The Structure of Financial System of Bangladesh -

Shall be able to accept payment from all reputed bank transfer facilities for customer flexibility.

Electronic transfer- this is a type of digital money transfer that involves transfer of money from one bank to another without direct interference of bank staff. Electronic transfer transactions are known by a lot of names Direct deposit- this is the type of transfer of money where the money is sent from an account into another account. It is often mixed with direct debit which is the complete opposite. Direct deposit involves pushing money out of an account while direct debit involves pulling money out of an account ECheck transfer-

Banking-related transactions that typically take long span of processing can now be done in just a few minutes, or even seconds. Aside from this, there are still other brilliant benefits that the IT has contributed to the finance sector, which may bring not only advantages but also possible drawbacks.

Internet banking has made bank transaction easy and convenient in the sense that people can do the transactions from anywhere they, desire to i.e in the home, offices, and schools. It has helped to avoid unnecessary trips to the bank.

About Ten years ago SINGER Bangladesh Ltd first time introduce IT system in its organization. There are more than 50 computers in the BMO. At present network infrastructure is suffering from various limitation with its back dated

Cash remitting from one place to another is risky. So, Banks remit funds on behalf of the customer(s) to save them from any awkward happening through network of their Branches. There are three modes of remitting funds. These are –

As ATM machines and the internet became ubiquitous in use for transactions, it forced Bank of the West to take a deep dive on all the different ways customers interact with the bank, and how the multitude of products/services can be combined to various packages to present better and more targeted combination of products and services.

For service providers, Mobile banking offers the next surest way to achieve growth. Countries like Korea where mobile penetration is nearing saturation, mobile banking is helping service providers increase revenues from the now static subscriber base. Also service providers are increasingly using the complexity of their supported mobile banking services to attract new customers and retain old ones.

Online banking facilities so that the applicant can do all their transactions from the comfort of their home.

The change and advancement in technology are a significant factor in the banking business. Technology has led to tremendous improvements in this industry. Since the commencement of this millennium, people have shown great love for their mobile phones (Ozaki 1992). It necessitated the invention of mobile applications (APPs). From the introduction of the mobile banking, APP people rarely go to the banks. All their transactions get done simply by the stroke of a finger. Businesses face a challenge of adapting to changes in the technology sector. Mobile banking either through actual investing or any other means is on the rise.

Nowadays using mobile banking make checking and making payments from your account a lot easier because you are able to check your balance and then transfer money were needed

With the advance technology, banking has become a 24 hours a day and seven days a week ability. Not too long ago banks were only open from 9:00am to 3:00pm, workers and businesses rushing to get to the bank before they close. Paychecks were handed out personally not direct deposit, cashing or depositing a paycheck entailed a trip to the bank. Now most companies have direct deposit and the printed paycheck is becoming a thing of the past, this is only one example of how technology in banking has changed in society. The electronic banking (e-banking) can be described as the automated method of new and traditional banking services which reduce cost, and simplify front and backend process satisfying customers.

In modern life we cannot think without banks and financial institutions. All financial transactions such as export, import, buying, selling, loan and borrowing are dependent on bank system. Economic stability socio-economic development, international business affairs all are interrelated with banking system. The history of banking system is old. It is derived from reserve system of grains and after exchange of money. History of banking system in our subcontinent especially our country is not old. Bangladesh is a developing country, in where, limited resources, burden of overpopulation, economic instability, political instability, corruption, natural disaster, are always hindering the development. The high performance of remittance has a greater contribution in present economic stability of the country, when we can convert the burden of overpopulation toward better human resource through effective human resource management, skill development program, training, education, creating new working sector to reduce unemployment, emphasis on entrepreneurship. Only banking system or financial institutions may convert the overpopulation into better human resource by providing soft loan for building new working sector for employment, encouraging people to be efficient in one’s working aria. This assignment has been written or created on the basis of performance management in banks and financial institutions in perspective of Bangladesh. Performance management is an

Apart from that the respondents felt RICB Multifaceted Business structure is one of the company’s existing strength thus the adoption of electronic payment platform will provide customers the convenience of investment, insurance, and social security’s services under one umbrella. With the introduction of this electronic mode of transfer of funds, the inconveniences and delays associated with the current cash and other paper based transfer of funds such as cheques and drafts shall be minimized as the participants will be able to settle their transactions efficiently and faster(RMA,

The process of globalization and liberalization has virtually transformed the way of running business across the globe. Technology has entered into every sphere of the human life and the financial sector is no exception to it. E-banking, a product of the research conducted in the field of banking and financial services over the last century, is being used in India for some time now in the form of digital data in computers, Automated Teller Machines, credit and debit cards, mobile banking and net banking. Internet or e-banking means that any user with a personal computer and a browser can get connected to his bank’s website to perform any of the virtual banking functions. E-banking services can be availed for payment of bill, fund transfer,