BRAC Bank's Astha App secures milestone of 700k subscriber base

Makes record Tk 1,250 billion in monthly transactions in September 2024

FE Team | Published: October 10, 2024 21:28:19

BRAC Bank's smart banking app, Astha, achieved a 700,000 customer base, demonstrating the app's popularity among customers.
The digital banking app has become an essential daily banking platform, providing 24/7 transaction convenience, according to a press statement by the bank sent on Wednesday.
The mobile app crossed Tk 1,250 billion monthly earlier in September 2024, a record in the Bangladesh banking industry for a single-month app-based transaction for a banking App. Tk 7,100 billion transaction in the year 2023 has seen a massive growth to more than Tk 9,200 billion within September 2024, making it a testimony of people's daily utility as a smart banking solution.
Earlier, the app witnessed phenomenal customer base growth in the last couple of years, especially in 2023, when it saw 78pc year-on-year growth in customer numbers. Starting in 2024 with 500,000 customers, the app managed to secure 200,000 in less than one year, becoming the fastest-growing banking app in Bangladesh.
Functionally rich, easy to use, safe, and secure, the mobile app Astha enables customers to make banking transactions with just a few clicks. Astha comprises a wide range of digital banking services and engagement tools, ensuring a delightful customer experience, higher adoption rates, and market impact.
Selim R. F. Hussain, the bank's managing director & CEO, said, "Astha has brought the whole bank's convenience to our customers' fingertips. With a tagline of 'Bank Smart,' it provides smart banking solutions and drives a vibrant cashless culture in Bangladesh," he added.
In Astha, customers can choose from NPSB, BEFTN, and RTGS options while conveniently transferring funds to other banks without any charge. With NPSB and RTGS options, customers can instantly transfer funds to any bank in Bangladesh. Mobile wallet fund transfer, QR Code-based' scan and pay', utility bill payment, and mobile recharge make life easy for customers.
Apart from fund transfer, Astha offers a range of facilities, including DPS, FDR, generating new PIN, changing existing PIN, resetting forgotten existing PIN, temporary card block, etc. This mode of transaction ensures greater security as every transaction requires OTP to be sent to the registered mobile number or email address.
The Astha app set new precedent in the banking landscape by introducing many firsts, including 'Astha Lifestyle,' 'Charge-free banking,' and 'Digital Rewards,' which have put it on the map.