Brac Bank launches remittance application FXPAY

Business Report :
Brac Bank has launched FXPAY, an end-to-end commercial remittance application to provide accessible, fast and secure remittance services to institutional customers.
FXPAY is a 360-degree commercial remittance system capable of performing business-to-business, business-to-consumer, consumer-to-business and consumer-to-consumer transactions in compliance with regulations, the bank said in a statement.
The system can perform automated tax, value-added tax, encashment certificate, no objection certificate, Nostro funding checking and client intimation via email or text, the bank said.
Selim RF Hussain, managing director and CEO of the bank, inaugurated the service at the bank’s head office in Dhaka.
It was launched on March 23 this year.