JBS Vol 24. Num 2. 2022. Article 2 - Fintech as a Positive Enabler During COVID-19 in Bangladesh

The COVID-19 pandemic has disrupted every sphere of life and adversely affected low-income and marginalized communities. They suffered due to loss of income and inadequate points of contact for seeking support. This qualitative study covers 313 participants from urban, semi-urban, and rural areas of eight geographical divisions of Bangladesh. Participants from different economic backgrounds were included to better explore the role of financial technology (fintech) during the pandemic. The study shows that fintech improved people’s lives in Bangladesh by adding utility through cashless transactions, creating opportunities for innovative business solutions, and serving as a financial institution for marginalized communities. The study also shows that many participants did not have regular access to digital technology and were deprived of the opportunities fintech provides. The study demonstrates how fintech can add convenience to the continuation of life and livelihood during disruptive disasters such as the COVID-19 pandemic and concludes that community outreach is needed to link all walks of society to the internet.