‘Inter-operator transactions' crucial in unlocking full potential of digital banking

Analysts at a seminar have said Bangladesh must ensure security and introduce “inter-operator transactions” to tap into the potential of digital banking. Speaking at “Digital Banking for All: Bridging Gap in Financial Inclusion” on Thursday, speakers said one reason digital banking has yet to reach the desired level in Bangladesh is a lack of public trust. In his keynote, Sanjid Hossain, head of commercial partnerships of mobile operator Robi Axiata, said Bangladesh’s progress in the $20.43 billion global digital banking market remains minimal. “One major factor is online fraud. About 40 percent of the population does not use banking services, and public trust has not grown yet,” he said. He added that Bangladesh’s digital banking market could grow to $30...