Critical review of the use of information technology in Premier Bank for banking system improvement

Abstract

This internship report examines the impact of Information Technology (IT) on Premier Bank's operations in Bangladesh, highlighting how IT improves efficiency and customer service. Drawing from practical internship experience, the report emphasizes IT's pivotal role in modernizing banking practices and offers recommendations to boost the bank’s competitive edge, enhance customer satisfaction, and strengthen security. Premier Bank has adopted digital solutions like the PMONEY mobile app and internet banking, providing 24/7 access to services. The IT division ensures data integrity and implements cyber- security measures to protect sensitive information. Despite advancements, challenges such as the need for staff training, resistance to change, and outdated security protocols remain. Key recommendations include adopting AI-driven loan approval systems, using chatbots to improve customer experience, leveraging data analytics for better insights, and enhancing cyber- security. Exploring fintech partnerships is also suggested to drive innovation. The report underscores the importance of integrating advanced IT solutions to solidify Premier Bank's position in a competitive market.