Internet banking transactions in Bangladesh surged by 61.8% in October, 2023, reaching a record Tk 78,863 crore, up from Tk 48,716 crore in September. The number of transactions crossed 1 crore in November, reflecting the growing adoption of digital technologies for financial activities.
The rise is attributed to tech-savvy individuals, particularly the younger generation, preferring digital platforms for banking. Standard Chartered, the pioneer of internet banking in Bangladesh, introduced the concept two decades ago, contributing to rapid growth. The widespread availability of smartphones and an expanding internet user base further facilitate internet banking adoption.
The service offers convenience, flexibility, and time savings for both customers and banks, attracting those seeking quick and hassle-free banking services. Internet banking customers in Bangladesh nearly tripled from March 2020 to October 2023, reaching 80 lakh. The real-time gross settlement system recorded transactions worth Tk 5.18 lakh crore in October, reflecting a 7% increase from September. Introduced in 2015, the RTGS system facilitates real-time settlement for high-value time-critical payments.
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