Midland Bank PLC has recently entered into a strategic partnership with TallyKhata, a digital bookkeeping and payment platform, aiming to digitally empower millions of small businesses nationwide, said a press release.
Midland Bank institutional banking division head Mohd Javed Tarek Khan and TallyKhata CEO Shahadat Khan signed an agreement in this regard at the bank鈥檚 head office in the capital.
The partnership is set to offer innovative financial solutions, including digital onboarding, transaction accounts, savings and credit, specifically tailored for traders and entrepreneurs.
Under this strategic alliance, TallyKhata will leverage Midland Bank鈥檚 advanced API and banking infrastructure to provide account opening and seamless digital transactions via TallyKhata鈥檚 digital wallet, TallyPay 鈥� a payment service provider licensed by the Bangladesh Bank.
The collaboration focuses on simplifying access to critical banking services, thereby significantly benefiting the underserved MSME segment across Bangladesh.
Among others, Midland Bank deputy managing director Md Zahid Hossain, CTO Md Nazmul Huda Sarkar, retail distribution division head and chief bancasurance officer Md Rashed Akter, cash management head Mohammad Hassibur Rahman, TallyKhata chief business officer Md Abu Taleb, chief growth officer Muhammad Awlad Hossain and strategy head Mohammad Zahirul Islam were present.
Key partnership objectives include account-to-account (A2A) transfers, merchant virtual account tagging, network integration (FT, BEFTN, RTGS, NPSB) for payments, card products, EMI solutions, agent banking, and digital nano loan and savings solutions.