Nagad wins Fintech Impact Award

Nagad has won the Fintech Impact Award for its contribution to financial inclusion by simplifying the account opening process through the use of technology.

In addition to simplifying the use of financial technology during the coronavirus pandemic, Nagad has played an important role by simplifying the mobile payments. Nagad Chief Executive Officer (CEO) Rahel Ahmed received the award at an event at Hotel Sheraton in the capital recently.

According to a media statement on Tuesday, Nagad is one of the winners of the maiden `Bangladesh Fintech Awards 2021’ initiated by Bangladesh Brand Forum.

The event was attended by top personalities of the country’s financial sector, senior officials of government agencies and regulatory bodies and entrepreneurs in the fintech sector.

The FinTech Impact Award was given to Nagad for making the account opening process simple. Anyone can open an MFS account on Nagad network just by dialing *167# from their mobile phones and setting up a four-digit PIN.

At one stage earlier this year, around three lakh people opened Nagad accounts every day by dialing *167#. As a result, more than 5.70 crore people have easily come under the financial system through Nagad.

Nagad has introduced the easy account-opening process keeping the need of ordinary people in mind. At the same time, it has introduced an affordable transaction system by ensuring the security of customer information.

Earlier, Nagad was the first financial institution in the country to launch e-KYC. Because of the innovation, Nagad has won many domestic and international awards, including the Best Innovation Digital Financial Services Award, the Inclusive Fintech Fifty Award as the best fintech initiative, the Best Digital Financial Service Provider Award, and the WITSA Global ICT Excellence Award, added the statement.