Gap between traditional banks and digital-first fintechs is widening: Global futurist Brett King

Brett King, a top-10 globally ranked futurist, international bestselling author, and media personality, has said that the gap between traditional banks and digital-first fintechs is widening.

He made this remark at the Bankers' Meet 2025, hosted by Filps Limited, a UAE-based fintech firm, hosted the event, in Dhaka on Thursday, bringing together banking leaders and senior executives from Bangladesh's leading financial institutions for an evening of dialogue, collaboration, and future-looking insights in the digital banking domain.

King primarily writes about banking, financial technology (fintech), and the future of money. His books focus on how technology is transforming banking, payments, and financial services.

Highlighting the widening gap between traditional banks and digital-first fintechs, he said AI and other emerging technologies are transforming financial services, and Bangladesh must move past legacy systems to build the banks of the future.

He also emphasised the growing role of climate and sustainability in shaping the sector's future. 

AI and other emerging technologies are transforming financial services, and Bangladesh must move past legacy systems to build the banks of the future

Brett King, Author and Media Personality

King introduced the concept of Bank 5.0, where digital infrastructure, real-time engagement, and customer-centric innovation define competitiveness.

Brett King said, Bangladesh has an amazing opportunity right now to adopt AI in banking. Banking is not just banking today; it is now a technology-driven industry.

"The top 10 cities of Bangladesh have poor air quality. This is solvable with the technology that we have today," he said.

"Nowadays, there are two types of people. One is using AI, learning how to use AI better. The second type is waiting to be replaced by the first type," said King.

"Maybe you will see visual news created by AI in the future, and they won't be any different from the original one," he said, adding that by 2035, there will be more robots than humans.

King said China will be the No. 1 global economy; one big reason is that they are adopting AI more frequently. Currently, 80% of the china ports are automated. The country deployed 227GW of solar in 2024, which is almost equal to the 70 years of the USA's deployment. The US is already behind China in terms of automation. JP Morgan is spending $18 billion per year on technological transformation.

"World's fastest-growing banks are technology-based. Around 80% of Gen Z customers use phone payments or mobile wallets, rather than plastic cards," King said.

"Some of the bankers I have met in Bangladesh said the population loves to use cash, instead of digital transactions. Humans will not run banks in the next 30 years. Banks are going to be technology companies," he said.

The next era of banking in Bangladesh

The event, held in association with City Bank, Prime Bank and AB Bank, provided a platform to explore innovations and strategic partnerships that will define the next era of banking in Bangladesh. 

In the event, Filps showcased some of its latest technologies, including digital lending tech and digital customer onboarding solutions, demonstrating possibilities of customer-centred transformation in the industry. 

Tushar Hasan, country manager (Bangladesh) for Filps, said, "Our focus is to forge deep, enduring relationships with financial institutions, aligning our solutions with their strategic ambitions."

Filps also announced partnerships with City Bank and AB Bank during the event, paving the way for an expanded scope of digital banking collaborations with the financial institutions in Bangladesh.

For City Bank, the collaboration will power a complete revamp of its flagship City Touch digital banking platform to deliver a more seamless and intelligent customer experience. 

Meanwhile, AB Bank's partnership with Filps will focus on introducing digital nano loans.

Following the keynote, Mashrur Arefin, chairman of the Association of Bankers Bangladesh Limited (ABB), emphasised the significance of such gatherings. 

He said, "We are grateful to Filps for bringing Brett King to Bangladesh at a pivotal moment in our industry. The insights shared at Bankers' Meet 2025 reinforce the urgency for tech-driven innovation and deeper financial inclusion, ensuring that banking in Bangladesh is ready to meet the needs of the next decade."

Thanking the attendees and speakers, Biswas Dhakal, CEO of Filps, said, "Filps brings to Bangladesh a powerful combination of proven technology and deep operating expertise built over years of success in emerging markets."

"We are here for the long haul, and we are committed to partnering with banks, regulators, and industry stakeholders to accelerate digital transformation and deliver customer-first innovation at scale," he added.