Banking App Users Cross 20 Million

Banking apps are rapidly reshaping digital financial services in Bangladesh, with the number of app users nearly tripling in one year. According to updated Bangladesh Bank data, more than 20.975 million customers used banking apps by the end of July, compared with about 7.166 million in August last year. The increase represents nearly 13.8 million additional users in a year.

Bangladesh Bank data shows that banking app users stood at 8.572 million in November last year. The number jumped to more than 14.9 million in December and continued to rise in the following months. By July, it had reached more than 20.975 million.

Male users accounted for 16.772 million of the total, while female users exceeded 3.8 million. The figures indicate a rapid expansion of app-based banking access, although male customers still make up the larger share of users.

Industry stakeholders attribute part of the growth to the wider adoption of Bangla QR. Bangladesh Bank introduced Bangla QR in 2023 for interoperable code-based transactions. From July 1 this year, all institutions were instructed to process code-based transactions through Bangla QR.

The system allows merchants to receive transaction proceeds quickly into their accounts. Customers can also make QR payments through apps operated by banks or mobile financial service providers. These features have helped expand the use of banking apps for everyday digital payments.

Bangladesh Bank spokesperson and Executive Director Arif Hossain Khan said app-based transactions were once largely associated with mobile financial services. After the introduction of Bangla QR, banks, mobile financial service providers and other institutions began to recognise its wider importance. Banks without their own apps were also instructed to join the system, he said. As a result, both app users and transactions are increasing.

Browser-based internet banking remains another channel, although its user base is declining. By the end of July, browser-based internet banking had 2.489 million users.

Combining app-based and browser-based services, total internet banking customers exceeded 23.464 million in July. The combined number was about 11.967 million in August last year, showing substantial growth in overall internet banking adoption.

Transaction values through banking apps have also increased significantly. Banking apps processed Tk 174,129 crore in transactions in July, compared with Tk 112,304 crore in August last year.

The highest monthly transaction volume was recorded in June, when banking apps handled Tk 184,349 crore. Stakeholders said transactions increased that month because of Eid-ul-Adha, which boosted payments, purchases and money transfers.

The rapid growth in banking app users and transaction values highlights the expanding role of smartphone-based banking in Bangladesh’s digital financial ecosystem. The growing integration of banking apps, Bangla QR and mobile financial services could further expand digital payments for consumers and businesses.
//DBTech/NAP/SMP/MVNO//