Internet Banking: Customer Preference Factor and Feasibility of Implemented Features in Terms of an Existing Commercial Bank.

Topics: Bank, Online banking, Commercial bank Pages: 8 (1279 words) Published: June 19, 2013

MBA PROGRAM
INSTITUTE OF BUSINESS ADMINISTRATION
_____________________________________________________________

Course Title: Management Information System
Course Code: K503
Subject: Proposal for the project report

Submitted to:
Mr. Rezwanul Haque Khan
Lecturer, IBA, University of Dhaka

Submitted by:
• Md. Shahan Shah Reza 42D 52
• Md. Akbar Hossain 45D15
• Mukter Hossain Khan 45D18
• Md. Qutub Al-Hossain 45D54
• Sharif Muhammad Faizul Alam42D18

Session: 2011-2012
Date of Submission: 06th November, 2012
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Institute of Business Administration
University of Dhaka

1. BACKGROUND
To increase the living standards of society and to sustain in competitive business world, like other financial institutions, commercial banks always try to expand its services regarding quality and quantity among its existing and potential customers which is now possible with the introduction of internet banking phenomena. In Bangladesh, commercial banking industry is still fueling all kinds of business activities.Thus banks have to cope with the rapid changes of never ending demand of each people. Internet Banking is an alternative delivery channel which is more secured and faster than most other channels like ATM/Debit Card, SMS Banking, Phone Banking etc. Foreign and Local Private Banks are setting new heights of Internet Banking with the introduction of new renovated services which offers the customers fast, secured, reliable and cost-effective services with maximum convenience of Banking at the customer’s own time. To date, more banks have established an advertising presence on the Internet— primarily in the form of informational or interactive web sites—than have created transactional web sites. However, a number of Banks that do not yet offer transactional Internet banking services have indicated on their web sites that they will offer such banking activities in the future. The concept of Internet banking has been simultaneously evolving with the development of the world wide web. Programmers working on banking databases came up with ideas for online banking transactions, some time during the 1980s. Banks and other financial institutions in Bangladesh have been emphasizing on online banking to survive well in very competitive market at present. Though internet banking has multidimensional positive effects on commercial banking sector, full fledged application of this technology is a gigantic task causing investment in technology is always a top agenda and under constant focus of the bank. Some of the commercial banks of our country introduced Temenos Internet banking (TIB) application in 2005, but The Bank has observed that due to various problems, bugs, sluggish performance and incompatibility with many modern browsers, the list of Customers' complaints against TIB has been very long since the deployment of the service. In such a critical situation, to protect image and continue the Internet Banking Service smoothly for Customers, the Banks have decided to develop Internet Banking Application \the first version of the new Internet Banking Application Altitude for the Bank’s Customers to serve them with various real-time banking services without requiring them to come to the Bank. Customers can access the application using any browser from their Desktop PC, Laptop and any handheld device like Mobile Phone, PDA, Tablet etc. It is high time for us to grab sufficient knowledge and information regarding this technological revolution. This will obviously will help us know their internet based customer oriented services and influences on the customer preference factors.

2. OBJECTIVE

• To know the past and present internet banking operation of Prime Bank Ltd

• To find out the customer’s demand change for internet banking over time

• To recommend how the changing demand for...
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