Speakers at a roundtable on Monday said use of fintech could significantly reduce the high cost of small loans.
The experts also said fintech can reduce the risk and time in disbursing loans to micro and small enterprises.
The Bangladesh Institute of Capital Market (BICM) organised the roundtable - "Access to finance for microenterprises in Bangladesh: Can financial technology be the answer?"
The speakers opined that only introducing digital technology in finance would not facilitate everyone's digital transactions, but all stakeholders also require a favourable mindset to adopt the technology.
They noted that the banks and financial institutions should have the right kind of products for their customers in line with changing digital technology.
Speaking at the programme, former executive director of Institute of Microfinance Professor Dr M A Baqui Khalily said the government does not give due credit to the microcredit sector.
Commenting on the contribution of microfinance for social development, he said adding up digital technology to micro-finance institutions (MFIs) would bring a lot of changes in the sector.
"I am very optimistic about fintech."
The Bangladesh Bank (BB) should take some pre-emptive actions to outsmart the regulatees, he added.
General Manager of BB Payment Systems Department Md Mezbaul Haque said a total digital ecosystem is required to harvest the result of digital payment systems.
"The BB alone can't create the ecosystem. It is accountability of everyone concerned."
He also emphasised changing mindset of all to create the digital ecosystem.
"Some banks still pay salaries to their employees through cheques, then how will digitisation work?" he added.
Among others, SME Foundation General Manager Md Nazeem Hasan Satter, Brac Bank Head of SME Syed Abul Momen, UDDIPON Executive Director Bidyut K Basu, and POPI Director Moshihur Rahman spoke at the event.
Dr Suborna Barua, a research fellow at the BICM and an associate professor at the University of Dhaka, moderated the session.
The event was chaired by BICM Executive President Professor Dr Mahmuda Akter; while Dr Shahadat Khan, Chief Executive Officer of Progoti Systems Limited, presented the keynote.
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