BRAC Bank, Samuda Edible Oil partner for digital cash management solutions
BRAC Bank has partnered with Samuda Edible Oil Ltd to strengthen the company’s cash management operations through digital collection and payment solutions.Through the partnership, Samuda Edible Oil will use BRAC Bank’s Virtual Account Management (VAM) solution to facilitate collections and automate reconciliation. The solution will enable greater visibility over incoming funds, reduce manual reconciliation and support faster processing of customer orders.Samuda Edible Oil will also use BRAC Bank’s corporate digital banking platform, CORPNET, to initiate domestic payments electronically, including utility and statutory payments. The platform will enable the company to manage its day-to-day payment requirements through a secure digital channel.Md. Asif Bin Idrish, Deputy Managing...