ENABLE DIGITAL SAFETY NET PAYMENTS FOR 1000
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Financial Inclusion remains a pressing challenge for Bangladesh. Only 34% of Bangladeshis own a bank account. These “unbanked” individuals struggle to financially plan, safeguard their savings, seek personal or small-business loans, and gain access to employment.
Only 34% of Bangladeshi adults own bank account
There is untapped potential, with 50% of Bangladesh’s population
forecasted to own a mobile phone by 2020
Bangladesh Mobile Phone Penetration %
Technology is rapidly expanding financial inclusion; enabling digital cash transfers, mobile-based financial services, and customer data collection to drive further innovation.
Bank Asia’s new Payment Gateway will offer ATM services through willing and capable entrepreneurs – shopkeepers, village heads, and volunteers among others. Entrepreneurs will become “Mobile ATMs” with their account and phone. Any mobile banking customers of Bank Asia will be able to access these MobileATMs to withdraw cash, thereby expanding financial access points to any area with 3G coverage.