FE Report

The automation of the country's banking payment and clearing system, as part of the central bank's Bangladesh Automated Clearing House (BACH) scheme is likely to induce more speed, safety and efficiency in the banking sector, speakers said at a seminar in the city Sunday.

Simultaneously, the automation of the payment system can assist the business people of the country in meeting the challenges of the 21st century, they opined at a seminar titled NCR Payment System Solutions.

Organized by Technomedia Limited, the local ICT company which has been engaged by the Bangladesh Bank to develop the relevant technology for the commercial banks under the BACH project, the seminar aimed to demonstrate and familiarize various technologies and equipments related to the automation of the payment system.

Technomedia Limited became the authorized company for payment solution and self service business in January of this year.

Bangladesh Bank plans to launch BACH by third quarter of this year aiming to facilitate business activities through modernising the payment and settlement systems.

Under the new system, payments will be settled using automated cheque clearing system and electronic fund transfer among 1050 bank branches in Dhaka initially.

Calling the banks and the bankers as the lifeblood of the country's economy, chairman of Technomedia Ltd Gopal Chandra Talukder expressed his hope that the impending banking automation can revolutionize the country's financial system and therefore can be a real boost to the whole economy.

Sudhir Bali, ECPIX Solution Sales Specialist of NCR Company carried out the presentation.

"One of the largest providers of IT maintenance support services NCR has a direct presence in 16 countries and indirect presence in 98 countries," Sudhir said during his presentation.

Managing Director of Technomedia Joshoda Jibon Deb Nath and NCR's Business Development Manager for Bangladesh, Pakistan and Afganistan Syed Saqib Ahmed also spoke on the occasion.

High officials from 49 commercial banks attended the seminar presided over by Gopal Chandra Talukder.

During the programme, an elaborate presentation was conducted on the various relevant automated payment solution hardware and software of the global technology provider NCR, of which Technomedia Limited act as the local representative in the country.

Hardware to be applied in the automation system include NCR iTran 3000i, CheXpress CX 30 as well as TellerScan 230, 215 and 4120 while software involved are NCR ImageMark Ncompass Image Proof: Read and Key, NCR ImageMark Ncompass Signature Verification (SVS) as well as NCR ImageMark ATM Passport, Commercial Passport and Branch Passport solutions, organizers informed.