BRAC Bank has won the IBS Intelligence Global Fintech Innovation Awards 2023 for implementing Loan Origination System for SME customers.
The international accolade has been conferred to BRAC Bank in the category of ‘Best Digital Lending & Collections Implementation’ along with Veefin Solutions Private Limited, the software company that implemented the solutions.
Syed Abdul Momen, Deputy Managing Director & Head of SME Banking, BRAC Bank, formally received the award at the IBS Intelligence Global Fintech Innovation Awards 2023 ceremony in Mumbai, India, on Friday.
Headquartered in the UK, IBS Intelligence is the leading global financial technology research, news analysis, and advisory firm, which honours industry players for excellence and innovation in banking and finance with annual awards.
As a result of the Loan Origination System e-LAP’s sophisticated end-to-end digital capabilities, BRAC Bank can disburse loans faster and smoother, bringing more productivity and efficiency to the SME ecosystem.
The solution will fast-track financing with digital tools, immensely benefiting the SMEs, especially at the grassroots level, thus creating customer delight and convenience.
Commenting on the prestigious award, Selim R. F. Hussain, Managing Director & CEO of BRAC Bank, said: “As an SME-focused bank, BRAC Bank always strives to cater to the evolving needs of the SME business owners. With long experience in SMEs, we understand that SMEs need faster loan disbursement to meet business requirements.”