Prime Bank offers cash management services to SMC Enterprise

Prime Bank PLC has signed a cash management services agreement with SMC Enterprise Limited.

Hassan O Rashid, chief executive officer of Prime Bank PLC, and Sayef Nasir, managing director of SMC Enterprise Limited, signed the agreement at the bank's corporate office in Dhaka recently, according to a press release.

Under the agreement, SMC Enterprise will avail comprehensive cash management solutions from Prime Bank.

The company will use PrimePay, the bank's omni digital platform, to initiate all types of domestic disbursements and manage nationwide sales collections through Prime Bank's extensive branch network.

The arrangement also includes a robust MIS reporting and reconciliation system to enhance efficiency and transparency.

PrimePay enables corporate clients to initiate various types of payments with ease while maintaining the highest standards of security.

This omni digital channel supports both electronic and paper-based transactions, including RTGS, BEFTN, intra-bank fund transfers, NPSB, and MFS wallet transfers, as well as the issuance of corporate cheques and pay orders with digital signatures.

Additionally, clients can make duty, tax, VAT, and utility payments directly through PrimePay.

With its seamless authorisation process, PrimePay ensures faster turnaround times, reduced operational costs, and greater transparency.

The platform is secured with advanced two-factor authentication and offers flexible access anytime, anywhere through web-based connectivity, the release added.