Nagad has launched a redesigned mobile application featuring artificial intelligence (AI)-powered fraud detection and enhanced security, as the mobile financial service of the Bangladesh Postal Department moves to simplify digital transactions and expand its financial offerings.
The updated app, launched on Tuesday, 13 October, is available on Google Play Store and Apple App Store, with customers required to install the latest version before making new transactions to ensure uninterrupted services, Nagad said in a press release issued in Dhaka.
The platform features a redesigned interface aimed at reducing transaction times and improving accessibility, particularly for marginalised users. Frequently used services have been reorganised to make everyday transactions more convenient.
Nagad said the new application delivers significantly lower response times, loading delays and lag compared with other financial service apps.
The app supports payments, money transfers, mobile recharges, cash-outs, utility bill payments and interoperability services, giving customers access to essential transactions through a single platform.
Nagad also plans to introduce loans, fixed deposits and insurance services shortly, expanding the range of financial products available through the application.
Security is a central feature of the redesign. The app introduces device binding to protect customer accounts, alongside a multilayered security framework built around international standards.
Nagad said its advanced fraud-prevention technology incorporates AI to identify suspicious activity in real time and counter transaction fraud and AI-based hacking attempts.
The company described the redesigned platform as one of the safest applications in the country’s financial sector, saying the measures were intended to strengthen account protection and customer confidence.
Bangladesh Bank-appointed Nagad Administrator Md Motasem Billah said the redesign prioritised customer convenience without compromising financial security.
“We have combined a modern user-friendly experience with a robust security framework in the new app,” he said.
Billah said the changes would allow customers to complete daily transactions more quickly while keeping their personal information and money secure.
He said Nagad aimed to build an integrated financial ecosystem allowing customers to conduct all their daily financial transactions through a single application.
The company plans to introduce additional services, security enhancements and usability improvements in phases to meet evolving customer needs and support Bangladesh’s transition towards a cashless society.
