The Present Scenario of Internet Banking in Bangladesh: Problems, Prospects & Recommendations

Abstract

From the ancient period to the present day the functions of banking have changed a lot. Banking is now more developed than ever with enhanced modern technologies. Internet Banking (IB) also known as Electronic Banking (E-Banking) is the latest branch of banking which is aiding the banking activities for customers. The concept of internet banking is not yet familiar to all the people of Bangladesh but its popularity is ever growing. This report tries to extract the present scenario of Internet banking in Bangladesh. Despite having some risks associated with internet banking it has bright prospects. With proper actions taken, this would be one of the biggest sectors of finance one day. Many successful foreign and local banks have already got their hands on the right measures. Among many other banks The City Bank Ltd. has developed an advanced IB platform for its customers. They had developed an android app and website called Citytouch with the highest customer satisfaction rate. This paper would further present a detailed analysis of all the statements on internet banking of Bangladesh.