The potential data and financial risk of MFS (Mobile Financial Services) in Bangladesh

Abstract

This report is prepared for the partial fulfillment of the course of internship for the degree of Master of Business Administration from BRAC Business School, BRAC University, Dhaka. This report reflects my work experience at bKash. A large section of people in Bangladesh are relying on MFS for necessities like bill payment, money transfers, receiving salaries, and even saving. However, the lack of data protection, which can ultimately cause financial loss to customers, is a big challenge for MFSs. If the customer's data can be protected, a country like Bangladesh, where 85% of people are out of reach of banking services, can become a global leader in the MFS sector. In this report, I tried to show the potential data and financial risks of the MFS industry in Bangladesh. I gathered the data from published online sources and my own experience, and even tried to make some recommendations with the little data I have access to.