Conference Paper2023Cited by 2

A Comparative Overview of Local Mobile Financial Services Smartphone Apps Available in Bangladesh

JM Sadik-Ul Islam Smaron, Yousra Tabassum, MM Simoon, Zara Rahman, Lishan Rafid, Ashraful Islam

2023 IEEE 64th International Scientific Conference on Information Technology and Management Science of Riga Technical University (ITMS)

IEEE, pp. 1-6, ISBN: 979-8-3503-7029-4

  • No Poverty — Relevance: 60%
  • Reduced Inequalities — Relevance: 81%
DOI: 10.1109/itms59786.2023.10317677URL

Abstract

The rapid growth of mobile financial services (MFS) contributes toward the revolution of the financial landscape in developing economies, particularly Bangladesh. As a key player in promoting financial inclusion and the rising numbers of smartphone users, MFS smartphone apps have become increasingly popular in the country, catering to the needs of millions of unbanked and underbanked individuals. This paper aims to conduct a comprehensive comparative analysis of the various official MFS apps (n=13) available in Bangladesh, evaluating their features, functionalities, operational aspects, security measures, and overall facilities. The comprehensive exploration identified 18 distinct elements spanning four primary themes that stand out in the functionality of these apps: (1) Money Transfers and Transactions, (2) Financial Services and Bill Payments, (3) Service-related Charges, and (4) Consumer Finance. Each theme brings forth critical insights into the capabilities of these MFS apps, their user-friendliness, and their potential to effectively serve the unbanked and underbanked populations of Bangladesh. This comparative analysis is anticipated to provide valuable insights that can serve as a foundation for future advancements in MFS, fostering financial inclusion and promoting a more efficient and secure digital financial ecosystem in Bangladesh.

Keywords

  • mobile financial services
  • consumer finance
  • bill payment
  • Financial inclusion
  • unbanked and underbanked populations
  • service charges
  • mobile application
  • money transfer
  • Bangladesh

CCDS Authors

Ashraful Islam, PhD
Ashraful Islam

Ashraful Islam, PhD

  • Center Director, CCDS
  • Director, HCI Wing

Assistant Professor

Department of Computer Science and Engineering

Independent University, Bangladesh (IUB)

Published at

CHI, UIST, UbiComp, IJCNN, ICIP, HCII, ICDMW, BLP, IEEE Internet of Things Journal, JMIR, JMIR Human Factors, JMIR Formative Research, IEEE Access, Smart Agricultural Technology, Diabetes Research and Clinical Practice, PLOS ONE

Research Interests

Human-Computer Interaction, AI for Social Good, AI for Public Health, AI for Impact

References

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Cited By

  1. 1.MUHAMMAD ABDUS SALAM, S. M. NAFIZ RAYUN, VAI SHIEM LEONG. (2023). EXAMINING CRITICAL FACTORS INFLUENCING GENERATION Z’S ACCEPTANCE OF MOBILE PAYMENT SYSTEMS IN BANGLADESH: A UTAUT MODEL ANALYSIS. Journal of Business & Economic Analysis, 06(03), 371–400[10.1142/s273756682450004x]
  2. 2.Jahanggir Hossain Setu, Md Junayed Hossain, Ashraful Islam, A. K. M. Mahbubur Rahman, M. Ashraful Amin. (2026). TrueRate: Operationalizing Sentiment Analysis for Accurate Smartphone App Rating Inference. Lecture notes in computer science, 228–247[10.1007/978-3-032-30549-7_14]
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