Sybase 365 Partners with ONE Bank Limited Offering Mobile Banking in Bangladesh Rural Communities
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Private Commercial Bank to Launch Branchless Banking Services for 80+ million Mobile Users; 45 percent of whom are Unbanked and Under-banked
SINGAPORE - Sybase 365, a subsidiary of Sybase, Inc., the global leader in mobile messaging and mobile commerce services, together with its local partner, Neurosoft Technologies, today announced that ONE Bank Limited (OBL), a private commercial bank in Bangladesh, has selected the Sybase 365 Mobile Commerce platform to deliver end-to-end mobile banking services to its customers. With the partnership, OBL will introduce its branchless banking initiative enabling customers to have full control of their bank accounts and perform transactions through their mobile phones regardless of their location.
"We have reviewed various mobile solutions for our branchless banking initiative and it was clear that Sybase 365 is the market leader," said Adil Raihan, executive vice president, at ONE Bank Limited. "With its global reach and proven expertise, Sybase 365 can deliver solutions that meet our scalability and interoperability requirements. We are confident this partnership will deliver a complete banking experience to our customers even in rural areas catering to the unbanked and under-banked population of Bangladesh."
There are around 160 million people in Bangladesh, of which, only 13 percent have bank accounts. OBL will capitalize on the vast market potential, which includes serving customers in remote areas where access to physical banks remains a challenge and Internet infrastructure continues to be nascent. Sybase 365 and Neurosoft Technologies will facilitate this deployment, helping OBL further expand its market by connecting with approximately 84 million mobile users in Bangladesh, 45 percent 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 the 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, senior vice president, 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."
OBL's move into offer mobile banking reaffirms the bank's commitment in providing banking facilities to rural communities to accelerate the pace of building 'Digital Bangladesh' as charted out in the Bangladeshi government's Vision 2012. This includes initiatives to provide the country's rural population with banking services, helping them develop their lives and livelihood.
Sybase 365 Mobile Commerce platform, the industry's first integrated mobile commerce solution, includes a wide-array of services including mobile banking, mobile payments and mobile money. The platform supports services via SMS, USSD, mobile browser, and smartphone app, and works with the broadest range of mobile devices, on any mobile network, and with any language and currency, around the world. The platform truly empowers the mobile economy by allowing anyone with a mobile device to pay, buy, bank and remit money.
About ONE Bank Limited
ONE Bank Limited, a leading Private Sector Commercial Banks in the country, which commenced its banking operation on July 14, 1999 and stepped into its 12th year of operation with highly satisfactory business record of accomplishment. The bank is sponsored by a group of local and non-resident prominent Industrialists, Businessmen and highly qualified professionals who have already carved niche in their respective fields, patronizing high level of ethics and professional skills for the bank.
OBL, the first local bank to have installed a fully integrated computerized system for day-to-day functions and operation and offer Real Time On-Line Banking Services free of charge. At present, OBL has a network of 58 branches and 9 booths across the country in all major business hubs and more branches will become operational throughout the country by the end of the year.
About Sybase 365
Sybase 365, a subsidiary of Sybase, Inc. (an SAP company; NYSE: SAP), is the global leader in enabling mobile information services for mobile operators, financial institutions and enterprises. We provide our customers with the widest offering in SMS, MMS, GRX, IPX interoperability, end-to-end mobile commerce solutions, innovative mCRM, mobile marketing and content delivery services. Sybase 365 processes more than 1.8 billion messages per day, reaching 900 operators and 5.5 billion subscribers around the world. For more information, visit: www.sybase.com/365. Read our blogs: blogs.sybase.com.
SOURCE Sybase 365
CONTACT: Jann Yip, Sybase Public Relations, +65 6571 3500, jann.yip@sybase.com, Gene Vallejo-Yeo / Lavanya Indralingam, Bite Communications for Sybase 365, +65 6323 7377, gene.yeo@bitecommunications.com, lavanya.indralingam@bitecommunications.com
Web Site: www.sybase.com
