HSBC, Brac to drive digital transformation in microfinance sector

Business Desk :
The Hongkong and Shanghai Banking Corporation Limited (HSBC) in Bangladesh recently entered into a transformative partnership with Brac, the trailblazer in the microfinance industry.
The signing ceremony, held at Brac Centre in Dhaka recently, marks a significant step towards digitizing Brac’s collection and disbursement processes for greater efficiency.
The signing ceremony witnessed Gerard Haughey, country head of Wholesale Banking at HSBC Bangladesh, and Arinjoy Dhar, senior director of Microfinance signing the agreement on behalf of their respective organizations.
Officials from HSBC Bangladesh and senior representatives from Brac attended, underscoring the collective commitment to drive digital innovation in microfinance.
This pioneering collaboration revolutionizes cash management in Bangladesh’s microfinance landscape.
Leveraging HSBC’s cutting-edge solutions, Brac aims to streamline the retrieval of loan payments on a substantial scale.