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The Challenge
IDLC has grown significantly over recent years
in terms of transaction volume, product range
and number of customers, with ambitious plans
for the future. To facilitate further growth and
manage risk, IDLC has been strongly focused on
ensuring that robust, scalable and flexible
processes and technology are in place.
During 2012, one of IDLC’s strategic objectives
has been to automate the collections process to
improve efficiency and transparency. One
example is the collection of monthly
installments from customers who deposit cash
through nominated bank branches. IDLC’s
headquarters collects these statements
manually from each branch for reporting and
reconciliation purposes. This was an enormous
task each month, requiring considerable
administration resource with significant scope
for error or omission.
IDLC FINANCE LIMITED
Automating Collection and Reconciliation
IDLC Finance Limited (IDLC) is the largest multi-product non-bank financial institution in
Bangladesh with a diversified client base across corporate, retail, SME and capital market
segments. The company has a long-term credit rating of AAA and short-term rating of ECRL-1
by Emerging Credit Rating Limited, the highest rating in Bangladesh. IDLC has a presence in all
major economic zones of the country through a network of 27 branches, with a market share of
12% of loans and advances and 10% of deposits. Citi has supported IDLC’s banking and finance
activities since 2003.
Industrials
Energy, Power
and Chemicals
Technology, Media and
Telecommunications
Consumer and
Healthcare
Non-Bank Financial
Institutions
