Bangladesh-based AB Bank PLC has launched the pilot phase of a new digital lending platform that uses artificial intelligence to automate loan approvals and disbursements, underscoring the growing adoption of AI-powered financial services across emerging markets.
The bank said its new service, called “AB e-Loan,” is integrated into its digital banking platform, AB Direct, allowing customers to apply for and receive loans through a fully digital process.
The platform is powered by flxCred, an AI-driven digital lending solution developed in partnership with Filps Ltd., a UAE-based fintech infrastructure company.
According to the bank, the system enables instant loan processing through automated approval mechanisms and immediate fund disbursement via the AB Direct mobile application.
The launch reflects a broader push by banks across Asia, the Middle East and Africa to digitize consumer lending and reduce the time and paperwork traditionally associated with loan applications.
Financial institutions are increasingly turning to artificial intelligence and automation technologies to streamline credit assessment, improve customer experience and expand access to financial services.
AB Bank said the pilot rollout is intended to provide customers with a seamless and hassle-free borrowing experience while leveraging digital infrastructure to accelerate lending decisions.
The introduction of AI-powered lending tools comes as competition intensifies among banks and fintech firms seeking to capture growing demand for digital financial services.
Automated lending platforms have gained traction in recent years as lenders look to reduce operational costs and deliver faster access to credit.
A launch ceremony was held at AB Bank’s head office to mark the pilot phase of the initiative.
Among those attending the event were Reazul Islam, managing director and chief executive officer (acting) of AB Bank; Mahadev Sarker Sumon, additional managing director; ZM Babar Khan, additional managing director; Daniel Shrestha, chief strategy officer of Filps Ltd.; and Tushar Hasan, the company’s country manager for Bangladesh.
The bank did not disclose financial terms of the partnership or provide details on the planned timeline for a broader commercial rollout of the platform.