Standard Chartered Pakistan and Haier Pakistan

Standard Chartered Pakistan and Haier Pakistan have recently collaborated to revolutionize Haier’s value-chain through a strategic digital transformation, aimed at enhancing operational efficiency and cash flow optimization.

In a significant move away from traditional paper-based payments, Standard Chartered will introduce a virtual account solution for Haier Pakistan’s 1300 dealers. This transformation will empower dealers to conduct real-time digital payments around the clock. Additionally, the bank is providing an API-based service for instant collection notifications, allowing Haier to promptly release appliances to dealers upon payment and facilitating dealers to immediately access incentives for early payments.

The signing ceremony witnessed the presence of key figures, including Shiraz Hyder and Ali Haider Zaidi from Standard Chartered Pakistan, and Feng Xianfa, Zhang Hao, and Mohammad Faraz Khan from Haier Pakistan.

Arslan Nayeem, Head of Client Coverage – Corporate Commercial and Institutional Banking at Standard Chartered Pakistan, emphasized the commitment to elevate industry standards and collaborate closely with clients for future business models. Nayeem stated, “We continue to invest in our digital platforms, providing smart solutions to address real-time challenges, aligning with our global commitment to be Here for Good.”

Feng Xianfa, CEO of Haier Pakistan, expressed gratitude to Standard Chartered Pakistan for the support and the exceptional digital-banking platform. The ‘Virtual Account for Collection’ (VAC) solution, coupled with the Credit notification API for real-time reconciliation, enables Haier Pakistan to promptly realize receivables. This digital receivables solution is expected to optimize financial resources and enhance overall operational efficiency for Haier Pakistan.