Just an app needed to open Sonali Bank-account
An account can now be opened with any branch of Sonali Bank, the country's major bank, at any time within a few minutes simply with the usage of an app.
Initially, no hard copies of documents need to be submitted, all in your time and effort to maintain a maximum degree of social distancing during the ongoing pandemic, said the state-run bank through the service's launching ceremony.
The mobile application, Sonali e-Sheba, premiered by State Minister for ICT Zunaid Ahmed Palak yesterday. The ceremony included a live demonstration on opening an online bank-account.
Currently, a few crore smartphones are making usage of the country's mobile network which kind of service can make citizens' life easier, Palak said.
The app can be an extension of the Bangladesh Bank's electronic Know Your Customer (e-KYC) system that aims to improve the country's financial inclusion cause.
Under the e-KYC, a company can open a person account by filling a digital form, going for a photograph on the spot and authenticating the customer's identification data instantly. A thumbprint serves as the digital signature.
The system also allows limited-scale transactions through agent banking networks and mobile financial services.
A nationwide pilot programme for e-KYC was completed with 18 banks and one mobile financial service provider. Data supplied by the institutions showed that the e-KYC can save time.
Sonali Bank may be the second lender to have introduced the service beneath the central bank's e-KYC guideline issued on January 9. Eastern Bank launched it on Sunday.
With this progressive service, Sonali Bank will also begin working on digitalisation in every of their 12,022 outlets, said Ziaul Hasan Siddiqui, the state bank's chairman.
The bank is continue towards adopting online banking and an e-wallet, which is launched within the next few weeks, he said.
"We've taken preparation for agent banking and will move on mobile financial service (MFS) within a short while as launching of e-KYC may be the beginning," said Siddiqui, a former deputy governor of the central bank.
Previously, it would have a few days to open an account alongside visits to the associated bank branch. However now it'll happen within a couple of minutes, he added.
After opening a merchant account, the customer will receive a PDF copy of the application form that had been chock-full, said Md Ataur Rahman Prodhan, managing director and chief executive officer of the bank.
A visit to the selected bank branch will be needed within the following 90 days for maintenance of the account, he added.
