The country’s first-ever satellite, Bangabandhu Satellite-1 (BS1) is now eyeing to minimize cyber crimes in the banking sector.
It can play a vital role in strengthening automated teller machines (ATM) and online transactions of the banks.
At the ongoing 25th Dhaka International Trade Fair, the country’s two leading banks are providing online services through the BS-1.
Officials of the Bangabandhu Communication Satellite Company Limited (BCSCL) have confirmed this.
They said after television, the banking sector could be a major domestic sector for the satellite.
It was learned that in the meantime, some leading banks are directly optimistic to take its service to increase their service quality and reduce threats of cyberattack. Sonali, Brac and Dutch-Bangla Bank are using the satellite’s service experimentally.
As per the BCSCL information, it was learned that for the last two months, Sonali Bank is providing banking service at its Mohakhali Branch using the satellite experimentally.
According to banking concerned, as of now, banks are providing services through the internet (cable connected), and if any cable is cut off, its service is hampered, but if the satellite is used in this regard, bank service quality will increase for sure. At the same time, no one will be able to spy on any account and withdraw cash amount secretly.
DCSCL chairman Dr Shahjahan Mahmood told Bangladesh Post, “Our satellite provides uninterrupted services, hence banking sector can choose our satellite to secure banking services. This will be the biggest sector for us”.
“With the bandwidth of BS-1, it is possible to create a more secure internet banking system, including ATM networks in the country. Because, BS-1 will guarantee a separate and own network system for the banks rather than cable internet connection,” he added.
“If we can take our own individual network from bank to ATM booths, we can minimize the risk of cyber-attacks. In the meantime, a good number of banks have shown interest to take BS-1 services,” he further added.
“For this kind of service, more VSAT needs to be collected to connect the banks with the satellite service. As some banks have already shown interest in satellite services, I hope, like television, gradually other banks will come forward to receive its service,” he concluded.
Located at the 119.1 east geostationary slots, BS-I would cover the SAARC countries and Indonesia, the Philippines, Myanmar, Tajikistan, Kyrgyzstan, Uzbekistan, Turkestan and a part of Kazakhstan.
The coverage is the strongest in Indonesia, the Philippines, India, Sri Lanka, Nepal and Bhutan, for which these six countries have initially been chosen for the business.
The satellite’s operations include “direct-to-home” service for TV channels, VSAT (very small aperture terminal), backhaul and network restoration, disaster preparedness and relief and many others.
