The impact of technology on customer experience in retail banking: a study of Mutual Trust Bank PLC

Abstract

The current internship report, "The Impact of Technology on Customer Experience in Retail Banking: A Study of MTB PLC," explores the impact of digital technology on customer experience and satisfaction in the context of retail banking, specifically focusing on Mutual Trust Bank PLC (MTB) in Bangladesh. The study explores MTB's digital banking products, such as the MTB Smart Banking app, Cash-by-Code, and Virtual Card, and their roles in facilitating convenience, building trust, and encouraging customer loyalty in the face of increasing competition and technological competency and cybersecurity challenges. As a part of the internship program, the report evaluates the revolutionary impact of technology in the retail banking sector and its implications for customer loyalty and market competitiveness. First of all, the first chapter is an introduction to the internship, presenting the students' backgrounds and the internship location. It contains information about the students and internship details, including the internship period at Mutual Trust Bank PLC, the HR department, and the company's location. Second, Chapter two provides a comprehensive description of MTB, including its history, vision, mission, and values. It also explains the bank's structure, the role of the HR department, and the integration of technology into the HR function, providing context for MTB's leadership in banking services technology. Chapter three includes the analysis and findings of the research objectives. First, starting with the background of the topic, we highlight the importance of digital banking channels in transforming the customer experience. It includes a literature review, research methodology, and findings, analyzing the role of MTB's digital services (e.g., MTB eBank, smart banking apps) in terms of convenience and satisfaction, customer attitudes toward security and trust, and the role of emerging technologies in terms of loyalty. Finally, Chapter four presents recommendations and conclusions. It proposes how MTBs can overcome challenges such as cybersecurity threats and technological illiteracy to further improve customer experience through the use of technology. It also summarizes the study's key findings, highlighting the need for digital innovation to ensure retail banks' competitive advantage.