Thrust on building financial ecosystem

Experts have stressed the need for building a financial ecosystem which will provide one stop banking solutions for the first time in Bangladesh
They said the ecosystem based on the current challenges on the financial sectors will solve the fundamental issues and help massive expansion of financial services to rural area.
The opinions came in a road-show, arranged by M2M Group in The Westin Hotel Dhaka recently.
Commerce Minister Tofail Ahmed, MP, was the chief guest while Hosne Ara Begum, ndc, Managing Director, Hi-Tech Park Authority, Government of Bangladesh was the special guest.
Top functionaries of 45 private and public banks in Bangladesh, local prominent businessmen and high government officials attended.
M2M Group is bringing state of the art technology partnership with Technomedia Limited and Vibrant Bangladesh to build a financial ecosystem which will provide one stop banking solutions for the first time in Bangladesh, said a statement.
Vibrant Bangladesh is building the ecosystem based on the current challenges on the financial sectors which will solve the fundamental issues and helping massive expansion of financial services to rural area.
Currently more than 300 entities run M2M solutions for issuing, acquiring and securing their multi-channel e-transactions in more than 50 countries. MX Payment™ leverages over 30 years expertise in the payment industry worldwide.
It combines extensive functional coverage and high-performance capabilities to provide banks, retailers, telecom operators and payment processors advanced reliability, enhanced profitability and applied innovation.
They use the group solutions to manage innovative services of greater diversity and to process higher transactions volumes across more platforms and geographies More than 320 experts and consultants with supplier partners and integrators worldwide, M2M can fulfill client's needs regardless of origins and location.
Mr. Mohamed Moukhlis, General Manager, Business Development, M2M Group demonstrated other e-services like transportations and education along with central e-government services which they have deployed in Europe, Asia, Africa and now implementing in South America.
He strongly believes, this services can be integrated with other mutualised platform in Bangladesh to boost up government e-services like others countries.
Mr. Mohamed Touhami Elouazzani, General Manager, Global Markets and partnerships, M2M Group outlined the fact that, the trends of electronic payments is targeting the support of government and financial institutions to grow financial inclusion.
One of the high priority of M2M Group is to have an inclusive approach integrating traditional players and FinTech's to answer the need of the clients into the financial ecosystem in Bangladesh.
Mr. Joshoda Jibon Debnath, Managing Director, Technomedia Limited presented the key banking solutions of the last one decade including cheque-book printing, money loading to ATM, CDM services, fully-managed services for ATM accounting for 65 per cent ATM market share in Bangladesh.
He also presented Technomedia's vision to build a real financial ecosystem for banking clients.