Prime Agrim

Prime Agrim

Innovation Name: Prime Agrim
Category: Best Innovation in Finance
Company: Prime Bank Ltd.


The content of this case study was written by the representatives of Prime Agrim

Prime Agrim is an AI driven innovative instant & digital nano loan service provided to support the lives of the working class, particularly blue-collar workers using an alternative credit scoring technology.
Features of Prime Agrim:
● Instant access to finance up to BDT 10,000 for blue-collar workers
● Payable on next salary day
● Alternative way of analyzing credit worthiness
● Promote financial literacy
● No financial transaction history required
● Simple, easy and fully digital loan


To create the leading digital nano financing service platform in Bangladesh powered by AGAM’s digital platform, primarily focusing on the employed low-income community. The credit is provided on the basis of applying AGAM’s proprietary Individual Independence Index (III) and interactive financial education counseling. Prime reasons behind launching of Prime Agrim:


● To assist those who have no access to finance through formal channels.
● Research showed low-income workers tend to run into financial deficits halfway through the month.
● For those who mostly rely on informal lenders with high interest rates which leads to perpetual poverty.
● Existing Micro Finance Institutions (MFIs) are also providing loans at very high interest rates (24% to 30%) with complex terms and conditions.


The Idea
Backed by Prime Bank’s beneficiary friendly and market leading digital loan products, Prime Agrim uses advanced Artificial Intelligence (AI) and Machine Learning (ML) algorithms to determine Alternative Credit Scoring of the potential beneficiaries for their credit eligibility. Beneficiaries can apply for credit using their smartphones on the go and by answering some psychometric questions and judging their existing financial profile. Their creditworthiness is assessed digitally and the credit is disbursed to their synced bank account without any hassle. The complete customer journey is very user friendly, easy to understand and fully digital.


● Our first concern during app development was to make a digital platform for such a unique segment of population who are not used to technologically advanced platforms, hence, making the UI/UX completely Bangla and as simple and easy to operate as possible.
● Another major step in the execution was to successfully develop an alternative credit scoring method to offer loans without any transaction history checking.
● Furthermore, from the get go we wanted to develop a mechanism that bypasses lengthy documentation processes to digitize the entire lending process.
● We utilized an assisted training program (via volunteers from the RMG factories) to ensure health safety by avoiding mass gathering.
Value Addition
Onboarding an entirely new segment of customers’ under PBL’s banking umbrella those who were deprived previously.
● Giving back to our RMG workers. Despite the fact that a major portion of our economy is being built on the hard work of our RMG workers, previously no financial institute came forward with any products designed specifically for them. Prime Agrim intends to change that scenario.
● Tutorials about financial literacy have been included in the app; hence the app will also promote financial literacy among this lesser solvent segment of the population.
Result and Impact
Total Loan Disbursed: 1,000+
Average Ticket Size: BDT 2,736
Total Disbursed Amount: BDT 2.7 million+
Successful Repayment: 99.01%