The Role of Technology in Preventing Corruption for Strengthening Financial Governance in the context of Bangladesh

Anti Corruption, Financial Governance

The research explores the role of technology in preventing corruption and strengthening financial governance in Bangladesh, particularly focusing on the effectiveness of digital tools in curbing corruption in financial systems. The primary objectives of the study are to assess the impact of technological interventions on transparency, efficiency, and accountability within financial governance, and to understand the perspectives of various stakeholders involved in financial and regulatory sectors. The research aims to provide empirical evidence on the role of digital technologies such as blockchain, data analytics, and e-governance systems in mitigating corruption and improving governance practices. The research adopts a quantitative approach using Structural Equation Modeling (SEM) through Smart PLS 4 to analyze the collected data. A total of 100 respondents were selected, representing a broad spectrum of professionals engaged in the financial, regulatory, and technological sectors. Data were gathered through face-to-face interviews and online surveys using Google Forms. The participants were categorized into five key groups: Financial Professionals (accountants, auditors, and financial analysts), IT Specialists (software developers, system administrators, and data analysts), Policy Makers and Regulators (government officials, regulatory authority representatives, and compliance officers), Employees in Financial Institutions (bank staff, insurance company employees, and microfinance practitioners), and Academicians and Researchers (professors, scholars, and researchers in finance, technology, and governance). The responses were recorded on a 5-point Likert scale, ranging from Strongly Agree (5) to Strongly Disagree (1). The findings reveal that the majority of respondents strongly believe that the implementation of technology in financial systems has a positive effect on transparency, reducing the chances of corruption. Additionally, stakeholders indicated that blockchain and automated financial systems significantly improve accountability, while e-governance platforms offer greater citizen engagement in financial governance. However, the study also highlights some challenges, such as the digital divide, resistance from traditional sectors, and the high costs of technological implementation. Based on these findings, the study recommends that policymakers invest in comprehensive digital infrastructures to enhance transparency in the financial sector and encourage the widespread adoption of digital tools. Furthermore, training programs for financial professionals and regulators are essential to ensure effective use of these technologies. Finally, the research suggests that further studies are needed to explore the long-term effects of digital technology on corruption prevention and financial governance in Bangladesh.

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