Case Study: IFIC Bank expands financial inclusion with Finastra digital banking solutions

IFIC Bank onboarded 3,000 new customers a month with Finastra

IFIC Bank, a financial institution in Bangladesh, faced the challenge of a large unbanked adult population and sought to increase financial inclusion by expanding its retail services. To help more people access vital financial services and achieve their personal goals, the bank partnered with vendor Finastra and leveraged its Fusion Digital Channels solution to develop innovative digital offerings.

By implementing Finastra's Fusion Digital Channels, IFIC Bank launched the Aamar account, a digital service enabling customers to open an account with a minimal deposit and manage finances via mobile devices. This solution from Finastra yielded significant results, onboarding an average of 3,000 new customers each month and accumulating a total balance of BDT 3,236.14 crore across over 131,000 accounts by the end of 2019, successfully expanding the bank's market share and contributing to economic development.

IFIC Bank