BRAC Bank has launched eSingature Solution for its procurement function, enhancing transparency and security of its outsourcing works.
It is the first bank to launch eSingature in this field, said a press release.
The new system will ensure overall security by introducing digital signatures in work order ensuring genuineness, reliability and confidentiality. It will reduce financial risk by dealing with the scope of counterfeiting work orders.
From now on, all work order/purchase orders issued from BRAC Bank will have eSingature embedded in them to ensure verifiability of the work order and further streamline the bank’s procurement function.
BRAC Bank intends to achieve holistic end-to-end e-procurement, thus realising goals in innovation across its value chain anchored on developing more effective win-win relationships between the bank and its vendor partners.