Bangladesh’s first private sector bank, AB Bank Limited, will use RemitONE’s pioneering remittance management system, the R1 MTMS, to manage their global remittance operation. Founded in 1982, AB Bank have over 80 branches across various business centres in Bangladesh and a foreign office in Mumbai, India. They also have established a wholly owned subsidiary finance company in Hong Kong and have correspondent relationships with over 220 international banks across 58 countries.

AB Bank were seeking a trusted brand in the remittance industry to provide them with an end to end remittance platform that will enable them to create, manage and pay out remittance transactions in a seamless and automated manner across global corridors. Currently, AB Bank accept remittances from many third party exchange houses across the globe for which AB Bank pay out using their delivery network in Bangladesh. Hence, they wanted to use a robust remittance system as a repository to manage transaction delivery in an automated and efficient manner. They evaluated several vendors and chose RemitONE because of the credibility and proven success of its systems worldwide.

AB Bank are a forward-thinking financial services provider and so another reason they chose RemitONE was for its expertise in developing online and mobile remittance technologies, both of which AB Bank plan to offer to their customers in the very near future.

RemitONE is a leading provider of complete web-based, end-to-end, multi-agent, multi-currency, multi-corridor money transfer management solutions for banks, money service businesses and other organisations. Its multi-channel solutions enable organisations to run their money transfer operations in a seamless and successful manner. RemitONE’s various money transfer platforms empower its clients’ customers to send and receive money via Agents, ATMs, Mobile Phones, POS terminals, Prepaid Cards and the Web.