DHAKA: A subsidiary of First Global Data Limited, F1Soft International, signed a tri-party agreement with Bangladesh Commerce Bank and Hypertag Solutions Ltd to provide with mobile money, domestic and international remittance software.
Hypertag is F1Soft’s local Bangladesh partner and will be assisting F1Soft and the Corporation in the implementation of the Transborder System.
The Agreement will enable the Bangladesh Commerce Bank to utilize the Transborder System to offer online and real-time mobile money services.
In addition, the Transborder System will also connect the Bank to international money transfer system and exchange houses in approximately 150 countries thus enabling the Bank to offer domestic and international money remittance services.
The signing ceremony was held at the Bank’s head office in Dhaka, Bangladesh which was attended by Mr Pankaj Kumar, Chief Marketing Officer of F1Soft, Dr Mohammad Assaduzzaman, Managing Director of BCB, SM Jahangir Akhter, Executive Vice President of the Bank, and Mr, Shofiul Alam, Managing Director of Hypertag.
Chief Marketing Officer of F1Soft Pankaj Kumar said, “The remittance market in Bangladesh has witnessed an exponential growth and migrants are accepting this new mobile money channel for sending money back to their home.”
He also said that F1Soft’s capabilities in handling mobile money remittance and payout locations of BD Commerce will provide a totally new platform to receive remittance in Bangladesh.
Executive Vice President of Bangladesh Commerce Bank Ltd SM Jahangir Akhter said, “The tie-up with F1Soft will provide an opportunity to extend our services to the Bangladeshi community living abroad by meeting their banking and remittance requirements.”
According to the World Bank Migration and Remittances Factbook, 2011, remittances into Bangladesh were estimated to exceed US $11 Billion.
The Corporation’s Transborder System will enable the Bank to serve both domestic transactions and to establish a distribution network for inbound international transactions in Bangladesh.
Source: wsj.com
BDST: 0015 HRS, SEP 20, 2013
SR/SRS
