Sybase 365, a subsidiary of Sybase, Inc., the global leader in mobile messaging and mobile commerce services, today announced it has been selected by Dutch-Bangla Bank Limited (DBBL), one of Bangladesh's largest banks, for its mobile banking platform.
"Sybase 365's platform allows us to deliver the best possible mobile banking services to our customers," said Abul Kashem Md. Shirin, Deputy Managing Director, DBBL. "Bank-led mobile banking is the standard worldwide and we hope that efforts to pioneer mBanking will propel other banks to adopt similar services and accelerate the process of financial inclusion in other developing markets."
There are around 160 million people in Bangladesh, of which, only 13 per cent have bank accounts. By using Sybase 365® mBanking platform, DBBL can now reach the rural and unbanked population, of which 45 per cent are mobile phone users. With capabilities to conduct local and international money remittance, Bangladeshi expatriates will also be able to easily remit money to the mobile accounts of their families, who can then make a withdrawal at the nearest retailer or cash point. The service will be available on all mobile devices with subscription to any of the six mobile operators of Bangladesh.
This business model supports the under-served base of the economic pyramid in Bangladesh, where millions have limited access to financial services. This latest agreement reaffirms Sybase 365's commitment to strengthen relationships with partners in developing markets, helping local banks drive subscriber loyalty and new revenue streams for growth by enabling accessible and secure mobile commerce services.
"We are pleased to be part of this major milestone in transforming the financial ecosystem in Bangladesh," said Matthew Talbot, Senior Vice President, mCommerce, Sybase 365. "Our expertise in both software and mobile services combined with unparalleled global reach, gives us a distinct advantage in providing a fully integrated end-to-end mCommerce solution for financial institutions, mobile operators and merchants."
As mobile banking continues to progress in Bangladesh, DBBL with Sybase 365 will roll out the next phase of services allowing customers to conduct mobile airtime top-up, merchant payment and micro financing from their mobile device.