AN INTERNSHIP
REPORT
ON
“AN OVERVIEW OF
ONLINE BANKING SYSTEM IN BANGLADESH,
A STUDY ON
NATIONAL BANK LIMITED”
BY
Dipesh Chandra
Barma
Student ID:
1103120
BBA (Major in
Finance)
Department of
Finance and Banking
Faculty of
Business Studies
HSTU, Dinajpur.
Bachelor of
Business Administration (BBA)
This
report has been prepared for the Faculty of Business Studies,
Hajee Mohammad
Danesh Science and Technology University, Dinajpur, in partial fulfillment of
the requirement for the degree of Bachelor of Business Administration (BBA)
program.
Faculty
of Business Studies
HAJEE MOHAMMAD
DANESH SCIENCE AND TECHNOLOGY UNIVERSITY,
DINAJPUR-5200
December-2015
AN INTERNSHIP
REPORT
ON
“AN OVERVIEW OF
ONLINE BANKING SYSTEM IN BANGLADESH
A STUDY ON
NATIONAL BANK LIMITED (NBL)”
BY
Dipesh Chandra
Barma
Student ID:
1103120
BBA (Major in
Finance)
Department of
Finance and Banking
Faculty of
Business Studies
HSTU, Dinajpur.
SUBMITTED TO
Supervisor
Md. Jahangir Alam Siddikee
Assistant Professor
Department
of Finance and Banking
Faculty
of Business Studies
HSTU, Dinajpur.
|
Co-Supervisor
Bilkish Banu
Lceturer
Department
of Economics
Faculty
of Business Studies
HSTU, Dinajpur.
|
This
report has been prepared for the Faculty of Business Studies, Hajee Mohammad Danesh Science
and Technology University, Dinajpur, in partial fulfillment of the requirement
for the degree of Bachelor of Business Administration (BBA) program.
Faculty
of Business Studies
HAJEE MOHAMMAD
DANESH SCIENCE AND TECHNOLOGY UNIVERSITY,
DINAJPUR-5200
December-2015
Letter of Transmittal
Date: 15th December, 2015
To
Md. Jahangir Alam Siddikee
Assistant Professor
Department of Finance and Banking
Faculty of Business Studies
HSTU, Dinajpur.
Subject:
Submission of Internship Report.
Dear Sir,
I am very glad to inform you that I have finally
completed the internship report successfully, which was a partial fulfillment
of the requirement of the requirement for the Bachelor of Business
Administration program.
The topic of my
internship report is “An overview of online banking system in Bangladesh, A study on National Bank
Limited”.
I
enjoyed very much by preparing this study as well as it has increased my
knowledge very much about online banking system in Bangladesh. I am undeniably
thankful to you & my Department for giving me the opportunity to obtain
practical skills as well as to learn how to cope with the practical situations,
which is very much valuable for my future career.
Finally I assure you that I have tried my best to
make a systematic and informative summary based on my practical work. If you
need further clarification, I am always ready to answer your questions.
Dipesh Chandra Barma
Student No. 1103120
B.B.A. (Major in Finance)
Department of Finance and Banking
Faculty of Business Studies,
HSTU, Dinajpur.
Supervisor’s
Declaration
This is to declare that Dipesh Chandra Barma, Student ID: 1103120, B.B.A. (Major in Finance),
Level-4, Semester-II, Hajee Mohammad Danesh Science and Technology University,
Dinajpur, has successfully completed B.B.A. Internship Program entitled on “An overview of online banking system in
Bangladesh, A study on National Bank Limited” under my supervision and guidance.
Therefore, he is directed to submit
his report for evaluation. I wish him success at every sphere of his life.
Md. Jahangir Alam Siddikee
Supervisor
&
Assistant
Professor
Department of
Finance and Banking
Faculty of
Business Studies
Hajee Mohammad
Danesh Science and Technology University, Dinajpur
Co-supervisor’s
Declaration
I hereby declare that Dipesh Chandra Barma, Student ID: 1103120, B.B.A. (Major in Finance),
Level-4, Semester-II, Hajee Mohammad Danesh Science and Technology University,
Dinajpur, has successfully completed B.B.A. Internship Program entitled on “An overview of online banking system in
Bangladesh, A study on National Bank Limited” under my supervision and guidance.
Therefore, he is directed to submit
his report for evaluation. I wish him success at every sphere of his life.
Bilkish Banu
Co-supervisor
&
Lceturer
Department of Economics
Faculty of
Business Studies
Hajee Mohammad Danesh Science and Technology
University, Dinajpur
ACKNOWLEDGEMENT
Thanks
to almighty God for blessing in completing the report within the scheduled
time. No noble achievement can be achieved by an individual. In such a way, my
report would not have been done without the sincere and utmost co-operation of
some individuals to whom I am grateful and thank them the very deep of my
heart.
Most
of all, I would like to express my deepest sense, love, respect and affection
to my honorable teacher Md. Jahangir Alam Siddikee, my respected supervisor for
giving his valuable time and sincere guidance during the study period, which
has greatly inspired me in preparing his report.
I
would like to extend thank to H.R.D. authority of National Bank Limited who
allow me to do internship on this bank. I also grateful to all kinds of
officers and staffs of National Bank Limited, Dinajpur Branch by giving me time
and advice to learn all banking activities and help to prepare this report.
I
would like to extend thanks to all my course teachers and the department for
sponsoring such an academic work. Also like to give my special thanks and
greets to inmates and BBA students and others for giving me good advice,
suggestions, inspirations and support.
Finally,
I am indebted to my family, a permanent source of inspiration for all my words
and achievements.
Dipesh Chandra Barma
Student ID. 1103120
B.B.A. (Major in Finance)
Department of Finance and Banking
Faculty of Business Studies,
Hajee Mohammad Danesh Science & Technology University,
Dinajpur.
ABSTRACT
The online banking environment has
grown tremendously over the past several years and will continue to grow as
financial institutions continue to strive to allow customer to complete money
transfer, pay bills, access critical information by online banking. During this
same time, online banking has been plagued by internet criminals and fraudsters
attempting to steal customer information. Phishing, pharming and other types of
attacks have become well known and are widely used as a means for fraudsters to
obtain information from customers and access online banking accounts. As a
result, authenticating customers logging onto their online banking service has
become a crucial concern of financial institution.
This report portrays at first an overview
of National Bank Limited conceptual framework of online banking, phenomena of
online banking, overall impact of online system, SWOT analysis, findings,
recommendation and conclusion that provide clear picture of the need of
enhanced authentication in online banking. It presents the main security
concerns and criminal activities that are driving the need for stronger
authentication, as well as showing the growth of online channel that is being
driven by consumer and financial institution. This study simplifies and
provides a resource for understanding the many option available when
implementing enhanced authentication in the online banking environment. It
provides detailed analysis of the many authentication solutions available, as
well as a set of guidelines for selecting and implementing enhanced
authentication, based on the learning and knowledge of industry experts and the
consumer.
Table
of Contents
“An overview of online banking in Bangladesh, A study on National Bank
Limited”
CHAPTER-01
|
INTRODUCTION
|
Page No
01-06
|
1.1
|
Introduction
of the study
|
02
|
1.2
|
Background
of the study
|
02
|
1.3
|
Objectives
of the Study
|
03
|
1.4
|
Methodology
of the study
|
04
|
1.5
|
Scope of
the report
|
05
|
1.6
|
Limitations
of the Study
|
06
|
CHAPTER-02
|
AN OVEVIEW OF NATIONAL BANK LIMITED
|
07-21
|
2.1
|
National
Bank at a glance
|
08
|
2.2
|
Mission
|
10
|
2.3
|
Vision
|
11
|
2.4
|
Objectives
of NBL
|
11
|
2.5
|
Organization
structure
|
11
|
2.6
|
Division
of NBL
|
13
|
2.7
|
Strategic
Priority
|
13
|
2.8
|
Corporate Slogan
|
14
|
2.9
|
Corporate Culture
|
14
|
2.10
|
Schemes
|
15
|
2.11
|
Online offers
|
15
|
2.12
|
Branches and ATMs
|
16
|
2.13
|
Deposits, Investment & Profit
of NBL
|
16
|
2.14
|
Highlight
of Dinajpur Branch
|
18
|
CHAPTER-03
|
THEORETICAL
OVERVIEW OF ONLINE BANKING
|
22-37
|
3.1
|
Online banking
|
22
|
3.2
|
Objectives
of Online Banking
|
24
|
3.3
|
Online
Banking System
|
25
|
3.4
|
Online
Banking Background
|
27
|
3.5
|
Main
Features of Online Banking System
|
28
|
3.6
|
Present
Scenario of Online Banking System in Bangladesh
|
39
|
3.7
|
Benefits
of Online Banking System
|
33
|
3.8
|
Security
of Online Banking System
|
34
|
3.9
|
Advantages
of Online Banking
|
35
|
3.10
|
Disadvantages
of Online Banking
|
36
|
CHAPTER-04
|
ONLINE SERVICES PROVIDED BY NATIONAL
BANK TO ITS CUSTOMER
|
38-51
|
4.1
|
List of Online services
|
39
|
4.2
|
NBL ATM Card
|
39
|
4.3
|
NBL
Debit Card
|
42
|
4.4
|
NBL Credit Card
|
43
|
4.5
|
NBL Power Card
|
46
|
4.6
|
POINT OF SALE (POS) Service
|
46
|
4.7
|
Check Truncation
|
47
|
4.8
|
Home
Banking
|
48
|
4.9
|
RETAIL
AUTOMATED CLEARING HOUSE (ACH) Service
|
49
|
4.10
|
NBL
SMS Banking
|
50
|
4.11
|
Internet
Banking
|
50
|
4.12
|
Tele-banking
|
51
|
CHAPTER-05
|
OVERALL IMPACT OF ONLINE BANKING
SYSTEM
|
53-56
|
5.1
|
Traditional
banking Vs. Online banking
|
53
|
5.2
|
Impact
of Online Banking System on Customer
|
54
|
5.3
|
Impact of Online Banking System in Bank Industry
|
55
|
CHAPTER-06
|
SWOT
ANALYSIS
|
57-59
|
CHAPTER-07
|
FINDINGS,
RECOMMENDATIONS AND CONCLUSION
|
61-63
|
7.1
|
Findings
|
61
|
7.2
|
Recommendations
|
62
|
7.3
|
Conclusion
|
63
|
ACRONYMS
|
65
|
|
Reference
|
66
|
Chapter-01
Introduction
1.1.
Introduction
Generally the word “Bank” refers to
the financial institution which deals with money, receiving deposits and
providing loans to the customer. “Bank” is a little word but plays a very
significant role in each country for the economic development. Even it is
become impossible now a day to think about a country’s economical environment
excluding banking system. Whatever the countries are standing poor, less
develops, developing or developed but all the countries should have the banking
system. Banking system is the heart of each country’s economic body. Economic,
monetary and fiscal all the policy directly or indirectly depends on banking
system for its better implementation.
The commercial bank has one
important characteristic that distinguishes it from other kind of financial
institutions. This important distinction is that it alone can hold deposits to
be drawn upon by check, it has the power to create and destroy money within
limit, through the use of loans and demand deposits. Commercial bank lends
money by creating demand deposits and retire loan by canceling demand deposits.
The objectives of demand deposits and loan management are to maximize the
performing assets as well as ensuring the optimal point of loan and advance and
their efficient management. The overall success in deposits and loan management
depends on the banks deposits and credit policy, portfolio of credit,
monitoring, supervision and follow up of the loan and advance.
1.2. Background of the study:
Today’s business world is dynamic
and competitive. Organizations are looking for talent, extrovert graduates who
belong to high degree of adaptability quality. Internship program has been
included to BBA curriculum for providing talent, up-to date and smart,
efficient executives. Internship means gaining supervised experience.
Internship program offers an
opportunity to know the environment of a particular organization. By doing
this program, I have developed and refined my theoretical knowledge gained
in the classroom. This program provides exciting experience of planning,
culture, behavior of employee and management style of that organization, which
helps me to fill the gap between theoretical and real practical world.
Theoretical knowledge does not make
a person perfect. To implement the academic knowledge, practical knowledge
related to it, is important. A perfect consideration between theory and
practice is important in the context of modern business world. In order to
resolve the dichotomy between theory and practice, Hajee Mohammad Danesh
Science and Technology University arranges internship program as a partial
completion of BBA program. This program is necessary for every student to
complete his or her academic degree. Internship program brings students closer
to the business theory and practical and thereby help them to substantiate
their knowledge so that they can prepare themselves to start a successful
career.
Under the internship program, every
student is assigned to an organization with a view to acquire practical
knowledge. After taking practical knowledge, each student is required to
prepare a report on the selected organization under the guideline of his/ her
assigned teacher.
As a participant in this program, I
was place at National Bank Limited, Dinajpur Branch, for a period of 45 days.
1.3. Objectives of the Study:
The main objective of the internship
program is to formalize me with the real market situation and help me learn how
bookish concepts are used in the real market. Therefore, from the very
beginning of the study I have tried my level best to conduct my internship with
a view to achieve some specific objectives and I have gone across the various
department of the bank to acquire some related information and
functioning procedure regarding those department.
The
primary objectives of this report are:
1. To acquire knowledge about the online
activities of a bank in Bangladesh.
2. To examine the present status of
existing online banking in Bangladesh.
3. To know the adoption of online
banking in Bangladesh context.
4. To assess the existing internet banking
scenario in Bangladesh.
5. To explore the prospects of internet
banking in Bangladesh context.
6. To learn how to implement and use
Online Banking System.
7. Realizing
the importance and use of Telecommunication in Banking Sector.
8. Find out the effects of telecommunication in
Banking Sector.
The secondary objectives of this
report are:
1. To know the online operation of
commercial banks in Bangladesh.
2. To describe the online customer
services and products of NBL.
3. To analyze the barriers faced by the
banks in Bangladesh
4. To suggest a supportive role in the
progress of online banking system in financial sector.
5. To know how the branches are
efficiently controlled centrally.
6. To identify whether all process are
perfectly and effectively practiced or not.
7. To find out the sectors in which
such types of problems exist.
1.4. Methodology of the study:
Methodology is a systematic procedure, which is used to
solve a problem easily in a particular area. It starts which problems, makes
hypothesis and conclude decision finally. If covers collection, censuring,
analyzing and interpreting of data to lead decision, i e. methodology includes
why a study we have been undertaken, how the problems have been defined in what
way and why the hypothesis has been formulated what data have been collected
and what particular method has been adopted, why particular technique of
analyzing data has been used and a host of similar other questions are usually
answered when we take about methodology concerning a problem or study. This
report is based mainly on observations that I experienced during the internship
period. Both
the Secondary and Primary Sources have been used to collect data for this
research paper. Apart
from these, helpful information has been collected from online resources.
The report is based on research methodology.
1.4.1. Collection of Data:
The study is explanatory in nature. Data have been
collected from both primary & secondary sources. More than 70% data collected from bank and articles, different web sites, Wikipedia,
workshop and 15% are collected from the books as well as the information
provided by the competitive banks.
v Primary Sources
1. Conversation
with bank employees.
2. Informal
conversation with clients.
3. Personal
observation
4. Performance
of practical activities
5.
Practical
deskwork
6.
Expert's
Opinion
7.
Direct
Interviews with relevant personnel
v
Secondary
Sources
1. Annual
report of National bank Limited
2. Different
relevant text books
3. Various
files, balance sheet and various documents
4. Bangladesh
bank publications.
5. Web
site: www. nblbd.com
1.5. Scope of the report:
This report has been prepared
through extensive discussion with bank employees, clients and officers and on
the information gathered from the annual report and prospectus of National Bank
Limited. I have got the great opportunity to have an in-depth knowledge of the Online
Banking of NBL.
1.6. Limitations of the Study:
Although I have got the full
co-operation from employees, clients officers of NBL and they also gave me much
time to prepare this report properly in the way of my study, I have faced some
difficulties, which made my conduction of the program little hazardous.
Some
of these are mentioned below:
1. It should be certainly mentioned
that the time 45 days is very short to get the total view of the banking
functions.
2. The officers were quite busy with
their regular activities. For this reasons it was also a little problem
to collect detail information from them.
3. In some cases, they could not be
able to supply me any information for the reason that they have no printed
documents.
4. Office secrecy was one of the most
important problems. Disclosing of some information was restricted.
5. In case of secondary data
collection, there was very little secondary information. There were few support
books, reports, journals, etc. moreover, the branch office had very little of
this information. That’s why bulk of it had to be collected from the head
office.
6. As the officers were very busy with
their day-to-day work, they could provide very little time.
Chapter-02
An overview of National
Bank Limited
2.1. An overview of National Bank Ltd
National Bank Limited has its
prosperous past, glorious present, prospective future and under processing
projects and activities. Established as the first private sector bank fully
owned by Bangladeshi entrepreneurs, NBL has been flourishing as the largest
private sector Bank with the passage of time after facing many stress and
strain. The members of the board of directors are creative businessmen and
leading industrialists of the country. To keep pace with time and in harmony
with national and international economic activities and for rendering all
modern services, NBL, as a financial institution, automated all its branches
with computer networks in accordance with the competitive commercial demand
of time. Moreover, considering its forth-coming future, the infrastructure of
the Bank has been rearranging. The expectation of all class businessmen, entrepreneurs
and general public is much more to NBL. At present we have 184 branches under
our branch network. In addition, our effective and diversified approach to
seize the market opportunities is going on as continuous process to
accommodate new customers by developing and expanding rural, SME financing
and offshore banking facilities.
The emergence of National Bank
Limited in the private sector was an important event in the Banking arena of
Bangladesh. When the nation was in the grip of severe recession, the
government took the farsighted decision to allow the private sector to revive
the economy of the country. Several dynamic entrepreneurs came forward for
establishing a bank with a motto to revitalize the economy of the country.
|
National Bank Limited was
born as the first hundred percent Bangladeshi owned Bank in the private
sector. From the very inception, it was the firm determination of National
Bank Limited to play a vital role in the national economy. We are determined
to bring back the long forgotten taste of banking services and flavors. We
want to serve each one promptly and with a sense of dedication and dignity.
|
The then President of the
People's Republic of Bangladesh Justice Ahsanuddin Chowdhury inaugurated the
bank formally on March 28, 1983 but the first branch at 48, Dilkusha
Commercial Area, Dhaka started commercial operation on March 23, 1983. The
2nd Branch was opened on 11th May 1983 at Khatungonj, Chittagong.
|
At present, NBL has been
carrying on business through its 184 branches & Agri Branches spread all
over the country. Since the very beginning, the bank has exerted much
emphasis on overseas operations and handled a sizable quantum of home bound
foreign remittance. It has drawing arrangements with 415 correspondents in 75
countries of the world, as well as with 37 overseas Exchange Companies
located in 13 countries. NBL was the first domestic bank to establish agency
arrangements with the world famous Western Union in order to facilitate quick
and safe remittance of the valuable foreign exchanges earned by the
expatriate Bangladeshi nationals. This has meant that the expatriates can
remit their hard-earned money to the country with much ease, confidence,
safety and speed.
|
NBL was also the first among
domestic banks to introduce international Master Card in Bangladesh. In the
meantime, NBL has also introduced the Visa Card and Power Card. The Bank has
in its use the latest information technology services of SWIFT and REUTERS.
NBL has been continuing its small credit program for disbursement of
collateral free agricultural loans among the poor farmers of Barindra area in
Rajshahi district for improving their livelihood.
|
NBL focused on all key areas
covering capital adequacy, maintaining good asset quality, sound management,
satisfactory earning and liquidity. As a consequence, it was possible to a
record growth of 175.51 percent with Tk. 8,809.40 million pre-tax profit in
the year under review over the preceding year. The net profit after tax and
provision stood at Tk. 6,860.34 million which was Tk. 2,070.47 million in the
previous year registering a 231.34 percent rise. The total deposits increased
to Tk. 102,471.83 million being 33.37 percent increase over the preceding year.
Loans and advances stood at Tk.92,003.56 million in the year under report
which was Tk. 65,129.289 million representing 41.26 percent rise over the
preceding year. Foreign trade stood at Tk. 144,255.00 million in 2010
compared to Tk. 115,939.00 million, increased by 24.42 percent compared to
that of the previous year. During 2010, the bank handled inward remittance of
Tk. 49,145.30 million, 10.73 percent higher than that of the previous year.
Return on Equity (ROE) registered a 77.84 percent rise over the preceding
year.
|
National Bank, has now
acquired strength and expertise to support the banking needs of the foreign
investors. NBL stepped into a new arena of business and opened its Off Shore
Banking Unit at Mohakhali to serve the wage earners and the foreign investors
better than before.
|
Since its inception, the
bank was aware of complying with Corporate Social Responsibility. In this
direction, we have remained associated with the development of education,
healthcare and have sponsored sporting and cultural activities. During times
of natural disasters like floods, cyclones, landslides, we have extended our
hand to mitigate the sufferings of victims. It established the National Bank
Foundation in 1989 to remain involved with social welfare activities. The
foundation runs the NBL Public School & College at Moghbazar where
present enrolment is 1140. Besides awarding scholarship to the meritorious
children of the employees, the bank has also extended financial support for
their education. It also provided financial assistance to the Asiatic Society
of Bangladesh at the time of their publication of Banglapedia and observance
of 400 years of Dhaka City.
|
The Transparency and
accountability of a financial institution are reflected in its Annual Report
containing its Balance Sheet and Profit & Loss Account. In recognition of
this, NBL was awarded Crest in 1999 and 2000, and Certificate of Appreciation
in 2001 by the Institute of Chartered Accountants of Bangladesh.
|
The bank has a strong team
of highly qualified and experienced professionals, together with an efficient
Board of Directors who play a vital role in formulating and implementing
policies.
|
2.2. Mission
Efforts for expansion of our
activities at home and abroad by adding new dimensions to our banking
services are being continued unabated. Alongside, we are also putting highest
priority in ensuring transparency, account ablility, improved clientele
service as well as to our commitment to serve the society through which we
want to get closer and closer to the people of all strata. Winning an
everlasting seat in the hearts of the people as a caring companion in
uplifting the national economic standard through continuous upgradation and
diversification of our clientele services in line with national and
international requirements is the desired goal we want to reach.
|
2.3.Vision
Ensuring highest standard of
clientele services through best application of latest information technology,
making due contribution to the national economy and establishing ourselves
firmly at home and abroad as a front ranking bank of the country are our
cherished vision.
|
2.4.
Objectives of NBL
1. To
provide standard financial services
2. Profit
Maximization
3. To
ensure better and prompt service to respective clients by applying modern
information.
4. To
ensure in rising standard of professions by apply efficiency and technical
knowledge
5. To
ensure maximum benefit by using highest equity of the respective
2.5.
Organization structure:
Organization
structure plays an important role on the profitability of any organization.
National bank limited is a centralized organization and operates in a. That is,
its activities are designed on the basis of traditional banking business, such
as credit, international division, investment, administration, and operation
etc. NBL has a formal organizational structure that is highly specialized and
centralized. The whole organizational hierarchy is given below-
CHAIRMAN
|
MD
|
AMD
|
DMD
|
SEVP
|
EVP
|
SVP
|
SAVP
|
VP
|
PO
|
JO
|
SPO
|
FEO
|
EO
|
AVP
|
Staff
|
2.6. Division of NBL
- Audit & Inspection Division.
- ATM Card Division
- Board Secretariat
- Budget & Monitoring Division.
- Credit Division-1.
- Credit Division.-2.
- Credit Card Division.
- Classified Loan Recovery Division.
- Financial Administration Division.
- General Banking Division.
- Human Resources Division.
- International Division.
- Information System & Technology Division.
- Law & Recovery Division.
- Marketing Division.
- Merchant Banking Division.
- Public Relations Division.
- Protocol Division.
- Reconciliation Division.
- System & Operations Division.
2.7. Strategic Priority
National Bank Limited has been developing and maintaining
some strategic policies which are given below:
1. To manage and operate the Bank in
the most efficient manner to enhance financial performance and to control cost
of fund. 2. To strive for customer satisfaction through quality control and delivery of timely services.
3. To identify customers' credit and other banking needs and monitor their perception towards our performance in meeting those requirements.
4. To review and update policies, procedures and practices to enhance the ability to extend better service to customers.
5. To train and develop all employees and provide them adequate resources so that customer needs can be reasonably addressed.
6. To promote organizational effectiveness by openly communicating company plans, policies, practices and procedures to employees in a timely fashion.
7. To cultivate a working environment that fosters positive motivation for improved performance
8. To diversify portfolio both in the retail and wholesale marke.
9. To increase direct contact with customers in order to cultivate a closer relationship between the bank and its customers.
2.8. Corporate Slogan
Their corporate slogan is "A Bank for Performance with
Potential".
2.9. Corporate Culture
Corporate culture is the collective behavior of humans that
are part of an organization, it is also formed by the organization values,
visions, norms, working language, systems, and symbols, it includes beliefs and
habits. It is also the pattern of such collective
behaviors and assumptions that are taught to new organizational members as a
way of perceiving, and even thinking and feeling. Organizational culture
affects the way people and groups interact with each other, with clients, and
with stakeholders
1. Clients come first
2. Good sense of professional expertise
and ethics 3. Flexibility
4. Instant Response and quick decision
5. Using technology
6. Train all employees to cope up with IT world
2.10. Schemes
NBL aims to satisfy all clients, regardless of how big or small
they may be. Individuals are counseled on the best type of accounts suitable to
them such as Current, Savings, Short Term Deposits, Fixed Deposits, Consumer
Asset and Liability Products, etc.
i.
Saving
Deposits
ii.
Current
s deposits
iii.
Team
deposits
iv.
Foreign
currency Deposits
v.
Monthly
Income Scheme
vi.
Monthly
Savings Scheme
vii.
Double
Benefit Scheme
viii.
Education
Saving Account
ix.
Millionaire
income Scheme
2.11. Online offers
NBL offers a variety of online services regarding account
information and other queries. Most of
them are being given below which will be explained in the
next chapter of the report.
i.
ATM
(Automated Teller Machine)
ii.
Credit
Card
iii.
Debit
Card
iv.
POS(Point
Of Sale)
v.
SWIFT(Society
for Worldwide Inter-bank Financial Telecommunication)
vi.
Online
shopping
2.12. Branches and ATMs
NBL has 184 branches and 60 ATMs of its own and another over
1000 ATMs sharing with other banks throughout the country. It is planning to
double its ATMs within next year.
2.13. Deposits, Investment &
Profit of NBL
Deposits:
Deposit growth continued through expansion of branch network
in urban and rural areas within the country and expansion of overseas
operations to facilitate the wage-earners, vigorous marketing of innovative
competitive deposit products, quality counter services. Deposit growths are
shown in figure:
Investment:
The investment portfolio of the bank stood 54,885.52 million
in 2014 which was 56,827.52 in 2013. With the aim of realizing the vision, the
bank leveraged its business strategy during this year2014 in such a way to
consolidate its market position further while the ensuring the sustainability
of growth
Operating and Net Profit:
The year 2014 was another challenging year for the banking
sector due to various domestic and external factors beyond the control. NBL
generated operating profit of Tk. 6,722.39 million in 2014 which was Tk.
3,539.91 million in 2013. Net profit after tax registered stood at Tk. 2,660.29
million in 2014 after making provision for loan loss and taxation, which was
Tk. 2,116.59 million in 2013. Increase of net profit is due to higher credit
growth, better recovery performance of NBL.
2.14. Highlight of Dinajpur Branch:
National
Bank Limited (NBL) Dinajpur Branch was established in 5 june 1988 as 37th
Branch. Mr Md. Abdur Rahim is the Branch manager &
Senior Assistant Vice President at Dinajpur Branch and Md. Ahia Kalam, Second
Manager & Senior Principal Officer of National Bank Limited in Dinajpur
Branch. The respected personnel are Md. Rajib Ali, Executive Officer, Ahsan
Haque, senior officer (Cash Incharge); Md. Rezwan Hossain, Junior
Officer(General Banking).
General Information:
Branch
Name :
Dinajpur
Branch
Branch
Code : 37
Location
of the Branch : Modern more, Dinajpur
Date of
Opening of the Branch : 5 June 1988.
Branch
Premises : First Floor of two storied building.
Name of
Present In-charge : Md. Abdur Rahim
Branch
Phone : 01819686445
Branch
Email : dinajpur@nblbd.com
No of
Employees :
20
v Basic Operation of NBL in Dinajpur
Branch
The basic
operation of NBL in Dinajpur Branch is to collect deposit and give loan. Other
than that, for the industrial and business as well as social and economic
development bank also perform some other activities. The overall banking
functions can be divided into two broad categories, such as-
1.
Micro Operation
2.
Macro operation
Micro Operation
The
banking operation which are directly related to clients:
1.
Receiving deposits
2.
Paying interest
3.
Extension of credit and receiving deposits
4.
Creation of credit deposits
5.
Issuing cheeks
6.
Issuing notes
7.
Circulation of money
Macro operation
The
operation not limited between the clients and the bank, rather help for the
overall development of country are the Macro operation of bank-
- 1. Investment of capital
- 2. Role in economic development
- 3. Transmission of money
- 4. Safe custody of money
- 5. Industrial development
v Services of NBL in Dinajpur Branch
Credit card:
National
Bank offer Credit Card to the employee & their clients. Through its Credit
Card, National Bank Limited has not only initiated a new scheme but also
brought a new life style concept in Bangladesh. Now the dangers and the worries
of carrying cash money are memories of the past. Credit Card comes in both
local and international forms, giving the client power to buy all over the
world. Now enjoy the conveniences and advantages of Credit Card as you step
into the new millennium.
NBL ATM Service
National
Bank Limited has introduced ATM service to its customers in Dinajpur Branch.
The card will enable to save our valued customers from any kind of predicament
in emergency situation and time consuming formalities. NBL ATM Card will give
our distinguished clients the opportunity to withdraw cash at any time, even in
holidays, 24 hours a day and 7 days a week.
Western Union Money Transfer
Western
Union is a global leader in money transfer and message services.NBL was the first domestic bank to
establish agency arrangements with the world famous Western Union in order to
facilitate quick and safe remittance of the valuable foreign exchanges earned
by the expatriate Bangladeshi nationals. This has meant that the expatriates
can remit their hard-earned money to the country with much ease, confidence,
safety and speed.
Issuance of DD, TT & PO
This Bank offers DD, TT & PO for
transferring the funds from one place to another to our customer. It is called
Inland Remittance. It is one kind of sources of income of the branch. Bank can
issue DD, TT & PO against cash or Cheque. To issue the above we have to
follow some rule & regulations.
Organizational
Hierarchy of Dinajpur Branch
Assistant Vice President (AVP)
|
Computer Operator
|
Senior Principal Officer (SPO)
|
Executive Officer (EO)
|
Junior Officer (JO)
|
Senior Executive Officer (SEO)
|
Others Staff
|
Chapter-3
Theoretical Overview of
Online Banking
3.1 Online
banking
Online banking
is a
system allowing individuals to perform banking activities at home, via the
internet. Some online banks are traditional banks which also offer online
banking, while others are online only and have no physical presence. Online
banking through traditional banks enable customers to perform all routine
transactions, such as account transfers, balance inquiries, bill payments, and
stop-payment requests, and some even offer online loan and credit card
applications. Account information can be accessed anytime, day or night, and
can be done from anywhere. A few online banks update information in real-time,
while others do it daily. Once information has been entered, it doesn't need to
be re-entered for similar subsequent checks, and future payments can be
scheduled to occur automatically. Many banks allow for file transfer between
their program and popular accounting software packages, to simplify record
keeping. Despite the advantages, there are a few drawbacks. It does take some
time to set up and get used to an online account. Also, some banks only offer
online banking in a limited area. In addition, when an account holder pays
online, he/she may have to put in a check request as much as two weeks before
the payment is due, but the bank may withdraw the money from the account the
day that request is received, meaning the person has lost up to two weeks of
interest on that payment. Online-only banks have a few additional drawbacks: an
account holder has to mail in deposits (other than direct deposits), and some
services that traditional banks offer are difficult or impossible for
online-only banks to offer, such as traveler's checks and cashier's checks.
Online Banking is a modern
computerized system of providing banking services by the banks to the clients.
By using modern technologies, banks have become able to provide their existing
services more quickly, more accurately and conveniently. It has created
revolution in the service delivery of the banking industry. The electronic
banking expert, Mr. Ellen H. Lipis said “Electronic banking systems are
electronic systems that transfer money and record data relating to the
transfer, electronic banking services are developing tools in the overall
banking services delivery system”. Using these electronic banking systems, banks
usually provide the following services:
1. Self
deposit and withdrawal facilities
2.
Quick transfer of fund from one bank to
another with the help of Electronic Fund Transfer Systems (FETS)
3.
Payment of bills, salaries and opening
of Letter of Credit (L/C) and utility services while staying at home or at own
chamber,
4. Conducting
internal banking activities with the help of electronic systems.
3.2.
Objectives of Online Banking:
From
Bankers point of view:
1. Provide
retail services at reduced cost through branch network
2. Reduction
of administrative expenses by reducing the number of workers with the help of
electronic banking
3. Reduction
of volume of paper work with the help of online banking
4. Increase
of income through different types of fees like Debit Card fee, Credit Card fee
etc.
5. Strengthening
the position in the competitive environment
6. Expanding
the service in the remote areas
From
Client’s point of view:
1. Receiving
timely and instant information, such as:
a. Balance
statement
b. Account
statement
c. Transaction
statement
2. Ability
to deposit and withdraw of money flawlessly within short time and at lower cost
3. Advantageously
making payment for the goods and services
4. Staying
at home or outside, availing the facility like opening L/Cs, making investment,
obtaining loan facility and above all making fund transfer with the help of
electronic banking.
5. Removing
the risk of carrying hand cash by ATM services
6. Securing
the advantage of maintaining secrecy of the clients
7.
Consumer
can pay different types of utility bills without any trouble and at the same
time he or she can review current market policies and position.
8.
Consumers
can apply for credits in case of shortage of balance
9.
People
can now easily buy things without going marketplace. It is quite possible to
buy almost anything from home because of Online Banking System
3.3.
Online Banking System:
Online banking is the one that
dates back to 1995 when presidential savings bank gave their customers the
option of viewing account information and performing certain transactions online.
Today, online banking is huge with most every major bank offering it. There is
certainly a great benefit associated with banking on the internet. One has the
ability to handle finances at any time, not just during regular business hours.
Banks do not have the best hours.
Many people are at work when their bank is open and get off work after their
bank is closed. This makes it very difficult for these people to take care of
their banking. While bank branches do have limited Saturday hours, this is usually
and extremely busy time to go to the bank. Rather than waiting in long lines,
we can handle our financial transactions online, any time of the day or night.
Online transactions take as long as ATM transaction would thanks to the fast
speed of the internet. The faster computer is, the faster transaction will be.
Also, online banking can be done
anywhere in the world that offers a computer with internet access. This means
if we are away from home we can still manage our bank accounts and view
information. In addition, we can sign up for alerts that tell when automatic
deposits or withdrawals are made, or when our accounts hit a certain balance.
These alerts can be sent via email, telephone or mobile phone. Today’s advanced
technology makes even makes it possible to connect to our account via mobile
phone with internet access. We can even pay our bills online without ever
having to write a single check or mail a single envelope.
Security is another important part
of online banking history. In the early days, it may have been easy for a
skilled hacker to get into bank accounts, but no more. Today’s banks have
extremely sophisticated security systems that no one can crack. They use 128
bit encryption and a variety of other security methods to keep information
safe. Online banking has certainly come
a long way in the past ten years. With so many features and benefits, it’s no
wonder so many people these days are turning to online banking as a way to
managing their finances.
If we are like most people, we’ve
heard a lot about online banking but probably haven’t tried it ourselves. We
still pay our bills by mail and deposits checks at our bank branch, much the
way parents did. We might shop online for a loan, life insurance or a home
mortgage, but when it comes time to commit, we feel more comfortable working
with banker or an agent we know and trust.
Online banking isn’t out to change
money habits, instead, it uses today’s computer technology to give the option
of bypassing the time consuming, paper-based aspects of traditional banking in
order to manage finances more quickly and efficiently.
Online banking is a highly
profitable channel for financial institutions. It provides customers
convenience and flexibility and can be provided at a lower cost than traditional
branch banking. Online banking has grown and flourished over the years, but is
now facing major challenges due to the risk of phishing, data compromises and
other attacks. The rises of this attacks have caused a decline in the use of
online banking and has negatively affected consumer confidence in the ability
of a financial institution to protect them. Consumers are questioning the
safety of their money and information and are looking to banks to fix the
problem. The problem has grown to the extent that consumers and the government
are demanding a solution. Financial institutions must take necessary steps to
protect the online accounts of their customer, the need for enhanced
authentication has become evident.
3.4.
Online Banking Background:
The unique service Online banking provided by banks
is not today’s contribution. It hase along history of evolution and has been updated
day by day with new and improved features to serve with greater facilities to
the clients. The precursors for the modern home online banking services were
the distance banking services over electronic media from the early 1980s. The
term online become popular in the late 80s and referred to the use of a
terminal keyboard and TV (or monitor) to access the banking system using a
phone line. Home banking can also refer to the use of numeric keypad to send
tones down a phone line with instructions to the bank. Online services started
in New York in 1981 when four of the city’s major banks (City bank, Chase
Manhattan, Chemical and Manufacturers Hanover) offered home banking services
[1. Hassan, M.K. (2010)].
Because of the commercial failure of videotext these
banking services never become popular except in France where the use of
videotext was subsidized by the telecom provider and the UK, where the Pestle
system was used. The UK’s first home online banking services [2. Hassan,
M.K.(2008)] was set up by Bank of Scotland for customers of the Nottingham
Building Society(NBS) IN 1983. The system used was based on the UK’s Pestle
system and used a computer such as the BBC Micro, or keyboard connected to the
telephone system and television set. The system (Known as “Home link”) allowed
on-line viewing of statements, bank transfers and bill payments. In order to
make bank transfers and bill payments, a written instruction giving details of
the intended recipients had to be sent to the NBS who set the details up on the
Home link system. Typical recipients were gas, electricity and telephone
companies and accounts with other banks. Details of payments to be made were
input the NBS system by the account holder via Pestle. A Cheque was then sent
by NBS to the payee and an advice giving details of the payment was sent to the
account holder. BACS was later used to transfer the payment directly. Stanford
Federal Credit Union was the first financial institution to offer online
internet banking services to of its members in October 1994.
Today, many banks use internet. Unlike their
predecessors, these internet only banks do not maintain brick and mortar bank
branches. Instead, they typically differentiate themselves by offering better
interest rates and online banking features.
3.5.
Main Features of Online Banking System
Online banking solutions have many features and
capabilities in common, but traditionally also have some that are application
specific. The common features fall broadly into several categories, they are as
follows:
1. Transactional
(e.g., performing a financial transaction such as an account to account
transfer, paying a bill, wire transfer…and applications...apply for a loan, new
account etc)
2. Electronic
bill presentment and payment-EBPP
3. Fund
transfer between a customer’s own checking and saving accounts, or to another
customer’s account
4. Investment
purchase and sale
5. Loan
applications and transactions, such as repayment of enrollments
6. Bank
statement
7. Non-transactional
(e.g., online statement, check links, co-browsing, chat )
8. Financial
institution administration
9. Support
of multiple users having varying levels of authority
10. Transactional
approval process
11. Wire
transfer
12. Personal
financial management support, such as importing data into personal accounting
software. Some Online banking platforms support account aggregation to allow
the customer to monitor all of their accounts in one place whether they are
with their main bank or with other institution.
3.6.
Present Scenario of Online Banking System in Bangladesh
Online banking at per international standard is yet
to develop in Bangladesh. At present, several private commercial banks (PCBs)
and foreign commercial banks (FCBs) offer limited services of tele-banking,
internet banking, and online banking facilities working within the branches of
individual bank in a closed network environment. As a part of stepping towards
e-banking, the FCBs have played the pioneering role with adoption of modern
technology in retail banking during the early 1990s whereas the state-owned
commercial banks (SCBs) and PCBs came forward with such services in a limited
scale during the late 1990s. Moreover, the banking industry as a whole, except
for the four specialized banks (SBs), rushed to offer technology based banking
services during the middle of the current decade. The existing form of
e-banking that satisfies customer demand in banking activities electronically
throughout the world are PC banking or PC home banking that include online
banking, internet banking, mobile banking, and tele-banking.
PC
banking or PC home banking:
PC banking refers to use of personal computer in
banking activities while under PC home banking customers use their personal
computers at home or locations outside bank branches to access accounts for
transactions by subscribing to and dialing into the banks' Internet proprietary
software system using password. PC banking or PC home banking may be
categorized into two types such as online banking and Internet banking.
E-
banking:
Transactions in E-banking are performed within
closed network for which the customer use specialized software provided by the
respective bank. International standard online banking facilities are expanding
in Bangladesh. At present, 56 scheduled banks offer any branch banking
facilities through their respective bank online network that provides
facilities like transaction through any branch under the respective bank online
network; payment against pay order or pay order encashment, demand draft
encashment, opening or redemption of FDR from any branch of the same bank;
remote fund transfer, cash withdrawal, cash deposit, account statement,
clearing and balance enquiry within branches of the same bank; and L/C opening,
loan repayment facility to and from any branch of respective bank under its own
online network. Inter-bank transactions or transaction between inter bank
branches are yet to expand.
Internet
banking:
Internet banking refers to the use of internet as a
remote delivery channel for banking services which permits the customer to
conduct transactions from any terminal with access to the internet. It is the
WWW through which banks can reach their customers directly with no
intermediaries. Internet banking in true sense is still absent in Bangladesh.
Only 7 out of 52 banks are providing some banking services via internet that
include account balance enquiry, fund transfer among accounts of the same
customer, opening or modifying term deposit account, cheque book or pay order
request, exchange rate or interest rate enquiry, bills payment, account
summary, account details, account activity, standing instructions, loan
repayment, loan information, statement request, cheque status enquiry, stop
payment cheque, refill prepaid card, password change, L/C application, bank
guarantee application, lost card (debit/credit) reporting, pay credit card
dues, view credit card statement, or check balance. The core banking activities
like fund transfer to third party, cross border transactions and so on are
still uncovered by internet banking offered by the scheduled banks in
Bangladesh.
Mobile banking (also known as M-banking or SMS
banking) is a term used for performing balance checks, account transactions,
payments etc. via a mobile device such as a mobile phone. Mobile banking is
most often performed via SMS or the Mobile Internet but can also use special
programs called clients downloaded to the mobile device. The standard package
of activities that mobile banking covers are: mini-statements and checking of
account history; alerts on account activity or passing of set thresholds;
monitoring of term deposits; access to loan statements; access to card
statements; mutual funds/equity statements; insurance policy management;
pension plan management; status on cheque, stop payment on cheque; ordering
check books; balance checking in the account; recent transactions; due date of
payment (functionality for stop, change and deleting of payments); PIN
provision, change of PIN and reminder over the internet; blocking of
(lost/stolen) cards; domestic and international fund transfers; micro-payment
handling; mobile recharging; commercial payment processing; bill payment
processing; peer to peer payments; withdrawal at banking agent;3 and deposit at
banking agent. Despite huge prospects, only a few banks adopted mobile banking
in Bangladesh during the last year.
Tele
banking:
Tele banking refers to the services provided through
phone that requires the customers to dial a particular telephone number to have
access to an account which provides several options of services. Despite huge
potential, Tele banking services have not been widened enough in daily banking
activities in Bangladesh. Only four banks so far provide a few options of Tele-banking
services such as detail account information, balance inquiry, information about
products or services, ATM card activation, cheque book related service, bills
payment, credit card service and so on. Funds transfer between current, savings
and credit card account, stock exchange transactions etc are still inaccessible
through Tele-banking in Bangladesh.
Prospects
of e-Banking
E-banking is now a global phenomenon. Apart from the
developed countries, the developing countries are experiencing strong growth in
e-banking. The Bank of Thailand has created an industry payment body to involve
other stakeholders, in particular from commercial banks which take leading
responsibility for the development of e-payment system and technologies.
Internet banking in Korea has increased at a rapid pace. Korea is also leading
in online brokerage and mobile banking. In Southeast Asia, internet banking is
also developing rapidly in Thailand, Malaysia, and Singapore and to a lesser
extent in Philippines (Mia et. al. 2007). In Nepal, ATMs are the most popular
electronic delivery channel for banking services but only a few customers are
using internet banking facilities. Among others, Nepal's commercial banks have
adopted Credit card, Tele-banking, and SMS-banking.
Remittance
(Electronic Way)
Today’s fast changing electronic banking channels
have massively improved the flow of remittance across the world. In Bangladesh,
Banks have grown up relations with many international financial agencies, or
intermediaries to master the inflow of remittance into the country from the
expatriates working in foreign countries. A few such operators working in
Bangladesh are: Western Union Money Transfer, Money Gram, and XPress Money.
Call
Center
Call center is a streamlined customer interface and
offers a range of banking services through its call center agents. Customers
are now getting improved services at a reduced cost in an exciting manner.
Available services at call center are:
Account
related services:
Balance inquiry, transaction inquiry, duplicate
statement, cheque book request, ATM/Debit card hot listing, and loan
outstanding etc.
Product
Information:
Deposit accounts, Personal loan, Savings and current
accounts, Debit card, Rates and tariff Inquiry, exchange rates, lending rates,
deposit rates, tariff etc.
Other
Services: Complaints handling, account opening procedure,
Bank Information, change request etc.
From the following figure, we can observe different
phases of the banking services---
Traditional Banking
|
Modern Banking
|
Electronic Banking
|
3.7.
Benefits of Online Banking System:
In this age of information technology, electronic
communication is the cornerstone of a country for its business, every
government agency and economy. Modern banks play a pivotal role in promoting
economic advancement of a country. Online banking is a modern banking system
that delivers the new and traditional banking products and services to the
customers electronically. Electronic banking systems allow business parties or
individual to pay directly or to debit accounts via telecommunication systems.
It provides users, working with a home computer attached by network to their
bank, with the ability to authorize payments, reconcile accounts, and access a
variety of other banking services with the help of ATM (Automated Teller
machine), visa card, master card, Q-cash, E-cash, Ready cash, mobile, internet
etc. This paper represents the scenario of online banking in Bangladesh how it
is up surging, makes our country with more state of the art facilities and also
highlights some drawbacks and recommendations of overcoming the drawbacks of
online banking.
In Bangladesh, the expansion of online banking is
beset with several infrastructural, institutional, and regulatory constraints
such as inadequate availability of reliable and secure telecommunication
infrastructure, absence of a backbone network connecting the whole country,
poor ICT penetration in the banking sector, lack of skilled manpower and
training facilities, absence of supportive policies, guidelines, rules and
regulations relating to e-transactions and the like. Despite the constraints,
efforts by the Bangladesh Bank in modernizing the country's payment system and
commitment by the government in building ‘Digital Bangladesh’ have brought
competition among the scheduled banks to improve banking services and rapidly
adopt e-banking on a wider scale. This note provides a critical overview on
development of e-banking in Bangladesh and future prospects for better
understanding the issue that includes concept of e-banking, present status of
scheduled banks in adopting e-banking services, and prospects of e-banking in
Bangladesh on the basis of current trend in developing the ICT infrastructure
in the country as well as ICT penetration in the banking sector that follows
some policy suggestions for BB, Govt. of Bangladesh and scheduled banks so that
optimum benefit through online-banking may be obtained.
3.8.
Security of Online Banking System:
We’ll have a user name and password to access our
online account. Just as with any information used to access any other financial
account, we should keep access codes secret. Our bank will tell what to look
for—usually an icon of a locked padlock—to ensure we’re accessing our account
over
a secure line.
We should also beware of a scam called phishing where
crooks send out e-mails that might look exactly like e-mails from our bank.
These e-mails often claim that some account or personal information is needed.
We’re asked to click the link and fill the information. As a hard and fast
rule, never click on a link in an e-mail and the divulge account information.
Whether we bank online or prefer the old fashioned way, we receive a statement
every month that details transactions and account status.
3.9.
Advantages of Online Banking:
Online banking is a term used to describe the process
whereby a client executes banking transactions via electronic means. This kind
of banking eradicates the necessity of physical movement to financial
positions. This type of banking uses the internet as the chief medium of
delivery by which banking activities are executed and provides greatest benefit
to us.
Advantages of Online banking are:
1. Convenience – Banks that offer online banking
are open for business transactions anywhere a client might be as long as there
is internet connection. Apart from periods of website maintenance, services are
available 24 hours a day and 365 days round the year. In a scenario where
internet connection is unavailable, customer services are provided round the
clock via telephon2. At the touch of a button, actual time account balances and information are availed. This hastens the banking processes hence increasing their efficiency and effectiveness.
3. Online banking allows for easier updating and maintaining of direct accounts. The time for changing mailing address is greatly reduced, ordering of additional checks is availed and provision of actual time interest rates.
4. Friendlier rates – Lack of substantial support and overhead costs results to direct banks offering higher interest rates on savings and charge lower rates on mortgages and loans.
5. Some banks offer high yield certificate of deposits and don’t penalize withdrawals on certificate of deposits, opening of accounts without minimum deposits and no minimum balance.
6. Transfer services – Online banking allows automatic funding of accounts from long established bank accounts via electronic funds transfers.
7. Ease of monitoring – A client can monitor his/her spending via a virtual wallet through certain banks and applications and enable payments.
8. Ease of transaction – the speed of transaction is faster relative to use of ATM’s or customary banking.
3.10.
Disadvantages of Online Banking:
Online banking has a greatest
advantage for its users but it has also some bad sides that can affect online
users.
Disadvantages
of Online banking are:
- Banking relationship – Customary banking allows creation of a personal touch between a bank and its clients. A personal touch with a bank manager for example can enable the manager to change terms in your account since he/she has some discretion in case of any personal circumstantial change. It can include reversal of an undeserved service charge.
- Security matters – Direct banks are governed by laws and regulations similar to those of customary banks. Accounts are protected by Central Deposit Insurance Corporation.
- Complex encryption software is used to protect account information. However, there are no perfect systems. Accounts are prone to hacking attacks, phishing, malware and illegal activities.
- Learning – Banks with complicated sites can be cumbersome to navigate and may require one to read through tutorials to navigate them.
- Transaction problems – face to face meeting is better in handling complex transactions and problems. Customary banks may call for meetings and seek expert advice to solve issues.
Chapter-04
Online services provided by National Bank to its customer
4.1. List of Online services:
Following are the online services
provided by National Bank to their customers:
1. ATM Card
2. Debit Card 3. Credit Card
4. Internet Banking
5. SMS Banking
6. Tele Banking
7. Call Center
8. International trade and credit card
4.2.
NBL ATM Card
Among the electronic fund transfer services, ATM is
the most widely used and popular. With this automated computing machine,
clients can deposit or withdraw any
time of 24 hours a day. With the help of this machine fund can be transferred
from one account to another and loan can be repaid. This automated machine can
be established at the bank’s lobby, at the clients business avenues, apartment
complex, busy commercial areas, shopping centers, factories etc. through ATM
service, bank can render its retail services to the clients door. Thus clients
can save their time and the transactions seem to be easy to them. On the other
hand, banks earn their profit by providing services at lower cost.
The facilities available
at NBL ATMs include:
1.
Issuance of
ATM Card at the time of opening personal account
2.
Cash
withdrawal facility of anytime and anywhere 3. Cash withdrawal facility per day is BDT 500 to BDT 30,000
4. Cash withdrawal facility per transaction is BDT 500 to BDT 20,000
5. Maximum five transactions in a day
6. Free balance inquiry with printing facility
7. Free mini statement printing which displays your last 10 transactions
8. No charge is applicable on NBL customers for transacting through NBL ATM booths
How
does a customer operate ATM?
Banks supply plastic cards to their
clients. Each card has its distinct number, client’s name, and signature of the
client with magnetic stripe. Each client has a PIN (Personal Identification
Number). During transaction, client put the card into the card input/ reader.
Then ATM instructs its client to input the PIN. PIN is to be input into the
machine within a specified time limit (Usually 30 to 90 seconds). If the client
fails to input in due time or the PIN is wrong, the machine will take the card
inside of it and the card cannot be retrieved at that time. Then clients have
to go physically to the bank and get their cards if the authority is satisfied
with the cause of failure.
If the PIN is correct, the machine
asks the client about the type of the service. If the clients want to withdraw
cash, then it asks the amount. The amount needs to be input with the numerical
keyboard. After typing the amount, client will press the “Enter key” and within
few seconds receive the cash, along with the card and transaction receipt and
the machine became prepared for the next transaction. Clients are required to
change their transaction types before the enter key. Because once the key is pressed, there is no
other alternative to change the transaction mode.
Components of ATM:
An ATM mainly consists of two parts like input
devices and output devices.
a)
Input devices: the components of input devices of an
ATM are as follows:
1.
Card
reader: The card reader captures the account information
stored on the magnetic stripe on the back of an ATM/debit or credit card. The
host processor uses this information to route the transaction to the
cardholder’s bank.
2.
Keypad:
The keypad lets the cardholder tell the bank what kind of transaction is
required (cash withdrawal, Balance inquiry etc.) and for what amount. Also, the
bank requires the cardholders Personal Identification Number (PIN) for
verification. Federal law requires that the PIN block be sent to the host
processor encrypted form.
b)
Output devices:
An ATM has following
four output components:
1.
Speaker:
The speaker provides the cardholder with auditory feedback when a key is
pressed.
2.
Display
Screen: The display screen prompts the cardholder through
each step of the transaction process. Leased line machines commonly use a
monochrome or color CRT (Cathode Ray Tube) display. Dial-up machines commonly
use a monochrome or color LCD.
3.
Receipt
printer: The receipt printer provides the cardholder with a
paper receipt of the transaction.
4.
Cash
dispenser: The heart of an ATM is the safe and cash-dispensing
mechanism. The entire bottom portion of most small ATMs is a safe that contains
the cash.
4.3. Debit Card
Debit card is one of the systems of
electronic fund transfer. It is called cash card or asset card. Usually, in
debit card, funds are directly debited to the clients deposit accounts. Debit
cards can be explained in the following ways-
Debit card is one of type of
special plastic card issued by the banks or financial institutions to the
depositors, which hold magnetic coded number. The transactions can be operated
as required on the basis of the recognition of the magnetic coded number by the
machine. The holder of the debit card can easily operate Automated Terminal
Based payment. Money can be withdrawn from deposit account and fund can be
easily transferred in electronic way with this card. NBL also provides this
service for its customer greater access.
4.4. Credit Card
Credit card is a popular process in retail
electronic banking. Generally, if the clients have creditworthiness or have
enough money in the deposit account, then the bank provides this plastic cash
to the clients. In spite of having debit balance in the deposit account, a
client can use this card. Generally, in a credit card, the loan account of a
client is debited to reimburse the transactions conducted through the credit
card. This card is used for payment of product or service or for withdrawing
cash from some specific instructions.
Features
of NBL Credit card:
NBL Credit Card is accepted in
many merchant outlet around the world. Our wide range of merchants include
hotels, restaurants, airlines, & travel agents, shopping malls and
departmental stores, hospitals & diagnostic centers, jewelers,
electronics & computer shops and many more.
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Benefits of NBL Credit card:
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CREDIT CARD FEES
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LATE
PAYMENT FEES:
|
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CARD
REPLACEMENT FEES:
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4.5. Power Card
NBL Power Card is the first debit card for which you
don’t have to maintain any account with our any branch.
Benefits of NBL Power Card:
1. It is a Pre-paid Card.
2. Annual / Renewal Fee Tk. 200/- only
3. May be issued and refilled from
RFCD/FC Account
4. Accepted at all VISA POS merchants
5.
Cash
withdrawal at all ATM booths bearing VISA and Q-cash logo (Except HSBC in
Bangladesh).
6.
Drawing
of Cash:
a)
Free
NBL ATMs - Free of charges
b)
From
ATMs under Q-cash network – Tk. 10.00 per transaction
c)
From
other ATMs - Tk. 100 per transaction
7.
Cash
Withdrawal Fee (aboard)-2.00% on the cash drawn amount or US$2.00, whichever
is higher.
8.
Only
1% loading fee against both International and Local Power Card at the time of
Refilling.
9. Yearly Tk.100 for enrollment of
SMS service.
|
4.6. POINT OF SALE (POS) Service
Under POS service, card
owner’s accounts became debit and seller’s accounts became credit for the
amount of the purchased goods or services.
Taka can be transferred
by two ways:
1.
Seller is required to make a sales draft
like credit card. Then this sales draft would debit the card owner’s account
and credit the seller’s account.
2.
Respective clients/financial
institution/sellers account’s are to be debited or credited by transferring
taka from online point of sale terminals.
Main components using
in POS from the viewpoint of activities conducting by NBL:
1.
Terminates of POS
2.
Concentrators terminals
3.
Switching centre
4.
Bank computer systems
POINT
OF SALE (POS) SERVICE
4.7. Check Truncation
Check truncation is a
process of service where, financial institutions do not return the rejected and
un-honored checks to clients. Financial institutions keep these checks with the
monthly statements and provide rejected checks along with monthly statements to
the clients.
Financial institutions keep
rejected checks till 90 days. If the client finds any inconsistency or
difference between the statement provided by the financial institutions and
his/her own record, and then he/she can adjust the accounts by communicating
with the institution within the “preservation period”.
4.8. Home Banking
Through
developed electronic fund transfer system, National Banks can offer its
financial services to the doors of customers. Banks at first launch telephone
bill payments (TBP) process so that clients can enjoy banking while staying at
home. TBP is a fund transfer service by which clients communicate with the
financial institutions by phone and authorize them to collect their (clients')
bills, because of which financial institutions debit their client's account and
transfer the funds to the client directed payee account.
4.9. RETAIL AUTOMATED
CLEARING HOUSE (ACH) Service
The Automated Clearing House,
another feature of NBL, is the electronic network which transfers and clears
funds between banking institutions on behalf of merchants and their customers.
ACH is integrated process of
service by which payments of different financial institutions are cleared and
exchanged in electronic way. ACH is a computer based integrated system and it
is the distribution place of paperless transactions. Electronic payments are
the substitutes of papers and are recorded in machine-readable from in magnetic
tape and one account is debited and another is credited. The participants of
ACH system are the members of Automated Clearing House Association. ACH
exchanges electronic transactions within a specific geographical area.
Each transaction takes
approximately 48 hours to clear, and we strongly suggest that merchants wait
five days from the initial transaction date before shipping any goods. This
leaves two days to debit the consumer's account, two days to deposit the funds
into the merchant's account, and one day for the bank to post the transaction.
What
is ACH?
Funds transfer system governed by
the Rules of the National Automated Clearing House Association, which provides
for the inter-bank clearing of electronic entries for participating financial
institutions.
4.10.
NBL SMS Banking:
With National Bank SMS Alerts Service, you can keep
track of your transactions 24/7. By subscribing to the service, you can receive
real-time SMS updates for transactions conducted on your Debit Card. It also
helps you keep track of all your POS, ATM, in-branch and supplementary Card
transactions as and when they are conducted. SMS alert for all bank
transactions helps prevent fraud.
4.11.
Internet Banking
Internet banking would free both bankers and
customers of the need for proprietary software to carry on with their online
banking transactions. Customer behavior is changing rapidly. Now the financial
service is characterized by individuality, independence of time and place and
flexibility.
These facts represent huge challenges for the
financial service providers. So the Internet is now considered to be a
‘strategic weapon’ for them to satisfy the ever-changing customers’ demand and
innovative business needs.
Advantages
of National Bank Internet banking:
1. Swift transaction
2.
Digital service
3.
More security rather than traditional banking
service
4.
Less time consuming for the transactions
5.
Twenty four hours service
6. Less risky to carry cash
4.12.
Tele-banking
Tele-banking service is provided by phone, also
available in NBL. To access an account it is required to dial a particular
telephone number and there are several options of services. Options included-
1. Checking account balance
2. Funds transfer between current, savings and
credit card accounts
3. Bill payments
4. Stock
exchange transaction
5. Receive
statement via fax
6. Loan
payment information
Chapter-5
Overall
impact of Online Banking system in Bangladesh
5.1.
Traditional banking Vs. Online banking:
Traditional banking and online banking are two ways
for getting the benefits from bank. Both have benefits and disadvantages.
Customer can use both or any of these facilities. Here we are showing the
differences between traditional banking and online banking:
Basic
introduction of online and traditional banking system:
v Traditional banking:
In traditional banking system, a customer can open
any bank account in banks, take the facility of saving his money by depositing money
in local bank. He can withdraw his money through check, counter payment and
through bank draft. He can meet the bank manager and ask his problem. He can
take the physical help for getting loan from bank.
v Online banking:
Online banking means internet banking or modern
banking or online bill. In this method, customer gets his bank account ID and
password and he can check his account transaction, pay his bills and print his
receipt through his home personal computer which is connected with internet.
Online banking is development of today banking system. In other words, online
banking is electronic banking facility which we can take through our regular
broadband internet connection.
Disadvantages
of online and traditional banking system:
(a)Traditional
banking:
i.
Robbery:
Opening our daily newspapers, we
will see the new bank robbery case. This is the main disadvantages of
traditional banking system. Two or more thieves come and take banks money is
general news. It is also difficult in online banking system.
ii.
Time
limitation:
Banks are opened from 9.00 am to
5.00 pm. Any transaction is not possible beyond the time limit which is
possible in online banking.
iii.
Waiting
in line:
Waiting in line is also another disadvantage of traditional
banking. It consumes our time which is valuable to us.
(b) Online banking:
Hacking, spyware program, computer virus breaking
online password are the weakness of online banking. Online big hackers are
using computer virus and after spreading it, they compromise computer. After
this, they know details of your computer and banking password and illegally
transfer of all money. Next day, bank account may be zero. Even one can stop
this crime by using strong password but one can’t remove it totally.
5.2. Impact of Online Banking System
on Customer in Bangladesh:
The main benefit from the bank customers’ point of
view was significant saving of time by the automation of banking services
processing and introduction of an easy maintenance tools for managing
customer’s money. The main benefits of e-banking are: Increased comfort and
timesaving-transactions made 24/7.
Despite huge demand from the business community as
well as the retail customers particularly the urban customers, electronic
banking (e-banking) in Bangladesh is still at a budding state due mainly to a
number of constraints such as unavailability of a backbone network connecting
the whole country; inadequacy of reliable and secure information infrastructure
especially telecommunication infrastructure; sluggish ICT penetration in
banking sector; insufficient legal and regulatory support for adopting e-banking
and so on.1 In Bangladesh, telephone connectivity is inadequate, cost of PCs
are still beyond purchasing capacity of most people, internet connection is
costly, IT literacy is yet to reach satisfactory level, banking sector lacks
skilled IT personnel, and huge investment requirement for establishing
technology based banking services are prime drawbacks. In this backdrop, with
high potential of e-banking, Bangladesh Bank as the regulator of banking and
financial sector, government of Bangladesh, and the scheduled banks together
need to come forward with necessary initiatives for successful introduction of
e-banking in Bangladesh. The concept of e-banking includes all types of banking
activities performed through electronic networks. It is the most recent delivery
channel of banking services which is used for both business-to-business (B2B)
and business-to-customer (B2C) transactions.
5.3. Impact of Online Banking System in Bank Industry
Internet technology holds the potential to
fundamentally change banks and the banking industry. The vast majority of banks
have set very high standards of excellence for themselves in terms of
technology, state-of-the-art facilities, customers service and customer
orientation with all facets of operations totally computerized. The banks also
make extensive use of communication technology to provide off-site banking
facilities including ATMs.
The major reasons behind adopting or
developing new information systems are:
- Rapid geographical expansion has forced banks to replace their off-line systems by an on-line system linking the branches to the head office through the telecommunications network.
- Restructuring bank's processes in order to reduce staff expenses which constitute a large part of the operating costs and a heavy burden on its operating profitability.
- Incompatibility of the old systems with the strategic necessity of integrating new technologies like ATMs, Tele-banking etc. in order to provide the high quality services to the customers and competing on an equal foot with the foreign banks.
The widespread availability of
internet banking is expected to affect the mixtures of financial service
produced by banks, the manner in which banks produce these services and the
resulting financial performances of these banks. In addition, industry analysis
outlining the potential impact of internet banking on cost savings, revenue
growth and risk profile of the banks have also generated considerable interest
speculation about the impact of the internet on the banking industry. Banking
through internet has emerged as a strategic resource for achieving higher
efficiency, control of operation and reduction of cost by replacing paper based
and labor intensive methods with automated processes thus leading to higher
productivity and profitability. Nonetheless, recent empirical studies indicate
that internet banking is not having an independent effect on banking
profitability, although these findings may change as the use of internet become
more widespread. Banks boost technology investment spending strongly to address
revenue cost and competitive concerns for some activities banks hope to see a
near term impact on profitability.
v
Uses of online banking last 5 years in
Bangladesh:
Products
|
2010
|
2011
|
2012
|
2013
|
2014
|
Online
corporate banking
|
7%
|
12%
|
16%
|
36%
|
42%
|
Fund
transfer
|
10%
|
12%
|
18%
|
26%
|
38%
|
Credit
card
|
16%
|
22%
|
28%
|
44%
|
54%
|
Debit
card
|
11%
|
16%
|
22%
|
28%
|
33%
|
Merchant
account service
|
24%
|
33%
|
41%
|
46%
|
62%
|
Internet
banking
|
16%
|
26%
|
31%
|
36%
|
41%
|
Chapter-6
SWOT
analysis of Online Banking System
6.1. SWOT analysis
SWOT analysis is an important tool for evaluating
the performance of an organization. To find out the rationality of a product we
must perform a SWOT analysis of this product and services. This wills analysis
the strength, weakness, opportunity and threats of the particular services or
product. To analysis the performance of online banking of NBL we the following
analysis is considered.
Strength
1. Actually online banking service of National
Bank is not so aborigine. They are now just providing services of bank
transfer, balance check, make payment and especially fund disbursement is not
possible now here. These are the simple functions they are now performing. Also
they are not using http server to secure this service and they haven’t yet
provide customer training for getting the services clearly and easily.
2. It is cheap both for the banks and customers.
The bank will be able to lower down the overhead costs and make more profit out
of it though we know they are now already getting huge profit from this and we
hope if they can minimize cost there mark up will arise. Again the customers
will be also able to meet their needs with a short time. Internet banking is
convenient as the services are available all the time at just a click away.
Weakness
1.
Security breakdown: The system will have a problem with the
identifications of the individual who is actually initiating the transactions
though from bank there have given an account and password. Actually in Bangladesh the identification of an
individual is not yet supported digitally but recently NBL have taking
initiatives to ensure it. So there have a problem in moving to the internet era
for banking purpose just now. First NBL have to develop a digital database to
ensure the service with maintaining security.
2.
No
direct customer-seller interaction. 3. Sometimes, customers prefer transaction by reaching personally to the bank.
4. No of potential customers who can use internet is still not enough.
5. The transactions can’t be cancelled via internet. So there have a problem in executing the services with full functionality.
Opportunities
1. NBL offering non branch banking facilities.
Now a person can withdraw or deposit money in any branch of the bank that he
has accounted with. So moving uses of online banking are becoming very common
to all. I also think service offer from bank through the internet will also be
widely accept in a neat future.
2. The internet services are becoming very common
to us. So a service offered through the internet will be widely accepted in the
near future.
3. Internet users rapidly increasing.
4. More are feeling comfortable using internet
exclusively.
Threats
1.
People have
concern about their security and privacy. Most of them like to fall their money with their hand. They actually don’t
believe in virtual money transfer.
2.
In the field
of IT technology is coming everyday. The one which is very popular today might
have obsolete tomorrow. So to have a competitive edge over the competitive
banks must always update and easy as well as secure their services.
3.
The movement
towards online services of DBBL, its scope is largely underutilized. The
reasons include high service charge, lack of awareness, poor technology system,
government policy, low buying power of potential clients and lack of business
spend.
4.
Dishonest
online businesses damage consumer confidence and faith in the entire enterprise
of online banking.
¦
Chapter-7
Findings,
Recommendations and Conclusion
7.1. Findings:
E-business has created tremendous opportunity
all over the globe. Online banking can act as a complementary factor of
e-business. Bangladesh Bank has recently argued to introduce automated clearing
house system. This pushed upward transition from the manual banking system to
the on line banking system. The study has been undertaken to observe present
status of the e-business and as its complementary factor on line banking system
in Bangladesh. The article analyzes the data that were collected from
Bangladeshi banks up to February 2010 and also used snowball sampling
techniques to gather answer from the five hundred respondents’ who have already
been using on line banking system on the basis of a questionnaire which was
prepared for this study purpose. The study found that dealing officials of the
banks are not well conversant about their desk work. Authors’ observed that the
country can be benefited through successful utilization of e-business as this
will help to enhance productivity, monetary gain of both producer and customer
may be feasible and positive impact on raising gross domestic product. E
–business especially with the help of online banking can manage economy of
Bangladesh in a better way as customer will be satisfied.
Numerous findings have been identified online
banking system in Bangladesh. Some of them are in the followings:
1. Inadequacy and inadequate knowledge of the
bank management about the online banking
2. Lack of proper strategic plan to gain and
retain market share of the indigenous banks
3. Lack of international standard communication
channel.
4. High cost of establishing online banking
system.
5. Inefficient clearing house facilities
7.2. Recommendations:
To improve the e-banking services of NBL, I have the
following suggestions for the bank-
1.
NBL should provide adequate training and
technological support to develop the manpower or personnel working in the
e-banking section.
2.
NBL should have a strong strategic plan
for automated market development.
3.
The bank should develop integrated
e-banking software within a short period of time. Because I think excess load
will be the cause of a big damage for the existing software.
4.
A specialized, self-owned organization
can be established by the bank so that they can develop the infrastructure of
e-banking in Bangladesh that will also be the social responsibility for them.
5.
A standard carrier design needs to be
formed for the computer experts within the bank so that they do not feel
interest to go abroad for lucrative financial offer.
6.
Clearinghouse operations are demanded to
be fully automated. If it could be implemented, then banks will be motivated to
implement in front services counter of electronic bank.
7.
To meet the demand of current and
prospective clients, banking software to be produced in such that the coordinated
effort can supply all information from the front desk. The bank requires
systemic and planned budget for expanding e-banking.
8.
To provide the nationwide &
countrywide services, the bank should expand the number of branches of ATM
booth at zonal level so that the most of the people of the country can get the
benefit, which live in zonal level, rural level.
9.
To take initiative for implementing
automated financial sector by coordinate effort of the central bank along with
the commercial bank. Credit card services should be implemented rapidly. And
the restriction for getting the credit card should reduce.
10.
Sometimes I found that the top level
officers were so much lazy to do their work, this is a great problem for the
officers because without his authorization any transaction will not be
completed. If they take much time then the total procedure will be delayed,
because the online system is a one channel and step by step procedure. So the
lop level managers should have very much conscious about their task.
11.
NBL should increase their branch so that
they can pick up most of the market share among the other online bank. I found
that the interior design is not so attractive that can attract the customers.
They should impose their attention about that.
12. NBL
have to build up their customer services desk and call center for the
betterment of their services.
7.3.
Conclusion
Online banking, the latest generation of electronic
banking transactions, opened up new window of opportunity to the existing banks
and financial institutions, is relatively a new concept for Bangladesh. It is
not long ago when people wait in queue for long time with token in hand and
collects money. But today the scenario is a little different at least in the
urban areas. With the blessing of modern banking facility, people can enjoy 24
hours banking facility without going to the bank physically even from client's
residence through Internet Banking or through ATM, POS terminals. At the same
we need to be very careful about the fraud. Although online banking fraud in
large scale is yet to be reported in Bangladesh we need to take all the
necessary measures to prevent it. This can be done through proper education on
information technology & sufficient software & hardware support. Proper
implementation of online banking will create a positive impact on economy. National
Bank Limited is the leader in the Electronic banking among the private banks of
Bangladesh. It has employed almost all types of modern day banking facilities
to provide convenience to its customers. All automated delivery channels are
providing round the clock service through the mentioned hardware and software.
Due to its contribution to the society as well as national economy, it has made
a clear distinction and has occupied a separate and respected position in the
banking sector of Bangladesh. Expanding its business arena and volume, it has
also accelerated its contribution to the underprivileged of the society. NBL
contributes 5% of its profit for helping the destitute to develop their standard
of living and earn a respectable way to keep up with their everyday activity.
Considering the issues discussed earlier we may conclude that the National Bank
Ltd. is not only a profit making organization, it is also a perfect
"Corporate Citizen" who always carry out its duties of corporate
social responsibilities. As banking
sector is service oriented, therefore, banks of Bangladesh must move towards
fully online banking. This will enable them to provide round the clock services
through all the service.
ACRONYMS
NBL-
National Bank Limited
SWOT-
Strength, Weakness, Opportunities, Threats
PC-
Personal Computer
IT-
Information Technology
VISA-
VISA International Service Association
HSBC-
Hong Kong and Shanghai Banking Corporation
AMEX-
American Stock Exchange
MICR-
Magnetic Ink Character Recognition
GDP-
Gross Domestic Product
ICT-
Information and Communication Technology
ATM-
Automatic Teller Machine
SIM-
Subscriber Identity Module
PIN-
Personal Identification Number
BACH-
Bangladesh Automated Clearing House
SMS-
Short Message Service
Reference:
1. Hassan,
M.K (2010) “Understanding the behavior aspects of online banking system in
banks” International Journal of Bank Marketing,Vol.17. pp. 290-314
2.
http://www.nblbd.com/power_card.php 3. http://www.nblbd.com/credit_card.php
4. http://www.nblbd.com/history_heritage.php
5. http://www.bdresearch.org/home/attachments/article/nArt/294.pdf
6. http://bankinfobd.com/blog/internet-banking-in-bangladesh
7. http://www.assignmentpoint.com/business/banking/an-internship-report-on-assessment-about-online-banking.html
8. http://unpan1.un.org/intradoc/groups/public/documents/apcity/unpan046046.pdf
9. www.google.com
10. Annual Report, 2014, National Bank Limited
11. Annual Report, 2013, National Bank Limited
12. Annual Report, 2012, National Bank Limited
13. Annual Report, 2011, National Bank Limited
14. https://www.academia.edu/9941629/ONLINE_BANKING_SYSTEM_IN_BANGLADESH pp.11-51
15. http://www.asaub.edu.bd/data/asaubreview/v5n2sl9.pdf
16. Journal of Internet Banking and Commerce. Vol. 14, No. 3, pp. 1-11.
17. Banking Industry Technology Secretariat . (http://www.bitsinfo.org/ppindustry).
18. www.bb.org.bd
19. http://www.icommercecentral.com/open-access/ebanking-of-economical-prospects-in-bangladesh-1-10.php?aid=38393
20. Roy, M. K., Hasan, Sk. K. & Bhuiyan, M. M. (2011). Online Banking in Bangladesh: An Empirical Analysis. ASA University Review 5(2): 112-128
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