In recent times, advertisements selling customer information of various mobile financial service users have been circulated on social media, raising concern.
A detailed investigation into the matter by Nagad revealed that a certain quarter was attempting to sell “fabricated customer information” through these misleading advertisements. Based on such promotions, certain media outlets published news, while some directly accused Nagad in their reports.
Meanwhile, Nagad has sought the attention of the regulatory authorities and sent a letter in this connection.
Nagad assures the utmost safety of customer information as it has employed state-of-the-art technology. In no situation has any customer’s information ever been unprotected or compromised in Nagad, and there is no possibility of it happening, says a press release on Wednesday.
Nagad, recognised as the country’s fastest unicorn, has consistently been a pioneer in innovations, embracing cutting-edge technology since its inception. It places the highest importance on safeguarding the confidentiality of customer’s personal information. So, all customer data remains completely encrypted, eliminating any potential risk of unauthorised access. The security measures at the company have also garnered satisfaction 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, he added.
“For the past five years, Nagad has worked diligently, earning the trust of each customer, and that’s why we stand here today. 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.