Bangladesh - A brilliant example of financial inclusion
The solution for unbanked people in developing countries like Bangladesh and India has been pioneered by these mobile services. Bangladesh's right policies to support these initiatives have helped 55% of Bangladesh's people get financial inclusion.
Companies like, bKash, Rocket, Nagad in Bangladesh and Paytm in India have received tremendous success in this region. The application of technologies in financial services is not new, but these companies represent a paradigm shift. Shameem Ahsan, General Partner of Pegasus Tech Ventures said this at the Annual event of India FinTech Forum held in Mumbai India on 29th November 2019.
He was invited to a panel discussion on "How can global startups access the Indian fintech ecosystem and Indian startups explore international markets?" at the event.
The panel was moderated by AmolDethe, Editor - Economic Times and ShankerSubramaniam, Country Manager - India & Singapore, invest in Denmark; PavitraWalvekar, Co-Founder and CEO, Kudos; and Vishal Kanvaty, SVP - Product & Innovation, National Payments Corporation of India (NPCI) were the other panelists.
Shameem Ahsan proposed that the regional organizations like BIMSTEC and SAARC facilitate cross-border payments and e-commerce byincorporating fintech solutions and increasing ease of doing business in the region infront of international industry experts and policymakers.
The India FinTech Forum has more than 450 fintech companies and over 5000 individuals who are members of this forum are dedicated to enhancing the fintech ecosystem. The 4th edition of IFTA is organized by India FinTech Forum in partnership with Government of Maharashtra,Ministry of Foreign Affairs Denmark, Copenhagen Fintech and Paris Fintech Forum among many international partners.