BEFTN – Bangladesh Electronic Funds Transfer Network
A Complete Suite for Automated Interbank Electronic Fund Transfers
Overview
01
- Bangladesh Electronic Funds Transfer Network (BEFTN) by Advanced Software Development (ASD) is a robust, secure, and scalable solution for automating interbank electronic fund transfers in compliance with Bangladesh Bank regulations.
02
- It supports credit and debit transactions, enabling faster, paperless settlement of payroll, vendor payments, utility bills, and government disbursements.
03
- The system reduces operational risks, improves processing speed, and ensures compliance while enabling banks and financial institutions to serve customers more efficiently.
Key Features
- Latest Web Technology– Built on secure modern frameworks (.NET, Angular, API-first design).
- Compliant with Bangladesh Bank Standards– Aligned with BEFTN guidelines and ACH (Automated Clearing House) rules.
- Multi-transaction Support– Salary, vendor payments, dividends, pensions, utility bills, government disbursements.
- Real-time Monitoring & AlertsDashboards, email, and SMS notifications for every transaction status.
- High-volume Processing– Capable of handling bulk transaction files with accuracy.
- Interoperability– Secure API/MQ integration with core banking systems and ERP platforms.
Benefits
Seamless Interbank Fund Transfers through automated clearing.
Reduced Paperwork by replacing manual voucher/payment instructions.
Enhanced Compliance with Bangladesh Bank EFTN guidelines.
Improved Efficiency by reducing manual workload and processing delays.
Customer Satisfaction with faster, reliable, and transparent payment settlement.
Highlights
- Credit Transfers (Payroll, Vendor Payments, Utility Bills, Pensions, Dividends).
- Debit Transfers (Recurring Collections, Loan Installments).
- Bulk File Upload & Automated Processing.
- Secure Transaction Validation & Reconciliation.
- Audit Trail, Logs, and Compliance Reports.
- Credit Transfers (Payroll, Vendor Payments, Utility Bills, Pensions, Dividends).
- Debit Transfers (Recurring Collections, Loan Installments).
- Bulk File Upload & Automated Processing.
- Secure Transaction Validation & Reconciliation.
- Audit Trail, Logs, and Compliance Reports.
Technology Stack
Client Success Story
Standard Chartered Bank
“Standard Chartered Bank is using the Cheque Processing System (CPS) developed by Advanced Software Development (ASD). We are very satisfied with the services provided by ASD’s support team, offered whenever required. We congratulate ASD for delivering such a wonderful software and excellent performance.”
Standard Chartered Bank
“Standard Chartered Bank is using the Cheque Processing System (CPS) developed by Advanced Software Development (ASD). We are very satisfied with the services provided by ASD’s support team, offered whenever required. We congratulate ASD for delivering such a wonderful software and excellent performance.”
Frequently asked Questions
Q1: How does BEFTN integrate with our Core Banking System?
Via secure APIs, MQ, or SFTP batch processing to ensure real-time or scheduled synchronization.
Q2: Can it handle high-volume payroll or vendor payments?
Yes, it is designed for bulk file uploads and high-volume corporate transactions.
Q3: Does it comply with Bangladesh Bank EFTN rules?
Yes, fully aligned with BEFTN operating guidelines and ACH standards.
Q4: How secure is the solution?
The system includes end-to-end encryption, role-based access, audit trails, and disaster recovery support.
Q5: Can it support both credit and debit transfers
Yes, it supports credit transfers (payroll, vendors, pensions) and debit transfers (loan collections, utility bills).
