BRAC Bank partners with Transcom group for advanced cash management solutions

BRAC Bank PLC has formed a strategic partnership with Transcom Distribution Company Limited and Transcom Consumer Products Ltd., subsidiaries of the esteemed Transcom Group, to deliver comprehensive cash management services tailored to enhance their financial operations.

This partnership enables Transcom companies to leverage BRAC Bank's extensive transaction banking capabilities, including streamlined collection, payment, and reconciliation solutions. With access to BRAC Bank's vast distribution network—comprising 187 branches, 59 sub-branches, and 1,115 Agent Banking Outlets across Bangladesh—Transcom can efficiently manage receivables beyond standard banking hours, including holidays. Additionally, Transcom companies will utilise CORPnet, BRAC Bank's internet banking platform, for 24/7 payment processing.

The agreement was signed in Dhaka on November 12, 2024, by Tareq Refat Ullah Khan, Deputy Managing Director and Head of Corporate & Institutional Banking at BRAC Bank, Md. Kamrul Hassan, Group Chief Financial Officer, and Abdullah Al Mamun, Director of corporate Finance, jointly from Transcom Group, alongside senior representatives from both organisations.

This collaboration highlights BRAC Bank's leadership in transaction banking, combining innovative technology with client-focused solutions to meet evolving business needs.