Case Study: IFIC Bank achieves rapid financial inclusion by onboarding 3,000+ customers monthly with Finastra's Fusion Digital Channels

IFIC Bank brings more people to banking in Bangladesh with new digital services

IFIC Bank, a major commercial bank in Bangladesh, faced the challenge of bringing financial services to the country’s large unbanked and underbanked population. To accelerate digital inclusion, IFIC Bank partnered with Finastra and adopted products including Fusion Equation and Fusion Digital Channels (alongside Fusion Trade Innovation and Fusion Corporate Channels) to build mobile-first services tailored for underserved customers.

Finastra’s solutions were integrated with IFIC’s core systems to launch the IFIC Aamar account—mobile-managed accounts with a 10 taka minimum deposit plus online savings and small-loan capabilities—while digitizing corporate and trade channels. The results: an average of 3,000 new Aamar customers onboarded monthly, a 30% reduction in end-of-day processing, a total Aamar balance of BDT 3,236.14 crore across 131,741 accounts (as of 31 Dec 2019), and over 12,000 school banking accounts created—measurable gains in deposits, market share and financial inclusion driven by Finastra’s platform.

IFIC Bank

Shah Sarwar

Managing Director and CEO