In a feat unique to a local bank in Bangladesh, Prime Bank Limited has clinched the Best Digital Bank Award, outshining local and international counterparts in this fiercely contested award category, said a press release.
The timing of the international accolade could not have been better as the bank has started its digital transformation journey in full swing, with a number of digital re-architecting and technology overhaul projects in the offing.
Only recently, Prime Bank has launched collateral-free loan for ICT, BPO/outsourcing, and internet and e-commerce startups that won whole-hearted appreciation from the government and industry.
Hong Kong-based Asiamoney's prestigious Best Bank Awards are seen as the benchmark for the leading firms in financial services in the region, and are fiercely contested across numerous markets and categories.
Past winners in this category include UOB in Singapore, Rakuten Bank in Japan, HDFC Bank in India, and Standard Chartered in Hong Kong.
Prime Bank's unique digital proposition includes PrimeDigi, which has been successful in wooing tech-savvy millennials, state-of-the-art internet banking service Altitude, which has witnessed overwhelming subscriptions during Covid-19, latest technology-enabled ATM service, and best-in-class Contact Centre.
The bank is about to embark on Agent Banking, exclusive financial initiative for women, and Voice Banking, which all are to be fully aligned with the digital transformation roadmap.
Asiamoney has lauded the significant progress Prime Bank is making in digitisation across both service and cyber security frontiers.
In the award citation, it noted, "Prime Bank launched PrimeDiGi platform, Bangladesh's first-ever digital savings account and has all the associated credible cybersecurity bells and whistles. PrimeDiGi is the core of the bank's strategy to stay at the forefront of an industry evolving at blistering speed."
"The bank is keeping pace with the country's digital growth and exploring the untapped potential of the digital landscape of Bangladesh. To win a bigger share of the local market, Prime Bank is constantly enhancing its self-service banking channel, Altitude, e-loans, e-credit and nano-lending," Asiamoney added.
On getting crowned with the coveted international laurels, Rahel Ahmed, managing director and CEO of Prime Bank, said: "The banking industry in Bangladesh continues to transform with a light physical and high digital strategy, and we remain committed to giving our clients the best experience."
"Using digital, we are empowering our clients to bank through the channels they prefer and in a manner that is simpler, more convenient and easily accessible. Winning Asiamoney's Best Digital Bank Award is a great encouragement to us, and testament to the strides we have made in re-imagining the future of banking."
Rahel added, "We believe when it comes to digital banking, it is more about mindset than about physical technology. That is why we, at Prime Bank, encourage our people to embrace digital mindset, enabling them with training and hands-on experience."