IPDC Finance, an unconventional non-bank financial institution, has won Fintech Innovation of The Year (NBFI) award in the Bangladesh Fintech Award.
The category represents the most innovative uses of technology that have a significant impact on product and service dimensions of non-bank financial institutions.
IPDC Finance Additional Managing Director Rizwan Dawood Shams and Head of Strategic Initiative M Solaiman Sarwar received the award at a function held at a Dhaka hotel on Saturday, read a press release.
The NBFI’s Dana provides easy, accessible, transaction-based working capital for retailers to facilitate financing in a low-cost, collateral-free, and structured manner. This automation of credit processes in a much-needed initiative to help the vast network of micro and small retailers across the country.
IPDC Finance Managing Director Mominul Islam said, “For any industry, the key factor for success is reaching the segments of customers that remain underserved.
“With majority of the micro-merchants being underbanked or unbanked, IPDC found its ground for a timely technological innovation. Retailers from remote areas who were out of the financial inclusion are given access to finance under the DANA platform to enrich their business,” he added.