Customer Satisfaction Towards Fintech Services in Bangladesh: A Study on

bKash Fund Transfer System.

Introduction

MFS service offering the financial services that combines banking transactions through mobile
wireless system which enables users to execute banking transactions. According to Regulatory
authority (BB) in Bangladesh, Mobile financial services are reached to the urban and suburban
area and those people are its big users. And now days, an effective portion of the populations are
living in rural areas and bkash trying best to connect with them. People who lives in remote area
are also part with different financial activities for a vibrant rural economy. Bkash agents are also
play vital role to provide comfortable service to its customer. The company has many agent’s
outlets all over the outlet. Agents are responsible for providing the secure and reliable transaction
to their customer. Agents help its customer to make awareness about their transaction. Agents are
guardedly hopeful to be something worthwhile to remain involved with.

Reason to choose the topic:

My interest to choose this topic and conduct this analysis to know the economic development and
evaluation of FinTech business our country where a large percentage of people are engaged in
mobile banking service. This study try to understand the context of FinTech business in this
transitional economy and also helps to money circulation easily.

Objectives of the Studies:

The main purpose of the study is to collect the information from the customers of Bkash from
different part of the area to know their services towards the customers and also to analyze the
potentiality of the MFS companies in BD in near future.

Broad Objectives:

• To know the FinTech Industries.

• To analyze the customer satisfaction level on Mobile Financial Services.
• To know the overall customer satisfactions towards the FinTech company bKash.
Special Objectives:

• To analyze the effectiveness of the current value propositions of bKash.

• To find out the gaps of the company offering to the customers.
• To determine the factors that affect the customers adopting the services from Bkash.
• Identify the customer services to the rural area by bKash.

Methodology

I will collect data from the various sources and those have been categorized under:

For this purpose, I will have developed some questionnaire for collecting the particular
information form the samples by using different convenient sampling techniques and then
analyzed them. I have used Likert scale for numbering the opinions. Besides this the other
information related to the company is collected from the secondary sources based on some
literature review and different magazines related to this study and also from the annual report of
the company. The topic of the study was chosen focusing on the FinTech companies and the
customer’s satisfaction and demands level towards them.

Primary data:

Survey:

I will have developed some questionnaire based on the objective of the study and then collect
information from the customers which will help me to prepare the report.

Face to face interaction:

I will also collect some data by asking random employees of bKash to obtain necessary
information to complete the report.

Secondary data:

Secondary data have been collected from various official and online sources, websites, articles
and reports of bKash Limited.

Research method:

I will have used descriptive research method to reach the objectives of the report. I have chosen
this method because this the more appropriate method and also goes with my topic.
Survey method:

The primary intention for doing this report is to measure the level of customer satisfaction of
Bkash as a mobile financial company or service provider. For data collection, I will set total 20
questions. All the questions are close ended questions and the questions are filled up by the
participants in online. The questions are constructed in simple way so that everyone can
understand the questions and can answer them easily and quickly.

Population:

The population for this report is from the remaining customer of Bkash as Bkash is servicing
most of the people in Bangladesh as a FinTech.

Sample:

The sample is the subset of population. I have used convenience sampling method for the study.
The sample is the sample size will 50 - 100 participants have responded.

Literature Review

The banking industry significantly changed by quick and effective advancement in information
and communication technology. Financial sectors, especially the banking sector, have improved
their services through different information technologies. In Bangladesh, mobile phones are one
of the most recognized technologies and also in many developed countries. The number of
traditional branch banks is reducing day by day as observed recently in Bangladesh.

Akram Hossain and Ziaul Haque (2014) assessed the client's point of view of the
appropriation of m-banking in Bangladesh. The client's discernment was seen as overwhelmingly
positive towards mobile banking. A few unique factors, for example, specialized and security
guidelines, and business and legitimate issues, administrative and supervisory issues were seen
as the fundamental factors that are frustrating thermopile financial usage process in Bangladesh
Bank is trying to reduce these constraints to develop transactions and has some goals under the
target of Digital Bangladesh. If all of these problems are solved mobile banking can be the best
medium of future transaction.
Baten (2010) has analyzed economic prospects of e-banking and explained the present scenario
of banking sector in Bangladesh and also tried to demonstrate the scope and benefits of e-
banking compared with the existing system. He tried to present actual situation of e-banking in
the marketing point of view in Bangladesh. The results of his study show that e-banking serves
several advantages to Bangladeshi banking sector.

Avasthi and Sharma (2000 - 2001) point out that advances in technology are set to change the
face of banking business, technology has transformed the delivery channels by banks in retail
banking and the technology based services has impacted the markets of banks. The study also
explored the challenges that banking industry and its regulator face.

Bhasin (2001) analyzed the impact of IT on banking sector. It has transformed the repetitive and
overlapping systems and procedures into simple single key pressing technology resulting in
speed, accuracy and efficiency of conducting business and enabling them to enter into the new
activities. Globally mobile financial services have proven to be an effective and efficient way of
providing enabling financial products and services, especially among the unbanked population.

Uddin (2008) At present, the financial institutions are more focusing on data analytics and
mobile technology, where the FinTech companies are focusing on developing technology to
excel the digital customer services.

Conclusion

Mobile financial services, cash-in, cash-out, mobile recharge, payment, and remittance are
gaining popularity as recognized FinTech in Bangladesh because of the regulated environment,
corporate culture and governance, USSD driven technology, automation, data security
population demographics and attracting an investor. However, IT security, regulatory limitations,
and the difference in culture are still playing the role of key challenges to sustain digital financial
operation in Bangladesh.