Adoption of digital banking in Bangladesh- a study on Social Islami Bank PLC

Abstract

This report titled “Adoption of Digital Banking in Bangladesh- A Study on Social Islami Bank PLC” was done as a requirement of the undergraduate program BBA of BRAC University. This report aims to depict the digital banking scenario, how it has transformed over the years, the adoption and the future of the digital banking in Bangladesh. The overview of Social Islami Bank PLC, its day-to-day activities, its overall financial performance of the last three (3) years, KPI, etc are also discussed in the paper. This report also highlights the Social Islami Bank PLC’s adoption of this dynamic digitalized landscape and its role in doing so. The bank's approach to adopt the newer technology, promoting sustainability through paperless banking, introducing innovative and interoperable apps (SIBL NOW), and commitment to digital inclusion by onboarding unbanked people to formal banking are also discussed. The report comprises of three parts- First of all, the overview of the report where various internship information and the overall report overview. Second part is all about the organization where I completed my internship programme. This part gives insights about the activities, overall health and financial condition of the organization etc. Lastly, the report/project part emphasizes on the growth of digital financial services, its key drivers for the growth, challenges, and how to address those challenges, by analysing the trends, research papers, and credible sources available. This study concludes by stressing the significant role digital banking plays in shaping the future of Bangladesh’s banking sector. However, addressing the different challenges, recommendations were also given such as sufficient investment in technology, increasing customer awareness, compliance with changing regulations, and how Bangladesh can cope with this changing landscape.