ease and will provide users with the ability to seamlessly purchase and sell stocks on both the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE).
By leveraging the Bank’s Virtual Account for Collection solution with API connectivity, LBSL can now acquire detailed information about their clients against their chosen payment method, and use said data to complete the reconciliation process automatically and immediately.
Enamul Haque, Managing Director and Head of Client Coverage, CCIB, Standard Chartered Bangladesh, said, “Embracing digitalisation in the brokerage industry will catalyse capital market growth in Bangladesh by simplifying stock trading and by saving investor’s valuable time. Solutions like Virtual Accounts combined with API enable the digitalisation of collection solutions with automatic real-time reconciliation for brokerage houses, financial institutions, and corporate.”
KhandokerSaffat Reza, CEO and Director, LBSL, said, “As a pioneer in capital market intermediaries, LBSL has always been anearly adopter of different innovative and value-added technologies and services to provide the best service to valued clients for a smooth investment experience."
