Bangladesh Bank has taken up the project of automating the payment systems of the country in the name of “Bangladesh Automated Clearing House” (BACH). BKB is an active member of BACH & presently 94 branches are directly functioning through network connectivity.
The project BACH is divided into two parts:
i) BACPS (Bangladesh Automated Cheque Processing Systems) and
ii) BEFTN (Bangladesh Electronic Funds Transfer Network)
Bangladesh Bank has launched the BACPS in October’2010 by providing all the banks software, called Participating Bank Module, PBM which enables them to connect and transmit data in a secure way and with non-repudiation to the Clearing House (CH). BEFTN is functioning from Feb’2011 .