BRAC Bank signs cash management deal with Walton Digi-Tech Industries

BRAC Bank PLC has entered into a strategic partnership agreement with Walton Digi-Tech Industries Limited, a domestic manufacturer of electrical and electronic products, to deliver advanced cash management solutions.

According to a press release issued by the bank, the collaboration is designed to streamline Walton's working capital management and enhance the efficiency of its financial operations.

AKM Faisal Halim, head of transaction banking of the bank, and Md Liakat Ali, additional managing director of the electrical and electronics manufacturer, signed the agreement at the company's corporate office in Dhaka recently.

As part of the arrangement, BRAC Bank will provide a bespoke digital payment solution that enables Walton to initiate transactions directly via its corporate internet banking platform, CORPnet.

This innovation eliminates the need for manual input through the CORPnet Maker module, thereby reducing the risk of human error and ensuring secure, real-time data integration.

In addition, Walton will benefit from real-time visibility of its accounts, facilitating faster financial decision-making, automated reconciliation, and improved operational efficiency from transaction processing to product delivery.