Standard Chartered Bank has introduced Client Account Services (CAS), a new cash management service in UAE, for corporate and institutional clients to manage customer funds.
Standard Chartered Bank said that CAS solution allows users to administer and segregate downstream customer bank accounts with efficiency, visibility and security.
The solution can be used by various sectors including securities brokers, portfolio management, property management, law firms and aviation/logistics industries.
CAS, a web-based solution, is available through the bank’s electronic banking channel Straight2Bank.
The users of the CAS solution can immediately arrange for collection and payment from individual customers via the newly created bank accounts (sub-accounts) and obtain real-time account information on all accounts.
Standard Chartered Bank UAE transactional banking head Haytham El-Maayergi said that client account services is a strategic tool which not only benefits our clients with unparalleled efficiency and security but also enables them to improve their customer and supplier interaction with greater transparency and responsiveness.