Powering the Digital Leap of One of Bangladesh’s Largest Remittance Banks

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Executive Summary

Agrani Exchange House, a subsidiary of Agrani Bank PLC, needed a fast and secure way to keep remittances flowing when COVID-19 lockdowns shut down physical counters. FlexM delivered a fully white-label digital remittance platform, powered by a scalable cross-border remittance cloud solution that enabled automated KYC, biometric login, and reliable transfers. Tens of thousands of users quickly adopted the Agrani Remit app, ensuring safe, uninterrupted remittances during a critical moment for Bangladeshi expatriates and their families.

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Introduction 

More than $240 million in remittances were collected by Agrani Bank PLC in November 2025. This figure reflects the scale of Bangladesh’s global expatriate workforce and highlights the critical importance of secure and efficient formal remittance channels. Before 2020, most of Agrani Exchange House’s Singapore operations relied entirely on physical counters. A modern, secure and compliant digital remittance platform had become essential.

When the COVID-19 lockdowns hit Singapore, these physical constraints became immediate barriers for migrant workers, especially Bangladeshi laborers in Singapore, who suddenly had no way to send money home. Call centers were overwhelmed. Compliance queues doubled. And remittance volumes, historically a major driver of Agrani’s inflows,started slipping.

Agrani Exchange House, a 100% subsidiary of Agrani Bank, needed a secure and compliant Cross-border remittance fintech solution that could be deployed rapidly and responsibly. FlexM, with it’s remittance solution FlexRemit, became the technology partner supporting this transformation.

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The Challenge: A Remittance Engine Stuck in the Past

Before partnering with FlexM, Agrani Exchange (Agrani Bank’s Singapore subsidiary) operated almost entirely through physical channels:

• 100% manual onboarding with paper forms and photocopied IDs
• Dependence on counter staff for verification and transaction creation
• Limited operating hours
• Batch-based reconciliation instead of real-time visibility
• 2–3 day settlement times for major corridors
• Rising compliance costs due to manual AML reviews

The bank knew a digital leap was inevitable, but building an end-to-end remittance platform in-house would take months to years, require specialist compliance engineering talent, and cost several million dollars.

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Why Agrani Chose FlexM

Agrani evaluated multiple vendors, including traditional banking software providers and also explored developing their own digital remittance app, but internal estimates suggested a timeline of 12–18 months with heavy engineering, compliance, and integration requirements.

FlexM offered something different:

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1. Ready-to-deploy, cloud-based remittance engine: FlexM provided a ready-to-use, digital remittance platform FlexRemit, that allowed Agrani Exchange to shift from counters to cloud without operational disruption.
2. Speed to market: FlexM’s Fintech-as-a-Service architecture allowed Agrani to launch in just weeks compared to building in-house.
3. Compliance baked into the core: Automated KYC, biometric authentication, AML screening, and sanctions checks, drastically reduced manual review workload.
4. A fully white-label app that felt uniquely “Agrani”: Custom branding, multilingual interfaces, and UX built specifically for migrant workers allowed the app to feel familiar on day one.
5. Settlement rails already connected to key payout partners: With pre-integrated settlement and payout infrastructure, Agrani could begin processing safe cloud remittance payments immediately without establishing new partnerships or technical connectors.
6. Real-time FX and corridor control: The platform gave Agrani full flexibility to manage exchange rates, fees, and corridor rules in real time, improving operational control for the bank.
7. A partner with proven regional experience: FlexM’s track record powering digital remittances for banks and fintechs across Asia gave Agrani the confidence that the solution was reliable, scalable, and ready for high-volume use.

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The Solution: Agrani Remit — A Modern, Mobile-First Remittance Experience

FlexM built Agrani Remit, a white-label remittance app designed for migrant workers and their families. Not just a front-end interface, but an entire cross-border remittance cloud solution ecosystem behind the scenes. 

Key capabilities included:

• Digital onboarding & biometric login for reducing KYC friction
• Instant top-up options via bank transfers, cards, and e-wallets
• Real-time FX engine with margin controls and approval workflows
• Automated KYC/AML screening with 24/7 monitoring
• Transparent fee breakdowns & live tracking
• Multilingual chat support which was vital for first-time digital users
• Compliance automation embedded at every step
• 99.7% uptime powered by FlexM’s cloud-native infrastructure

The entire solution ran on FlexM’s scalable backend:

Core Remittance Engine → Compliance Layer → Settlement & Ledger → FX → Mobile UI → Agent Console

Even more impressive: Agrani Exchange House’s core banking did not require major rework. FlexM integrated with existing rails through secure APIs, minimizing operational disruption while delivering a fully cloud-based Cross-border remittance fintech service.

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“The Agrani Remit app is an excellent example of how digital innovation helped the Bangladeshis working in Singapore to digitally and conveniently remit money back to their family members safely.” -

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Mohammad Shams-Ul Islam

MD & CEO, Agrani Bank Limited

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And users responded immediately.

During the worst months of the pandemic, when workers were confined to dormitories and job sites, Agrani Remit became their lifeline.

As of 2025:

• The app has crossed 50,000+ downloads
• Maintains a 4.8★ rating from over 9,400 reviews

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FlexM was recognized globally as well, as the app won the MAS Fintech Award 2020 at the Singapore FinTech Festival, ranking 3rd out of 326 innovations across 55 countries.

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Implementation: From Concept to Launch in Record Time

FlexM worked closely with Agrani’s Singapore team to design a solution that respected regulatory requirements in both Singapore and Bangladesh.

The rollout included:

• Core system integration
• KYC workflow customization
• FX configuration and limit controls
• Branding, UI, and UX tailored for migrant workers
• End-to-end QA and load testing
• Security hardening and MAS-aligned controls

Agrani’s team often mentions how unusually smooth the process felt for such a complex Cross-border remittance fintech implementation.

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The Impact: Digital Remittance Became Agrani’s Growth Engine

The numbers tell a powerful story.

• Reduction in operational cost per transaction:
  thanks to automation and lower dependence on staffing.
• Increase in monthly digital remittance volume:
  ~4X within the first year, driven by accessibility and faster transfers.
• Processing speed:
  Transfers that once took 2–3 days could now arrive in minutes, depending on the corridor.
• Customer adoption:
  Customer satisfaction surged, with over 95% positive app ratings
• Reputation boost:
  Award-winning recognition from MAS and positive public perception as one of the first state-owned Bangladeshi banks to offer a modern digital remittance platform.
• Remittance dominance:
  Agrani Bank continues as one of the top remittance collectors in Bangladesh, receiving the Top Ten Remittance Silver Award 2025.

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A Partnership Built on Trust and Execution

What makes this story compelling isn’t just the metrics, it’s the people it impacted.

A migrant worker who once stood in line every week during the most difficult COVID times can now send money with just a fingerprint.

A mother in Dinajpur receives funds instantly instead of days later.

A bank that relied on manual workflows now operates a modern, efficient, and compliant digital remittance engine.

FlexM helped Agrani Bank make that leap at the exact moment it mattered most. From the very first day, the app handled peak load without interruption. Even during migrant salary cycles, which are traditionally the busiest and most demanding periods, system uptime remained consistently at 99.7%.

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Future Outlook

FlexM’s modular architecture positions Agrani Exchange House for continued digital growth. Additional corridors, bill payments, SME payouts, loyalty features, and more than eighty international utility services can be activated without major redesign. This creates a sustainable foundation for long-term expansion through a modern cross-border remittance cloud solution.

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Conclusion

Agrani Remit stands as a clear example of how a traditional, counter-based remittance business can make a rapid and effective transition to digital delivery. FlexM is proud to have supported Agrani Exchange House in this journey by providing the technology foundation needed to keep remittances flowing safely, securely and without interruption. This collaboration demonstrates how carefully implemented cloud technology can uplift both operational stability and customer experience in cross-border remittance services.

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