Mobile financial services (MFS) provider Nagad Wednesday said it brought 50,800 customers under its network on average every day in the last four years.
Nagad's registered customers now stand at around 7.43 crore after its inauguration in 2019.
The MFS said its average transactions reach Tk1,000 crore a day and at times surpass the amount.
Tanvir A Mishuk, founder and managing director of Nagad, said: "We are providing our customers with quality services at the lowest costs in the market, and it has been possible because we use state-of-the-art technologies."
The introduction of the electronic know-your-customer (e-KYC) by Nagad brought an end to cumbersome paperwork in opening an account. Customers can open accounts within a minute by taking a photo of their national identity card and a selfie using their smartphones.
Other MFS providers and banks adopted the e-KYC innovated by Nagad, which reduced their costs of doing business.
Later, to bring many feature phone users to rural areas under financial inclusion, Nagad made agreements with Bangladesh Telecommunication Regulatory Commission and telecom operators to add all mobile subscribers to its platform.
A Nagad account can now be opened by simply dialling *167# from their feature phones without using a mobile application.
The MFS said it is now working to set up a digital bank to bring all financial services to people's fingertips.