Eastern Bank PLC (EBL), one of Bangladesh’s leading private commercial banks, has entered into a strategic partnership with Spectrum Software and Consulting (Pvt.) Ltd. (SSCL) to implement OptiFin, a cutting-edge Supply Chain Finance (SCF) solution developed by SSCL. The agreement was formalised on 23 November at EBL’s head office in Dhaka.
The memorandum was signed by Riad Mahmud Chowdhury, Deputy Managing Director and Head of Corporate Banking at EBL, and Mushfiqur Rahman, Managing Director and CEO of SSCL, in the presence of senior officials from both organisations. From EBL, attendees included Mohammad Mainul Hasan Faisal, Zaed Bin Hassan, and Sanjit Dutta, while SSCL was represented by Dr. Faizul Bari, Farhanur Rahman, Md. Rokonuzzaman, and Monjur Ahamed.
Speaking at the ceremony, Riad Mahmud Chowdhury highlighted the transformative potential of the collaboration. He noted that SSCL’s advanced technology platform will significantly enhance EBL’s Supply Chain Finance capabilities, enabling the bank to offer its corporate clients greater efficiency, speed, and flexibility in managing working capital. “This partnership will empower businesses to optimise their supply chains and improve liquidity management,” he added.
Mushfiqur Rahman expressed his appreciation for EBL’s confidence in locally developed FinTech innovations. He cited SSCL’s portfolio of cutting-edge solutions, including Trade Finance Automation, Unified Data Center Monitoring (NMS), and AI-powered Central Bank Reporting tools, all of which have been designed and developed by Bangladeshi talent. Rahman emphasised that these solutions not only meet global standards but also enhance the competitiveness of domestic financial institutions on the international stage.
The collaboration between EBL and SSCL is poised to strengthen the supply chain finance ecosystem in Bangladesh. By leveraging OptiFin’s sophisticated technology, businesses will be able to streamline financial operations, improve transparency, and access more flexible funding solutions, thereby contributing to overall economic efficiency.
Key Objectives of the Partnership:
| Objective | Expected Impact |
|---|---|
| Implement OptiFin SCF solution | Enhance supply chain efficiency and liquidity |
| Leverage AI and automation tools | Improve accuracy in trade finance and regulatory reporting |
| Promote locally developed FinTech solutions | Strengthen Bangladesh’s FinTech sector and global competitiveness |
| Expand corporate client services | Provide flexible and faster financing options |
This alliance underscores a growing trend in Bangladesh, where banks are increasingly adopting innovative, technology-driven solutions to address the evolving needs of corporate clients and reinforce their role in the digital economy.