Staff Reporter

The Bank of Bhutan (BoB) has unveiled BoBaccount, an innovative online savings account opening service exclusively for Bhutanese citizens.

This new service leverages the Bhutan National Digital Identity (NDI) system, enabling individuals to open savings accounts securely and instantly through a user-friendly digital interface.

The launch of BoBaccount is a major milestone in the BOB’s ongoing digital transformation journey, aimed at enhancing customer convenience while ensuring regulatory compliance

Customers can now initiate the account-opening process online, obtain an account number, and visit the nearest branch at their convenience to complete the final activation, significantly reducing the time taken for account opening.

The BoBaccount service offers a range of features to simplify banking for customers. It allows instant online access, enabling individuals to open accounts from the comfort of their homes or offices.

The service has been designed with a user-friendly interface to ensure a smooth and hassle-free experience. Paperless Know Your Customer verification, using secure digital authentication methods, ensures that the process is both eco-friendly and efficient. Customers also receive real-time notifications to keep them updated throughout the account-opening process.

Dorji Kadin, chief executive officer of BoB, described the launch of BoBaccount as a pivotal step in the institution’s digital transformation journey.  “BoBaccount is a significant step in our journey towards digital transformation. It aligns with our mission to provide innovative and accessible banking solutions that cater to the evolving needs of our customers,” he said.

With BoBaccount now live, BOB has digitised over 98 percent of its services.