| Pub. Date | : Dec' 2020 |
|---|---|
| Product Name | : The IUP Journal of Case Folio |
| Product Type | : Article |
| Product Code | : IJCF31220 |
| Author Name | : Anil Anirudhan and Sanjib Dutta |
| Availability | : YES |
| Subject/Domain | : Management |
| Download Format | : PDF Format |
| No. of Pages | : 10 |
The case is about bKash, a mobile financial services company in Bangladesh that provided financial services to the underprivileged sections of society in Bangladesh. It provided millions of un-banked customers in the country access to mobile banking services such as operating savings accounts, paying for goods and services, and sending or receiving money in a reliable and efficient mode. The growth of bKash is seen through the entrepreneurial journey of Kamal Quadir, who founded the company in 2011 and was responsible for its growth and success. Various factors contributed to bKash's success and its growth as the number one provider of mobile financial services in Bangladesh. In the future, bKash is poised to utilize the latest technologies such as face recognition technology, block chain technology and IoT to enable more people to come under the ambit of financial inclusion and sustainable development. The case brings to light the role of financial inclusion as a tool in bringing economically vulnerable people into the financial main stream; how mobile banking contributes to the financial inclusion of the masses; the business model in a mobile banking organization; and the channel strategy in mobile banking.
There are many ways to make money and I'm not a saint, but when you do something that has a social uplifting agenda, tremendous progress is possible. It is tremendously exciting that we have done something that has a profound impact on the way common people behave with their finances. And technology allows it. It was not possible earlier. Now it is.1
- Kamal Quadir, CEO and Founder, bKash, in March 2018.
We are having a Facebook experience sitting here in Bangladesh.2
- Kamal Quadir, CEO and Founder, bKash, in March 2018.
We have seen massive changes in the Readymade Garments (RMG) sector of Bangladesh. Previously, factories used to pay through cash or banks, which was troublesome and time-consuming. The wage digitization is benefitting both the workers and the factory owners. Because of the largest distribution network of bKash, Bangladeshi RMG factories are becoming more dynamic with wage digitization solutions.3- Patrizio Pagano, Executive Director, World Bank, in April 2020.