Sonali Bank, the largest state-owned commercial bank in the country, has introduced its own payment switch to enhance the reliability, security, and speed of digital transactions. This initiative allows the bank’s customers to conduct transactions using debit, credit, prepaid, and virtual cards entirely through Sonali Bank’s proprietary technology, eliminating the need for third-party services. Consequently, customer transaction data will be more secure, transaction speeds will improve, and the bank will be able to issue and process cards more swiftly.

Sonali Bank stated that the introduction of this payment switch will not only enhance customer service quality but also lower operational costs. Specifically, concerns regarding card-related issues, delays, or data security will be significantly reduced. Additionally, the bank has commenced the establishment of 155 new ATM booths nationwide to ensure 24-hour service, making cash withdrawals more convenient for customers.

In its pursuit of advancing digital banking, Sonali Bank has introduced the Bangla QR Code, effective since 2023. This innovation facilitates cashless transactions, contributing to Bangladesh’s transition towards a cashless economy. The bank’s Managing Director and CEO, Md. Shawkat Ali Khan, stated, “The launch of our own payment switch will enable us to provide quicker and more secure services to our clients.

This represents not only a technological leap but also a significant step in enhancing customer service quality.” He further mentioned that Sonali Bank aims to consolidate all digital banking services for its customers in the future. Given the rising demand for secure digital transactions and automated services, this initiative by Sonali Bank marks a pivotal moment for both the bank and the broader banking sector in Bangladesh.