Prime Bank to Provide Cash Management Services to SMC Enterprise

Prime Bank PLC has entered into a strategic partnership with SMC Enterprise Limited (SMC EL) to deliver an integrated cash management solution designed to streamline the company’s nationwide financial operations. The initiative aims to bolster efficiency, reduce operational friction, and enhance the transparency of SMC EL’s payment and collection processes.

The agreement was formally signed by Hasan O. Rashid, Chief Executive Officer of Prime Bank, and Saif Nasir, Managing Director of SMC EL. Senior representatives from both organisations were also present at the signing ceremony.

Under this collaboration, SMC EL will adopt Prime Bank’s state-of-the-art omni-digital cash management platform, PrimePay, which is engineered to support large corporate entities in managing complex financial workflows. The platform will be used for nationwide sales collections, real-time and scheduled payments, and end-to-end internal disbursement management.

PrimePay integrates a range of digital financial services, including RTGS, BEFTN, intra-bank fund transfers, mobile wallet transactions, and the issuance of digitally signed corporate cheques and pay orders. These capabilities are expected to significantly expedite authorisation processes while reducing the turnaround time for transactional approvals.

Prime Bank noted that the adoption of PrimePay will help SMC EL achieve measurable gains in efficiency by simplifying administrative tasks, reducing manual interventions, and improving oversight. The platform’s robust two-factor authentication and secure web-based interface will allow authorised SMC EL personnel to access and manage financial operations remotely with speed and reliability.

Enhanced MIS reporting, improved reconciliation, and greater transparency across financial workflows are also expected outcomes of the digital upgrade.

Both organisations expressed confidence that the partnership will support SMC EL’s continued growth while reinforcing Prime Bank’s position as a leading provider of digital banking solutions in Bangladesh’s corporate sector.