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Mobile banking in Bangladesh: An opportunity with constraints?

Apr 24th, 2023 • by Jeffrey R. Bloem and Khandker Wahedur Rahman

Digital financial services (DFS), particularly mobile banking, have the potential to extend financial services to unbanked populations.[1] Specifically, DFS reduce direct and indirect transaction costs. Mobile banking allows clients to access bank accounts, save money, and send and receive payments directly from their mobile phones, eliminating travel to a physical bank. Additionally, mobile banking reduces social or administrative constraints—such as in-person meetings and paperwork, and safety concerns while travelling with money—which can be especially salient for women.