A focus group on “Digital Banking for All” brought experts together to say that clear policies, stronger trust and better infrastructure can help millions join the formal financial system. The group made it clear that digital banking tools already exist, but people still face problems like hard registration steps, worries about data safety, weak internet in some places and the high cost of smartphones. Speakers said these gaps mean many people still keep cash at home instead of using banks and fewer transactions happen online than they could. Officials and industry leaders agreed that making services easier to use and safer would help more people send money, save, pay bills and get loans. One presenter noted that large amounts of money move outside banks right now, and that putting even a part of that cash into digital services would expand the market and help the whole economy. They urged the government, banks and fintech firms to work together on rules that make systems work well together, protect users and stop fraud. One important step they mentioned is stronger data protection and better monitoring to keep customer details safe. They said a personal data protection law is coming, and that when it is in place people may feel more comfortable using apps and online services. Experts also recommended more help to teach people how to use digital tools and to make mobile services affordable so that older adults, rural families and small shop owners can join in. Mobile financial services already reach many people, but more than a few still do not use them, often because they worry about security or do not have a phone that can run the apps. Speakers suggested low-cost devices, wider internet access and programs that build trust between customers and providers. Industry figures shared that the regional digital banking market is growing fast and may expand a lot in coming years, and that Bangladesh’s digital banking could grow into a market worth billions of dollars if it taps the right opportunities. The talk included advice to improve bank oversight, build a stronger cyber security network and design simple, one-stop platforms that give citizens many services from a single place. Panelists said the public, private and academic sectors must plan together so that systems are interoperable and can scale up smoothly. They left the audience with a hopeful note that with clear rules, better phones and stronger security, digital banking can reach more people, reduce reliance on cash and make daily finance easier and safer for all. Achieving this will also create jobs, help small businesses grow and make money transfers faster and cheaper across cities and rural areas. Communities and families stand to benefit too.
