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IN STANDARD CHARTERED BANK BANGLADESH
A Descriptive Analysis
Table of Contents
1.1 1.2 1.3 1.4
ORIGIN OF THE REPORT SCOPE METHODOLOGY & SOURCE OF INFORMATION
BANKING INDUSTRY –OVERVIEW
STANDARD CHARTERED BANK
2.1 2.2 2.3 2.4 2.5 ETHICS OF STANDARD CHARTERED BANK STANDARD CHARTERED BANK IN BANGLADESH PERFORMANCE AND GROWTH
ACTIVITIES OF STANDARD CHARTERED BANK
SWOT ANALYSIS OF STANDARD CHARTERED BANK
CLIENT RELATIONSHIPS PRODUCTS
3.1 3.2 3.3 3.4
TRANSACTION BANKING TRADE SERVICE CUSTODY
A DESCRIPTIVE ANALYSIS OF TRANSACTION BANKING
4.1 INTRODUCTION 4.2 CASH MANAGEMENT SERVICES
4.3 ACCOUNTS SERVICES 4.4 E-BANKING 4.5 NATIONAL COLLECTION SERVICES-NCS 4.6 OPSPAY 4.7 PREMIUM SERVICE-BANKING 4.8 PAYMENTS PLUS 4.9 TRADE REPORTS 4.10 WEB BANK 4.11 CHEQWRITER 4.12 BILLSPAY 4.13 CONCLUSION & RECOMMENDATION 4.15 BIBILIOGRAPHY
At the very outset, I would like to take this opportunity to express my gratitude to my internship supervisor, Mirza Aminur Rahman for his continuous inspiration, supervision and patience. Without his guidance and support it would not have been possible to come this far.
I would also like to thank Nasreen Rehman for her continuous support, inspiration and giving me the opportunity to deal with different corporate clients.
The managers of various companies have extended their kind cooperation by sharing information much needed for this report - for this I am ever grateful.
My sincerest thanks go to the others who were involved and helped directly and indirectly in preparing this report as well as Faculties of Business Studies University of Dhaka for all the support as well as giving me the opportunity to prepare this report as a part of my BBA program.
anking service in Bangladesh is characterized as a highly competitive and highly regulated sector. With a good number of banks already in operation and a few more in
the pipeline, the market is becoming increasingly competitive by the day.
With the global slowdown in the face of rising competition, the commercial banks are constantly looking for ways to develop their market and product offers to remain ahead of others. A significant amount of regulation by Bangladesh Bank prevents the scope of introducing newer products into the market and thereby restricts a banks’ ability to outperform others with a diversified product range.
However, recent trends have shown banks shifting away from vanilla products (basic products) towards higher value added products that are highly structured, to meet the needs of the clients.
Standard Chartered Bank is the oldest multinational bank operating in Bangladesh. It has, over the years, created one of the largest networks among all the foreign banks in Bangladesh. Although a trendsetter in offering a various range of products in the market, the product offers of Standard Chartered Bank are quickly imitated by competitors. Substitutes offered by other commercial banks make their way into the market and thereby eat a portion of the margin.
This report takes a look at the current product offer of the Transaction Banking at Standard Chartered Bank alongside with a look at the untapped opportunities that lie ahead for the bank to take advantage of Know Your Customer (KYC) project.
An earnest attempt has been made to analyze the Transaction Banking products that drive competitor banks.
private and other foreign commercial banks has helped to generate ideas regarding the areas that Standard Chartered itself can explore into. this report looks in depth towards the opportunity for Transaction Banking. Based on above. Having established itself as the leading foreign commercial bank in Bangladesh is not by itself sufficient unless a hearty attempt is made to sustain this position.An idea of the current portfolio structure of nationalized. Amidst an age of regulation and intense competition. . diversification of the corporate products in a way that helps to increase the wallet share of the bank and thereby achieve growth is undoubtedly very desirable.
The primary goal of internship is to provide an on the job exposure to the student and an opportunity for translation of theoretical conceptions in real life situation. and performances. 1.PART-1 INTRODUCTION 1.2 Scope: The scope of this report is limited to the overall descriptions of the bank. its position in the industry. The scope is also defined by the organizational set-up. . by policy: 3 months. University of Dhaka. Md. 2005. the head Transaction Banking of Standard Chartered Bank Bangladesh. functions. Bangladesh for the internship program under the guidance of my faculty advisor A. which would include an overview of the organization I was attached with and elaboration of the project I was supposed to conduct during the internship period. Students are placed in enterprises.1 Origin of the Paper This report is an Internship Report prepared as a requirement for the completion of the BBA Program of the Department of Finance & Banking. Humayun Morshed. and its competitive advantage. I. As a requirement for the completion of the program I needed to submit this report. After the completion of BBA program. I was placed in the Transaction Banking of the Bank. organizations. The duration of my organizational attachment was. research institutions as well as development projects. starting from May 25. The program covers a period of 3 months of organizational attachment. its services. 2005 to July 25. was placed in Standard Chartered Bank. under the direct supervision of Mirza Aminur Rahmah.M. Mohin Uddinof BBA 6th Batch.G.
Alike all other banking institutions. 1. brochures. My supervisors are busy all the time and it was really difficult to get hold of some of their time. web sites and previous internship report. Primary Source of Information Discussion with officials of SCB Face to face and telephone conversations with customers Data from the company’s documents and SCB’s computerized information system Secondary Sources of Data Previous reports and journals relevant to the banking industry Other published documents of Bangladesh Bank Relevant SCB paper and published documents 1. Time constraint was another limitation restricting this report to be a more detailed and analytical one. I have relied upon certain assumptions. which are only amateur estimates. As a result. journals. As many of the analysis on the obtained data are based on my sole interpretation. there may be some biases. All the information incorporated in this report has been collected both from the primary sources and as well as from the secondary sources. as lack of knowledge and depth of understanding might have hindered my ability to produce an absolutely authentic and meaningful report.5 Banking Industry-Overview The Banking Industry is Bangladesh is one characterized by strict regulations and monitoring from the central governing body.1. The chief concern is that currently there are far too many banks for the market to sustain. much information has been collected from different published articles. In such cases.3 Methodology & Source of Information In the organization part. the . SCB is also very conservative and strict in providing financial information. the Bangladesh Bank.4 Limitations: Past and present financial information that are confidential could not be accurately obtained.
market will only accommodate only those banks that can transpire as the most competitive and profitable ones in the future. there are four nationalized commercial banks (NCB). Currently. S cheduled Banks in Bangladesh PCB 54% FCB 20% NCB 8% Islamic 8% Spe cializ ed 10% Figure: 1 All local banks must maintain a 4% Cash Reserve Requirement (CRR). which is noninterest bearing and a 16% Secondary Liquidity Requirement (SLR). 11 foreign banks. the major financial institutions under the banking system include: Bangladesh Bank Commercial Banks Islamic Banks Leasing Companies Finance Companies Of these. Competing through differentiation is increasingly difficult and other banks quickly duplicate any innovative banking service. With the liberalization of markets. . competition among the banking products and financial services seems to be growing more intense each day. 26 domestic private banks and 4 Islamic Banks currently operating in Bangladesh. the banking products offered in Bangladesh are fairly homogeneous in nature due to the tight regulations imposed by the central bank. In addition. 5 specialized banks.
the Standard Chartered Bank took up a program of expansion. technology and premises as its business grew in relation to the country's economy.2 Standard Chartered Bank in Bangladesh The Chartered Bank started operating in Bangladesh in 1948. After the merger of the Chartered Bank with the Standard Bank in 1969. 2. Complying with each element of the Code will not always be easy but we recognise that we will be judged not just by what is set out in the Code but on how this is reflected in our day to day activities and the behaviour of all of you.1 Ethics Of Standard Chartered Bank Standard Chartered reputation is critical to being the world's leading emerging markets bank. The Group Code of Conduct is a practical working document which guides employees through the many difficult conduct issues which confront them on a daily basis. . opening a branch in Chittagong. where it is still headquartered. The principles that govern the behaviour of our business and employees are reflected in a Group Code of Conduct. which led to a substantial expansion of the Bank's business. The Chartered Bank opened another branch in Dhaka in 1966. there was an organizational restructuring. In 1993.PART-2 STANDARD CHARTERED BANK 2. The preservation and enhancement of that reputation depends upon our businesses operating to the highest standards of ethical conduct. It increasingly invested in people. We face a particular challenge to uphold consistent standards of conduct while at the same time respecting the culture and varying business customs of all the countries in which we operate. The branch was opened mainly to facilitate the post-war reestablishment and expansion of South and Southeast Asia.
9571975 In Country Partner Banks Country business coverage Contact numbers 2. 2.BANGLADESH (BD) Currency Main offices/branches Bangladesh Taka (BDT) Address: 1st Floor .. Hadi Mansion. Dilkusha C/A. Sonali Bank & Agrani Bank Standard Chartered Bangladesh covers business throughout six major cities including Major Presence in Capital Dhaka & Port City Chittagong. customized product Cost efficiency 2002 .. IFIC Bank Ltd. 9571975 Solutions Delivery: Tele: (+880 2) 7169157 Fax: (+880 2) 9562329 . adapted by Standard Chartered Bank is clearly evident in the following comparison between its performance in 1995 to that in 2002. Dhaka Main tele: (+880 2 ) 9550181 Total number of branches: 18 Uttara Bank Ltd. 9560132 Fax: (+880 2) 9562329 . C&I Transactional Banking. 7169157 Fax: (+880 2) 9562329 . 9571975 Product : Tele: (+880 2) 9563911. Figure 2 Revenue Mix in 1995 Lending 16% Lending 35% Sales 6% Trading 7% B/S Manage ment 5% Cash 13% Trade 34% Trade 24% Re nue Mix in 2 0 ve 02 Cash 14% Trading 4% B/S Manage ment 22% DCM 2% Structure Products 2% Sales 16% 1995 Lack of revenue momentum Over layered organization Weak risk control environment Basic product offering.vanilla product High cost structure Revenue driven target/goal Revenue diversification & sustainability Strong risk management culture in place Higher value-added . National Bank Ltd. performance and growth.3 Performance and Growth The change in strategy. Standard Chartered Sales:Tele: (+880 2) 9563907..
Dec 2002 In terms of advances made. Oct. Bangladesh Bank. Oct-Dec 2002 From the above figure we see that of the 9% held by foreign banks in total deposits. SCB alone commands 40% of the deposits. 2. Bangladesh Bank. Standard Chartered Bank holds the leading position among the foreign banks with a market share of approximately 35%. The comparative performance (holding market share) of Standard Chartered Bank in terms of deposit and advance are presented separately in the following figures: Tota De l posits in FCBs SCB 40% CITIBANK Others 5% 10% AMEX 20% HSBC 12% CAI 13% Figure 3.4 Activities of Standard Chartered Bank Corporate Banking Group Standard Chartered Bank offers it local customer’s wide variety of financial services.Source: Scheduled Bank Statistics. Adv ances made by FCBs CITIBANK 20% OTHERS 6% SCB 35% AMEX 11% HSBC 13% CAI 15% Figure 4. All the accounts of corporate clients.All the foreign banks combined hold 9% in deposits as compared to 29% by private commercial banks and 62% by nationalized commercial banks.Source: Scheduled Bank Statistics. which mainly comprises the top local and multinational .
bonds and guarantees and local and international treasury products. confirming export L/C and issuing of import L/Cs. are assigned to Relationship managers who maintain regular and close contact to cater top their needs. Trade finance The trade finance of standard Chartered bank takes care of the commercial activity related issues. syndicated loans. The Corporate Banking Group in Bangladesh has displayed a spirit of community involvement by working with NGOs to underwrite soft loans. The unique Offshore Banking Unit (OBU) in Savar provides a full range of facilities to overseas investors. The objective of this department is to maintain a thorough knowledge of the clients’ business and to develop positive relations with them. Bond and Guarantees Project finance opportunities for import substitution and export oriented projects Treasury The foreign exchange and money market operation of the Standard Chartered Bank in the world is extensive. The Bank’s treasury specializes in offering solutions to those who wish to manage interest rate and currency exposure s . Standard Chartered offers its corporate customers a wide variety of lending needs that are catered with skilled and responsive attention. This is maintained through interactions to offer timely advice in a n increasingly competitive business environment. The expertise of the Institutional Banking and Treasury groups is also available whenever required. particularly those related to import and export finance services. They provide project finance and investment consultancy. Exotic currencies happen to be one of its special areas of strength. Some of the services are: Trade finance facilities including counseling. backed by its international branch and correspondent loan network. A 24-hr service is provided to customers in Bangladesh through the Bank’s network of dealing centers placed in the principal areas of the world.companies operating in Bangladesh.
Consumer Banking Superior retail banking services comprising of a wide range of deposit and loan products are offered by Standard Chartered Bank to its individual customers. The bank offers foreign missions. Custodial services: The Equitor Headquartered in Singapore. consultants. airlines. Standard Chartered Bank. Institutional Banking Group The IBG of Standard Chartered Bank offers a wide variety of products and services to banks and financial institutions. The Bank offers a 24-hour service in Bangladesh through its Money-link ATM Network and Phone-link Phone banking Services. The equitor’s customers are primarily foreign global custodians and broker/dealers requiring cross-border information as well as sub-custodian services. The Bank offers a full range of clearing. Standard Chartered equitor fulfils the groups’ strategic commitment to the provision of custodial service in Asia.that result from trade. voluntary organizations. It has global links with leading bank institutions and agency arrangements through its network of offices in 40 countries. but the overall management of the custody business is based in Equitor’s international business strategy. payment collection and import-export handling services. investment and financing activities of other dynamic economies of the region. Bangladesh is responsible for the planning in Bangladesh. the following services: Current accounts in both Taka and other major foreign currencies and Convertible Taka accounts. The consumer banking division constantly faces challenges and meets them by developing new products and services to fulfill the specific requirements of local TU. shipping lines and their personnel. SUPPORT SERVICES Operations .
Human Resource Department This department manages recruitment. . training and career progression plan. Since it helps mainly in processing the works of the business units.Operations are the part of the support division that helps to run the businesses of the bank in a smooth and controlled manner. Loan Administration Unit (LAU) deals with the processing of the Corporate Banking division. any mistakes made can be easily detected and on time. Treasury operations help to deal with the processing works of the treasury division. audit and back office operation Taking care of taxation and financial control of the Bank Keeping track of overall credit operation Information Technology Center This department is instrumental in the running of all the computerized operations of the bank. Operations also have a department that deals with internal projects that arises from the need to deal with certain problems or to make certain changes. Administration and Risk Management The support department performs the following activities: Administration. Following are the main functions of the operations department: Central operations deals with the closing and opening of accounts and other payment and account related processing of the Personal Banking division. Following are some examples of projects being dealt with presently: Finance. Standard Chartered Bank highlights the importance of developing its people to create a culture of customer service. innovation. Another duty of the department is to maintain communication with the rest of the world. teamwork and professional excellence. They help in the implementation and generation of computerized reports.
It also encourages its staff to conform to an internal culture of ethical behavior and sensitivities to the culture and religion of the country. and supervise internal control (e. Standard Chartered Bank complies by the rules and regulations seriously. Some of the key areas that the Legal & Compliance department has to take care of are: any kind of legal issues. There is a mandatory training on Company Code of Conduct for all staff members. Credit The credit department approves the loans of Corporate Banking division. correspond regulatory compliance issues to MESA Regional Head of Compliance. promotions. The local restriction involves a licence from Bangladesh Bank to operate banking business in Bangladesh. internal audit). Standard Chartered Bank is regulated by the Bank of England. .g. public relations. while in Bangladesh local banking laws regulate it and rules set by the Ministry of Finance and Bangladesh Bank. The approval is mainly based on the risk analysis of the corporate clients done by the Corporate Banking division. to advise the CEO regarding all matters and the management on legal and regulatory issues. Legal and compliance In the UK. partial marketing which involves disseminating new products and services to customers and above all ensuring service quality. External Affairs This department deals with advertising.
Cash Management Services cover local and cross border payments. superior cross-border and local services that enable efficient transaction processing. information management. account services and liquidity management for both corporate and institutional customers. collection. They will also be able to take advantage of SCB’s outstanding range of payment. 3. Africa. .PART-3 CLIENT RELATIONSHIPS PRODUCTS Client relationships provides transaction banking. Customers can manage their company's total financial position right from their desktop computer. customers always know where their money is. cash management. They provide a bridge to these markets for clients from the U. custody and trade finance services through their strong market networks in Asia.S and Europe.1 Transaction Banking Cash Management Service The cash management service provides total solutions to improve cash flows. Standard Chartered is highly recognized as a leading cash management supplier across the emerging markets. with reliable financial information. the Middle East and Latin America. liquidity and investment services and receive reports detailing when and where cash has been moving. collections. With Standard Chartered's Cash Management Services. The services provided are integrated.
Standard Chartered is able to offer you import financing. maximize buyer base. You may not want to put in the extra infrastructure or resources to expand your network but still want to ensure your clients’ transactions are serviced efficiently. Standard Chartered has a wide array of financing tools to ease your cash flow burden and help you grow your business. giving you time for the goods to be cleared and resold. Clearing is one of the important services in which your bank would need support to facilitate your clients’ smooth international trade and cross-border transactions. Export Services Do you need extra cash for manufacturing or purchasing the goods to fulfill your export order? Do you want to turn the goods into cash as soon as you have them shipped out? Standard Chartered offers you the opportunity to obtain pre-shipment and post-shipment financing. The bank offers world-class support across the worldwide buyer chain to minimize overall cost. it has a presence in over 40 countries. in addition to the extensive network of overseas banking partners and correspondents. to finance a drawing under an Import Letter of Credit or Import Bill for Collection. 3. • Receivables Services It gives you the financial security to explore new markets overseas or grow your business locally. Clearing Services With increasing business globalization.2 T Standard Chartered possesses 140 years of experience in Trade Finance. . To enable customers to capture global opportunities. Import Services Instead of paying for your imports immediately. You can now trade with the added confidence of our financial help. reducing your risk and cost. and shorten administrative processes. professional insight and knowledge of the risks and rewards of international trade earned the bank a unique position in the industry. your banking network may not have sufficient reach. SCB’s broad international customer base.
clearing and settlement services Securities lending Foreign Exchange Transfer agent for institutionsal debt and equity offerings Delivery. This information is available to clients with a registered login name and password. which include: - Custodial services Brokerage. Standard Chartered keeps its custody and clearing clients regularly informed of developments relating to securities market infrastructure and custody in Asia through a market information website. receipt. we help borrowers meet substantial financing needs by enabling them to reach the banks most interested in lending to their particular industry. Clients are offered a customized and comprehensive range of products and services. geographic .3 CUSTODY Standard Chartered Custody and Clearing Services' combination of local market expertise. Because we understand our syndicate partners' asset criteria.4 LENDING To support the local and international business. with the security offered by being an integral part of one of the world's leading international banks has garnered an impressive client base which includes leading North American. registration and physical safe custody of securities 3. Standard Chartered offers various services to help with: Loan Structure and Syndication Loan facilities. European and Asian institutions. settlement.3. Loan Structure and Syndication Our leadership in loan syndication stems from ability to forge strong relationships not only with borrowers but also with bank investors.
Import Loan. Modern banking operations touch almost every sphere of economic activity. Our syndication capabilities are complemented by our own capital strength and by industry teams who bring specialized knowledge to the structure of a transaction. Guarantees etc. Export Loan. L/C (Machinery). backstops and revolvers. self-liquidating loan. drawing from the full range of global resources and capabilities. overdrafts. a customer can overdraw his current account when any entry is debited to the account for more than the . term loans (including real estate loans and other secured debt). Overdraft. are seasonal loans provided by the local corporate division to different customers. SCB works closely with clients to understand the dynamics of the business so that the bank can anticipate and serve short-term and long-term funding needs in the most efficient manner. There are some standard loan facilities provided by the corporate division of Standard Chartered. L/C (Raw Materials) . OVERDRAFTS An overdraft facility is a revolving borrowing facility repayable on demand.location and structure through syndicated debt offerings. Where permitted by law. Without adequate finance there can be no growth or maintenance of a stable output. Loan facilities To enhance the ability to meet financial obligations and operate effectively. These are: Seasonal Loan Term Loan Permanent Working Capital Loan (Asset-based Lending) SEASONAL LOANA seasonal loan is generally defined as a short term. Bank credit is a catalyst for bringing about economic development. made available concerning a current account. SCB offers assistance in the form of working capital loans. Which means that the funds advanced on a short-term basis are repaid in full when the assets purchased by the funds are converted to cash.
Revolving Loan (RL) Revolving Loan is a contract between a borrower and Standard Chartered Bank (SCB) whereby SCB provides the borrower with a certain amount of currency. When any company collect raw material from local supplier on credit then L/C is required. interest will be charged on outstanding utilization on a daily basis. Overdrafts are flexible for borrowing intended to finance day to day cash flow requirements generated to normal business activity. they can collect this money from SCB at a specific interest rate to be repaid after 90/120/150 days. When a manufacturing company does not have the working capital to bear the operating cost. Overdraft facilities are uncommitted. for a period more than one year and up to 5 years. The bank has the right to cancel the facility and demand repayment without prior written notice to the customer. Our bank will charge a specific amount for L/C. the Bank may agree to make overdraft facilities available for longer periods (maximum one year). And it will be treated as Revolving Loan.available credit balance on overdraw. which is situated in supplier country. which is non-funded financing. . The typical tenor of an overdraft is one day. The Importer Company must open L/C in any bank. Once the limit is utilized. When the bank give financial guarantees to foreign bank through L/C application the foreign bank supplier will send raw material within a time period. Because they are unknown to foreign supplier. with annual review/renewal and subject to the Bank’s discretion to suspend/cancel the facility. Then the bank will contact with other bank. However. They are not intended for the financing of long term borrowing requirements for which more appropriate credit lines are available. Letter of Credit (LC) When any company needs to import raw materials from abroad then L/C is required. L/C is not only for import but also for local transaction. SCB gives the facility of loan to buy the raw material or other trade related products at a specific interest rate.
The person in respite. It is an irrevocable undertaking to pay in case of a certain eventually/contingency. Guarantee According to the contract act 1872.5 SWOT Analysis of Standard Chartered Bank The SWOT analysis comprises of the organization’s internal strength and weaknesses and external opportunities and threats. the long-term success of SCB is attributed to this strength of SCB whereas the long-term success of a bank heavily depends on its reputation while dealing with very sensitive commodity like money.import finance and falls under the category “ Commercial Lending”. SWOT analysis gives an organization an insight of what they can do in future and how they can compete with their existing competitors. 2.Loan Against Trust Receipt (LATR) Advances allowed for retirement of shipping documents and release of goods imported through L/C falls under this head. of whose default the guarantee is given is called principal debtor and the person to whom the guarantee is given is called the creditor. as the market . By grabbing the opportunity that exists in the market SCB. Unlike any other multinational bank in Bangladesh. The first bank in Bangladesh to issue Money link (ATM) card is SCB. Strengths: For more than 55 years in Bangladesh. The goods are handed over to the importer under trust with the arrangement that sale proceeds should be deposited to liquidate the advances within import and known as post. SCB is known to bear the Banking Experience that provides it the strength of being the market leader in the foreign banking sector. Guarantee can be defined as a contract to perform the promise or discharge of liability of a third person in case of his default.
now enjoys customers switching to them as SCB offers low deposit rates and has set the minimum balances too high. long waiting cues. moderate customer service. a large amount of customers have ceased transactions with the bank. SCB tries its best to come up with customers’ banking problems and solve them. Weaknesses: Banks. experienced and dedicated human resources. SCB is the only one among the foreign banks that has been able to utilize its extensive marketing efforts in order to capture a wide customer base at a very short time. who has to keep his transactions stopped for 18 hours until the next banking hour arrives. Many customers’ accounts have become overdrawn due to . showed the most substantial corporate strength among the foreign banks. which will be open from 6 pm to 8 pm in the evening. Furthermore. It is also keen to provide unmatched and instant 24 hour banking service and has recently opened the Call Centre at Lotus Kamal Tower in Nikunjo. As a result. who are offering better prospects. SCB’s dedication is supreme in providing the best phone banking services in town. Dhaka. Another recent step taken by them is starting the Evening Banking service. non-functioning ATM machines and outrageously high charges lead to SCB being noted for these weaknesses as well. SCB has a bulk of qualified. as this will reduce the lag and hassle associated with it. will be benefited. In order to exude innovativeness and creativeness.leader. The customer.
which they ultimately do not receive. Selfinterest of the employees are actually hindering their performance because SCB is employing individuals from other agencies and giving them tough targets to reach and thereby not giving them the full benefits of a permanent employee. or thought that they have been closed automatically. in many such cases it happened that a smart clerk picked up both the papers and took the money. customer often drop the counterfoil of the deposit slip with the main copy into the slip box. the implications are long run losses. Consequently. Even though SCB is getting benefited in the short run. The banking industry is now experiencing the contractual employment fever that has started up and SCB has also fallen prey to it. and also opening accounts for customers who can hardly maintain the account and do not even pay the minimum opening amount. Many of these customers or people they send to the bank on their behalf. The system of withdrawal and deposit may be new and different from the system the customers have come across at local bank. are not educated and hence they face difficulty in the system of deposit or withdrawal. Many customers do not bear the proper knowledge as to the process of depositing and withdrawing money. many accounts are opened by Direct Sales Executives by luring customers with loans. Then there were no . For example.fees that have been charged by the bank’s computer system for as long as three years because they have either simply not cared to close their accounts. and the local banks’ increasing aggressiveness SCB is also facing problem in its system of collection and disbursement of cash. During the last 10 years the banking industry has become considerably monopolistic and hence SCB is starting to lose its market share to its rivals due to low barriers to entry. For instance. The bank does not take many steps to assist them either. since the system of deposit is not that vivid.
Another weakness of the bank that can be sighted as well is Poor coordination and communication between the head office and branches. Opportunities: Standard Chartered Bank was approved of the permission to start Islami Banking from The Government of Bangladesh. they still face problems in executing because the branches are not well aware of such a project and therefore. many customers believe and complain about the unethical banking of SCB. It also has the prospect of expanding its customer base.i. The country’s growing population is gradually and increasingly learning to adapt to and use the banking service. Because the way SCB makes charges to accounts cannot be properly explained.e. This suffering of SCB from myopia. and . it may undergo severe losses.documents left for the bank or the customer to prove that he/she deposited the money.especially in Consumer Banking. SCB emphasizes more on short-term profits than focusing on the maintenance of a long-term healthy relationship with them. While dealing with its customers. shortsightedness leads it to pursue strategies in such a myopic manner. the activities are hampered due to some activities of the branches. As the bulk of our population is middle class. and so in the long run. Even after the head office’s carefully thought out action plan for a project. As the head office undertakes many projects. their actions do not comply with what is required for the ultimate success of the project. The bank now has a whole new prospect opening up and also the opportunity to introduce a wide array of Islami Banking products.
SCB also has a good consumer base that maintains several accounts at once. Mercantile Bank. the bank can attract a lot of the old customers who have strewn away to other banks as well as new customers. Islami Bank and Bank Asia are also coming up with very competitive products. Southeast Bank. and lowering the minimum balances eligible for interest. Threats: Increased competition by other foreign banks is a threat to SCB. they may be able to pursue many opportunist business ventures. and hold a stronger competition against local banks. BRAC Bank. By freeing their credit screening policy a little. and it faces the threat of being wiped out by competition.Muslim. different types of Islami Banking products will have a very large and easily pregnable market. More Branches around Dhaka specially and all over Bangladesh will enable SCB to capture more market share. By offering more attractive interest rates. Dutch Bangla Bank. . Furthermore. as well as market share is falling. SCB has rigorous credit screening policy and it is over conservative. With customers shifting to these banks. Social Investment Bank. At present HSBC and CITI Corp are posing significant threats to SCB regarding retail and business banking respectively. SCB has the opportunity to keep these customers by reducing its current fees and charges and positioning attractively in middle class segment. EXIM Bank. SCB’s profits. the new comers in private sector such as Prime Bank.
These economic situations of the country indicate political threats. substantial amount of savings is remaining idle. . Currently foreign direct investment in the country is very low. In today’s economy.
They are committed to providing you with • • • • Integrated.S and Europe. the Middle East and Latin America.1 Introduction As part of Standard Chartered's global transaction solutions to Corporates and Institutions.A DESCRIPTIVE ANALYSIS OF TRANSACTION BANKING 4. Africa. superior cross-border and local services Efficient transaction processing Reliable financial information Innovative products . Securities Services and Trade Services through our strong market networks in Asia. we provide Cash Management. We also provide a bridge to these markets for clients from the U.
has the flexibility to cater to your local needs. It’s Cash Management Services cover local and cross border Payments.ensuring efficient and quick turnaround of inventory to maximise returns. In an environment of constant changes and uncertainties. Key concerns include: Receivables Management – ensuring receivables are collected in an efficient and timely manner to optimise utilisation of funds. thus enabling you to meet your objectives of reducing costs and increasing efficiency and profitability through better .• World-class clearing services thus ensuring a full suite of transactional products for your needs. Information Management. delivered through a standardised international platform. Risk Management – ensuring effective management of debtors to eliminate risk of returns and losses caused by defaulters and delayed payments.2 Cash Management Services: Cash Management for Corporations: Collections Services Comprehensive receivables management solutionStandard Chartered understands that operating and sustaining a profitable business these days is extremely tough. This Collections Solution. Cost Management – reducing interest costs through optimal utilisation of funds. 4. most businesses face challenges of costs and efficiency. Inventory Management . Our Solution The Standard Chartered Collections Solution leverages the Bank’s extensive regional knowledge and widespread branch network across our key markets to specially tailor solutions for your regional and local collection needs. Account Services and Liquidity Management for both corporate and institutional customers. Collections.
You need a partner bank that can help you: Maximise interest income on surplus balances. The key components of our solution include the following: Extensive Clearing Network Guaranteed Credit Comprehensive MIS System Integration Outsourcing of Collection Liquidity Management Solutions for efficient management of your funds A corporate treasurer’s main challenge often revolves round ensuring that the company’s cash resources are utilised to its maximum advantage.receivables and risk management. Click here for an illustration of our propositions. Standard Chartered will help you define an overall cash management strategy which incorporates a liquidity management solution that best meets your needs. regional and global accounts Minimise FX conversion for cross-currency cash concentration Customise liquidity management solutions for different entities in different countries Centralise information management of consolidated account balances Our Solution With our global experience and on-the-ground market knowledge. Key Features Based on your needs and the regulatory environment that you are in. you can choose any of the following features: Physical Sweeping Notional Pooling Interest Reallocation Investment . minimise interest expense on deficit balances for domestic.
You may not want to put in the extra infrastructure or resources to expand your network but still want to ensure your clients’ transactions are serviced efficiently. To realise the benefits of STS. With a comprehensive End-to-end Payment Processing Cycle. whether they be domestic or international.Payments Services Global payments solution for efficient transaction processing Looking to outsource your payments to enable: 4 5 6 7 8 Efficient processing of all your payables in the most cost effective way Straight through processing both at your end as well as your bank's back-end Efficient payables reconciliation with minimal effort and delay Quick approval of payments from any location Minimum hindrance to automation due to local language difficulties Centralised management of payables across departments. Cash Management for Financial Institution: Clearing Services Making the right connections for financial institutionsWith increasing business globalisation. please contact your local Relationship Manager or Cash Management representative. STS allows companies to process a variety of payment types. all in a single system file. Clearing is one of the important services in which your bank would need support to facilitate your clients’ smooth international trade and cross-border transactions. local or central in different countries. whatever industry. size or country you may be in. . your banking network may not have sufficient reach. subsidiaries and countries Our Solution Standard Chartered's Straight Through Services (STS) Payments Solution can be tailored to the different payment needs of companies.
enabling them to take full advantage of the settlement risk benefits associated with FX settlement through CLS. You can count on our over 150 years of on-the-ground experience to tailor a clearing solution that meets your needs. Continuous Linked Settlement Continuous Linked Settlement (CLS) is the new private sector response to increasing regulatory pressure to reduce foreign exchange settlement risk exposures. Standard Chartered offers “Best in Class” technology and processes in our clearing services wherever you are.It’s Solution Standard Chartered’s international network and multi-currency capabilities are well placed to provide you with a seamless service for all your clearing requirements worldwide. Standard Chartered is a correspondent banking partner you can trust to make this potentially complicated process much easier for you. Click here to view our international network. the Middle East and Africa USD Euro . .includes Sterling We tailor clearing solutions to address your specific needs whether in one or multiple countries. Standard Chartered at the forefrontStandard Chartered Bank has been deeply committed to this industry initiative since its inception in 1997 and holds full shareholder status in the new Bank. or to complement our other services. Standard Chartered operates as a full Settlement Member within CLSB and extends comprehensive Third Party services to our customers. The initiative has been live since the end of 2002 and is endorsed by the G10 central banks and lead regulators. the USA and the UK.Asia-Pacific. in whichever country you do business and in whatever currency: Emerging Markets . South Asia. Our network extends across Africa. The primary objectives of CLS are to eliminate the inherent settlement risk from the current foreign currency settlement processes and to provide a mechanism for containing any systemic risk arising from the failure of a major market participant. the Middle East. South Asia. Latin America.
is highly reputable in providing flexible and innovative financial services solutions. Our Cash Management Services cover . we constantly review our comprehensive products and services. With over 140 years of experience in trade finance and an extensive international branch network. ensuring that a full range of flexible and innovative services is always available for you wherever you trade. convenience and efficiency to the success of your business. you have everything it takes to manage your cash flow more accurately. With Standard Chartered. Collections. You have the flexibility to manage your company’s complete financial position directly from your computer workstation. Liquidity and Investment Services and receive comprehensive reports detailing your transactions. We make easy the complex financial world for you and help you maximise every opportunity. Standard Chartered is committed to help you succeed in every competitive environment. We apply state-of-the-art technology to automate our daily operations and electronic delivery system has been put in place to ensure that transactions are handled swiftly and efficiently. Standard Chartered. We adopt a proactive approach in tailoring customised packages to meet our customers' everchanging needs. Our dedicated Customer Service Centres are staffed with experienced Cash Products Specialists to ensure that all our customers are well served. Standard Chartered is highly recognised as a leading cash management supplier across the emerging markets. you’ll always know your exact financial position. Standard Chartered fully understands the importance of time. established since 1948.With Standard Chartered’s Cash Management services. To keep pace with your changing needs. You will also be able to take advantage of our outstanding range of Payments.
6-city. They can perform Cash deposits and withdrawals. Bogra. Chittagong. Standard Chartered customers have access to a 18-branch. who maintain regular and close contact with our clients in order to understand their requirements and service them better. They can help you: • • • • manage the availability of your funds efficiently monitor and control the movement of funds settle payments to your suppliers in a timely and cost-effective manner. 25-ATM banking network. make transactional queries. Our Corporate Accounts are managed by dedicated Account Relationship Managers.local and cross border payments. Cheque Deposits. capture every investment opportunity to increase your income 4. give cheque book requisitions. account services and liquidity management for both corporate and institutional customers.3 Accounts Services In Bangladesh. we provide a wide range of account services for our Corporate Customers. Khulna and Narayanganj. collections. information management. Fund Transfers. At Standard Chartered. ask for account statement and pay utility bills. Sylhet. Customers can operate their accounts through any of our fully automated offices in Dhaka. We offer the following types of accounts to our corporate clients: • Current Accounts—These are checking Taka accounts through which funds can be freely deposited and withdrawn. Corporates typically use them for most of their transactional requirements which includes .
pay-orders/demand drafts and even inward remittances from abroad. Fixed Deposit Accounts— Fixed Deposits are for varying tenors. The STD account is a useful mechanism to earn interest on idle funds for companies that can not commit fund for longer period of times in Fixed Deposits. Convertible Accounts— The Convertible Account is a checking current account with balances denominated in Taka.collections as well as payments. However. Collections may be in the form of cash. • • • • . Similarly. Corporate Provident Fund accounts. etc. cheques. current offerings range from 1 month to 5 years and the interest rate also vary correspondingly. Strict Exchange Control Regulations govern the opening and operation of Convertible Accounts and it is advisable to discuss these in detail with the Bank before opening such accounts. cheques and other available mechanisms. Payments or withdrawals from this account can be made in both Taka and Foreign Currencies. Savings Accounts— These accounts are mainly aimed at the individual and are usually offered for Corporate employees. payments may be in the form of cash. can also use such accounts. Short Term Deposits (STD)—These are similar to current accounts in operation accept that they do not have checking facilities and they earn interest. Gratuity Funds. which is calculated on a daily balance basis and credited at periodic intervals. providing statutory appropriate approvals are held. Fixed deposit accounts can not be used for transactional purposes and interest can only be earned upon the maturity of the deposit. however funds deposited must have a foreign currency source.
Strict Exchange Control Regulations govern the opening and operation of Foreign Currency Accounts and it is advisable to discuss these in detail with the Bank before opening such accounts. MS Access etc. you also receive information about movements through your . text. you can display it on the e-Banking workstation or print it. e-Banking also incorporates an “events scheduler” which automatically executes tasks for you. Whether it is cash or trade related.• Foreign Currency Accounts— In addition to the various local currency accounts. MS Excel. The embedded report generator enables you to customise report formats to suit your particular requirements.4 e-Banking e-Banking provides you with a full range of reporting capabilities. there are two types of Foreign Currency accounts available: a USD/GBP checking Current Account or a USD/GBP Fixed Deposit which is also called a Non-resident Foreign Currency Deposit ( NFCD) and which earn attractive interest rates. The following are the key features of e-Banking: Cash Reporting… With e-Banking. you not only receive access to your accounts throughout the Bank’s network. reliable and effective link between you and your accounts anywhere across the Standard Chartered network with more than 500 offices in more than 50 countries. Once you have defined your required reporting data into the system. the user-friendly e-Banking customer workstation will provide you with a secure.g. 4. e-Banking offers Data Export/Import capability to/from other widely used Windows-based software (e.). and a comprehensive range of transaction initiation options. Moreover.
beneficiary and account details. including electronic funds transfer as well as paper based payment options such as drafts. Standard Chartered’s e-Banking includes a series of features such as User Authorization. These include templates for commonly used transactions. statements. Password Protection. LC applications. The user friendly design of e-Banking enables you to view your account details quickly and easily – account balance details. issue. “look-up” tables for frequently used information such as bank. and a “create from previous” capability that allows you to select one of your earlier instructions as a template for your current input. you need to have the right safeguards in place to prevent people without access rights from tampering with the system. funds withdrawals. strict security is of the utmost importance. amendments.accounts with other banks via the SWIFT multi-bank reporting capability. . import collections and reimbursement authorizations. e-Banking simplifies the cash input initiation process by providing you with features that improve accuracy and efficiency. Cash Initiation… You receive a full range of domestic and cross-border transaction initiation capabilities through e-Banking. Trade Initiation… e-Banking provides you with a full range of trade transaction capabilities including. Authentication & Encryption and Tracking transactions through an Audit Trail to ensure data integrity and meet your security needs – all in line with industry-recognized standards. Security & Control… When making financial transactions electronically. and history information are all available at the touch of a button.
4. We have dedicated support at each location who will maintain close contact with your offices. NCS offers a centralised system where you can maintain a single concentration account with Standard Chartered for all your countrywide collections. Since NCS quickens the speed of collections compared to the normal . Improve your cash flow… Your single concentration account in Standard Chartered is credited on a preagreed value date for locations where local clearing exists. we can arrange for a courier to collect the cheques from your offices at pre-agreed times. Chittagong. Standard Chartered’s National Collection Services (NCS) is designed to help corporates with receivable collection requirements across Bangladesh. Moreover. Khulna. dealers and distributors. It provides faster funds availability in a cost-effective manner and improve the company’s liquidity. Narayanganj. and Bogra. Sylhet. Cheque Pick up… Alternatively. it is more important than ever to turn your receivables into funds you can actually use. we ensure funds are realised in the shortest possible time. Comprehensive coverage… You may deposit cheques at our Correspondent Bank branches (currently 63 locations) in addition to the eighteen (18) Standard Chartered branches in Dhaka. So there is no more guessing when funds will become available for your use.5 National Collection Services-NCS In today’s business climate. They will collect cheques from these places and deposit them at our correspondent bank branches. for non-clearing locations.
when. Our informative reports will • • • Help you better plan your cash flows Support your customer credit control process Help you to reconcile your receivables quickly and efficiently In short. Receive better information… Your ability to manage your business effectively is dependent on the quality and timeliness of the information you receive. National Collection Services provides a variety of informative and timely reports to make sure you know what funds are being collected. and there is no need to handle multiple.clearing/collection process. You will promptly receive deposit acknowledgements and your Standard Chartered Concentration Account will be credited on the pre-agreed date (based on the cheque type you have deposited at the designated branches). and how – to help you make the most effective decisions regarding your company’s finances. You can also receive a comprehensive statement. detailing the deposits made at each of the designated branches and the funds due from them. time-consuming reconciliation tasks. you can take the advantage of investment opportunities – or reduce your borrowing costs – instead of waiting. National Collection Services is a simple and reliable solution to your countrywide receivable collection requirements. Simplify reconciliation and reduce idle balances… National Collection Services is designed in such a way that all funds for collection flow into your concentration account. ADVANTAGE OF NCS Sl No Thru NCS Without NCS . There is no need for multiple local accounts with idle balances.
individual number. cheque is drawn on clearing area and faster collection (maximum 1 week) if the cheque is drawn on non-clearing 4 locations. We do have return reports showing all No such MIS is available.500 charges for processing any deposit (including cash. Cheque Cheque and Cheque be Date. have separate reports for Cheques & Cash showing respective total deposit for a locations. any SCB cheques branches drawn sent on for Coverage at 50 Corrbank Locations and 6 SCB locations. It For cheques deposited in any normally there is absolutely no turnaround clearing location we are crediting the guaranteed time. cheque can Date. in 5 the cheque. consolidated particular location and also depositor’s 6 name. the details including Return Reason. processing any collection cheques. Customer can deposit outside branches.POs) through NCS No return charges in NCS A flexibility of having the Return charges of BDT 100 for any dishonored collection cheque. Drawee bank’s name so that the easily marked . A pre-agreed credit-structure is given in NCS. Return Amount. DDs.1 They are charging .10% with a . any kind of instrument in these collection and usually it takes 2/3 the weeks to realise the cheque. NZML with a pre-agreed turnaround may even take months to realise Corr bank clearing locations it is Day 3.25% with minimum BDT 300 and minimum processing fee of BDT 100 for maximum BDT 1. network There is no such arrangement exists. A comprehensive MIS provided for all No such MIS available in normal the transactions through NCS. Guaranteed credit if Cash. For SCB it is next day and . 2 3 cheques. If the cheques sent for collection time. We do procedure.
The service ensures that appropriate narration is provided for all individual account credits (i. We do have a separate report called list of Relaised transaction showing details of honored/dishonored collection No such MIS is available. a service for our Corporate Customers which offers automated bulk transfer (e. Dedicated customer service support.6 Opspay Standard Chartered is proud to present OPSPAY. (BD) Ltd. 8 cheques. OPSPAY processes your Staff Salary Payment by downloading your payment instructions in the form of a Floppy Diskette. Cash flow forecast & Reconciliation No such MIS is available. This will result in reduced errors and an overall improvement in your salary payment processing. We do have comprehensive charges No such MIS is available.7 reconciled. All in all a single point collection There is not customized dedicated solution for New Zealand Milk products service for any specific customer. . report showing complete break-up including individual deposit’s break-up 9 10 11. salary for the month of xxxxx) in account statements.e. of charges levied in a particular month. No such dedicated service. salary) processing from their corporate accounts.g. This service has the following benefits. report for easier reconciliation purpose. 4.
The combined network of Standard Chartered Bank (18 branches. Chittagong. which from any one of our branches or 24-hour ATMs. and Khulna. Our branch network now covers Dhaka. Sylhet. Error-Free: As the instructions will be downloaded directly from the Floppy Diskette. Value-date: Funds transferred through this service are immediately available at all our branches and ATMs • • All you need to do is send us the salary transfer instruction in an Excel File that should contain the following information: Full Account No. 4. which will be used to validate the soft-copy details. 25 ATMs) and a hundred-year old heritage in Bangladesh places us in a unique position to support your banking needs. Our offer includes a vast range of financial products and services are linked through on-line-Banking services enabling you to operate your account of complemented by a designated Relationship Manager to manage your requirements with personalized care. Narayanganj.m.• Time-efficient: We can act on your instructions on the same working day if the Diskette containing the information reaches our concerned department before 11. Bogra. Account Name & Salary Amount The diskette should be accompanied by a written authorization.7 Premium Service-Banking .00 a. OPSPAY eliminates manual entries and minimizes the possibilities of any errors.
cheque payment status and other transactions. Bangladesh. Dedicated personnel are available to handle a full range of transactional banking enquiry relating to balances. statements and cheque book requests. These service enhancements collectively allow you to manage your business finances and cash resources more effectively and conveniently. Premium Service-Banking customers will have access by fax or by phone to an exclusive Corporate Service Unit (CSU) in the Bank’s Office at Dhaka. payment instructions. The service is available for non-cash transactions like cheque deposits. Inward Remittance Information Service . Auto-Fax Reports A comprehensive Daily Account Statement covering detailed transaction information will be made available to customers via fax every morning. It comprises of the following six modules— Courier The Bank will provide you with the convenience and security of a daily courier pick-up and delivery service at your premises for your routineBanking transactions. It will contain complete transaction details up to the close of business of the previous day to facilitate better financial management of your precious cash resources. trade finance documents.Premium Service-Banking offers you a choice of service improvements which can be tailored to your individual business needs. Hotline (A Single Point of Contact) This facility provides you with a single window into the bank for all your transactional banking enquiry. account statements.
and interest rate indices. stock indices. For pay orders. in the form of a Weekly Treasury Newsletter.m. .m. the Bank will provide with a clear and concise market commentary. bond. we offer you an alternative.The bank will pro-actively provide you with a fax report detailing all Inward SWIFT payment messages received by the Bank for your accounts with us. the cut off time for Premium Service-Banking customers has been extended to 3:30 p. What is more. for Premium Service-Banking customers. Express Payments In case you miss our daily courier or urgently need to send a telex or draft. which covers the major financial events of the week and provides information on movements in major currencies. commodities and USD Money Market rates. highlights from international financial markets and information on technical chart points. initiate your request for a payment via your fax machine. In addition. Our Daily Treasury News provides information on Foreign Exchange rates. key stock. For the first time you will get to know about the receipt of such remittances even before they are processed in the bank. the Bank commits to initiate remittance transactions for telex/SWIFT transfer instructions received by 1:00 p. These messages will provide you with complete remittance details including amount and remitter information. Foreign Exchange & Money Market Information The Bank will arrange to provide information on Foreign Exchange and Money Market rates on a daily basis by fax.
Typically the customer has to maintain a database from which payments are periodically made. e-Banking.8 Payments Plus What is Payments Plus? Payments Plus is a user friendly software which is offered to corporate customers of Standard Chartered Bank to facilitate the payments that they wish to make through its electronic platform. pay orders and demand drafts drawn on other banks Tangible benefits you get by using Payments Plus . typing in the required information into the e-Banking template creates an additional level of work. Thus sending payment instructions to Standard Chartered Bank becomes a one-step process What Payments Plus means for you? • • • • Outsourcing of domestic account payables to the bank Integration of e-Banking with account payable systems Ability to process bulk transactions Supports internal transfers. then Payments Plus uploads the information from the file to e-Banking. For customers who are already used to the convenience of sending instructions electronically through Standard Chartered’s e-Banking. If the accounts payable system is maintained in a simple predetermined format (typically in MS Excel file).4. by utilizing this software the process of typing in all the requited information becomes just a single click of the mouse button. This is where Payments Plus comes in. What Payments Plus essentially does is create a bridge between the customer’s own accounts payable system and Standard Chartered’s eBanking.
You can choose the level of reporting that best meets your company needs. Our innovative information service now enables you to get an up-to date and easy –to read summary of your outstandings for your Import. You get the following benefits from our Trade Reports Monitor your outstandings at a glance Take control of your bills status and cash flow Optimally utilize your trade credit facilities Proactively act on problems relating to unaccepted or unpaid bills Control over the expiry dates for import and export Letters of Credit Its range of Trade Reports… Trade Reports puts you in control of your trade outstandings – and gives you all the information you need to effectively manage your company’s trade business.9 Trade Reports At Standard Chartered. we understand how important it is to stay informed of your trade commitment at all times. Export and Shipping Guarantee positions.• • • • • Increased efficiency Greater control Enhanced security Improved vendor relations Lower all-in-all cos 4. We offer six types of report categories . and you can change this selection as your business grows.
All reports can be delivered by fax. They can be delivered on a daily. Bid Bond and Performance Bond issuance. or held for collection.1. Import Letters of Credits Report details your outstanding Trust Receipts Maturity Report details your outstanding trust Acceptances Report details your outstanding acceptances and import letters of credit transactions • receipt transactions • their maturities 4. weekly. monthly basis or on demand.10 Web Bank Introduction… Web Bank can significantly enhance the bank’s service to you and will play a pivotal role in the future of your business. As a Web Bank customer you . Export Trade Maturity Report includes the following information: • Export Letters of Credit Report details unexpired export Export Drawings/Bills Report details your outstanding export letters of credit transactions • drawings/bills transactions Import Trade Maturity Report includes the following information: • 3. Guarantee Report details your outstanding from copy document endorsement for air. sea and road. 2. The only thing that you need is an access to the internet and you will be able to use Web Bank from anywhere in the world. 4. Trade Outstandings Report summarizing all your trade finance outstandings in the report. fortnightly. Our Corporate and Institutional web-site offers you comprehensive information on your accounts and a number of value-added features. mail.
11 Cheqwriter What is CheqWriter? CheqWriter is an user-friendly software developed and owned by Standard Chartered Group. PDF or text format and take printout. printing. which is offered to corporate customers to facilitate the preparation. You can then view the following information online: Cash Account Statement Cash Account Balances Cash Balance History You can also save these information as HTML.will be given a specific user ID and a confidential password. 4. . CheqWriter also provides different types of MIS for a better control on your cheque payments. Balances and Message Center on Web bank Security… In order to meet the rigorous industry standard of transactional security. and recording of Standard Chartered cheques. In addition you will be able to find a comprehensive range of information about Standard Chartered Bank. its services and world-wide network. We have achieved the status of Identrus Global Certified Authority in 2001. A major advantage of Web Bank is the user can access this web-site from any location through an internet connection only. we have adopted the operational and technology framework of Identrus Global Public Key Infrastructure.
The bottom part is the cheque that contains all regular input fields of a conventional cheque leaf. Controls against typing errors. What are the hardware requirements for CheqWriter? CheqWriter can be operated from either a single personal computer or from a network of multiple computers. An optional “Account Payee Only” marking for crossed cheques can be printed on the cheque leaf by CheqWriter.5” Disk Drive Hard Disk drive with 25MB free space. 486 processor (minimum). Robust overall security.The Bank will supply the cheque printing stationary as and when requested by the customer. This is a pre-printed A4-size cheque form with two sections separated by a perforation. which can be used both for recording purposes as well as receipts. Hardware requirements for installation of CheqWriter are: 100% IBM compatible personal computer operating under MS Windows 95 and above. and Professional counterfoils.44 MB 3. 1. The top part is the counter foil of the cheque that can be used as a paper-record of the transaction and can also evidence the payee’s receipt. How can you benefit from CheqWriter? CheqWriter allows you to customise your cheques with company details. 16 MB RAM. logo and counterfoil. . What are its features? Customisation of cheque leaves with customer logos. Data storage for a complete history of all cheque payments.
Billspay will not only provide convenience but also allow flexibility to pay your bills as and when you choose.12 Billspay We are pleased to introduce Billspay. Billspay provides one-stop payment solution where we will debit your account to pay your bills. Or simply choose Billspay Express to enjoy the benefits of both the services mentioned above. Choose Auto Billspay to outsource your utility payments to the bank. All you have to do is sign up once and completely forget about your bills… we will take care of them. has the ability to interface with other applications. provides full audit trail of all transactions. mobile phones. And if you’re not comfortable with paying in a date deterSmined by the billing company. every month. Once you sign up for our services you will no longer have to go out of your way to pay bills for electricity. You decide when to pay and we’ll send in our people to . You can send your bills to our bank at any day of the month by a messenger and we will pay off your bills and stamp “PAID” on your receipts. 4. Users can also be assigned with different access levels to avoid unauthorized use of CheqWriter. internet. Security… Access to CheqWriter can be parameterized through user IDs and passwords. saves time by automating the cheque preparation. The bank will collect your bills directly from the billing company and debit your account to pay them according to their billing cycle.. etc. the most convenient way to settle your monthly utility bills. maintains a history of all cheque payments and can provide a wide range of information extraction capabilities through various reports. we have Billspay Regular for you.
To sign up for Auto Billspay you have to give us detailed billing information. customer’s name and signature should be given at the time of sign up.collect your bills from your premise(s). You should also provide a copy of the relevant bill statement(s). stamp “PAID” and send them back to your office. billing date (for payment of mobile phone bills). To enjoy Billspay Regular or Billspay Express all you need to do is accept our banking service proposal customized towards your requirement Internship Report on TRANSACTION BANKING IN STANDARD CHARTERED BANK BANGLADESH A Descriptive Analysis . billing company’s name. Information like meter number (for payment of electricity bills). We will pay off these bills.
Sec.-B Faculty of Business Studies University of Dhaka . Dhaka-1000 Submitted by Md. Mohin Uddin Department of Finance & Banking ID-6-132.Submitted to M Aminul Huque Head of Human Resources Standard Chartered Bank 2 Dilkusha C/A.