Brac Bank has introduced eSingature Solution for its procurement function, enhancing transparency and security of its outsourcing works.
It is the first bank to launch eSingature in this field, Brac Bank said in a statement today.
Bangladesh Bank-mandated digital certificate was introduced for signing and validating all relevant procurement documents, thus ensuring enhanced security.
The new system will ensure overall security by introducing digital signatures in work order/purchase orders ensuring genuineness, reliability and confidentiality.
It will reduce financial risk by dealing with the scope of counterfeiting work orders.
From now on, all work order/purchase orders issued from Brac Bank will have eSingature embedded in them to ensure verifiability of the work order and further streamline the bank’s procurement function.