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Spinneys ties up with StanChart

Dubai, June 23, 2009

Spinneys Dubai has become the first organisation in the UAE to implement Standard Chartered’s ‘Straight2bank’ Access – a fully integrated end-to-end connectivity platform providing robust payment, information and account reconciliation system.

The seamless and secured integration with Standard Chartered Bank SAP-XI will enable Spinneys to carry out domestic and international payments from different office branches across their business operation, said a statement from Spinneys.

Tony Fernandes, GM Finance and Administration of Spinneys Dubai said, 'Our customer and supplier base is spread across a number of countries in the region and so it’s vital, more so in today’s environment, that efficiency is increased.'

'The new system will allow this via secure electronic payment processing and at the same time achieve operational efficiencies and cost control,' he noted.

Haytham El-Maayergi, head of Transaction Banking for Standard Chartered Bank UAE said, 'In meeting with our clients’ sophisticated needs, we have made significant investments in the Bank's electronic banking capabilities to deliver sophisticated transaction, trade, hedging, and information services through a single platform.'

'Straight2Bank' has been designed with the flexibility to be adapted for all types of clients from small and medium enterprises through to sophisticated multi-nationals. With Straight2Bank, Standard Chartered has been able to customise solution to exactly meet Spinneys needs,' he explained.

Standard Chartered was earlier named best corporate and institutional internet bank in 15 countries worldwide by Global Finance, a renowned international financial services magazine.

The Bank also received top accolades in 2008 for being the Best Cash Management Bank & for its ‘Straight2Bank’ platform which was launched in May 2007.-TradeArabia News Service




Tags: Standard Chartered | Straight2Bank | Spinneys Dubai |

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