This document discusses a study on measuring consumer attitudes towards the mobile financial service bKash in Bangladesh. It provides background on Bangladesh's financial sector and the regulation of mobile financial services. It notes that while only 13% of Bangladeshis have bank accounts, over 90% have mobile phones. The study aims to evaluate consumer satisfaction and dissatisfaction with bKash, the largest mobile financial service provider in Bangladesh, through surveys of 30 bKash customers. The methodology, limitations, and information sources used in the study are also outlined.
Bkash is a mobile financial service in Bangladesh that allows users to transfer money, pay bills, and make purchases using their mobile phones. Some key points:
- Bkash was launched in 2011 as a joint venture between BRAC Bank and Money in Motion to expand access to financial services in Bangladesh.
- It has over 2.2 million users and allows transactions through a simple USSD interface that works on basic phones.
- Core services include person-to-person money transfers for a low flat fee, cash deposits and withdrawals through an agent network, and bill/merchant payments.
- Bkash aims to promote financial inclusion in Bangladesh by making financial services convenient, affordable and reliable for
This document provides an overview of mobile banking. It discusses how mobile banking allows customers to access banking services anytime from anywhere using their mobile devices. It notes that mobile banking helps reach the billions of people around the world who have mobile phones, including those in remote areas or who lack access to traditional banking. The document also compares mobile banking to internet banking, noting mobile banking has lower risks of hacking and requires less technical skills for customers. It states that while mobile banking is still growing in some countries, it is already having an impact on the global economy.
This is a project on Bkash Bangladesh. It is a sister concern ob Brac Bank. The data's might not be 100% correct but the way it is written, will definitely be helpful to all.
Management Information System on bkashRageeb Hasan
This document provides an executive summary and table of contents for a report on the management information system of bKash Limited. It discusses that bKash is a mobile money system and subsidiary of BRAC Bank that aims to provide financial services to underserved populations in Bangladesh. The report contains 4 chapters, including an introduction to bKash, an overview of the company, a description of the management information system used by bKash including hardware and software, and a conclusion. It provides details on bKash services, popular software used like business management and money transaction software, and findings and recommendations.
This presentation provides an overview of market segmentation of bKash, a mobile financial service provider in Bangladesh. It begins with introducing the presenters and background on mobile banking in Bangladesh. It then discusses bKash, which started in 2010 as a joint venture between BRAC Bank and Money in Motion to provide broader financial access. The presentation focuses on how bKash segments the market including by demographics like rural populations, psychographics like user status, behaviors like usage rates, and benefits. It aims to break down the large customer pool into specific groups for bKash's services.
Premier University
B.B.A
Assignment on: Mobile banking of bkash in Bangladesh
Submitted to
Prepared By
Md.Ariful Islam Saimon Chy
ID:1022114412 Phone :01673765551
E-mail : saimonchy28@yahoo.com
This document provides an overview of mobile banking. It discusses how mobile banking allows customers to access banking services anytime from anywhere using their mobile devices. It notes that mobile banking helps reach the billions of people around the world who have mobile phones, including those in remote areas or who lack access to traditional banking. The document also compares mobile banking to internet banking, noting mobile banking has less security risks and does not require computer skills. It states that while mobile banking is still growing in some countries, it is already having an impact on the global economy.
This document provides an overview of mobile banking. It discusses that mobile banking allows customers to access banking services from anywhere through their mobile devices. It provides banking access to remote populations. Mobile banking is growing globally with over 4 billion mobile subscribers. It has lower costs than traditional banking and less security risks than internet banking. While adoption varies between countries, mobile banking is still emerging but creating economic impact. The document also discusses bKash's mobile banking services in Bangladesh, including cash deposits, withdrawals, money transfers, and bill payments available through agents or ATMs.
Bkash is a mobile financial service in Bangladesh that allows users to transfer money, pay bills, and make purchases using their mobile phones. Some key points:
- Bkash was launched in 2011 as a joint venture between BRAC Bank and Money in Motion to expand access to financial services in Bangladesh.
- It has over 2.2 million users and allows transactions through a simple USSD interface that works on basic phones.
- Core services include person-to-person money transfers for a low flat fee, cash deposits and withdrawals through an agent network, and bill/merchant payments.
- Bkash aims to promote financial inclusion in Bangladesh by making financial services convenient, affordable and reliable for
This document provides an overview of mobile banking. It discusses how mobile banking allows customers to access banking services anytime from anywhere using their mobile devices. It notes that mobile banking helps reach the billions of people around the world who have mobile phones, including those in remote areas or who lack access to traditional banking. The document also compares mobile banking to internet banking, noting mobile banking has lower risks of hacking and requires less technical skills for customers. It states that while mobile banking is still growing in some countries, it is already having an impact on the global economy.
This is a project on Bkash Bangladesh. It is a sister concern ob Brac Bank. The data's might not be 100% correct but the way it is written, will definitely be helpful to all.
Management Information System on bkashRageeb Hasan
This document provides an executive summary and table of contents for a report on the management information system of bKash Limited. It discusses that bKash is a mobile money system and subsidiary of BRAC Bank that aims to provide financial services to underserved populations in Bangladesh. The report contains 4 chapters, including an introduction to bKash, an overview of the company, a description of the management information system used by bKash including hardware and software, and a conclusion. It provides details on bKash services, popular software used like business management and money transaction software, and findings and recommendations.
This presentation provides an overview of market segmentation of bKash, a mobile financial service provider in Bangladesh. It begins with introducing the presenters and background on mobile banking in Bangladesh. It then discusses bKash, which started in 2010 as a joint venture between BRAC Bank and Money in Motion to provide broader financial access. The presentation focuses on how bKash segments the market including by demographics like rural populations, psychographics like user status, behaviors like usage rates, and benefits. It aims to break down the large customer pool into specific groups for bKash's services.
Premier University
B.B.A
Assignment on: Mobile banking of bkash in Bangladesh
Submitted to
Prepared By
Md.Ariful Islam Saimon Chy
ID:1022114412 Phone :01673765551
E-mail : saimonchy28@yahoo.com
This document provides an overview of mobile banking. It discusses how mobile banking allows customers to access banking services anytime from anywhere using their mobile devices. It notes that mobile banking helps reach the billions of people around the world who have mobile phones, including those in remote areas or who lack access to traditional banking. The document also compares mobile banking to internet banking, noting mobile banking has less security risks and does not require computer skills. It states that while mobile banking is still growing in some countries, it is already having an impact on the global economy.
This document provides an overview of mobile banking. It discusses that mobile banking allows customers to access banking services from anywhere through their mobile devices. It provides banking access to remote populations. Mobile banking is growing globally with over 4 billion mobile subscribers. It has lower costs than traditional banking and less security risks than internet banking. While adoption varies between countries, mobile banking is still emerging but creating economic impact. The document also discusses bKash's mobile banking services in Bangladesh, including cash deposits, withdrawals, money transfers, and bill payments available through agents or ATMs.
This document describes a study that aimed to understand consumers' attitudes towards the mobile financial service bKash in Bangladesh. It conducted surveys of 40 bKash users in Motijheel, collecting data on demographics, usage behaviors, and perceptions. The results found that most users were male students who use bKash multiple times a week primarily to withdraw cash and perceive it as more convenient than traditional banking. Overall user satisfaction with bKash was high.
Overview of mobile banking industry in Bangladesh. Competitive analysis by Porter's Five forces model. Swot analysis of Bkash of Brac bank, Rocket of DBBL and Islami bank's Mcash.
The document provides an overview of mobile financial services (MFS) activity in Bangladesh. Some key details include:
- MFS transactions totaled over 3.2 trillion BDT in the first half of 2018, with the majority (3.1 trillion BDT) coming from MFS providers.
- The top MFS providers are bKash, Rocket, and SureCash, accounting for over 80% of agents. bKash has the largest market share at 58%.
- Transaction limits, fees and commissions vary between providers but cash in/out fees typically range from 1.5-2% and agent commissions are around 4%. Some providers offer interest on savings balances.
- Additional
BKash Limited is a leading mobile financial services provider in Bangladesh that was founded as a joint venture between BRAC Bank and Money in Motion in 2010. It has since expanded with investments from IFC, the Gates Foundation, and Ant Financial. BKash aims to increase financial inclusion in Bangladesh by providing convenient, affordable and reliable financial services via mobile phones. It utilizes Bangladesh's large mobile phone penetration rate to reach rural populations that lack access to formal banking. BKash has over 30 million users and a network of over 180,000 agents across Bangladesh.
Bkash is a mobile financial service in Bangladesh that allows users to send and receive money via mobile devices. It was started as a joint venture between BRAC Bank and Money in Motion to make financial services more convenient, affordable, and reliable. Bkash has grown tremendously, with transactions increasing from $1.7 million per month in 2013 to $7.5 million per month in 2016. It offers fast, affordable, convenient, and nationwide services while keeping transactions secure under regulation. While bkash has brought great change by reducing the need to carry cash, it still faces some issues like server downtime, service charges, recovery challenges, running out of money, and security vulnerabilities.
The document is a report on the financial performance and analysis of BRAC Bank submitted by a group of students. It includes an executive summary, introduction, background, objectives, methodology and limitations of the report. It provides an overview of BRAC Bank including its vision, mission and organizational structure. It discusses theoretical aspects like trend analysis of deposits, loans and advances, and investments. It analyzes the bank's loan classification status and different financial ratios like current ratio, debt ratio, credit to deposit ratio and cost income ratio. The document conducts analysis of BRAC Bank's financial performance over several years.
Internship report on electronic banking activities of Rupali Bank Ltd._2018_I...ImranSheikh72
This document is BorhanUddinChowdhury's internship report submitted to the Department of Accounting and Information Systems at the University of Rajshahi. It assesses the electronic banking activities of Rupali Bank Limited's RUET branch in Rajshahi. The report contains 7 chapters, including an introduction describing the objectives and methodology of the study, an overview of Rupali Bank and the RUET branch, an analysis of electronic banking services offered, outcomes of the internship program, and conclusions with recommendations. The primary objective is to observe and assess the overall e-banking activities at the RUET branch to evaluate implementation and customer satisfaction of services.
Use of technologies in the banking sector of BangladeshMasum Hussain
Among the financial service industry, the banking sector was one of the first to embrace rapid globalization and benefits significantly from technology development. The technological revolution in banking started in the 1950s, with the installation of the first automated bookkeeping machines at banks. This was well before the other industries became tech savvy. The first Automated Teller Machine (ATM) is reported to have been introduced in the USA in 1968 with only a cash dispenser. Automation in banking have become widespread over the past few decades as banks quickly realized that much of their labor intensive information-handling processes could be automated the use of computers. Against this background the paper examines the Technology driven banking services reference to the present and future of Technology driven banking in Bangladesh.
Mobile financial services and agent banking in BangladeshSM Nuruzzaman Razu
This presentation introduces mobile financial services and agent banking in Bangladesh. It provides an overview of mobile financial services, including common transactions like money transfers, bill payments, and savings accounts. The presentation notes that mobile financial services are still developing in Bangladesh but growing rapidly, with over 800,000 agents and hundreds of millions of transactions annually. It also outlines opportunities for innovation and challenges around fraud and security issues. Finally, the presentation defines agent banking, where local shop owners conduct banking transactions on behalf of banks, and discusses both the opportunities and challenges of agent banking in Bangladesh.
Banglalink is one of the leading cellular companies in Bangladesh that was previously known as Shebaworld. The document outlines Banglalink's mission to deliver innovative, customer-focused products and be a benchmark for excellent customer service. It discusses Banglalink's objectives to be the number one telecom company through having the largest coverage and greatest number of customers. The marketing plan also analyzes Banglalink's target markets, segmentation strategy, marketing mix including product packages and pricing, as well as promotional activities and SWOT analysis.
This document summarizes a study comparing mobile banking in parts of Bangladesh. It collected information from mobile banking users, agents, and bank managers in Pabna and Chuadanga to analyze issues in the field. Most students and young professionals used services like bKash and Rocket, while lower-income groups used options like Sure Cash and M Cash. Agents facilitated significant daily transactions, though faced fraud risks. While bank managers were less informative, Rocket was seen as providing better security and services than alternatives like bKash, which sometimes had technical or fraudulent transaction problems. The study used questionnaires, data analysis in Weka, and identified trends in transaction volumes and preferences for more secure options like Rocket among users.
Banglalink as a novice cellular company has improved its condition within a very short time. The marketing plan of the company has proven right for the organization because it’s spreading its business gradually. But still it’s not the biggest cellular company in the country. GP is the leader in the market and Banglalink has got lot of aspect to improve the situation. So to be the market leader Banglalink must be very careful in the field of marketing plan and the success of the company is a matter of subject that how they are implementing the plan. As a result the Business Development and Customer Retention Policies implementation consumers’ behavior towards Banglalink is very positive and their satisfaction level is very high. The consumers of sim connection are preferred The Banglalink most. The consumers believe that Banglalink provides high quality product, but the call rate, connection rate are not so high. Consumers are mainly got information from television ads. So, at the end we can conclude that Banglalink is one of the finest companies in Bangladesh. They provide high quality of product and consumers are satisfied with Banglalink’s products they bought, especially postpaid sim connection. Consumers are satisfied by Banglalink sim category.
Internship report on promotional activities of banglalink 26 jun-19Mausumi Tania
To evaluation the promotional activities of Banglalink Digital Communication Limited from the reflection light of customers’ perceptions -by Mostofa Tariqul Anam
This report is about the Blue Ocean Strategy and its business application in bkash. As a developing country, Bangladesh should concentrate in Blue Ocean strategy.Blue Ocean Strategy seeks to make the creation and capturing oceans as systematic and actionable as competing in the red waters of known market space. For although blue ocean strategists have always existed, for the most part their strategies have been largely unconscious. Blue ocean strategy seeks to remedy this by not only decoding the pattern and principles behind the successful creation of blue oceans, but also providing the analytical frameworks and tools to act on this insight. A blue ocean is created in the region where bkash’s actions favorably affect both its cost structure and it value proposition to buyers.
Mobile financial services allow users in Bangladesh to perform banking transactions like deposits, withdrawals, money transfers, bill payments, and international remittances using their mobile phones. Mobile banking has grown popular due to its convenience, affordability, security, and nationwide availability 24/7. While traditional banks have over 6035 ATMs and 9051 branches, mobile financial service providers have expanded access through 3905 ATMs, 543420 agents, and merchant points across the country. The two largest mobile money providers are bKash and Rocket, which together accounted for over 90% of the USD $2 billion in mobile banking transactions in February 2015.
Internship report on agent banking and its prospects in bangladesh a study on...Comilla University
Internship report on agent banking and its prospects in Bangladesh a study on Bank Asia Ltd. Prepared By Md. Riad Shahriar Riaz_Dept. Of Marketing_Comilla University.
This document is a term paper submitted by Md. Asabuddin to their lecturer Nayan Chandra Das on Dutch Bangla Bank Limited in Bangladesh. It includes various sections such as an introduction, literature review, methodology, findings and conclusion. The paper examines Dutch Bangla Bank's corporate social responsibilities activities like donations to education, health and disaster relief. It also reviews the bank's mobile banking services and risk management framework. The term paper was completed as part of Md. Asabuddin's BBA program requirements.
Human Resource Management planning including succession planning of Grameenphone. Succession plan for top level management. HR plan is given as a whole.
Measuring Consumers’ Attitudes towards Mobile Financial Service: A Study on b...hamonalam
This document discusses a study on measuring consumer attitudes towards the mobile financial service bKash in Bangladesh. It provides background on the Bangladeshi financial sector and the regulation of mobile financial services in the country. Only 13% of Bangladeshis have bank accounts while over 90% have mobile phones, presenting an opportunity for mobile financial services. The study aims to evaluate consumer satisfaction and dissatisfaction with bKash, the largest mobile financial service provider in Bangladesh. It describes the methodology used, including conducting surveys of 40 bKash customers in Dhaka.
Mobile banking of bkash in Bangladesh.docAriful Saimon
B.B.A
Banking & Insurance
Assignment on: Mobile banking of bkash in Bangladesh
Submitted to
Lecture: Ms.Tasmia Tahlil
Department of Finance
Faculty of Business Administration
Premier University, Chittagong.
Group: B
Prepared By:
.
Md. Ariful Islam Saimon Chy
1022114412
This document describes a study that aimed to understand consumers' attitudes towards the mobile financial service bKash in Bangladesh. It conducted surveys of 40 bKash users in Motijheel, collecting data on demographics, usage behaviors, and perceptions. The results found that most users were male students who use bKash multiple times a week primarily to withdraw cash and perceive it as more convenient than traditional banking. Overall user satisfaction with bKash was high.
Overview of mobile banking industry in Bangladesh. Competitive analysis by Porter's Five forces model. Swot analysis of Bkash of Brac bank, Rocket of DBBL and Islami bank's Mcash.
The document provides an overview of mobile financial services (MFS) activity in Bangladesh. Some key details include:
- MFS transactions totaled over 3.2 trillion BDT in the first half of 2018, with the majority (3.1 trillion BDT) coming from MFS providers.
- The top MFS providers are bKash, Rocket, and SureCash, accounting for over 80% of agents. bKash has the largest market share at 58%.
- Transaction limits, fees and commissions vary between providers but cash in/out fees typically range from 1.5-2% and agent commissions are around 4%. Some providers offer interest on savings balances.
- Additional
BKash Limited is a leading mobile financial services provider in Bangladesh that was founded as a joint venture between BRAC Bank and Money in Motion in 2010. It has since expanded with investments from IFC, the Gates Foundation, and Ant Financial. BKash aims to increase financial inclusion in Bangladesh by providing convenient, affordable and reliable financial services via mobile phones. It utilizes Bangladesh's large mobile phone penetration rate to reach rural populations that lack access to formal banking. BKash has over 30 million users and a network of over 180,000 agents across Bangladesh.
Bkash is a mobile financial service in Bangladesh that allows users to send and receive money via mobile devices. It was started as a joint venture between BRAC Bank and Money in Motion to make financial services more convenient, affordable, and reliable. Bkash has grown tremendously, with transactions increasing from $1.7 million per month in 2013 to $7.5 million per month in 2016. It offers fast, affordable, convenient, and nationwide services while keeping transactions secure under regulation. While bkash has brought great change by reducing the need to carry cash, it still faces some issues like server downtime, service charges, recovery challenges, running out of money, and security vulnerabilities.
The document is a report on the financial performance and analysis of BRAC Bank submitted by a group of students. It includes an executive summary, introduction, background, objectives, methodology and limitations of the report. It provides an overview of BRAC Bank including its vision, mission and organizational structure. It discusses theoretical aspects like trend analysis of deposits, loans and advances, and investments. It analyzes the bank's loan classification status and different financial ratios like current ratio, debt ratio, credit to deposit ratio and cost income ratio. The document conducts analysis of BRAC Bank's financial performance over several years.
Internship report on electronic banking activities of Rupali Bank Ltd._2018_I...ImranSheikh72
This document is BorhanUddinChowdhury's internship report submitted to the Department of Accounting and Information Systems at the University of Rajshahi. It assesses the electronic banking activities of Rupali Bank Limited's RUET branch in Rajshahi. The report contains 7 chapters, including an introduction describing the objectives and methodology of the study, an overview of Rupali Bank and the RUET branch, an analysis of electronic banking services offered, outcomes of the internship program, and conclusions with recommendations. The primary objective is to observe and assess the overall e-banking activities at the RUET branch to evaluate implementation and customer satisfaction of services.
Use of technologies in the banking sector of BangladeshMasum Hussain
Among the financial service industry, the banking sector was one of the first to embrace rapid globalization and benefits significantly from technology development. The technological revolution in banking started in the 1950s, with the installation of the first automated bookkeeping machines at banks. This was well before the other industries became tech savvy. The first Automated Teller Machine (ATM) is reported to have been introduced in the USA in 1968 with only a cash dispenser. Automation in banking have become widespread over the past few decades as banks quickly realized that much of their labor intensive information-handling processes could be automated the use of computers. Against this background the paper examines the Technology driven banking services reference to the present and future of Technology driven banking in Bangladesh.
Mobile financial services and agent banking in BangladeshSM Nuruzzaman Razu
This presentation introduces mobile financial services and agent banking in Bangladesh. It provides an overview of mobile financial services, including common transactions like money transfers, bill payments, and savings accounts. The presentation notes that mobile financial services are still developing in Bangladesh but growing rapidly, with over 800,000 agents and hundreds of millions of transactions annually. It also outlines opportunities for innovation and challenges around fraud and security issues. Finally, the presentation defines agent banking, where local shop owners conduct banking transactions on behalf of banks, and discusses both the opportunities and challenges of agent banking in Bangladesh.
Banglalink is one of the leading cellular companies in Bangladesh that was previously known as Shebaworld. The document outlines Banglalink's mission to deliver innovative, customer-focused products and be a benchmark for excellent customer service. It discusses Banglalink's objectives to be the number one telecom company through having the largest coverage and greatest number of customers. The marketing plan also analyzes Banglalink's target markets, segmentation strategy, marketing mix including product packages and pricing, as well as promotional activities and SWOT analysis.
This document summarizes a study comparing mobile banking in parts of Bangladesh. It collected information from mobile banking users, agents, and bank managers in Pabna and Chuadanga to analyze issues in the field. Most students and young professionals used services like bKash and Rocket, while lower-income groups used options like Sure Cash and M Cash. Agents facilitated significant daily transactions, though faced fraud risks. While bank managers were less informative, Rocket was seen as providing better security and services than alternatives like bKash, which sometimes had technical or fraudulent transaction problems. The study used questionnaires, data analysis in Weka, and identified trends in transaction volumes and preferences for more secure options like Rocket among users.
Banglalink as a novice cellular company has improved its condition within a very short time. The marketing plan of the company has proven right for the organization because it’s spreading its business gradually. But still it’s not the biggest cellular company in the country. GP is the leader in the market and Banglalink has got lot of aspect to improve the situation. So to be the market leader Banglalink must be very careful in the field of marketing plan and the success of the company is a matter of subject that how they are implementing the plan. As a result the Business Development and Customer Retention Policies implementation consumers’ behavior towards Banglalink is very positive and their satisfaction level is very high. The consumers of sim connection are preferred The Banglalink most. The consumers believe that Banglalink provides high quality product, but the call rate, connection rate are not so high. Consumers are mainly got information from television ads. So, at the end we can conclude that Banglalink is one of the finest companies in Bangladesh. They provide high quality of product and consumers are satisfied with Banglalink’s products they bought, especially postpaid sim connection. Consumers are satisfied by Banglalink sim category.
Internship report on promotional activities of banglalink 26 jun-19Mausumi Tania
To evaluation the promotional activities of Banglalink Digital Communication Limited from the reflection light of customers’ perceptions -by Mostofa Tariqul Anam
This report is about the Blue Ocean Strategy and its business application in bkash. As a developing country, Bangladesh should concentrate in Blue Ocean strategy.Blue Ocean Strategy seeks to make the creation and capturing oceans as systematic and actionable as competing in the red waters of known market space. For although blue ocean strategists have always existed, for the most part their strategies have been largely unconscious. Blue ocean strategy seeks to remedy this by not only decoding the pattern and principles behind the successful creation of blue oceans, but also providing the analytical frameworks and tools to act on this insight. A blue ocean is created in the region where bkash’s actions favorably affect both its cost structure and it value proposition to buyers.
Mobile financial services allow users in Bangladesh to perform banking transactions like deposits, withdrawals, money transfers, bill payments, and international remittances using their mobile phones. Mobile banking has grown popular due to its convenience, affordability, security, and nationwide availability 24/7. While traditional banks have over 6035 ATMs and 9051 branches, mobile financial service providers have expanded access through 3905 ATMs, 543420 agents, and merchant points across the country. The two largest mobile money providers are bKash and Rocket, which together accounted for over 90% of the USD $2 billion in mobile banking transactions in February 2015.
Internship report on agent banking and its prospects in bangladesh a study on...Comilla University
Internship report on agent banking and its prospects in Bangladesh a study on Bank Asia Ltd. Prepared By Md. Riad Shahriar Riaz_Dept. Of Marketing_Comilla University.
This document is a term paper submitted by Md. Asabuddin to their lecturer Nayan Chandra Das on Dutch Bangla Bank Limited in Bangladesh. It includes various sections such as an introduction, literature review, methodology, findings and conclusion. The paper examines Dutch Bangla Bank's corporate social responsibilities activities like donations to education, health and disaster relief. It also reviews the bank's mobile banking services and risk management framework. The term paper was completed as part of Md. Asabuddin's BBA program requirements.
Human Resource Management planning including succession planning of Grameenphone. Succession plan for top level management. HR plan is given as a whole.
Measuring Consumers’ Attitudes towards Mobile Financial Service: A Study on b...hamonalam
This document discusses a study on measuring consumer attitudes towards the mobile financial service bKash in Bangladesh. It provides background on the Bangladeshi financial sector and the regulation of mobile financial services in the country. Only 13% of Bangladeshis have bank accounts while over 90% have mobile phones, presenting an opportunity for mobile financial services. The study aims to evaluate consumer satisfaction and dissatisfaction with bKash, the largest mobile financial service provider in Bangladesh. It describes the methodology used, including conducting surveys of 40 bKash customers in Dhaka.
Mobile banking of bkash in Bangladesh.docAriful Saimon
B.B.A
Banking & Insurance
Assignment on: Mobile banking of bkash in Bangladesh
Submitted to
Lecture: Ms.Tasmia Tahlil
Department of Finance
Faculty of Business Administration
Premier University, Chittagong.
Group: B
Prepared By:
.
Md. Ariful Islam Saimon Chy
1022114412
Implementation of Mobile Banking in Bangladesh: Opportunities and ChallengesIOSR Journals
ABSTRACT:Mobile banking is a newly added service in the banking sector that facilitates banking via mobile devices. With the tremendous growth in mobile phone usage, banks in the developed world have moved to utilize mobile banking, which makes banking easier, faster, and very cost-effective. Mobile phones have quickly emerged as a successful and popular means of communication in recent years and the researchers believe that growth of mobile banking in Bangladesh is inevitable, especially when banks do not have sufficient number of branches in the rural areas of Bangladesh. The purpose of this research is to assess the Opportunities and Challenges of mobile banking in this country. To accomplish this empirical study, multiple banks have been surveyed which either currently have an operational mobile banking in place or planning to introduce one in the near future. The research shows tremendous potential for mobile banking in Bangladesh and reveals some of the key barriers of progress as well. KEYWORDS:Banking Sector, Mobile banking, Mobile Phone, Rural Areas, Telecommunication.
Outreach and efficiency of inclusive banking throughRAVICHANDIRANG
Financial inclusion is one of the means for overall economic development of a country.The
growth of the retail banking industry fosters financial inclusion by providing financial products and
services to people in the rural areas of the country. The nationalization of prominent commercial banks has improved
the banker customer relationship.The measures taken by the Reserve Bank of India and other regulatory bodies
have strengthened the banking industry and have raised the level of confidence in the minds of the public about the
banking sector.The banking history has undergone tremendous changes in the last few decades
1) The document discusses inclusive banking and financial inclusion in Tamil Nadu through the use of technology. It outlines initiatives taken by the Reserve Bank of India and government to promote financial inclusion, including the Pradhan Mantri Jan Dhan Yojana.
2) It identifies some challenges to financial inclusion like lack of awareness, geographic spread, and lack of last mile connectivity. The use of technology like mobile banking, ATMs and business correspondents is seen as a way to overcome these challenges and promote inclusive banking.
3) The study aims to measure the outreach and efficiency of inclusive banking through technology in unreached rural areas of Tamil Nadu to further the goal of financial inclusion.
1) The document discusses inclusive banking and financial inclusion in Tamil Nadu through the use of technology. It outlines initiatives taken by the Reserve Bank of India and government to promote financial inclusion.
2) It reviews literature on challenges and issues with financial inclusion in India. Problems identified include lack of infrastructure in rural areas and lack of awareness among customers.
3) The document argues that technology is key to reaching unbanked populations and promoting efficient banking transactions. It analyzes government schemes in India like Pradhan Mantri Jan Dhan Yojana aimed at financial inclusion.
THE INFLUENCE OF MOBILE BANKING SERVICES ON CUSTOMER SATISFACTIONNzabirinda Etienne
This document discusses a study on the influence of mobile banking services on customer satisfaction. It provides background on the shift from traditional to digital banking and the growth of mobile banking. The study aims to analyze customer perceptions of mobile banking services and satisfaction at a bank in Rwanda. A literature review covers concepts of mobile banking services and customer satisfaction. The methodology included a survey of 61 bank customers to assess flexibility, credibility, accessibility, privacy and customer loyalty, commitment, trust and retention. The results showed positive customer perceptions of mobile banking services and satisfaction. A relationship was found between mobile banking services and customer satisfaction.
This presentation provides an overview of mobile banking in Bangladesh. It discusses the SWOT analysis of mobile banking, describing strengths like convenience and opportunities like a large mobile user base, as well as weaknesses like lack of awareness and threats like regulatory restrictions. It then outlines the current state of mobile banking in Bangladesh, with several banks having launched services. Upcoming developments are noted, along with the methodology, findings, recommendations and conclusion of the study. The recommendations include improving education and services to increase adoption of mobile banking.
This document summarizes research on the use of mobile money in Bangladesh. A survey was conducted in a non-urban area of Bangladesh to understand how residents use mobile money for personal and professional transactions. The survey found that mobile money is used for a variety of monetary transactions. However, the results cannot be generalized to all of Bangladesh as the survey was limited to one area. There is an opportunity to replicate the survey in other parts of the country to gain a more complete picture of mobile money usage. Major mobile network operators in Bangladesh have partnered with banks to offer mobile banking services to more of the population.
The study examined the determinant of mobile banking adoption among bank customers in Ghana,
with specific emphasis on Access Bank. In line with literature, the study applies theoretical frameworks
which have been developed from existing literatures on innovation and adoption to collect
responses from one hundred and fifty (150) sampled customers of Access Bank in order to investigate
the determinants of mobile banking adoption in the Ghanaian banking industry. The results
from the study revealed that, each factor measured had some level of significant effect on consumer
intention to adopt and use mobile banking services provided by Access Bank. Additionally,
the study unveiled that, perceived credibility and perceived financial cost were the major setback
with regards to customers adoption of mobile banking services provided by Access Bank, and as a
result of this, Ghanaians have formed a negative behavioural pattern towards mobile banking. In
addition, the findings showed that, perceived credibility and perceived financial cost have a
stronger effect on consumer intention to adopt and use mobile banking service than perceived usefulness
and perceived ease of use. It was, therefore, recommended that banks in Ghana should
create more awareness through personal interaction with customers, develop quality initiatives in
order to build customer’s confidence. Equally, banks should also review the cost of their mobile
banking service.
This presentation discusses mobile banking in Bangladesh. It begins with defining mobile banking and providing a brief history of its development. It then outlines the conceptual model of mobile banking and details the history of its emergence in Bangladesh. Key points covered include the current state of mobile banking in Bangladesh, the services it offers, how it works, its advantages and disadvantages, its role in economic development, and comparisons with neighboring countries. Recommendations are provided to expand adoption of mobile banking.
Mobile banking allows users to conduct banking transactions through their mobile phones. It first began in the late 1960s and has since expanded, with the first mobile banking services in Bangladesh launched in the 2000s by Dutch-Bangla Bank and BRAC Bank. Currently around 15 banks in Bangladesh offer mobile banking services through partnerships with major mobile network operators. While mobile banking provides increased access and convenience, challenges remain in expanding awareness and ensuring security of mobile financial transactions.
The document discusses a study on mobile banking in Bantwal Taluk, India. It found that mobile banking has become essential due to demonetization, as it provides easy access to banking services for rural customers now that mobile devices are widely used. The study aimed to investigate mobile banking usage and identify services used, growth potential, usefulness, and problems. It found that most users appreciate the convenience and control afforded by mobile banking, though some privacy and security issues exist. The researchers suggest educating rural communities and improving technology and infrastructure to increase adoption of this important service.
This document describes research conducted on customer satisfaction with Bkash mobile banking services in Bangladesh. It provides background on Bkash and the objectives and scope of the research. The research methodology involved an online survey of 60 Bkash customers. Descriptive statistics are presented on the demographic characteristics of respondents and their responses to survey questions regarding various aspects of Bkash services like security, transaction speed, customer support, and overall satisfaction. Pie charts and frequency tables are used to summarize the demographic and survey response data.
This document discusses the trend and challenges of mobile banking in India. It provides an overview of how mobile banking uses mobile phones to provide banking services and its benefits in terms of convenience and accessibility. The document then reviews related literature on mobile banking that examines security issues, adoption trends in India, and customers' perceptions. It outlines the objectives and nature of the current study, which is to analyze mobile banking trends in India, understand its challenges, and provide suggestions. Secondary data on monthly mobile banking transaction values from February 2022 to January 2023 is presented in a table to analyze growth trends.
This is an assignment on the topics named Mobile Banking. This assignment contain's the valuable description based on the mobile banking sector of Bangladesh.
This document summarizes a study on the role of mobile banking in economic growth in India. It discusses how mobile banking services have grown rapidly in India, with the number of registered customers increasing from 163 million in 2017 to 251 million in 2018. The study aims to understand individuals' preferences toward mobile banking and how it can help various groups like banks, telecom providers, and the government. It finds that advancements in technology and digital initiatives by the Indian government have promoted financial inclusion and driven economic growth through expanded access to mobile banking services.
Effect of Mobile Banking on Customer Satisfaction in Selected Banks in Trans-...paperpublications3
Abstract: The purpose of the study was to investigate the effect of mobile banking on customer satisfaction in selected banks in Trans-Nzoia County. The study was guided by the following objectives: -to establish the effect of reliability of mobile banking on customer satisfaction, to determine the effect of responsiveness of mobile banking on customer satisfaction , and to evaluate the effect of accessibility of mobile banking services on customer satisfaction in Trans-Nzoia County. A descriptive survey research design was adopted. The target population was ten selected banks in Trans-Nzoia County. The study was guided by the; innovation diffusion theory, technology acceptance model (TAM), and theory of reasoned action (TRA). The study adopted the descriptive survey research design with the target population being the selected commercial banks personnel in Trans Nzoia County, totaling to 41 respondents. Census method was adopted since the target population was less than the minimum a hundred for sampling to be used for research. A structured questionnaire was used as a data collection instrument that was designed in a Likert scale format. Data analysis was carried out by use of regression and ANOVA using the Statistical Package for Social Sciences (SPSS) version 23 in order to statistically produce the relationship between the independent variables and dependent variable. From the findings, the researcher concluded that the regression effect was statistically significant indicating a reliable prediction of the dependent variable. The F calculated (F =39.96) greater than 5% level of significance thereby showing that the model was significant where the independent variables explained 85% of the mobile banking customer satisfaction. The study was significant to the banking sector since mobile banking is a phenomenon that has taken off and can’t be washed away.
This chapter provides a literature review on mobile banking. It begins with an introduction to electronic banking and discusses different modes of electronic banking like internet banking and mobile banking. It then examines the adoption of mobile banking and discusses relevant theoretical frameworks like the Theory of Reasoned Action and Theory of Planned Behavior that have been used to study factors influencing the adoption of new technologies. The chapter serves to provide context and background for the thesis by reviewing past work on mobile banking adoption.
This document discusses a student's project on mobile banking. It begins by thanking various organizations and individuals who supported the project, including the University of Mumbai, the project guide Prof. Vinita Pimpale, the principal and B.B.I coordinator who allowed the project. It then includes a declaration by the student that the project information is true and original, and a certificate signed by the project guide confirming the same.
Consumer rights in Bangladesh are outlined in the Consumer Rights Protection Act of 2009. The act established a National Consumer Rights Protection Council to oversee consumer rights practices in the country. It also gives consumers the right to safe, high quality goods and services at fair prices, as well as the right to information regarding products. There are eight basic rights of consumers including the right to safety, choice, and redress. While laws aim to protect consumers, issues still exist such as lack of awareness, illiteracy, and compromising attitudes. Strengthening consumer courts and advocacy groups can help further establish consumer rights in Bangladesh.
This presentation discusses employee engagement. It defines engagement as the emotional commitment employees feel toward their organization and its goals. The presentation outlines key drivers of engagement, such as getting to know employees, training, recognition, and feedback. Highly engaged companies and workgroups are shown to outperform peers in metrics like revenue, profits, customer loyalty, and retention. Measuring engagement through surveys can help identify engagement strengths and weaknesses in an organization. The conclusion emphasizes that engaged workforces are important for achieving business success.
Renata Ltd is one of the top pharmaceutical companies in Bangladesh. To evaluate Renata's financial performance and condition from 2010-2014, various liquidity ratios were analyzed. The current ratio fluctuated over the years, decreasing in 2011 and 2013 but increasing in 2012 and 2014. The quick ratio followed a similar trend. The average collection period and days inventory outstanding generally increased over the years, indicating slower collection of receivables and higher inventory levels being held. The accounts receivable and inventory turnover ratios decreased in most years, suggesting slower turnover of these current assets.
This document provides an overview of 5 commercial banks in Bangladesh - Eastern Bank, Dutch-Bangla Bank, Dhaka Bank, Mercantile Bank, and Jamuna Bank. It discusses the vision, mission, and values of Eastern Bank. It also provides brief descriptions of the missions and visions of Dutch-Bangla Bank, which was the first fully automated bank in Bangladesh, Dhaka Bank, Mercantile Bank, and Jamuna Bank. The document appears to be conducting research and analysis on the deposit rates and interest rates of these 5 commercial banks.
Banking system of ncc bank ltd an analysis of its investment portfolioRabiul Alam Hamon
This document is an internship report submitted by Rabiul Alam Hamon analyzing the investment portfolio of NCC Bank Ltd. It includes an authorization letter, declaration, acknowledgements, letter of transmittal, and executive summary. The report provides an overview of NCC Bank, discussing its mission, vision, services, corporate values, board of directors, and organizational hierarchy. It outlines the objectives, rationale, and limitations of the study. The methodology discusses sample selection, sources of data, and methods of data analysis used in the report.
The analysis of the budget for Education sector in BangladeshRabiul Alam Hamon
The document analyzes Bangladesh's education sector budget. It finds that while Bangladesh has made progress toward education goals like universal primary education, challenges remain like low quality and absenteeism. The education budget as a percentage of GDP and the total budget is declining and projected to decline further. It recommends significantly increasing the budget allocation for education to improve teaching quality, fund non-formal education, invest in technical and vocational education, and emphasize efficient resource utilization.
The document presents a business plan for a restaurant called Yours Truly Restaurant. The restaurant will serve a blend of varieties including pizza, pasta, burgers, and lunch/dinner items. It aims to provide great tasting food with efficient and friendly service for families, singles, youths, and service holders. The restaurant plans to have locations in Uttara, Banani, and Dhanmondi and will promote through online, newspaper, posters and pamphlets. It will need experienced chefs, delivery men, bikes, and a farm as resources. The start-up funding will come from the owners' investment.
This document provides a business plan for an online restaurant. It includes sections on the mission, objectives, product and service feasibility analysis, target market and industry analysis, organizational feasibility, and financial feasibility. The plan proposes offering pizza, pasta, burgers, and lunch/dinner items for delivery within 1.5 hours. The target markets are youth, teenagers, and service holders in Uttara, Banani and Dhanmondi. The management team will include chefs, assistant cooks, delivery people, and a manager. Startup funding will come from the owners.
06-20-2024-AI Camp Meetup-Unstructured Data and Vector DatabasesTimothy Spann
Tech Talk: Unstructured Data and Vector Databases
Speaker: Tim Spann (Zilliz)
Abstract: In this session, I will discuss the unstructured data and the world of vector databases, we will see how they different from traditional databases. In which cases you need one and in which you probably don’t. I will also go over Similarity Search, where do you get vectors from and an example of a Vector Database Architecture. Wrapping up with an overview of Milvus.
Introduction
Unstructured data, vector databases, traditional databases, similarity search
Vectors
Where, What, How, Why Vectors? We’ll cover a Vector Database Architecture
Introducing Milvus
What drives Milvus' Emergence as the most widely adopted vector database
Hi Unstructured Data Friends!
I hope this video had all the unstructured data processing, AI and Vector Database demo you needed for now. If not, there’s a ton more linked below.
My source code is available here
https://github.com/tspannhw/
Let me know in the comments if you liked what you saw, how I can improve and what should I show next? Thanks, hope to see you soon at a Meetup in Princeton, Philadelphia, New York City or here in the Youtube Matrix.
Get Milvused!
https://milvus.io/
Read my Newsletter every week!
https://github.com/tspannhw/FLiPStackWeekly/blob/main/141-10June2024.md
For more cool Unstructured Data, AI and Vector Database videos check out the Milvus vector database videos here
https://www.youtube.com/@MilvusVectorDatabase/videos
Unstructured Data Meetups -
https://www.meetup.com/unstructured-data-meetup-new-york/
https://lu.ma/calendar/manage/cal-VNT79trvj0jS8S7
https://www.meetup.com/pro/unstructureddata/
https://zilliz.com/community/unstructured-data-meetup
https://zilliz.com/event
Twitter/X: https://x.com/milvusio https://x.com/paasdev
LinkedIn: https://www.linkedin.com/company/zilliz/ https://www.linkedin.com/in/timothyspann/
GitHub: https://github.com/milvus-io/milvus https://github.com/tspannhw
Invitation to join Discord: https://discord.com/invite/FjCMmaJng6
Blogs: https://milvusio.medium.com/ https://www.opensourcevectordb.cloud/ https://medium.com/@tspann
https://www.meetup.com/unstructured-data-meetup-new-york/events/301383476/?slug=unstructured-data-meetup-new-york&eventId=301383476
https://www.aicamp.ai/event/eventdetails/W2024062014
Generative Classifiers: Classifying with Bayesian decision theory, Bayes’ rule, Naïve Bayes classifier.
Discriminative Classifiers: Logistic Regression, Decision Trees: Training and Visualizing a Decision Tree, Making Predictions, Estimating Class Probabilities, The CART Training Algorithm, Attribute selection measures- Gini impurity; Entropy, Regularization Hyperparameters, Regression Trees, Linear Support vector machines.
06-18-2024-Princeton Meetup-Introduction to MilvusTimothy Spann
06-18-2024-Princeton Meetup-Introduction to Milvus
tim.spann@zilliz.com
https://www.linkedin.com/in/timothyspann/
https://x.com/paasdev
https://github.com/tspannhw
https://github.com/milvus-io/milvus
Get Milvused!
https://milvus.io/
Read my Newsletter every week!
https://github.com/tspannhw/FLiPStackWeekly/blob/main/142-17June2024.md
For more cool Unstructured Data, AI and Vector Database videos check out the Milvus vector database videos here
https://www.youtube.com/@MilvusVectorDatabase/videos
Unstructured Data Meetups -
https://www.meetup.com/unstructured-data-meetup-new-york/
https://lu.ma/calendar/manage/cal-VNT79trvj0jS8S7
https://www.meetup.com/pro/unstructureddata/
https://zilliz.com/community/unstructured-data-meetup
https://zilliz.com/event
Twitter/X: https://x.com/milvusio https://x.com/paasdev
LinkedIn: https://www.linkedin.com/company/zilliz/ https://www.linkedin.com/in/timothyspann/
GitHub: https://github.com/milvus-io/milvus https://github.com/tspannhw
Invitation to join Discord: https://discord.com/invite/FjCMmaJng6
Blogs: https://milvusio.medium.com/ https://www.opensourcevectordb.cloud/ https://medium.com/@tspann
Expand LLMs' knowledge by incorporating external data sources into LLMs and your AI applications.
We are pleased to share with you the latest VCOSA statistical report on the cotton and yarn industry for the month of March 2024.
Starting from January 2024, the full weekly and monthly reports will only be available for free to VCOSA members. To access the complete weekly report with figures, charts, and detailed analysis of the cotton fiber market in the past week, interested parties are kindly requested to contact VCOSA to subscribe to the newsletter.
Open Source Contributions to Postgres: The Basics POSETTE 2024ElizabethGarrettChri
Postgres is the most advanced open-source database in the world and it's supported by a community, not a single company. So how does this work? How does code actually get into Postgres? I recently had a patch submitted and committed and I want to share what I learned in that process. I’ll give you an overview of Postgres versions and how the underlying project codebase functions. I’ll also show you the process for submitting a patch and getting that tested and committed.
2. 2
“Measuring Consumers’ Attitudes towards Mobile Financial Service: A
Study on bKash”
Business Research Methods
Course Code: BUS 302
Submitted TO
Md. Moniruzzaman Khan
Assistant Professor
Faculty of Business Administration
Eastern University
Submitted BY
Rabiul Alam Hamon
ID: 133200064
Section: 03
Batch: 33
Date of Submission: 27 July, 2016
3. 3
Table of Content
No Contents Page No
Chapter 1 Introductory Part 8-12
1.1 Introduction 8-9
1.2 Rationale of the study 9-10
1.3 Objective of the study
1.3.1 Broad objective 10
1.3.2 Specific objective 10-11
1.4 Scope of the study 11
1.5 Limitation of the study 11
1.6 Information Needed & Sources 12
1.7 Methodology
1.7.1 Research Technique 12
1.7.2 Population 12
1.7.3 Sampling Frame 12
1.7.4 Sampling Technique 12
1.7.5 Sampling Size 12
1.7.6 Questionnaire Design 12
1.7.7 Fieldwork & Data collection 12
Chapter 2 Mobile Finance Service in Bangladesh 14-19
2.1 Background of the Bangladesh Financial Sector 14-15
2.2 Regulation of Mobile Finance Service 15-16
2.3 Market Development of Mobile Finance Service 16-17
2.4 Key Players of the Market 18-9
Chapter 3 Overview of bKash 21-22
3.1 Company profile 21
3.2 Mission of bKash 21
3.3 Primary value offered in market 21-22
Chapter 4 Conclusion 24
4.1 Conclusion 24
4. 4
27 July, 2016
Md. Moniruzzaman Khan
Assistant Professor
Faculty of Business
Administration
Eastern University
Subject: Submission of theses report on “Measuring Consumers’ Attitudes towards Mobile
Financial Service: A Study on bKash”
Dear Sir,
With due respect, it is great pleasure to me to submit my theses research titled, “Measuring
Consumers’ Attitudes towards Mobile Financial Service: A Study on bKash” is based on a
qualitative research. This project gave me both academic and practical exposures and help
understanding the Mobile Financial Services from the core.
I am highly obliged to you for your valuable guidance and constant attention on me and when
required in accomplishing this research. I shall be highly obliged if you are kind enough to approve
this research and provide your valuable judgment.
Though I have tried my level best to make it authentic and worth reading that the report may
have some mistakes and that are unintentional. I hope that the research will meet your expectation.
I shall be pleased to answer any sort of query you think necessary as now and when required. I
would like to give you thank for giving me the authorization to prepare this research.
Sincerely Yours,
-------------------------------
Rabiul Alam Hamon
ID: 133200064
Section: 03
Eastern University
5. 5
Acknowledgement
While the writing of this report has been difficult, the preparation for writing has been even harder.
It certainly would not have been possible without the help of many people. I would like to express
my gratitude to all the people that were involved both directly and indirectly in the preparation of
this research.
First of all, thanks to merciful and almighty Allah for help me to accomplish this research. Then,
I would like to take the opportunity to thank, Md. Moniruzzaman Khan, Assistant Professor,
Faculty of Business Administration, Eastern University. His guidance in choosing the topic of the
research helped me immensely and helped me to stay on the right track. More specifically, I would
like to thank him for imparting his time and wisdom.
Finally, I would like to thank my friends and family members who gave me mental support to
complete my research successfully.
6. 6
Abstract
This Paper demonstrates customer attitude towards bKash which is Bangladesh’s first complete
mobile financial service provider. bKash is the country’s first mobile banking concept that is
inaugurated to facilitate all kinds of people in Bangladesh in the transaction of money without
creating any type of complexity. I found out both the customer satisfaction and dissatisfaction
towards bKash throughout our analysis. I had randomly selected 30 customers bKash to conduct
our survey. At first I measured the customer satisfaction level but when I started to search about
this topic I found that there is not only satisfaction but also dissatisfaction. Both current attitudes
and new forward-looking intentions of customers I measured to gather knowledge about the
attitudes of potential and existing customers towards bKash significantly. Geographical scope
had a very strong external validity to the findings of our analysis.
8. 8
1.1 Introduction:
Earlier this century, the mobile phone became the first communications technology to have more
users in developing countries like Bangladesh. The escalation and convergence of wireless
telecommunications has created a tremendous potential platform for providing business services.
It's estimated that mobile phone users are approaching the seven billion mobile subscriptions
mark globally, and business and operators alike are keenly aware of the opportunity to connect
with potential consumers through mobile phones (Mobi Forge, 2014). Technology has become
an increasingly vital element in the competitive landscape of the financial services industry.
Banking today is undergoing a radical transformation. The symptoms are obvious; new products,
new players, new channels are appearing daily. This transformation is taking place across all
sectors of the banking industry. Technology is a major force in this radical transformation that
led to breaking the geographical, legal and industrial barriers and has created new products and
services. Banking through mobile phone has been common in developed countries for years. The
real potential of “m-banking” may be to make basic financial services more accessible to
millions of poor people.
Mobile Financial Service (MFS) is a method to offer financial services which integrate banking
with mobile wireless networks that makes enable users for executing banking transactions. It
indicates the ability to make deposits, withdraw, and to send or receive money from a mobile
account and habitually such services are enables by the use of bank agents which permit mobile
account holders to transact at independent agent locations outside of bank branches (Bangladesh
Bank, 2012). Mobile phone has turned into a device for daily usage which generates an opportunity
for the development of banking services for the unbanked people who have access to a cell phone
with the help of mobile phone banking. The remarkable progression of mobile sector all over
the world has made an exclusive chance for delivering financial as well as social services through
mobile network (Kabir, 2013, pp.96 – 114).
Bangladesh Bank has introduced permissions for Mobile Financial Service on July 2011 to
promote market development. Initially five banks have responded positively to establish active
deployments where three largest of these were launched immediately at the time of launching
and others in early 2012. According to CGAP (2014), by the end of the first quarter of 2012 the
fastest early expansion has come from bKash (Brac Bank) and Dutch Bangla Bank
Limited
9. 9
(DBBL). Even though Bangladesh’s central bank has approved more than 20 licenses to offer
mobile financial services, more than 80 percent of transactions are through a single company—
bKash Limited. bKash launched in the second half of 2011, grew to 3 million accounts by the
end of 2012, and shot up to 11 million registered accounts by the end of 2013. According to BTRC
(September, 2014) the mobile phone subscribers in Bangladesh are 118.493 million and
71.9% people are living in low banking coverage are in rural (Bangladesh Bank). So, enormous
opportunities are waiting for the banking industry of Bangladesh in the platform of mobile banking
service.
Consumer attitudes are both an obstacle and an advantage to a marketer. Choosing to discount or
ignore consumers’ attitudes of a particular product or service—while developing a marketing
strategy—guarantees limited success of a campaign. This research aims to investigate the
consumers’ attitude toward mobile banking especially on bKash Limited, the largest player of
the market. This study will be a practicable one for those who want to do research further about
Mobile Financial Service in Bangladesh as well as feasible one for the actual and potential
customers of Mobile Financial Service. It will also be an important one for the government when
the government will need information about Mobile Financial Service.
1.2 Rationale of the Study:
There are around 160 million people in Bangladesh, of which only 13 percent have bank accounts
whereas more than 90 percent are mobile phone users. More than 70% of the population of
Bangladesh lives in rural areas where access to formal financial services is difficult. Yet
these are the people who are in most need of such services, either for receiving funds from
loved ones in distant locations, or to access financial tools to improve their economic condition.
Less than 15% of Bangladeshis are connected to the formal banking system whereas over 90% has
mobile phones (bKash Limited, 2014). These phones are not merely devices for talking, but can
be used for more useful and sophisticated processing tasks. bKash was conceived primarily to
utilize these mobile devices and the omnipresent telecom networks to extend financial
services in a secure manner to the under-served remote population of Bangladesh.
The use of mobile devices for conducting banking transactions and accessing other financial
information is an emerging service that has yet to be widely adopted by mobile users. Analyzing
the consumers’ attitude toward mobile banking reveals a large and heterogeneous
picture. It is
10. 10
imperative for marketers to understand attributes leading to the adoption of or resistance to the
adoption of mobile banking services. As current market environment is going to be more
competitive, to stay and run a business in this competitive market, marketers have to take more
strategies for attracting customers to their business by creating better facilities and attractive
services. In this study I tried to measures the consumers’ attitudes towards mobile financial service
especially on bKash Limited.
1.3 Objective of the Study:
1.3.1 Broad Objective:
i. To give an overview of Mobile Financial Service (MFS) industry in
Bangladesh;
1.3.2 Specific Objectives:
i. To figure out the demographic characteristics of mobile financial
service use
11. 11
ii.To give an overview about cost, usage and all other benefits of Mobile
Financial Service as well as to produce a scenario of MFS in Bangladesh.
iii. To evaluate the performance of bKash;
iv. To determine the factors that help bKash fast drive in the market;
v. To determine the factors that influence consumers’ in adopting
MFS;
1.4 Scope of the Study:
Although the operational activity of bKash is huge, I develop my report based on Motijheel and
Chakaria only. I have selected 25 bKash points in Motijheel from where people get bKash service.
I discussed with many rural people in Chakaria about bKash to understand their perception and
attitude toward bKash. I provided respondents with survey questionnaires and assisted them to
understand the statements. On the basis of this, I develop my report.
1.5 Limitations of the Study:
The sample size of this study was not necessarily representative of the Bangladeshi population as
a whole as it ignored large rural population. Secondly, the generalizability of this research may
be impacted by fact that the sample’s is skewed towards males. This may be due to general
tendency of Bangladesh culture to do outside tasks by maximum males. In addition, this research
only explores the factors to influence motivators and inhibitors on behavioral intentions. In terms
of future research, a large scale study with more representative sample could be conducted to
validate the factors of this study and to enhance the generalizability of the research conclusions.
12. 12
1.6 Information Needed and Sources:
Data has been collected from various sources there is a combination of both primary and
secondary data that has been used in this research. Secondary data are collected from related
studies done in present timeline and primary data are collected from the survey. Different
journals, books, internet and reports of the banks have been used as the important sources of
secondary data.
1.7 Methodology:
1.7.1 Research Technique: I designed this study in descriptive format. The study is developed
in qualitative point of view. I collected information by conducting a survey and related
survey data to measure consumers’ attitude towards mobile financial service.
1.7.2 Population: Users of Mobile Financial Service is the population of this study.
1.7.3 Sampling Frame: As I prepare my report on the basis of bKash point of Motijheel area,
so the sample size is limited to this area only.
1.7.4 Sampling Technique: I used convenience sampling technique with random respondents
for sampling. I accessed my nearest mobile banking service agents’ locations and
conducted survey on the customers who came to take the service.
1.7.5 Sample Size: I conducted my survey on 30 respondents.
1.7.6 Questionnaire Design: The questions in the questionnaire were based on review of
literatures and the specific characteristics of Bangladeshi people & market context. The
specific characteristics represented different services and facilities provided by the MFS
institutions and expected by the MFS consumers of Bangladesh. The questionnaire was
translated into Bengali language to make clear and simple to understand by every
respondent. The items in the questionnaire were constructed based on the consumer attitude
and acceptance of mobile financial services.
1.7.7 Fieldwork and Data Collection: The field study was carried out in June 2016 using
empirical data. The sample size decisions were primarily based on cost considerations
and in line with studies on consumer attitude and acceptance of mobile banking. A total
of 40 respondents from Motijheel, were collected randomly at the time of transaction from
M-Banking agent stores through interview. Respondents verbally replied to a structured
questionnaire and their answers were recorded accordingly by the interviewers.
14. 14
2.1 Background on The Bangladesh Financial Sector:
Bangladesh is the 8th largest populated country in the world with around 161 million
populations. In Bangladesh, almost 31.5% populations are living under poverty (CIA, 2013). From
this huge population only 13% people have bank account (Bangladesh Bank, 2014).
Agriculture generates over 17% of GDP, and has become increasingly important as policy
makers grapple with climate change and spikes in global and domestic food prices (CIA, 2013).
Simultaneously, there is a shift underway to transition from subsistence to commercial
agriculture. Bangladesh’s financial architecture started developing within public sector
institutions established at the time of Bangladesh’s independence. According to Bangladesh
Bank (2015), after the independence, banking industry in Bangladesh started its journey with 6
nationalized commercialized banks, 2 State owned specialized banks and 3 Foreign Banks. In the
1980's banking industry achieved significant expansion with the entrance of private banks. Over
the last thirty years several new generations of private banks have entered and today make up
about one‐half of banking assets. Bangladesh has been a global leader in financial inclusion,
building some of the original and still largest microfinance institutions (MFIs). In addition to 4
state owned commercial bank, Bangladesh’s financial sector consists of 39 domestic commercial
banks, 9 foreign banks, 11 government‐owned specialized (development) banks, and 33 non
bank finance institutions (Bangladesh Bank, 2015). The Banking Sector has responded to the
agricultural needs, with increased products (notably cards and green financing) to support
development of agriculture (and sustainable agriculture). It creates an opportunity to examine
mobile channel applications. According to Bangladesh MICROCREDIT REGULATORY
AUTHORITY (2014), the MFI sector continues to grow, but with slower uptake amongst
women entrepreneurs and increasing uptake with SMEs – demonstrating market saturation in one
area, and market diversification in another. The combination of a large microfinance market and
a growing banking system has led to significant progress on financial inclusion. Where Bangladesh
is well ahead on credit with 23.3% of adults gaining access to credit, more than double the global
average for low income countries. Bangladesh’s overall access to accounts for adults (age 15 or
over) of nearly 40% compares favorably with South Asia’s average of 33% and the low‐income
country average of 27%. In terms of number of savings accounts at formal
15. 15
institutions, Bangladesh’s progress is higher than the global and regional average. Only 1.2% in
Bangladesh receive payments over the mobile phone whereas average in low income countries is
closer to 9.1%. (World Bank, 2012)
However, the financial sector has been somewhat stressed as banks have demonstrated instability
over the last few years. Bangladesh failed to meet its 7% growth target in 2014, though it is
intended to surpass 7% in 2015. Recent bank policies are targeting financial inclusion to build
and extend wealth. This includes new Mobile Financial Service Guidelines (2011). This is
catalyzing banking innovation, and it is supported by donors to build new scalable platforms, e.g.
bKash. Given the need to continue to advance financial inclusion Bangladesh Bank believes that
fully developed MFS operations can reduce barriers of physical access and cost and over time
enable a much higher proportion of the population to use basic formal sector deposit and
payment services. Access into the formal system might eventually lead to product innovations in
insurance, credit, pensions and government payments that reach many millions of Bangladeshis.
2.2 Regulation of Mobile Financial Service:
Following several years of deliberations and ad hoc permissions on MFS, the Department of
Currency Management and Payment Systems of Bangladesh Bank issued “Guidelines on Mobile
Financial Services (MFS) for the Banks” on 22 September 2011 which were subsequently
amended on 20 December 2011. These guidelines state that only a bank‐led model will be
permitted. For Bangladesh Bank this means that a customer’s account, termed "Mobile
Account", will rest with the bank and will be accessible through the customer’s mobile device.
This mobile account will be a non‐chequing account classified separately from a standard
banking account. The guidelines permit the following services, subject to specific bank proposals
to and clearances by Bangladesh Bank:
1) Disbursement of inward foreign remittances
2) Cash in/out using mobile account through agents/Bank branches/ATMs/MNO’s
outlets
3) Person to Business Payments (utility bill payments or merchant payments)
16. 16
4) Business to Person Payments (salary disbursement, dividend and refund warrant
payments, vendor payments)
5) Government to Person Payments (elderly allowances, freedom‐fighter allowances,
subsidies)
6) Person to Government Payments (taxes, levy payments)
7) Person to Person Payments P2P (One registered mobile account to another
registered mobile account)
8) Other Payments (microfinance, overdraft facility, insurance premiums, deposit
pension scheme deposits)
Bangladesh Bank has established limits on P2P transactions of taka 10,000 per day and 25,000
per month. These amounts are subject to change from time to time at the discretion of
Bangladesh Bank. Following the initial guidelines, Bangladesh Bank also issued an update to the
guidelines with some modifications on 20 December 2011. These modifications clarified that the
bank bears responsibility for know‐your‐customer (KYC) practices. It restricts P2P payments
between holders of registered mobile accounts thereby restricting the use of services in which the
recipient cashes out a payment without opening a mobile account. Twenty eight banks have been
granted permission to introduce MFS by Bangladesh Bank. Nineteen banks have launched MFS
and of these five are licensed to offer a range of service beyond inward foreign remittances.
(Bangladesh Bank, 2015)
A holistic view of the MFS status as of December 2014 are given in the table below-
No. of Banks permitted : 28
Started MFS operation : 19
Registered customers : 25.18 million
Agents : 5,40,984
TABLE 1: HOLISTIC VIEW OF THE MFS STATUS
2.3 Market Development of Mobile Financial Service:
The second half of 2011 marked an important turning point in MFS for Bangladesh. Earlier ad hoc
permissions from Bangladesh Bank were replaced with a set of guidelines providing the regulatory
certainty critical to promote market development. Providers have responded positively
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with five banks establishing active deployments. The three largest of these were launched in
2011 and early 2012 just as the Bangladesh Bank’s guidelines were being finalized and made
public. By the end of the first quarter 2012 the fastest early expansion has come from BRAC
Bank/bKash and DBBL that have the largest numbers of registered customers and agents. These
two players have also each signed up 3 and 4 MNO partners respectively. Bank Asia is notable in
that it offers an alternative mobile phone technology which does not require MNO agreements
and instead enables transactions over Smartphone using internet based applications. The
deployments that focus on establishing mobile accounts and basic P2P services have grown the
fastest so far. Earlier licenses offered to banks and their MNO partners solely for inward foreign
remittances have not grown much– a pattern consistent with international experience. The MFS
market is at an early stage of development as the newest providers are seeking to stabilize their
technology, build out agent networks and acquire new customers. This involves a complex,
sequenced set of activities that includes: (1) finding and training agents, (2) marketing to bring
attention to the service, (3) acquiring customers using know‐your‐customer (KYC) and account
opening processes while at the same time helping new customers to begin to transact. The
deployments that are most active today are seeking to expand their customer bases during 2012.
For example, BRAC Bank/bKash and DBBL aim are aiming for multi‐fold growth during 2012
which could push their combined customer accounts to between 2 and 3 million within a year’s
time, possibly more. It is hoped that other providers entering the market might also grow and
provide more alternatives and competition. It is still early and much more will be learned about
MFS in Bangladesh over the coming year. (CGAP, 2012)
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2.4 Key Players of the Market:
bKash: bKash is a joint venture between BRAC Bank and Money In Motion LLC, USA. bKash
is a leading MFS in Bangladesh, helping BRAC expand its reach beyond its ATM network and
branches, and serving smaller rural villages. The Bill and Melinda Gates Foundation invested
$10 million to help build a scalable MFS platform. Because BKash has partnerships with 4
MNOs, 98% of mobile users have access to BKash. According to CGAP (2013), it has 11 million
registered with cumulative transactions of $14.8 Million. bKash has 40,000+ agents (one in almost
every 2 rural villages in Bangaldesh). The range of services provided by bKash includes Cash in/
Out, Payments, International Remittances, P2P payments, Bill Pay etc. (Bangladesh Bank, 2012)
DBBL Mobile: DBBL Mobile is the mobile financial service of Dutch Bangla Bank. It is
available on every MNO. It has 172,020 registered customers and cumulative transactions of
$11.0 Million (2011). The numbers of agents are 23,974. DBBL has notably developed
partnerships with insurance providers and employers to use its platform for distributing
payments. Services offered by DBBL Mobile are: cash-in/Out, International Remittances, Salary
Disbursement, P2P payments, Mobile top-off, Bill Pay. (Bangladesh Bank, 2012)
Trust Mobile Money: Trust Bank offers “Trust Mobile Money” a service under its Alternative
Delivery Channel group in the bank. It has been partnering with Teletalk. The cumulative
Transactions is $0.02 Million with 1104 Customers and 170 Agents (Bangladesh Bank, 2012).
Bank Asia: Bank Asia launched its MFS in the first quarter of 2012. What differentiates Bank
Asia is that its technology base is a platform called iPay that is accessible via SmartPhones. This
allows use of internet based applications for transactions. Thus, this service can be used without
relying on a channel negotiated with an MNO. Any client with a SmartPhone could potentially
use the Bank Asia service. Bank Asia’s mobile service is comprised of four parts: Reimittance,
Ektee Bari Ektee Khamar (for the ultra poor), mobile banking based on smart phones, and
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mobile banking based on smart POS (using a smart card). It has cumulative transactions of $0.01
Million. (Bangladesh Bank, 2012)
Mercantile Bank: Mercantile Bank’s MFS service has been tested and allows the agent to transact
using a Java based program over an internet enabled Smartphone. Clients are however free to use
any phone and transact over an IVR driven menu based service. Mercantile has established 148
agent locations mostly from the UISCs. Thus far Mercantile has opened 1,392 mobile accounts,
though this is mostly from within a closed group of bank staff. Its’ cumulative transactions are
$12.5 Million. The service has not been marketed heavily to outside consumers yet. (Bangladesh
Bank, 2012)
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3.1 Company Profile:
bKash Limited, a subsidiary of BRAC Bank, started as a joint venture between BRAC Bank
Limited, Bangladesh and Money in Motion LLC, USA. In April 2013, International Finance
Corporation (IFC), a member of the World Bank Group, became an equity partner and in April
2014, Bill & Melinda Gates Foundation became the investor of the company. The ultimate
objective of bKash is to ensure access to a broader range of financial services for the people of
Bangladesh. It has a special focus to serve the low income masses of the country to achieve broader
financial inclusion by providing services that are convenient, affordable and reliable. (bKash,
2014)
3.2 Mission of bKash:
By providing financial services that are convenient, affordable and reliable, bKash aims to widen
the net of financial inclusion. bKash wants to provide a solution for Mobile Financial Services,
built on a highly scalable Mobile Money platform, allowing the people of Bangladesh to safely
send and receive money via mobile devices. (bKash, 2014)
3.3 Primary Values Offered in Market:
i. Fast: bKash is dedicated to widening the net of financial inclusion among the people of
Bangladesh by facilitating money transfer through mobile phones. bKash provides
Mobile Financial Services allowing customers to send, receive, and pay money from their
mobile phones in the fastest way.
ii. Affordable: bKash helps to send and receive money with minimal effort and cost. bKash
provides the highest benefits to its customers at an affordable cost, enabling everyone to
access the formal financial system of the economy. In addition to eliminating initial
monetary costs involved in entering the banking system, bKash greatly minimizes
opportunity costs such as time and effort required to access such services. The service
charges are minimal and there are no hidden costs involved.
iii. Secure: bKash places a high priority on protecting customer information to assure that
their transactions and data are secure with bKash. bKash’s security and compliance
practices are regularly audited to ensure that they meet the highest standards.
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iv. Convenient: bKash users enjoy increased convenience of accessing their finances from
their own mobile phones anytime, anywhere. bKash gives you the flexibility to perform
transactions 24 hours a day, 7 days a week, regardless of time and place. "No queues no
waiting"; the most convenient way of transferring money.
v. Nationwide: bKash’s extensive distribution network with more than 100,000 Agents
covering each district and Thana along with around 300 BRAC Bank ATMs provides
customers with the nationwide reach and capacity that customers need to avail bKash
services at a close proximity. The service is supported by mobile networks of all the leading
MNOs which enable customers to access bKash Wallet even from the remotest areas of
Bangladesh.
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4.1 Conclusion:
Mobile Financial Service is very new to Bangladeshi consumers and it is still at early stages in
Bangladesh. bKash’s initial growth to large scale has been among the fastest globally. At the
same time, it is still early. The bKash board and management are the first to say that there is a long
way to go and much still to do to build the business. It needs to stabilize its technology platform
to support a much higher volume of transactions. It needs to shift users from doing their
transactions via agents to using their own accounts. It also needs to move beyond payments to
provide other financial services. This research has served to enhance the understanding of the
consumers’ attitudes towards mobile banking in the context of Bangladesh. This study has also
explored the reasons behind bKash fast drive in the market. It will help the government policy
makers, m-banking service providers and practitioners in the field of Mobile Financial Service.