BRAC Bank’s digital onboarding boosts SME banking access

BRAC Bank PLC’s digital onboarding platform is transforming how small and medium enterprises (SMEs) access banking services in Bangladesh by simplifying the account-opening process for entrepreneurs.

The platform enables SME customers to open accounts within minutes, significantly reducing the time and paperwork required under conventional banking procedures.

Since its pilot launch in 2025, more than 50,000 SME accounts have been opened digitally, demonstrating growing demand for faster and more convenient banking services.

The process fully complies with Bangladesh Bank regulations while using secure digital infrastructure to improve efficiency and customer satisfaction, according to a press release.

Syed Abdul Momen, additional managing director and head of SME banking at the bank, said the initiative was designed to make banking easier for entrepreneurs by reducing complexity and shortening turnaround time.

He said account numbers are now issued almost instantly, while all remaining formalities are completed within three working days -- less than half the time required under traditional processes.

BRAC Bank currently serves around 250,000 SME customers. By the end of 2025, its SME loan portfolio had grown nearly 48 percent year-on-year to more than Tk 35,000 crore, while maintaining a non-performing loan ratio of 2 percent, one of the lowest in the industry.

Tareq Refat Ullah Khan, managing director and CEO, said, “Guided by the vision of our founder, Sir Fazle Hasan Abed, we have prioritised the SME sector from the outset. Digital Onboarding reflects that commitment, delivering faster, more accessible, and higher-quality banking services to entrepreneurs who have long been underserved.”

“Digital Onboarding is a natural extension of our mission to support entrepreneurs with better, faster, and more accessible banking services,” he said, adding that it has improved customer satisfaction while enhancing efficiency across our operations.

The bank aims to bring another 100,000 SME entrepreneurs into the formal banking system through the digital platform.