Implementation at the Bangladeshi Bank produced 100% digital transaction growth and 36% manual to digital conversion
DUBAI, UAE, Jan. 10, 2022 /PRNewswire/ — Clayfin Technologies, a leading customer experience focused digital solutions provider for financial institutions, and BRAC Bank, have been awarded the ‘Best Digital Channel/Platform Implementation Award – Most Impactful Platform’ at IBSi Global FinTech Innovation Awards 2021.
The award has been given in recognition of the collaborative implementation of BRAC Bank’s new digital platform called ‘Astha’. Mobile Banking App ‘Astha’ comprises of a wide spectrum of digital services and engagement tools in retail banking. This is a prime example of digital infrastructure overhaul targeting superior customer experience, higher adoption rates and market impact. In less than a year of going live, Astha has made a significant impact adding 30% on digital customer growth, 100% in digital transaction volumes and 36% conversion from manual transactions to digital channel.
Recognizing the impactful solution implementation, Robin Amlôt, Managing Editor of IBS Intelligence, said, “I am thrilled to announce Clayfin Technologies along with BRAC Bank Limited as winners of the Most Impactful Project Award part of the Best Digital Channel/Platform Implementation category at the 3rd edition of the IBS Intelligence Global FinTech Innovation Awards 2021. The solution was highly impactful and resulted in an astounding 100% growth in digital transactions. Congratulations to the duo.”
On the occasion, Md. Sabbir Hossain, DMD and COO of BRAC Bank, said, “We are immensely honoured to have received this international award. The new Astha digital platform is part of our strategic digital system overhaul for delightful and convenient banking experience for the customers. Over a short period of time, the implementation of the app with the tagline ‘Bank Smart’ has helped us achieve a significant impact on our customer base. The award will help us launch more digital initiatives to take customer experience to newer heights.”
Rajesh BLN, CEO of Clayfin added, “We are proud and thankful to receive this award with BRAC Bank. Astha platform for BRAC Bank is functionally rich, intuitive, easy to use, safe and secure. For BRAC Bank, this is just the beginning of a journey. Through its digital initiatives, BRAC Bank will stay ahead of times, and will keep impacting the lives of more and more customers.”
About IBSi Global FinTech Innovation Awards 2021
IBS Intelligence is a pure-play Financial Technology focused research, advisory, and news analysis firm, with a 30-year track record and clients globally. The third edition IBSi Global FinTech Innovation Awards attracted global attention with over 190 participants from 48 countries.
About BRAC Bank
BRAC Bank Limited traded as ‘BRACBANK‘ on Dhaka Stock Exchange has been one of the country’s fastest-growing banks in Bangladesh with a particular focus on the small and medium enterprise (SME) segment.
Taking inspiration from its parent organization BRAC, the largest NGO in the world, it focused on Small and Medium Enterprises. Based out of Dhaka, the bank offers SME Banking, Retail Banking, Wholesale Banking & Custodial Service, Treasury and Foreign Exchange & Related Services through 187 branches, 650 Agent Banking Outlets and digital channels. With more than 1.1 million customers, the bank has already proved to be the largest collateral-free SME financier in just 20 years of its operation in Bangladesh and continues to serve as a benchmark for governance, transparency and compliance in the banking sector.
Clayfin is a leading provider of Digital Customer Experience solutions for Banks and Financial institutions. Clayfin works across geographies, and currently supports 80+ implementations across 30+ customers in APAC, Middle East and Africa.
Mr. Jishith Gangadharan