News

Technology from Gemalto to serve unbanked in Bangladesh

June 3, 2013

Digital security provider Gemalto is providing its smartcard-based solution to Dipon Consultancy Services Ltd. for a financial inclusion project in Bangladesh. The program, Prime Cash, will provide secure access to banking services for the three-quarters of the country's population who are currently unbanked. DCSL is working on the project in collaboration with Prime Bank Ltd. 

DCSL has deployed DG-ePay Service Points in public places throughout the country. At these locations, consumers can enroll themselves and open an account.

Upon enrollment, the customer receives a Gemalto smart card with an embedded software application that securely stores the cardholder's facial image and fingerprint data for user authentication.

The solution facilitates everyday financial services such as account opening, deposit, withdrawal, transfer, loan repayment and remittances. DCSL has already delivered 200,000 cards to end users. 

"Gemalto's solution is the perfect fit for our market, where the literacy rate is less than 60 percent, enabling users to authenticate themselves in a fast, intuitive and highly secure manner," said Syed Javed Iqbal, director of Dipon Consultancy Services. "We believe Gemalto's smart card technology will go a long way in the spread of financial services to the remote corners of our country."

"This is a great example of how digital security can benefit a developing market and bring essential financial services to the world's underbanked," said Suzanne Tong-Li, senior vice president for Gemalto Asia. "Bangladesh is one of the fastest developing markets for branchless banking in the world and we look forward to accompanying Prime Cash Project in their journey towards Digital Bangladesh."

The Digital Bangladesh by 2021 vision is to mainstream ICTs as a tool to help eradicate poverty, establish good governance, and ensure social equity through quality education, healthcare and law enforcement for all.

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