IBBL Cellfin App for all Banking Solution for 2.7 million users
The advent of technology has led to a significant shift in consumers’ behavior when it comes to financial services. Nowadays, customers seek fast, easy, and reliable solutions. As a response to the increasing demand for seamless services, the financial technology (fintech) sector has flourished, enhancing the quality of services offered by banks. To stay competitive against the rapid growth of fintech companies, banks must adapt and provide superior services, especially in the realm of information technology.
According to a press release, Islami Bank Bangladesh Limited has gained immense popularity with its omnichannel banking app, Cellfin, which was launched in November 2020. The app has now garnered an impressive user base of 2.7 million individuals.
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Cellfin is a comprehensive platform that offers a wide range of financial services. Upon registration, users instantly receive a virtual prepaid card powered by Visa or MasterCard. Additionally, they can also access a virtual dual currency prepaid card. What sets Cellfin apart is that anyone, regardless of whether they are an account holder or not, can use the app. It is functional in the USA, Singapore, Australia, as well as several Middle Eastern and European countries.
Operating on an electronic KYC mechanism, Cellfin enables users to open various types of IBBL accounts without the need to visit branches physically. Users can efficiently manage their savings accounts, check balances, view statements and transactions, and request cheque books, all through the app.
Cellfin also offers diverse payment and transaction services. Customers can make instant fund transfers to any bank account, card, or mobile financial service such as mCash, bKash, and Nagad. Adding money is simple, whether from a bank card, IBBL savings account, or mCash. Cash-in and cash-out can be done through IBBL branches, ATMs/CRMs, or Agent outlets. Moreover, money can be sent as a cash-by-code to individuals without a card/account, and they can withdraw it from ATMs. Foreign remittances can be received through a secret PIN or the VISA Direct channel.
The app’s versatility extends to e-commerce payments through QR codes and online gateways, mobile recharge, purchasing tickets, and paying school and college fees. Additionally, users can conveniently settle bills for various utility services, credit card bills, passport fees, VAT, taxes, and government fees through the A-challan feature on the Cellfin app. It even allows users to record complaints for failed transactions.
The banking industry is witnessing a transformation driven by changing consumer preferences and expectations. As customers increasingly opt for cashless transactions, the demand for traditional banking services associated with cash payments is declining. Cellfin has successfully seized this opportunity and has attracted a growing number of users.
Around 5.5 lakh customers have already opened accounts with IBBL through the Cellfin app, and this number continues to rise steadily. The Cellfin app is playing a vital role in building a cashless society and contributing to the vision of a Smart Bangladesh. The app’s positive impact is accelerating the process of building a digitally advanced nation.
