Revolutionizing the banking scene, Bank of Beirut has launched a new service, “the fastest and easiest Beirut Port Bill Payment Processing”. It has thus added a new milestone to its success portfolio, reinforcing its pioneering position. The new port service targets companies carrying out business through Beirut port making their operations easier and faster.
In this regard, www.BusinessEchoes.com visited Bank of Beirut headquarters, where they met with the Transaction Banking Manager at the Bank, Bassam Lteif. As per the service’s technicalities, convenience is key to the success: Once the payment is completed online, the port’s management is instantly notified to clear the merchandise.
According to Lteif, Bank of Beirut is the first Bank in Lebanon to offer companies this inventive solution and facilitate their work. It has dissected their business procedures, to finally reach a thorough and suitable solution when it comes to both payment and collection.
Electronic Signature to facilitate companies’ procedures
Bank of Beirut’s new port service is a corporate facility that targets companies whereby high level management, such as the CEO, CFO, managing partner, owner etc. – can electronically sign bills using any smart device, whether phones, tabs, laptops etc. once approval is provided by the concerned party.
It is important to note in this context that Bank of Beirut was the first to launch electronic signatures in 2011, digitizing salary payments, money transfer, etc.
Bank of Beirut’s online business transactions in general and mobile ones in particular have witnessed a remarkable increase over the past years. Agents have been progressively opting for this ingenious service, to save time and shorten distances; especially that it is an accurate and safe transaction that cannot be jeopardized.
The service grants businesses the possibility to:
• Pay A, B, C and T port bills with a click.
• Monitor transactions online
• Complete payments 24/7
• Delegate authority to an employee, while allowing the manager to validate the approval
• Save time and cost
• Instantly notify Beirut Port
• Accelerate transactions
• Issue customs checks online
Online Security Layers
Regarding cyber safety, Lteif declared that Bank of Beirut possesses the highest standards of online security, spread over 4 layers of authentication and ranging over a token, a code-issuing device that changes every 60 seconds, and an electronic signature.
This corporate original system is free of charge, as the agent only pays the transaction’s fees, which are cheaper online. Lteif noted that Bank of Beirut still holds the top rank amongst financial institutions in online payments and has thus deserved to receive reputable awards during the past three years. Online transactions have been steadily increasing to finally comprise half of all transfers.
On a final note, it is worth noting that Bank of Beirut first allowed its agents to pay their port bills in 2013 and has been developing these services ever since.