Bank of Bhutan Case Study | Modefin


Bank of Bhutan (BoB) is one of the oldest and largest commercial banks in the country. BoB offers a wide range of financial services through a network of 54 branches across Bhutan.

Business Challenge

Being a government bank and one of the oldest in Bhutan, the bank was looking to improve its branding and increase the customer base by delivering intuitive and innovative banking services.

Another important requirement was to offer seamless banking experiences to their customers through a reliable and highly secure mobile banking solution.

The hilly terrain and the climatic conditions in Bhutan was a major challenge for BoB to cater to the banking needs of the people in rural areas. The bank was looking for ways to reach out to the rural population through an agency banking solution.


Modefin integrated a plug-n-play Omni Channel platform as part of the digital banking solution to enable channel banking such as mobile banking and agency banking. The digital banking solution assisted the bank in its digital transformation and overcome the limitations of its legacy system.

Mobile Banking

The mobile banking app enables the bank’s customers to securely access accounts and request for a mini statement, full statement, block card, cheque book, cheque status, forex rates, and interest rates.

Fund Transfer

Own accounts, another BoB branch account, another bank account, add/delete beneficiary

Bill Payments

Users can pay various service providers from the public and private sectors.

Airtime Top-up

Users can do Airtime Top-up for any mobile number.

Card-less withdrawal

Users can generate withdrawal code for withdrawing money at ATM without a card.

Standing Order

Customers can create or stop a standing order


Apply for credit card and view credit card bill payment.


Users can pay their premiums


Users can make timely payment of tax

Agency Banking

The agency banking solution helped the client to unlock remote markets and take their services directly to their customers.

Features of the Agency Banking Solution

Agent services such as checking balance, mini statement, cash in/out, bill payments, airtime top-up, and changing M-pin

Admin module having options for user registration & management, customer registration, agent registration, biller management, SMS alerts, report module, and audit logs.

General Management Functions such as profile editing, changing passwords and PIN, block & unblock passwords and view transactions.

QR Code-based Merchant Payments

Modefin developed a simple payment solution that allows merchants to display a QR Code for accepting payments. An admin console was created for the banks to generate QR codes for merchants.


Modefin’s keyboard banking app provides the bank’s customers with access to informative and transactional services from within any messaging app.

Business Impact

The bank was able to increase its market shares and customer base

Helped BoB provide enhanced customer services

BoB benefitted from the low operational cost of the solution

The digital banking solution helped the bank to increase its business efficiency

Modefin helped the bank to offer seamless customer service across channels

The mBoB app has gained widespread recognition and appreciation from the client’s customers


Bank of Bhutan was the first bank in Bhutan established in 1968. It also functioned as the central bank until 1982. Today, Bank of Bhutan has 54 branches across Bhutan.

All the Banks in Bhutan was manually operated and customers, serviced manually. With the dawn of technologies and penetration of mobile devices, few basic services like balance enquiry was made available through SMS and with time, more automated and user-friendly technologies like ATM and internet banking services were made available.

Customers’ demand kept increasing and time demanded the need of providing more banking services online with maximum convenience to the customers. Amidst cloud of uncertainty, Bank of Bhutan ultimately realized of the competitive advantage we could enjoy by leveraging on mobile technology. Therefore, in order to maintain the competitive edge, BoB partnered with Modefin Private Ltd. (MFS) a software company based in Bangalore, India in its journey to provide robust and efficient customer services.

Bank of Bhutan’s mobile application branded as “mBoB” was launched on 15th May 2015, becoming first bank in Bhutan to embrace mobile technology in the delivery of banking services. With time, BoB continued to add more value-added services in the mobile application in our move to create mBoB as a single platform. Today, BoB have more than one hundred forty thousand accounts operated through mBoB with average daily transaction of close to one hundred thousand. With the introduction of mBoB services, Bank of Bhutan’s operating cost has reduced and has enormously contributed to the promotion of cashless economy and has contributed in evolving as a digital Bhutan. Without the continued support from MFS, our journey thus far would have been difficult. BoB is looking forward for more collaborative efforts in creating mBoB an inclusive single platform towards creating enlightened customer experience.