Bangladesh-based BRAC Bank has gone live with Finastra's flagship trade finance system, Trade Innovation, and Corporate Channels. The bank has also deployed Conpend’s Trade AI orchestration solution.
Finastra says the new platform “provides BRAC Bank with an integrated foundation for modern trade finance operations”.
Among the benefits are greater straight-through processing (STP) and support for the ISO 20022 and Swift SR2026 standards.
BRAC Bank’s corporate clients now have “a single channel to initiate requests, collaborate securely, approve transactions, and track progress in real time”, Finastra says.
“This implementation marks an important milestone in our trade finance transformation,” comments Tareq Refat Ullah Khan, the bank’s managing director and CEO.
“By digitising 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.”
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