AI and the future of finance

Artificial intelligence is gradually reshaping Bangladesh's financial sector, and its influence is becoming more noticeable as banks and fintech companies adopt smarter, data-driven solutions. From automated customer service to real-time risk analysis, AI is beginning to redefine how financial institutions operate and interact with clients. Local technology firms such as Intelligent Machines (IM) are playing a key role in this transformation by helping banks and non-bank financial institutions improve efficiency, accuracy, and service delivery.
One notable example is IDLC Finance, which now uses an AI-powered solution called Dharapat to process Credit Information Bureau (CIB) reports in less than 30 minutes. This has dramatically reduced turnaround time, eased operational pressure, and improved decision-making. Similarly, mobile financial service providers like bKash have reportedly seen around a 15 per cent monthly increase in customer onboarding after introducing AI-driven tools. This highlights how artificial intelligence can enhance user experience, reduce manual bottlenecks, and support sustainable business growth.
Globally, AI has become an essential component of the financial industry, particularly in areas such as fraud detection, anti-money laundering, risk management, and personalised banking services. These applications are especially relevant for Bangladesh, where a large portion of the population remains underbanked or outside the formal financial system. By automating routine processes, analysing alternative data for more accurate credit scoring, and offering tailored financial products, AI has the potential to significantly advance financial inclusion, especially for small entrepreneurs and rural communities.
Beyond operational gains, AI also holds strong economic promise. PwC estimates that AI could contribute up to $17 trillion to the global economy by 2030. With the right investment climate, clear regulatory frameworks, and focused skill development, Bangladesh could capture a meaningful share of this value. If implemented responsibly, AI can help build a more inclusive, efficient, and future-ready financial system for the country.
Marjana Ahmed Mantasa
Student
North South University
mantasaahmed@gmail.com