Prime Bank’s journey to bring banking to every corner of the country

M Nazeem A Choudhury. Sketch TBS

We began our Agent Banking journey in 2020 with a clear vision: to bring unbanked and underserved communities into the formal financial system, particularly those in rural and remote parts of Bangladesh. From the outset, our goal was simple yet ambitious—make banking accessible to everyone, everywhere.

Agent Banking allows us to deliver financial services directly to people who previously had to travel long distances or depend on informal means. Through this model, we focus on financial inclusion, empowering marginalized groups such as farmers, women, and small entrepreneurs, while complementing our broader digital transformation strategy. It is also a cost-effective alternative to traditional branches, enabling us to reach more areas and stimulate rural economies by encouraging savings, access to credit, and secure fund transfers.

For us, Agent Banking is not just a delivery channel—it is a strategic pillar of our inclusion agenda. By leveraging local agents, biometric authentication, and digital platforms, we can provide low-cost, scalable services tailored to the needs of underserved communities. Operating within familiar community settings and offering flexible hours, our agent outlets create a welcoming environment for first-time banking users.

We prioritise groups historically excluded from formal banking—women, low-income households, farmers, micro-entrepreneurs, pensioners, social safety beneficiaries, and remittance recipients. Agents often become informal advisors, guiding customers on savings, credit, and digital transactions while improving financial literacy. Each transaction creates a digital footprint, paving the way for credit scoring models that further unlock access to micro-loans and other customised products.

Today, our network spans 45 districts and 108 upazilas, with 164 active agents as of June 2025. This growth hasn't been without challenges. The pandemic halted operations, and later we faced issues such as market saturation, fraud risks, and competition from sub-branches. Yet we chose a cautious, impact-driven approach, prioritising quality and sustainability over sheer numbers.

Infograph: TBS

Our outlets now provide a comprehensive range of services: account opening, deposits, withdrawals, remittances, utility bill payments, loan disbursements, and government social safety payments. For many in rural areas, these outlets function as mini-branches, transforming how they manage money.

We have celebrated significant milestones. Over one million accounts have been opened through our network, many by first-time users—especially women and farmers. Women's financial inclusion has been a highlight, not only as customers but also as agents. Fatema Akhter from Khilkhet, Dhaka, is a shining example. Despite the pandemic's challenges, she persevered with our support, eventually becoming one of our top-performing agents and turning her outlet into a hub for savings, remittances, and bill payments.

Technology has been central to this success. Our agent network integrates in real-time with our core banking system, ensuring seamless, transparent transactions. Biometric e-KYC enables paperless onboarding, while our agent mobile app streamlines operations even in low-connectivity areas. We employ geo-tagging for expansion planning, strong cybersecurity frameworks for data protection, and digital training tools to keep agents updated. We are also piloting QR and NFC-enabled transactions to foster cashless commerce in rural markets.

We've introduced customised products designed for these communities: no-frills savings accounts for first-time users, women-focused Prime Neera accounts, remittance-linked Prime Porijon accounts, agricultural loans under Prime Abad & Khamar, and SME-friendly Prime Business Plus accounts. These are paired with financial literacy programmes delivered through agent outlets, helping customers build confidence in formal banking.

However, challenges remain. Recruiting and retaining reliable agents in remote areas, providing continuous training, managing liquidity, and mitigating fraud are ongoing priorities. Rural connectivity limitations, low financial literacy, and competition from other banks and mobile platforms also add complexity. Despite this, we are investing in technology, training, and education to keep our model strong and sustainable.

Security and trust are fundamental to our operations, especially as many customers are new to banking. We use biometric authentication and NID-based e-KYC to prevent identity fraud and ensure safe onboarding. Agents are rigorously vetted, trained, and monitored through regular audits and real-time oversight. Transactions are encrypted and integrated with our core system, while customers receive instant SMS alerts for transparency.

We also enforce strict cash-handling protocols and provide training to reduce risks. At the same time, customer education campaigns teach safe banking practices—protecting PINs, spotting fraud, and using digital services confidently. Our grievance redressal channels further reinforce trust, while appointing agents from local communities ensures familiarity and personal connection, which is crucial in rural areas.

All these efforts align with strict regulatory compliance. We adhere to Bangladesh Bank's guidelines on AML, CFT, and agent banking, undergo regular audits, and maintain transparent reporting to assure customers and regulators of our integrity.

Looking ahead, our plans are both ambitious and sustainable. In the short term (1–2 years), we aim to expand into underserved and climate-vulnerable areas, enhance agent training with digital and soft skills, strengthen cybersecurity, improve our agent app, and diversify products with micro-insurance, digital loans, and more G2P disbursements. We will also intensify financial literacy drives in partnership with NGOs and community leaders.

In the long term (3–5+ years), our vision is near-total financial inclusion—ensuring every village and union has at least one active agent outlet. We plan to evolve agents into micro-entrepreneurs offering advisory, insurance, and value-added services, while leveraging data analytics and AI to design tailored products and improve credit scoring. We also see strong potential in public-private partnerships to support social safety net distribution, agri-financing, and rural entrepreneurship, while aligning with ESG priorities like green financing and gender inclusion.

Collaboration with regulators and stakeholders will remain key. We actively engage with Bangladesh Bank to shape policies, participate in pilots, and share insights on fraud prevention. We also work with government agencies on G2P disbursements, fintechs on interoperability, and NGOs on literacy and inclusion initiatives, creating an interconnected ecosystem.

At its core, Agent Banking reflects our belief that banking is a right, not a privilege. By combining trust, technology, and community engagement, we are building a secure, inclusive, and transformative ecosystem—one that empowers rural Bangladesh and drives the nation closer to its goal of universal financial inclusion.