Mobile Banking

Mobile Banking in Bangladesh (A comparative study between bkash & DBBL)
Chapter 1
INTRODUCTION
1.1 Introduction
Mobile banking refers to a client-server system that is specifically designed for

mobile devices, allowing banking customers to use handheld devices to
access their accounts, pay bills, authorize fund transfers, or perform other
activities. Like many other m-commerce services, mobile banking services
can be challenging and no single company has all the expertise required to
develop and deliver compelling services on its own. Mobile banking also
known as M-Banking, SMS Banking is a term used for performing balance
checks, account transactions, payments, credit applications and other
banking transactions through a mobile device such as a mobile phone or
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Personal Digital Assistant. The earliest mobile banking services were offered
over SMS. With the introduction of the first primitive smart phones with WAP
support enabling the use of the mobile web in 1999, the first European banks
started to offer mobile banking on this platform to their customers.
Mobile banking has until recently 2010 most often been performed via SMS or
the Mobile Web. Apple's initial success with iPhone and the rapid growth of
phones based on Google's Android operating system have led to increasing
use of special client programs, called apps, downloaded to the mobile device.
Over the last few years, the mobile and wireless market has been one of the
fastest growing markets in the world and it is still growing at a rapid pace.
According to the GSM Association, the number of mobile subscribers
exceeded 2 billion in September 2005, and now exceeds 2.5 billion of which
more than 2 billion are GSM. According to a study by financial consultancy
Client, 35% of online banking households will be using mobile banking by
2010, up from less than 1% today. Upwards of 70% of bank centre call volume
is projected to come from mobile phones. Mobile banking will eventually allow
users to make payments at the physical point of sale. "Mobile contact less
payments” will make up 10% of the contact less market by 2010. Another
study from 2010 by Berg Insight forecasts that the number of mobile banking
users in the US will grow from 12 million in 2009 to 86 million in 2015. The
same study also predicts that the European market will grow from 7 million
mobile banking users in 2009 to 115 million users in 2015.
1.2 Origin of the Study:

The Evening MBA program of University of Dhaka is designed to focus on
theoretical and professional development of people open to take up business
as a profession as well as service as a career. Internship report or project
report is one of the course of MBA program of University of Dhaka. In this
course student has to prepare a project under a course instructor on a certain
topic. This course provides the students to link up their theoretical knowledge
into practical fields. In this purpose, I was assigned to prepare a report on
“Mobile Banking in Bangladesh (A comparative study between bkash&
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DBBL)”. I have tried my level best to present my experience of the practical

orientation in this report.
1.3 Objectives of the study:
The primary objective of the study is:

To fulfil the requirement for EMBA internship or project report.
The secondary objectives of the study are:

1. To give an overview of Mobile banking industry in Bangladesh.
2. To get an insight of the products & services of bkash and DBBL mobile
banking.
3. To make comparison between bkash and DBBL mobile banking in

terms of agents, subscribers and some other key factors.
1.4 Scope of the study:

In Recent days mobile banking industry become very much comprehensive. It
deals with different areas to capture the market & it requires huge promotional
activities to survive. Beside this it takes huge effort to known this system with
general people. Moreover, they have to come up with different innovative
ideas to have a position in the market. Thus, the study covers a broad
spectrum such as service, product, competitions etc.
1.5 Methodology
The study requires a systematic procedure from selection of the topic to final
report preparation. To perform the study data sources are to be identified and
collected, they are to be classified, analysed, interpreted and presented in a
systematic manner and key points are to be found out. This overall process of
methodology is given in the following page in the form of flowchart that has
been followed in the study.
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Identifying Data Sources
Selection of the Topic
Collection of Data
Classification, Analysis, Comparisonand Presentation of Data
Findings of the Study
Final Report Preparation
Figure: Flow chart of methodology
1. Identifying data sources: Essential data sources both primary and

secondary are identified which are needed to complete and workout the
study. To meet up the need of report completion both data are used.
2. Selection of the topic: The topic selected for the study was chosen by me
and approved by Dr. Md. Helal Uddin Ahmed, Director, Department of
Management Information System, and University of Dhaka.
3. Collection of data:
Primary data were collected from:
• I have collected primary data from “Bkash head office” Secondary
data were collected from:
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• In case of collecting secondary data I have collected data from various

websites.
4. Classification, analysis, comparison and presentation of data: To
classify, analyse, compare and presentation of data I have used Microsoft
Excel tools for graphical presentation and I also indicate some key factor to
compare bkash and DBBL.
5. Findings of the study: After scrutinizing the data, findings of the study are
pointed out and they are shown to my instructor. Recommendations are
suggested thereafter to overcome the problems.
6. Final report preparation: On the basis of the suggestions of my
honourable course teacher some deductions and additions have been
made and final report is prepared thereafter.
1.6 Limitations
While I tried to make this report a flawless one, some conciliation had to be
made due to some limitations and obligations. As bkash and DBBL are not a
public limited company, they keep most of the information confidential and is
highly cautious about leakage of this information. It is because of the limitation
of information that some assumptions had to be made.
Moreover, a period of a year is not enough to understand the complete picture

of a company.
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Chapter 2
LITERATURE REVIEW
2.1 Literature Review

El-Sherbini et al. (2007)
Investigated the customer’s perspectives of mobile banking, their perceived

importance for it, usage patterns and problems rising on its utilization. The
paper discussed the strategic implications of the research findings. Empirical
data were gathered from bank customers in Kuwait to achieve the research
objectives. All bank customers in Kuwait were considered as population of
research interest. The results showed the perceived importance of internet
banking services by customers, current and potential use of MB services in
Kuwait and problems perceived by bank customers in using MB. The
researchers' main hypothesis tested that top five services considered relative
important in Kuwait banks were "Review account balance", "Obtain detailed
transactions histories, "Open accounts", Pay bills" and Transfer funds
between own accounts".
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Rotchanakitumanuai and Speece (2003)

Investigated why corporate customers do not accept mobile banking, which
can assist banks to implement this self-service technology more efficiently.
Many Thai banks are currently implementing mobile banking. Banks that offer
service via this channel claim that it reduces costs and makes them more
competitive. However, many corporate customers are not highly enthusiastic
about mobile banking. They used in-depth qualitative interviews methodology
for collecting their data. The interviews with Thai firms suggested that security
of the Internet is a major factor inhibiting wider adoption. Those already using
Internet banking seem to have more confidence that the system is reliable,
whereas non-users are much more service conscious, and do not trust
financial transactions made via Internet channels. Non-mobile banking users
tend to have more negative management attitudes toward adoption and are
more likely to claim lack of resources. Legal support is also a major barrier to
Internet banking adoption for corporate customers.
Ahmed Ali said...

I think I should clarify some of the suggestions Customer gave.
I agree that GP should have an option to link to bank accounts. But until now
they have refused to allow such a link. 8 Banks already have this technology
but GP has prevented them from serving GP customers. Banks have taken
the initiative but GP has stopped it just because they can and thinking that
their proposal will pass. GP clearly didn't have good intentions. Otherwise all
the foreign banks wouldn't group with local banks to oppose this outlandish
proposal. Again this is not only me that feel this way. The entire world acted
in opposition to GP's Mobile Banking Thesis. GP's Mobile Banking is not the
same as 'Mobile Banking'
Sathye. (1999)
Analysed the factors affecting the adoption of Mobile banking by Australian
consumers. His sample was from individual residents and business firms in
Australia. The study focused on the capital cities where use of mobile internet
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and population was likely to be high. White and yellow pages were used as
the frame of reference for personal and business customers, respectively. The
findings suggest that security concerns and lack of awareness about mobile
banking and its benefits stand out as being the obstacles to the adoption of
mobile banking in Australia. He also suggests some of the ways to address
these impediments. Further, he suggests that delivery of financial services
over the Internet should be a part of overall customer service and distribution
strategy.
2.2 Mobile Banking

The massive improvement of technologies around the world brings an
opportunity to improve the technological platform of banking sector. The goal
of the extending service of banks with improve technology is to satisfy the
desire of customers. One of the extending services with modern technological
advancement is Mobile Banking. In this process of banking customer are
allowed to access into the banking system in anytime from anywhere. The
requirements for this process are to have a mobile device and mobile network
connection. The core benefit of this mobile banking is to reach to the people
who do not have the access in internet banking or in normal banking
procedure. It is mostly helpful for the people of remote areas (GSMA Mobile
and Development Intelligence, 2012). Millions of people across the developing
nations are relying on informal economic activities for their living and most of
these people are from the bottom stage of the pyramid. These mass
populations do not have the access into the basic financial services or the
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regular banking system. This mobile banking brings the opportunity for these
people to get the banking facility. Now the reason why “mobile banking” is
getting greater emphasize because more there are than 4 billion mobile
subscribers who represent 61% population of world. So it is the best way to
reach among the biggest portion of world population. Also, mobile banking
needs less processing than general banking process. It helps the banks to
reduce cost, requires less storage facility. Mobile Banking is also better
process among all the other e-banking process. In internet banking there has
the higher risk then mobile banking due to hacking system. Also to use internet
banking people needs extra skills to use computer. On the other hand, to use
Mobile Bank customer needs to have the basic idea about how to operate
mobile in daily life. So to use this mobile banking a great level of awareness
is not needed to create. It is said that mobile banking is one of the best thing
ever happened in the personal finance management. Through this process
customers will keep them attached with the banking system all the time. This
mobile banking is still in growing business.
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2.3 World View of Mobile Banking

Financial revolution is happening in money transactional world and it is not
only happening only in the skyscrapers of rich countries but also in the slums
of developing countries. This revolution is happening through the branchless
banking system of mobile banking. Mobile Banking first introduced in 2001.
From 2001 to 2006 there were only 10 Mobile Banks were in world. In 2009 it
increased up to 25, in 2010 it increased up to 38 and in the middle of 2011
this number of mobile bank increased up to 50. Surprising by the end of 2011
this number reached up to 140 m-commerce organizations. The major
mcommerce boom has happened in African region following by Asian
countries (Michael U. Klein, 2011) In African Nations, different mobile
companies are coming with the m-commerce business. Orange mobile
company is running an m-commerce business with brand name of Orange
Money mobile banking. They are running this business in Mali, Senegal,
Madagascar, Kenya, Ivory Coast and Niger. Since 2008 they have signed up
1 million people. Though there are multiple mobile banks are working in
African nations but the real impact has been made by M-Pesa. M-Pesa is a
mobile bank which is a subsidiary of Vodafone. Only in Kenya, M-Pesa
register more than 13 million customer, while in Tanzania, M-Pesa has 6
Million customers and in 2010 in total 670 million transactions generated
through this mobile banking service. In Latin America potion Telefonica is
giving the service of mobile banking in four countries. Among those countries
in Brazil, mobile banking is establishing its place in good speed. It is believed
that after Africa, Latin America is the place where mobile bank will have
greater success. In Latin America only 35 percent people have bank account
while 90 percent people have mobile phones. In northern American side, in
USA almost 20% people are using mobile banking service in regular purpose.
In Asian side mobile banking is also on the way of success. In Pakistan, where
are only 14% regular banking subscribers in there already 500,000 customers
are already subscribed with mobile banking. This mobile banking is also
successful in South Korea, Japan, China and Malaysia. In Japan, there are
already more than 1.5 million active mobile banking users and it is increasing.
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2.4 Infrastructure for Mobile Banking

Mobile Banking service can be provided in two different processes. One of
these are Banks can directly give the mobile banking service towards the
customer. In this process banks are having their own network system. On the
other hand, in other process banks are using the 3rd party for giving this
mobile banking service. In this process banks are having only the database
system and the service providing duty is relying on the 3rd party. Now, based
on these services providing process, service can be delivered in two different
ways. These are application based (GPRS protocol) and the other one is SMS
based. In most of the countries especially in the developing countries, SMS
based mobile banking is using widely. It requires very low cost and low
bandwidth and also it is easy to understand.
2.5 Features of Mobile Banking Services (In

General):
Mobile banking can offer services such as the following:
1) Account Information:
• 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
2) Payment, Deposits, Withdrawals & Transfers:

• Domestic and international fund transfers
• Mobile recharging
• Commercial payment processing
• Bill payment processing
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Chapter 3
ORGANIZATION PROFILE
3.1 Mobile Banking in Bangladesh

Bangladesh is 8th largest populated country in the world with around 161
million populations. In Bangladesh, almost 31.5% populations are living under
poverty. From this huge population only 13% people have bank account. On
the other hand, there are almost 90 million mobile phone subscribers in
Bangladesh. From the point of view of Bangladesh, the expansion of ebanking
is opposed by the problem of institutional, infrastructure and regulatory
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problems. Bangladesh Bank is developing country’s payment system but by

that time all the banks are not able to improve their ICT system. From this plot,
the concept of mobile banking emerged to reach the banking facility to the
unbanked people. Mobile banking is a new banking concept in Bangladesh.
Bangladesh Bank is influencing banks to operate this mobile in a serious
manner to reach to the unbanked people of Bangladesh Still now, Bangladesh
Bank has given license to 23 banks to run this mobile banking operation.
Among these, 14 banks have full Mobile Financial Service permission and
other 9 banks have the permission for international remittance transaction only
through mobile. Mobile financing industry is very new in Bangladeshi market.
Now bkash is leading this market with around 71% of market share. Along
with bkash, DBBL mobile banking have the 24% of market share. Mainly
bkash& DBBL mobile banking cover the most of the market. Others company
such as Trust Bank, Mercantile Bank, Eastern Bank and others cover 5% of
total market share.
Trust bank, 0.25% Mercantile Bank, Others , 4.50%

0.25%
Islami Bank, 5%
DBBL , 20%
bkash, 70%
DBBL bkash Islami Bank Trust bank Mercantile Bank Others
Figure: Market share of mobile banking industry in Bangladesh
Mobile Banking is a process of no branch banking which provides financial

services to unbanked communities in both urban and rural area at affordable
cost. The aim of the service is not to destroy branch banking but to bring those
people under the umbrella of banking service that are away from banking
facilities. Government thinks it has a great prospect as it is a new technology
in digital Bangladesh. Through M banking one can avail various services i.e.;
utility bill payment, Fund Transfer, Shopping, Cash Withdrawn from selected
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ATM or Cash point and many more exciting facilities. But in Bangladesh many
people think traditionally, because they cannot think it has any facility to use
of mobile banking.
List of banks and their products mentioned below
SL# Bank Name Product Name
1. Duch-Bangla Bank Limited. Mobile-Banking
2. BRAC Bank Limited. bkash
3. Prime Bank Limited. EasyCash
4. Islami Bank Bangladesh Limited. mCash
5. Trust Bank Mobile Money
6. National Credit and Commerce Bank Limited SureCash
7. Bank Asia Limited. Mobile Banking
8. Dhaka Bank SMS Banking
9. Mercantile Bank Mobile Banking
10. AB Bank SMS Banking
11. South East Bank SMS Banking
12. First Security Islami Bank SureCash
As bkash and DBBL has the 95% market share of the total mobile banking
market so that I try to describe and compare between these two institutions
mobile banking services.
3.2 bkash Background

bkash Limited is a subsidiary of BRAC Bank. It is a joint venture organization
between Money in Motion, LLC, USA and Brac Bank Limited Bangladesh. Its
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mission is to provide affordable, convenient and reliable financial service

towards the customers. It has the full Mobile Financial Service permission.
bkash’s mobile network partners are Robi, Grammen Phone, Banglalink and
airtel. It is the only the mobile financial service provider which has one service
menu for all the operators. It has in total 30,000 agents all over the country.
Still now it has the highest numbers of agents in Bangladesh. bkash Limited
is giving the service of cash in, cash out, send money (P2P) and payment
(payment through organization or in shop). It is offering free registration and
also free balance, statement check and changing PIN offer. Rather than the
authorized agents it is also available in all Robi WICs, BRAC channel and
Continental Courier channel. It’s highest amount of daily transaction limit is
1,25,000 Taka and highest amount of monthly transaction limit is 2,50,000
Taka. Also its monthly highest P2P transaction limit is 25,000 taka (Bank, July
2012). Still now, bkash is the most visible mobile bank in Bangladesh. It is
running heavy advertising from the beginning. It is running its marketing
through TV advertisement, Radio advertisement, billboard, Poster, festoon,
leaflet, shop pointer etc. bkash has agents in all districts of Bangladesh and
its aspiration is to be a large scale provider of MFS reaching tens of millions
of Bangladeshis in a few years’ time. BRAC Bank/bkash are cautious that the
service would not be profitable for another 4‐5 years .bkash also partners with
BRAC to identify and train new agents in addition to receiving agents from
Robi and also searching for agents directly. From bkash perspective, the main
challenge is to establish sound commercial agreements with MNOs. The other
challenge is to motivate agents and clients to begin to use the service more
actively. bkash believes building the business will take more time, scale and
awareness building.
3.2.1 Products and Services
bkash provides different types of services . They are:
• Cash- In
• Cash-Out
• Send Money
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• Buy Airtime
• International Remittance
• Interest on saving
01. Cash- In
This is a process of deposit money to bkash account. This service is provide
in the agent point. The total process is given bellow:
01. Go to any bkash Agent
02. Let the agent know the amount want to Cash In
03. Write down the bkash Account Number and the Cash In amount in
the Agent Register
04. Pay the amount of money want to Cash in
05. In exchange, the agent will send balance to bkash Account.
02. Cash-Out
If bkash users have sufficient balance in their bkash Account, users can
withdraw cash anytime. There is two way of withdraw money from bkash
account, one option is from agents and another is from BRAC Bank ATM
Booth.
03. Send Money

Send Money allows Customer to transfer money from one bkash Account to
another bkash Account. To send money the process is given bellow:
01. Go to any bkash Mobile Menu by dialing *247#
02. Choose “Send Money”
03. Enter the bkash Account Number who want to send money to
04. Enter the amount who wants to send
05. Enter a reference about the transaction.
06. Now enter the bkash Mobile Menu PIN to confirm the transaction
04. Buy Airtime:
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Buy Airtime allows Customer to recharge Mobile Airtime from customer bkash
Account. Customer can buy airtime for customer own mobile phone or for
someone else's mobile phone. Follow the steps below –
01. Go to bkash Mobile Menu by dialing *247#
02. Choose “Buy Airtime”
03. Choose the operator
04. Choose customer connection type
05. Enter the 11 digit mobile number Customer want to buy airtime
06. Enter the amount of airtime Customer want to buy
07. Enter bkash Mobile Menu PIN to confirm
05. International Remittance:
bkash brings the easiest and most convenient way of sending and receiving
International Remittance.
To send International Remittance from abroad to a bkash Account in
Bangladesh:
01. Go to a participating Exchange House branch
02. Let the Agent know that Customer want to send money to Bangladesh
through bkash
03. Fill out the bkash related fields correctly on the remittance request form
available at the Exchange House
04. The Exchange House Agent will help Customer complete rest of the
process
While sending remittance through bkash, please ensure that:
01. Recipient’s number is a bkash Account number and belongs to one of
the operators who is partnered with bkash (currently Robi,
Grameenphone, Banglalink or Airtel i.e. 018, 017, 019 or 016).
02. The destination bkash Account number is entered as the 11 digit
Bangladeshi mobile number starting with 018, 017, 019 or 016 e.g.
01XXXXXXXXX. The international dialling and country code should
not be included i.e. there is no “+88”.
03. Recipient’s bkash Account number is correct.
04. The number has been written clearly & accurately in the correct field
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05. The BDT Value of sent remittance does not exceed bkash standard
transaction limits.
06. Interest on saving:
Along with keeping money safe, customer can also enjoy up to 4% Interest
(per annum) on Savings on customer bkash account. Interest is offered to
bkash customer accounts only.
Balance/Slab Rate
BDT 1,000 – BDT 5,000.99 1.5%

BDT 5,001 – BDT 15,000.99 2%
BDT 15,001 – BDT 50,000.99 3%
BDT 50,001 and more 4%
Conditions for attaining interest:
• Customer Wallet Opening Form must be accepted at bkash and

customer Account status must be active
• Customer must do minimum 2 financial transactions (Cash In, Cash
Out, ATM Cash Out, Payment, Send Money or Buy Airtime) in a
calendar month
• Customer need to maintain a minimum day end balance of BDT 1,000
throughout a calendar month
• Customer will earn interest on Customer wallet balance based on the
slab of minimum day end balance of the month
• Interest will be calculated at the end of the month based on Customer
average day end balance of that month
• The interest amount will be credited after necessary government
TAX/VAT deduction to Customer bkash wallet
• The cumulative amount of Customer earned interest will be disbursed
in two terms in a year
3.2.4 bkash promotional activities:
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Over the last one year they do a huge branding activity that’s why they are
able to achieve this success. Some of their branding activities is given bellow.
Billboard: One of the best ways of communication is billboard now bkash

have 73 billboards all over the country. bkash is planning to have 200
billboards at the end of 2013. That will enhance their reach to more people.
The entire billboard has good visibility level and in prime location.
Agent point advertisement: bkash use some branding item in their agent
point which is increase their brand image. In agent point they have pointer,
festoon, and posters. This is more attractive than their competitors.
Car Sticker: The most effective outdoor branding is car sticker branding. They
have around 20000 car sticker in all over the country. Beside this they are
planning to have CNG and rickshaw branding. By this branding bkash reach
huge number of target people.
bKash Drama: To understand the rural people about the importance of bkash
in their life, for that bkash have bkash drama acted by the local actors. In
common places in rural area they perform this drama based on bkash. For
this drama purpose bkash use BRAC network to maintain all the drama.
Newspaper Ad: In different newspapers bkash places their promotional
activities everyday which is one of the easiest way to connect with customer.
TV Commercial: bkash have in total 8 TV Commercial including a 3D
advertisement. In those commercial they are providing massage about their
services.
Web sites: DBBL has done promotional activities in different web sites.
Because it is one of the important advertising strategy for attracting customer.
3.2.2 Subscribers of bkash bkash Limited started their operation in July

2011 as a subsidiary of BRAC Bank Ltd. Up to the year 2012, subscribers
increased slowly. However, after the mass branding process was completed,
their subscribers increased dramatically. In fact, they are now the fastest
growing company in the market. The total number of subscribers has reached
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3 million. Here the number of subscriber from March 2013 to March 2014 has
given:
NUMBER OF SUBSCRIBER 2013-2014

3500000
3000000
2500000
2000000
1500000
1000000
subscriber
500000
0
Month
Figure: Subscriber of bkash
3.2.3 Agents of bkash:
As like as subscriber the agents of bkash is growing day by day. From the
chart we can see that though at the initial stage of starting the number of agent
was growing slowly but up to last year it is growing dramatically.
NUMBER OF AGENTS 2013-2014

45000
40000
35000
30000
25000
20000
15000
10000 Agents
5000
0
Month
Figure: Agents of bkash
3.3 Dutch Bangla Bank Mobile Banking:

DBBL launched Bangladesh's first foray into mobile banking in July 2011. The
aim of this service was to enable financial inclusion. This service which was
planned since 2007 was done solely by the bank without any external aid,
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financing, or stakeholders. Mobile banking service allows universal banking

through a network of bank nominated agents and an account linked to the
user's cell phone number. The growth, even though remarkable has been
greatly held back by adherence to strict banking norms and practice. The
bank's version is that it will not risk financial integrity for the success achieved
by the less-stringent competing services. Dutch-Bangla Bank is Bangladesh's
most innovative and technologically advanced bank. Dutch Bangla Bank Ltd
stands to give the most innovative and affordable banking products to
Bangladesh. Amongst banks, Dutch Bangla Bank is the largest donor in to
social causes in Bangladesh. It stands as one of the largest private donors
involved in improving the country. Dutch Bangla Bank is proud to be
associated with helping Bangladesh as well as being a leader in the country's
banking sector.
3.3.1 Products and Services:

There are some products and services which provides Ducth Bangla Bank
through mobile banking such as-
1. Cash In 6. ATM Withdrawal
2. Cash Out 7. Mobile Top up
3. Merchant Payment 8. P2P Transfer
4. Utility payment 9. Account transfer
5. Foreign remittance
Cash In:
Customer can cash-in (deposit) at any DBBL Branch, DBBL nominated- own
agent, UISC, Banglalink, Citycell& Airtel retail points and Mobicash marked
outlets of Grameen Phone.
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Customer hands over cash to the Agent

• Agent initiates the transaction from his/her mobile.
• Agent issues a receipt to the customer
• System sends an SMS to the customer's mobile
• For security reason, customer needs to check the sending number of
SMS and the amount. SMS/IVR call will be sent from 16216 or
01190016216 or 096667
Cash Out:
Customer can cash-out (withdraw) at any DBBL Branch and ATM, DBBL
authorized- Own agent, UISC, Banglalink, Citycell& Airtel retail points and
Mobicash marked outlets of Grameen Phone .
• Customer asks the Agent for withdrawal of an amount from his/her

Mobile Account
• Agent initiates the transaction from his/her mobile
• DBBL system sends USSD Flash menu to the customer's mobile (or
IVR Call): "Welcome to Dutch Bangla Bank. Customer are going to
withdraw Tk.XXX from Customerr account. If Customer want to
continue enter Customerr 4 digit pin or if not cancel the call.
• Customer enters his/her PIN
• Agent hands over money to the customer
Merchant Payment:
When a Customer buy/shop something from Dutch Bangla Bank authorized

merchant they can pay the bill to the Merchant using their mobile banking
account.
Overall process of Merchant Pay is as follows...
• Merchant initiates the transaction from his/her mobile.
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• Merchant issues a receipt to the customer

For security reason, customer needs to check the sending number of
SMS and the amount. SMS/IVR call will be sent from 16216
Utility Payment:
Customer can pay bills of various organizations using this payment option. To
make a payment please follow the following instruction. To get this service
from Dutch Bangla Bank mobile Banking account Customer just need to dial
*322# from any operator except citycell. in case if Customer are using Citycell
mobile phones then just send an empty sms to 16216.
Foreign Remittance:
Remitter can send remittance from any nominated Exchange Houses of

Dutch-Bangla Bank and other Bangladeshi Banks located all over the world.
The remitted money will be transferred to the beneficiary's Mobile Account
within 24-72 hours (in case of DBBL Exchange House - 24 hours) and the
beneficiary will immediately receive an SMS about the deposit. To avail this
service, just provide the following information at the exchange houses:
• Amount
• Beneficiary's Name, Bank Name (Dutch-Bangla Bank ) and
• Mobile Account number
Salary Disbursement:
It is a process by which Corporate Office can disburse the salary of their

employees and Government can disburse different allowances like elderly
allowance, freedom fighter allowance etc. to the people within a few moment
in a hassle freeway.
• Corporate Office/Government will send the list of mobile account

numbers (including check digit) and monthly salary/allowance to DBBL
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• DBBL will credit all the individual accounts by debiting corporate

account centrally by a batch process system
• The employee/beneficiary will get an SMS regarding the transaction
• The employee/beneficiary will receive an sms confirmation
The employee/beneficiary can go to any agent or DBBL ATM or DBBL
Branch to withdraw money
ATM withdrawal (cash withdrawal):
Customer can cash-out (withdraw) at any Dutch Bangla Bank ATM. Overall
process of Cash-Out (Withdraw) from ATM is as follows:
• In normal condition if ATM is ready for financial transaction for

withdrawal cash then press Mobile Banking Button.
• After pressing Mobile Banking Button by ATM, the following screen will
be appeared then type 12 digits mobile account number and if it is
correct press Correct button otherwise press Incorrect button.
• After that customer will enter four digits PIN (Personal Identification
Number). Now customer has to enter amount and press correct
button. (If any wrong amount is given, customer may press incorrect
button for a fresh entry)
• Now customer will get an USSD Push/IVR call to input his/her account
PIN number. If the PIN is correct the amount will be successfully
transacted
Mobile Top-Up
Top Up option allows Dutch Bangla Bank mobile banking customers to

recharge their own mobile no or any other mobile no they want. To get this
service from Dutch Bangla Bank mobile Banking account subscriber just need
to dial *322# from any operator except citycell. In case if customer are using
Citycell mobile phones then just send an empty sms to 16216 and get a
Page | 24
screen. From the screen select the option 3 and then select your desired
service.
Page | 25
Person to Person Transfer
Send money option allows Dutch Bangla Bank mobile banking customer's to
transfer money from one account to another mobile banking account. To get
this from Dutch Bangla Bank mobile Banking account customer just need to
dial *322# from any operator except citycell. In case if you are using Citycell
mobile phones then just send an empty sms to 16216 and get a screen. From
the screen select the option 2 and then select your desired service.
Bank Account - Mobile Bank Account Transfer
Customer can transfer money from bank account to mobile bank account or
mobile bank account to bank account or to any DBBL Debit Card through
Dutch Bangla Bank mobile banking.
Overall process of transfer is as follows:
To get this from Dutch Bangla Bank mobile Banking account customer just
need to dial *322# from any operator except citycell. In case if customer are
using Citycell mobile phones then just send an empty sms to 16216. Once
you dial *322# or send a sms to 16216 you will get a screen. From the screen
select the option 4 and then select your desired service.
3.3.2 DBBL promotional activities:
Page | 26
Basically DBBL try to branding in a traditional way. They have not that much
variation of advertisement activities which bkash have. Some of their
advertising activities are given below:
Newspaper advertisement: DBBL advertise 20 types of paper add in

different newspaper.
TV advertisement: Basically DBBL capture rural people through their TV Add.

So most of the TVC of DBBL is based on rural people life related.
Billboard: DBBL have 500 billboards all over the country but those are not in
good visibility level.
Car sticker: One of the most effective outdoor branding is car sticker
branding. By this branding DBBL reach huge number of target people and
aware general people about the brand.
Wall paint: The main target market of DBBL is rural people and lower class
people. This wall paint is help DBBL to increase their brand image.
Web sites: DBBL has done promotional activities in different web sites.
Because it is one of the important advertising strategy for attracting customer.
3.3.3 Subscribers of DBBL Mobile Banking:
Page | 27
The number of subscriber of DBBL mobile banking is growing as like as bkash.

But the growth rate is less than from bkash. From 2013 to 2014 subscribers
are increasing gradually.
NUMBER OF SUBSCRIBER 20132014

1200000
1000000
800000
600000
400000
subscriber
200000
0
Month
Figure: Subscriber of DBBL
3.3.4 Agents of DBBL Mobile Banking:

As like as subscriber the agents of DBBL is growing day by day. From the
chart we can see that though at the initial stage of starting the number of agent
was growing slowly but up to last year it is growing dramatically.
NUMBER OF AGENTS 2013-2014

30000
25000
20000
15000
10000
Agents
5000
0
Month
Figure: Agents of DBBL
Page | 28
Chapter 4
Comparative analysis of bkash and DBBL
mobile Banking
4.1 Subscribers Growth Comparision

bkash Limited is at present leading the industry with around 3 million
subscribers out of a total market size of approximately 4.75 million subscribers
as of March 2014. DBBL mobile banking has 1 million subscribers in the
network and the second position in the industry.
Growth rate of subscribers from March, 2013 to March, 2014 are given below:
Page | 29
Figure: Subscriber (bkash vs DBBL)
The result of the analysis is interesting as it is a common perception bkash

has the highest subscriber growth rate. We can see that bkash is continuously
growing faster than DBBL and they reach 1 million subscribers whereas bkash
reach 4 million subscribers with in same time frame. The average subscriber
growth rate of bkash is 24.09% and average growth rate of DBBL is 17.36%
Here we can see growing rate of bkash is increasing faster than DBBL.
4.2 Agents Growth Comparison

The total number of agents is reflects the company’s condition in the market.
In Mobile financing industry agents is mandatory to provide the service. So all
company are try to motivate there agents by commotion. In the chart we can
see bkash agents growth rate is slightly down than the DBBL. But the total
number of bkash agents are 40000 where age DBBL have 25085 all over in
Bangladesh. The number of bkash agents is high because of they give the
agents TK 30 on registration but DBBL gave TK 10. So over the last year
bkash has more agents point in all over the country then DBBL.
Page | 30
Figure: Agents ( bkash vs DBBL)
The average agent growth rate of bkash is 18.54% and average growth rate
of DBBL is 20.09% Here we can see growing rate of DBBL is increasing faster
than bkash but the number of agent of bkash is very much higher than DBBL.
4.3 Promotional activities comparison

In mobile financing industry companies are not those much aware about the
branding because the entire mobile financing service provider is under any
BANK. Beside this it seems that bkash and DBBL mobile banking are far
aware about branding then others. In bellow we are analysis about their
branding in terms of some core branding characteristic.
Visibility
This is one of the core requirements for any branding, without proper visibility
level the branding is not profitable. If we talk about bkash branding it is more
visible then other brand. Such as bkash have 73 billboards all over the country
Page | 31
and those are in well visible label. Beside this DBBL have 500 boards in every
sub-District in Bangladesh, but those are not in good visibility level.
Uniqueness
One of the most important site of any product or service branding is its
uniqueness. If we see the branding of bkash and DBBL, both the company try
to be unique in their branding. Beside this if we compare this two then bkash
branding is more unique then DBBL. bKash have boat branding, Car Sticker
branding, Drama Branding, on the other site DBBL try to Branding in a
traditional way newspaper advertisement and TVC.
Target Audience
In this industry the main target audiences are rural and low income people in
our country. MFS try to provide banking service to the people who are usually
not interesting in banking. So that the company are branding there product to
the target market.If we see the all TVC of bkash and DBBL the made a
scenario of rural people. Beside this bkash is more advance then DBBL they
are targeting urban people also by providing payment service.
Emotional Connections: Emotion is main way to attract the target audience

by branding. Some TVC of bkash and DBBL is related to emotional activity
but bkash is doing some extra to hit the target market. In addition with TVC
bkash have some documentary on some successful people who are benefited
by the bkash services. Beside this in recent time bkash introduce a new event
which is related to the direct target market.
4.4 Comparison by some key factor

Factors Bkash DBBL
MNO Partners
1. Robi 1. CityCell
2. Grameenphone 2. Banglalink
3. Banglalink 3. Airtel
4. Airtel 4. Grameenphone
Page | 32
1. Customer fills up a KYC 1. Customer fills up a one

form, submits copy National leaf KYC form, submits any
ID/Passport/Driving photo ID copy & 1 photograph.
License/Citizenship Certificate. No
1 copy issued to the customer, copy issued to customer
1 copy for the agent and
another for bkash 2. Any operator
subscriber
2. Only Robi and GP can open account
subscriber can open an
account 3. Account is activated
Customer after 2 working days
Registration 3. Account is activated
right away 4. Registration is needed
for the recipient; sender does
4. An account holder can not necessarily need an
send to another account account. If anyone does not
holder, an account holder can have a DBBL mobile banking
send to a non-account holder, account, s/he cannot avail any
and a nonaccount holder can service.
also send to a non-account
holder. So, if anyone does not
have a bkash account, s/he
also can avail
few services
1. Customer signs the 1. Customer gets a money

agent receipt on each transaction
register after each transaction from agent outlet
Documentation
2. After each transaction
via Token, both customer and
agent get a receipt
1. Available at Robi WICs, 1. Available at CityCell,

RSPs, BRAC Channel, Banglalink, Airtel outlets 2. at
Distribution
Continental Courier Service DBBL branches all over the
Network country
Channel and other Authorized
Distributors’ Channels all over
Bangladesh.
Page | 33
Transactional Services- Transactional Services-

1. Cash In
1. Cash In 2. Cash Out
2. Cash Out 3. Foreign remittance
3. Send Money 4. Salary disbursement
4. Create Token 5.ATM withdrawal
5. Redeem Token
Services
6. Payment Non-Transactional Services-
1. Registration
Non-Transactional Services- 2. Balance
1. Registration 3. Statement
2. Check Balance 4. Change PIN
3. Request Statement
4. Change PIN
*247# *322#
1. Send Money 1. Not in use

Service Menu 2. Token 2. Send Money
3. Payment 3. Top Up
4. Cash Out 4. Balance
5. My bkash 5. Statement
1.Robi ,GP, Airtel and 1. Citycell, Banglalink,

Banglalink subscribers can GP and Airtel subscribers can
access the system access the system.
2. Registered users access 2. Subscribers from other

directly through USSD by operators can open account
dialing *247# but can’t access the System.
They can use (Check balance,
statement & PIN change) only
Accessibility by calling helpline
3.Citycell subscribers access

system by sending a blank
SMS, get an IVR prompt for
further action
4.Banglalink and Airtel

subscribers can access
through USSD
Page | 34
1. Registration= Free 1. Registration= Free

2. Cash In= Fee 2. Cash In= 1% or 5 taka
Service Charges 3. Cash Out= 2.6% on (whichever is higher)
average 3. Cash Out= 2% or 10 taka
4. P2P charge: 2 taka (whichever is higher)
5. Token creation= 5 taka 4. Check balance= 2.00 Tk
(flat rate)
6. Token encase= Same 5. Check statement= 1.00
as Cash out charge Tk
7. Token redeem 6. No charge applicable
from for Deposit/Withdraw from
Agent=Cash out DBBL
charge+5.00Tk Branches
8. Check balance= Free
9. Check statement= Free
Agent Agent
1. Registration= 30tk 1. Registration= 10tk
2. 60% of the service charge 2. Cash In= 50% of the
service charge
Master Agent/Distributor 3. Cash Out= 50% of the
1. 25% of the service charge service charge
Commission
MNO Partner MNO
1. 8.05% of the service charge 1. Cash In= 20% of the
service charge
2. Cash Out= 20% of the
service charge
1. Shop Pointer 1. Festoon

2. Leaflet 2. Authorized agent certificate
3. Billboard 3. Leaflet
4. Poster 4. TVC
5. Festoon
6. Car Sticker
Communications
7. Website
8. Social Networks
9. TVC
10. RDC
11. Newspaper Ad
Helpline 16247 16216
Page | 35
4.5 SWOT Analysis:

To understand the business environment of a particular firm, we need to
analyse both the general environment and the firm‘s industry and competitive
environment. One of the most basic techniques for analysing firm and industry
conditions is SWOT analysis. It is a widely used technique through which
managers create a quick overview of a company‘s strategic situation.
4.5.1 Strengths
bkash Limited: bkash has always been committed to providing quality

services. Its strengths include- it‘s the market leader, it has got skilled &
dedicated workforce, strong financial position wide range of product and
product innovation skills, highest reach in the country, building brand image
and reputation in the industry, strong company culture, customer care. DBBL:
The strength of DBBL lies in it’s in its controlling system. They have a mobile
banking office in every sub-district all over the country. They have a good
number of agent point and merchant account. There controlling system is
main strengths along with brand name.
4.5.2 Weaknesses
bkash: The weaknesses of bkash are understand people about the service,
facing challenges regarding branding. Sometimes system is down, conflict
management skills for solving regulatory problems, poor leadership
development from local talents for top level position, poor negotiation &
conflict management skills for solving regulatory problems.
Page | 36
DBBL: The weakness of DBBL is their numbers of agent’s .They also have
one of the lowest number of merchants account. There branding is very week,
they don’t have any billboard whereas bkash have 72 billboard in all over the
country. In agent point there pointer is less visible then bkash one.
4.5.3 Opportunities
bkash: Opportunities of bkash is huge in Bangladeshi market. Because the

total number of active mobile phone subscribers are 92,120,000 at the end of
May 2013 in Bangladesh. All of the mobile phone subscribers are the potential
target market for bkash. Beside this bkash is leading the market so they have
more opportunity then other.
DBBL: DBBL has 2nd place in this MFI and this industry has huge number of
potential clients untouched. If DBBL want they can increase their customer
very fast. Beside this they have huge opportunity for marketing. By this they
can promote their product very well.
4.5.4 Threats
bkash: One of the main challenges stems from the perception of technology
maintained by low income users. For example, many users specially low
income users mistakenly think that they require advanced skill to use the
technology. So it’s really hard to convince low income users about the invisible
money concept.
DBBL: The main threat for DBBL is the rapid growth of bkash. From previous
analysis bkash and DBBL started their journey from same time but now bkash
has71% and DBBL has 24% market share. If it is continue at this rate sooner
bkash capture almost all the market. Besides this mobile banking is a complex
system for uneducated people. But their main targeted people are
uneducated. So create awareness among the rural people about the mobile
banking is another big threats for DBBL.
Page | 37
Chapter 5
FINDINGS, RECOMMENDATIONS &
CONCLUSION
Page | 38
5.1 Findings:
The findings of the report are given below:
For Objective 1
1. Mobile banking is a new technology in Bangladesh which started from

31st March 2011 and only a few banks are now offering this service.
2. Dutch Bangla Bank Limited pioneered in mobile banking services in

Bangladesh.
3. The total market share of bkash is 70% which is very much high for
any industry so they are the market leader.
For Objective 2
1. DBBL provide more transactional products and services than bkash.
2. But bkash provide more attractive service to customer than DBBL such as
interest on savings.
3. In terms of service charge bkash services are mostly free of cost than
DBBL.
For Objective 3
1. Although bkash and DBBL started their journey in a same year but
bkash is now far ahead than DBBL in terms of subscribers and agents.
2. For agents DBBL have the higher growth rate than bkash but in terms
of number of subscribers bkash is far ahead.
3. bkash is far ahead than DBBL in terms of their branding or marketing

because its product promotional activities is much visible, unique and
emotionally connected with customer.
Page | 39
5.2 Recommendation:
While working with the report, there were certain things that came in front of
my eyes which I think bkash and DBBL should consider:
For DBBL:
1. DBBL need to promote their service and product by doing one to one
marketing for grabbing more subscriber.
2. DBBL has to focus on visible, unique and emotionally touched promotional

activities.
3. The service charges for different services have to decrease for DBBL.
4. DBBL need to provide more fees or commission for retaining agents.
For bkash:
1. bkash need to establish mobile banking office in every sub district

rather than agents as DBBL has done.
2. bkash need to introduce new services or products such as bill payment

service, salary disbursement e.t.c. So that they can build more strong position
in the market.
In recent time Islami Bank Bangladesh introduce mobile banking

service called M-Cash which growth is increasing rapidly. So bkash as well as
DBBL need to have close observation on M-Cash, because they became the
threat for bkash & DBBL.
Page | 40
5.3 Conclusion
It is my immense pleasure to conclude the project report as a part of my EMBA
program. I tried my best to provide as much as information I could. As the
industry is its early stage, companies tend to keep their information
confidential. I consider myself lucky to be able to collect data from these
companies.
The mobile financing industry is growing at excellent pace. While it took only
two year for bkash to reach 3 million, DBBL have 1 million within two year.
Beside this all the other companies have huge potential to increase their
market share, because the industry is in very early stage. There is huge
opportunity for the new company in this industry.
At the wrapping up it can be said the bkash limited still working hard to grab
the market although they are the market leader with 70% market share. But
the competition of this industry developed rapidly. But yet bkash is in a
comfortable place in this industry but mot in a secure place. To retain the
market leader position bkash is introduce new services. If they can continue
to cater to the needs of their customers like they are doing now, they have a
bright future ahead of them.
Page | 41
References
References
• Bangladesh Bank. (2013, 5 20). Retrieved 4 25, 2013, from

Bangladesh bank: www.bangladesh-bank.org
• Bank, B. (July 2012). Mobile Financial Services in

Bangladesh. Policy Paper, 15-16.
• bkash. (2013, 1 1). Company Profile. Retrieved 5 23, 2013,

from bkashhttp://www.bkash.com/about/company-profile
• GSMA Mobile and Development Intelligence. (2012, 9 22).

GSMA Mobile and Development Intelligence.
https://mobiledevelopmentintelligence.com/
Page | 42
• Wadud, M. A. (2013, 3 25). Market condition of bkash over

the year.
• BRAC Bank mobile bank news.
• http://www.dutchbanglabank.com/mobile-banking/home.html
• http://www.dutchbanglabank.com/electronic_banking/mobile
_banking.html
• http://www.thedailystar.net/newDesign/newsdetails.php?nid=1
95176
• And many other PDF report on Mobile Banking collect from

internet
Appendix
bkash subscriber and Agents data
Subscriber Agents
Page | 43
Month subscriber Month Agents

Mar-13 237423 Mar-13 5383
Apr-13 350200 Apr-13 7560
May-13 440560 May-13 8563
Jun-13 546500 Jun-13 10540
Jul-13 789600 Jul-13 13600
Aug-13 880560 Aug-13 15900
Sep-13 1046500 Sep-13 17100
Oct-13 1336200 Oct-13 21500
Nov-13 1664500 Nov-13 24300
Dec-13 1885400 Dec-13 28000
Jan-14 2360250 Jan-14 32465
Feb-14 2780500 Feb-14 37863
Mar-14 3000000 Mar-14 40000
DBBL subscriber and Agents data
Subscriber Agents
Month subscriber Month Agents
Mar-13 172020 Mar-13 3181
Apr-13 220600 Apr-13 3985
May-13 300590 May-13 4500
Jun-13 353000 Jun-13 5400
Jul-13 420580 Jul-13 6200
Aug-13 489000 Aug-13 7930
Sep-13 555400 Sep-13 9700
Oct-13 610253 Oct-13 11200
Nov-13 700236 Nov-13 13650
Dec-13 782400 Dec-13 16870
Jan-14 856200 Jan-14 18900
Feb-14 966400 Feb-14 22300
Mar-14 1030000 Mar-14 25085
Page | 44
Market share
Islami Trust
Bank DBBL Bkash Bank Mercantile bank Others
Market
Share 20% 70% 5% 0.25% 0.25% 4.50%
Subscriber growth rate of bkash & DBBL

Month bkash DBBL
Apr-13 47.50% 28.24%
May-13 25.80% 36.26%
Jun-13 24.05% 17.44%
Jul-13 44.48% 19.14%
Aug-13 11.52% 16.27%
Sep-13 18.84% 13.58%
Oct-13 18.13% 13.48%
Nov-13 34.65% 11.10%
Dec-13 13.27% 11.73%
Jan-14 25.19% 13.27%
Feb-14 17.81% 12.44%
Mar-14 7.89% 15.42%
Agent growth rate of bkash & DBBL

Month bkash DBBL
Apr-13 40.44% 38.32%
May-13 13.27% 12.92%
Jun-13 23.09% 20.00%
Jul-13 29.03% 14.81%
Aug-13 16.91% 27.90%
Sep-13 7.55% 22.32%
Oct-13 25.73% 15.46%
Page | 45
Nov-13 13.02% 30.80%

Dec-13 15.23% 15.15%
Jan-14 15.95% 23.89%
Feb-14 16.63% 6.70%
Mar-14 5.64% 12.49%
Page | 46

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Mobile Banking in Bangladesh (A comparative study between bkash & DBBL)

Mobile banking refers to a client-server system that is specifically designed for

1.2 Origin of the Study:

DBBL)”. I have tried my level best to present my experience of the practical

1.3 Objectives of the study:

The primary objective of the study is:

The secondary objectives of the study are:

3. To make comparison between bkash and DBBL mobile banking in

1.4 Scope of the study:

Identifying Data Sources

Selection of the Topic

Classification, Analysis, Comparisonand Presentation of Data

Findings of the Study

Final Report Preparation

Figure: Flow chart of methodology

1. Identifying data sources: Essential data sources both primary and

• In case of collecting secondary data I have collected data from various

Moreover, a period of a year is not enough to understand the complete picture

2.1 Literature Review

Investigated the customer’s perspectives of mobile banking, their perceived

Rotchanakitumanuai and Speece (2003)

Ahmed Ali said...

2.2 Mobile Banking

2.3 World View of Mobile Banking

2.4 Infrastructure for Mobile Banking

2.5 Features of Mobile Banking Services (In

2) Payment, Deposits, Withdrawals & Transfers:

3.1 Mobile Banking in Bangladesh

problems. Bangladesh Bank is developing country’s payment system but by

Trust bank, 0.25% Mercantile Bank, Others , 4.50%

DBBL bkash Islami Bank Trust bank Mercantile Bank Others

Figure: Market share of mobile banking industry in Bangladesh

Mobile Banking is a process of no branch banking which provides financial

List of banks and their products mentioned below

SL# Bank Name Product Name

1. Duch-Bangla Bank Limited. Mobile-Banking

2. BRAC Bank Limited. bkash

3. Prime Bank Limited. EasyCash

4. Islami Bank Bangladesh Limited. mCash

5. Trust Bank Mobile Money

6. National Credit and Commerce Bank Limited SureCash

7. Bank Asia Limited. Mobile Banking

8. Dhaka Bank SMS Banking

9. Mercantile Bank Mobile Banking

10. AB Bank SMS Banking

11. South East Bank SMS Banking

12. First Security Islami Bank SureCash

3.2 bkash Background

mission is to provide affordable, convenient and reliable financial service

3.2.1 Products and Services

bkash provides different types of services . They are:

02. Let the agent know the amount want to Cash In

04. Pay the amount of money want to Cash in

05. In exchange, the agent will send balance to bkash Account.

03. Send Money

04. Buy Airtime:

06. Interest on saving:

BDT 1,000 – BDT 5,000.99 1.5%

Conditions for attaining interest:

• Customer Wallet Opening Form must be accepted at bkash and

3.2.4 bkash promotional activities:

Billboard: One of the best ways of communication is billboard now bkash

3.2.2 Subscribers of bkash bkash Limited started their operation in July