Digital KYC launched

Scitech Report

4 March, 2019 12:00 AM printer

Digital KYC launched

Digital financial service- Nagad has introduced digital KYC (Know Your Customer) system which is considered as first of its kind service in Bangladesh.

Telecommunications Minister Mustafa Jabbar announced the service at a function at Westin Dhaka on Saturday.

Among others, Telecommunications Acting Secretary Ashoke Kumar Biswas, Bangladesh Post Office Director General Sushanta Kumar Mandal and Nagad Managing Director Tanvir A. Mishuk and Kona Kona Software Managing Director Minaoar Hossain Tanzil were also present on the occasion.

Minister Mustafa Jabbar said: “The government of Bangladesh has been proactively introducing services to the benefit of the people. In that continuation, Nagad’s stride is in accordance to the ‘Digital Bangladesh,”.

The Digital KYC Registration has been introduced to ensure a hassle-free process for the customers. To complete this process customers are required to have their registered mobile phone, to take photo of the front side and back side of the National Identity(NID) database.

For user convenience, the system automatically fills up the Bangla and English information of NID so that the customer does not need to type. It supports both old and new NID format.

NID information of the customer will be verified with the Election Commission Database in real time.

The whole process can be completed within 30 seconds per customer. This platform is developed by Kona Software which is the Bangladesh office of the South Korean smart card and digital payment solution provider Kona I.

Nagad will utilize this platform for the faster and safer way of registration process in the Digital KYC.