The chasm between conventional banks and innovative fintechs is expanding significantly, as predicted by global futurist Brett King.
Brett King, a globally recognised futurist and expert on banking, fintech, and the future of money, recently visited Bangladesh and shared his vision for the future of banking in the country. During the Bankers' Meet 2025 in Dhaka, King emphasised the importance of embracing AI, digital transformation, and customer-centric innovation to survive and thrive in an evolving global financial landscape.
According to King, the future of banking will be powered by AI and automation, with humans playing a diminishing role. By 2035, he predicts there will be more robots than humans in the banking sector. He emphasised that those who adopt and learn to use AI will outcompete others, as automation reshapes how financial institutions operate.
King strongly advocates for full digital transformation to avoid consolidation or closure in the banking sector. He urged Bangladeshi banks to partner with fintech firms and acquire new capabilities to meet the demands of a digital-savvy population. He cited trends seen in the US banking sector as examples.
The future banking ecosystem should prioritise serving customers better through innovative, tech-enabled solutions. This means rethinking services around digital excellence and inclusion, adapting to the needs of retail and SME customers via AI-led platforms. King also highlighted the importance of including climate-conscious products like green finance and renewable energy investments as part of the banking transformation.
During the event, Filps Limited, a UAE-based fintech firm, showcased digital lending tech and digital customer onboarding solutions. The company announced partnerships with City Bank and AB Bank, with the latter focusing on introducing digital nano loans. Tushar Hasan, country manager (Bangladesh) for Filps, stated a focus on forging deep, enduring relationships with financial institutions.
The partnership with City Bank will power a complete revamp of City Bank's digital banking platform, integrating AI-driven, customer-focused solutions. The event brought together banking leaders and senior executives from Bangladesh's leading financial institutions.
Mashrur Arefin, chairman of the Association of Bankers Bangladesh Limited (ABB), emphasised the significance of such gatherings. King's visit to Bangladesh was facilitated by Filps.
In summary, Brett King envisions a future-ready, AI-powered, and digitally transformed banking sector in Bangladesh, thoroughly aligned with global fintech trends, driven by technology innovation and collaborations, designed to deliver superior customer experiences, and ensure long-term survival.
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