BRAC Bank and Nucleus Software win IBS Intelligence Global FinTech Innovation Awards

Nucleus Software, a provider of lending and transaction banking solutions to the global financial services industry, on 23 March, announced winning the "Best Implementation in Transaction Banking" Award by IBS Intelligence Global FinTech Innovation Awards 2022, for an Innovative Transaction Banking solution implementation.

The award recognized the rapid implementation of Nucleus Software's Supply Chain Financing solution from their Transaction Banking Suite FinnAxia™ at BRAC Bank designed to support the bank's strategy of venturing into the supply chain financing market to provide seamless solutions for all its end customer offerings, a press release reads.

As a result of the solution's sophisticated end-to-end digital capabilities, BRAC Bank can onboard customers faster and service in 4 minutes and 52 seconds enabling quicker customer activation, according to the release.

FinnAxia™ is a completely automated and paperless solution which enables the Banks customers to operate in a hassle-free environment.

Selim R. F. Hussain, Managing Director & CEO of BRAC Bank, said: "As an SME-focused bank, BRAC Bank always strives to cater to the evolving needs of the grassroots SME business owners. Aligned with the mission, with our new Supply Chain Finance solution developed by Nucleus Software, we will be able to help businesses keep pace with a competitive and fast-changing business landscape through seamless and faster

financing support. The solution will fast-track financing with digital tools, immensely benefiting SMEs. At BRAC Bank, the solution will ensure faster service delivery and enhance efficiency and productivity and expand outreach. We are immensely honoured to have received this international award jointly with Nucleus Software. We will continue to adopt best-in-class technology to serve our customers better."

Parag Bhise, Chief Executive Officer of Nucleus Software, added "We are honoured to work with BRAC Bank and to support their visionary approach to digitization. We are extremely delighted to receive this prestigious award alongside BRAC Bank and to be recognized for our pioneering work and our efforts in Transaction Banking. We look forward to continuing to assist BRAC Bank as they expand its business and explore new ways to stay ahead of the competition."