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Nagad wins global award

July 12, 2021 00:00:00

Nagad, the mobile financial wing of Bangladesh Post Office, has received yet another prestigious global recognition as the UK-based Global Economics Ltd. has crowned Nagad with the 'Most Innovative Digital Finance Service' Award of 2021, reports BSS.

The award has been given in recognition of Nagad's outstanding initiatives on financial inclusion through the development of an extraordinary mobile application.

The financial publication and bi-annual business magazine, which is well-known for its thoughtful insights into the financial sectors on various industries across the world, announced the award last week, said a press release.

According to the magazine's award policy, technology holds the key to various industrial innovations and prosperity. The Global Economics Awards' agenda is to recognise the digital transformations related to technological innovation.

Launched in March 2019, Nagad has already been recognised for its innovative service across the world. Nagad's innovation, the electronic Know Your Customer (e-KYC), was the first of its kind in Bangladesh.

Riding on it, the MFS operator is making a solid contribution to the financial inclusion in the country.

Thanks to the massive innovation, Nagad, in partnership with mobile phone operators, has introduced an account opening system that takes only a few seconds, which is the first of its kind in the world.

Anyone can open a Nagad account in just a few seconds by dialling *167# from their mobile phones and setting up the four-digit personal identification number (PIN).

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