The Role of Compliance in Building Brand Trust – A Case Study on bKash

Abstract

The Mobile Financial Services (MFS) sector in Bangladesh has experienced remarkable growth in recent years, with leading companies such as bKash Limited at the forefront. Ensuring compliance within the MFS sector is crucial for building trust, as it shows a commitment to ethical practices and adherence to legal standards. This report aims to explore the role of compliance in building trust for bKash and its impact on customers' trust. This report consists of six chapters: Introduction, Company and Industry Profile, Methodology, Analysis and Findings, Internship Experience, and Conclusion and Key Facts. This descriptive research utilized primary data gathered through questionnaire surveys of 110 bKash customers and key personnel from the Compliance, Risk Management, and Marketing departments. The study revealed that most respondents consider compliance to be a vital factor in establishing and maintaining trust, and it is closely related to customer retention. Furthermore, the findings suggest that incorporating compliance elements into marketing has a positive impact on brand perception. Based on analysis and findings, some recommendations have been suggested. The major suggestions are that bKash could consider improving its communication with customers and partners regarding specific compliance measures and regulations. It can also arrange regular audits to ensure that all compliance practices are up-to-date and effective. Conducting more frequent audits and reviews of compliance-related processes could help bKash identify potential areas for improvement.