Lankan Alliance Finance Limited (LAFL), the subsidiary of the largest state-owned bank of Sri Lanka, has recently awarded Era InfoTech Ltd for developing its core non-bank financial institution (NBFI) solution platform at the LAFL corporate office in Gulshan, Dhaka.
The platform is expected to be ready by the end of March 2021, read a press release.
"Considering the new normal and enabling LAFL's esteemed clients to access all our services both securely and remotely, we have awarded Era InfoTech, Bangladesh's best service provider in this category, to implement this advanced digital financial solution," said Jowher Rizvi, chairman of LAFL.
The signing ceremony was also attended by the chief operating officer of LAFL, marketing head and chief technology officer of Era InfoTech.
Kanti Kumar Saha, CEO of LAFL and Md Serajul Islam FCMA, CEO of Era InfoTech signed the agreement on behalf of their respective companies.
Established in 2018, Lankan Alliance Finance is a joint venture non-banking financial institution (NBFI) with multinational collaboration, licensed by the Bangladesh Bank. The majority stakeholder of Lankan Alliance Finance is a subsidiary of Peoples' Bank, Sri Lanka's largest state-owned bank.
In 2002, Era-InfoTech Ltd was established as a joint venture IT company formed by Bank Asia Ltd, Ranks ITT Ltd and Sash Tech SG Pte Ltd. It has a large team of internationally certified software professionals with knowledge in Oracle, Microsoft, Java, etc.