Speakers at a recent workshop in Dhaka urged fast action to use tech-based initiatives to boost the flow of remittance money to Bangladesh, saying modern tools can make transfers cheaper, safer and quicker for families. Representatives from banks, money transfer operators and mobile financial services described how app-based payments, digital wallets, improved cross-border links and better use of data can cut waiting times and fees. They noted that many expatriates now choose services that are instant, low-cost and easy to use, so the country must offer simple and secure options that work with existing wallets and bank accounts. Panelists highlighted the role of mobile operators and fintech firms in building ways for remitters to send money directly to recipients’ mobile wallets or bank accounts, and they called for common standards so different services can work together without extra steps. Industry experts also said stronger verification and fraud checks, backed by automation, will help protect users and boost trust in formal channels. Officials said using technology to smooth the cash payout process, speed up know-your-customer checks and provide clear tracking for senders would draw more funds away from informal routes and into the legal system, where they strengthen the economy. Speakers suggested targeted steps such as shared APIs, lower transfer fees, real-time settlement between banks, fixed local pickup points and training for agents and users in rural areas. They also pointed to the benefits of offering savings and credit options tied to remittance receipts so families can use incoming money for home repairs, school fees or small businesses. For regulators and policy makers, the message was to create a friendly but safe environment where innovation can grow, including clear rules for cross-border payments, faster licensing for trusted partners and pilot programmes to test new ideas. Such measures, the workshop argued, would not only help households but also support the wider economy by increasing investment, supporting small firms and improving foreign exchange reserves. Attendees welcomed the idea of closer cooperation across banks, fintechs and global money transfer companies to deliver better value to senders and recipients. They asked banks and remittance firms to run simple public campaigns that show how to send money using apps, how fees work, and how to avoid scams, because clear guidance helps people choose formal channels. Community training, easy help desks at banks and partnerships with employers abroad can make a big difference, while small incentives such as reduced fees for first-time digital users and timed discounts during festivals could attract many senders to legal services, and boost resilience. With practical steps and steady investment in digital systems, speakers said Bangladesh can make remittance channels more modern, inclusive and reliable for millions of families across the country.
