STANBIC Bank, one of the leading Banks in Zimbabwe, has unveiled an innovative financial solution called “Host to Host” for its corporate clients in Zimbabwe. The bank said the ground-breaking approach is a response to the desire to meet specific needs of clients by providing a service that is “fit for purpose”.
Host To Host banking service bring end to end transacting in a single system. If you have substantial volumes then Host To Host banking service could reduce cost for corporate account holders, while being more secure and efficient.
“Host to Host is an automated, two-way data transfer service for high volume online banking usage. The service gives you direct access to Business Online from various business applications, 24 hours a day.” said the bank.
“The system works in such a way that once the client accesses their Enterprise Resource Planning (ERP), they will start transmitting payment instructions to the bank, which will be processed immediately. Thereafter, the client is able to get periodic updates into their ERP on transactional activity on their accounts.” Stanbic added.
One the key futures that Techunzipped noticed, is the ability to integrate with data into SAP, Oracle, BAAN, JD Edwards and other systems. As the market is moving and the banking environment is changing, tools to enabled easy banking should be available. This in turn will reduce cost and time to market for larger corporates, but also open up the benefits of host-to-host channel banking to smaller corporate clients.
