BRAC Bank has signed an agreement with Frobel Academy to support collection of tuition fees and payment needs through its banking channels, said a press release.
BRAC Bank deputy managing director and corporate banking head Tareq Refat Ullah Khan and Frobel Academy director Sabeen Aameir signed the agreement on behalf of their respective organisations.
Frobel Academy is an English medium school based in Chattogram city and offers students education following the Cambridge International Primary Curriculum from grade one onwards.
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 and the mobile app ‘Astha’, among other things.
The school will also use CORPnet, BRAC Bank’s 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.
— New Age
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