Press Release

Despite Bangladesh sustaining healthy levels of GDP and international trade growth, the banking sector continues to face challenges and uncertainty. An unprecedented rise in the banked population has led to a tremendous increase in the volume of low-value transactions which banks need to process. This, combined with ever more sophisticated financial scams, is putting stress on back office operations but investment continues to be focused on the front office.

On 20 September 2014, AMFCO, Simple Solutions and SmartStream Technologies will be officially launching SmartStream's industry-leading Corona reconciliation and exception management solution in Bangladesh. At the event the specialists from both SmartStream and AMFCO will demonstrate, through the use of active customer case studies, how automating traditionally manual back office processes can provide huge benefits to financial institutions.

Corona is the world's most widely-deployed SWIFT Certified, modular application that addresses the reconciliation and exception management needs of institutions of all sizes. It provides greater transaction management control whilst its out-of-the-box functionality enables firms to significantly reduce their time to benefit.

Corona provides a range of advanced functionality for typical intra-day and end-of-day operations control, exception detection and investigations management. Liquidity can be managed on a real-time basis supporting greater control of a firm's financial exposure and a greater ability to exploit market trends. It delivers greater operational efficiency while reducing operational costs and risk through exception detection and enhanced transaction management.

Corona and its diverse modules (Cash, Securities, Confirmations, Investigations, Universal Data, Inter-System, Cards and Archive) are designed to automate multi-product processing operations to deliver greater control and visibility into transactions.

AMFCO has been appointed to deliver certified and dedicated resources performing sales, pre-sales and professional services activities for SmartStream's Corona solution in Bangladesh and other select markets. The joint offering of SmartStream's market-leading solutions and AMFCO's knowledge and experience of the local market provides a unique proposition for financial institutions in the region.


AMFCO has been a trusted and recognised name in Pakistan, Africa, Bangladesh, India, Middle East and South East Asia markets for the past eighteen years, and continues to provide solutions to the financial services community through the biggest pool of highly qualified and dedicated technical and sales specialists in the country. The company is a Specialist in the areas of Customer Engagement Planning and Business Consulting; Relationship Management; Process Design and Automation; Systems Integration and Implementation Services for various Business Technology Solutions.

Simple Solutions (Pvt) Ltd is a business team of AMFCO in Bangladesh. Simple Solutions is working with AMFCO to launch SmartStream's market-leading Corona solution in Bangladesh. Simple Solutions has long standing business relationship in the financial sector of Bangladesh along with its other sister concerns NetWorld Bangladesh and NetWorld Technology Ltd offering various financial products and services.

For further information:

    1. AMFCO Group of Companies
    1. Sakina Saifuddin (Director Marketing)

    SmartStream provides Transaction Lifecycle Management (TLM) solutions and Managed Services to dramatically transform the middle and back-office operations of financial institutions. Over 1,500 clients, including more than 70 of the World's top 100 banks, 8 of the top 10 asset managers, and 8 of the top 10 custodians rely on SmartStream's solutions.

    SmartStream delivers greater efficiency, automation and control to critical post trade operations including: Reference Data Operations, Trade Process Management, Confirmations and Reconciliation Management, Corporate Actions Processing, Fees and Invoice Management, Cash & Liquidity Management and Compliance Solutions. Used independently or as a suite of solutions and services, clients gain a lower cost-per-transaction whilst reducing operational risk, aiding compliance and improving customer service levels.



    1. Mr Maroof Ayub, CEO
    1. Mr Zulfiqar Ali, Senior Consultant
  • SmartStream:

    1. Mr Pritesh Kotecha, VP Sales MENA
    1. Mr Santosh, Sr. Solution Expertise
  • Simple Solutions:

    1. Capt Saifur Rahman, Managing Director
    1. Mr Sabik Rahman, Director
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