BRAC Bank has signed an agreement with Frobel Academy to support the collection of tuition fees and payment needs through its banking channels.
Tareq Refat Ullah Khan, DMD and Head of Corporate Banking, BRAC Bank, and Sabeen Aameir, Director, Frobel Academy, signed the agreement on behalf of their respective organizations, said a press release.Frobel Academy, an English medium school, was inaugurated in Chattogram city. Frobel Academy offers its students Cambridge International Primary Curriculum from class one onwards. With global partners in India, and expanding rapidly beyond, Frobel Academy delivers an excellent international schooling experience for their students.
The agreement will enable BRAC Bank, through its own digital and physical channels, to collect tuition fees and payments on behalf of Frobel Academy across the country.
Frobel Academy is the first educational institution to avail all of BRAC Bank’s digital channels for their collections, including Direct Debit (to pull funds from other banks’ accounts), Recurring Bill Collection (to pull funds from BRAC Bank Accounts and Cards), Payment Gateway, the mobile app ‘Astha’ etc.
The school will also use CORPnet, BRAC Bank’s unique corporate payment solution, for making various digital payments to its stakeholders.
This is the first-ever comprehensive deal that BRAC Bank has signed with an educational institute for transaction banking services with a focus on its digital channels.
BRAC Bank Limited traded as ‘BRACBANK’ on Dhaka Stock Exchange has been one of the country’s fastest growing banks since its inception in 2001 with particular focus in the SME segment.