The Hongkong and Shanghai Banking Corporation Limited and Karnaphuli Gas Distribution Company Limited (KGDCL) in Chattogram have recently signed an agreement to offer Bill Collection Solution for KGDCL’s consumers.
The signing ceremony was held at the KGDCL’s head office in Chattogram. This proposition provides more efficient and cost-effective collection modality for KGDCL and HSBC’s customers.
HSBC is the first foreign bank to integrate with KGDCL in Bangladesh with innovative API (Application Programming Interface) based branch collection proposition.
The proposition model will aid KGDCL to validate their consumer collections against their record through API and to reconcile efficiently. This will facilitate KGDCL consumers to avail best-in-class services from HSBC Branches while paying KGDCL bills.
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The KGDCL, which is responsible for distributing gas in Chattogram and the hill tracts, is a concern of state-owned Petrobangla. The solution will support KGDCL with improved visibility and control over their industrial and commercial Customers’ gas bills.
Engr. MD. Rafiqul Islam, managing director of KGDCL, said, “We are extremely pleased to partner with HSBC Bangladesh as the first foreign bank with the vision to shift towards digitalised collection platform and sustainable nation”.
He said the KGDCL will look forward to strengthen the relationship with the leading international bank and welcomes new innovations for countries development goal for smart Bangladesh.
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Gerard Haughey, country head of wholesale banking at HSBC Bangladesh, said, “HSBC is constantly developing innovative cash management solutions through its secured digital banking platforms for its valued customers”.
He said their API based receivables solution provides seamless connectivity between HSBC’s and KGDCL’s systems and enables increased business agility across the broader ecosystem.
“HSBC is very keen to collaborate with KGDCL to increase the capacity of the gas supply network which will help accelerate industrialization in Bangladesh,” he said.
Gerard and Engr Rafiqul Islam inked the deal on behalf of their respective organisations.
Also, Devesh Mathur, chief operating officer of the foreign bank and other senior officials from KGDCL and HSBC attended the signing ceremony.
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