Staff Reporter, Dhaka : BRAC Bank’s Digital Onboarding platform is rapidly reshaping how small and medium enterprises (SMEs) access banking services in Bangladesh.

Designed to simplify business account opening, the platform has seen strong adoption among grassroots entrepreneurs, marking a significant step forward in the country’s financial inclusion journey.

As one of the first initiatives of its kind, the platform enables entrepreneurs to open SME accounts within minutes. What once required multiple visits and several days can now be completed in a few simple steps. Since its pilot
launch in 2025, more than 50,000 SME accounts have been opened digitally -demonstrating both demand for and trust in faster, more convenient banking solutions.

The process fully complies with Bangladesh Bank regulations while leveraging secure digital infrastructure, resulting in improved service speed and higher customer satisfaction.

Syed Abu Rassel, Founder of Artistic Studio and Construction, recently experienced the change firsthand. “Opening accounts at other banks used to take days. With BRAC Bank, I received confirmation within an hour and started using the account immediately through the Astha App. It has made banking simple and efficient for my business,” he said.

Explaining the rationale behind the initiative, Syed Abdul Momen, Additional Managing Director and Head of SME Banking, said: “Our goal has always been to make banking easier for entrepreneurs. Digital Onboarding reduces
complexity, shortens turnaround time, and significantly improves customer experience.”

He added that while account numbers are now issued almost instantly, all remaining formalities are completed within three working days – less than half the time required under conventional processes. The reduced paperwork also supports environmental sustainability.

BRAC Bank currently serves around 250,000 SME customers. By the end of 2025, its SME loan portfolio grew nearly 48% year-on-year to exceed Tk 35,000 crore, while maintaining a non-performing loan ratio of just 2% – one of
the lowest in the industry. SME customer deposits at the bank reached nearly to Tk 19,000 crore over the same period, reflecting deposit growth of approximately 22%, the highest among the country’s leading banks.

Tareq Refat Ullah Khan, Managing Director and CEO of BRAC Bank, said: “Guided by the vision of our founder, Sir Fazle Hasan Abed, we have prioritised the SME sector from the outset. Digital Onboarding reflects that
commitment, delivering faster, more accessible, and higher-quality banking services to entrepreneurs who have long been underserved.”

“Digital Onboarding is a natural extension of our mission to support entrepreneurs with better, faster, and more accessible banking services,” he said. “It has improved customer satisfaction while enhancing efficiency across
our operations.”

BRAC Bank aims to bring 100,000 more SME entrepreneurs into the formal banking system through this digital platform, further advancing financial inclusion and supporting the growth of digital economy of Bangladesh.