Standard Chartered Sri Lanka announced the implementation of its latest interbank instant payment Application Programming Interface (API) for PickMe, a brand of Digital Mobility Solutions Lanka (Private) Limited, with a seamless payment solution to streamline collections.
Digital Mobility Solutions Lanka (Pvt) Ltd is a software development company that specialises in providing mobility solutions via the PickMe app that facilitates instant ride hailing. Aside from ride hailing, the app also hosts PickMe Food and PickMe Market, which enables customers to order their food and essentials and get them delivered in record time. The app’s exclusive corporate solutions that facilitate on demand transport have been on high demand as a result of companies working round the clock but has lacked a banking solution to streamline receivables.
Standard Chartered, which had earlier implemented the country’s first ever interbank instant payment API connectivity solution for PickMe driver partner payments, stepped up to address the company’s latest need for speed. The solution consists of sending notifications on receivables 24×7 via API connectivity directly to the back-end system of PickMe. The fully digitised service also allows creating virtual accounts for Digital Mobility Solutions’ corporate accounts through Standard Chartered’s internet banking channel, Straight2Bank.
Commenting on the Bank’s ability to offer tailored solutions for unique client needs was Roger Norton, Head of Transaction Banking of Standard Chartered Sri Lanka. “We’re proud that our team at Standard Chartered was able to build a robust API-driven solution for PickMe that seamlessly integrates with their corporate wallets. It has been a truly rewarding experience partnering with the Digital Mobility Solutions team on Sri Lanka’s next level of payments and collection solutions powered by our market-leading API capabilities. We look forward to extending our proven API-driven transaction banking capabilities across our valued corporate clientele where similar requirements for speed and transparency are desired.”
“As one of the pioneering mobile ride-hailing apps in Sri Lanka, we at PickMe, consider agility, efficiency and being relevant to the needs of our customers as our high priorities. We are constantly exploring opportunities for improvement and bespoke solutions to add value to both our customers and rider partners. This latest API system built by Standard Chartered further enhances our capacity to not only streamline our collection, but also to benefit all our stakeholders through this fully digitised process,” said Maduranga Kulathilaka, Chief Financial Officer of PickMe, on the latest API solution from Standard Chartered.
Project lead and Director, Head of Global Implementation, Transaction Banking of Standard Chartered Sri Lanka, Devaka Wijedoru said, “We are delighted to be able to offer this value addition to PickMe for their receivables through our API banking platform. Our solution will allow PickMe to instantly receive payments from loyal corporate clients on a real-time basis, providing PickMe with an instant information flow and auto reconciliation of their receivables, 24/7. We truly value our partnership with PickMe and appreciate their collaboration in achieving this milestone”.
The solution offered by Standard Chartered will increase the efficiency on receivable reconciliations with zero dependency on human intervention. With seamless receivable updates and an enriched fulfilment process feeding status updates via the API connectivity in real-time, Digital Mobility Solutions will be able to produce management information pertaining to their receivables allowing more timely decisions towards optimising their cash flow.