Banks tend to digital services – tech observer

Dhaka – Online banking services are relatively new, just a few days ago online banking was important for this industry, but now this status has shifted to digital banking.

Customers no longer have to go to the bank to do banking. Money is transferred from one bank to another while sitting at home.

Banks now also offer app-based services. Not only bank to bank, but also mobile banking functionality is available at the bank. All public sector and private sector banks are focused on digital services.

The state-owned Sonali Bank is also introducing app-based banking. Now the account is opened at the bank via the Sonali e-service while you are sitting at home. Islami Bank from the private sector serves customers with the Selfin app.

In addition to the old banks, the new generation of banks are also relying on digital banking services. This means that banking services range from village to village, city to city, city to village, and village to city. Accounts are opened with Islami Bank, especially at home.

In this regard, the executive director of Islami Bank Mohammad Monirul Maula said, “Islami Bank makes maximum use of information technology so that people can easily get services.”

He said agent branches and subsidiary branches are playing a vital role in bringing digital banking services to the grassroots.

Many customers say that the branch of the bank has become a boon for the common man. All kinds of banking services, including opening bank accounts, depositing and withdrawing money, keeping deposits, credit facility, depositing utility bills, are available at these agents and branches of the bank near the local Hat Bazaar or home .

According to Bangladesh Bank, the number of new customers, deposits and loans is increasing day by day.

On the other hand, due to the low administrative costs, banks are also becoming more and more interested in setting up agents and branches.

Bankers say it will be possible to provide banking services directly to the general public who do not have low-cost financial services through agents and branches.

Again, there are no additional fees or charges imposed on customers. As a result, the sub-branch services are becoming more popular by the day.

Bangladesh Bank says it has taken various initiatives to get people out of financial services under the bank facility. In the course of this, agents and branches were opened. Banking services also go right to the front door. This speeds up financial inclusion. Employment in this sector is also increasing.

In this context, Syed Mahbubur Rahman, former chairman of the Association of Bankers Bangladesh, an association of chief executive officers of private banks, and MD of Mutual Trust Bank said, “Banks are now paying more attention to the provision of digital banking services. In this case there is the possibility of providing good service at low cost in the agent and sub-branch. “

“We get the same benefits when we open a branch, we get the same benefits when we open a subsidiary,” he said.
This makes it possible to expand the banking network inexpensively. Here, too, customers benefit from almost all types of services such as branches.

In this regard, Bangladesh Bank chief executive and spokesman Sirajul Islam said digital banking services keep banks ahead of competition.

This also enables banks to bring banking services to people’s front doors. This speeds up financial inclusion. On the other hand, employment is also increasing, he added

He also said that banking is now being done through digital services even in remote areas.

In December 2018, the Bangladesh Bank issued a guideline for setting up bank booths.

It is known to provide all kinds of banking services including opening all kinds of bank accounts, cash deposit and withdrawal, checkbook and payment order writing, cashing of a check and payment of order deposit, deposit and loan function, real-time online banking in the sub-branch, utility bill deposits are provided .

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