Sheikh Mohammad Maroof
Managing Director and CEO, Dhaka Bank

The Daily Star (TDS): How are you collaborating with MFS providers to integrate mobile financial services within your banking operations, and how does this enhance the delivery of your services?

Sheikh Mohammad Maroof (SMM): Our collaboration with MFS providers focuses on integrating mobile financial services into our banking ecosystem, enhancing financial inclusion and improving customer experience. We connect with platforms like bKash, Nagad, Rocket, and TAP through APIs, enabling smooth, real-time transactions between bank accounts and mobile wallets. Customers can transfer funds, make deposits, withdrawals, and bill payments directly via their mobile phones. Additionally, we offer financial products, including our digital DPS, through these MFS platforms, making services more accessible to a wider audience.

TDS: What products are you offering through MFS?

SMM: Dhaka Bank offers innovative savings products like the Dhaka Bank Nano Savings Scheme and Tayyebah Nano Savings Scheme through bKash, known as Digital DPS. Customers can manage and pay DPS instalments directly through their bKash, Nagad, or Rocket wallets without visiting branches, making saving more convenient. Funds can be transferred to savings accounts, earning interest or profit. While Dhaka Bank doesn't offer Nano loans, it enables access to "eRin," an end-to-end digital Nano loan, with repayments made via MFS wallets.

TDS: What technological innovations are shaping mobile financial services, and how is your bank incorporating these advancements?

SMM: Key advance-ments such as API integration, Artificial Intelligence (AI), Machine Learning (ML), contactless payments, digital identity verification (e-KYC), and real-time settlement systems are driving the transformation in the banking sector. Dhaka Bank has adopted several of these technologies, including mobile apps and partnerships with fintech companies.

TDS: What steps is your bank taking to safeguard customer privacy and protect sensitive information?

SMM: We employ cutting-edge cybersecurity measures to safeguard our systems, including firewalls, intrusion detection, encryption protocols, and regular security audits. Our 24/7 Network Operations Control (NOC) and Service Operations Center (SOC) ensure continuous monitoring. Data is encrypted using industry-standard algorithms, protecting it both at rest and in transit. We implement strict access controls, such as two-factor authentication and role-based access, to secure sensitive data. Regular employee training fosters a security-conscious culture, while real-time monitoring tools enable quick detection and response to incidents. We adhere to data privacy regulations and collaborate with cybersecurity experts to stay ahead of emerging threats. Dhaka Bank has achieved prestigious certifications, including ISO 27001, PCI-DSS, ISO 27032, and TIA-942, reinforcing our commitment to security.

TDS: What is your vision for the integration of MFS into traditional banking services?

SMM: The integration of MFS into traditional banking marks a transformative shift in customer engagement, making banking more digital, personalised, and interconnected. My vision is to create a seamless, customer-centric ecosystem that combines the accessibility and innovation of mobile services with the trust and security of traditional banking. This vision includes mobile-first banking, enhanced personalisation, frictionless payments, real-time financial management, stronger security, and innovation through open banking and fintech partnerships, ultimately fostering a holistic financial ecosystem for all customers.