RemitOne

Agrani Bank

Background

Agrani Bank are one of the largest commercial banks in Bangladesh. With their 867 branches spread out across almost all the major commercial centres in the country, they have considerable reach and influence. Agrani Bank also operate their remittance business with a number of exchange houses overseas. These exchange houses serve the many Bangladeshi nationals who live and work abroad, and need to send money back home to their families.

Agrani Bank plan to expand their operations in Europe, Malaysia and the Middle-East in the very near future.

Business Challenge

Agrani Bank wanted to streamline their remittance operations and improve customer service. To achieve these objectives, they had to address four major challenges:

Previously, most money transfers were processed manually across Agrani Bank’s remittance centres due to which it would take up to four days for beneficiaries to receive funds. Agrani Bank wanted to offer their customers popular same day services such as spot cash within minutes.

Agrani Bank wanted to be able to communicate and collaborate information accurately, rapidly and reliably among their 867 branches. They wanted to ensure that the right information is delivered to the right branch at the right time using advanced auto-routing features.

Some Agrani Bank branches could expect up to 2,000 customers on certain days, making it very difficult for their staff to serve them. Agrani Bank wanted to empower their staff to help customers as effectively as possible.

Agrani Bank wanted to have a sophisticated money transfer management system that could be easily used by their staff. They wanted the system to be user-friendly so staff could rapidly learn how to use it, which in turn could save them time and cost.

Solution: RemitONE Money Transfer Management Solution (MTMS)

Agrani Bank engaged RemitONE to provide them with an end-to-end, web-based money transfer management solution to address their business challenges.

The RemitONE MTMS was delivered on time and met the demands. In addition, Agrani Bank are very pleased with the level of support they received from RemitONE.

Business Benefits

With the RemitONE MTMS, Agrani Bank now offer a set of advanced, enhanced, rapid and secure services to their customers, including:

• Enhanced customer experience due to the following impressive same day services:

  Spot Cash remittance for both account holders and non-account holders

  Instant SMS notifications after successful processing of transactions

• Improved remittance delivery options for remitters to choose from and to make it easier for beneficiaries to collect their funds
• Significantly reduced processing costs due to automation of all remittance-related tasks
• Improved business process management due to business-critical information being instantly available to the right staff member at the right branch
• Empowered business users who can tend to a multitude of customers in a highly effective and efficient manner
• Rapidly increasing ROI through rapid execution of various remittance operations, tasks and activities

Commenting on the solution, Mr. Ali Hossain Prodhania, CEO Agrani Exchange (Singapore), said "We are very impressed with the RemitONE MTMS which has enabled us to offer a significantly enhanced customer service. We have witnessed a 25-30% increase in revenues since adopting this system. Moreover, the level of one-to-one support we receive from RemitONE is unparalleled."

Future Plans

Agrani Bank are actively working to become the foremost remittance provider in all Bangladesh through effective market penetration. They plan to open more overseas exchange houses in important locations and forge strategic alliances with major global remittance companies sending money to Bangladesh.

With 867 branches across the country and now an end-to-end, fast and reliable technology solution by RemitONE, Agrani Bank are certainly placed well in the remittance industry to achieve their business goals.