Standard Chartered Bank (China) Limited have launched “Universal Adaptor“ – an online tool that allows their corporate clients to define their own file templates or use pre-defined ones, and send transaction messages to the Bank through the bank’s Straight2Bank Access (host-to-host ) and Straight2Bank Web channels . The online solution significantly reduces cost, time and resources by allowing them to use the file format of their choice to integrate with the bank.
Walsin (China) Investment Co., established its ERP system in Taiwan, and faced a critical challenge – its proprietary file format and its usage of Traditional Chinese characters in payment instructions were not be accepted by the bank in mainland China. As a result, the payment instructions were processed manually, including thousands of payments from 20 entities, which added significant cost and delays to the organisation.
In May 2013, Walsin signed up for Standard Chartered Bank’s Straight2Bank Access with Universal Adaptor which allowed Walsin to retain its proprietary payment format, which was in Traditional Chinese, from its ERP system, and automatically converted Traditional Chinese into Simplified Chinese, the only language accepted by China National Automatic Payment System.