Experts at a seminar said that Bangladesh needs to strengthen the use of digital finance and fintech while ensuring secure data management, interoperability and technological capacity to build a future-ready banking system, says BSS report.
The seminar titled “Digital Finance, Fintech and Future of Banking in Bangladesh” was held at the Bangladesh Bank Training Academy (BBTA) auditorium on September 29, according to a press release issued today.
Bangladesh Bank Deputy Governor Dr Md Habibur Rahman attended the seminar as the chief guest, while BBTA Executive Director Md Obayed Ullah Chowdhury delivered the welcome address.
DataSoft Systems Bangladesh Limited President Muhammad Manzur Mahmud presented the keynote paper, highlighting the current trends in digital finance and fintech, the use of technology in Bangladesh’s financial sector, the rapid expansion of digital banking and the potential for technology-driven innovation in the future banking system.
A panel discussion followed the keynote presentation, with participation from Dhaka Bank PLC Managing Director Osman Ershad Foyez, Bangladesh Bank Executive Director Md Ashraful Alam, BIBM Senior Faculty Md Ashraful Alam (on deputation), Bangladesh Bank Executive Director (ICT) Debdulal Ray, and Nagad Administrator and Bangladesh Bank Executive Director Md Motasim Billah. The session was moderated by BBTA Executive Director Md Obayed Ullah Chowdhury.
The speakers stressed the importance of the effective and appropriate use of technology in expanding digital finance and fintech, developing innovative financial services and preparing the banking sector for the future.
They also discussed the need for “One Person, One ID,” improved data management and secure data sharing, wider use of artificial intelligence and ensuring interoperability among financial service providers.
They emphasised that banks and financial institutions need to enhance their technological capacity in line with rapid technological changes and expand innovative financial services to meet evolving customer needs.
Participants later took part in a question-and-answer session on digital finance, fintech, digital banking and technology-based financial services, with the seminar speakers and panelists responding to their queries.
Bangladesh Bank executive directors and directors, along with faculty members of the BBTA, attended the seminar.