Standard Chartered Bank and Ducab, the UAE-based manufacturer of high-quality cables and cabling products, owned by government related entities of Abu Dhabi and Dubai recently celebrated the implementation of a fully integrated payments solution.
After commencing its roll-out back in 2016, the bank’s Straight2bank solution was intended to give Ducab financial, strategic and operational efficiencies. The solution standardised communications and has also ensured complete automation of workflows between the enterprise resource planning (ERP) module and the bank systems – providing better visibility to Ducab accounts across all geographies.
“We are very proud to have been selected as one of Ducab’s main collections and payments bank. By facilitating automatic reconciliation, the Bank could deliver seamless and efficient vendor payments capability and full control on the client receivables,” said Motasim Iqbal, Head of Transaction Banking at Standard Chartered Bank, UAE.
At a commemorative event at Ducab’s headquarters, Julian Wynter, Chief Executive Officer, Standard Chartered Bank, UAE said, “Delivering this solution to Ducab reaffirms the Bank’s commitment to the UAE’s digital agenda, and allows us to continue playing a key role in supporting the UAE’s national strategy which aims to make the UAE the most innovative nation in the world by 2021.”
“Today Ducab is investing in tools that facilitate a smooth and secured purchasing experience for our customers. Moreover, as the company grows, we will continue to focus on delivering value to all our partners, and that involves building financial structures that make it even easier to do business with Ducab. We are proud to partner with Standard Chartered who have truly understood our vision and business needs,” said Andrew Shaw, Managing Director, Ducab.