Final answer:
bKash faced evolving challenges such as regulatory compliance, financial management, and technology scaling as it grew. To address these, the company innovated by enhancing security, expanding services, and utilizing data analytics.
Step-by-step explanation:
As bKash scaled up, the nature of its challenges evolved significantly. Initially, bKash faced hurdles related to establishing trust and a reliable infrastructure for mobile financial services. However, as the user base grew, bKash faced a new set of challenges including regulatory compliance, financial management, scaling technology, and expanding services to meet diverse customer needs. The second wave of innovations at bKash involved enhancing security features, introducing new financial products like savings and loans, improving user experience, and leveraging data analytics for personalized services. These initiatives helped bKash to meet the changing demands of its growing customer base and maintain its leadership in the mobile financial services sector.