DIGITAL BANKING-The Way Forward for Bangladesh

hinese people identified us (Bangladeshi people) as “Manjala” – meaning low and flat land people. This is one of the major benefits of our land in terms of doing marketing, communication, training, BTL and other activities. Apart from that, we are homogenous, talking in the same language in almost all of the country, predominantly Muslim, and festivity or event celebrations are in our blood.

Since 1990, technology started taking a pivotal role to change our social structure and life. This has started from using computers, internet, and mobile phones. But one sector, which demonstrated slower transformation compared to the other sectors is the financial sector. Banking played a crucial role in our financial sector, but they couldn’t play a significant role in increasing financial inclusivity much till 2010. Since 2011 inclusivity increased significantly based on MFS offerings through mobile phones.

Financial sector is now showing signs of new transformations by adopting new technologies. It is evident that financial sector will become more and more technology focused, or technology oriented. Many technology-based Fintech company can and will provide service to different operators to reach a critical mass through technology and retail network – provided regulatory barriers are not hindering them.

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