LankaBangla to launch one-stop Digital Financial Service platform

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

Managing Director and CEO of LankaBangla Finance Khwaja Shahriar and Co-founder and CEO of Dana Fintech Gazi Yar Mohammed signed the agreement at LankaBangla's Head Office recently.

Under this partnership, LankaBangla will extend digital deposit, BNPL, Credit Card by digital onboarding and digital loans to underserved CMSMEs and retail customers 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 digitized, from application to disbursement and repayment.

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 from Dana Fintech, Co-founder & COO Zia Hassan Siddique, Head-Strategic Partnership Syed M Hassan Faruque and other senior officials were present at the signing ceremony.