BRAC Bank Launches Country’s First-ever Digital Loan App ‘Shubidha’
BRAC Bank has launched the country’s first-ever end-to-end Digital Loan App named ‘সুবিধা’ (Shubidha).
The app will enable customers to apply for Digital Retail Loans from anywhere in Bangladesh and get loan approval instantly. Moreover, they can purchase products and services from the bank’s partner outlets using the app and the loan will be disbursed digitally into the partners’ accounts in a few moments. The bank’s vision is to make the app a one-stop platform for loan-related solutions for valued customers.
Md. Mahiul Islam, Head of Retail Banking, BRAC Bank, said that, “This product is an example of innovation in banking service which will also go with the government’s vision of Digital Bangladesh. The unique aspect of the loan is that the application will be made, processed and disbursed digitally, giving many conveniences to the customers.”
“Our plan is to onboard more partners from a wide range of industries keeping in mind of everyday necessity of the valued customers. We want to scale this up and turn ‘Shubidha’ into a digital loan platform accessible from any part of the country. As a customer-centric bank, BRAC Bank will continue its pursuit to bring new technology to ensure a delightful customer experience,” he also added.
‘Shubidha’ App has two variants- one to be used by the customers and another by business partners of BRAC Bank. The customers will experience a complete digital borrowing journey quickly, securely and conveniently using the customer app. They can avail of the loan from their convenient location and do not need to visit any branch or contact any bank representative to avail of the loan facility. If applied during working hours, customers can know about loan sanction decisions within a few minutes of application. After loan approval, customers can visit the bank’s empanelled partner outlets to purchase their desired products using the loan facility. At that time, the partner will use the partner app to process the loan for the customers’ purchase.
In addition to the benefits for the valued customers, Shubidha App has significantly reduced its loan processing time and opened a new gateway for the bank to reach many untapped customers through a digital platform.
Gaznobay is a global business magazine.
