Community Bank partners with PriyoShop and Insights Genie to launch AI-powered credit scoring for MSMEs

Community Bank Bangladesh PLC, in collaboration with PriyoShop and Insights Genie, has launched the country's first AI-powered alternative credit scoring system, revolutionising access to finance for micro, small, and medium enterprises (MSMEs), says a press release.

This groundbreaking solution integrates PriyoShop's retailer data, Insights Genie's advanced AI engine, and Community Bank's financial expertise to transform how small businesses access credit. The model utilises demographic data, purchase history, and for the first time in Bangladesh Psychometric insights, and user behaviour analytics to offer real-time, fairer, and more inclusive credit evaluations.

Bangladesh is home to over five million retailers, many of whom remain excluded from formal banking due to lack of collateral and traditional documentation. This new model allows thousands of small shopkeepers to access short-term credit facilities-ranging from one to three months-via a seamless eKYC process. Eligible retailers can now secure financing of up to threshold, enabling them to expand inventory, increase turnover, and boost their livelihoods.

Kimiwa Saddat, Managing Director (Current Charge) of Community Bank Bangladesh PLC, said: "Community Bank is proud to pioneer this innovation in partnership with PriyoShop and Insights Genie. MSMEs are the backbone of Bangladesh's economy. By equipping them with smarter financial tools, we are enhancing their ability to grow and contribute to sustainable national development."

This initiative aligns with Community Bank's vision of inclusive growth by merging traditional banking with advanced technology. It not only expands access to credit but also sets a new benchmark for innovation in Bangladesh's financial sector.

The agreement was formalised in the presence of key stakeholders: Asikul Alam Khan, Founder and CEO, PriyoShop, Vincent Choy, Founder, Insights Genie, Kimiwa Saddat, Managing Director (Current Charge), Community Bank Bangladesh PLC, Tanjim Morshed Bhuiya, Head of ITC, Dr Md Ariful Islam, Head of Corporate Banking and Head of Business (Branch), Zahir Ahmed, Head of Cards, Md Mamun ur Rahman, Head of ADC and Head of MD's Coordination Team, Senior officials from PriyoShop and Insights Genie, were also present on the occasion.