Bangladesh severely lags behind in terms of using advanced technology to automate and digitalize financial activities as the country ranked 78th among 83 countries in the Global Fintech Index 2021.
Bangladesh fell 17 notches in the global ranking compared to the previous index and now ranks the lowest out of the 16 countries in the Asia Pacific region. The country’s capital Dhaka ranked 225th out of 264 cities globally.
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The index was published by Findexable, London-based global research, and analytics firm, in partnership with Mambu, a cloud banking, and financial services platform. And it covers the year 2020 and the first half of 2021.
Notably, the United States, United Kingdom, and Israel are the most active Fintech countries internationally, while Singapore, Australia, and China lead the Asian rankings.
According to the report, the largest improvements in the Asia Pacific were in New Zealand and Taiwan, while Vietnam, Bangladesh, and Thailand experienced a significant drop in the rankings.
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