BRAC Bank, a major private commercial bank in Bangladesh, has launched a new digital trade finance platform with Finastra and Conpend, aiming to streamline corporate transactions and improve operational efficiency.
The platform combines Finastra’s Trade Innovation and Corporate Channels with Conpend’s Trade AI technology, bringing previously fragmented processes into a unified digital system. BRAC Bank expects the deployment to increase straight-through processing rates and give corporate customers and employees greater visibility across the trade finance lifecycle.
The modernisation comes as rising trade volumes and changing customer expectations place greater demands on banks’ operational infrastructure. By consolidating its processes, BRAC Bank aims to improve efficiency while establishing a scalable foundation for future growth.
The platform is designed to accelerate the introduction of new services and help the bank respond to evolving industry standards, including ISO 20022 and Swift SR2026. Corporate customers can use a single channel to submit requests, collaborate securely, approve transactions and track their progress in real time.
The system is also intended to give corporate clients greater control over their transactions while maintaining governance standards. Its open, scalable architecture will allow BRAC Bank to introduce additional capabilities, accommodate higher transaction volumes and adopt new technologies as its requirements evolve.
Finastra supplies software to financial institutions across more than 100 countries, supporting areas including payments, lending and loan servicing. The company is backed by Vista Equity Partners.
BRAC Bank is listed on the Dhaka Stock Exchange under the ticker BRACBANK. The platform launch builds on an existing relationship with Finastra focused on improving the efficiency and transparency of trade services, forming part of the bank’s wider digital transformation strategy.
BRAC Bank managing director & CEO Tareq Refat Ullah Khan said, “This implementation marks an important milestone in our trade finance transformation. By digitizing and streamlining trade operations, we are enhancing transparency, control and efficiency across the trade finance lifecycle, enabling us to serve our corporate clients with greater speed and reliability. This advanced trade solutions brings us closer to our ambition of becoming the most preferred trade bank in Bangladesh by consistently delivering superior value to our customers.”
Finastra EVP for lending Andrew Bateman added, “As trade finance continues to play a vital role in supporting businesses and economic growth, banks are seeking technology that simplifies operations while delivering a better customer experience. We’re delighted to support BRAC Bank on its transformation journey. Through our front-to-back trade finance capabilities, the bank has established a modern and scalable platform that increases operational efficiency, enhances visibility across the trade lifecycle, and delivers a more connected experience for its corporate customers.”
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Source: fintech.global
