Driving treasury efficiency through automation at HKRI Ltd
Expert execution delivered a seamless rollout with ample testing and training, completing two months early to accelerate treasury efficiency gains.
Results
- >100 per cent increase in volume of transactions because of automation.
- Project completed 2 months ahead of client’s schedule.
- Identified new opportunities of payments-on-behalf-of (POBO) and Direct Debit Collections.
We were impressed by the level of professional knowledge and project management expertise of the Implementation team at Standard Chartered. Combined with their platforms and solutions, they were one of the first banks to deliver our requirements – which allowed ample time for testing and training.Dennis YueAssistant General Manager, Corporate Finance & Treasury, HKRI
Background
HKR International Limited (HKRI) is a conglomerate headquartered in Hong Kong. The company has various businesses and investments in Hong Kong, Mainland China and Asia, such as real estate development and investment, property management, hotels and serviced apartments, and leisure businesses.
Objectives
HKRI wanted to integrate their treasury management system, SAP, with the payment and collections platform, Standard Chartered’s Straight2Bank, to achieve maximum automation. However, it was using services from multiple banks at the same time and needed to ensure roll-out was seamless and synchronised with all banks to minimise disruption to transactions.
Solution and Implementation
A host-to-host service was used to connect HKRI’s SAP to Standard Chartered’s Straight2Bank platform. This covered payment types such as BT, RTGS, ACH, TT, LBC, and IBFT, and provided improved visibility via a consolidated view of the 40 entities and over 40 bank accounts that HKRI uses.
To ensure smooth implementation, Standard Chartered’s Transaction Banking Global Implementation team proactively engaged HKRI’s SAP team to address project deliverables and technical topics, and provided visibility and transparency of milestones. These contributed to an earlier than expected completion of the project. In addition, the Implementation team identified new opportunities of POBO and Direct Debit Collection services that would help streamline HKRI’s operations and drive efficiencies.
This is testament to the differentiated service and experience our clients enjoy with the Implementation team at Standard Chartered.Arlene GanGlobal Head, Global Implementation, Transaction Banking, Standard Chartered
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