Mobile Banking in Bangladesh Essay

1218 WordsJan 13, 20145 Pages
Earlier this century, the mobile phone became the first communications technology to have more users in developing countries like Bangladesh. With the combination of two most recent technological advancements – internet and mobile phone, a new service (mobile data service) is thus enabled and the first such wireless internet commercial transaction is performed by the banking industry (Barnes and Corbitt, 2003). 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. Prospect of Mobile Banking in Bangladesh Mobile Banking is a process of no branch banking which provides financial services to unbanked communities in both urban and rural area at affordable cost. The aim of the service is not to destroy branch banking but to bring those people under the umbrella of banking service that are away from banking facilities. Government thinks it has a great prospect as it is a new technology in digital Bangladesh. Through M-banking one can avail various services i.e.; utility bill payment, Fund Transfer, Shopping, Cash Withdrawn from selected ATM or Cash point and many more exciting facilities. But in Bangladesh many people think traditionally, because they cannot think it has any facility to use of mobile banking.ccessible to millions of poor people. SWOC Analysis To find out the viability of a particular product we may perform a SWOC Analysis of the product. This will analyze the Strengths, Weaknesses, Opportunities and Challenges of the particular product. For analyzing the performance of Mobile Banking in Bangladesh the SWOC Analysis is considered. Strengths Mobile Banking is new in our economy. Only a few banks are now offering this service. Through Internet Banking Most of the banks are offering only balance

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