Presentation on Mobile Financial

System(MFS)

Name: Rezaul Mustafa Niloy

ID:1731515630
ENG105, SEC: 26
Course Instructor: Fariah Hossain (
What is Mobile Financial System(MFS)?

 Mobily payment get-way.

 Allows its user to perform wide variety of financial transactions.
 Mobile phone , cellular network, NID card.
 Fast, user-friendly, effective, available 24/7
MFS service providers in Bangladesh
Research questions

 How MFS services changed day to day financial transactions?

 What are the risks of using MFS services?
 How MFS services helped during this pandemic?
 How much MFS services contributed in Bangladesh’s economy?
 How secure MFS services are?
 What are the security measures that must be taken by an MFS
service user?
Hypothesis:

Mobile Financial system is one of the most widely used services in

our country right now. Through my research I expect to find that this
service has made our lives a lot easier. Before this service was
available people had to wait for hours and even days, had to stand in
ques to complete simple financial transactions. Now, MFS services
has made these tasks simpler and also very fast. Specially during
this pandemic situation when social distancing and staying home is
the only way to keep ourselves safe MFS services helped a lot. It
helped Bangladesh’s overall economy as well.
• 17 people(85%) out of 20 use Bkash.
3 people (15%) use rocket
No users of Nagad was found in survey
• 95% For sending and receiving money.
• 85% for mobile recharge
• 50% for shopping and contactless delivery
• 35% for utility bills
• 5% for buying tickets
• 65% people rated 5 out of 5
• 15% people rated 4 out of 5
• 15% people rated 3 out of 5
• No respondents think MFS’s service was not effective or unhelpful
• 40% people got scammed and lose money
• 30% people got call from scammers but was aware
• 25% people know someone else who got scammed
• There is no one in 20 respondents who didn’t know about scamming in
MFS
• 70% people think MFS to be secure but it needs more security
measures
• 25% people think transactions are completely safe
• 75% think MFS played vital role in keeping our economy flowing
• 25% think MFS might have played a role in economy during
pandemic
Research findings

MFS has dramatically changed our way of making financial transactions in our
day to day life. It has made our day to day financial tasks a lot simpler and it can
now be completed in an instance. The services that are provided by the MFS are
greatly effective and helpful during this time of pandemic. In fact, it has become
the only safest way to perform a financial transaction without risking our lives. It
has helped our countries economy as well to thrive during this apocalyptic
situation.
MFS services are safe and secure but the security measures aren’t enough. This
is one of the most interesting and important findings in my research. The security
measures of MFS must be updated and be prepared for cyber attacks and
scammers. More awareness about scammers must be created among the users.
Conclusion

Mobile Financial System or MFS is one of the most effective and

helpful services available in Bangladesh. It has made people’s life
easier and safer during this time of pandemic. It is also playing a
vital role in keeping our economy flowing. As this service has
become popular and widespread it has become target of scammers.
More security measures and awareness is required for MFS.