Sybase 365 partners ONE Bank Limited to offer mobile banking in rural Bangladesh

Tapping into Bangladesh's unbanked market

ONE Bank Limited (OBL), a Bangladeshi private commercial bank is partnering with Sybase 365, a subsidiary of mobile messaging and commerce firm Sybase Inc, and local partner Neurosoft Technologies, to bring mobile banking services to its customers (view press release). The Sybase 365 Mobile Commerce platform includes mobile banking, mobile payments and mobile money, and supports services via SMS, USSD, mobile browser, and smartphone app. Through the partnership, OBL’s branchless banking initiative will enable customers to control their bank accounts and perform transactions through their mobile device, regardless of location.

There are around 160 million people in Bangladesh, of which only 13 percent have bank accounts. OBL is looking to tap into the country’s unbanked market and serve customers in remote areas where access to banks is a challenge and Internet infrastructure is embryonic. Sybase 365 and Neurosoft Technologies will facilitate this deployment by connecting OBL with the 84 million or so mobile users in Bangladesh, 45% of whom represent the country’s rural and unbanked population.

“Bangladesh is one of the fastest developing markets for branchless-banking in the world, and the OBL launch will create opportunities for bringing more unbanked segments of society into the financial network. Services available include opening of a bank account, cash withdrawal and depositing of money, as well as receiving remittances,” said Matthew Talbot, SVP of mCommerce at Sybase 365. “We are delighted to partner with banks like OBL, not only to help them realize their mobile banking ambitions but also to help accelerate their growth. Sybase 365 continues to build on the mobile banking momentum we have helped establish in Bangladesh.”

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