A thesis paper

On

Mobile banking: Current development, prospect &

threats
 Letter of Transmittal
Date: 15 June, 2017.

Dr. Md. Main Uddin

Professor

Department of Banking & Insurance

Faculty of Business Studies

University of Dhaka

Subject: Submission of internship report.

Dear Sir,

With great pleasure I am a student of MBA (evening program), submit my report on “Mobile
Banking: Current Development, Prospect & Threats” that I was assigned to fulfill the
requirement of my master’s degree. To prepare this report, I have collected information from all
available sources in the most realistic and professional way.

During the process of preparation due to various constraints there may be some mistakes.
However, I apologize for all those and beg your kind consideration in this regard. I hope that you
would be kind enough to receive this and bless me hearty with respect.

Yours Truly -

……………………….

(Md. Amirul Faishal)

Id no: 51429082

MBA (Evening Program)

Department of Banking & Insurance

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University of Dhaka

Certificate of Supervisor

This is to certify that, Md. Amirul Faishal, Id No-51429082, Department of Banking & Insurance,
University of Dhaka is a student of MBA (evening) program. He has completed a thesis paper
entitled “Mobile Banking: Current Development, Prospect & Threats” under my direct
supervision & guidance, which is a requirement for completion of MBA Degree.

I wish his success in all his future endeavors.

……………………….

(Dr. Md. Main Uddin)

Professor

Department of Banking & Insurance

Faculty of Business Studies

University of Dhaka.

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 Acknowledgement

First of all I would like to thank all mightily Allah for giving me the patience and proper time to
complete the thesis successfully. It is pleasure to take this occasion to thank a few people who
have, assisted, encouraged directed and supported throughout the whole period.

I am very much grateful to my honorable supervisor Dr. Md. Main Uddin, Professor,
Department of Banking & Insurance, Faculty of Business Studies, University of Dhaka for
assigning me to prepare this report. He has guided me to prepare the whole report. He has given
his valuable guidelines to show the path to a novice.

I would like to thank the respondents of my survey, my family members & friends who were really
supportive. I am grateful to all of them. Eventually, I would like to convey my thanks to all other
personnel for their valuable suggestions and contributions that have helped me much in preparing
this report.

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 Declaration

I do hereby declare that the thesis paper titled “Mobile Banking: Current Development, Prospect
& Threats” is an original work.

The assigned work is done by me for the partial requirement of my MBA degree, as a part of
academic requirement. I declare that the work presented in this thesis paper, has been carried out
by me & has not previously been submitted to any other university for academic qualification /
certificate /diploma or any other degree.

The work I have presented does not breach any existing copyright & no portion of this thesis paper|
is copied from any other work done earlier for a degree of otherwise.

……………………….

(Md. Amirul Faishal)

Id no: 51429082

MBA (Evening Program)

Department of Banking & Insurance

University of Dhaka

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 Abstract

Mobile banking is a growing phenomenon in our country. Although the concept is new to the
people of Bangladesh, it is seeing phenomenal growth in the past few years. Bangladesh has a
huge population of 161.75 million, among these huge population only a small percentage has
access to bank accounts whereas more than 95% are mobile phone users. The purpose of this
research is to determine the current development of mobile banking in Bangladesh, its
development & Threats. A survey was conducted on 30 respondents for data collection, along with
the primary data secondary data sources are also used. We found that the mobile banking is
developing rapidly & growth of mobile banking depends on time saving, user convenience,
transaction limit, bringing rural areas under the coverage of mobile banking. Thus the null
hypothesis is accepted & alternative hypothesis is rejected. The total amount of transaction is
growing each year. Mobile banking is seeing rapid growth in our country. The future prospect
looks bright. Although, there are few threats but, by taking corrective measures they can be
resolved.

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 Table of Contents

Serial No. Title Page No.

Letter Of Transmittal I
Supervisors Certificate ii
Acknowledgement iii
Declaration iv
Abstract v
01. Introduction 1-3
1.1 Introduction to the Research 1
1.2 Background of the Research 1
1.3 Research Topic & Justification 1
1.4 Research Objective 2
1.5 Scope of the Research 2
1.6 Research Methodology 2-3
1.7 Limitation of the Study 3
02. Literature Review 4-6
2.1 Variable Used in Literature 5-6
2.2 Selected Variable & Characteristics 6
2.3 Formulation of Hypothesis 6
03. Current Scenario & Prospect 7-13
3.1 Mobile Banking Current Scenario 7-11
3.2 Prospects of Mobile Banking 12-13
04. Data Analysis 14-39
4.1 Data Analysis 14-35
4.2 Descriptive Statistics 36
4.3 Relationship Between Growths of Mobile Banking 37-39
& Development Options
05. Findings & Conclusion 40-41
5.1 Findings of the Study 40
5.2 Conclusion 41
 List of Tables

Serial Title Page No.

No.
1 List of mobile financial service provider 7-8
2 Transaction limit for mobile financial service 9
3 Gender of the respondent 14
4 Profession of the respondents 15
5 Monthly Usage of the respondent 16
6 Maximum amount of transaction made by respondent per month 17
7 Agent Location are convenient 18
8 Mobile Banking saves time 19
9 Mobile banking is convenient to use in day to transactions 20
10 Transaction Limit does not create any problem 21
11 Safety of transaction in mobile banking 22
12 Error free records 23
13 User-confidence of using mobile banking 24
14 User getting promised service from company 25
15 Reputation of the bank is affected by their mobile banking service 26
16 High fees of mobile banking 27
17 Loss of money due to network malfunction 28
18 Criminals can hack or steal from my bank account if my phone is 29
lost
19 Delay in receiving payments due to technological problem 30
20 There is a fear of losing money due to carelessness or human errors 31
21 Mobile banking is used in criminal activities 32
22 Online payments can be made easier using mobile banking 33
23 Rural & unprivileged brought under banking service 34
24 Growth of mobile banking 35
25 Descriptive statistics 36
26 Model Summary 37
27 ANOVA 38
28 Coefficients 39
 List of Figures

Serial No. Title Page No.

01 Transaction Via Mobile 9
02 Total Transaction Via Mobile 10
03 Total Registered Customers 11
04 Gender of the respondent 14
05 Profession of the respondents 15
06 Monthly Usage of the respondent 16
07 Maximum amount of transaction made by respondent per month 17
08 Agent Location are convenient 18
09 Mobile Banking saves time 19
10 Mobile banking is convenient to use in day to transactions 20
11 Transaction Limit does not create any problem 21
12 Safety of transaction in mobile banking 22
13 Error free records 23
14 User-confidence of using mobile banking 24
15 User getting promised service from company 25
16 Reputation of the bank is affected by their mobile banking service 26
17 High fees of mobile banking 27
18 Loss of money due to network malfunction 28
19 Criminals can hack or steal from my bank account if my phone is lost 29
20 Delay in receiving payments due to technological problem 30
21 There is a fear of losing money due to carelessness or human 31
errors
22 Mobile banking is used in criminal activities 32
23 Online payments can be made easier using mobile banking 33
24 Rural & unprivileged brought under banking service 34
25 Growth of mobile banking 35
1.1 Introduction to the Research

Mobile banking is a growing phenomenon in our country. Although the concept is new to the
people of Bangladesh, it is seeing phenomenal growth in the past few years. The development of
mobile banking depends on many factor, such as coverage of the mobile operator, increasing usage
of mobile banking, strong legal & regulatory framework etc. Mobile banking provides speedy &
quick solution to the customer. It is becoming very popular & will continue to grow.

1.2 Background of the Research

This paper is undertaken mainly to find the current development of mobile banking in Bangladesh.
Also to find future prospects of mobile banking & threats – as a requirement of Academic course
under internship program. The internship program is a required course for the students who are
completing MBA from Department of Banking & Insurance, University of Dhaka.

1.3 Research Topic & Justification

Bangladesh has a huge population, among these huge population only a small percentage have
access to the mainstream banking services. Whereas, a huge portion of the population uses mobile
phone. Banks are now offering banking service to the rural community & unbanked population
through mobile phones. Customers can access their bank accounts & general information on bank
products & service through mobile devices. Currently 17 banks are providing mobile financial
service in Bangladesh. Dutch- Bangla Bank Limited was first to introduce mobile banking service
named as Dutch-Bangla Mobile Banking (Now Rocket), Brac Bank were second , they launched
Bangladesh’s first complete mobile financial service provider , Bkash Limited which is a
subsidiary of Brac Bank Limited. A lot of research has been done on mobile banking, but very few
try to find the current development & prospects of mobile banking. So, what is the current
development of mobile banking & what are the factors affecting the growth? From this point of
view the research is justified. Also, the scope of mobile banking is huge. So we try to find the
future prospect of mobile banking.

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1.4 Research Objective

1. To find current development of mobile banking.

2. To determine factors affecting the growth of mobile banking in Bangladesh.
3. Identify the future prospect of mobile banking in Bangladesh.
4. Identify the threats associated with mobile banking.
1.5 Scope of the Research

The scope of mobile banking is so big that it is impossible to show in a single research paper. It
need more research to find specific answers related to mobile banking. The research tried to find
the development of mobile banking, prospect & threats using 30 respondents. But spread of data
throughout the country could change the results. Security problem from the viewpoints of the
service provider, cost – benefit analysis etc. can be answered through further research.

1.6 Research Methodology

It was an exploratory research with some features descriptive research to identify development of
mobile banking, major determinant of growth of mobile banking in Bangladesh, its prospect &
threats.

Data sources: Both primary & secondary data were used for the study.

Primary sources: a structured questionnaire was used as a research instrument to collect

primary data from the users of mobile banking. The questionnaire started with demographic profile
of the respondents. The second part of the questionnaire comprises of question related to different
key variables selected for this study. A 5 point likert scale was used for the second part of the
questionnaire.

Secondary sources: Secondary data such as different book, academic articles are analyzed
to clarify the research topic & identify the variables. Secondary data source includes, journal,
books, websites, reports related to the research topic etc.

Sample size: Our study population was all the mobile banking users in Bangladesh & a
sample size of 30 people was taken for the study. Respondents were selected by random sampling
method.

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 Data Analyze Technique: For data analysis, the response given by the respondents were
shown using frequency distribution & descriptive statistics. A descriptive statistics is used to
analyze few selected variables. Finally ANOVA is used to clarify the result & hypothesis testing.
The following software was used for data analysis of the report.

 SPSS Version 23.0 for Windows

 Microsoft Excel 2013

1.7 Limitation of the Study

Every work face some limitation. The imitation faced by this study are:

 Time is a major limitation. The report is prepared within 3 months which may be not
enough time to collect all the necessary data to make the report fruitful.
 Some users were not aware about features of mobile banking, thus inaccurate opinion
exists.
 Some respondent were reluctant to share their information.

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 Literature Review
To acknowledge about the characteristics and variables of service quality of mobile banking
services, different research have reviewed. The abstract of selected literature are given below:

According to Bangladesh Bank, (2012), Mobile Financial Services (MFS) is an approach

to offering financial services that combine banking with mobile wireless networks which enable
users to execute banking transactions. This means the ability to make deposits, withdraw, and to
send or receive funds from a mobile account. Often these services are enabled by the use of bank
agents that allow mobile account holders to transact at independent agent locations outside of bank
branches.

The Federal Reserve, (2015) defines mobile banking as "using a mobile phone to access
your bank or credit union account. This can be done either by accessing your bank or credit union's
web page through the web browser on your mobile phone, via text messaging, or by using an app
downloaded to your mobile phone."

Shahanur, (2013), Mobile banking has a positive impact on transfer, payments, deposits &
withdrawals in financial transactions. It is also a cost effective, reliable & simple way of
conducting business & reduces the human error in the banking process.
The major constraints are operational issues, customer misuse of product & services, legal issues,
strategic issues & reputation issues.

Inam & Islam, (2013), Mobile banking offers limited purpose account only. Most of the
people do not have enough idea about mobile banking & those who has both conventional bank
account as well as mobile banking account, the conventional account can't be accessed with the
mobile banking account. There are no interbank fund transfer facility & data transferring through
the third-party cellular network may result in security threat.

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 Akram & Ziaul , (2014), some of the most highly valued options was first ubiquity and the
synopsis over the bank account. Quite a few issues like technological & safety benchmarks,
regulatory & supervisory challenges business & legal challenges are found to be the chief issues
which could hinder mobile banking implementation in Bangladesh. Online connectivity, secure
communication platform & encrypted messaging system are the factors that would enhance mobile
banking operation in Bangladesh.

Sohel, Johir, Ariful & Samina, (2011), Most people heard about mobile banking but does
not have a clear idea about it, it takes less time than conventional banking, mobile banking is
convenient & affordable and most people find it trustworthy.

Saifur & Mijanur,(2013), With the tremendous growth in mobile phone usage, banks in the
developed world have moved to utilize mobile banking, which makes banking easier, faster, and
very cost-effective. Mobile phones have quickly emerged as a successful and popular means of
communication in recent years and the researchers believe that growth of mobile banking in
Bangladesh is inevitable, especially when banks do not have sufficient number of branches in the
rural areas of Bangladesh.

2.1 Variables Used in Literature

Every literature uses variables which affect the quality of mobile banking service. Variables used
in different literature is given below:
Nupur (2010) uses reliability, responsiveness, assurance, empathy, tangibility & overall
customer satisfaction as variable. Yang & Zhang (2009) used completeness, security, adequacy,
simplicity, self- descriptiveness, functionality, reliability, facility, efficiency as research variable.
Kabir (2013) used perceived risks (performance risk, security/privacy risk, time risk, and financial
risk), trust (there are three dimensions of trust namely ability, integrity& benevolence),
convenience & relative advantage. Shahanur (2013) used opinion about time saving, cost, trust,
ease of use, infrastructure support, security etc. Goyal. Panday & Batra (2012) used demographic
variables such as age, sex, education, occupation, income. Other variables includes mobile handset

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operability, security & privacy & standardization. Sohel, Johir, Ariful & Samina, (2011) used ease
of access, security, speedy process, trustworthiness, cost etc. as variables.

2.2 Selected Variables & Characteristics

After being acknowledged by different literature, the following variable with their characteristics
are selected for the study.
 Development Options: Location, Time Saving, Ease of access, Amount of transaction,
Transaction limit, Bringing rural areas under the coverage of mobile banking
 Security & Reliability: Transaction security, Error free recording, Increase of confidence
& compensation, promised service, Prompt service, Reputation.
 Cost Efficiency: Fees, Charges taken by company.
 Threats : Losses due to malfunction, Losses due to fraud or hacker compromising security
of the user, Delays of receiving payments, Potential money loss due to transaction errors,
Use of mobile banking in criminal activities.
 Opportunities: Use of mobile Banking in online payment, Growth of mobile banking in
Bangladesh.

2.3 Formulation of Hypothesis

Based on the literature discussed the following hypothesis have been developed.
Ho: There is positive relationship between Growths of mobile banking in Bangladesh &
Convenient agent location, Time saving, User convenience, Transaction limit, Bringing rural areas
under the coverage of mobile banking
H1 : There is no relationship between Growths of mobile banking in Bangladesh &
Convenient agent location, Time saving, User convenience, Transaction limit, Bringing rural areas
under the coverage of mobile banking

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3.1 Mobile Banking Current Scenario

Bangladesh has a huge population of 161.75 million, among these huge population only a small
percentage has access to bank accounts whereas more than 95% are mobile phone users. Banks
are now offering banking service to the rural community & the population (without access to bank
accounts) through mobile phones. Customers can access their bank accounts & general information
on bank products & service through mobile devices. Banking can simply be expressed as a business
of receiving money from surplus spending group & lending it to the deficit spending group. Mobile
banking introduces a new dimension on banking services.

Mobile banking is a system that allows customers of a financial institution to conduct a

number of financial transactions through a mobile device such as a mobile phone or personal
digital assistant. Mobile banking differs from mobile payments, which involve the use of a mobile
device to pay for goods or services either at the point of sale or remotely. Currently 17 banks are
providing mobile financial service in Bangladesh. Dutch- Bangla Bank Limited was first to
introduce mobile banking service named as Dutch-Bangla Mobile Banking (Now Rocket), Brac
Bank were second , they launched Bangladesh’s first complete mobile financial service provider ,
Bkash Limited which is a subsidiary of Brac Bank Limited. List of bank providing mobile banking
service & their product name are given below:

SL# Bank Name Product Name

1. Duch-Bangla Bank Limited. Rocket
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 My Cash
10. AB Bank SMS Banking
11. South East Bank SMS Banking

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 12. First Security Islami Bank SureCash
13. Bangladesh Commerce Bank S-Cash
14. United Commerce Bank SMS Banking
15. IFIC Bank Mobile Banking
16. One Bank Ok Banking
17. Farmars Bank Mobile banking

Table1: List of mobile financial service provider, Source: Bangladesh Bank

The rapid growth of mobile phone users & countrywide coverage of mobile phone networks
has led to the rapid growth of mobile banking in Bangladesh. Mobile banking activities are
regulated by Bangladesh bank. Only the bank led model of mobile banking is allowed to operate
in Bangladesh. The approved mobile financial services by regulatory authorities are listed below:

1. Disbursement of inward foreign remittances.

2. Cash in /out using mobile account through agents/Bank branches/ ATMs/Mobile
Operator's outlets.
3. Person to Business Payments ‐ e.g. a. utility bill payments, b. merchant payments.
4. Business to Person Payments e.g. salary disbursement, dividend and refund warrant
payments, vendor payments, etc.
5. Government to Person Payments e.g. elderly allowances. Freedom‐fighter allowances,
subsidies, etc.
6. Person to Government Payments e.g. tax, levy payments.
7. Person to Person Payments (One registered mobile Account to another registered mobile
account).
8. Other payments like microfinance, overdrawn facility, insurance premium, DPS, etc.

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The transaction limit for these services are given below:

Serial Type of Transaction limit

No. transaction Per Day Per Month
01. Cash in BDT 15,000/- (maximum 2 BDT 1,00,000/- (maximum 20
transactions) transactions)
02. Cash out BDT 10,000/-(maximum 2 BDT 50,000/-(maximum 10
transactions) transactions)
For any Cash in transaction in a certain a/c, not more than BDT
5,000/- can be withdrawn from that a/c within next 24 hours.
03. Person 2 person BDT 10,000/- (no limit in 25,000/-(no limit in transaction
transfer transaction number) number)

Table 2: Transaction limit for mobile financial service, Source: Bangladesh Bank

Mobile banking in Bangladesh continues to grow fast. The total amount of transaction rose
to 48.75 percent growth year on year. In previous year the growth was an astonishing 53 percent.

Transaction Via Mobile

(In Crores Taka)

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2015 11,337 10,958 12,264 11,840 12,601 12,969 13,811 12,841 15,065 13,041 14,915 16,124
2016 16,745 16,568 18,241 18,209 18,481 23,151 17,639 20,343 19,471 20,692 21,933 23,213
2015 2016

Source: Bangladesh Bank

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 In 2016 the industry saw Tk. 234,691.79 crores in the transaction through mobile phones,
in 2015 the amount was Tk. 157,773.31 crores. So we can see that people are increasingly
comfortable with mobile banking. The average monthly transaction also rose from 13147.776
crores Tk. to 19557.649 crores Tk. Currently 28 banks have approval of mobile banking service
although 19 have launched operation & 17 banks are providing service.

Total Transaction via Mobile

(in crores Taka)
234,691.79

157,773.31

103,155.37

2014 2015 2016

Source: Bangladesh Bank

We can also see the total amount of transaction made via mobile is also increasing year to
year. In 2014 total amount was 103,155.37 crores, in 2015 the amount increases to 157,773.31
crores & in 2016 234,691.79 crores.

Total amount of registered customers also increased since 2013. As mobile banking
becomes increasingly popular among people, the total amount of registered customers increased
significantly.

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 Total Registered Customers
(In million)

51.38
41.08
31.84
25.19
13.18

2013 2014 2015 2016 2017

Source: Bangladesh Bank

The total amount of customers was 13.18 million at the end of 2013, it increased to 25.19
million at the end of 2014, 31.84 million in 2015 41.08 million at the end of 2016 & 51.38 million
after the month of April, 2017.

Users mainly uses mobile banking for different activities. Inward remittance, Cash in
transaction, Cash out transaction, P2P transaction, salary disbursement, Utility bill payment are
the most popular activities using mobile banking.

Bangladesh have launched mobile banking in 2011. In recent year this sector has seen
stellar growth. Although 28 bank has approval of launching mobile banking service & 19 launched
operation so far. Almost 90 percent of the tota market share are held by two major operator bKash
& Rocket. bKash a Brac bank ltd. subsidiary is the market leader & Rocket is second .

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3.2 Prospects of Mobile Banking

Mobile banking is growing rapidly in Bangladesh. The reports from Bangladesh Bank shows that
mobile banking is growing tremendously in the last five years. Mobile banking will continue to
play a significant role in day to day life as the use of mobile phone & smartphone continue to grow.

Mobile banking is a method of banking that provides banking facilities to unbanked & rural
communities at an affordable cost. By using mobile banking user can avail many service such as,
cash withdrawal from ATM or cash point, utility bill payment, fund transfer, shopping and many
more exciting facilities.

Non branch banking is becoming popular in our country. Banks are offering non branch
banking facilities to its customers via mobile banking platform. As mobile devices are very
common service provided through mobile devices will become widely accepted. So banks should
try to offer more innovative product & services to their customers through mobile banking
platform. Some future scope of using mobile banking is given below:

Developing application for smartphones: Mobile banking companies can develop

application for the smartphone user. This will make the use of mobile banking easier & banks will
be able to offer new product & services more easily.

Direct Connection With Bank Account: If mobile banking account is directly connected
to the bank account of the customer, it will be more beneficial.

Content Monetization: Digital contents can be monetized using mobile banking. Digital
content such as music, e-books, movies etc. can be downloaded or watched online & payments
can be made using mobile banking. Mobile banking companies can make agreement with digital
content publishers, make payment procedure easier for the customers. Digital content from iTunes,
Netflix, Google Play Store will be accessed more easily accessed by people of our country if this
could be done.

Initiate a Gender Sensitive Approach in Banking Service: As our study shows mobile
banking still has less female customer compared to the male customers. Although financial
inclusion service is targeted at the general population, most services are offered without
understanding women’s socio economic condition & restriction on physical mobility. So banks

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should take a gender sensitive approach towards the female customer. Such as, banks can try to
increase number of female agents, more female sensitive service can be offered.

Provide Financial Literacy Training to Customers: Banks can provide financial literacy
training to the customers easily using mobile banking service.

By analyzing survey data of our study we found that most of the user thinks that the online
payments can be made easier using mobile banking. They also said that mobile banking is growing
rapidly & it has huge prospect in our country.

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4.1 Data Analysis

Gender of the respondent: Most of the respondent ware male and the rest of the respondents are
female.

Frequency Percent Valid Percent

Male 27 90.0 90.0
Female 3 10.0 10.0
Total 30 100.0 100.0
Table 3: Gender of the respondent
Source: Field Survey

Gender

Male, 90%

Male Female

Most of the respondent are male (90%) and rest are female (10%). This result is consistent with
the common belief that the early adaptors of new product are male in most technology market (Lu
et al, 2003)

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Profession: This table shows that most of the respondents are students & service holders.

Cumulative
Frequency Percent Valid Percent Percent
Valid Student 20 66.7 66.7 66.7
Service Holder 7 23.3 23.3 90.0
Freelancer 2 6.7 6.7 96.7
Businessman 1 3.3 3.3 100.0
Total 30 100.0 100.0
Table 4: Profession of the respondents, Source: Field survey

Profession
Businessman, 1
Freelancer, 2

Service Holder, 7

Student, 20

Student Service Holder Freelancer Businessman

From the above chart we can see that mobile banking is used mainly by the students & service
holders.

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Monthly Use Rate of the respondent: Most of the respondent says that they use mobile banking
service below 3 times per month & 12 respondent says they use it 4-7 times per month.

Cumulative
Frequency Percent Valid Percent Percent
Valid Below 3 times 13 43.3 43.3 43.3
4-7 12 40.0 40.0 83.3
8-10 4 13.3 13.3 96.7
11-15 1 3.3 3.3 100.0
Total 30 100.0 100.0

Table 5: Monthly Usage of the respondent

Source: Field Survey

Monthly Usage Rate

14
12
10
8
13
6 12

4
2 4
1
0
Below 3 Times 4-7 times 8-10 Times 11-15 Times

From the above chart we can see most of the user uses mobile banking maximum 7 times per
month. This means they does not use it for day to day transactions.

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Maximum amount of Transaction: Maximum amount of transaction gives an idea about how
much money a single user is transecting via mobile banking account.

Cumulative
Frequency Percent Valid Percent Percent
Valid 1000-5000 7 23.3 23.3 23.3
5000-10000 15 50.0 50.0 73.3
10000-25000 7 23.3 23.3 96.7
25000-50000 1 3.3 3.3 100.0
Total 30 100.0 100.0

Table 6: Maximum amount of transaction made by respondent per month

Source: Field Survey

Maximum Amount Of Transaction Made

16
14
12
10
8
15
6
4
7 7
2
0 1
1000-5000 5000-10000 10000-25000 25000-50000

Frecuency

The above table & chart shows that most of the respondent made maximum transactions in the
range of 5000-10000 tk.

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Agent Location are convenient to home: Most of the respondent agreed that the agent location
is convenient to their home. This is a good sign that mobile banking has reached to its customers.

Cumulative
Frequency Percent Valid Percent Percent
Valid Indifferent 3 10.0 10.0 10.0
Agree 16 53.3 53.3 63.3
Strongly
11 36.7 36.7 100.0
Agree
Total 30 100.0 100.0

Table 7: Agent Location are convenient

Source: Field Survey

Agent Location Are Convenient

Indifferent, 10%

Strongly Agree,
36.70%

Agree, 53.30%

Strongly Disagree Disagree Indifferent Agree Strongly Agree

Among the respondents 53.3% agreed that agent location is convenient to their home, 36.70%
strongly agreed & 3 were indifferent. So we can say that customers are satisfied with agent
location, which is a huge development for mobile banking. The mean score is 4.27 for this question
& median is 4 which also represents the development regarding agent location.

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Mobile Banking saves time: Most of the respondent strongly agreed that mobile banking saves
time. Which is a major point for development of mobile banking.

Cumulative
Frequency Percent Valid Percent Percent
Valid Indifferent 1 3.3 3.3 3.3
Agree 12 40.0 40.0 43.3
Strongly Agree 17 56.7 56.7 100.0
Total 30 100.0 100.0

Table 8: Mobile Banking saves time

Source: Field Survey

17 respondents strongly agreed that mobile banking saves time & 12 also agreed with the statement &
only 1 person was indifferent, no one disagreed with the statement.

MOBILE BANKING SAVES TIME

Indifferent, 1, 3%

Strongly Disagree Disagree Indifferent Agree Strongly Agree

Agree, 12, 40%

Strongly Agree,
17, 57%

From the above data it can be said that mobile banking saves time. The mean is 4.53 & median is
5 which means that mobile banking saves time for its user.

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Mobile banking is convenient to use in day to transactions: Mobile banking is convenient to
use in day to day transaction. Most of the respondents agreed with this statement.

Cumulative
Frequency Percent Valid Percent Percent
Valid Indifferent 5 16.7 16.7 16.7
Agree 16 53.3 53.3 70.0
Strongly Agree 9 30.0 30.0 100.0
Total 30 100.0 100.0

Table 9: Mobile banking is convenient to use in day to transactions

Source: Field survey

3.3% respondents agreed that mobile banking is convenient to use in day to day transaction, 30%
strongly agreed. It is can be said that mobile banking service is developing rapidly.

Mobile banking Is Convinient To Use

Indifferent,
Strongly Agree, 9, 5, 17%
30%

Agree, 16, 53%

Indifferent Agree Strongly Agree

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Transaction Limit does not create any problem: Transaction limit may cause some discomfit
for the users. Most of the respondents says that transaction limit create problem.

Cumulative
Frequency Percent Valid Percent Percent
Valid Strongly Disagree 4 13.3 13.3 13.3
Disagree 12 40.0 40.0 53.3
Indifferent 7 23.3 23.3 76.7
Agree 6 20.0 20.0 96.7
Strongly Agree 1 3.3 3.3 100.0
Total 30 100.0 100.0

Table 10: Transaction Limit does not create any problem

Source: Field Survey

Most of the respondent disagreed that transaction limit does not create any problem. 13.3% of the
respondent strongly disagreed with the statement, 40% disagreed, 23.3% were indifferent, 20 %
agreed & only 3.3% strongly agreed.

Transaction Limit Does Not Create Any Problem

4, 14%
6, 20%

7, 23% 12, 40%

Strongly Disagree Disagree Indifferent Agree Strongly Agree

The mean for this question is 2.6 which means user are indifferent about the transaction limit. But,
most of them feels that it is a problem & it needs to be increased.

Page | 21
Safety of transaction in mobile banking is satisfactory: Safety of transaction is a very important
factor for the development of mobile banking.

Cumulative
Frequency Percent Valid Percent Percent
Valid Strongly Disagree 2 6.7 6.7 6.7
Disagree 4 13.3 13.3 20.0
Indifferent 7 23.3 23.3 43.3
Agree 14 46.7 46.7 90.0
Strongly Agree 3 10.0 10.0 100.0
Total 30 100.0 100.0

Table 11: Safety of transaction in mobile banking

Source: Field Survey

Safety Of Transaction In MObile Banking

3, 10% 2, 7%
7, 23%

Strongly Disagree Disagree Indifferent Agree Strongly Agree

Among the respondents 47% agrees that they are satisfied about safety of transaction mobile
banking, 10% user says they strongly agree about safety, 23% are indifferent, 13% disagreed &
7% strongly disagreed that the safety of transaction is satisfactory. Although most of the
respondent felt that the safety is satisfactory, a majority portion of respondent are not satisfied with
the safety. So the safety measures should be increased. Safety of transaction is very important for
the development of mobile banking.

Page | 22
You get your error free records: Error free records means that, the user get the transaction
confirmation without delay & error.

Cumulative
Frequency Percent Valid Percent Percent
Valid Disagree 6 20.0 20.0 20.0
Indifferent 6 20.0 20.0 40.0
Agree 13 43.3 43.3 83.3
Strongly Agree 5 16.7 16.7 100.0
Total 30 100.0 100.0

Table 12: Error free records

Source: Field Survey

43.3% respondent agreed that they get their error free records & 16.7% strongly agreed on the
statement. Although 20 % respondents disagreed shows that there is room for development in this
area.

User Get Error Free Records

Strongly Agree,
16.70% Disagree, 20%

Indifferent, 20%

Agree, 43.30%

Disagree Indifferent Agree Strongly Agree

For this question mean response is 3.57, which shows users are agreed that they get their error free
records.

Page | 23
You are confident of using mobile banking: User confidence is very important aspect for the
development of mobile banking. When users feel confident about a relatively new technology the
development becomes rapid.

Cumulative
Frequency Percent Valid Percent Percent
Valid Indifferent 8 26.7 26.7 26.7
Agree 16 53.3 53.3 80.0
Strongly Agree 6 20.0 20.0 100.0
Total 30 100.0 100.0

Table 13: User-confidence of using mobile banking

Source: Field Survey

User ConFidence Of Using Mobile Banking

20%
26.70%

53.30%

53.30% users agreed that they are confident of using mobile banking & 26.7% respondents
strongly agreed that they are confident of using mobile banking. This shows that most of the
Bangladeshi users are confident of using mobile banking.

Page | 24
You get promised service from your mobile banking company:

Cumulative
Frequency Percent Valid Percent Percent
Valid Disagree 2 6.7 6.7 6.7
Indifferent 8 26.7 26.7 33.3
Agree 15 50.0 50.0 83.3
Strongly Agree 5 16.7 16.7 100.0
Total 30 100.0 100.0

Table 14: User getting promised service from company

Source: Field Survey

Users Getting Promised Service From Company

16
14
12
10
8
15
6
4 8
2 5
2
0
Disagree Indifferent Agree Strongly Agree

Frequency

Among the respondent 50% are agreed that they get promised service from their bank & 16.7%
strongly agreed whit this statement. 26.7% respondent were indifferent & 6.7% disagreed. Most
of the respondent either agreed or strongly agreed which shows that the service quality is good
from the service provider company.

Page | 25
Reputation of the bank is affected by their mobile banking service:
Cumulative
Frequency Percent Valid Percent Percent
Valid Strongly Disagree 1 3.3 3.3 3.3
Disagree 3 10.0 10.0 13.3
Indifferent 8 26.7 26.7 40.0
Agree 15 50.0 50.0 90.0
Strongly Agree 3 10.0 10.0 100.0
Total 30 100.0 100.0

Table 15: Reputation of the bank is affected by their mobile banking service
Source: Field Survey

Reputation of the Bank Is Affected By Their

Mobile Banking Service

3.30%
10% 10%

26.70%

50%

Strongly Disagree Disagree Indifferent Agree Strongly Agree

Majority portion of the respondent either agreed or strongly agreed that reputation of the banks are
affected by their mobile banking service. 10% respondent disagreed, 10 % strongly disagreed &
3.3% are indifferent. It shows that most of the user think mobile banking operation is very
important for the banks & they should try to provide better service to the users of mobile banking.

Page | 26
Mobile banking transaction fee is high: The cost of transaction is often said to be high for mobile
banking. Sometimes people does not prefer to do transaction via mobile banking due to the high
cost of transaction.

Cumulative
Frequency Percent Valid Percent Percent
Valid Strongly Disagree 1 3.3 3.3 3.3
Disagree 2 6.7 6.7 10.0
Indifferent 4 13.3 13.3 23.3
Agree 7 23.3 23.3 46.7
Strongly Agree 16 53.3 53.3 100.0
Total 30 100.0 100.0

Table 16: High fees of mobile banking, Source: Field survey

High Fees Of Mobile Banking

23.30%

13.30%
76.60%
6.70% 53.30%

3.30%

Strongly Disagree Disagree Indifferent Agree Strongly Agree

76.60% of the respondent feels that transaction fee is high. 13.30% respondent are indifferent,
6.70% disagreed & 3.30 % strongly disagreed. High transaction fees could result in users shifting
towards similar product or alternative product. So mobile banking service providers should try to
take necessary measures to reduce the high transaction fee.

Page | 27
Loss of money due to network malfunction: Network malfunction may cause in loss of money
for the user.

Cumulative
Frequency Percent Valid Percent Percent
Valid Strongly Disagree 3 10.0 10.0 10.0
Disagree 5 16.7 16.7 26.7
Indifferent 8 26.7 26.7 53.3
Agree 8 26.7 26.7 80.0
Strongly Agree 6 20.0 20.0 100.0
Total 30 100.0 100.0

Table 17: Loss of money due to network malfunction

Source: Field Survey

The opinion of the respondents are divided in this matter. 20% strongly agreed & 26.7% agreed
that network malfunction may result in loss of money. Other respondent are indifferent or
disagreed on this matter. Only 10% strongly disagreed, that network malfunction results in loss of
money.

Loss Of Money Due To Network Malfunction

20% 10%
16.70%

26.70%
26.70%

Strongly Disagree Disagree Indifferent Agree Strongly Agree

Although a lot of respondent believe that network malfunction results in loss of money, but it is a
very safe mode of transaction. Mobile banking remains popular among the section which does not
have access to traditional banking system.

Page | 28
Criminals can hack or steal from my bank account if my phone is lost: If user lost his/her
phone, criminals can access accounts or if they lost their password the account can be hacked.

Cumulative
Frequency Percent Valid Percent Percent
Valid Strongly Disagree 1 3.3 3.3 3.3
Disagree 6 20.0 20.0 23.3

Indifferent 5 16.7 16.7 40.0

Agree 14 46.7 46.7 86.7

Strongly Agree 4 13.3 13.3 100.0

Total 30 100.0 100.0

Table 18: Criminals can hack or steal from my bank account if my phone is lost

Source: Field Survey

Almost half of the respondent (46.7%) agreed that bank account can be hacked if phone is lost.
Although mobile banking service provider has strong security. It is difficult to hack or steal from
mobile banking account.

Criminals Can Hack Or Steal From Bank Account

16.70%
46.70%

60%

20%
13.30%

3.30%

Strongly Disagree Disagree Indifferent Agree Strongly Agree

From the above chart we can see 60% of the respondent are agreed that criminals can hack or steal
their money. This shows users lack of trust in the current security system. So mobile banking
service providers should update their security system to earn users trust.

Page | 29
Delay in receiving payments due to technological problem: Sometimes there is a delay in
receiving payments due to technological problem. The users get irritated due to these problems.

Cumulative
Frequency Percent Valid Percent Percent
Valid Disagree 2 6.7 6.7 6.7
Indifferent 4 13.3 13.3 20.0
Agree 16 53.3 53.3 73.3
Strongly Agree 8 26.7 26.7 100.0
Total 30 100.0 100.0

Table 19: Delay in receiving payments due to technological problem

Source: Field survey

Most of the respondent either agreed or strongly agreed with this question. So it can be said that
there is network problem, which results in delay in receiving payments for the users. This is a bad
sign for development of mobile banking. Service provider & mobile banking company should put
attention about this matter.

Delay In Receiving Payents

6.70%

26.70% 13.30%

53.30%

Disagree Indifferent Agree Strongly Agree

Page | 30
There is a fear of losing money due to carelessness or human errors: Money can be lost from
mobile banking account due to carelessness of the user or any kind of human error or error from
the agent.

Cumulative
Frequency Percent Valid Percent Percent
Valid Disagree 4 13.3 13.3 13.3
Indifferent 1 3.3 3.3 16.7
Agree 15 50.0 50.0 66.7
Strongly Agree 10 33.3 33.3 100.0
Total 30 100.0 100.0

Table 20: There is a fear of losing money due to carelessness or human errors

Source: Field Survey

Most of the respondents either agreed or strongly agreed that money can be lost due to carelessness
or human errors. This type of faults happens on the part of user or agents. Though being a little bit
more careful would result in less mistakes.

Loss of Money Due To Human Errors

13.30%
33.30%

50%

Disagree Indifferent Agree Strongly Agree

From the above chart we can see that 83.3% respondents were agreed or strongly agreed on this
question. So it can be said that this occurs more frequently.

Page | 31
Mobile banking is used in criminal activities: Mobile banking is used in criminal activities.
There are reports in recent months that criminals are using mobile banking account in criminal
activities.

Cumulative
Frequency Percent Valid Percent Percent
Valid Strongly Disagree 3 10.0 10.0 10.0
Disagree 2 6.7 6.7 16.7
Indifferent 8 26.7 26.7 43.3
Agree 7 23.3 23.3 66.7
Strongly Agree 10 33.3 33.3 100.0
Total 30 100.0 100.0

Table 21: Mobile banking is used in criminal activities

Source: Field survey

More than half of the respondent agreed or strongly agreed that mobile banking is used in criminal
activities. This is happening due to poor monitoring & reporting of financial activities. Regulators
should tighten regulations & mobile banking company should increase monitoring.

Mobile Banking Is Used In Criminal Activities

26.70%

Strongly Disagree Disagree Indifferent Agree Strongly Agree

Page | 32
Online payments can be made easier using mobile banking: Mobile banking account can be
used in payments made in online. This method of payment is becoming increasingly popular in
our country.

Cumulative
Frequency Percent Valid Percent Percent
Valid Disagree 1 3.3 3.3 3.3
Indifferent 3 10.0 10.0 13.3
Agree 16 53.3 53.3 66.7
Strongly Agree 10 33.3 33.3 100.0
Total 30 100.0 100.0

Table 22: Online payments can be made easier using mobile banking

Source: Field Survey

Most of the respondents said that online payments can be made easier using mobile banking.
Operators should take necessary steps to make online payment method easy for the users.

Online Payments Can Be Made Easier

3.30%

10%
33.30%

53.30%

Disagree Indifferent Agree Strongly Agree

53.3% respondent agreed & 33.30 % strongly agreed that online payments can be made easier
using mobile banking. There is prospect for mobile banking platform to be used in online shopping.
Service providers & banks should introduce direct payment systems for online shopping.

Page | 33
The rural & unprivileged areas can be brought under banking service using mobile banking:
Mobile banking is becoming very popular in the areas where traditional banking service is
unavailable.

Cumulative
Frequency Percent Valid Percent Percent
Valid Strongly Disagree 2 6.7 6.7 6.7
Indifferent 2 6.7 6.7 13.3
Agree 11 36.7 36.7 50.0
Strongly Agree 15 50.0 50.0 100.0
Total 30 100.0 100.0

Table 23: Rural & unprivileged brought under banking service

Source: Field survey

Rural & Unprevilaged Areas Brought Under Banking

Service
7%
7%

50%
36%

Strongly Disagree Indifferent Agree Strongly Agree

Among all respondents 50% strongly agreed & further 36% agreed that the rural & unprivileged
areas can be brought under banking service using mobile banking. Mobile banking is becoming
increasingly popular in the areas where traditional banking service is unavailable & those people
living without traditional banking service are included in financial services through mobile
banking.

Page | 34
Mobile banking is growing rapidly in Bangladesh: Mobile banking is becoming increasingly
popular among people of Bangladesh. It is growing rapidly.

Cumulative
Frequency Percent Valid Percent Percent
Valid Disagree 1 3.3 3.3 3.3
Indifferent 2 6.7 6.7 10.0
Agree 7 23.3 23.3 33.3
Strongly Agree 20 66.7 66.7 100.0
Total 30 100.0 100.0

Table 24: Growth of mobile banking

Source: Survey data

Growth Of Mobile Banking

3% 7%

23%

67%

Disagree Indifferent Agree Strongly Agree

Almost 90% respondents believe that mobile banking is growing rapidly in Bangladesh. Mobile
banking is a relatively new technology in Bangladesh. It is easy to use & less time consuming.
Reaching the rural & unprivileged areas are also a reason for the increasing popularity of mobile
banking.

Page | 35
4.2 Descriptive Statistics

In the questionnaire there are total 23 questions. Respondents were asked to fill the question in
likert scale form ranging from 1 to 5. Where 1 is strongly disagree & 5 means strongly agreed.
Descriptive statistical result of selected few variable are given below:

Name Mean Median Mode Standard Variance

Deviations
Agent 4.27 4.00 4.00 .63968 .409
Location
Time 4.53 5.00 5.00 .57135 .326
Convenience
Transaction 4.13 4.00 4.00 .68145 .464
Limit
Transaction 3.40 4.00 4.00 1.069 1.145
Safety
Error-Free 3.57 4.00 4.00 1.006 1.013
Records
User 3.93 4.00 4.00 .69149 .478
Confidence
Promised 3.76 4.00 4.00 .81720 .668
Service from
bank
Loss due to 3.30 3.00 3.00 1.263 1.597
network
Malfunction
Delay in 4.00 4.00 4.00 .83045 .690
payments
Financial 4.23 4.5 5.00 1.073 1.151
Inclusion
Growth 4.53 5.00 5.00 .77608 .602

Table 25: Descriptive statistics

Source: Field survey

The selected variable gives indication about development of mobile banking & its threats. We can
see the mean for these variable ranging from 3.30 to 4.53 which means the respondents agreed
with most of the questions. The median value for almost all the variables are 4 or 5 which suggest
most of the respondents agreed that about development & safety questionnaires.

Page | 36
4.3 Relationship between Growths of mobile banking & development Options

We will discuss about relationship between growth of mobile banking & the variables classified
as development options.

Model Summary

Adjusted R Std. Error of

Model R R Square Square the Estimate
1 .821 .674 .606 .48687
Table 26: Model Summary

Source: Calculation through SPSS 23

The first table of interest is Model Summary table. This table provides R & R Square values. The
R value shows correlation between the dependent variables & independent variables. The R value
is .821, which means there is a positive correlation between variables & growth of mobile banking
in Bangladesh. The R Square value indicates how much of dependent variable is changed due to
change in independent variables. R Square value is .647, which means 64.7% of the growth of
mobile banking is due to changes in independent variables.

Page | 37
 ANOVA

Sum of
Model Squares df Mean Square F Sig.
1 Regression 11.778 5 2.356 9.937 .000b
Residual 5.689 24 .237
Total 17.467 29
a. Dependent Variable: Growth of Mobile Banking in Bangladesh
b. Predictors: (Constant), Financial Inclusion, Convenience, Transaction Limit,
Location, Time
Table 27: ANOVA
Source: Calculation through SPSS 23
The next table is ANOVA table. This table shows how the regression model predicts outcome
variable significantly well. For this study the significance level is 5%. From the ANOVA table we
can see that table significant value 0.05 is greater than the calculated significance value 0.000. This
means there is a significant relationship between Dependent variables & independent variables.
So, the null hypothesis is accepted.
Coefficients
Unstandardized Standardized
Coefficients Coefficients
Model B Std. Error Beta t Sig.
1 (Constant) .175 .940 .186 .854
Agent Location -.185 .153 -.153 -1.208 .239
Time .473 .189 .348 2.500 .020
Convenience .300 .145 .263 2.063 .050
Transaction Limit .068 .089 .094 .768 .450
Financial
.375 .097 .518 3.861 .001
Inclusion
a. Dependent Variable: Growth
Table 28: Coefficients
Source: Calculation through SPSS 23

Page | 38
The coefficient table gives us information about each independent variable. It also shows us how
each independent variable predicts the dependent variable. Most influential variable is Time which
has a significant relationship with growth of mobile banking, Convenience & Financial inclusion
which has lower calculated significance value than the table significance value of 0.05.

So GMB =.175+ .437T+.300C+.375F.

Here, GMB=Growth of Mobile Banking in Bangladesh

T= Time saving

C= Convenience of using mobile banking

F= Financial Inclusion (Bringing rural & unprivileged areas and unbanked community under
mobile banking)

Confidence Level-95%

If there is 100 percent change in time saving, growth of mobile banking will be changed by 43.7%.
100 percent change in convenience will result in 30% change in growth. Similarly, a 100 percent
change in financial inclusion will result in 37.5% growth.

Page | 39
5.1 Findings of the Study

1. We found that mobile banking is growing rapidly in Bangladesh. Last year it has achieved
a growth of 48.75% in total transaction. We also find that the user has positive perception
about agent location, time saved by mobile banking, safety of the transaction & they are
confident of using mobile banking.
2. We also found that time saving, user convenience & financial inclusion are the factor
affecting the growth of mobile banking in Bangladesh.
3. Most of the responded said that online payments can be made easier using mobile banking.
Different new & innovative products can be launched using mobile banking platform.
Transaction & payments system can be developed.
4. Most of the respondent said that the transaction fee is very high, they also agreed that
money can be lost due to network malfunction, hack or theft, technological problem &
human error. Most respondent is also agreed that criminal are also using mobile banking.

Page | 40
5.2 Conclusion

From the statistical analysis it is observed that, There is positive relationship between Growths of
mobile banking in Bangladesh & Convenient agent location, Time saving, User convenience,
Transaction limit, Bringing rural areas under the coverage of mobile banking as such null
hypothesis is accepted & the alternative hypothesis is rejected. Total 28 banks have approval of
launching mobile banking service in Bangladesh, 19 have launched operation & 17 are providing
service. People are becoming increasingly comfortable using mobile banking service & it is
becoming very popular among people. The total amount of transaction is growing each year.
Mobile banking is seeing rapid growth in our country. The future prospect looks bright. Although,
there are few threats but, by taking corrective measures they can be resolved.

Page | 41
 Bibliography
Reference:

1. Bangladesh Bank (2012). Mobile Financial Services in Bangladesh: An Overview of

Market Development.
2. Board of Governors of the Federal Reserve System (March 2015). Consumers and Mobile
Financial Services 2015.
3. Md. Shahanur Islam (2013). Mobile Banking: An Emerging Issue in Bangladesh. ASA
University Review, Vol. 7 No. 1, January–June, 2013.
4. Md. Tukhrejul Inam, Md. Baharul Islam (2013). POSSIBILITIES AND CHALLENGES
OF MOBILE BANKING: A CASE STUDY IN BANGLADESH. International Journal of
Advanced Computational Engineering and Networking, ISSN: 2320-2106 Volume- 1,
Issue- 3, May-2013. Retrieved from: www.Google.com
5. Md. Akram Hossain, Ph D, Md. Ziaul Haque (2014). Prospects and Challenges of Mobile
Banking in Bangladesh. Journal of Business Studies, Vol. XXXV, No. 2, August 2014.
6. S.M. Sohel Ahmed, Shah Johir Rayhan, Md. Ariful Islam, Samina Mahjabin (2011).
Problems and prospects of mobile banking in Bangladesh. Journal of Information
Engineering and Applications, Vol 1, No.6, 2011.
7. Mohammad Rokibul Kabir (2013), Factors Influencing the Usage of Mobile Banking:
Incident from a Developing Country, World Review of Business Research, Vol. 3. , No. 3.
July 2013 Issue. Pp. 96– 114
 Appendix
Appendix 1: Questionnaire for the Study
Dear Respondent,
I, the student of Department of Banking & Insurance, University of Dhaka, I am going to conduct a survey
entitled “Mobile Banking: Current Development, Prospect & Threats” For this regard your kind cooperation
is highly appreciated.

01. Name:
02. Gender:
03. Profession:

– – -15

-5000 Tk.
- 10000 Tk.
- 25000 Tk
- 50000 Tk
- 100000 Tk
Please put your level of agreement with the following statements ranges from 1-5 scale. In the cell
the abbreviations words mean that SA = Strongly Agree; A = Agree; ID = Indifferent;
DA=Disagree; SDA = Strongly Disagree.

SA(5) A(4) ID(3) DA(2) SDA(1)

06. Agent location are convenient to your home
07. Mobile Banking saves time
08. Mobile banking is convenient to use in day to
day transactions
09. Transaction Limit does not create any problem

10. Safety of transaction in mobile banking is

satisfactory
11. You get your error free records
12. You are confident of using mobile banking
13. You get promised service from your mobile
banking company
14. Reputation of the bank is affected by their
mobile banking service
15. Mobile banking transaction fee is high

16. Network malfunction could result in loss of

money
17. Criminals can hack or steal from my bank
account if my phone is lost
18. There could be a delay in receiving payments
due to network problem or technological
problem
19. There is a fear of losing money due to
carelessness or human errors
20. Mobile banking is used in criminal activities

21. Online payments can be made easier using

mobile banking
22. The rural & unprivileged areas can be brought
under banking service using mobile banking
23. Mobile banking is growing rapidly in
Bangladesh

Thank You