Digital Financial Service (DFS) provider “Nagad” has introduced digital Know Your Customer (KYC) service for its current and prospective clients.
The service, first of its kind in Bangladesh has been launched at an event in Dhaka recently, said a press release.
Posts, Telecommunications and Information Technology Minister Mustafa Jabbar, Acting Secretary of Posts, Telecommunications and Information Technology ministery Ashoke Kumar Biswas, Director General of Bangladesh Post Office Sushanta Kumar Mandal, Managing Director of Nagad Tanvir A. Mishuk, Managing Director of Kona Software Lab Minaoar Hossain Tanzil along with other officials of the Bangladesh Post Office and Nagad attended the event.
Mustafa Jabbar said, ‘’ The Government of Bangladesh has been proactively introducing services to the benefit of the people. In that continuation, Nagad’s stride of Digital KYC is in accordance to the ‘’Digital Bangladesh’ vision of the prime minister.’’
The Digital KYC Registration has been introduced to ensure a hassle-free process for the customers. To complete this process customers are required to have their registered mobile phone, to take photo of the front side and back side of the national ID (NID).
For user convenience, the system automatically fills up the Bangla and English information of NID so that the customer does not need to type.
It supports both old and new NID format. NID information of the customer will be verified with the Election Commission Database in real time. The whole process can be completed within 30 seconds per customer.
This platform is developed by Kona Software Lab Ltd, the Bangladesh subsidiary of the South Korean smart card and digital payment solution provider KONA I Co. Ltd.
Nagad will utilize this platform for the faster and safer way of registration process in the Digital KYC.