BRAC Bank PLC has recently formed a strategic partnership with MetLife Bangladesh to simplify the process of insurance premium payments for policyholders through various digital and physical banking channels. This collaboration allows MetLife customers to conveniently pay their premiums at BRAC Bank branches, sub-branches, agent banking outlets, ASTHA internet banking, payment gateways, ATMs/CDMs, and through direct debit instructions.
The integration between the two institutions is facilitated by real-time API connectivity, guaranteeing immediate payment processing, quicker reconciliation, and improved operational transparency, as stated in a press release. The agreement was officially signed by Tareq Refat Ullah Khan, the managing director and CEO of BRAC Bank PLC, and Ala Ahmad, the chief executive officer of MetLife Bangladesh, at a ceremony in Dhaka.
Khan emphasized that the partnership demonstrates BRAC Bank’s dedication to advancing digital financial solutions and promoting ecosystem interoperability. He mentioned, “By offering MetLife customers the option to pay premiums through our extensive network, we are enhancing convenience and promoting a more cashless, interconnected Bangladesh.”
Ahmad expressed the goal of expanding access to top-notch insurance benefits for a larger audience. The streamlined payment process with BRAC Bank is designed to provide enhanced convenience for customers and bolster trust in digital financial services.
The press release concluded by highlighting that this partnership signifies a significant step towards reinforcing collaboration between institutions, fostering a more interoperable and future-ready financial services landscape in Bangladesh.