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Speakers at the Bangladesh Fintech Summit said about 60 per cent of mobile banking transactions in Bangladesh are made through feature phones, showing that simple devices still play a big role in financial inclusion.
They said digital banking is cutting costs and simplifying services, helping people access banking more easily and affordably.
The information came at the Bangladesh Fintech Summit, held on Saturday at a city hotel. The event was organised by the Bangladesh Brand Forum with support from Mastercard and Prime Bank PLC. This year’s theme was “The Future of Fintech: Digital, Decentralised, Democratised.”
Bangladesh Bank Governor Ahsan H. Mansur presented the Fintech Awards at the event. He praised local fintech entrepreneurs and urged greater use of digital tools to build a cashless society.
Mansur said digital banking will soon begin operating nationwide, supported by agent banking networks and QR-based payment systems.
ICT Division Secretary Shish Haider Chowdhury called for more innovation to build a strong and inclusive fintech sector.
Osman Ershad Faiz, Additional Managing Director of Eastern Bank PLC, said the growth of digital banking should be complemented by the development of credit, savings, insurance, and wealth management solutions. He added that AI-driven credit scoring, a unified KYC system, and stronger cybersecurity could expand SME lending and help position Bangladesh as a trillion-dollar economy by 2030.
Speakers also discussed the growing interest of small and medium-sized enterprises (SMEs) in digital banking, though only 15 per cent of SMEs currently use such services.
The event concluded with the presentation of awards in 12 categories. Mastercard Bangladesh received the “Most Innovative Fintech Product Design” award for its biometric metal card.