BRAC Bank to reduce loan processing time

BRAC Bank has recently signed a software license agreement with India’s Veefin Solutions Private Limited to implement Loan Origination System (LOS) which will reduce loan processing time.

This collaboration will enable the bank to develop a module for automating its SME and retail lending operations and significantly reduce the processing time for faster disbursements, the bank said in a statement.

BRAC Bank Deputy Managing Director & Chief Operating Officer

(COO) Sabbir Hossain and Veefin Solutions Private Limited Director Raja Debnath signed the agreement at the bank’s head office in the capital on November 28.