Abstract

Economic growth and the fight against poverty are significantly aided by financial inclusion, which is individuals and enterprises’ availability and use of financial services. Due to geographical limitations and the costly expense of constructing brick-and-mortar bank branches, traditional banking services have yet to be widely available in rural Bangladesh, a primarily agricultural culture. To address this issue, mobile financial assistance, or MFS, has surfaced as a revolutionary approach that provides a practical and affordable way to do financial transactions. This thesis uses data analytics approaches to examine the various aspects of this dynamic financial ecosystem to assess how Mobile Financial Services affect financial inclusion in rural Bangladesh. In Bangladesh, the widespread use of mobile phones has created a unique chance to reach previously marginalized groups with financial services. Thanks to Mobile Financial Services, which are provided by a network of agents and suppliers, people can use their mobile phones to access various financial products, make deposits, withdrawals, transfers, bill payments, and more. Using a number of important criteria as a guide, this study uses data analytics to investigate how MFS uptake and usage have affected financial inclusion in rural areas. First, the study examines transaction data from MFS providers to evaluate the uptake and usage trends of mobile financial services in rural Bangladesh. We seek to find patterns that provide insight into the tastes and actions of rural customers by looking at the frequency and kinds of transactions. This investigation will show how far MFS has gotten acquainted with rural areas. Second, financial inclusion includes broader socioeconomic empowerment and fundamental financial services accessibility. The thesis investigates how the adoption of MFS affects people’s financial management practices and financial literacy. An extensive evaluation of the empowerment component of financial inclusion will be possible thanks to applying data analytics techniques to measure changes in financial knowledge and behaviors before and after MFS adoption. The third section of the study looks at how MFS helps rural people and businesses access credit and savings options. It examines information about savings accounts and microloans provided by MFS, assessing their use and accessibility for rural consumers. This evaluation will clarify how MFS supports the development of financial resilience in rural areas. The study also looks at the obstacles and difficulties that might prevent MFS from reaching its full potential for financial inclusion in Bangladesh’s rural areas. The study identifies essential barriers such as infrastructural constraints, regulatory difficulties, and trust issues that need to be addressed to maximize the impact of mobile financial services through surveys and interviews with rural communities and MFS providers. To sum up, this thesis assesses the complex effects of mobile financial services on financial inclusion in rural Bangladesh by employing data analytics as a potent tool. To improve financial inclusion in rural areas, financial institutions, development organizations, and governments will find this helpful research since it looks at adoption patterns, financial literacy, access to savings and loans, and obstacles. The results would further our understanding of the critical role that MFS may play in enhancing the financial security of rural communities, ultimately promoting sustainable development in Bangladesh and acting as a template for other developing nations dealing with comparable issues.