Prospects and Challenges of Mobile Banking in Bangladesh

Md. Akram Hossain, Md. Ziaul Haque


Mobile banking is a subset of electronic banking which underlies not only
the determinants of the banking business but also the special conditions of mobile
commerce. Mobile banking (m-banking) is one of the emerging financial
innovations introduced by financial service providers. This study evaluates the
customer’s perspective of the adoption of m-banking in Bangladesh. Questionnaires
were administered to customers of banks to obtain their perspective on m-banking.
A sample of 50 customers selected at random was employed for this study. The
customer’s perception was found to be overwhelmingly positive. The most
appreciated feature was ubiquity and the overview over bank account. Fast reaction
to market developments often cited as one of the most attractive feature of mobile
banking did not find high appreciation. Several factors including technical and
security standards, regulatory and supervisory issues and business and legal issues
were found to be the main factors that might hinder mobile banking implementation
in Bangladesh. Connectivity and secure communication platform and encrypted
messaging system were found to be the factors that would enhance mobile banking
implementation in Bangladesh.


m-banking, e-banking, short message service (SMS), M-Pin, IT, PIN, ATM

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