COVID-19 and FinTechs in Bangladesh—impact and resilience

• by Samveet Sahoo and Anik Muntasir Chowdhury
• Nov 22, 2021
• 1 min
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The COVID-19 pandemic had a pronounced effect on FinTechs in Bangladesh. MSC sought to evaluate the extent of this impact, given our partnering role in the DFS and FinTech ecosystem in the country. MSC conducted this landscape study on FinTechs with support from Visa in 2021. This report defines the impact of COVID-19 on FinTechs and identifies the possible way forward.

The COVID-19 pandemic had a pronounced effect on FinTechs in Bangladesh. As an enabling partner and active advocate of the digital financial services (DFS) and FinTech ecosystem of Bangladesh, MSC sought to evaluate the extent of this impact. We conducted this landscape study on FinTechs in 2021 with Visa’s support. We worked with representatives of FinTech, regulators, accelerators, incubators, and the investor community. As a global leader in the payments space, Visa also shared its expertise with MSC. We synthesized insights and sentiment from the local market with global best practices to outline actionable pathways toward building resilience for FinTechs in a post-pandemic world. The phase 2 report evaluates the impact of COVID-19 on FinTechs in Bangladesh and uncovers routes to building resilience.

The report from the first phase study is available on the MSC website