Banks need stronger safeguards to harness AI

Bangladesh’s banking and fintech sectors need stronger digital infrastructure, effective regulatory safeguards and greater customer confidence to harness artificial intelligence (AI) and expand cashless financial services, experts said at a fintech summit in Dhaka today.

The remarks came at the sixth Bangladesh Fintech Summit, powered by Dhaka Bank PLC in association with Upay, a mobile financial service provider operated by UCB Fintech Company Limited, held at the Radisson Blu Water Garden Hotel in Dhaka, according to a press release.

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Experts also discussed the challenges of building digital banks and scaling them to one million customers, highlighting the importance of product development, customer trust and reliable financial services.

The discussions focused on how AI and digital banking could reshape financial services over the coming decade. Speakers examined the shift from conventional automation to agentic intelligence and its implications for banks and fintech companies.

In his remarks, Sajid Mahbub, group chief executive officer and executive editor of Bangladesh Brand Forum, said, “The next chapter of Bangladesh’s fintech journey will depend on how effectively we turn digital adoption into lasting financial capability. Innovation must make financial services more useful and accessible, while strengthening the trust people place in them.”

“This requires institutions, entrepreneurs, and policymakers to work together on the infrastructure and standards that will support our financial future,” he added.

Initiated by Bangladesh Fintech Forum and organised by Bangladesh Brand Forum, the summit also examined the convergence of banking across ASEAN and South Asia and opportunities for regional collaboration.

The summit featured two keynote sessions, three panel discussions, an expert deep dive, an insight session and a case study, linking regional banking experience with the practical priorities of Bangladesh’s financial ecosystem.

Osman Ershad Faiz, managing director and CEO of Dhaka Bank PLC; Mohammad Ali, managing director and CEO of Pubali Bank PLC; Syed Mahbubur Rahman, managing director and CEO of Mutual Trust Bank PLC; Farzanah Chowdhury, managing director and CEO of Green Delta Insurance PLC; Ali Reza Iftekhar, adviser to Bank Asia PLC; Shyamol B Das, managing director and CEO of Upay; Zakia Sultana Laboni, country manager of Mastercard Bangladesh; Yousup Faruqu, chief executive officer of Raptas; and Prof Imran Rahman, dean of business and policy adviser at Independent University, Bangladesh, took part in the summit’s discussions.

Naushad Hussain, chief banking and network officer of TransFi Global; Khuan Yew Lee, executive director and regional head of product at GXBank, GXS Bank and Grab; and Gazi Yar Mohammed, co-founder and CEO of Kube Money and co-founder of Dana Fintech, were among the other participants.