As part of this agreement, IFIC will upgrade its retail offering with Finastra’s FusionBanking Essence Online and Mobile to deliver digital services to locals, disrupting the Bangladesh and Nepal banking. The bank will also roll out FusionBanking Insight to access data and analytics, enabling it to segment clients based on needs, and respond accordingly.
Despite the large number of banks in Bangladesh, a significant part of the economy is underbanked. The Finastra platform will provide features that surpass this situation, including online savings and small loans, helping the bank to attract new customers and reach untapped segments of the market.
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