Stanchart outdoors innovative cash management product
The High Street Journal in a front page story, says the Standard Chartered Bank Ghana Limited (Stanchart), has introduced a corporate banking product, the Domestic Payments system (DPS), to lighten the cash management burden of its clients.
The paper says the new product is an electronic banking product system which works by customers down-loading their accounts payable into an diskette which is forwarded to the bank.
The essence of the product, the High Street Journal says, is that the bank takes up responsibility of customers? creditors, either by delivering bank cheques to them or paying into their accounts in other banks. According to Stanchart, the new system which is safeguarded by high security controls, also has the advantage of cost and time saving.
