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Banco Securities Limited

Banco Securities Ltd. was initially functioning as a part of Banco TransWorld (BD) Limited with its membership no. 63 of Dhaka Stock Exchange Limited (DSE) with its corporate office located at Ispahani Building (3rd floor), 14/15 Motijheel C/A, Dhaka-1000. Subsequently Banco Securities Limited got its separate entity in 2001 and continued working in the new name with the same corporate office having its branches in Dhaka and other outside stations. This company is now a leading broker house and dealer of Dhaka Stock Exchange Limited.

Situation

Banco Securities Limited had been using “Progressive Stock Brokers” software, one of the leading software solutions for back office to manage their daily brokerage house operation. But they faced some problems during operating that software which were:
1) The company could not see how much they have gained profit in every working day
2) There was no SMS/E-mail service
3) The company posted their Right/Bonus share manually
4) The company could not see whether the share mature/immature
5) The company could not access their branch

Subra Systems Software Solution

The company implemented “Central Back Office System” (CBO), which provides a natural progression for Banco Securities customer’s as well as the company itself. After implemented this CBO software, the problems which are above mentioned are resolve, also some new features added, for example:

1) Customers of this company can do online trading
2) Customers can check their ledger balance from home
3) Auto Reconciliation
4) Year end ‘ Tax Certificate’

Results

According to Md. Shafiul Azam the Director of Banco Securities Subra Systems CBO software solution is much easier than other software. Azam says “We knew the only way we could succeed was with acceptance from the field. For that to happen, we had to make their process better.” Key areas of enhancement were visibility and information access. While CBO provided strong capabilities for operating company’s’ daily as well as future operations, “Progressive Stock Brokers” did not have the visibility to help plan for future business decision. CBO opened up new possibilities. “Now even I can look after my company’s branches from my office,” says Azam. ”CBO has enabled us to communicate more effectively with current customers and prospects” Azam raves. “We are light years ahead of where we were in terms of being able to manage and share critical information, quantify and maintain our daily operations. CBO has really revolutionized our operation.”