Citibank, NA Bangladesh and MetLife Bangladesh have partnered up to unveil the nation’s first-ever receivable host-to-host (H2H) solution utilising Bangladesh Bank’s EFT Debit (Electronic Fund Transfer) network.
The new solution is expected to enable Metlife Bangladesh to bolster the effectiveness of its EFT premium collection from a big number of consumers, who utilised this channel, as digital insurance premium payments via electronic funds transfer from a bank account is rising in popularity.
The EFT Debit of the central bank gives consumers the convenience of digitally paying their premiums via bank accounts and it does not need physical visits to banks to pay premiums.
Through complex technology integration between MetLife Bangladesh and Citi’s award-winning online bank platform CitiDirect BE, the platform was delivered.
Source:
