Project Paper on ATM & CDM Services of BRAC Bank Limited
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Transcript of Project Paper on ATM & CDM Services of BRAC Bank Limited
Project paper on ATM & CDM services of BRAC Bank LimitedA Project Paper submitted in partial satisfaction of the requirement for the degree
Of
MASTER OF BUSINESS ADMINISTRATION
Letter of Transmittal
Date: December 10, 2010
To,
Md. Rahman
Sub: Submission of Project Paper.
Sir,
This is a great Pleasure for me to submit the project paper on ATM & CDM services of BRAC Bank Limited and its growth which is a partial requirement of my M.B.A program. While preparing this report, I tried my best to follow the instruction that you have given me.
The entire report is on my practical experience in the bank. I have furnished all the things what I have learnt during the job at BRAC Bank Limited.
I would like to thank you from the code of my heart for assigning me this project, which has helped me in so many ways to learn necessary things about working.
I shall be highly encouraged if you are kind enough to receive this report.
Sincerely yours,
.
Acknowledgement
At the very beginning, I would like to express my deepest to almighty ALLAH for giving me the strength and the composure to finish the project.
Words actually will never be enough to express how grateful I am, but never the less I will try my level best to express my gratefulness toward some people.
At first I would like to express my indebtedness to International Islamic University Chittagong, for which my dream a post graduate has come true. I want to remember my department, teachers, and friends, specially my project supervisor Md. Saifur Rahman Bhuiyan for giving me the permission to prepare such a project paper.
Executive Summary
BRAC Bank promotes broad based participation in the Bangladesh economy through the provision of high quality services. BRAC Bank does this by increasing access to economic opportunities for all individuals and business in Bangladesh with a special to focus on currently under served enterprises and households across the rural-urban spectrum. BRAC Bank believes that the pursuit of profit and development goals is mutually reinforcing. Increasing the ability of under-served individuals and enterprises to build their asset base and access market opportunities will increase the economic well being for all Bangladeshi at the same time, this will contribute significantly to the profitability of the Bank.
This report on retail credit is designed to gather some concrete fact of retail credit. If also reveals various credit product of the Bank, their classification, unique features and performance.
BRAC Bank is one of the most flourishing Banks of Bangladesh with wide growth opportunities in the industry. The survey on the retail credit of BRAC Bank was conducted with an aim of improving the overall credit performance of BRAC Bank. The research gave valuable insights as to where improvements were necessary to improve the quality of services.
This project shows BRAC Banks different ATM facilities and their growth within the country.TABLE OF CONTENT
Letter of Transmittal......i
Acceptance........ii
Acknowledgement......iii
Executive Summery......iv
About BRAC Bank......01
Vision Mission And Value.....02
Board of Directors ......03
Board of management committee ....04
Types of Meeting .......05
What is Alternative Delivery Channel...06
Services of Alternate Banking .....07
Overview of Call Center .....10
IVR.........11
Activities of Call Center .....14
Tale Sales ........18
Selling Process of Call Center .....20
Part of ADC.......21
Why ADC in BRAC Bank? .....28
Product & Services of ADC.....29
CDM Service of BRAC Bank.....32
In the end of year 2005......38
In the end of year2006......38
In the end of year2007......39
In the end of year2008......39
In the end of year 2009......40
Total Number of ATM's in present ....40
Objective........41
Findings........42
Recommendation.......42
Conclusion........43
Bibliography.......44
BRAC Bank
A fully operational commercial Bank, BRAC Bank focuses on perusing unexplored market niches in the Small and Medium Enterprise Business, which hitherto has remained largely untapped within the country, the Bank has provide support to more than 200000 Small and Medium Enterprise. Since inception in July 2001 the banks footprint has grown to 69 branches, 59 SME Sales Center, 429 unit offices and more than 177+ ATM's across the country.
The banks operate under a double bottom line agenda where profit and social responsibility to hand in hand as it strives towards a poverty free, enlightened Bangladesh.
BRAC bank Limited, with institutional shareholding by BRAC, International Finance Corporation (IFC) and Shore Cap International, has been the fastest growing bank for last several years.
Percentage
BRAC37.18%
IFC5.83%
Shore Cap International6.99%
General Public through IPO45.48%
Non-Residents Bangladeshi's0.45%
Mutual funds through IPO4.07%
Total100%
VISION, MISSION, VALUES
VISION
Building a profitable and socially responsible financial institution focused on Markets and Business with growth potential, thereby assisting BRAC and other stakeholders build a Just, enlightened, healthy, democratic and poverty free Bangladesh.
MISSION
O BRAC bank will adhere to professional and ethical business principles and internationally acceptable banking and accounting standards.
O Sustained Growth in Small and Medium sector, continuous low cost deposit growth with controlled growth in retained Assets.
O Achieve efficient synergies between the branches, SME unit offices and BRAC field offices for delivery of Remittance and Banks other products and services
OManage various lines of business in fully controlled environment with no compromise on service quality
OKeep a diverse, far-flung team fully motivated and driven towards materializing the banks vision into reality.
VALUES
OOur strength emanates from our owner- BRAC and we hold the following values to guide us as we do our jobs.
OCreating an honest, open and enabling environment.
OHave a strong customer focus and build relationships based on integrity, superior service and mutual benefit.
OStrive for profit and sound growth.
OWork as team to serve the best interest of our owners.
ORelentless in pursuit of business innovation and improvement.
OResponsible, trustworthy and law-abiding in all that we do.
Board of Directors of BRAC Bank Limited
The Board of Directors of BRAC Bank Limited includes:
Mr. Muhammad A (Rumee) AliChairman
Mr. Quazi Md. Shariful Ala
Director
Mr. Mark A.Coffey
(Nominated By ShoreCap International Limited)
Director
Ms. Nihad Kabir
Director
Ms Tamara Hasan Abed
Director
Mr. Shib Narayan Kairy
Director
Mr. A.E.A Muhaimen
Managing Director & CEO
Members of BRAC Bank Limited Management Committee
Mr. A. E. A. MuhaimenManaging Director & CEO
Deputy Managing Director & COO
Mr. Rais Uddin AhmadCompany Secretary & Head of Risk Management
Mr. Mohd. Rafat Ullah KhanHead of Credit
Ms. Tahniyat Ahmed KarimHead of HR
Mr. Naushad HussainHead of Probashi Banking
Mr. Shah Alam BhuiyanHead of Enterprise Risk Management
Mr. Mohammed Rahmat PashaHead of Treasury & Financial Institutions
Ms. Farzana ChowdhuryHead of SME
Mr. Khwaja ShahriarHead of Corporate Banking Division
Mr. Mizanur Rahman ChowdhuryHead of Technology
Mr. Md. Sarwar AhmedHead of Impaired Assets Management
Mr. Md. Abedur Rahman SikderHead of Marketing & Corporate Affairs
Mr. Firoz Ahmed KhanHead of Retail Banking
Mr. Faruk AhammadHead of Financial Administration
COFFEE Meeting:
Coffee meeting is an informal meeting of all the heads of the departments including the MD and COO. It usually takes place once a week on Sunday morning. Every departments issues and updates are generally discussed in this meeting.
MANCOM:
MANCOM is Management Committee. It consists mostly of Heads of various departments as well as Managing Director & CEO and Deputy Managing Director & COO.
MANCOM meeting:
MANCOM meeting is a formal meeting of the Management Committee members as well as the MD and COO. The members give an overview of the performance of their departments, their growth, their issues and their future plans. The meeting usually takes place on the 10th of every month.
Board meeting:
The board meeting takes place on third Monday of every month.
Town Hall Meeting:
The Town Hall meeting takes place once in every quarter of the year. The MD gives a presentation regarding the banks progress in that quarter, in the presence of all the members of the BRAC bank family.
Members of the EMT
EMT is Extended Management Team. The team consists of members who are basically the second tier managers of the bank.
Function of EMT
The main responsibilities of EMT s are to help the MANCOM with different issues regarding the smooth operations of the Bank.
Other important meetings in the Bank:
The other important meetings that take place in the bank include:
Steering Committee Meeting
ALCO Meeting
ERMC Meeting
Credit Committee Meeting.
What is Alternative Delivery Channel?
Service delivery is a customer-oriented activity. Service delivery activities are carried out by organizations and are oriented towards meeting customer needs and expectations. An Alternative Delivery Channel is the means by which a service is delivered to the clients through an alternative way other than a traditional delivery or distribution channel.
In case of banking sector whenever a client thinks to have a banking service first of all he thinks to go to a bank branch. But nowadays banking service providers establish some new service delivery channels through which clients can get the same service that they used to get from the branch of a bank. Services of Alternate Banking
Automated Banking
BRAC Bank Limited has introduced the following services to enrich its Automated Banking Department:
Automated Teller Machine (ATM)
Cash Deposit Machine (CDM)
Internet Banking
ATM
At present BRAC Bank Limited has 175 ATM's across the country. Numbers of ATM's (zone wise) are given bellow:
Dhaka Zone 136 ATM's
Chittagong Zone 11 ATM's
Sylhet Zone 11 ATM's
Rajshahi Zone 3 ATM's
Khulna Zone 4 ATM's
Barisal Zone 3 ATM's
Rangpur Zone 4 ATM's
Facilities of BRAC Bank ATM:
Withdraw cash 24 hours a day by using Credit / Debit cards.
Account balance inquiry
Account mini statement
Pin change of Debit / Credit Card
Service Charge:
No service charge is taken for using BRAC Bank ATM.
Upcoming facilities:
Chequebook request
Utility and / Household bill payment.
Fund transfer to other accounts of BRAC Bank Ltd.
CDM
At present BRAC Bank Limited has 30 CDMs and all of those are Dhaka based.
Facilities of BRAC Bank CDM:
Deposit cash at any time up to BDT. 20,000/- (Twenty Thousand) at once.
Deposit cheque / draft / pay order of any amount.
Service Charge:
No service charge is taken for using BRAC Bank CDM.
Internet Banking
All account holders of BRAK Bank Ltd. are eligible to enjoy the Internet Banking Service offered as BRAC Bank Direct. Client who wants to use the Internet banking facility has to register by providing a valid email address for the service.
Facilities of BRAC Bank Direct:
Account information.
Loan information.
Account balance inquiry.
Account mini statement.
Cheque status.
Lost card (Debit / Credit) reporting
Loan calculator.
Service Charge:
Annual service charge is BDT 200 + 15% VAT.
Upcoming facilities:
Open an account
Make a payment
Set up automatic payment
Receive bills electronically
Request e-mail notification
Review payments
Make a transfer
Review Transfer
Add account
Order checkbook
Order statement copy
Stop check payments
Stop sending cancelled check
View paper statement
Calculator: balancing your checking account.
Mobile recharge
Order a Demand Draft / Pay Order
Request for Duplicate Physical Bank Statement
SMS Banking:
All account holders of BRAK Bank Ltd. are eligible to enjoy the SMS Banking Service offered by BRAC Bank Ltd. Client who wants to use the SMS banking facility has to register by providing a valid mobile phone number (GrameenPhone , Banglalink, Warid or Aktel) for the service.
Facilities of BRAC Bank SMS Bank:
Information of last 3(three) transactions of current business date.
Account balance inquiry.
Credit Card Limit Check.
Credit Card due amount check.
Last date of payment check (Credit Card bill)
SMS Alert System:
Deposit alarm.
Maturity alarm.
Withdrawal alarm.
Account status change alarm.
Loan payment failure alarm.
Service Charge:
Annual service charge is BDT 200 + 15% VAT.
Phone Banking
The services of Phone Banking Department are:
Call Center
Tale sales
Overview on Call Center
Call Center
BRAC Bank Call Center mainly provides inbound Call Center facility. Calls come through the IVR & it routed to Guest Service Executives (GSE) if customer wants GSE support. From within the facility the trained GSEs provide all the information regarding their account related queries, requests, and product related information to all internal & external guests. They also resolute the guests' complaints. Call Center is running 24/7 & 365 days in a year. Call Center is under the umbrella of Alternate Banking Division and an integral part of Brac Bank.The Launching Date
BRAC Bank Call Center was launched on 9th September, 2006.
Call Center Hot line Numbers
CALL CENTER is equipped with a special networking system where 30 customers can call and get connected concurrently at present. The hot line numbers are 01819230000 & 01819260000.
Why Call Center
Call Center has been initiated with the concept of diverting the customers from the branches, service centers to accommodate more business clients and it is also cost effective from company perspective. Call Center allows control over the quality of Customer Service and consistency in information and it is a great value addition to all BBL Clients, as it offers the clients the flexibility of time, freedom from any sorts of daily travel hassle. Furthermore the Valued clients can enjoy professional Service with a friendly manner.
Call Center ensures Multiple Services
There are three basic services which is provided from the Call Center
1. General Banking.
2. Credit Card.
3. ATM help desk.
IVR
IVR stands for Interactive Voice Response. It is an automated service that recognizes & responds to the Guest's tone with the help of touch in phone-keypad. Each & every calls dialed to CALL CENTER numbers (01819230000 or 01819260000) first lands on IVR where it greets the guest, gives the guest options to select their preferred language and then gives clear and easy instruction that leads to satisfy guest's queries. Furthermore, IVR also gives guest the logical option to speak to a GSE. Customers can call from any phone, from any place (home or abroad) at any point of time.
The first menu options in IVR:
Welcome message> Language selection>press1 for Banking service.
Press2 for Product information.
Press3 for card & cheque book activation.
The global prompt in IVR is given below:
>8 for previous menu
>9 for agents assistance
>* listen again/ Repeat
>0 Main menu
The whole options in IVR altogether are named as Call Tree. Some of the key menu options are listed below that delivers direct service to our guests from IVR.
1. Balance inquiry
2. Credit card payments
3. Cheque book request
4. Cheque book stop
5. Transaction details
6. Product highlights
7. Credit card balance
8. Account status
Three Examples of IVR interaction with a Customer
1) Credit card payment:
1. Customer Calls the CALL CENTER numbers (01819230000 or 01819260000);
2. Selects the language option by Pressing 1 for Bangla or 2 for English;
3. Selects Banking services by Pressing 1.
4. Selects credit card service by Pressing 2.
5. Enters 16-digit credit card number
6. Confirmation the credit card number by pressing 1.
7. Enters 4-digit credit card pin number
8. Select other credit card services by pressing 2.
9. Select credit card bill payment by pressing again 2.
10. Enter 16 digit ATM/ Debit card numbers
11. Enter 4 digit ATM/Debit card PIN numbers then IVR automatically announce a/c Number & Balance.
12. Confirmation the account number by pressing 1.
13. Enter the payment amount & press #. (For Example:1500#00#)
14. Confirmation the details by pressing 1& press again 1 for reconfirm.
15. IVR response to write a Reference number for further inquiry. (6 digit)
2) Balance Inquiry:
1. Customer Calls the CALL CENTER numbers (01819230000 or 01819260000);
2. Selects the language option by Pressing 1 for Bangla or 2 for English;
3. Selects Banking services by Pressing 1.
4. Selects a/c related information by Pressing 1.
5. Enters 16-digit debit card number & 4 digits PIN.
6. As a response, IVR authenticates & voices out the Account Balance.
3) Cheque book request
1. Customer Calls the CALL CENTER numbers (01819230000 or 01819260000);
2. Selects the language option by Pressing 1 for Bangla or 2 for English;
3. Selects Banking services by Pressing 1.
4. Selects a/c related information by Pressing 1.
5. Enters 16-digit debit card number & 4 digits PIN.
6. As a response, IVR authenticates & voices out the Account Balance.
7. Selects a/c related Services by Pressing 2.
8. Selects Cheque book request by Pressing 2.
9. IVR response to write a Ref. number for further inquiry.
Who are the Agents and what makes them a Quality Agent
Agents are essentially Guest Service Executives; who are stationed in a cubical with state-of-the-art tale phonic set-up. Relentlessly they are answering to customer calls regarding their queries, complaints & any account related concern. They listen, empathize & try to provide instant solutions or to guide the customer towards solution in a professional manner with a friendly voice. Besides all, smile is the key indicator of an agent.
Activities of GSE from CALL CENTER
Information Based Services:
Sanchayapatra inquiry
Locker Service Details
Western Union Service
Saturday Banking Information
Evening Banking Information
Student file Query
Endorsement Query
New Customer's inquiry
All Fees & Charges query
All Service Points, ATM & Branches, POS location, phone, address, etc
Visa Processing Fee
Latest Foreign Currency Rates
SMS Banking Service Information
Utility Bill Payment Procedure
Receiving Tuition fees of Different Universities.
Information on all BBL cards
Current Interest Rate and Charges of Different Products
Query on Remittance Services
Information restriction (information of all public ltd. Co. Joint Accounts if MOP Jointly)
Travel Related Services (TRS) Queries
Mandate Information is not given to other account holder except for Probashi Account
Balance queries of all accounts
Loan a/c details, FDR a/c details, DPS a/c details
Information on Evening Banking and Saturday Banking
Credit card balance, Minimum due amt./ Outstanding
Credit card statement date & Card status.
Various Important Issue Resolving Services:
Internet Banking issues
SMS Banking issues
IB log in assistance instantly.
Captured Card Query ( Both debit & credit card)
Loan installment discrepancies
Account Maintenance Fees discrepancies
ATM/ Credit cards Fees discrepancies
Captured money complain
Card PIN & Cheque Related
CDM Deposit Complain
Double Posting Problem
IVR Related Complains
Limit Increase Of ATM/Visa Card
Debit card various issues.( Link, Status etc)
Request Received From Customers:
Cheque book request - after verification from IVR.
Cheque book activation/Stop
ATM/Visa activation/Deactivation
Credit Cards activation/ blocking/ card refreshing
Address change.
Lead Generation for different available products
Credit shield de & Re- enrollment.
Duplicate statement request for credit card holders.
Lost/ stolen card request
Credit card replacement request
Re-issue card stop
Account information update.
Pay flex enrollment request.
Mobile number updates req. of credit card holder.
Miscellaneous Services:
Lotus Communication
Cross Checking Of Retail & Card Proposal
Hot /Stop Request For Issued & Surrendered Cards.
Value Added Services:
Promotional message details
Providing financial & non- financial information from Call Center.
Suggestion for proper use of customer money
Campaign Information
Theme Of The Month
Call Center Agents cant accommodate the following Client Categorys relating to A/C related Services
1. Limited Company account holders
2. Any partnership account holders
3. Joint account holders with MOP jointly.
4. Any mandates except Probashi account mandates
5. Nominees
Call Center in a nut-shell
In a nut-shell, Call Center is playing a vital role for BRAC Bank Valued Guests in daily life. Technology can be the same for any company but what differs from BRAC Bank is the service quality that is provided by our employees. BRAC Bank Call Center promises to ensure that image.
Tale Sales
The vision of tale sales is to ensure the retention of the existing client by increasing the number of products own by each client. In other terms tale sales will be working with the objective that a client will own a product portfolio rather than a single product. It will enable to restrain the competition from snatching the client away.
Now the advantage that the competitors are taking is that they are offering an increased benefit on one single attributes of the product like .25% increased interest rate, time flexibility etc. and taking the clients away as most of the clients do not any other involvement. But if the clients own a portfolio it will be difficult for the competitors to offer the entire product portfolio as they do not have the entire range and at the same time even they have the entire product line it will be difficult for them to offer an increased benefit for all the products.
So tale sales would primarily work as a sales channel for the retail banking division and would deal the existing and upcoming client database. By devising interactive software information regarding the clientale will be collected and basing on that information tale sales would initiate the selling process and would be closed by the direct sales team. As long as the required software which is named as Business intelligence Tool (B I Tool) is not ready to be operated information regarding the existing clients would be generated manually basing on various assumptions with the help of Business Solution Department. With that information the team would carry on its operation.
Tale sales will also deal the references created from the existing client and references provided by the other sources at the same time. It will collect secondary databases from various organizations. So along with dealing the existing clients of the bank it will also deal the fresh potential clients.
By definition tale sales means selling other products of the organization to an existing client i.e. selling a deposit or a loan to client having a CASA account. But the team would not limit its activity on tale sales only it would involve itself in up selling also as tale sales is closely associated with up selling. Up Selling refers to the additional sales of the same product to the same client
tale sales team of BRAC Bank is first of its kind in the Bangladeshi banking industry. No other bank so far has introduced the concept of tale sales as such BRAC Bank did. Though it is a common practice of the individuals in the entire industry to cross sell but it is neither a team effort nor backed up the organization of that individual.
Vision
To retain our existing clients by making them enjoying the competitive benefits of having a product portfolio rather than a single product and attaching their confidence and emotion to the bank in such an innovative way which in return will ensure an increase in market share and long term sustainability of the bank at the same time.
Mission
To ensure the retention of the existing clients and exceed their expectations, which would require targeting the followings:
Achieve a bench mark of 1:3 client product use ratio
Present a wide array of products to clients in an innovative way
Objectives
To ensure retention of the existing clients
To increase the size of the product portfolio of each client
To grab the untapped business opportunity within the existing clients
To restrain the competition
To leverage on the effort given by the other value centers and channels
To increase the market share in terms of FUM
To raise the image of the bank in the mind of the existing and potential client
Selling Process
Products: Liability
Step 1 : Calls made by the tale sales Executives
Step 2 : Interested clients referred to the Direct Sales Executives
Step 3 : Sales closed by the Direct Sales Executives
Products: Asset
Step 1 : Calls made by the tale sales Executives
Step 2 : Interested clients referred to the Direct Sales Executives
Step 3 : Direct Sales Executives collects the necessary documents and fill up the forms and submit it or forms are filled up by the tale sales Executives and submitted by Direct Sales Executives
Commission: Shared between tale sales & Direct Sales Executives at 40:60 ratio
Consequently it can easily be concluded; developing the use of alternate channels is now seen as an important strategy for delivering significant savings for BRAC Bank Ltd. BBL plans to invest into the development of alternate banking where efficiency savings can be realized. In the future we have plans of expanding our services significantly by adapting state of art technology in order to satisfy the needs of our clients at an optimum level and convert brick of the mortar concept to click of the mortar concept.
Parts of ADC
Most broadly defined, Alternative delivery channels are all channels that allow service delivery without face-to-face communication. Within this definition, Alternative delivery channels include:
Call Centers;
Interactive Voice Response (IVR) systems;
Kiosks;
Automated Teller Machines (ATM);
Bills Pay Machine (BPM) / Cash Deposit Machine (CDM)
Point of Sales (POS)
Internet websites;
Simple Message Service (SMS);
Call Center
A call centre is a centralized office used for the purpose of receiving and transmitting a large volume of requests by talephone.
A call centre is operated by a company to administer incoming product support or information inquiries from consumers. Outgoing calls for talemarketing, clientale, and debt collection are also made.
IVR
Interactive Voice Response or IVR is a phone technology that allows a computer to detect voice and touch tones using a normal phone call. The IVR system can respond with pre-recorded or dynamically generated audio to further direct callers on how to proceed. IVR systems can be used to control almost any function where the interface can be broken down into a series of simple menu choices. Once constructed IVR systems generally scale well to handle large call volumes.
NSR
Natural speech recognition provides the unique ability for automated call systems to really understand what customers are saying. Instead of having to listen to a long menu of choices, customers can simply say, "I just want to know my account balance", and speech recognition solution will immediately deliver the information they want. Natural speech recognition saves the customer time, and improves overall business efficiency as a whole.
Kiosk
An kiosk is a computer terminal that provides information access via electronic methods. Integration of technology allows kiosks to perform a wide range of functions. A banking kiosk can provide the ability for customers to perform transactions that may normally require a bank teller. Such as:
Cheque Deposit
Personal inquiries
Internet Banking
Customer tool support
Marketing tool
MIS reporting
ATM
An automated teller machine or automatic teller machine (ATM) is a computerised talecommunications device that provides a financial institution's customers a method of financial transactions in a public space without the need for a human clerk or bank teller. Using an ATM, customers can access their bank accounts in order to make cash withdrawals (or credit card cash advances) and check their account balances. Many ATM's also allow people to deposit cash or checks, transfer money between their bank accounts, pay bills, or purchase goods and services.
Bills Pay Machine (BPM) / Cash Deposit Machine (CDM)
An Bills Pay Machine (BPM) / Cash Deposit Machine (CDM)is a computerised talecommunications device that provides a financial institution's customers a method of financial transactions in a public space without the need for a human clerk or bank teller. Using an BPM / CDM, customers can deposit their money or cheques and pay utility bills.
Point of Sales (POS)
This can mean a retail shop, a checkout counter in a shop, or a variable location where a transaction occurs in this type of environment. Additionally, point of sale sometimes refers to the electronic cash register system being used in an establishment. Point of sale systems are used in restaurants, hotels, stadiums, casinos, as well as retail environments in short, if something can be sold, it can be sold where a point of sale system is in use.
Internet
The content of the Web site is outside the scope of this discussion, however, carefully profile the customers that will use this media, and keep monitoring it. Typically today it will be business users, and the more sophisticated personal customers. Tailor the services to meet these segments. Provision of actual transactions requires careful planning and the security implications are fraught with problems, as with any on line service, such as the method to be used to positively identify the customer with enough confidence to execute a financial transaction. However, these problems are not insurmountable, and among the many methods available today there are some that are workable without excessive complication of the user interface.
Banks today are offering on the Internet:
Transaction inquiries
Credit card applications
Statement inquiries
Bill payment
Services directories
Personal finance package interfaces (to Intuit etc.)
and the list is growing daily. One aspect that requires consideration is whether interfaces to popular financial managers should be provided, or Web only content.Simple Message Service (SMS
SMS Banking services are operated using both Push and Pull messages. Push messages are those that the bank chooses to send out to a customer's mobile phone, without the customer initiating a request for the information. Typically push messages could be either Mobile Marketing messages or messages alerting an event which happens in the customer's bank account, such as a large withdrawal of funds from the ATM or a large payment using the customer's credit card, etc. (see section below on Typical Push and Pull messages).
Pull messages are those that are initiated by the customer, using a mobile phone, for obtaining information or performing a transaction in the bank account. Examples of pull messages for information include an account balance enquiry, or requests for current information like currency exchange rates and deposit interest rates, as published and updated by the bank.
The banks customer is empowered with the capability to select the list of activities (or alerts) that he/she needs to be informed. This functionality to choose activities can be done either by integrating to the Internet Banking channel or through the banks customer service call centre.
Why ADC is introduced by BBL?
BRAC Banks developments in alternative delivery channels are relatively new, reflecting developments in, and the diffusion of, new information and communications technology. The focus of BRAC Banks channels has, to date, been mainly on service providing activity. Alternative channels provide a means for clients to obtain service and information via such means as:
ATM
CDM
POS
In addition to these available delivery channels, Job center Plus has conducted a number of service delivery pilots using such channels such as tale banking, text messaging INTERNET banking.
The main driver of the introduction of alternative channels was, initially, the desire to widen the range of customer services available. Alternative channels were seen as a means of adding to the front line services and complementing face-to-face contact. Now BRAC Bank Ltd. funding significantly and created a new focus on efficiency and cost saving. Developing the use of alternative channels is now seen as an important strategy for delivering significant savings for BRAC Bank Ltd. plans to invest into the development of alternative channels where efficiency savings can be realized. So far, the take-up of the current alternative channels by clients has been low.
Products & Services of ADC
BRAC Bank Limited has introduced the following products and services to enrich its Alternative Delivery Channel Department:
Products
Debit Card
Co-Branded Cards
Arong Card
Alico Card
Diagold Card
VISA Debit Card
Services
Automated Teller Machine (ATM)
Cash Deposit Machine (CDM)
Internet Banking
SMS Banking
Point of Sales
Debit Card
A debit card is a plastic card which provides an alternative payment method to cash when making purchases. Its functionality is more similar to writing a check as the funds are withdrawn directly from the cardholder's . bank accountThe detail of BRAC Bank Debit Cards are stated bellow:
Co-Branded Cards
BRAC Bank Limited has introduced the following Co-branded cards by tie-ups with different strategic partners:
Arong Card:
Facilities:
5% discount on each time purchase from Arong using the Arong card.
Daily Maximum ATM transaction BDT. 20,000/- (Twenty Thousand))
Daily Maximum POS transaction (Cash) BDT. 100,000/- (One Lac)
Daily Maximum POS transaction (Purchase) BDT. 100,000/- (One Lac)
Service Charge:
The annual service charge is BDT. 500 + 15% VAT.
Alico Card:
Facilities:
Life insurance coverage from BDT 2,000/- to BDT. 2,00,000/-.
Daily Maximum ATM transaction BDT. 20,000/- (Twenty Thousand))
Daily Maximum POS transaction (Cash) BDT. 100,000/- (One Lac)
Daily Maximum POS transaction (Purchase) BDT. 100,000/- (One Lac)
Service Charge:
The annual service charge is BDT. 500 + 15% VAT.
Diagold Card:
Facilities:
10% discount on Diamond purchase from Diagold using the Diagold Card.
8% discount on Gold purchase from Diagold using the Diagold Card.
Daily Maximum ATM transaction BDT. 20,000/- (Twenty Thousand))
Daily Maximum POS transaction (Cash) BDT. 100,000/- (One Lac)
Daily Maximum POS transaction (Purchase) BDT. 100,000/- (One Lac)
Service Charge:
The annual service charge is BDT 500 + 15% VAT.
VISA Debit Card
Facilities:
Usable at any outlet of VISA and BRAC Bank Ltd. (countrywide).
Daily Maximum ATM transaction BDT. 50,000/- (Fifty Thousand)
Daily Maximum POS transaction (Cash) BDT. 100,000/- (One Lac)
Daily Maximum POS transaction (Purchase) BDT. 300,000/- (Three Lac)
Service Charge:
The annual service charge is BDT 520 + 15% VAT.
ATM
At present BRAC Bank Limited has 175 ATM's across the country. Numbers of ATM's (Zone wise) are given bellow:
Dhaka Zone 136 ATM's
Chittagong Zone 11 ATM's
Sylhet Zone 11 ATM's
Rajshahi Zone 3 ATM's
Khulna Zone 4 ATM's
Barisal Zone 3 ATM's
Rangpur Zone 4 ATM's
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Facilities of BRAC Bank ATM:
Withdraw cash 24 hours a day by using Credit / Debit cards.
Account balance inquiry
Account mini statement
Pin change of Debit / Credit Card
Service Charge:
No service charge is taken for using BRAC Bank ATM.
Upcoming facilities:
Cheque book request
Utility and / Household bill payment.
Fund transfer to other accounts of BRAC Bank Ltd.
CDM
At present BRAC Bank Limited has 30 CDMs and all of those are Dhaka zone based.
Facilities of BRAC Bank CDM:
Deposit cash at any time up to BDT. 20,000/- (Twenty Thousand) at once.
Deposit cheque / draft / pay order of any amount.
Service Charge:
No service charge is taken for using BRAC Bank CDM.
Internet Banking (BRAC Bank Direct)
All account holders of BRAK Bank Ltd. are eligible to enjoy the Internet Banking Service offered as BRAC Bank Direct. Client who wants to use the Internet banking facility has to register by providing a valid email address for the service.
Facilities of BRAC Bank Direct:
Account information.
Loan information.
Account balance inquiry.
Account mini statement.
Cheque status.
Lost card (Debit / Credit) reporting
Loan calculator.
Own account fund transfer.
Service Charge:
Annual service charge is BDT 200 + 15% VAT.
Upcoming facilities:
Open an account
Make a payment
Set up automatic payment
Receive bills electronically
Request e-mail notification
Review payments
Make a transfer
Review Transfer
Add account
Order checkbook
Order statement copy
Stop check payments
Stop sending cancelled check
View paper statement
Calculator: balancing your checking account.
Mobile recharge
Order a Demand Draft / Pay Order
Request for Duplicate Physical Bank Statement
SMS Banking:
All account holders of BRAC Bank Ltd. are eligible to enjoy the SMS Banking Service offered by BRAC Bank Ltd. Client who wants to use the SMS banking facility has to register by providing a valid mobile phone number (Grameen Phone or Aktel) for the service.
Facilities of BRAC Bank SMS Bank:
Information of last 3(three) transactions.
Account balance inquiry.
Credit Card Limit Check.
Credit Card due amount check.
Last date of payment check (Credit Card bill)
SMS Alert System:
Deposit alarm.
Maturity alarm.
Withdrawal alarm.
Account status change alarm.
Loan payment failure alarm.
Service Charge:
Annual service charge is BDT 200 + 15% VAT.
Point of Sales
Currently BRAC Bank Ltd. has more than 400 (Four Hundred) POS at different renowned outlets across the country.
Facilities of BRAC Bank POS:
From POS at bank branches, customer can withdraw cash (Maximum of BDT 3, 00, 000/-) using his / her BRAC bank cards (Debit / Credit).
From POS at different outlets, customer can purchase products (Maximum of BDT 1, 00, 000/-) using his / her BRAC bank cards (Debit / Credit).
Service Charge:
No service charge is taken for using BRAC Bank
Comparison of BBLs ADC with Some Other Banks of Bangladesh
Debit CardATMBPM / CDMIBSMSPOSPB
BBLYYYYYYY
SCBYYYYYYY
HSBCYYYYNYN
DBBLYYYYYYN
EBLYYYYYYN
BBL = BRAC Bank Limited
SCB = Standard Chartered Bank
HSBC = Hong Kong Shanghai Banking Corporation
DBBL = Dutch Bangla Bank Limited
EBL = Eastern Bank Limited
Growth of BBL ATM's
In the end of year 2005: (No of ATM's 8)
In the end of year 2006: (No of ATM's 11)
In the end of the year 2007: (No of ATM's 32)
In the end of the year 2008: (No of ATM's 59)
In the end of the year 2009: (No of ATM's 65)
Total Number of ATM's In a chart over the country: (No of ATM's 175)
OBJECTIVES
To gain understanding of the various ATM services of BRAC Bank.
To gain under standing of how ATM concepts affect day to day decision in the Bank.
FINDINGS OF THE REPORT
BRAC Bank ATM service is now the fastest service within any other banks.
CDM service is only one which shows a booth as a branch of BRAC Bank.
Phone banking provides 24 hours services of the bank.
SMS service provides a customer's instant alert of any transaction or balance inquiry.
Through a ATM, a customer could get a mini statement of his/her account without any cost.
RECOMMENDATION
BRAC Bank should ensure faster delivery of ATM Cards. Now it requires 3-5 days while some competitor could provide it within 2 days.
Its some charges and fees are quite impractical. Relatively high for the middle and lower middle class.
It is found from my experience in BRAC Bank that a portion of total customer say that their complains not resolved immediately. Establishment of a separate customer complains cell may help to resolve the customers problems.
BRAC Bank should increase their profit rate on different deposit scheme.
BRAC Bank should reduce the downtime of an ATM.
CONCLUSION
Thus I had the opportunity to work for this reputed Bank. I was placed in the ATM and CDM service of BRAC Bank, Head Office. During this time I got an opportunity to observe the overall service process of BRAC Bank personal banking division.
It is my pleasure to submit my field study report provided by BRAC Bank. While preparing this report, I have tried to gather as possible & to gather all the information pertain the report to enrich it. I believe that it was a fascinating experience to work live in the banking sector & it was enriched both my knowledge & experience.
BIBLIOGRAPHY
Web Site:
http://www.bracbank.comOthers:
Various types of publications of BRAC Bank Limited
Different periodicals BRAC Bank Limited AssignmentPoint.com asadsaimon.comPART 1INTRODUCTION
PART 2ALTERNATIVE DELIVERY CHANNEL
PART 3GROWTH OF BBL ATM's WITH GRAPH
PART 4CONCLUSION
Graph: BRAC Bank ATM Network (Zone wise)
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