MM Rahmatullah: Bangladesh’s financial technology sector is entering a new phase of development, with industry leaders calling for stronger digital infrastructure, wider financial inclusion, enhanced customer protection and responsible adoption of artificial intelligence (AI) to build a more accessible and trusted financial system.

These priorities emerged at the Mastercard Presents 6th Bangladesh Fintech Summit, held at Radisson Blu Water Garden Hotel in Dhaka on Saturday. The day-long event brought together banking and fintech executives, investors, regulators, technology specialists, startup founders and academics to discuss the opportunities and challenges shaping the country’s digital financial transformation.

Initiated by Bangladesh Fintech Forum and organised by Bangladesh Brand Forum, the summit highlighted the need to move beyond basic digital adoption towards reliable, secure and customer-focused financial services that can support Bangladesh’s evolving economy.

As digital payments, mobile financial services and technology-driven banking continue to reshape the financial landscape, participants discussed how innovation could make transactions easier, extend services to underserved communities and strengthen confidence in digital finance.

Welcoming participants, Sajid Mahbub, Group Chief Executive Officer and Executive Editor of Bangladesh Brand Forum, said the next phase of the country’s fintech journey would depend on translating digital adoption into lasting financial capabilities.

He stressed that innovation should make financial services more accessible and useful while reinforcing public trust, requiring coordinated efforts among financial institutions, entrepreneurs and policymakers.

The summit featured two keynote sessions, three panel discussions, an expert deep dive, an insight session and a case study, covering regional banking trends, digital bank development, AI-driven services and the regulatory foundations of financial innovation.

Keynote speakers Naushad Hussain, a former senior banking and payments executive with experience at CIMB Group and other financial technology organisations, and Khuan Yew Lee, Executive Director and Regional Head of Product at GXBank, GXS Bank and Grab, shared perspectives on the changing banking landscape across ASEAN and South Asia.

Their sessions examined the convergence of banking services across regional markets and the journey of building a digital bank from its inception to one million customers.

The discussions highlighted the importance of customer-focused product development, reliable technology and consumer confidence in expanding digital financial services.

For Bangladesh, the experiences of regional markets offer potential lessons in developing innovative banking products, improving service delivery and reaching customers who remain underserved by traditional financial institutions.

Artificial intelligence featured prominently in discussions about the future of banking and financial services.

Gazi Yar Mohammed, Co-founder and CEO of Kube Money, Co-founder of Dana Fintech and former Executive Vice-President and Head of Digital Financial Services at One Bank Limited, led an expert session on the shift from automation to agentic intelligence.

The session explored how increasingly autonomous AI systems could influence the operations of banks and fintech companies, including their potential to streamline processes and support more responsive financial services.

However, the discussions also underscored the importance of appropriate governance, data protection and consumer safeguards as financial institutions adopt more advanced technologies.

For Bangladesh, the challenge will be to harness AI’s potential while ensuring that technological progress does not undermine transparency, accountability or customer confidence.

Another major focus was the role of cashless transactions, digital banks and interoperable payment systems in expanding access to financial services.

Speakers discussed how improved interoperability—the ability of different financial platforms and payment systems to work together—could help extend digital transactions to the next 100 million people.

A more connected payment ecosystem could make it easier for individuals and businesses to transfer money across platforms, potentially reducing transaction barriers and improving convenience.

Such developments could be particularly significant for small businesses, rural communities and people with limited access to conventional banking services.

Participants also examined the need for secure and scalable financial infrastructure capable of supporting the growing volume and complexity of digital transactions.

The summit addressed regulatory sandboxes, AI governance, data protection and consumer protection as essential elements of a sustainable fintech ecosystem.

Regulatory sandboxes allow financial technology companies to test innovative products and services within a controlled regulatory environment. Such arrangements can help regulators understand emerging technologies while enabling businesses to develop new solutions responsibly.

Speakers also considered how appropriate safeguards could encourage innovation without exposing customers to unnecessary financial, technological or privacy risks.

Building consumer confidence will remain critical as more people use digital platforms for payments, savings, banking and other financial activities. Reliable services, transparent practices and effective protection against fraud and misuse of personal data are central to that effort.

The summit brought together prominent representatives from banking, payments, insurance, technology and academia.

Among the speakers were Osman Ershad Faiz, Managing Director and CEO of Dhaka Bank PLC; Mohammad Ali, Managing Director and CEO of Pubali Bank PLC; Syed Mahbubur Rahman, Managing Director and CEO of Mutual Trust Bank PLC; and Farzanah Chowdhury, Managing Director and CEO of Green Delta Insurance PLC.

Other participants included Ali Reza Iftekhar, adviser to Bank Asia PLC and former Managing Director and CEO of Eastern Bank PLC; Shyamol B. Das, Managing Director and CEO of UCB Fintech Company Ltd. (upay); Zakia Sultana Laboni, Country Manager of Mastercard Bangladesh; and Yousup Faruqu, CEO of Raptas and former Managing Director of Microsoft Bangladesh, Bhutan and Nepal.

Professor Imran Rahman, Dean of Business and Policy Adviser at Independent University, Bangladesh, and a board member of BRAC University, also contributed to the discussions.

Their participation brought together perspectives from financial institutions, payment networks, insurance providers, technology companies and academia on the practical requirements for advancing Bangladesh’s digital financial ecosystem.

The summit was held at a time when digital transformation is becoming increasingly important to the competitiveness of financial institutions and the wider economy. For Bangladesh, the potential benefits extend beyond faster payments to include more efficient business transactions, improved access to financial services and greater opportunities for technology-driven entrepreneurship.

Realising these benefits, however, will require investment in infrastructure, skilled professionals, cybersecurity, effective regulation and services designed around customers’ needs.

The discussions at the sixth Bangladesh Fintech Summit reinforced the importance of cooperation among banks, fintech companies, regulators and technology providers in creating a system that is both innovative and dependable.

The summit was initiated by Bangladesh Fintech Forum and organised by Bangladesh Brand Forum, with Mastercard as presenting partner, Dhaka Bank PLC as powered-by partner and upay as an associate partner.

Brain Station 23 supported the event, Bangladesh Innovation Conclave served as innovation partner, Turkish Airlines as official carrier partner, Radisson Blu Water Garden Hotel, Dhaka as hospitality partner, and Backpage PR as public relations partner.

As Bangladesh advances towards a more digitally connected economy, the sector’s next challenge will be to ensure that technological innovation translates into practical benefits for citizens and businesses while maintaining the security, trust and resilience needed for long-term growth.