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Mobile Financial Services

Mobile Financial Services XnYEN
“Banking is necessary; banks are not” said Bill gates--a founder of Microsoft Corporation-- and it seems to be coming true. Digital financial services including Mobile Financial Services (MFS), which has been flourishing the banking industry over the three decades, has achieved tremendous popularity across the world during the ongoing crisis induced by Covid-19. With myriad benefits, MFSs are growing at a fast clip in Bangladesh. A tiny number of challenges lies in MFS when it comes to pulling all sorts of citizen into formal banking sectors. Launched in 2011, MFS in Bangladesh has come a long way and extended their services to its respective users. Today, more than 10 crore people out of a population of nearly 17 crore plus use mobile banking or have an MFS account. Of them, over three crore MFS account holders are active and they collectively transact Tk 1, 786 crore daily. The ongoing crisis induced by Covid-19 has accelerated in terms of adding customers to MFS. For instance, Bkash- a leading MFS provider in Bangladesh has added one crore, taking its total clients base to 5 crore with 2. 4 lakh agent. Its daily transection has passed the 1000 crore. The fact that MFS has emerged as a one stop services from sending money and receiving money to making payments for education, transportation, utility services--electricity bill, gas bill, water bill and mobile bill –and medical has encouraged the citizen to sign up into a MFS account. Despite having numerous opportunities of MFS, a tiny number of challenges remains in this industry. The key impediments of this sector, undoubtedly, are fraudulent, exorbitant service charges, less penetration of smart phone. Although MFS operators has witnessed a surge in registering to their respective operator, Bangladesh lags far behind neighboring countries including china and India when it comes to providing loan through MFS. If the interoperability is ensured among the providers, and service charges are brought down, the industry will reach a new height. The regulatory Body must sit with expert and stake holders of MFS to address the drawbacks of this sector.
You use this word too often, consider replacing it with
“Banking
is necessary; banks are not” said
You use this word too often, consider replacing it with
Bill
gates--a founder of Microsoft Corporation-- and it seems to be coming true. Digital financial
You use this word too often, consider replacing it with
services
including Mobile Financial
You use this word too often, consider replacing it with
Services
(MFS), which has been flourishing the
You use this word too often, consider replacing it with
banking
industry over the three decades, has achieved tremendous popularity across the world during the ongoing crisis induced by Covid-19. With myriad benefits,
Possible spelling mistake found.
MFSs
are growing at a
This phrase/word is too simple and can be replaced with:
fast
clip in Bangladesh. A tiny number of challenges lies in MFS when it
This phrase/word (depending on the context) can be potentially replaced with :
comes
to pulling all sorts of citizen into formal
You use this word too often, consider replacing it with
banking
sectors.

Launched in 2011, MFS in Bangladesh has
This phrase/word (depending on the context) can be potentially replaced with :
come
a long way and extended their
You use this word too often, consider replacing it with
services
to its respective users.
This phrase/word (depending on the context) can be potentially replaced with :
Today
, more than 10 crore
This phrase/word (depending on the context) can be potentially replaced with :
people
out of a population of
nearly
17 crore plus
This phrase/word (depending on the context) can be potentially replaced with :
use
mobile
You use this word too often, consider replacing it with
banking
or have an MFS account. Of them, over three crore MFS account holders are
Use a comma before 'and' if it connects two independent clauses (unless they are closely connected and short).
active and
they
collectively
transact
Possible spelling mistake found.
Tk
1, 786
Possible agreement error. The noun 'crore' seems to be countable, so consider using: "crores".
crore
daily. The ongoing crisis induced by Covid-19 has accelerated in terms of adding customers to MFS.
For instance
,
Possible spelling mistake found.
Bkash
- a leading MFS provider in Bangladesh has
This phrase/word (depending on the context) can be potentially replaced with :
added
one crore, taking its total clients base to 5
Possible agreement error. The noun 'crore' seems to be countable, so consider using: "crores".
crore
with 2. 4 lakh
Possible agreement error. The noun 'agent' seems to be countable, so consider using: "agents".
agent
. Its daily
Possible spelling mistake found.
transection
has passed the 1000 crore.

The fact that MFS has emerged as a one
This phrase/word (depending on the context) can be potentially replaced with :
stop
You use this word too often, consider replacing it with
services
from sending money and receiving money to making payments for education, transportation, utility services--electricity
You use this word too often, consider replacing it with
bill
, gas
You use this word too often, consider replacing it with
bill
, water
You use this word too often, consider replacing it with
bill
and mobile
You use this word too often, consider replacing it with
bill
–and medical has encouraged the citizen to
This phrase/word (depending on the context) can be potentially replaced with :
sign
up into
Use "an" instead of 'a' if the following word starts with a vowel sound, e.g. 'an article', 'an hour'
a
MFS account.

Despite having numerous opportunities of MFS, a tiny number of challenges remains in this industry. The key impediments of this sector,
undoubtedly
, are fraudulent, exorbitant
You use this word too often, consider replacing it with
service
charges, less penetration of smart phone. Although MFS operators has witnessed a surge in registering to their respective operator, Bangladesh lags far behind neighboring countries including
Capitalize this word if you mean the country, not white porcelain.
china
and India when it
This phrase/word (depending on the context) can be potentially replaced with :
comes
to providing loan through MFS.

If the interoperability
is ensured
among the providers, and
You use this word too often, consider replacing it with
service
charges
are brought
down, the industry will reach a new height. The regulatory Body
This phrase/word (depending on the context) can be potentially replaced with :
must
sit with expert and stake holders of MFS to address the drawbacks of this sector.
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IELTS essay Mobile Financial Services

Essay
  American English
5 paragraphs
345 words
6.0
Overall Band Score
Coherence and Cohesion: 5.5
  • Structure your answers in logical paragraphs
  • ?
    One main idea per paragraph
  • Include an introduction and conclusion
  • Support main points with an explanation and then an example
  • Use cohesive linking words accurately and appropriately
  • Vary your linking phrases using synonyms
Lexical Resource: 5.0
  • Try to vary your vocabulary using accurate synonyms
  • Use less common question specific words that accurately convey meaning
  • Check your work for spelling and word formation mistakes
Grammatical Range: 6.5
  • Use a variety of complex and simple sentences
  • Check your writing for errors
Task Achievement: 6.0
  • Answer all parts of the question
  • ?
    Present relevant ideas
  • Fully explain these ideas
  • Support ideas with relevant, specific examples
Labels Descriptions
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    Currently is not available
  • Meet the criteria
  • Doesn't meet the criteria
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