Integrating digital payments in the microfinance sector can save work hours, enhance productivity, simplify instalment and deposit collection, ensure 24/7 transaction reporting, reduce cash-carrying risk, and increase efficiency of cash management, experts said at a seminar.
The seminar was jointly organised by bKash and DataSoft to raise awareness on digital payments at a city hotel recently, says a press release.
They said digital payments will ensure overall efficiency and bring dynamism to the country's microcredit activities.
They also discussed about making overall microcredit activities more effective, efficient, easier, faster and safer through digital transactions.
Representatives from different Microfinance Institutes (MFIs) using Microfin360 solution by DataSoft participated in the seminar.
Kamal Quadir, Chief Executive Officer (CEO) of bKash, M Manjur Mahmud, President of DataSoft Systems, Ali Ahmmed, Chief Commercial Officer (CCO) of bKash, among other top officials were present on the occasion.
Meanwhile, Mahfuzur Rahman Chowdhury, Executive Director of Muslim Aid Bangladesh and Md Moshihur Rahman, Microfinance Director of People's Oriented Program Implementation (POPI) also spoke on digital inclusion in microcredit activities.
Besides, Farmina Hossain, Operations Director of BURO Bangladesh, Mifta Naim Huda, Executive Director of Centre for Development Innovation and Practices (CDIP) and A.K.M Shirajul Islam, Executive Director of BASA Foundation also addressed the programme through a video message. DataSoft has long been providing data management and accounting system services to various MFIs through their Microfin360 solution. Around 10 million customers of more than 200 MFIs use DataSoft's solution to enjoy hassle-free loan instalment repayment through bKash, saving valuable time and cost. They also said that the joint service of bKash and DataSoft will add a new dimension to the microcredit activities conducted across the country.