LankaBangla, Dana team up to launch digital financial services

Published : 28 Nov 2022 08:20 PM

LankaBangla Finance Limited signed an agreement with Dana Fintech, an embedded finance fintech, to launch one-stop Digital Financial Service (DFS) platform for CMSMEs and retail customers.

Managing Director and Chief Executive Officer of LankaBangla Finance Khwaja Shahriar and Co-founder and Chief Executive Officer of Dana Fintech Gazi Yar Mohammed, signed the agreement at LBF’s Head Office recently.

Head of Retail Business Khurshed Alam; Head of ICT Sheik Mohammad Fuad; Head of Small Business Md Nurul Islam; Head of Retail Credit Arif Hasan; Head of Brand & Marketing Md Raziuddin of LBFL and on behalf of Dana Fintech, Co-founder and Chief Operating Officer Zia Hassan Siddique, Head-Strategic Partnership Syed M Hassan Faruque and other senior officials of both organisations were present at the event.

Under this partnership, LankaBangla will extend digital deposit, BNPL, Credit Card by digitalonboarding and digital loans to underserved CMSMEs and retail customer to leveraging Dana’s lending infrastructure covering credit scoring API, digital underwriting, BNPL engine and earned wage platform.

LankaBangla will also finance users and merchants of Dana network partners like digital marketplaces and digital wallets.

This DFS platform will ensure faster digital onboarding of the users from multiple acquisition channels and delivery of the services without any paperwork. The entire lending process will be completely digitised, from application to disbursement and repayment.