Standard Chartered Bangladesh recently inked an agreement with IDLC Finance Limited (IDLC) to act as a banking partner for the non-banking financial institution's online digital deposit collection.

IDLC Finance recently launched an Online Digital Deposit Service to encourage customers to meet their deposit needs without visiting branches physically.

This service will serve as a single gateway with multiple payment options to collect the deposits from IDLC's depositors, and the real-time API integration will allow instant transfer of deposit information.

Using Standard Chartered's Straight2Bank Pay with API integration, IDLC will be able to deliver a seamless experience to its depositors so that they can open fixed deposit accounts anywhere anytime and make payment using multiple payment options at their convenience.

Jamal Uddin, CEO and managing director of IDLC, said: "The Straight2Bank Pay service will provide our valued customers with a convenient, reliable and cost-effective option for their deposit payments."

Alamgir Morshed, managing director and head, financial institutions of Standard Chartered Bangladesh, said: "Our solutions like Straight2Bank Pay with API integration will enable today's corporates and financial institutions with the capability to digitise its collection process for both online and offline channels. We are proud to partner with IDLC Finance Limited, an early adopter of innovation in the financial institution segment, to bring in digitisation and efficiency in their deposit mobilisation process." 

Straight2Bank Pay is Standard Chartered's one-stop global platform to provide customers with different digital payment options covering both their online and offline collections.

It is integrated at the point of payment checkout, and it aggregates multiple payment options, including bank transfer using virtual accounts, cards, net banking and mobile wallets.

Straight2Bank Pay uses online checkout, QR code and payment link capabilities to cover various clients' use cases like collections via an online store, mobile app, physical stores, remote collections, payment on delivery and bill payment.