BRAC Bank teams up with India’s Veefin Solutions to reduce loan processing time

BRAC Bank has recently signed a Software License Agreement with Veefin Solutions Private Limited (India) to implement Loan Origination System (LOS).

Md Sabbir Hossain, deputy managing director & chief operating officer (COO), BRAC Bank Limited, and Raja Debnath, director, Veefin Solutions Private Limited, signed the agreement at the bank's Head Office in Dhaka on November 28, 2021, reads a press release.

This collaboration will enable the bank to develop a module for automating its SME and Retail lending operations and significantly reduce the processing time for faster disbursements.

As BRAC Bank has an extensive reach and wide customer base in SME and Retail segments, the system expected to greatly benefit the customers across the country.

Syed Abdul Momen, deputy managing director & head of SME Banking, and Md Mahiul Islam, head of Retail Banking, BRAC Bank, were also present.