Agrani Bank

Agrani Bank

Company Type


Singapore to Bangladesh, Send

Business Problem
Efficiency to support high volume, support for branch network, improve customer service

Hosted (SaaS)

300% growth, significant cost reduction, 5 star customer service through staff empowerment, enhanced brand recognition, fraud mitigation

One of Bangladesh’s Most Powerful Brands Adopts the RemitONE Platform

Agrani Bank, one of the largest banks in Bangladesh chose RemitONE’s industry leading money transfer platform in 2009 to streamline business operations in the Singapore to Bangladesh corridor and create & pay-out transactions effectively through agents worldwide. By centralising data they were able to service an increasing number of customers and ensure optimum satisfaction.


Agrani Bank is one of the largest state-owned commercial banks in Bangladesh. With over 1,200 branches across the country, they have considerable reach and influence. They operate their global remittance business with over 100 exchange houses and partners.

They wanted to streamline their high volume remittance operations for Singapore to Bangladesh corridor and improve customer service.

Business Challenge

More specifically, they required:

  • A platform to expand their global remittance business from Singapore
  • Implement a real-time, fast, reliable & secure system to automate the manual process of handling transactions
  • Introduce optimised account transfer and instant cash facilities for beneficiaries in Bangladesh in minutes
  • Empower staff to help customers effectively
  • A system capable of handling thousands of customers a day
  • Easy data migration from their old system to the new platform

Money Transfer Solution

RemitONE provide Agrani Bank with the following solutions:

  1. Money Transfer Engine™ (MTE), the industry leading money transfer platform used by banks and MTOs worldwide.
  2. Agent Remittance Manager™ (ARM), an agent based money transfer system, to allow Agrani’s branch tellers to create transactions in a secure and compliant manner
  3. Hosted (SaaS) platform

Agrani Bank now has an end–to-end, real-time money transfer system that offers the following features:

  • A fast, reliable, secure, and easy to use money transfer management system that handles bi-directional transactions with multi-country and multi-currency support
  • A fully compliant system with inbuilt KYC and AML functionality including checks against OFAC, PEPs, HM Treasury lists and rules regulated by the Central Bank of Singapore
  • A robust platform that can handle thousands of transactions each day

Business Benefits

Since adopting the RemitONE platform, Agrani Bank has realised the following benefits:

Significant cost reduction. With the latest remittance technologies, Agrani Bank has automated several labour intensive tasks. They are now able to offer more competitive rates and pass on a portion of the savings to customers, thereby improving customer loyalty.

Agent empowerment and fraud mitigation. Agents using Agent Remittance Manager™ have greater control over transaction creation, management and processing. Agrani Bank is able to enforce KYC and AML procedures on their agent network with ease and mitigate fraud.

Staff empowerment. With the RemitONE system, their business critical information is managed in a centralised manner and is instantly available to the right member of staff at the right time, thereby supporting better customer service.

Expansion of branch network and remittance corridors. Planning to open more branches in Singapore with new remittance corridors in India, Indonesia and the Philippines.

We have been able to increase the number of transactions by over 400%, remitted amount by over 200% and profitability by 150% while keeping the remittance charges the same... Since adopting this system we have received a 5 star customer satisfaction rating based on customer feedback. Moreover, the level of one-to-one support we receive from RemitONE is unparalleled.

Ali Hossain Prodhania, Head of International Division Agrani Bank