ONE Bank, Nagad team up to facilitate real-time fund transfer

ONE Bank PLC yesterday signed an agreement with Nagad Limited to facilitate real-time fund transfers from ONE Bank accounts to Nagad wallets via the bank’s mobile application, “ONEApp”.

The initiative is expected to enhance transaction flexibility for customers and mark another milestone in the country’s journey towards a cashless economy.

Under this agreement, customers will enjoy a seamless, secure, and convenient account-to-wallet transfer experience, enabling them to manage financial transactions more efficiently from a single digital platform.

Md Motasem Billah, administrator of the mobile financial services (MFS) provider, and Muhit Rahman, managing director of the bank, signed the agreement and launched the service at a programme held at the bank’s corporate head office in Gulshan, Dhaka, according to a press release.

Speaking at the event, Billah said that interoperability between banks and mobile financial services is crucial for expanding digital financial services in Bangladesh.

“This partnership with ONE Bank will enable customers to conduct digital transactions more conveniently while also contributing to greater financial inclusion across the country,” he added.

Rahman said, “At ONE Bank, we are committed to continuously enhancing our digital banking ecosystem to deliver greater convenience and value to our customers.”

“This partnership with Nagad marks another important step in that journey, enabling customers to transfer funds instantly, securely, and seamlessly.”

“It also aligns with Bangladesh Bank’s vision of promoting a cashless economy and advancing digital financial inclusion across the country,” he added.

This collaboration reflects the shared commitment of ONE Bank and Nagad to leveraging technology-driven solutions for delivering innovative, customer-centric financial services and promoting greater digital financial inclusion across the country.

Mohummed Shahin Sarwar Bhuiyan, chief commercial officer of the MFS provider; Md Saidur Rahman Dipu, head of business sales; Shabbir Ahmed, additional managing director and head of business at the bank; Kazi Ziaul Islam, deputy managing director; and Iftekhar Ahmed Zafar, deputy managing director, along with other senior officials, were also present at the event.