Customer perception on mobile banking applications offered by private banks

Abstract

This report evaluates customer perception of mobile banking applications provided by the private banks. The main focus includes user experience and familiarity, satisfaction level, challenges, and suggestions for improvements. The study was conducted on 50 individuals who use banking applications of various banks such as BRAC Bank, Al-Arafa Islami Bank PLC, City Bank, Bank Al-Falah, and Bank Asia A structured online survey was distributed among the participants to gather the primary data, alongside secondary data from relevant literature. The findings suggested that people use these apps for convenience, 24/7 availability, and time-saving nature. However, the challenges found included technical glitches, slow performance, security concerns, and inadequate customer support. It was seen that customers will switch banks if they are offered better functionality in a banking app. So private banks must invest in the addition of features, an easier user interface, and better customer service to ensure long-term engagement and maintain loyalty.