Success factor of mobile banking

Abstract

Importance of banking system in a country is increasing day by day. It is relatively dreadful for any country to develop in industrial and commercial sector without wide-ranging banking system in present economic era. Mobile Banking is one of the weighty purposes of the bank. It plays a dynamic role in overall economy of the country. This report mainly emphases on OK Banking, a newly lunched mobile financing service of One Bank Ltd. Through the report I have tried to show the beginning process of OK Banking which is executed by Interspeed Marketing Solutions Ltd. and the work of a territory officer to make the plan successful. The report is containing a brief process of OK Banking activation plan of first three months in terms of their branding, operation, product designing and market execution plan. The whole process was maintained by Interspeed Marketing Solutions Ltd. So, as a third party their effort and contribution also focused on this report. Additionally, this report includes the responsibilities of territory officers in the activation period. The whole process is executed by the territory officer who is portrayed in this report by a three months long time line. During this time territory officer send field information through the chain of command to the strategy makers. The information includes competitor’s offers to the customers and agents, new product and its promotional activities, agent conference etc. territory offices have to regularly monitor within their territory to update this information frequently. They deliver the product to the agents and ensure sales growth. The report also shows a SWOT analysis to give a clear view of OK Banking market position and the competition within this industry. Though bkash have largest share of this market, OK Banking going to introduce seven more features to have a competitive advantage. The threats of new entrants are there but brand reliability and good service can ensure the future of OK Banking.