It gives me great pleasure to submit the report on “Customer Satisfaction in Mobile Financial Services: A Study on Bkash Limited”. This report is based on the knowledge and experiences I gained during my BBA program. I am Tania Akther Lucky, a student of Bachelor of Business Administration, ID from Sonargaon University (SU) and would like to solemnly declare that this report is over.
Customer Satisfaction in Mobile Financial Services: A Study on Bkash Limited” authentically prepared by me.
Chapter one
Introduction
1.1: Introduction
In order to fulfill my internship, the author of this study was placed in the organization namely “bKash Limited” and this report titled “bKash: A mobile banking in Bangladesh”. For my future career, I want to establish myself in the professional sector of mobile banking in Bangladesh. With this frame of mind, this internship report would provide me with a sample experience and learn the processes of mobile banking and customer services.
The chosen topic would ensure that I get the necessary knowledge from bKash to build my career in mobile banking.
1.2 Background of the Study
- Limitation of the Study
Chapter Two
Company Profile
2.1: Company Profile
- Major Industries participants
It was first established in 2010 as a joint venture between BRAC Bank Limited, Bangladesh and Money in Motion LLC, USA. In April 2013, the International Finance Corporation (IFC) became an equity partner, a member of the World Bank Group. More than 70 people for every 100 inhabitants of the country live in rural areas, where access to formal financial services is difficult.
By providing financial services that are convenient, affordable and reliable, bKash aims to widen the web of financial inclusion. The benefits are that bKash as a mobile financial service provider promises its users five core benefits which are fast, affordable, secure, convenient and nationwide. Sending and receiving money through bKash is very low cost compared to global standard.
Every bKash transaction is based on a PIN personal identification number, which is highly secure. Trust Bank offers the "Trust Mobile Money" service as part of the Alternative Delivery Channel group of the bank. Bank Asia's mobile service consists of four parts: Remittance, Ektee Bari Ektee Khamar (for the ultra-poor), smartphone-based mobile banking and smart POS-based mobile banking (using a smart card).
Name of the banks Product name 1 Dutch-Bangla Bank Limited (DBBL) Dutch-Bangla Bank Rocket. 5 Trust Bank Mobile Money 6 Bank Asia Limited Mobile Banking 7 Dhaka Bank SMS Banking 8 National Credit and Commerce Bank Limited Sure Cash 9 Mercantile Bank MyCash 10 South East Bank SMS Banking 11 First Security Islami Bank Sure Cash 12 AB Bank SMS Banking 13 United Commercial Bank Ucash.
2.3 Background of bKash Limited
Vision of Bkash Limited
Mission of Bkash Limited
Organization Structure
Accounts and finance department is fully responsible for all the accounts of the company as well as for all the financial transactions. These are such as accounts payable and receivables tracking, monthly as well as annual income tracking, payroll management, reporting and recording of the financial transactions, etc. External Corporate Affairs department is responsible for all types of corporate matters that have to be handled externally and therefore has to do a lot of external communication.
Supply chain management is responsible for coordinating all logistics related to the supply chain, such as strategy identification, source management, logistics/support, management of the security and returns system, etc.
Chapter Three
Different Packages
- 3.1 Products of bKash Limited
- Open an Account at a bKash Agent and self-Registration
- 3.3 Cash in
- Cash out
- Send Money
- Mobile recharge
- Payment
- Pay bill
- International Remittance
- Interest on Savings
- 3.11 Check Balance
- Request Statement
- Change and Reset mobile menu pin
- Add Money and Transfer Money
- I Banking
- 3.16 App related activities
To deposit money into your bKash account: Go to any bKash agent Tell the agent the amount you want to withdraw. Write down your bKash account number and the amount of cash that is the bKash agent's register. Pay the amount of money you want to cash out. exchange, the agent will send the balance to your bKash account, the cash is done. If you have enough funds in your bKash account, you can withdraw cash from any bKash agent at any time. Go to any bKash agent and tell them the amount you want to withdraw. Write down your bKash account number and amount in the agent register Dial *247# on your mobile phone for the bKash menu Select “Payout” Select “From agent ” Enter the agent's bKash account number Enter the amount Enter your bKash mobile menu pin.
Send Money allows you to transfer money from your personal bKash account to another personal bKash account. Go to your bKash mobile menu by dialing *247# Select payment Enter the account number of the bKash Merchant you want to pay to Enter the amount Enter the reference* against your payment (you can mention the purpose of the transaction in one word, eg When money reaches your bKash account, you will receive a confirmation message on your mobile.
The interest amount will be credited after necessary TAX/VAT deduction by the government to your bKash wallet. You can check your bKash account balance whenever you want from the "Check Balance" option. To ensure the security of your bKash account, it is recommended that you change your bKash mobile menu PIN when you think it may have been compromised.
To reset the pin in case you forgot or locked the pin: Go to your bKash menu by dialing *247#. Tap on 'add money' icon from bKash app home screen Tap on card to bKash and select Visa Your bKash account number will be defaulted. You need to keep your bKash number sim card and bKash app on the same device to use the app and also note that whether your phone is rooted or not and also keep your device's GPS on.
After that you can very easily login or register your bKash account in bKash app.
Chapter Four
Internship Duties and Responsibilities
- 4.1 Communication Skill
- Technical Skill
- Professionalism
- 4.4 Knowledge about different products of bKash
- Socio Economic Development Through bKash
- 4.6 Work Related Case Solving
- 4.7 SWOT Analysis
- Other Relevant Activities
In this organization we had to work with many products and services of bKash and had to memorize the information. A customer named 'X' called from to reset his bKash account pin which was locked because he tried wrong pin 3 times in a row. After hearing from him, I decided to reset his pin with some information that verified him accordingly with his bKash account information updated according to his registration information.
After verifying him, I found that his information did not match his updated information from his bKash account. A customer called and said that he changed the SIM card with the bKash account number and could not access his bKash account after he changed the carrier SIM card. I cordially informed her that if he replaces his sim card which is numbered in his/her bKash account, she/he will not be able to use his/her bKash account for 24 hours from the replacement due to the purpose of security of his/her bKash account which has been informed by Bangladesh Bank.
An officer called and said he had lost his mobile and the SIM card of his bKash account. After listening to him, I asked for his account number and verified him accordingly with his bKash account details. Then I successfully provided his service and also informed him that whenever he wants to reactivate his account, he needs to communicate with his distribution house. A customer called and said that he wants a bKash account for his business's daily transactions and to receive his payment from his customers easily.
A customer called and said that he wants to transfer his bKash account to another number and asked what procedures he needs to go through. I informed him that it is not possible to transfer bKash account but instead he can close his previous account permanently and then can re-register a new bKash account to another number as having dual account with same is not allowed personal data.
Chapter Five
Data Collection and Analysis
5.1 Data Analysis
Gender of respondent's
Education level
For any research, the reliability of is sufficient, although a coefficient of 0.70 or above is desirable. In this research, the reliability coefficient of perceived value is 0.648, the reliability coefficient of communication effectiveness is 0.239, the reliability coefficient of bKash offers is 0.718 and the reliability coefficient of satisfaction level is 0.719. The reliability of customer satisfaction, perceived value and bKash offers in this study falls within the acceptable range.
5.2 Communications Efficiency
- Customer satisfaction
5.4 Correlation Analysis
Chapter Six
Recommendation & Conclusion
- 6.1 Recommendation
- 6.2 Conclusion
- 6.3 Reference
- Appendices
It was found that bKash provides financial services outside of traditional bank branches using information and communication technologies and non-bank retail agents and also available for 365 days. So usage of bKash needs to increase and awareness about it needs to increase as well. It was found that although bKash has great prospects, it also includes some limitations.
The main constraints in the development of bKash include operational issues (eg security, system design, implementation and maintenance); misuse of products and services; legal issues (eg without proper legal support, money laundering may be affected); strategic issues; reputational issues (eg if the bank fails to provide safe and trouble-free financial services, this will cause reputational risk); credit issues and liquidity risks. The result of this study shows that perceived usefulness, perceived ease of use, subjective norm, consumer awareness and perceived risk are important determinants of bkash mobile banking adoption. The analysis concluded that usefulness, ease of use, subjective norm, awareness and risks associated with it are the main study factors to accept the bKash system.
The relatively small size of the sample limits the overview of the study's results. The survey is concentrated on a specific location, and the result may vary with location and people's demographics. Similar study can be done in other colleges and universities and the results can be compared with success level very short time.
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Appendices-A: Questionnaire for Customers Questionnaire for
Customers
