Marketing MIX of DBBL Card Products (Credit)

1.0 Introduction: Cash Continues to be the predominantly used medium of transactions in Bangladesh. Bangladesh Bank makes efforts to satisfy transaction demand for currency through a steady flow of currency notes and coins satisfying the demands of the market. Cheque system is another payment system at the national level. Cheques and payment orders drawn on commercial banks are widely used by the industrial and commercial sector.

1.1 statement of the problem: Apart from non-cash payment instruments like cheques, drafts etc. Card based payments, which include Credit Card, debit Card and ATM transactions are gaining popularity gradually. The commercial banks and the business community are trying to promote the use of Credit and debit cards for point of sale transactions and direct debits. The use of such payment instruments, however, is popular in the urban areas only and the volume of such transactions is yet to reach a significant level .The volume and value of cheques have grown steadily over the years. The payment system is the key elements of the financial infrastructure that enhance the effectively and efficiency of performing the financial institutions. Under Article 26 of the Bangladesh Bank Order, 1972 Bangladesh Bank through its Department of Currency Management & Payment Systems performs core functions relating to issuance of notes and coins and management of currencies in circulation.

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1.2 Purpose of the study: The purpose of this paper is to present exploratory research into the holding and usage of credit cards by a distinct segment of the DBBL, who are early adopters of this product through analyzing the Marketing mix of DBBL card products. Competitive analysis which enhance the acceptability of card products. The study better products benefits and feature the DBBL provided rather than its Competitors, the report concludes with a few recommendations to improve the competitive positioning towards different action plans in response of different product positioning strategy of DBBL card products.

1.3 Research Question: The research probes for these questions in abreast with the purpose: 1. Is there more advantages with credit payments, than with cash? 2. Is it more convenient to use credit card payment, rather than cash? 3. Using a credit card means that you do not have to worry about taking too much cash with you? 4. Is it necessary to have a credit card with you when you travel overseas? 5. Is it safer to use credit cards payment compared to cash payment? 6. Is it easier to control my expenditure when I use cash? 7. The usage of a credit card would encourage people to buy things beyond their budget? 8. Do you think when People come across difficulties frequently when they use credit cards? 9. Is it too complicated to use a credit card? 10. Why the reason most people adopt the credit card is that it makes them feel cool and fashionable? 11. Do you think paying by credit card makes people feel important and wealthy? 12. Do you use a credit card regularly?

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13. Do you occasionally use a credit card? 14. Do you rarely use a credit card? 15. Do you have ever had a credit card? 16. Have you ever cancelled any of your credit cards? 17. Are you thinking of applying for a new credit card? 18. Are you planning to get a credit card within the next six months?

2.0 Methodology

2.1 Research Design: This report gathers secondary data and secondary information. the secondary informations and secondary data were not adequate this report produced a survey collecting primary data which developed through questionnaire ( Both Open ended and close ended) as well as qualatitative research.

2.2 Research Instruments: This report conducts the finding analysis technique to come to a conclusion. Exploratory study has been selected to collect data of DBBL-NEXUS VISA Electron card (debit). 2.3 Data collection procedure: Data which are used in this report were collected from the Report of DBBL, Internet, Journal, Asking Questionnaire, Article, Company Study reports, Brochures, Information should always be gathered from the "Best Qualified Source" - this is generally someone from the organization itself. 2.4 Data analysis procedure

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As it is descriptive study, descriptive statistical tools like bar graph, pie chart etc. are used here.

2.5 Sampling method However, to understand the demand condition, questionnaire survey is done to the customers. Here, a convenience sampling is done to this research. Non-probability sampling is done because there is no sample framework for the selections. Survey is done only to the Dhaka city DBBL Credit Card customers. Here 100 customers are chosen from the Dhaka city. These customers are getting credit card of DBBL in this research.

2.5 Limitations of the study

Even though the writers work as their best to exclude unclear, wrong, and inappropriate from the analyzing data, there be a higher chance of getting biased findings than analyzing the data straight collected from the at random selected employees involved into the newly privatized firms. As with the findings reported in any study, the findings reported here may be limited to the population and/or type of product investigated in our research. Another limitation is that although this study tried to explore some selected variables only for the researchers ease. Some other variable could be included, such as employees perceptions of occupational stress, job satisfactions etc.

3.0 Review of Related Literature

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A wider view of customers adoption of banking channels in Hong Kong, including the use of ATMs, is given by Wan et al. (2005). In terms of overall usage the research found that the ATMs were the most popular, with 40 percent average usage across the four banking services (including paying credit card bills), with the internet and branches together at just under 20 percent and telephone banking very much in the minority. The Wan et al. (2005) study showed is that while the adoption of ATMs and internet banking can be associated with a rational pattern of beliefs among customers, Laforet and Li (2005), who comment on the current cash-centric culture of Chinese consumers, Based on the culture analysis from previous studies (Chimezie et al., 1993; Muhlbracher et al., 1999) it is claimed that Chinese consumers tend to have strong uncertainty avoidance and hence the lack of regulation in China is inhibiting the adoption of online banking. A more strategic view of investment in internet banking by Chinese banks, Research by Lowe and Corkindale (1998) focused on a cross cultural study between Australian and mainland Chinese to examine their differences in cultural values and the effect of these on response to marketing stimuli. (Hsu, 1970). Yang (1989) argues that it is very important for Chinese to maintain harmony, face and social acceptance and to avoid embarrassment, conflict, rejection, ridicule and retaliation in a social situation. Worthington (2003, 2005a) has researched the Chinese payment card market in general and the case study of credit cards in China in particular. Willis and Worthington (2006) have researched the degree to which credit cards should be adapted or standardized to meet the needs of Chinese consumers. Lu (2004) has researched the segmentation of credit cardholders in the urban areas of China and concluded that there were significant differences existing between card holders, (1999).

4.0 Overview of the credit card Industry

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The current banking system in Bangladesh requires continuous adjustment and adaptation to keep synchronization with the Global business economy. It is sure by observing the increasing

number of customers in some commercial banks even as others are losing them. Bangladesh is a country of more than 150 million people; we dont have any other options to follow the style. It really difficult to achieve success for our country. It fails to meet the satisfaction both the

customers and the bank and traders same at a glance. Electronic banking solves the problem vastly. It helps to increase foreign trade/remittance and foreign investment. Dutch-Bangla Bank Limited's (DBBL) focus is not purely business. The state of the art online banking system mingles with DBBL's care for the under privileged of the society and DBBL's contribution as a corporate citizen towards the corporate social responsibility (CSR) to the people of the country makes us a unique bank in Bangladesh.

4.1 DBBL in card industry as issuer: From August 2004 DBBL starts its card operation at the very beginning DBBL has issued only DBBL NEXUS classic (debit) cards only to their regular account holders. Now they have over 150,000 + cards in the hands of the customers. The current scenario is the total card market size (approx.) in Bangladesh is 7 lac. Apart of this DBBL is having more than 20% market share with 150,000+ DBBL NEXUS cards. .

4.1.1 Classification of DBBL card: 1. DBBL NEXUS Classic Card (debit)

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2. DBBL NEXUS Maestro card (debit) 3. DBBL NEXUS VISA Electron card (debit 4. DBBL NEXUS Silver OD card (credit) 5. DBBL NEXUS Gold OD card (credit) 6. DBBL NEXUS VISA credit card (in phases); 7. DBBL-NEXUS debit card products.

4.1.2 Benefits at a glance of using card:

This most secure, convenient, and reliable forms of payment that enable consumers to freely conduct withdrawal of cash from 150 DBBL ATM (350 at the end of year 2007) network and purchase at DBBL POS Terminals.

4.1.2.1 Eligibility for debit cards: To get a DBBL-NEXUS debit card, one has to open account in any branch of DBBL. After opening the account (SB/CD) the customer receives a DBBL NEXUS classic Card free of charge. To get a DBBL NEXUS Maestro or VISA Electron card, the customer has to inform the respective branch and then the desired card is issued to the applicant with a minimum fee.

4.1.3 DBBL NEXUS OD Card Products:

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With a vision of rendering services through new financial products, Dutch-Bangla Bank Limited has started issuance of DBBL-NEXUS Gold and Silver Cards with OD facility since June 2006. With this card, the cardholders can avail a OD facility from Tk.10,000/- (ten thousand) up to Tk.2,000,000/-(twenty lac) depending on credit worthiness. Consequently the bank shall be offering a complete card product range starting from proprietary debit/credit, OD cards to international branded debit/credit cards

4.1.3.1 Eligibility for OD Cards: The applicant has to be an accountholder of DBBL. They should belong to any of the following categories: 1. Government service holders. 2. Employees of different corporate bodies that have salary account with DBBL 3. DBBL borrowers, SB or CD account holders. 4. Employees of Banks, Financial Institutions, Multinational Companies, Telecommunication Companies, University / College/ School/ Autonomous Companies, Pharmaceuticals Companies, Professionals, Defense, CIP, VIP; 5. Valued clients of DBBL

4.1.4 International card brands membership:

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DBBL has obtained the principal membership from VISA international and MasterCard International for issuing VISA debit/credit & Plus cards and MasterCard's Maestro & Cirrus Cards respectively and acquiring VISA debit/credit & Plus and MasterCard's debit/credit & Cirrus cards respectively.

5.0 Positioning Strategy of DBBL At the moment the DBBL is covering all the major cities of Bangladesh with its branch, ATM & POS networks. The bank 150+ live DBBL ATMs now and within this year the number will be 350 and by 2010 it will have total 1000 ATMs covering all parts of Bangladesh. The bank has 750+ POS Terminals installed at the moment which shall be increased to 3000 by the end of the year. DBBL keep the options of getting membership from other international card issuers like Diners, Discover, Amex etc. depending on the demand from our customers as well as DBBL is going to get the principal membership of MasterCard International for issuing and acquiring (in POS Terminals) of credit cards.

5.1 Provided Services: DBBL carries a well organized online data centre. The data centre has an area of about 10,000 sft. The most key concern is in banking industry. The major concern for DBBL is to going

online. The infrastructure level security is very much cost effective. To avoid the matter DBBL intends to go online have the capability to allow the vast amount of money and more importantly right hardware, software and network compatibly, reliability and security to perform.

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5.2 DBBL follows security measures: Password controlled system entry; VeriSign issued Digital ID for the Bank's server; Secure Socket Layer (SSL) protocol for data encryption; Firewall setup.

5.3 Services provided by DBBL ATMs & POS:

5.3.1 Teller Machine (ATM): The availability of cash at the right moment is the highest priority to the customers. Bank can provide banking service for 24 hours through ATM network. People from around the world can avail cash from ATM using international branded debit & credit cards. It works as if it is a bank. Getting banking services through DBBL ATMs: Client can find DBBL ATMs just after Client's home, , nearby market, kacha bazar, university, college & school premises, office premise, Airport , Railway stations etc., throughout the country; All the ATMs accept DBBL-NEXUS or any other Master/VISA card Credit/debit card; 5.3.2 Services provided by DBBL Credit Card: 1. Withdrawing cash; 2. Checking account balance; 3. Funds transfer between current, 4. Savings and credit card accounts; 5. Bills/tuition fee payments; 6. Getting mini-statement. 7. Stopping lost cheque. 8. Requesting for cheque book.

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9. Loan payment information.

6.0 Future strategic plan

The bank has adopted a focused marketing strategy with its goal to achieve a card base of 1 million by 2010. In the near future the bank is going to issue MasterCard International & VISA International's credit cards.

6.1 Place distribution: Distributing the services amongst the each part of the country, the bank is planning to install 200 more ATMs by this year, ensuring the total number of ATM at 350. DBBL has the planning to install a total 3000 POS Terminals within 2008 to make the bank's services more competitive.

6.2 Public relation: Tk 300cr syndicated loan for Warid Telecom - Friday. April 13, 2007; DBBL signs deal with Warid Telecom Int'l - April 12, 2007 ; Standard Bank signs deal with Warid Telecom for bill collection - April 11, 2007; NCC Bank signs deal with Warid Telecom - April 17, 2007 Motorola signs agreement with Warid Telecom - Sunday April 01, 2007 ; Prime Bank to collect WARID Telecom subscribers' bills - March 15, 2007 ; Warid Telecom signs deal with Banglalink November 17, 2006 ; Warid, GP sign interconnection agreement - November 13, 2006 ; Warid Telecom gets Tk400cr syndicated financing facility - November 05, 2006 ; Warid Telecom reaches interconnectivity deals with 5 operators - September 04, 2006; RanksTel, Warid sign deal on interconnectivity - Wed, July 26, 2006 ; Warid Telecom to provide voice, data services to Motorola - Thursday, July 26, 2006

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7.0 Demand Analysis of the DBBL credit card products

7.1 Finding and Analysis: The survey was conducted to the different kinds of customer using cards of DBBL. There are twenty questionnaire developed on the basis of an article. Through questionnaire asking the whole finding and analysis process were developed. Those customers are the potential customers have both current account of the DBBL. The questionnaire represents the social class, socio economic condition, perception towards the services. Besides, an attempt had been made to find out the most preferred institutions of the respondents. In short, three different objectives were tried to be achieved by this survey. The objectives are: To study the demographics or socio-economic background of the card users or account holders. To analyze the consumption behavior patterns of the borrowers or debitors. To understand the decision making process of the Card Holders

1. There are more advantages with credit card payments, than with cash

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Measurement Variables Strongly Agree Agree No comments Disagree Strongly Disagree

% of respondents 43% 37% 7% 10% 3%

Figure 1: There are more advantages with credit card payments, than with cash

It is commonly seen that maximum respondents argued for Credit card as the tools of efficient Payment system.13% responde take place against purchasing goods through credit card. The claimed it because of high interest rate. Credit card treated as the most convenience items. Credit card is the most fashionable tools to handle. Customer gets more comfort regarding use of Credit card. Cash holders always get tense about loosing the money. It is not always get comfort about carrying cash .

1.

It is more convenient to use credit card payment, rather than cash

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50% 40% 30% 20% 10% 0% % ofres pondents

S trong Ag ly ree Ag ree N com ents o m D a ree is g S trong ly D a ree is g

Figure 2: It is more convenient to use credit card payment, rather than cash. Most of the customer feels that credit card system has better facility than using cash. They thought that carrying and using cash is not safe. Total 15% responder doesnt agree about that. They believe in some places cash are only can use and credit card really doesnt not serve the purpose. All the transaction points are not that much of modernize about credit card facility. BEIJING, Nov. 4 (Xinhua) -- China has seen the use of credit cards spread quickly and reshape its people's shopping habits in the last few years, especially in cities, according to the Nielsen Company. While cash is still the main form of payment, most credit card holders prefer to use their credit cards for payment as a convenient substitute to carrying piles of banknotes around, according to the Nielsen's China's annual Personal Finance Monitor (PFM) released on Sunday. The report, based on 11, 500 Chinese consumers in 18 cities, highlighted Xiamen, a second-rank city less famous than Beijing and Shanghai, in east China's Fujian Province, as a good example. The report said four out of 10 Xiamen consumers now own at least one credit card, and half of bankcard holders in Xiamen own at least two or more credit cards.

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Credit card holders in Xiamen put an average of 50 percent of their monthly income in their credit card account to indulge themselves with cashless shopping, said the Nielsen's PFM report. Consumers aged between 18 and 24 are the most active users of credit cards in the city, the report said.

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3. Using a credit card means that you do not have to worry about taking too much cash with you

Measurement Variables Strongly Agree Agree No comments Disagree Strongly Disagree

% of respondents 33% 32% 17% 18% 10%

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S trong D ag ly is ree D ag is ree % of res pondents No com ents m Ag ree S trong Ag ly ree

0% 1 0% 2 0% 30% 40% Figure 3. Using a credit card means that you do not have to worry about taking too much cash with you. Maximum customer believe that credits card refers them as same as cash. But it is not always same everywhere there are some people they need hard cash to satisfy their needs. In our country the using of credit card system that much not smart enough. Most of the low involvement products required hard cash. Most of the shopping mall actually has credit card facility. 4. It is necessary to have a credit card with you when you travel overseas:

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Measurement Variables Strongly Agree Agree No comments Disagree Strongly Disagree

% of respondents 23% 17% 40% 11% 9%

I was worried. Had someone stolen my card number and gone on a shopping spree? I called the credit card company right away, and what I learned surprised me. My card wasnt stolen. Instead, the credit card company was monitoring my spending according to a customer. Another example is I had never before used my credit card in French Polynesia, so when I bought black pearl earrings in Tahiti, the bank deemed the charges questionable and put a hold on my account both for my protection and, presumably, to limit their own losses if the card had been compromised. Credit card companies often do this when their computers detect an abnormal pattern of use. As I found out, this normally helpful service can pose problems for travelers.

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S trong D ag ly is ree D ag is ree No com ents m Ag ree S trong Ag ly ree 0 % 10% 20 % 30 % 4 0% % of res pondents

S trong ly No S trong ly Ag ree D ag is ree Ag ree com en m D ag is ree % of res pondents 23 % 1 7% 40% 11% 9%

Figure 4.It is necessary to have a credit card with you when you travel overseas: most of the respondents dont have any comments about the credit card facility to overseas. Because most of the credit card used only as local purpose. The other responder 40% use international credit card. 20% responder dont support about carrying credit card. They only support carrying foreign currency as cash.

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Measurement Variables Strongly Agree Agree No comments Disagree Strongly Disagree

% of respondents 39% 31% 3% 17% 10%

5. It is safer to use credit cards payment compared to cash payment.

40% 35% 30% 25% 20% 15% 10% 5% 0% S trong ly Ag ree Ag ree N o com ents m D a ree is g S trong ly D a ree is g

% ofres pondents

Figure 5. It is safer to use credit cards payment compared to cash payment.

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Analysis: most of the customer supports for using cash as a safely payment system. They have most reliability towards using credit card. 27 % of customer doesnt support to pay through credit card rather using cash due to interest rate. 1. Accepting credit cards captures the impulse customer there are many people who buy on impulse. They see something, they like and before they think of the pros and cons of buying it, they have already charged it to their card. The businesses that don't accept credit cards, will accept payment by either check or cash or electronic transfer, which takes much more time. During this time (as is often the case), the customer might realize that they actually can do without the product and the sale is ultimately lost. 2. Accepting credit cards can help acquire international customers If you sell products online, or if you use EBay(R) to sell items, then accepting credit cards from your customers makes it easier for overseas customers to pay you more promptly - especially when compared to check payments or wire transfers (for large-ticket items). 3. Accepting credit cards makes it drastically safer and easier to get paid businesses that accept credit cards bank on the high security system the credit card providers have established the world over. Though "headaches" can still occur from time to time, the risks are far more reduced when accepting payment by credit cards than any other form of payment. Businesses that do not accept credit cards leave themselves open to several hassles through false checks, bounced checks, rejection of COD and so on. 4. Accepting credit cards can often cause the customer to buy more, and more often businesses that accept payments by credit cards can often profit from a higher average order size due to the ease and flexibility of paying for something on credit. Hence, they allow their customers to stretch

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their limits of purchase while the businesses that do not accept credit cards cannot benefit from this aspect. Measurement Variables Strongly Agree People Agree cannot buy No comments Disagree more on Strongly Disagree fixed amounts of cash. % of respondents 43% 31% 1% 17% 8%

5. Accepting credit cards encourages the buyer to buy now and pay later - as well as benefiting from seasons discounts and rewards that the credit cards providers announce from time to time. This aspect is not available for those who buy on cash or by check, and hence these customers are not tempted to make more purchases. In most cases, sales volume will increase for the business that accepts credit cards, simply because of the extra motivation they get

6. It is easier to control my expenditure when I use cash

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S trong Ag ly ree Ag ree N com ents o m D a ree is g S trong D a ree ly is g

Figure 6. It is easier to control my expenditure when I use cash. Analysis: Maximum customer argued for cash rather than credit card. Credit card buying habit. It is tough to track the expenditure. Some clients argued for Credit card as the better option to control expenditure. Increase

A customer says I find I spend more when keeping cash around. This is because I use online banking, so when I use my debit card, the transaction shows up in my software automatically. I then have to enter a category for the transaction which helps keep me honest. (A major step in this was eliminating a miscellaneous category.) I understand how cash can work for some people, but by using one card, and one card only, I find Im more responsible. Another person Agree but for some people its already enough of a task to budget with the cash system. Its a big deal that they could even do that, so to ask more of them is to risk falling into bad habits.

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7. The usage of a credit card would encourage people to buy things beyond their budget.

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Measurement Variables Strongly Agree Agree No comments Disagree Strongly Disagree

% of respondents 45% 35% 7% 12% 1%

50% 40% 30% 20% 10% 0% S trong ly 45% Ag ree 35% N o 7% D a ree is g 12% S trong ly 1%

Figure 7. The usage of a credit card would encourage people to buy things beyond their budget. Here the most of the customer agreed with the questionnaire. Only 7% responders were confused about the matter. The 13% people dont agree upon with the fact. Credit card makes the customer having the freedom of shopping instead of cash. There are not enough limitations or small credit limits followed by DBBL. The respondents were comfortable with the holding and use

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of credit cards and particularly recognized their value for spending on travel and entertainment. The research also identified purchase trigger points, which indicated that the use of credit cards for purchases above certain value was already prevalent with this sample of urban-affluent Chinese consumers. Research limitations/implications The sample was drawn from a narrower base than the actual target population of urban-affluent market, but an available and valid respondent set, which offers insights into the early-adopters of the credit card product of DBBL

8. People come across difficulties frequently when they use credit cards.

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Measurement Variables Strongly Agree Agree No comments Disagree Strongly Disagree

% of respondents 23% 31% 10% 27% 9%

S trong Ag ly ree Ag ree N com ents o m D a ree is g S trong D a ree ly is g

Figure 8: People come across difficulties frequently when they use credit cards.

Here 54% responder agreed about the matter. The other 36% responder doesnt get agree. Most of them believe that the credit card has complexity to use. There are some procedural barriers. There are some hidden costs. And our current market and shopping centre or 1 stop mall does not carry that much of huge specialties professional to maintain the credit card system.

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Measurement Variables Strongly Agree Agree No comments Disagree Strongly Disagree

% of respondents 23% 37% 11% 19% 10%

9. It is too complicated to use a credit card.

40% 35% 30% 25% 20% 15% 10% 5% 0% % ofres pondents

S trong Ag ly ree Ag ree N com ents o m D a ree is g S trong D a ree ly is g

Figure 9; It is too complicated to use a credit card.

60% of the responder agreed that using the credit card has complexity. It is easy to transaction with cash rather than credit card, they thought. Some retail outlet and shop keepers dont show any interest to take credit card. On the other hand they charge some extra amount because of complexity.29% customer find credit card as more convenient way of shopping.

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Measurement Variables Strongly Agree Agree No comments Disagree Strongly Disagree

% of respondents 36% 44% 3% 10% 7%

10. The reason why most people adopt the credit card is that it makes them feel cool and fashionable

Forget about low interest rates, rewards points and free balance transfers. To attract new customers in a crowded market, the DBBL credit-card issuers are pitching cards with sleek features, including a hefty one that its promoters say has "plunk factor." Inspired by consumer interest in eye-catching products like DBBL credit card and fashionable can openers that have moved from the cupboard to the countertop, DBBL credit-card companies are creating unique cards aimed at winning the coveted "top of wallet" position.

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45 % 40 % 35 % 30 % 25 % 20 % 15 % 10 % 5 % 0 %

S trong Ag ly ree Ag ree No com ents m D ag is ree S trong ly D ag is ree

% of res pondents

Figure 9: The reason why most People adopt the credit card is that it makes them feel cool and fashionable. Most of the customer 80% agreed upon that credit card makes them smart and cool. It helps them to do transaction with efficiency and secured. Credit card helps their life to live

easier. Having the credit makes them fashionable and stylist enough. Only 3% user believes that they are really not sure about the statements. 17% customer doesnt have the same opinion.

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Measurement Variables Strongly Agree Agree No comments Disagree Strongly Disagree and wealthy.

% of respondents 49% 44% 1% 3% 3%

10. credit

Paying card

by makes

people feel important

Figure 10. Paying by credit card makes people feel important and wealthy.

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Most of the customer believes that credit card is a smart thing. It always makes a persona Measurement Variables Strongly Agree Agree No comments Disagree Strongly Disagree important and wealthy. % of respondents 33% 39% 03% 18% 10% financially secured and wealthy. It helps to purchase thing on credit when it really needs. In that point of view credit card makes customer feel

11. I use a credit card regularly.

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Figure 11. I use a credit card regularly Analysis: Most of the customer show positive response towards of using the credit card as a regular basis. Because they find that credit card is more convenient than using the cash and its secured enough.

12. Transactions through electronic banking are accurate.

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Measurement Variables Strongly Agree Agree No comments Disagree Strongly Disagree

% of respondents 47% 43% 03% 4% 3%

Figs 12.Transactions through electronic banking are accurate.

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Analysis: Most of the customer feels that through shopping with credit card is more secured to Measurement Variables Strongly Agree Agree No comments Disagree Strongly Disagree % of respondents 37% 43% 03% 10% 07% them. The whole

transaction process also accurate. tracking The whole system

operated such an accurate way that the billing and other factors doesnt have any chance to mistaken. DBBL already earned such a trustworthy relationship that the customer of DBBL always rely on the transaction process. 13. Electronic banking services are faster than in-branch banking.

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Fig 13: Electronic banking services are faster than in-branch banking. Analysis: Technological advancement enhances the performance of the retail banking. It is faster and convenience. Through technological development EBL provides a wide area network. Through electronic banking system the transaction procedure get wide and advance coverages. Thus it gets speed and faster banking system than the previous. Here 85% of the customer shows positive responses towards the matters.

14. Electronic banking is user friendly.

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Measurement Variables Strongly Agree Agree No comments Disagree Strongly Disagree

% of respondents 64% 33% 01% 1% 1%

Fig 14. Electronic banking is user friendly. Here 37% of the responder agrees with electronic banking system and 43% strongly agrees for electronic banking system. They find it convenience, reliability and faster way of doing business. DBBL getting such a technological improvisation thus it make the banking system more reliable than the other bank services.

15. Going to a bank branch involves travel costs.

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Measurement Variables Strongly Agree Agree No comments Disagree Strongly Disagree

% of respondents 55% 39% 01% 3% 2%

Fig 15. Going to a bank branch involves travel costs.

Analysis: most of the customer agrees with the statement. They always incur cost on going to the DBBL to get the adequate service. Now the travel expenses get hire and hire. On the other hand the process is also time consuming.

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16. I like to use new methods to conduct banking transactions, e.g. ATMs, telephone banking.

Measurement Variables Strongly Agree Agree No comments Disagree Strongly Disagree

% of respondents 34% 26% 09% 21% 10%

Fig 16: I like to use new methods to conduct banking transactions, e.g. ATMs, telephone banking.

Analysis:

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Most of the customer above 90% agrees with the statement. Branch banking system is a time consuming process. Where the electronics banking system is more convenience, reliable, and faster services.

17. Electronic banking charges are expensive.

Measurement Variables Strongly Agree Agree No comments Disagree Strongly Disagree

% of respondents 34% 26% 09% 21% 10%

Fig 17: Electronic banking charges are expensive.

Analysis: Here most of the customer believes that the electronic banking charges are expensive. The interest rate and the service charges are hire. There are too setup cost. The factors are that

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there are some sorts of hidden costs. Those hidden costs sometimes create barriers regarding creating brand loyalty.

18. Electronic banking has a wide variety of services available

Measurement Variables Strongly Agree Agree No comments Disagree Strongly Disagree

% of respondents 43% 54% 1% 1% 1%

Fig 18: Electronic banking has a wide variety of services available. Analysis:

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Around 97% of the customer agrees with the topics. Electronics banking now offers a wide range of services thus customer convenience increase day by day. Now they offer paying utility bill, money deposit, money withdrawal etc services. Electronic banking services provide transaction even at the middle of the night.

7.0 Conclusion

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Online banking is relatively a new concept for Bangladesh. Today the situation is a slight different at least in the different areas. Now with the modern banking facility, people can enjoy 24 hours banking facility, getting cash services, can shop here and there through credit card without going to the bank physically even from client's residence through Internet Banking or through Credit card, ATM, POS terminals. It is very necessary to careful about the stealing of money. Even though online banking fraud in large scale is yet to be reported in Bangladesh we need to take all the necessary measures to prevent it. This can be done through proper education on information technology & sufficient software & hardware support. Proper implementation of online banking will create a positive impact on economy. Dutch-Bangla Bank Limited is the leader in the online banking among the private banks of Bangladesh. It has employed almost all types of modern day banking facilities to provide convenience to its customers. All automated delivery channels are providing round the clock service through the mentioned hardware and software. Increasing its business field and size, it has also accelerated its giving to the poor of the society. DBBL contributes 5% of its profit for helping the destitute to extend their standard of living and earn a reputable way to keep up with their everyday activity. Considering the issues discussed earlier we may conclude that the Dutch-Bangla Bank Ltd. is not only a profit making organization, it is also a ideal "Corporate Citizen" who all the time take out its duties of business social tasks.

References Credit Rating Informationand Services Limited Nakshi Homes (4th Floor), 6/1A, Segunbagicha,

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Dhaka-1000 Tel: 7173700-1 Fax: 88-02-9565783 Email: [email protected]. www.dbblbd.com. Cooper, D. R., & Schindler, P. S. (2003). Business research methods (8th ed.). NY: McGrawHill. Denton, L. & Chan, A.K. (1991). Bank selection criteria of multiple bank users in Hong Kong. International journal of bank marketing, 9(5), 23-35. Dess, G. G., & Miller, A. (1993). Strategic management. NY: McGraw-Hill. Devlin, J. F. (2002). An analysis of choice criteria in the home loans market. International Journal of bank marketing, 20(5), 212-226. Kotler, P. (2003). Marketing management. (11th ed.). New Jersy: Prentice Hall The adoption and usage of credit cards by urban-affluent consumers in China Agarwal, J. and Wu, T. (2004), Chinas entry to WTO: global marketing issues, impact and implications for China, International Marketing Review, Vol. 21 No. 3, pp. 279-300. MasterCard (2003), China Credit Card Market Shows Huge Diversity, press release, July 22