| dc.description.abstract | The primary objective of this internship report is to gain insights into the current banking operations in Bangladesh. This entails identifying forthcoming challenges and opportunities that may arise. Additionally, the report aims to pinpoint existing issues currently being encountered within the banking sector. Consequently, this report holds significance in offering potential solutions to address these challenges. Ultimately, the report is valuable for stakeholders with ties to the banking industry.
In this report, I used qualitative methodology for analysis. I utilize qualitative research techniques, specifically semi-structured interviews, to delve into and comprehend the intricacies of contemporary banking. It is important to note that this research also acknowledges the significance of qualitative data and secondary sources within the research process.
This internship report introduces a fresh perspective on the complex landscape of modern banking operations, with a specific focus on the context of Bangladesh. It integrates information from diverse sources to provide a comprehensive portrayal of the emerging challenges encountered by banks in today's intricate financial environment.
In this internship report, we aim to unravel the intricacies inherent in general banking operations. Our exploration encompasses various divisions within the bank, and in particular, we shed light on the challenges encountered within the Card Division. These complexities encompass issues such as information update delays, card acceptance concerns, credit limit management, omission of card closing fees, security apprehensions, and customer service related problems.
The customer service challenges encompass slow response times, understaffing issues, ineffective communication, convoluted processes, inefficient complaint resolution, subpar services, unclear fee structures, account discrepancies, outdated technology, and complications related to foreign currency and cash transactions. Inadequate staffing often leads to overcrowding and extended wait times, while poor communication can result in
customer confusion regarding policy changes or service disruptions.
To address these complexities, it is imperative for Bangladesh Bank to offer services like Real-Time Gross Settlement (RTGS), seamless fund transfers, and efficient cash handling.
Additionally, addressing server-related problems, such as delays and errors in cash handling and cash card verification, is crucial.
Solutions to the issues faced within the Card Division involve incorporating user-friendly features into mobile apps and ensuring transparent communication of card specifications and credit limits to customers. Investing in cutting-edge security technologies like Multi-Factor Authentication (MFA), biometric authentication (facial recognition or fingerprints), and behavioral analytics can fortify consumer account security.
Furthermore, to combat known vulnerabilities, banks should regularly update their software and apps with the latest security patches and establish close collaborative ties with law enforcement agencies to tackle cybercrime.
To enhance customer service, improvements can be made by enhancing the Customer Relationship Management (CRM) system, bolstering call center capabilities, expanding the workforce with highly qualified personnel, and implementing cross-training programs to address staff shortages due to vacations. Digitalization and standardization are essential measures to streamline banking procedures and mitigate complexity. Banks should also provide online tutorials and video guides on their websites and mobile apps to facilitate customer understanding and engagement. | en_US |
