Portable Bank Advantages and Disadvantages


Portable Banking is a keeping money take care of without bank office gives monetary administrations to unbanked groupings effectively and at reasonable cost. To provide managing a merchant account and money related administrations through flexible innovation gizmos i. e. lightweight or cellphone called Mobile Banking. Versatile saving cash (otherwise called M-Banking, or Text Bank) is a term applied for performing parity checks, bill exchanges, installments, credit applications and other saving cash exchange through a cellular phone, for example, cell phone. The framework includes to pull again cash as well concerning exchange cash in the brief span. This can be led through the web program on the telephone, through an application downloaded from the lender, or by short-informing administration (SMS). Clients when they have cell phone and are enrolled because of this can benefit taking care of an account advantage through utilizing it. Versatile Bank has extended portability in the keeping money business and it spares time and cost of the customers and lender. The soonest lightweight managing a merchant account administrations were offered by means of Text message. Versatile Bank alludes to an design and infirmity of saving money and budgetary administrations with the assistance of portable media transmitting gadgets

Objective of the mobile banking

Versatile Banking is a saving money handle without bank office gives monetary administrations to unbanked groupings proficiently with moderate cost. To provide managing a merchant account and money related administrations through adaptable innovation devices i. e. lightweight or PDA called Mobile Bank. Portable saving cash (otherwise called M-Banking, or Text message Banking) is a term used for accomplishing equalization checks, bill exchanges, installments, credit applications and other saving money exchange by using a cellular phone, for example, cell phone. The framework comprises to pull back again cash as well concerning exchange cash in the brief timeframe. This can be directed through the net program on the telephone, through a program downloaded from the lender, or by short-informing supervision (Text message). Clients on the off chance that they have mobile phone and are enlisted because of this can benefit saving cash benefit through utilizing it. Versatile Bank has broadened portability in the keeping money business and it spares time and cost of the clients and bank. Essentially the most punctual portable managing an account administrations were offered through SMS. Portable Banking alludes with an arrangement and disease of saving money and budgetary administrations with the assistance of versatile media transmission gadgets

List of mobile Bank:


Bank Name

Product Name


Dutch Bangla loan company limited (DBBL)



BRAC loan company limited



Prime loan provider limited

Easy cash


Islamic loan provider Bangladesh limited



Trust bank

Mobile money


National credit and commerce bank limited

Sure cash


Bank Asia limited

Mobile banking


Dhaka bank

SMS banking


Mercantile bank

my cash


AB bank

SMS banking


South east bank

SMS banking


First security Islamic bank

Sure cash


Bangladesh business bank

Sure cash


United commercial bank



One lender limited


Trends in mobile banking:

Versatile Banking is a keeping money make without bank office which gives budgetary administrations to unbanked organizations productively and at moderate cost. To give managing an account and economic administrations through portable innovation gadgets i. e. portable or cordless called Mobile Banking. Versatile managing a merchant account (otherwise called M-Banking, or SMS Banking) is a term utilized for undertaking equalization checks, account exchanges, installments, credit applications and other saving money exchange through a cellular phone, for example, cell phone. The framework comprises to pull back cash as well as to exchange cash inside a brief span. This can be led through the net program on the telephone, through an application downloaded from the lender, or by short-informing administration (Text message). Clients on the off chance that they have cellphone and are enrolled for this will benefit keeping money benefit throughOver the most recent couple of years, the lightweight and remote control market has been one of the quickest growing markets on the planet and it is as yet growing at a fast pace. According to the GSM Association and Ovum, the quantity of functional endorsers surpassed 2 billion in Sept 2005, and today surpasses 2. 5 billion (which more than 2 billion are GSM).

As per a review by monetary consultancy Client, 35% of internet keeping money individuals will utilize flexible managing a merchant account by 2010, up from under 1% today. Upwards of 70% of standard bank focus call size is expected to originate from cell phones. Portable saving money will in the long run allow clients to make installments at the physical reason for offer. "Versatile contact less installments" will reach less market by 2010. Another review from 2010 by Berg Perception figures that the amount of portable keeping money clients in america will develop from 12 million in '09 2009 to 86 million in 2015. An identical review similarly predicts that the Western market will establish from 7 million versatile taking care of an account clients in '09 2009 to 115 million clients in 2015.

Many trust that portable clients have quite lately begun to completely use the info capacities in their mobile phones. In Asian countries like India, China, Bangladesh, Indonesia and Philippines, where versatile foundation is nearly superior to the settled series framework, and in European nations, where cell phone entry is high (a minimum of 80% of buyers utilize a cellular phone), portable controlling an account is probably going to offer a lot more.

utilizing it. Versatile Banking has widened portability in the managing a merchant account business and it spares time and cost of the customers and bank. By far the most punctual portable saving money administrations were offered by means of Text message. Versatile Banking alludes to an set up and sickness of keeping money and economic administrations with the help of portable media transmission gadgets

Classify mobile banking based on the nature of the service:

Exchange based mostly administrations, for example, an possessions exchange or a costs installment, include development of resources you start with one source then onto the next. o Inquiry-based administrations don't. They basically require a response to a customer inquiry. The format beneath abridges these different sorts of versatile managing an account administrations:



  • Funds transfer
  • Bill payment
  • Share trade
  • Check order



  • Minimum balance alert
  • Credit/debit alert
  • Bill payment alert
  • Account balance inquiry
  • Account declaration inquiry
  • Check position inquiry
  • Transaction history

Obviously, press exchanges aren't as perplexing as their force partners. Lightweight keeping money plans additionally change in their level of many-sided quality, plus some lone offer a tiny amount of the administrations you'll discover in a blocks and-mortar branch. In this regard, versatile keeping money isn't generally full supervision managing an account. The variables that impact this are the kind of telephone being used, the administration plan of the flexible endorser and the development system of the lender. Weёll have a gander at these improvements next.

History of Mobile Bank in Bangladesh

Late advancements have significantly fine-tuned the saving cash scene and evolved the connections amidst bankers and their clients. This is so that it is more bothersome for banks to hold resources, secure new stores, strategically pitch items or get new clients.

Clients are attempting to stay fundamentally associated using their records, however that is travelling up the cost to supervision them.

Be that as it might, conventional association programs, including most lightweight saving money preparations, are customer reactiveё. Whether or not they have an enquiry or require gain, clients must start contact with the lender.

"Dutch-Bangla Bank Limited" (DBBL) has interestingly presented its lightweight managing an account benefit extending the saving cash benefit from urban communities to remote ranges. Bangladesh Bank or investment company Governor Atiur Rahman initiated the administration by keeping Tk 2, 000 and pulling back Tk 1, 500 through Banglalink and Citycell adaptable systems in Motijheel range. Bangladesh Bank has as of now permitted 10 finance institutions to start lightweight managing a merchant account. Of these DBBL commenced first. " Mobile managing an account is a contrasting option to the customary keeping money through which saving money administration can be come to at the doorsteps of the rejected segment of everyone, " the nationwide loan provider senator said at an inaugural.

squeeze instructions at Hotel Purbani. Atiur Rahman said through portable saving cash different keeping money administrations including storing and pulling again cash, installment of service bills and achieving settlement deal to the beneficiary would be conceivable. By leaving to the DBBL-endorsed Citycell and Banglalink providers all through the nation the supporters on demonstrating essential paperwork and installment of an fee of Tk 10 can open an archive. To benefit of the managing an account supervision an endorser will demand owning a PDA of any provider and he will get a four-digit PIN. By utilizing the PIN he can work an array of managing a merchant account administrations including storing and pulling back cash keeping up security and puzzle of his record. The client will give money to the specialist and the operator begins the exchange from his cell phone, the operator will assist the record holder with doing the keeping money utilizing his PIN. A customer can store or move back cash five times everyday and they can store or sketch Tk 5, 000 every day. One percent of the exchange record or Tk 5, whichever is higher, will be studied as trade out charges. If there should be an event of money out the fee will be 2 percent of the exchange amount or Tk 10. Be that as it might, the enrollment expense, compensation and arrangement dispensing administrations will be without given of cost.

"BRAC Bank Small" is set to present functional keeping money also, a top authority said the supervision will empower a sizable number of maintained an account and unbanked individuals to store, take back and exchange cash through cell phones. BKash, a joint wander between BRAC Bank and US-based Profit Motion, gives versatile managing an account a totally encoded VISA advancement stage for exchanges through cell phones. Any portable consumer can enlist and start a bKash record and after that do exchanges through their mobile phones in simple, helpful and trustworthy way. "bKash will in an over-all sense change the way individuals now do exchanges, as all exchanges will be conceivable through mobile phones in future, " said Syed Mahbubur Rahman, overseeing professional of the bank. "Clients won't have to visit the bank; somewhat the bank will go to them, " he said at a question and answer time in Dhaka on the function of its tenth establishing commemoration. The bank said a bKash record will start as a computerized lightweight wallet and anyone can take the supervision. "Your cellphone will become your finances. Clients can get money related administrations through telephones, even by the handset that expenditures the most reduced, " Rahman said. Under a link with UNDP and MUNICIPALITY Department, bKash is removing versatile keeping profit 4, 501 union parishads in the nation. bKash has effectively proclaimed an agreement with a primary versatile administrator and is also in chats with others to enable every portable client - at the moment around 7. 5 crore - to acquire specific advanced wallets, said Mamdudur Rashid, delegate overseeing chief of the lender. BRAC Lender propelled its procedure 10 years back again with the goal of having unbanked individuals under formal saving money scope. The program of action of the lender is to put together stores from metropolitan ranges and dispense it to provincial zones. The nation's most youthful bank has officially establish a few data: it has gained more than 12 lakh clients, conveying full handling a merchant account administrations to little and medium ventures, as well as all strata of the saving cash industry, said the lender "Being the most more youthful Bangladeshi bank, we have developed as the biggest SME bank portion around 3. 65 lakh business visionaries at grassroots level, an achievement that helped worldwide acknowledgment for this Bangladeshi lender, " said Rashid The lender places stock in 3P theory - individuals, globe and profit and has been energetic in Green keeping money. It offers officially flipped 22 of its SME Product Offices sun run fueled and programs to improve over the others in a similar way by 2012

Advantages of Mobile Bank

Individuals utilize flexible saving cash as on the lands that Mobile keeping money offers many points of interest, for example, great security, simple get to and considerable applications for advanced cells. , innovator of Javelin Strategy and Research in Pleasanton, Calif. "You don't have Internet organizations wherever you go. Regardless, one does have a portable association. Utilizing lightweight managing a merchant account people can check even more effortlessly record adjust from anyplace these are with any minute.

  • The drawback is the fact versatile saving money isn't tantamount to maybe it's. The reason, many administrations are really fundamental. Individuals apply it to check on adjusts and display funds. Generally, it's an expand to the Internet. Reduce cost of touch & service: realize incredible cost savings by deferring expenses from contact centers or IVRs to the more cost-effective mobile channel.
  • Maximize trust & customer retention: increase devotion giving customers unprecedented control over their accounts, billing and overall financial health.
  • Drive cross-sell opportunities: deliver cross-sell marketing emails to customers easily and inexpensively via proactive, actionable notifications.
  • Lower total cost of possession: utilize Mobile across multiple lines of business at the lender (retail, general/treasury, greeting card services, etc. )
  • Expand traditional online banking: offer more services by integrating Mobile into existing online banking systems, like the Portal solutions and other 3rd party applications.

Disadvantages of Mobile Banking


Security specialists for the most part concur that adaptable keeping money is more secure than PC saving cash on the lands that not so many microbe infections and Trojans are present for telephones. That will not mean portable keeping money is safe to security risks, in any case.

Portable clients are specifically powerless to a phishing-like strategy called "smishing. " It happens whenever a adaptable keeping money consumer gets a false instant message requesting ledger sights from a programmer acting just like a budgetary foundation. A lot of people have succumbed to the trap and possessed cash taken through this strategy.

Web based taking care of an account is normally done via an encoded relationship with the goal that developers can't read transmitted information, yet consider the results if your mobile phone is taken. While all keeping money applications oblige one to enter a key phrase or PIN, many individuals design their cell phones to spare passwords, or utilize uncertain passwords and PINs that are anything but difficult to figure.


We require a sophisticated cell to get the most out of versatile keeping money. Versatile saving cash is not accessible on each gadget. A few banking institutions don't give flexible saving money at all. Others oblige you to train on a custom versatile controlling an account software just accessible on the most widespread advanced skin cells, for example, the Iphone and RIM Blackberry. Outsider lightweight managing an account development is not generally upheld.

In the function you do not have a PDA, the types of portable keeping money you can do are usually constrained. Verifying financial balance equalization through instant communication is no problem, but instead more propelled components, for example, consideration exchanges are for the most part not accessible to clients of "stupid telephones. "


The cost of functional saving cash won't not seem noteworthy on the off chance that you as of this moment have a perfect gadget, however despite all you have to pay information and content informing charges. Some budgetary institutions charge yet another expense for portable managing an account administration, and you'll need to pay an expense for coding. These additional energizes rapidly include, especially on the off chance that you get to versatile managing an account.

Prospect of Mobile Banking in Bangladesh

Portable Bank is an operation of no branch saving money which gives budgetary administrations to unbanked groupings in both metropolitan and country region at average cost. The idea of the administration is not to wreck branch keeping money but instead to bring those individuals under the umbrella of taking care of an account supervision that are far from saving money offices. Authorities supposes it has an extraordinary potential customer as it is another innovation in computerized Bangladesh. Through M-saving money you can turn a profit different administrations i. e. ; service charge installment, Fund Copy, Shopping, Cash Withdrawn from chose ATM or Cash point and numerous all the more energizing offices. Be that as it may, in Bangladesh a lot of people think generally, on the grounds that they can not think it includes any office to usage of portable managing an account.

SWOT Evaluation of mobile Banking

To uncover the suitability of a specific item we might play out a SWOT Examination of that. This will break down the Strengths, Weaknesses, Opportunities and Problems of the specific item. For dissecting the execution of Mobile Banking in Bangladesh the SWOT Research is known as.


Portable Banking is new in our economy. Just a couple banks are currently offering this administration. Through Internet Banking Most of the banks are putting forth just change data. Real store exchange and reserve repayment is impractical in every one of the banks that are placing forth web saving cash administrations. So this item will appreciate the benefit of a first mover.

It is shabby both for the finance institutions and the customers. The bank will have the capacity to let down the overhead expenditures and make more benefit from it. The clients will have the capacity to free time and in addition cash for their exchange needs. Lightweight Banking an Appearing Issue in Bangladesh 125. Numerous destitute individuals as of now have admittance to mobile phones. A confident part of cell phones is that lightweight systems can perform remote ranges very easily. The poor frequently have more prominent nature and trust with cellular phone organizations.


The platform will have an issue with the distinguishing proof the person who's starting the exchange. In Bangladesh, the recognizable proof an individual is not yet bolstered carefully. So there might be an issue in moving toward versatile keeping money time.


Non-branch managing a merchant account is getting to be distinctly mainstream in our nation. Many banking companies are currently offering non branch saving money offices. A guy can pull again or store cash in any branch of the bank he has bank account with. So moving to portable managing a merchant account will permit the banks to provide non-branch keeping money offices. Cell phone is turning out to be extremely regular to us. So an supervision offered through the cellphone will be generally recognized eventually.


Individuals have worry about security and protection. They get a kick out of the chance to feel their cash using their hand. They really don't have faith in virtual cash exchange. Encourage steadily a lightweight handset might not effortlessly be worked well to cope with saving cash exchanges as a huge portion of our kin don't have sound mechanical information. In neuro-scientific IT new advancement is coming regular. One that is exceptionally well known today may get outdated tomorrow. In this way, with an aggressive edge within the contenders the bankers should dependably recharge their administrations. Regardless, the test is to make mindfulness and make it realistic to potential customers.

Features/Mobile Bank Services (GENERALLY):

Mobile banking may offer services like the following:

  • Account Information:
  • Mini-statements and checking of bank account history
  • Alerts on account activity or passing of place thresholds ЇЖЛ
  • Monitoring of term deposits
  • Access to loan statements
  • Access to credit card statements
  • Mutual money / equity statements
  • Insurance plan management
  • Pension plan management
  • Payment, Debris, Withdrawals & Exchanges:
  • Domestic and international fund transfers Micro-payment handling
  • Mobile recharging
  • Commercial repayment processing
  • Bill payment processing A specific series of SMS announcements will enable the system to confirm if your client has sufficient money in his or her finances and authorize a deposit or withdrawal exchange at the agent. When depositing money, the product owner obtains cash and the machine credits the client's bank account or mobile finances. Just as the client can also withdraw money at the merchant: through exchanging text message to provide authorization, the merchant hands your client cash and debits the merchant's bill.

3) Investments:

  • Portfolio management services
  • Real-time stock quotes
  • Personalized alerts and notifications on security prices

4) Support:

  • Status of requests for credit, including home loan approval, and insurance coverage
  • Check (cheque) publication and credit card requests
  • Exchange of data announcements and email, including complaint distribution and tracking

5) Content Services:

  • General information such as weather revisions, news
  • Loyalty-related offers
  • Location-based services

Based on the survey conducted by Forrester, mobile banking will be attractive mainly to younger, more "tech-savvy" customer section. Another of cellular phone users say that they may consider performing some type of financial transfer through their mobile phone. But almost all of the users are enthusiastic about performing basic trades such as querying for account balance and making charge payment.

Mobile banking will save you cost and time:

The the greater part of your members contended that since lightweight managing a merchant account can be an ongoing on-line keeping money gain, it is obtainable at whatever time, anyplace during the nation. So that it can free one's opportunity. Individuals have not to hold up by left over in an extended line so that it requires less investment than the customary keeping money. For example, one of the members Khalid Hasan (a University or college understudy) recognized the associated:

"I am a constant client of functional saving money. I live outside of my home for analysis. Presently I could get cash from my family at whatever point I want. Beforehand whatever the possibility which i required it on crisis premise however it required some investment to achieve the cash if you ask me. Presently as it happens to be so natural to get the money quickly when it is pressing. "

Same contention we found from the majority of the members. For example, Johra Khatun (a tea stallowner) says that beforehand it was truly extremely intense to send cash to her dad and family in the city yet now with the help of versatile managing a merchant account she can do that at whatever point she need and furthermore spare cash. Fatema Begum (an articles of clothing laborer) says that

"Before I utilize functional saving money I experienced difficulty in sending cash to my town to bolster my individuals and little girl who may have been living with her grandparents since I acquired separated 5years prior. Presently I can send cash to them without bother. "

Ease useful:

Portable keeping money framework is anything but difficult to utilize. Needy folks are regularly not considered significant clients by the formal monetary portion as their exchange sizes are little, and many are in remote zones past the scope of finance institutions branch systems. Casual keeping money administrations, for example, microfinance and town money and credit affiliations stay constrained in their compass. Along these lines, flexible saving money framework creates to bring needy individuals into keeping money platform. Along these lines versatile saving money helps 'financial incorporation' which is another exploration theme for creative experts. For example, our associates JohraKhatun say:

"I run a caf and send cash to my dad in the city in consistently. My father has no wellspring of salary and no ledger, the lightweight cash exchange platform is a help for him. Versatile keeping money has taken us under the handling a merchant account administrations. With the assistance of this, destitute individuals like us have the chance to get the controlling an account office buildings even more effectively. "

Socio-economic development:

Portable saving cash helps a ton in increasing the portability of cash. With the help of this administration saving cash office has come to the remote territories of the nation. Country individuals are getting arrangement so effortlessly without take the time and can utilize that cash rapidly for their work. It can help a considerable solution for the improvement of financial state of the general human population of Bangladesh. For instance, it lessens neediness by diverting the cash exchange swiftly and advantageously. Fatema Begum (an articles of clothing specialist) says:

"I work in a bits of clothing manufacturing plant. Presently a-days the greater part of the manufacturing facility pays compensation to their laborers through versatile managing a merchant account and for that they can send that cash immediately with their family moving into towns and they can utilize that cash immediately. They are able to spare that cash in their own particular versatile saving cash account. Already whenever we acquired our pay near by there was an possibility to utilize that cash superfluously yet now we can spare and as it happens to be so natural. "

Problems in Mobile Banking up to now:

A portion of the respondents surmise that there are a few problems with versatile saving money. Security has been one of the major basic focuses for versatile saving money. Matter has dependably been communicated by different companions with respect to security of the framework. For instance, one of our participants contended that he confronted a few problems while utilizing versatile handling a merchant account administrations. For example, he can't revive his mobile phone of other lightweight administrators by utilizing his own versatile keeping money bill. So he needs yet another record which he supposes cumbersome. Another concern is one can't yank again under 500 tk from operators. One can't send or have more than 30, 000 tk per day or on the off chance that they get that incredible sum it doesn't know the specialists can provide that quite somewhat of cash quickly. There is certainly likewise an chance to be trailed by individuals when you should come back with an enormous measure of cash from the operator and this may result in one's life under extreme danger of commandeering. Another member contended that certain can't exchange cash starting with one administrator then onto another administrator. One requires a similar record to send or get cash. He moreover conceives that lightweight managing an account is definitely an concern for uneducated one and moreover for the overall population who does not have their own particular record. Some of our associates trust that there is a shot of duping by imitation back again rubs. Individuals send imitation back rub that you have got gotten a few amounts in your record nevertheless, you have not obtained that and make contact with one to send that cash. Anyone can be considered a casualty of this trick. In the specialists perspective they trust that the percentage they are getting is nearly no and this should be extended considerably by the administrator banking institutions. A few operators trust that the bank ought to build the commission for the specialist with the target that they can take this as their key business.


It has been expounded that the selection and utilization of mobile phones is consequence of a social method, inserted in cultural practice. Nowadays a great many tenants of Bangladesh are in the system through lightweight system opportunity. M-saving money invention, the most recent era of electric managing a merchant account exchanges has ended up being a standout among the most recognizable keeping money highlights, opened up new home window of chance to the current banking institutions and budgetary foundations. So in the business segments like managing a merchant account, m-keeping money advancement will get saving money offices hand's keep which will make life less demanding, vigorous and adaptable. It is a pressing need to set approaches and steps to switch slots regarding administrative and reputable issues.

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