CONTENT

Topics Page No.

1.Introduction 01
2. Methodology 01
3. Result and Discussion Customers 01
3.1 Mobile banking customers 01
3.1.1. Basic information of mobile 01
Banking users.
3.1.2. Understanding of mobile 02
Banking users.
3.1.3. Mobile banking services used 03
By the customers.
3.1.4. Times takes and Cost incurs 04
For mobile banking then
Traditional banking system.
3.1.5. Security status fir using mobile 04
Banking.
3.1.6. Economic condition of mobile 05
Banking users.
3.1.7. Problem faced by the users 06
For using mobile banking.
3.2. Mobile banking agent 07
3.2.1. Basic Information of mobile 07
Banking agent.
3.2.2. Service quality 08
3.2.3. Transaction 08
3.2.4. Service offered by the mobile 09
Banking agent.
3.2.5. Problems faced by the agents 09
For providing mobile banking
Service.
4. Conclusion 10
5. Recommendation 10
6. References 10
Assignment No. Name of the Assignment Page No.
04
Assigned Date: Mobile Banking Services and Facilities in Sylhet District of 01
08.03.2020 Bangladesh: A Study on Rocket Mobile Banking Service
1. Introduction
Mobile banking is a service provided by a bank or other financial institution that allows its customers
to conduct financial transactions remotely using a mobile device such as a smartphone or tablet. There
are nine mobile banking services operating in Bangladesh. They are Rocket, bKash, UCash, My Cash,
OK Mobile Banking, Nagad, T-cash, M-cash and Sure Cash provided by Dutch Bangla Bank Ltd.,
Brac Bank Ltd., United Commercial Bank Ltd., Mercantile Bank Ltd., One Bank Ltd., Bangladesh
Post Office, Trust Bank Ltd., Islami Bank and Rupali Bank respectively.
Rocket is a mobile banking service provided by Dutch Bangla Bank Limited. It is the first mobile
banking service launched in Bangladesh. It is launched in the market place in May 2011. Dutch-
Bangla Bank Limited, an innovative keen commercial bank in Bangladesh, has begun Rocket with a
vision of elevating Banking to the people who are unbanked and to create awareness of having saved
money for facing any crisis among unbanked people.
The aim of this study was to understand
 the service quality of Rocket.
 the level of satisfaction of Rocket users (users from Baluchor, Shibganj and Tilagor areas of
Sylhet district).
 the accessibility of mobile banking services in the certain areas.
 the agents’ opinions about Rocket.
2. Methodology
The study was carried out at Sylhet district of Bangladesh based on the primary data. Data were
collected from 12 Rocket mobile banking users and 12 agents from Baluchor, Shibganj and Tilagor
areas of Sylhet Sadar Upazila by applying the random sampling technique. The required data were
collected through personal interviews with the selected respondents using a semi-structured
questionnaire during the months of February to mid March 2020. Descriptive Statistics (such as
frequency, percentage, average etc.) were used to analyze the collected data.

3. Results and Discussion

The results obtained from the study is discussed under different headings below.

3.1 Mobile Banking Customers

Mobile banking services are getting popular day bay day. It is because of the time efficiency and easy
way of banking without a bank account through Rocket. People can transact money without a bank
account and even without moving to anywhere. Dutch Bangla Bank Ltd. Is the first banking institution
in Bangladesh which has launched the mobile banking services in Bangladesh through Rocket. People
of Baluchor, Tilagor and Shibganj areas of Sylhet district of Bangladesh use rocket as an alternative of
a bank account.

3.1.1 Basic Information of Mobile Banking Users

Table 1 represents the major socio-economic characteristics of rocket mobile banking users.
From the below table we can see that 8 of the users among 12 are male while the rest of the
users are female. In other words, 66.67% rocket users of the area are male and the rest 33.33%
of them are female. It is certain that male people are more interested in rocket mobile banking
than the females in the certain areas.
From the second section of the table we can understand the tendency to use rocket mobile
banking services of different age of people. 10 people (83.33%) among the total of 12 are aged
16 to 30 years while the other 2 of them (16.67%) are aged 46 to 60 years. Children and over
aged (61 and above) people don’t use mobile banking services.
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Major socio-economic characteristics of mobile banking users

Characteristics Number Percent
Gender
Male 8 66.67
Female 4 33.33
Total 12 100
Age Distribution (Years)
16-30 10 83.33
31-45 0 0
46-60 2 16.67
61 and Above 0 0
Total 12 100
Marital Status
Married 2 16.67
Unmarried 10 83.33
Total 12 100
Years of Schooling
No Schooling (0) 0 0
Primary (I-V) 0 0
Secondary (VI-X) 1 8.33
Higher Secondary (XI-XII) 1 8.33
Bachelor (XIII-XVI) 10 83.33
Others (above XVI) 0 0.00
Total 12 100
Table 1: Major Socio-economic Characteristics of Mobile Banking Users.
The next segment of the table shows us the marital status of the Rocket users of the region. It tells us that
83.33% of the users are unmarried and the rest of the people are married. The willingness to use a mobile
banking service is more acute in unmarried persons than that of the married. The final section of the
above table explains the educational status of the Rocket users of Baluchor, Shibganj and Tilagor areas of
Sylhet district. Uneducated and primarily educated (Std. 1 to Std 5) persons don’t use Rocket at all. 8.33%
of the users are of the secondary level (VI-X) while another 8.33% of them have completed the higher
secondary level. Most of the users are undergraduates or graduates as we see that they are 83.33% of the
totality.

3.1.2 Understanding of Mobile Banking Users

Mobile banking through Rocket has been quite familiar now a days. Table 2 depicts peoples’
understanding about mobile banking. In this study our targeted group of mobile banking users
were the people from Tilagor, Shibganj and Baluchor areas of Sylhet district. So, this table
would help us to understand the Rocket users from the selected area. As one of the major aims
of our study was to investigate the service quality of Rocket mobile banking services, we
found that a 100% people are familiar with mobile banking services which is shown in the
table below. All of them have used mobile banking services before.
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Different particulars for understanding of mobile banking users

Particulars Yes No Total
Numbe
Number Percent Number Percent r Percent
Are you familiar with mobile banking
services? 12 100 0 0 12 100
Have you used mobile banking services
before? 12 100 0 0 12 100
Are you satisfied with your banking
institution's mobile application? 10 83.33 2 16.67 12 100
Do you use mobile banking most
frequently? 8 66.67 4 33.33 12 100
Table 2: Different particulars for understanding of mobile banking users.
Rocket provides with different mobile banking applications to its consumers in order to make the mobile
banking easier and more attractive. 83.33% of the users are satisfied with the mobile application of Rocket
while 16.67% of them think otherwise. To understand the using trend we investigated and found that 66.67% of
the users use Rocket most frequently and the other 33.33% of users use the services at times.

3.1.3 Mobile banking services used by the customers

Rocket gives different types of mobile banking services to its consumers. Among them cash in, cash
out, send money, merchant payment, bill pay, salary disbursement service, mobile recharge, foreign
remittance and fund transfer services are mentionable. Table 3 shows us the services used by the
Rocket customers.
The table shows us that all of the users use the cash in and cash out service. These two services are
the major services used by the Rocket users.

Different types of m-banking services used by the customers

Particulars Yes No Total
Number Percent Number Percent Number Percent
Cash in 12 100.00 0 0.00 12 100
Cash out 12 100.00 0 0.00 12 100
Send money 11 91.67 1 8.33 12 100
Merchant payment 0 0.00 12 100.00 12 100
Bill pay 8 66.67 4 33.33 12 100
Salary disbursement 0 0.00 12 100.00 12 100
Mobile recharge 9 75.00 3 25.00 12 100
Foreign remittance 2 16.67 10 83.33 12 100
Fund transfer 2 16.67 10 83.33 12 100
Table 3: Different types of mobile banking services used by the customers.
Send money service is used by 91.67% of the users. 8.33% of the users don’t use the service. From the table we
can also see that none of the users use the merchant payment and salary disbursement service.
Mobile recharge using the mobile banking has also added a new dimension to peoples’ life. People can easily
recharge their mobile phones using the mobile banking system. The table tells us that 75% users use the service
while bill pay service is used by 66.67% of the users and foreign remittance service and fund transfer services
are used by 16.67% of the Rocket users.
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3.1.4 Time takes and cost incurs for mobile banking than traditional banking system

The below table would be helpful to understand the patterns of time spent and cost incurred by the Rocket
users.

Patterns of time spent and cost incurred by the mobile banking users
Higher Lower Medium Affordable Total
Particulars Numbe Percen Percen Numbe
r Percent Number t Number t r Percent Number Percent

What do you
think how
much time
mobile 0 0.00 10 83.33 1 8.33 1 8.33 12 100.00
banking
takes than
traditional
system?

What do you
think about 6 50.00 4 33.33 1 8.33 1 8.33 12 100.00
the cost of
mobile
banking than
traditional
banking?
Table 4: Patterns of time spent and cost incurred by the mobile banking users.
The above table illustrates that 83.33% of the users think that the mobile banking takes lesser time to do
transactions than traditional banking system while 8.33% of the users say that the time needed for doing mobile
banking is medium as well as affordable.
From the second section of the table we can see that 50% of the consumers think that the cost of mobile banking
is higher. Among them 33.33% say that the cost for transactions are lower than traditional banking while 8.33%
of them consider it as a medium costly and affordable service.
3.1.5 Security status for using mobile banking

Money transaction through any kind of digital technology is

Security Status for Using Mobile Banking
a great challenge. To ensure a secured transaction the
service provider company has to be so careful. Particulars Number Percent
Secured 3 25.00
Medium Secured 9 75.00
Unsecured 0 0.00
Total 12 100.00
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Table 5 shows the security status for using mobile banking. We can easily describe the information of the above
table with the graph below.

Security status for using mobile banking

10
9
9
8
7
6
5
4
3
3
2
1
0
0
Secured Medium Secured Unsecured

Number

Figure 1: Security status of mobile banking by the users

From the graph we see that 9 out of 12 users say that the mobile banking service of Rocket is medium secured
while 3 of them say that it is secured. None of them consider it as an unsecured way of transaction.

From the table we see that 75% of the users think that Rocket is a medium secured way of transaction and the
rest 25% of the users say that it’s a secured system.

3.1.6 Economic condition of mobile banking users

Mobile banking is a service which provides banking services through a mobile phone or tablet. So, a mobile
phone is a must for using Rocket mobile banking service. We studied the economic condition of Rocket
mobile banking users and found the information of the below table and figure.

Economic
Economic conditioncondition
of m-banking users
Particulars Number Percent
Rich 0 0
Middle 12 100
Poor 0 0
Total 12 100
Table 5: Economic condition of mobile banking users.
From the pie chart we can see that a 100% people who use
12
Rich Middle Poor
Rocket mobile banking services are from middle class
families. No rich or poor use Rocket at all.
Figure 2: Mobile Banking users’ economic
condition.
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3.1.7 Problems faced by the users for using Rocket mobile banking services

Different problems faced by the mobile banking users are shown in the table below:

Major Problems faced by the mobile banking users

Serial No. Problems Number Percent
1 Delayed confirmations of transactions. 5 62.50
2 Higher Cost of transaction. 2 25.00
3 Lack of smooth transaction. 3 37.50
4 Fear of cyber-attack. 1 12.50
5 Transaction depends on the agent's willingness. 1 12.50
Total 8 66.67
Table 6: Major Problems faced by the mobile banking users.
Delayed confirmation of transaction is the major problem faced by the customers. There are 8 people who
face different types of problems. Among them 62.50% face the delayed confirmation problem. Sometimes
confirmation SMS take too long to appear. There are 25% user who complained that the cost of transaction
is higher. Some users fear about the cyber security. Sometimes the transaction depends on the willingness of
the agents.
However, there are 66.67% users who face different sorts of problems while using Rocket mobile banking
services.
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3.2 Mobile Banking Agent

3.2.1 Basic Information of Mobile Banking Agents

There are many agents who give different sorts of services to the Rocket mobile banking
customers. Table 8 illustrates the major socio-economic characteristics of Rocket mobile banking
agents.

Characteristics Number Percent

Gender
Male 12 100.00
Female 0 0.00
Total 12 100.00
Age Distribution (Years)
16-30 4 33.33
31-45 5 41.67
46-60 3 25.00
61 and Above 0 0.00
Total 12 100.00
Marital Status
Married 12 100.00
Unmarried 0 0.00
Total 12 100
Years of Schooling
No Schooling (0) 0 0
Primary (I-V) 0 0
Secondary (VI-X) 6 50.00
Higher Secondary (XI-XII) 5 41.67
Bachelor (XIII-XVI) 0 0.00
Others (above XVI) 1 8.33
Total 12 100.00
Table 7: Major socio-economic characteristics of Rocket mobile banking agents.
From the above table we can see that 100% of the agents are male. There are no female agents in the targeted
region.
Among the Rocket agents 41.67% are aged between 31 to 45 years while 33.33% of them are aged between
16 to 30 years. There are 3 agents who are aged between 46 to 60 years who comprise of 25% of the agents.
There are no agents aging more than 60 years.
All of the agents are married.
50% of the agents have taken secondary education, 41.67% higher secondary and 8.33% of the agents have
taken higher education. There are no agents who have not any schooling.
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3.2.2 Service Quality

Popularity of a banking institution entirely depends on its service quality. Dutch Bangla Bank Ltd. is one
of the renowned private commercial banks in Bangladesh. Rocket is the mobile banking service provided
by this bank. The service quality of Rocket is analyzed below.

Particulars Quality Number Percent

Network quality for Good 2 16.67

Service Moderate 10 83.33
Bad 0 0.00
Total 12 100.00
Transfer SMS service Smooth 5 41.67
Medium 7 58.33
Slow 0 0.00
Total 12 100.00
Table 8: Service quality by the mobile banking provider.

From Table 9 we see that 83.33% of the agents have declared that the network quality for service is moderate
and the rest (16.67%) of them said that the network quality is good. There is no bad report for network quality
for services.
The transfer SMS service is also in a good condition. 58.33% of the agents say that the transfer SMS service
is medium while the rest 41.67% say that the service is smooth.

3.2.3 Transaction

Table 10 shows us the daily average transactions by the mobile banking agents. The daily amount of cash
in, cash out and send money is shown in the table below.

Particulars Amount in Tk. (Average/day)

Cash in/day 16791.67
Cash out/day 19708.33
Send money/day 7458.33
Table 9: Transaction (average/day) by Rocket mobile banking agents.

The rocket mobile banking agents from Baluchor, Tilagor and Shibganj areas of Sylhet district do cash in of
Tk. 16792 (approximately) per day. They do cash out of Tk. 19708 (approximately) per day and send money
of Tk. 7458 (approximately) per day.
From the above table it is evident that the users use the cash out service more than that of the cash in service
as well as the send money service.
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3.2.4 Service offered by the mobile banking agents

The mobile banking agents offer different kinds of services to the customers. Some of the services are
only for the Rocket mobile banking users and some of them are for every individual. The services offered
by the Rocket agents are shown in the table below.

Particulars Yes No Total

Number percent Number Percent Number Percent
Mobile recharge 5 41.67 7 58.33 12 100.00
Education payment 6 50.00 6 50.00 12 100.00
Utility bills 11 91.67 1 8.33 12 100.00
E-commerce payment 7 58.33 5 41.67 12 100.00
Credit card payment 2 16.67 10 83.33 12 100.00
Table 10: Different services offered by the mobile banking agents.

Table 11 represents the services offered by Rocket mobile banking agents. From the above table we can see
that 91.67% of the agents provide the utility bill payment services to their customers using their Rocket
mobile banking accounts while 58.33% of the agents provide e-commerce payment service. 50% of the
agents serves with education fees payment and 41.67% of the agents provide mobile recharge service using
their Rocket mobile banking accounts. Credit card payment with the Rocket mobile banking accounts is the
least used service.

3.2.5 Problems faced by the agents for providing Rocket mobile banking services

Though Rocket mobile banking service offers different kinds of services to the agents, they face some
problems. Table 12 highlights the major problems faced by the Rocket mobile banking agents.

Serial
No. Problems Number Percent
1 Network lagging. 6 66.67
2 Device monitoring/maintenance. 1 11.11
3 Less profit for each transaction. 2 22.22
4 Limited transaction. 2 22.22
5 Security problems. 2 22.22
6 Harassment from the consumers for delayed transaction. 1 11.11
7 Cash in hand risk. 1 11.11
Total 9 75.00
Table 11: Major Problems faced by the mobile banking agents.
The above table shows us that 75% of the agents face different problems for providing Rocket mobile
banking service. 66.67% of the agents complains about the network problem. At times they can’t do any
transaction because of the network problem. 22.22% of the agents who face different problems for providing
mobile banking service, face also the security problems. 22.22% of them complain about the daily transaction
limit.
Assignment No. Name of the Assignment Page No.
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Assigned Date: Mobile Banking Services and Facilities in Sylhet District of 10
08.03.2020 Bangladesh: A Study on Rocket Mobile Banking Service

4. Conclusion

Mobile banking in Bangladesh is getting more familiar day by day. It is a major versatile media
transmission stage of new innovation which advances the mobile banking capacities in
Bangladesh. Rocket mobile banking causes Dutch Bangla Bank Ltd. to expand their clients.
Likewise, the more the number of clients will increase the more the security issues and dangers
will increase. Dutch Bangla Bank Ltd. should address the security issues and secure the structure
of Rocket mobile banking.

5. Recommendation
 The service provider bank could arrange free seminars for the agents.
 Dutch Bangla Bank should add more banking services to Rocket.
 They should ensure improved transaction.
 They should lessen the transaction charge for the customers to hold on to the mobile
banking market.

6. References

 https://en.wikipedia.org/wiki/Mobile_banking
 https://en.wikipedia.org/wiki/Banking_in_Bangladesh