D-Money plans to serve unbanked people

D-Money Bangladesh launched micro-financial services through mobile phones for the first time in the country to serve the unbanked people in remote areas by leveraging technology, says a press release.
D-Money Bangladesh Ltd, a Financial Technology (FinTech) startup, has raised $5 million to start operations in Bangladesh, it added.
D-Money has been founded by Aref R Bashir, managing director and CEO of Syntec, and Sonia Bashir Kabir, managing director of Microsoft Bangladesh and director of Syntec.
To launch the service, D-Money has entered into an agreement with Uddipan Energy Ltd (UEL).
Under this agreement, D-Money will provide services and access to its core digital currency payment network to UDDIPAN beneficiaries in Bangladesh.
The D-Money/Uddipan innovative service delivery agreement's strategic objective is to empower MFI community in Bangladesh and it plans to expand its team rapidly and engage in market awareness activities nationwide while investing in its home grown software platform, the statement said.
The platform will offer loan disbursements/collections, deposit receipts/ refunds, agent banking, merchant acquiring/registration, insurance premium collection/claim settlement and bill payments.
The Beneficiaries will also be able to use their existing feature phones to access Financial Services via the D-Money platform, it added.
Additionally, D-Money will provide electronic KYC compliance and a full range of e-Commerce and other non-core financial activities.
Beneficiaries that do not have access to a smartphone or connectivity for utilisation of the D-Money's m-Wallet will be issued a D-Money NFC enabled chip and pin card for processing transactions through brick and mortar branches and branchless Banking.
Md Emranul Huq Chowdhury, chairperson UEL, said he is happy to be able to provide financial services in a digital form to the under privileged people of Bangladesh with the D-Money.
Aref R Bashir, CEO and managing director of D-Money, said: “We will be working closely with regulators to expand our services to different verticals and customers. I believe we are very well positioned to leverage technology to innovate and bring Financial Services to the last mile.”
“I am ecstatic to announce that we have invested in building a 100 per cent local software and plan to go global. It has always been my passion to bring technology specially to women in Bangladesh and I know D-Money will be the catalyst in changing the game when it comes to our under privileged population,” said Sonia B Kabir.

D-Money plans to serve unbanked people

D-Money Bangladesh launched micro-financial services through mobile phones for the first time in the country to serve the unbanked people in remote areas by leveraging technology, says a press release. D-Money Bangladesh Ltd, a Financial Technology (FinTech) startup, has raised $5 million to start operations in Bangladesh, it added. D-Money has been founded by Aref R Bashir, managing director and CEO of Syntec, and Sonia Bashir Kabir, managing director of Microsoft Bangladesh and director of Syntec. To launch the service, D-Money has entered into an agreement with Uddipan Energy Ltd (UEL). Under this agreement, D-Money will provide services and access to its core digital currency payment network to UDDIPAN beneficiaries in Bangladesh. The D-Money/Uddipan innovative service delivery agreements strategic objective is to empower MFI community in Bangladesh and it plans to expand its team rapidly and engage in market awareness activities nationwide while investing in its home grown software platform, the statement said. The platform will offer loan disbursements/collections, deposit receipts/ refunds, agent banking, merchant acquiring/registration, insurance premium collection/claim settlement and bill payments. The Beneficiaries will also be able to use their existing feature phones to access Financial Services via the D-Money platform, it added. Additionally, D-Money will provide electronic KYC compliance and a full range of e-Commerce and other non-core financial activities. Beneficiaries that do not have access to a smartphone or connectivity for utilisation of the D-Moneys m-Wallet will be issued a D-Money NFC enabled chip and pin card for processing transactions through brick and mortar branches and branchless Banking. Md Emranul Huq Chowdhury, chairperson UEL, said he is happy to be able to provide financial services in a digital form to the under privileged people of Bangladesh with the D-Money. Aref R Bashir, CEO and managing director of D-Money, said: We will be working closely with regulators to expand our services to different verticals and customers. I believe we are very well positioned to leverage technology to innovate and bring Financial Services to the last mile. I am ecstatic to announce that we have invested in building a 100 per cent local software and plan to go global. It has always been my passion to bring technology specially to women in Bangladesh and I know D-Money will be the catalyst in changing the game when it comes to our under privileged population, said Sonia B Kabir.