What is PrimeAcademia? Could you tell us about this platform?

PrimeAcademia is a bundled financial solution centred around academic institutions. There are multiple stakeholders involved with an academic institute – like the institute itself, its teachers, students and their parents. PrimeAcademia addresses the diverse financial needs of everyone offering a range of services including fee collection services, payroll services for academic staff and teachers, institutional accounts with attractive interest options, savings accounts with added insurance coverage for teachers, savings accounts for students, student file services, loans parents to support their children's higher education and SME loan facilities for academic institutions. The solution is available in both conventional and Islamic banking modes. PrimeAcademia is set to transform the financial landscape for stakeholders of educational institutes by providing the convenience of one-stop banking.

What kind of services are you providing through this platform?

PrimeAcademia provides a comprehensive range of financial services tailored to meet the diverse needs of academic institutions, teachers, students and their parents. Services offered through PrimeAcademia include:

For academic institutions:

• Profit/Interest-Bearing Current Account with a competitive rate of 4% p.a.
• Fee Collection Services via multiple channels both online and offline where online means payment from MFS (bKash, Nagad, Rocket, etc.), debit, credit, prepaid cards, and internet banking apps. as well as offline payment at branch counters.
• Institutional Internet Banking for salary disbursement, fund transfers (bulk and single), and payments of government dues like VAT, taxes, customs duties, etc.
• Loan/Investment Facilities for the development of academic institutes.
• Payroll Banking Solutions including salary disbursement, dedicated support and loan facilities at preferential rates for teachers and staff.

For teachers:

• Savings Accounts with profit/interest rates up to 5% p.a.
• Added insurance coverage based on average account balance.
• Investment/loan Facilities for teachers.

For students:

• Student Savings Accounts with profit/interest rates of 5% p.a. for students below 18 years and 4% p.a. for students of 18 years and above.
• Student file processing

For Parents:

• Educational investment/loan Facilities for parents to cover their children's educational expenses.

Why did you feel like introducing this kind of platform?

We live in an age of instant gratification. One-stop service is the new norm. Prime Bank introduced PrimeAcademia to meet the unique and diverse financial needs of related stakeholders through a single service window. Recognizing that an academic institution is a multifaceted organization comprising teachers, students, and administrative staff, Prime Bank identified the need for a tailored banking solution that could address all these stakeholders' requirements.

The increasing demand for efficient fee management systems, payroll solutions, and specialized financial services for academic institutions, along with the need for affordable savings and lending options for teachers, students, and parents, led to the introduction of PrimeAcademia. This solution was designed to provide comprehensive financial support, making transactions easier and faster through digital platforms and facilitating the growth and development of educational institutions across Bangladesh.

What's the mission and vision of this platform?

Primeacademia aims to simplify financial transactions in educational institutions through efficient and seamless fee collection and payroll services at the same time empowering teachers, students and parents with attractive savings and financing options. The goal of this platform is to cater for the financial needs of an education institute by providing digitized services and amenities that will shape the future leaders of our nation.

Why should educational institutes take your service?

PrimeAcademia provides a comprehensive range of financial services tailored to meet the diverse needs of academic institutions, teachers, students and parents. Educational institutions should adopt PrimeAcademia for the following reasons:

Comprehensive Financial Solutions: PrimeAcademia is a one-stop solution designed specifically for academic institutions, addressing all their financial needs from fee collection to payroll management, from smooth financial transactions to loans for the institute's development. This comprehensive approach simplifies financial operations and ensures streamlined processes.

Efficient Fee Collection: The platform offers multiple channels for fee collection, including branch counters, online portals, and QR code-based payments. Students can pay through bKash, Nagad, Visa/MasterCard, and internet banking, making it convenient for institutions and reducing administrative burdens.

Payroll Banking Services: PrimeAcademia provides institutions with a dedicated payroll solution that includes real-time disbursement and reporting, ensuring timely and hassle-free salary payments for staff.

Investment/Loan Facilities: Institutions can access investment/loans to support the growth and development of their institutions, while teachers, parents, and students can benefit from tailored lending options like education investment/loan, personal investment/loan, and home investment/loan.

Special Benefits for Teachers and Students: Teachers can enjoy savings accounts with added insurance coverage while students benefit from attractive savings accounts with competitive profit/interest rates, free debit cards, and other facilities, helping create a supportive financial ecosystem for the entire academic community.

How can students benefit from using this platform for going abroad?

PrimeAcademia offers dedicated student file services that assist students in the financial aspects of pursuing higher education abroad. This includes facilitating foreign currency transfers and managing tuition payments for international institutions, simplifying the financial processes involved in studying overseas. Moreover, Primeacademia provides tailored educational investment/loan facilities for parents to cover their children's tuition and other education-related expenses. This ensures that financial barriers are minimized for students aiming to pursue their studies.