Bank Asia bringing digital banking seamlessly into the mainstream
As digital adoption surges, Bank Asia explains how its customer-centric mobile platform has become a trusted partner in financial empowerment and inclusion
Highlight
- Mobile banking has boosted efficiency by reducing branch visits, cutting paperwork and lowering dependence on physical infrastructure. At the same time, customers benefit from 24/7 access—no queues, no banking hours, no travel.
Over the past few years, Bangladesh has witnessed an extraordinary shift in the way people bank. Mobile applications have turned traditional branch-based services into a smooth, 24/7 digital experience. Today, customers can transfer funds, pay bills, manage their cards, and carry out essential financial tasks within seconds—empowering more people to participate in a cash-light, paperless economy.
At Bank Asia, we are proud to have been one of the early drivers of this transformation. Our mobile app brings together a wide range of services—BEFTN, NPSB, RTGS, QR payments, transfers to MFS/PSO/PSP, and payments for utilities, education, and insurance. With innovations such as "Scan to Cash" withdrawals and real-time fund transfers, we have been continuously raising the bar for what smart, secure, convenient digital banking should look like in Bangladesh.
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The Bank Asia Smart App has fundamentally reshaped how our customers interact with their finances. For many, it has become a single, trusted platform to manage their complete banking journey. Whether it's instant fund transfers, paying utility bills, merchant payments, or withdrawing cash through "Scan to Cash," customers now enjoy unprecedented control and transparency.
This convenience has triggered a notable behavioural shift. Today, more than 70% of our card and retail transactions are processed digitally. The Smart App has, for many customers, replaced the need to visit branches or ATMs, becoming their go-to gateway for a smarter, faster and more connected lifestyle.
The role of mobile banking in building a cashless society
Mobile banking is a powerful catalyst for a cashless Bangladesh. By digitizing day-to-day transactions—from shopping to government payments—it reduces dependency on physical currency and encourages transparency and financial inclusion.
The rise of QR payments and peer-to-peer transfers has enabled even small merchants across the country to accept digital payments. We have taken a leading role in this journey by promoting Bangla QR, ensuring interoperability with mobile financial services, and simplifying digital merchant onboarding. These steps are creating a secure, traceable, and inclusive payment ecosystem—pushing Bangladesh steadily toward a truly cashless future.
How mobile apps help reduce costs for banks and customers
Mobile banking has significantly improved operational efficiency. With fewer people needing to visit branches, the reliance on physical infrastructure, paperwork, and manual processes has reduced. Meanwhile, customers enjoy the freedom of 24/7 access—no queues, no limited banking hours, and no unnecessary travel costs.
This creates a win-win situation. Banks are able to serve more customers using fewer resources, while customers save both time and money. Ultimately, mobile apps help lower the cost of service delivery for banks and make banking more affordable and accessible for everyone.
Security challenges
With rapid digital adoption comes an increased exposure to cyber threats—phishing attempts, fake apps, identity spoofing, and social engineering attacks. Many users, unfortunately, still lack awareness about safe digital practices, which heightens the risk of fraud.
To counter these threats, Bank Asia has built a robust cybersecurity framework. We use biometric authentication, multi-factor verification, device binding, end-to-end encryption, Web Application Firewall (WAF), and AI-driven next-generation network firewalls. Alongside these defenses, we regularly conduct customer awareness campaigns to ensure that security consciousness grows in tandem with technological innovation.
Regulatory support needed to expand mobile app transactions
Bangladesh already has a strong regulatory foundation that supports seamless digital transactions through RTGS, BEFTN, internal transfers, NPSB, QR, and various bill payment channels. Bangladesh Bank is also moving towards full interoperability between banks and MFS providers—which we believe will significantly boost transaction volumes nationwide.
To sustain and accelerate this momentum, the sector would benefit from further regulatory support. Initiatives such as Open Banking, enhanced centralized fraud-monitoring aligned with NPSB, and policy incentives (including tax benefits for digital transactions) could greatly strengthen the ecosystem. Together, these efforts would help Bangladesh move faster toward a fully digital, cashless financial landscape.
