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25 April 2024

Business Insider Bangladesh

Customers’ info in Nagad is secured, no chance to be fraud

BI Report || BusinessInsider

Published: 17:00, 13 March 2024  
Customers’ info in Nagad is secured, no chance to be fraud

Photo: Courtesy

In recent times, there have been circulating advertisements on social media selling customer information of various mobile financial service users

A thorough investigation by Nagad has revealed that a certain party was attempting to sell 'fabricated customer information' through these deceptive advertisements.

Several media outlets published news based on such promotions, with some directly accusing Nagad in their reports.

Meanwhile, Nagad has brought this matter to the attention of regulatory authorities and has sent a letter regarding the issue.

Nagad reassures the public of the utmost safety of customer information, highlighting the implementation of state-of-the-art technology.

It is emphasised that at no point has any customer's information been unprotected or compromised in Nagad, and there is no possibility of such an occurrence."

Nagad, recognised as the country’s fastest-growing unicorn, has been a consistent pioneer in innovations, consistently embracing cutting-edge technology since its inception. It places the highest importance on safeguarding the confidentiality of customers' personal information.

As a result, all customer data remains completely encrypted, thereby eliminating any potential risk of unauthorized access.

The security measures implemented by the company have also earned praise from independent security analysts on various occasions.

Talking about the issue, Shyamol B Das, additional managing director (technology) at Nagad, says, “Nagad prioritises the security of customer information above all. Several independent security analysts have expressed satisfaction with our security measures. We have encountered rumours through various social media platforms, but I can assure you that any customer information held by Nagad is never insecure. The technology we employ keeps every piece of information encrypted, making any unauthorised access impossible. Despite that, our security measures have undergone rigorous scrutiny by multiple independent analysts, all of whom have lauded our robust infrastructure. So, I can confidently affirm to customers that there is no possibility of any information leaking from Nagad.”

For the past five years, Nagad has been working diligently, earning the trust of each customer, and that's why we stand here on Wednesday.

As we embrace digital banking, our commitment remains unwavering – conducting business with integrity and ensuring the utmost respect for every facet, especially security,” he also said.

Over the last five years, the country’s mobile financial landscape has gone through robust growth thanks to customer-friendly innovations spearheaded by Nagad.

More than 8.5 crore customers have joined this platform in such a short time.

The simplified account opening process using the latest and safest technology coupled with easy and affordable services has attracted more and more people to come under Nagad's terrain.

The popular MFS operator utilises millions of pieces of information daily.

Nagad has employed the world’s latest technology to keep its customers’ information and identity secure, making it the safest for any customer.

The recent approval for the digital bank launch signifies Nagad’s transformative strides across various fields, simplifying processes such as the distribution of government allowances and stipends.

This remarkable progress has enabled substantial business success in a very short period.