Emergence of FinTech Ecosystem: A Case Study of 'bKash' in Bangladesh

Md Saikat Hosen; Md. Habibur Rahman

doi:10.18034/abr.v13i2.686

Authors

Md Saikat Hosen College of Management, Capital Normal University, Haidian District, Beijing, China
Md. Habibur Rahman Faculty of Business, ASA University Bangladesh, Dhaka 1207, Bangladesh

DOI:

https://doi.org/10.18034/abr.v13i2.686

Keywords:

FinTech, Ecosystem, Bangladesh, bKash

Abstract

The cutting-edge economy has a lot of new wheels that turn the fortune of contemporary times. Monetary innovation is no question one of those. The new credit-only economy depends on these computerized monetary administrations. As of late, financial organizations, particularly banks, have become more subject to these howdy tech administrations. For the review, the information has been gathered by poll overview utilizing the positioned technique for examination utilizing SPSS, in which IT-related individuals have been studied. The study explains the characteristics and features of FinTech ecosystems emerging in Bangladesh. The "bKash" in Bangladesh is particularly appropriate for our research as it seeks to become a world-class Fintech hub for innovation by capitalizing on the opportunities brought by global technological trends. The study uses the CAS process model for analyzing biological systems, difficulties, and possibilities of fintech, especially bKash in Bangladesh. The results show that bKash has a promising future can significantly uplift Bangladesh's economy.

Downloads

Download data is not yet available.

References

Ahmed, O., & Rahman, B. (2020). Employees of Commercial Banks Learning to Unlearn: A Case Study on The Impact of Electronic Banking in The Commercial Banks of Bangladesh. International Journal of Business and Technopreneurship, 10(1), 31-50.

Albarrak, M. S., & Alokley, S. A. (2021). FinTech: Ecosystem, Opportunities, and Challenges in Saudi Arabia. Journal of Risk and Financial Management, 14(10), 460.

Ashraf, S. (2019). Intellectual Capital in Fin-Tech Services: A Study on Selected Firms of Bangladesh. Journal Of Business Studies, XI(3), 23-38.

Azim, G. I. A. (2019). Promoting digital finance innovations through regulatory sandbox in Bangladesh: The next steps. In 1st International FIN-B Financial Inclusion Conference and Inclusion Fair, Dhaka.

Baddam, P. R. (2017). Pushing the Boundaries: Advanced Game Development in Unity. International Journal of Reciprocal Symmetry and Theoretical Physics, 4, 29-37. https://upright.pub/index.php/ijrstp/article/view/109

Baddam, P. R. (2020). Cyber Sentinel Chronicles: Navigating Ethical Hacking’s Role in Fortifying Digital Security. Asian Journal of Humanity, Art and Literature, 7(2), 147-158. https://doi.org/10.18034/ajhal.v7i2.712

Bahrami, H., & Evans, S. (1995). Flexible re-cycling and high-technology entrepreneurship. California Management Review, 37(3), 62-89.

Boamah, E. F., Murshid, N. S., & Mozumder, M. G. (2021). A network understanding of FinTech (in) capabilities in the global South. Applied Geography, 135, 102538.

Casti, J. L. (1994). Complexification: Explaining a paradoxical world through the science of surprise.

Chakraborti, A. (2020). The promise of FinTech for Bangladesh. The Daily Star, p. 1. Retrieved from https://www.thedailystar.net/business/the-promise-fintech-bangladesh-1602703

Dekkati, S. (2021). Python Programming Language for Data-Driven Web Applications. International Journal of Reciprocal Symmetry and Theoretical Physics, 8, 1–10. https://upright.pub/index.php/ijrstp/article/view/90

Dekkati, S. (2022). Automotive Software Engineering: Real-World Necessity and Significance. Engineering International, 10(1), 33–44. https://doi.org/10.18034/ei.v10i1.674

Dekkati, S., Gutlapalli, S. S., Thaduri, U. R., & Ballamudi, V. K. R. (2022). AI and Machine Learning for Remote Suspicious Action Detection and Recognition. ABC Journal of Advanced Research, 11(2), 97-102. https://doi.org/10.18034/abcjar.v11i2.694

Dhar, V., & Stein, R. (2016). FinTech Platforms and Strategy. SSRN Electronic Journal.

Drummer, D., Jerenz, A., Siebelt, P., & Thaten, M. (2016). FinTech – Challenges and Opportunities.

Ellis, B. S., & Herbert, S. (2010). Complex adaptive systems (CAS): an overview of key elements, characteristics, and application to management theory. Journal of Innovation in Health Informatics, 19(1), 33-37.

Goldstein, I., Jiang, W., & Karolyi, G. A. (2019). To FinTech and beyond. The Review of Financial Studies, 32(5), 1647-1661.

Hasan, R. (2021). Factors Affecting Adoption of Fintech in Bangladesh. International Journal of Science and Business, 5(9), 156-164.

Holland, J. H. (2002). Complex adaptive systems and spontaneous emergence. In Complexity and industrial clusters. Physica-Verlag HD. pp. 25-34.

Islam, M. (2019). Seamless Finance and Opportunities Fintech in Bangladesh. Fintech, 30(2).

Kaluvakuri, S., & Vadiyala, V. R. (2016). Harnessing the Potential of CSS: An Exhaustive Reference for Web Styling. Engineering International, 4(2), 95–110. https://doi.org/10.18034/ei.v4i2.682

Khan, A. G., Mahmud, M. S., & Lima, R. P. (2020). Investigating the relationship between service quality and customer satisfaction of BKash in Bangladesh. International Journal of Financial Services Management, 10(1), 1-17.

Kolesova, I. V., & Girzheva, Y. S. (2018). Impact of financial technologies on the banking sector. KnE Social Sciences, 215-220.

Lal, K., Thaduri, U. R., & Dekkati, S. (2022). Internet of Things and Blockchain Revolutionary Integration in the Business and Financial Sector. Asian Business Review, 12(3), 81–88. https://doi.org/10.18034/abr.v12i3.664

Lao, G., Xiao, L., Wang, Q., & Qin, Z. (2008). Research on organizational knowledge sharing framework based on CAS theory. In 2008 International Conference on Service Systems and Service Management. IEEE. pp. 1-6.

Lee, I., & Shin, Y. J. (2018). Fintech: Ecosystem, business models, investment decisions, and challenges. Business Horizons, 61(1), 35-46.

Lissack, M. R., & Letiche, H. (2002). Complexity, emergence, resilience, and coherence: Gaining perspective on organizations and their study. Emergence, A Journal of Complexity Issues in Organizations and Management, 4(3), 72-94.

Mahadasa, R. (2016). Blockchain Integration in Cloud Computing: A Promising Approach for Data Integrity and Trust. Technology & Management Review, 1, 14-20. https://upright.pub/index.php/tmr/article/view/113

Mahadasa, R. (2017). Decoding the Future: Artificial Intelligence in Healthcare. Malaysian Journal of Medical and Biological Research, 4(2), 167-174. https://mjmbr.my/index.php/mjmbr/article/view/683

Mahadasa, R., & Surarapu, P. (2016). Toward Green Clouds: Sustainable Practices and Energy-Efficient Solutions in Cloud Computing. Asia Pacific Journal of Energy and Environment, 3(2), 83-88. https://doi.org/10.18034/apjee.v3i2.713

Mahadasa, R., Surarapu, P., Vadiyala, V. R., & Baddam, P. R. (2020). Utilization of Agricultural Drones in Farming by Harnessing the Power of Aerial Intelligence. Malaysian Journal of Medical and Biological Research, 7(2), 135-144. https://mjmbr.my/index.php/mjmbr/article/view/684

Mandapuram, M., Mahadasa, R., & Surarapu, P. (2019). Evolution of Smart Farming: Integrating IoT and AI in Agricultural Engineering. Global Disclosure of Economics and Business, 8(2), 165-178. https://doi.org/10.18034/gdeb.v8i2.714

Mueller, J., Zapkau, F. B., & Schwens, C. (2014). Impact of prior entrepreneurial exposure on entrepreneurial intention—cross-cultural evidence. Journal of Enterprising Culture, 22(03), 251-282.

Muthukannan, P., Tan, B., Gozman, D., & Johnson, L. (2020). The emergence of a fintech ecosystem: A case study of the Bangladesh Fintech Valley in India. Information & Management, 57(8), 103385.

Nuyens, H. (2019). How disruptive are FinTech and digital for banks and regulators? Journal of risk management in financial institutions, 12(3), 217-222.

Puschmann, T. (2017). Fintech. Business & Information Systems Engineering, 59(1), 69-76.

Rahman, A. M. (2020). bKash vs. Bank-led Option: Factors Influencing Customer’s Preferences–Does it Warrant Voluntary-Insurance-Policy for Rapid-growth Digital-banking in Bangladesh-economy? Journal of Banking and Financial Economics, 1(13), 51-69.

Rahman, S. S., & Dekkati, S. (2022). Revolutionizing Commerce: The Dynamics and Future of E-Commerce Web Applications. Asian Journal of Applied Science and Engineering, 11(1), 65–73. https://doi.org/10.18034/ajase.v11i1.58

Ravenswood, K. (2011). Eisenhardt's impact on theory in case study research. Journal of Business Research, 64(7), 680-686.

Rouf, M. A., Babu, M. A., Khatun, M. A., Rasel, M., & Kumar, A. (2019). Measuring Customer’s Satisfaction Level and Service Gap Between bKash and Rocket in Bangladesh.'. American journal of marketing research, 5(2), 29-35.

Rouse, W. B. (2007). Complex engineered, organizational and natural systems: Issues underlying the Complexity of systems and fundamental research needed to address these issues. Systems engineering, 10(3), 260-271.

Surarapu, P., Mahadasa, R., & Dekkati, S. (2018). Examination of Nascent Technologies in E-Accounting: A Study on the Prospective Trajectory of Accounting. Asian Accounting and Auditing Advancement, 9(1), 89–100. https://4ajournal.com/article/view/83

Vadiyala, V. R. (2017). Essential Pillars of Software Engineering: A Comprehensive Exploration of Fundamental Concepts. ABC Research Alert, 5(3), 56–66. https://doi.org/10.18034/ra.v5i3.655

Vadiyala, V. R., & Baddam, P. R. (2017). Mastering JavaScript’s Full Potential to Become a Web Development Giant. Technology & Management Review, 2, 13-24. https://upright.pub/index.php/tmr/article/view/108

Vadiyala, V. R., Baddam, P. R., & Kaluvakuri, S. (2016). Demystifying Google Cloud: A Comprehensive Review of Cloud Computing Services. Asian Journal of Applied Science and Engineering, 5(1), 207–218. https://doi.org/10.18034/ajase.v5i1.80

Zapkau, F. B., Schwens, C., Steinmetz, H., & Kabst, R. (2015). Disentangling the effect of prior entrepreneurial exposure on entrepreneurial intention. Journal of Business Research, 68(3), 639-653.