Nagad sets daily account-opening record
Clients of Nagad network, the digital mobile service platform is rapidly growing every day. It said about 1.80 lakh new clients are joining the network daily just by pressing a couple of buttons on their mobile phones.
This is a record in opening accounts and an example of boosting the financial inclusion using technology, Nagad said.
New clients are joining Nagad, the digital financial service of the postal department, in droves after it introduced the opening of accounts through dialling of *167# and the setting up four-digit PIN.
Besides, people can open an account now through the app of Nagad after having their national identification number verified.
After introducing the easy account opening process recently, the second largest MFS carrier has also launched some campaigns, which also rush users to join the network of Nagad. The download of Nagad app has gone up to such a level that it is in the top chart of the Google Play Store among the apps from Bangladesh, said a press release.
Recently, Nagad has signed agreements with all mobile phone operators to allow their subscribers to open MFS account by dialling *167#. The innovation of Nagad has already caught the attention of many countries and global agencies.
Nagad has introduced country's first digital KYC (know your customer) to save time and money. Nagad has taken the step to open MFS accounts in just a minute through the Porichoy app of the government. Now, a mobile phone user can easily become an MFS account-holder by dialling *167# and set the PIN.
Only on February 17, about 1.85 lakh people joined the Nagad platform. A similar pace of client registration was observed before and after. On average, 1.5 lakh people registered with Nagad every day in the last two weeks.
As a result, the effective number of clients of Nagad has gone past 3 crore, a development that is significantly contributing to the financial inclusion in the country.
Nagad's Managing Director Tanvir A Mishuk said, "We had wanted from the very beginning that we would take Nagad to the people across the country very easily. Aiming that we have reduced the cost and ease the account opening process and through it we also have ensured liberty of using financial service. ...hopefully we will become the most popular MFS operator in the country very soon."