Page 58 - ICE BUSINESS TIMES March 2020

Banking Industry

to increase. Along with the risks, the Why school cricket? school cricket can certainly be a
safety measures too will increase at Cricket is the nation’s favorite sport. initiative that Pr
the same pace, if not faster. Also taking into consideration the considering following a discu
with the cricket board. It would
fact that a large portion of the
The What is your take on population is young, and notable encouraging to revise the curre
structure into a two-tier model t
sustainable banking?
players like Tamim Iqbal, Shakib Al
facilitate the participation of f
Hasan, Mashrafe Mortaza are
For any business to remain relevant
students in the nation’s beloved
invariably looked upon as role
in today’s shifting landscape,
sport.
models, cricket seemed to be the
sustainability has to be at the core of
Transformer have to position themselves in a all activities. To be able to do so we right platform to engage the youth of Having discussed t
innovation and the industrial
our country.
have to approach a sustainable
manner where they directly reach
revolution, I’d like to restress
Additionally, school cricket is
ecosystem. Human beings cannot
customers and create the demand.
fact that technology is going to
definitely the foundation of
exclude themselves from the
Alongside, they need to repackage
the backbone of everything that w
tomorrow's cricket stars of the
their products and services, and
it and it is our collective duty to
morning to the moment we go to
occupy the mind space of the ecosystem, because we are a part of country. Our victory in the ICC do, starting from waking up
Under-19 Cricket World Cup is a
population. jointly work towards establishing a testament to this. Four of the first sleep. Everything will
sustainable ecosystem. As a bank,
By Marjiya Rahel Ahmed, Managing Director and CEO of The more we adapt to the use of Prime Bank is doing its due diligence eleven players in the U-19 squad had technology in some f
technology, the less likely that
Baktyer Ahmed Prime Bank, sheds light on the bank’s vision to digitization has undoubtedly been customers will be willing to to create this ecosystem – foremost previously played in Prime Bank’s From a banking perspectiv
going to get more challenging, bu
leverage the positives of the industrial the young population of the country. physically visit the banks. Also, with rule. Fintechs will not replace the by reducing our reliance on paper. school cricket tournament, including is the bankers’ respons
revolution and reaping the benef ts of the Local startups like Pathao have given the emergence of fintech, this is significance of banks and vice versa. Also, we take care to use eco-friendly Shahadat Hossain who scored a embrace the change as quic
triumphant 74 runs against South
global players like Uber a run for
demographic dividend; plus Prime Bank’s their money. These startups are slowly going out of practice. Fintech Fintechs have enabled a fruitful materials in our mementos to Africa in the Quarter Final. We possible. Banks have to be more
promote green practices. Even, in our
initiatives to facilitate f nancial inclusion of the definitely the result of our offers convenience and technological amalgamation of technology and investments, we look for options believe we are creating the stars of adaptive, leverage the st
country’s women. demographic dividend. With more advancements to customers. Our finance by developing the necessary where green banking can be tomorrow’s national cricket team. technology, and make services a
facilitation and creation of a lifestyles revolve around mostly software and hardware; banks need promoted. In all aspects of For a sustainable growth of the products more convenient.
conducive environment by the state, making payments, and customers to synergize with fintechs and reap sustainable financing mechanisms or cricket team at the national level, Convenience is going to
we will see even more digitization at nowadays seek to do that through the benefits. Through collaboration, procedures, we are very much training has to start at the root level. game-changer, and this
women have been the savers. different levels which will surely the comfort of their smartphones. the industry will be able to offer aligned with sustainable practices, This has been proven in countries technology will play a si
Women today are not only the benefit the young population. My Fintech platforms have facilitated further convenience and benefits to like India and Australia. In role. The face of the banking
homemakers, they also make take is that Bangladesh will embrace this demand, creating the ecosystem our clients. and as we move into the future, our Bangladesh this practice is yet to industry is changing, it
engagement will only increase.
significant contributions to the the demographic dividend giving it which banks need to consider flourished to its full potential. significantly changed in the l
economy. Bearing this is mind, it in the coming years, or the right direction. The one drawback themselves a part of. This will enrich Is digitalization a boon or a However, following the proud victory years, and it is going to c
With dialogue on is crucial we bring them into the does it have the about having a young population and expand the ecosystem which will problem for the banking Prime Bank has been of our under-19 team, additional much faster rate in the coming
gender equality and financial/banking net. In terms of possibility of turning (20s-30s) is that they can be restless. improve the banking industry as a industry, especially in the promoting school cricket investment in the infrastructure of We all have to brace ourselv
women empowerment financial inclusion, we cannot into a demographic The responsibility lies with the older whole. At Prime Bank in our R&D context of cybersecurity? for the last five years, apart root-level cricket can be considered. up, and be ready for the f
department, we are focused on
forge ahead by excluding the
have to be proactive rather than
taking center stage in women of the country. liability? generation to channel this creating channels and options for Digitization is definitely a beneficial from driving major CSR We have every intention to continue reactive to make the most of
this promising association with BCB.
restlessness through collaboration
policy level discussions, As of right now, we don’t I am very optimistic about the into fuel for leapfrogging, because customers which will allow us to leap into the future, but every rose initiatives through the digital phenomenon.
how important do you necessarily have a woman demographic dividend. It is the future of the nation depends on expand on this ecosystem and comes with thorns, and we need to Prime Bank Foundation. Is this open to both male
think is financial banking section at Prime Bank, definitely going to be the major it. As I said, I am highly optimistic participate in it. be prepared to tackle the challenges and female students?
but we do have a women
head on. Cyber security is a concern
inclusion of women? entrepreneur division. We have force behind the development of about it and I strongly believe that With the financial of the hour, not just for the financial Currently no. In Bangladesh we have
the demographic dividend is going to
the country. There’s no denying it.
What Prime Bank plans been operating this division If you look at all the other regions change the face of the country. industry riding high on industry, but for industries facing not yet explored the full possibilities
to do to facilitate this? humbly for some time now. where the demographic dividend the back of the ever disruption in the process of of opening school cricket to include
female students. However, the
Women empowerment is However, I am happy to share that has been the major force, you’ll What is the banking expanding fintech digitization. In the age of success of the nation’s women
extremely important because if we we plan to introduce a full-fledged see that they have all benefited industry doing to adopt digitization, a popular debate is the cricket team cannot be overlooked.
look at the demography, obviously women banking section within the from it. Perhaps the youth innovations, does Prime notion that machines will take over The inclusion of female students in
the female population constitutes next few months with the unemployment rate has prompted the 4IR? Bank consider it a human kind. I personally don’t agree,
a very large chunk of it. When we intention to bring women from critics to say that we can incur a The Fourth Industrial Revolution competition, or does it see because you need a human to
are talking about banking, saving every sphere of the society within demographic liability. However, means that technology is going to operate a machine. The machine can
is one of the major factors of the banking net. it’s the state’s responsibility to take over operations pertaining to scope of collaboration only process data faster than the
impediment. The women in the facilitate the employment our economy. As we shift towards a with fintech in the coming human brain, but it cannot decide
family, especially mothers have From the banking infrastructure. Our country has tech-based economy, we as a society years for greater growth? the course of action. I reiterate, cyber
been the prime savers for ages. industry perspective, is been evolving steadily; need to embrace it. The banking The banking industry cannot forgo security is definitely a growing
The fathers and the children are Bangladesh set to Bangladesh has been marching industry is no exception, and the the contributions of fintechs and concern and we need to safeguard
mostly spenders. From an towards a digital infrastructure sector has been undergoing its own refuse collaboration with them ourselves to the best of our abilities.
organizational point of view, men embrace the for the last 10-12 years. The evolution. Banking can now be insisting fintechs are competitors. The more science and technology are
have been the cost centers and demographic dividend beneficiary of this rapid considered an FMCG business; banks Prime Bank is no exception to this going to advance, the threat is going
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