An Internship Report On

“Impact of Digital Banking on Customer Experience

and FinTech Integration: A Study on Janata Bank
PLC”

Department of Tourism and Hospitality Management

Faculty of Business Studies
University of Dhaka

Supervised by
Dr. Santus Kumar Deb
Professor
Department of Tourism and Hospitality Management.
Faculty of Business Studies
University of Dhaka

Submitted by
Md. Arif
Student ID: 106, BBA 13th Batch
Department of Tourism and Hospitality Management.
University of Dhaka
Date of Submission: 24th April, 2025

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“Impact of Digital Banking on Customer
Experience and FinTech Integration: A
Study on Janata Bank PLC”

2
 Letter of Transmittal

22th April, 2025

Dr. Santus Kumar Deb
Professor
Department of Tourism and Hospitality Management
University of Dhaka

Sub: Submission of Internship Report on Impact of Digital Banking on Customer

Experience and FinTech Integration: A Study on Janata Bank PLC

Dear Sir,
I am here by submitting my Internship Report entitled " Impact of Digital Banking on
Customer Experience and FinTech Integration: A Study on Janata Bank PLC ( Dhaka
University TSC Branch) " which was assigned to me as a requirement for the completion
of the BBA Program. I have discovered this study very interesting, beneficial and
insightful.

The entire report is based on my practical experience in the Janata Bank PLC at Dhaka
University TSC Branch. Expect this report to be informative as well as comprehensive.
This Internship program and preparation of report has given me the opportunity to
gather knowledge about banking system and will help me a lot in my future career life.
Thank You very much for your guidance and co-operation during the internship period. I
hope you will assess my report considering the limitations and mistakes of the study, and
sincerely believe you will find the study very interesting and informative.

Sincerely yours
-----------------
Md. Arif
ID No. 106,
BBA 13th batch
Department of Tourism and Hospitality Management
University of Dhaka

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 Student's Declaration

I, Md. Arif, hereby declare that the report of the internship entitled " The Impact of
Digital Banking on Customer Experience and FinTech Integration: A Study on Janata
Bank PLC" is the original work done by me under the guidance of Prof. Dr. Santus
Kumar Deb, Professor, Department of Tourism and Hospitality Management, for the
partial fulfillment of the requirement of BBA program at University of Dhaka.

I also declare that this report is only prepared for my academic requirement, not for
any other purpose. I also confirm that the report has not been copied from anywhere
and submitted anywhere in journal, department, etc. yet.

……………………

Md. Arif

ID No. 106, BBA 13th Batch

Department of Tourism and Hospitality Management

University of Dhaka

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 Certificate of Supervisor

This is to certify that Md. Arif, student ID No. 106, Academic Session 2019-20, Major
in Tourism and Hospitality Management is a student of the BBA Program, Department
of Tourism and Hospitality Management, University of Dhaka. He has conducted his
report on The Impact of Digital Banking on Customer Experience and FinTech
Integration: A Study on Janata Bank PLC under my supervision. I recommend
submitting the report for further necessary action.

The Report has been prepared under my guidance and is a record of the bonafide
work carried out successfully.

I wish him success in all his future endeavors.

-------------------------------------

Dr. Santus Kumar Deb

Professor
Department of Tourism and Hospitality Management
University of Dhaka

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 Acknowledgments

I feel immensely pleased to have an opportunity, on the very occasion of submitting

my report, to thank a number of individuals for their unprecedented support, cordial
cooperation, objective direction and endless encouragement that have significantly
contributed to the preparation of the report. First and foremost, I would like to thank
almighty Allah, the omniscient and omnipotent, who bestowed me the capability of
successful completion of my internship report.

I want to thank my academic supervisor Dr. Santus Kumar Deb, Professor, Department of
Tourism and Hospitality Management, University of Dhaka , for providing me all the necessary
helps for completion of this report. I want to give the greatest thanks to Sir for guiding me as
an advisor to start and complete this report successfully.
Before continuing further, the internship opportunity I had with Janata Bank PLC was
a great chance for learning and professional development. I consider myself as a very
lucky individual as I was provided with an opportunity to be a part of it. I am also
grateful for having a chance to meet so many wonderful people and professionals who
led me through this internship period. I would like to thank Mujibur Rahman Branch
Manager of Janata Bank PLC Dhaka University TSC Branch and my organizational
supervisor help me with all their capabilities and affections.

I am additionally grateful to some other person for being so cooperative with me and
for no longer being struck by my enthusiasm. Lastly, I can say my supervisor assists
me a lot and provides a massive time that has enabled me to make first-rate use of
my time and accordingly enriched myself with a ride that is well worth greater in the
upcoming future.

---------------

Md. Arif

ID No.106

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 Executive Summary
This report presents an in-depth analysis of how digital banking and the integration of
financial technologies (FinTech) have influenced customer experience at Janata Bank
PLC, particularly at its Dhaka University TSC Branch. As the global banking sector
continues to embrace digital innovation, Janata Bank—one of Bangladesh’s leading
state-owned banks—has initiated several modernization efforts aimed at improving
service accessibility, operational efficiency, and overall customer satisfaction.The
report is grounded in both primary data, collected through structured questionnaires,
and secondary data, including institutional publications . The primary goal is to
evaluate customer satisfaction with digital banking services, identify key challenges,
and propose actionable strategies to advance the bank’s technological initiatives.

Findings from the study indicate that customers appreciate the ease, security, and
availability provided by Janata Bank’s digital services. Tools such as online banking,
mobile money platforms (like bKash and Rocket), and automated transactions have
enabled users to perform their financial tasks with greater flexibility. Despite these
advancements, customers continue to face issues related to slow system
performance, unsuccessful transactions, and insufficient digital customer support.
Additionally, a lack of digital literacy among certain segments—especially rural and
elderly users—poses a significant barrier to full-scale adoption. The report also
reviews Janata Bank’s current efforts in FinTech integration, including the use of
artificial intelligence for customer service, blockchain for secure documentation, and
biometric systems for secure authentication.Throughout the internship, the author
gained practical exposure in several departments such as general banking,
remittances, loans, and digital support. These hands-on experiences were
instrumental in understanding how the bank’s traditional operations are transitioning
through digital means.

The report concludes by offering strategic recommendations to improve Janata Bank’s

digital transformation. These include upgrading technological infrastructure,
enhancing customer support channels, strengthening cybersecurity protocols,
increasing awareness through digital literacy programs, and expanding the scope of
FinTech-enabled services. With these measures, Janata Bank can enhance its service

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quality, meet evolving customer expectations, and remain competitive in the digital
banking landscape of Bangladesh.

This report offers valuable insights for financial institutions, regulators, and
researchers interested in digital banking evolution and customer-centric innovation.

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Table of Contents
Letter of Transmittal.................................................................................................... 3
Student's Declaration ................................................................................................. 4
Certificate of Supervisor ............................................................................................. 5
Acknowledgments ...................................................................................................... 6
Executive Summary ................................................................................................... 7
Chapter 1: Introduction ............................................................................................. 12
1.1 Background of the Study ................................................................................ 12
1.2Report Objectives ............................................................................................ 13
1.3 Significance of the report ................................................................................ 13
1.4 Scope and Limitations of the report ................................................................ 14
Chapter 2: Overview of Janata Bank PLC ................................................................ 15
2.1 Historical Background ..................................................................................... 15
2.2 Vision and Mission .......................................................................................... 16
2.4 Organizational Structure ................................................................................. 18
2.5 Branch Network and Accessibility ................................................................... 19
2.6 Key Products and Services ............................................................................. 19
2.7 Digital Transformation and Technological Advancement ................................. 20
2.8 Internship Work Experience at Janata Bank PLC ........................................... 21
Chapter 3: Literature Review .................................................................................... 24
3.1 Evolution of Digital Banking ............................................................................ 24
3.2 Financial Technology (FinTech) and Innovation .............................................. 25
3.3 Influence of Digital Services on Customer Experience ................................... 25
3.4 Challenges in Digital Banking Implementation ................................................ 25
3.5 Integration of FinTech in Conventional Banking .............................................. 25
Chapter 4: Methodology ........................................................................................... 27
4.1 Introduction ..................................................................................................... 27
4.2 Research Design ............................................................................................ 27
4.3 Research Objectives....................................................................................... 27
4.4 Data Collection Methods ................................................................................. 28
4.5 Sampling Strategy and Population.................................................................. 28
4.6 Respondent Demographics ............................................................................ 29
4.7 Data Analysis Techniques ............................................................................... 29

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Chapter 5 : FinTech and Its Integration in Janata Bank PLC .................................... 30
5.1 Definition and Concept of FinTech .................................................................. 30
5.2 Evolution and Growth of FinTech in Banking .................................................. 30
5.3 Key FinTech Innovations in Banking ............................................................... 31
5.3.1 Artificial Intelligence (AI) and Machine Learning ....................................... 31
5.3.2 Blockchain and Cryptocurrencies ............................................................. 31
5.3.3 Mobile Payment Solutions and E-Wallets ................................................. 31
5.3.4 Biometric Authentication and Security Technologies ................................ 32
5.4 Benefits of FinTech Integration in Banking ...................................................... 32
5.5 Challenges and Risks of FinTech Adoption ..................................................... 32
Chapter 6: Digital Banking Services at Janata Bank PLC ........................................ 34
6.1 Digital Banking Services Offered by Janata Bank ........................................... 35
6.1.1 Mobile Banking......................................................................................... 36
6.1.2 Internet Banking ....................................................................................... 36
6.1.3 ATM and Card Services............................................................................ 36
6.1.4 Online Bill Payment and Fund Transfers .................................................. 37
6.1.5 Loan and Credit Services Through Digital Platforms ................................ 37
6.2 Technology Infrastructure Supporting Digital Banking..................................... 38
6.3 Security Measures in Digital Banking at Janata Bank ..................................... 38
Chapter 7: Impact of Digital Banking on Customer Experience ................................ 39
7.1 Understanding Customer Experience in Banking ........................................... 39
7.2 Factors Influencing Customer Satisfaction in Digital Banking ......................... 41
7.3 Advantages of Digital Banking for Customers ................................................. 42
7.4 Customer Challenges in Digital Banking Usage ............................................. 44
7.5 Strategies for Enhancing Customer Experience in Digital Banking................. 46
7.6 Challenges and Future Trends in Digital Banking and FinTech in Janata Bank
.............................................................................................................................. 48
7.6.1Key Challenges in Digital Banking Adoption.............................................. 48
7.6.2 Cybersecurity and Data Privacy Concerns ............................................... 48
7.6.3 Regulatory and Compliance Issues .......................................................... 49
7.6.4 Digital Literacy and Accessibility Challenges............................................ 49
7.6.5 Future Trends in Digital Banking and FinTech .......................................... 50
Chapter 8: Key Findings and Discussion.................................................................. 51

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 8.1 Overview......................................................................................................... 51
8.2 Key Findings from Customer Feedback .......................................................... 51
7.3 Discussion of Findings .................................................................................... 52
Chapter 9: Recommendations and Conclusion ........................................................ 54
9.1 Recommendations .......................................................................................... 54
9.2 Conclusion ...................................................................................................... 55
References ............................................................................................................... 57
Appendixes: ............................................................................................................. 58

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 Chapter 1: Introduction
1.1 Background of the Study
The financial sector has undergone a significant transformation in recent years, driven
by technological advancements and the rise of digital banking. Traditional banking,
once characterized by in-person transactions, paper-based processes, and physical
branch visits, has evolved into a digital-first ecosystem where customers can access
banking services anytime and anywhere. This shift has been fueled by the rapid
adoption of financial technology (FinTech), which has revolutionized banking
operations and customer experiences worldwide.

Digital banking refers to the use of online platforms, mobile applications, and
automated systems to offer financial services without the need for physical interaction.
It encompasses a wide range of services, including internet banking, mobile banking,
electronic fund transfers, online payments, and digital loan processing. With the
emergence of artificial intelligence (AI), blockchain, big data analytics, and biometric
authentication, digital banking has become more secure, efficient, and customer-
centric.

FinTech, a key driver of digital banking, has introduced innovative solutions that have
enhanced banking accessibility, security, and financial inclusion. The integration of
FinTech with traditional banking institutions has enabled banks to streamline
operations, reduce costs, and offer personalized banking services to customers.
Digital payment gateways, mobile wallets, robo-advisory services, and blockchain-
based transactions are some of the key innovations reshaping the banking sector.

In Bangladesh, digital banking has seen significant growth in recent years, particularly
with the introduction of mobile financial services (MFS) such as bKash, Rocket, and
Nagad. Banks, including state-owned institutions like Janata Bank PLC, have
recognized the importance of digital banking and are investing in technology to
improve customer experience and operational efficiency. However, despite these
advancements, challenges such as cybersecurity threats, regulatory compliance,

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digital literacy gaps, and infrastructure limitations continue to pose hurdles for full-
scale digital transformation.

This study focuses on Janata Bank PLC, one of Bangladesh’s leading public sector
banks, and examines how its digital banking initiatives have impacted customer
experience and financial service delivery. It also explores the role of FinTech in
enhancing banking operations and identifies areas for further improvement in digital
banking services.

1.2Report Objectives
The primary objective of this report is to evaluate the impact of digital banking on
customer experience and FinTech integration at Janata Bank PLC. The specific
objectives are:

 To assess the effectiveness of digital banking services provided by Janata Bank

PLC.
 To evaluate customer satisfaction with the bank’s digital banking offerings.
 To examine the role of FinTech in enhancing digital banking services at Janata
Bank.
 To identify challenges faced by customers and the bank in adopting digital
banking solutions.
 To provide strategic recommendations for improving digital banking operations
and customer engagement.

1.3 Significance of the report

This report is significant for multiple stakeholders, including banking professionals,
policymakers, customers, and researchers.

 For Janata Bank PLC: The report provides valuable insights into customer
perceptions, service effectiveness, and potential areas for improvement in
digital banking.
 For the Banking Industry: The findings can serve as a benchmark for other
banks in Bangladesh that are looking to enhance their digital transformation
strategies.
 For Customers: By identifying challenges and proposing improvements, the
report aims to enhance the overall customer experience in digital banking.

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  For Researchers: The research contributes to the academic discourse on digital
banking, FinTech adoption, and customer experience in the financial sector.

1.4 Scope and Limitations of the report

The report focuses exclusively on Janata Bank PLC and examines its digital banking
services, FinTech integration, and customer experiences. It covers a range of services,
including mobile banking, internet banking, and digital payment systems. The research
is based on customer surveys, interviews with bank officials, and secondary data
analysis.

However, the study has certain limitations:

 Limited Generalizability: The findings are specific to Janata Bank PLC and may
not fully apply to other banks.
 Data Constraints: The study relies on survey responses and secondary data,
which may not capture all aspects of digital banking performance.
 Technological Scope: The study does not include an in-depth technical
assessment of Janata Bank’s IT infrastructure or cybersecurity measures.

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 Chapter 2: Overview of Janata Bank PLC
Janata Bank PLC stands as one of the most prominent and oldest state-owned
commercial banks in Bangladesh. It has played a vital role in the economic
development of the country since its inception and continues to contribute to both
public and private sector financial growth. With its broad customer base, widespread
network, and commitment to modernization, Janata Bank PLC acts as a key driver of
financial inclusion and national economic development.

The bank was officially formed in 1972 through the amalgamation of United Bank
Limited and Union Bank Limited under the Bangladesh Bank Order. Over the decades,
it has undergone various transformations in structure, operations, and technological
capabilities, with a strong focus on reaching the unbanked population and fostering
inclusive growth. In 2007, the bank was converted into a public limited company and
renamed Janata Bank Limited. Later, in line with evolving banking regulations, it was
rebranded as Janata Bank PLC.

2.1 Historical Background

The journey of Janata Bank began in the post-independence era when the
Government of Bangladesh took measures to nationalize key financial institutions to
ensure better control over credit flow and to finance the war-torn economy. The merger
of two previously operational banks, United Bank Limited and Union Bank Limited,
gave rise to Janata Bank. Since its establishment, the bank has focused on promoting
economic self-reliance through agricultural and industrial lending, support for small
and medium enterprises (SMEs), and involvement in international trade financing.

Over the decades, Janata Bank has expanded its role from being a traditional bank to
a multifaceted financial institution offering a wide array of services to millions of
customers. It has maintained a strong presence in rural areas, contributing significantly
to rural development, while also staying competitive in urban financial markets.

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2.2 Vision and Mission
Vision:

To become a leading commercial bank in Bangladesh by providing inclusive,

innovative, and customer-oriented financial solutions that contribute to sustainable
national development.

Mission:

 To provide financial services to individuals, SMEs, corporate clients, and

government institutions in an efficient and ethical manner.
 To enhance customer satisfaction through technological innovation, integrity,
and professionalism.
 To promote financial inclusion, especially in underserved and remote areas.
 To ensure transparency, good governance, and social responsibility in all
aspects of banking operations.

2.3 Core Values

Janata Bank PLC operates based on several core values that guide its actions and
corporate culture:

Integrity: Upholding the highest ethical standards in all banking operations.

Customer Centricity: Placing customer needs and satisfaction at the center of service
delivery.

Transparency: Maintaining openness and accountability in all financial transactions.

Innovation: Leveraging modern technology and innovation to improve banking

services.

Inclusion: Serving all sectors of society, particularly the underbanked and marginalized
communities.

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Social Responsibility: Contributing to national development and social welfare through
proactive initiatives.

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2.4 Organizational Structure
Janata Bank PLC is administered through a well-defined hierarchical structure
comprising a Board of Directors, executive committees, and operational departments.
The Board includes representatives from the Government of Bangladesh and
experienced professionals in the banking sector.

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At the top is the Managing Director (MD) and CEO, who oversees the implementation
of strategic goals and ensures operational efficiency. Reporting to the MD are Deputy
Managing Directors and General Managers who head various functional areas such
as:

 Retail Banking Division

 Corporate and Investment Banking Division
 International Trade and Foreign Exchange Division
 SME and Agricultural Financing Division
 IT and Digital Banking Division
 Risk Management and Compliance Division
 Human Resource Management Division
 Audit and Inspection Department

This structure ensures strategic decision-making, effective internal control, and

efficient delivery of banking services.

2.5 Branch Network and Accessibility

Janata Bank PLC maintains an extensive domestic and international branch network
to serve a wide and diverse customer base:

More than 900 local branches across all 64 districts of Bangladesh. Over 100 sub-
branches in remote areas to enhance financial inclusion. Overseas branches and
representative offices in the UAE and other regions to serve expatriate Bangladeshis.
Numerous ATMs, POS terminals, and mobile banking agents for real-time, anytime
banking. This extensive network allows the bank to reach customers in both urban and
rural areas, playing a vital role in national financial integration.

2.6 Key Products and Services

Janata Bank PLC offers a diverse range of financial products and services that cater
to individuals, businesses, and institutional clients.

Retail Banking Services:

 Current and Savings Accounts

 Fixed Deposits and Term Deposits
 Debit and Credit Cards

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  Locker Services
 Online Bill Payments
 Mobile and Internet Banking
 Corporate and SME Banking:
 Project Financing
 Working Capital Loans
 Import and Export Financing
 Agricultural and Rural Credit

Islamic Banking Services:

 Shariah-compliant deposit and investment schemes

 Islamic financing products
 Remittance and International Banking:
 Foreign currency accounts
 Wage earners’ remittance services
 International money transfer partnerships
 Foreign trade services (LCs, Export-Import support)

Digital Banking Services:

 Mobile apps and SMS banking

 Online fund transfers and loan applications
 E-wallet integration
 24/7 banking support through ATMs and digital platforms

2.7 Digital Transformation and Technological Advancement

Janata Bank PLC is in the process of a major digital transformation initiative to meet
the demands of modern banking and customer expectations. The bank has adopted
various technological advancements:

Core Banking System (CBS): Enabling centralized and real-time banking operations.

Mobile Banking Platform (JB-Mobile): For fund transfers, bill payments, and account
monitoring.

Internet Banking : Allowing secure access to account services online.

Automated Teller Machines (ATMs) and POS: Supporting cashless transactions.

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Integration with NPSB and BEFTN: Facilitating interbank electronic payments.

Janata Bank’s ongoing digitalization aims to enhance customer convenience, reduce

operational costs, and improve banking outreach.

2.8 Internship Work Experience at Janata Bank PLC

Branch: Dhaka University TSC Branch

Duration: From 25 January 2025 to 9 March 2025

During my 10-week internship program at Janata Bank PLC, I was fortunate to work
in several key departments within the branch. This hands-on experience provided me
with a deep understanding of the practical aspects of banking operations, customer
service, and digital transformation. The following is a detailed account of my weekly
responsibilities and learning outcomes across different sectors:

Weeks 1–2: General Banking Division

Weeks 3–4: Cash Department

Weeks 5–6: Foreign Remittance and clearing Department

Weeks 7–8: Loans and Advances Department

Weeks 9–10: Digital Banking and Customer Support Services

Weeks 1–2: General Banking Division

In the first two weeks of my internship, I was placed in the General Banking Division,
where I became familiar with the day-to-day operational activities that form the
foundation of branch-level banking. I observed how new accounts are opened and
assisted in the documentation process for both savings and current accounts. I learned
how to verify customer identity documents in accordance with KYC (Know Your
Customer) regulations and understood the procedures related to cheque book
issuance, account maintenance, and transaction requests. I also supported front-desk
officers in guiding customers about basic services, such as ATM applications and
account inquiries. This phase introduced me to the importance of accurate
documentation, customer interaction, and the internal coordination necessary to
manage the high volume of front-office banking activities.

 Observed account opening procedures (savings/current)

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  Verified documents for KYC compliance
 Assisted with cheque book and debit card requests
 Helped customers fill forms and guided them in basic banking services
 Learned about front desk operations and ledger maintenance

Weeks 3–4: Cash Department

In the third and fourth weeks, I was assigned to the Cash Department, which gave me
an opportunity to observe the financial backbone of branch operations. I closely
monitored the procedures of cash receipts and payments at the teller counter. Though
I was not directly involved in handling cash for security reasons, I assisted in tasks like
token issuance and customer queue management. I learned about cash balancing,
cash vault procedures, fake note detection, and currency sorting processes. The staff
also explained how they reconcile transactions at the end of each day. This experience
highlighted the significance of security, precision, and accountability in cash handling
and showed me how this department plays a critical role in maintaining customer trust
and smooth financial transactions.

Weeks 5–6: Foreign Remittance and clearing Department

During the fifth and sixth weeks, I was rotated to the Clearing and Remittance Division,
where I observed both local and international financial transaction processes. I was
introduced to cheque clearing operations and the use of the Bangladesh Automated
Cheque Processing System (BACPS). I assisted in preparing inward and outward
cheque schedules, updating cheque records, and cross-checking documents. I also
gained insight into foreign remittance handling, including SWIFT-based transactions
and regulatory compliance concerning international money transfers. I learned about
foreign currency accounts, remittance disbursement procedures, and the importance
of anti-money laundering (AML) guidelines. This segment of my internship deepened
my understanding of the back-end processing systems that ensure the reliability of
financial transactions on both domestic and global levels.

Weeks 7–8: Loans and Advances Department

In the seventh and eighth weeks, I worked with the Loans and Advances Department,
where I explored the credit facilities offered by the bank. I assisted officers in preparing

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loan application files, verifying documents, and organizing client profiles. I learned
about the different types of loans offered—such as personal loans, SME loans, and
working capital loans—and the required documentation for each. Officers explained
the credit assessment and risk analysis procedures, including how credit scores and
repayment histories are reviewed. I also observed how follow-ups are conducted on
outstanding loans and how recovery notices are managed. This phase helped me
understand the importance of responsible lending, risk management, and the
economic impact of credit services provided by Janata Bank.

Weeks 9–10: Digital Banking and Customer Support Services

In the final two weeks of my internship, I was assigned to the Digital Banking and
Customer Service Desk, where I experienced first-hand how Janata Bank is
transitioning into a more technology-driven service provider. I assisted customers in
registering for internet banking and mobile banking platforms. I observed how bank
employees help customers resolve login issues, reset passwords, and understand
how to use services like online fund transfers and utility bill payments. I also learned
about ATM dispute resolution, SMS banking services, and mobile wallet integrations
(such as bKash and Rocket). Additionally, I participated in digital awareness sessions
conducted for customers to promote safe banking habits. This final phase of my
internship was especially relevant to my academic background and research focus, as
it tied directly into the role of digital banking in enhancing customer experience.

 Assisted in registering customers for internet and mobile banking

 Helped troubleshoot login issues and fund transfer errors
 Educated customers on e-statements, ATM usage, and online safety
 Participated in digital awareness initiatives and tech-support desk
 Explored mobile wallet integration (e.g., bKash, Rocket)

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 Chapter 3: Literature Review
The emergence of digital banking has significantly reshaped the global banking sector
by delivering faster, more accessible, and customer-centric services through digital
platforms such as online banking and mobile applications. As noted by McKinsey &
Company (2023), this transition from conventional branch-based operations to digital
service delivery has enhanced operational efficiency and real-time customer
engagement. In countries like Bangladesh, this evolution is further driven by the
growing availability of smartphones and mobile internet (BTRC, 2023). The
advancement of financial technology (FinTech) is central to this progress, with
innovations like AI-enabled support systems, mobile financial services, and
blockchain-based solutions promoting financial accessibility and streamlining
operations (Accenture, 2021; ADB, 2021). Nevertheless, the shift to digital platforms
is not without its difficulties. Bashar and Akter (2022) point to recurring issues such as
system errors, cyber threats, and limited digital literacy—especially in rural areas—as
barriers to full adoption. Furthermore, state-owned banks, including Janata Bank, often
face obstacles due to outdated infrastructure and slow FinTech adoption (Chowdhury
& Kabir, 2020). Karim and Hossain (2021) stress the importance of enhancing
cybersecurity mechanisms and increasing user awareness to foster greater trust in
digital banking. Conceptual models like the Technology Acceptance Model (Davis,
1989) and the SERVQUAL framework serve as valuable tools for evaluating the
alignment of digital banking services with customer expectations. This literature forms
a foundational understanding for assessing Janata Bank’s readiness for digital
innovation and its integration of FinTech.

3.1 Evolution of Digital Banking

Digital banking encompasses the provision of financial services via digital platforms
such as internet banking, mobile applications, and ATMs. As highlighted by McKinsey
& Company (2023), the global banking industry is increasingly shifting its focus from
conventional branches to digital channels to enhance accessibility and efficiency. In
Bangladesh, the rapid rise in smartphone ownership and widespread internet
availability has accelerated the adoption of digital banking (BTRC, 2023). This shift not
only allows banks to lower operational expenses but also offers greater convenience
to customers by enabling access to services beyond traditional banking hours and
locations.
24
3.2 Financial Technology (FinTech) and Innovation
FinTech, the convergence of financial services and modern technology, aims to deliver
faster, more affordable, and highly personalized financial solutions. It includes a wide
array of innovations such as digital wallets, peer-to-peer lending, robo-advisors, AI
applications, and blockchain systems. Accenture (2021) states that FinTech is
reshaping the financial sector by offering more flexible alternatives to traditional banks.
In Bangladesh, platforms like bKash, Rocket, and Nagad have significantly contributed
to increasing financial access, especially for underserved rural communities (ADB,
2021), helping to reduce the reliance on brick-and-mortar branches.

3.3 Influence of Digital Services on Customer Experience

Customer experience plays a vital role in the success of digital banking services.
Bashar and Akter (2022) emphasize that features such as 24/7 accessibility, rapid
transaction processing, secure platforms, and user-friendly design are key factors that
influence user satisfaction. Additionally, AI-driven personalization and automated
responses have been instrumental in building customer loyalty (Ferdous & Islam,
2022). However, limited awareness and understanding of digital tools remain
challenges, particularly in developing economies like Bangladesh, where digital
literacy is unevenly distributed (World Bank, 2020).

3.4 Challenges in Digital Banking Implementation

Despite the benefits of digital transformation, banks face several persistent
challenges. These include concerns over data security, frequent technical disruptions,
and a general lack of trust in digital systems. Karim and Hossain (2021) advocate for
strengthening cybersecurity frameworks and enacting robust data protection
regulations to build consumer confidence. Similarly, Rahman and Sultana (2021) note
that digital illiteracy, especially in rural regions, continues to act as a barrier to full-
scale adoption. These issues must be resolved for digital banking to reach its full
potential across all customer segments.

3.5 Integration of FinTech in Conventional Banking

FinTech has had a profound impact on how traditional banks function, encouraging the
adoption of cutting-edge tools such as open APIs, biometric verification, and AI-based

25
support systems. Nevertheless, Chowdhury and Kabir (2020) point out that public
banks in Bangladesh have been slow to adopt these technologies due to outdated
systems and regulatory complexities. Partnering with FinTech companies offers a
promising way forward. According to PWC (2020), such collaborations can enhance
innovation, improve efficiency, and create more competitive digital services. For
Janata Bank, this integration is key to staying relevant in a fast-changing digital
environment.

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 Chapter 4: Methodology
4.1 Introduction
This chapter details the research methodology adopted to investigate the impact of
digital banking on customer experience and the extent of FinTech integration within
Janata Bank PLC. The methodology was designed to ensure academic rigor, validity,
and relevance in alignment with the study’s objectives. It encompasses the research
design, data collection methods, sampling techniques, data analysis procedures, and
ethical considerations — each of which has been structured to facilitate a
comprehensive understanding of the subject under investigation.

4.2 Research Design

The study employed a quantitative, descriptive research design, which is widely
recognized for its applicability in behavioral, social, and business sciences. This
design was chosen because it enables the researcher to systematically gather
quantifiable data from a target population and draw statistically supported conclusions.
Descriptive research, in particular, is effective in measuring perceptions, attitudes, and
experiences, making it highly appropriate for evaluating customer interactions with
digital banking platforms and FinTech services. Moreover, the design emphasizes real-
time user feedback without experimental manipulation, thereby preserving the natural
settings of customer-bank interactions. This ensures the authenticity and contextual
relevance of the findings, which is crucial for practical policy implications in the banking
sector.

4.3 Research Objectives

The methodological framework was directly shaped by the following core objectives:

• To evaluate the role of digital banking services in enhancing customer experience at

Janata Bank PLC.

• To investigate the extent of FinTech adoption within the bank and its influence on
operational efficiency and customer engagement.

• To identify prevailing challenges and limitations in the use of digital banking channels
from a customer perspective.

27
• To offer strategic recommendations for improving digital service delivery and
expanding the integration of innovative FinTech solutions.

4.4 Data Collection Methods

To ensure data richness and academic integrity, both primary and secondary sources
of information were employed in this study:

Primary Data: A structured and pre-tested questionnaire served as the main instrument
for collecting empirical data. The survey consisted of multiple sections targeting
different aspects of digital banking, including service usage frequency, perceived ease
of use, satisfaction levels, encountered difficulties, awareness of digital tools, and
security concerns. A five-point Likert scale was incorporated to measure degrees of
agreement with various service attributes.

Secondary Data: Secondary information was collected from Janata Bank’s internal
publications, annual reports, Bangladesh Bank regulatory documents, FinTech
industry reports, and peer-reviewed academic literature. These sources provided
foundational insights and comparative context that supported interpretation and
analysis of primary data.

This dual-method approach ensured triangulation, thereby enhancing the credibility

and depth of the research findings.

4.5 Sampling Strategy and Population

The sampling framework followed a non-probability convenience sampling method,
which is suitable for exploratory research and feasible under time and resource
constraints. The study targeted active users of Janata Bank’s digital services from the
Dhaka University TSC branch. A total of 15 respondents participated in the survey.
These individuals were selected based on their availability and willingness to provide
insights into their experiences with the bank’s digital banking facilities.

Though limited in number, the sample was purposefully selected to reflect the views
of informed users — namely students, professionals, and daily transaction users —
who could provide meaningful feedback on digital banking performance.

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4.6 Respondent Demographics
The demographic profile of the respondents was diverse and well-suited to the study.
The majority were aged between 20 and 35 years and held at least an undergraduate
degree. Most were tech-savvy individuals with prior exposure to mobile banking,
internet banking, and mobile financial services like bKash and Rocket. This allowed
for accurate and experience-based responses that contributed to the reliability of the
data.

4.7 Data Analysis Techniques

The analysis of collected data was conducted using descriptive statistical techniques.
Numerical data were organized and interpreted using Microsoft Excel, and key trends
were presented through frequency tables, bar charts, and pie diagrams. These visual
tools enhanced data interpretation and allowed for an accessible yet comprehensive
presentation of results.

Further, cross-tabulation and comparative analysis were employed to identify

correlations between digital service use and satisfaction levels. Observations from
open-ended questions were analyzed qualitatively to extract themes related to user
expectations, limitations, and opportunities for digital innovation.

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 Chapter 5 : FinTech and Its Integration in Janata
Bank PLC
5.1 Definition and Concept of FinTech
Financial Technology, commonly known as FinTech, refers to the innovative
application of technology in the provision of financial services. It encompasses a broad
spectrum of digital tools and platforms such as mobile payments, peer-to-peer lending,
blockchain, robo-advisory services, and automated investment solutions. The primary
goal of FinTech is to enhance efficiency, reduce costs, and personalize the customer
experience in financial operations. In banking, FinTech has revolutionized service
delivery by enabling real-time transactions, seamless customer interaction, and
advanced data analytics. Additionally, FinTech plays a significant role in financial
inclusion by bringing formal financial services to underserved populations through
mobile and digital platforms.

5.2 Evolution and Growth of FinTech in Banking

The development of FinTech in banking has progressed rapidly over the past two
decades. In the early 2000s, banks began integrating technology to automate internal
back-office processes. With the widespread adoption of smartphones and high-speed
internet during the 2010s, FinTech services like mobile banking apps, digital wallets,
and online lending platforms gained prominence. After 2015, open banking systems,
application programming interfaces (APIs), and artificial intelligence became essential
components of digital financial ecosystems. In the present day, FinTech continues to
drive innovation through the integration of blockchain, machine learning, and
embedded finance solutions.

In Bangladesh, the FinTech landscape began to take shape during the last decade
with the emergence of mobile financial services such as bKash, Rocket, and Nagad.
Recognizing the transformative potential of FinTech, Janata Bank PLC has started
modernizing its operations to integrate such technologies and remain competitive in a
rapidly evolving banking environment.

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5.3 Key FinTech Innovations in Banking
5.3.1 Artificial Intelligence (AI) and Machine Learning
Artificial Intelligence and Machine Learning have emerged as transformative forces in
the banking industry. These technologies enable process automation, enhance
customer personalization, and improve risk detection and fraud prevention. AI-
powered chatbots, virtual assistants, credit scoring models, and predictive analytics
tools are now common in modern banking. At Janata Bank, AI integration is still in its
early stages. However, the bank is actively exploring AI-driven solutions such as
automated customer support, intelligent loan approvals, and fraud detection systems.

Survey findings reveal that 72.7% of respondents identified AI-based chatbots as the
most beneficial FinTech feature, highlighting the demand for instant, intelligent
customer service. Blockchain and real-time fraud detection followed with 45.5% each,
indicating growing customer awareness of security and transparency. Features like
automated loan approvals and personalized financial advisory services (36.4%) are
also gaining interest, although some users may still be unaware of their potential
benefits.

5.3.2 Blockchain and Cryptocurrencies

Blockchain is a decentralized ledger technology known for its ability to secure and
validate transactions with transparency and immutability. While cryptocurrencies like
Bitcoin and Ethereum are built on blockchain networks, their use in countries like
Bangladesh remains restricted due to regulatory concerns. However, Janata Bank
PLC is considering the adoption of blockchain technology for purposes such as secure
documentation, smart contract deployment, and digital KYC processes. These
applications offer the potential to improve operational security and efficiency without
violating regulatory norms.

5.3.3 Mobile Payment Solutions and E-Wallets

Mobile payment systems and digital wallets are among the most widely used FinTech
services globally. In Bangladesh, platforms like bKash, Rocket, and Nagad have
revolutionized how people transfer funds and pay for goods and services using
smartphones. Janata Bank has collaborated with providers like bKash to facilitate
seamless fund transfers between customer bank accounts and mobile wallets.

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Moreover, the bank is developing its own in-house mobile wallet service to provide
direct access to digital payment options for its retail banking clients.

5.3.4 Biometric Authentication and Security Technologies

Security remains a critical concern in digital banking. Biometric technologies—
including fingerprint scanning, facial recognition, and voice authentication—provide
robust and user-friendly solutions for verifying identities and securing transactions.
Janata Bank has begun implementing biometric verification systems, particularly in
account opening processes and ATM services, especially in rural branches. These
innovations not only enhance security but also promote trust among customers by
reducing the risk of unauthorized access.

5.4 Benefits of FinTech Integration in Banking

The integration of FinTech into banking offers numerous advantages. Firstly, it
significantly enhances the customer experience by enabling faster, more personalized,
and 24/7 service access. Secondly, it contributes to cost reduction through automation,
reducing the reliance on manual processes. Thirdly, FinTech supports financial
inclusion by reaching customers in remote and underserved areas via mobile
platforms. It also enables greater innovation and agility, allowing banks to launch new
products quickly and respond to changing customer needs. Moreover, real-time
services such as instant fund transfers and digital alerts improve responsiveness and
transparency. Finally, data-driven decision-making tools allow for advanced risk
analysis, credit scoring, and fraud prevention. For Janata Bank PLC, adopting FinTech
means being able to serve more customers efficiently, even with a limited branch
network, thereby improving overall service quality and satisfaction.

5.5 Challenges and Risks of FinTech Adoption

Despite the advantages, FinTech integration presents a series of challenges.
Cybersecurity threats are a growing concern, as increased digital engagement raises
vulnerability to hacking, phishing, and data breaches. Regulatory compliance also
poses challenges, particularly as laws evolve to address new technologies like
blockchain and digital payments. Traditional banks often struggle with outdated
technology infrastructure, making it difficult to implement new systems quickly.

32
Customer trust and digital literacy remain significant barriers, especially in rural areas
where awareness and confidence in digital tools are low. Additionally, the high cost of
implementation, including investment in software, infrastructure, and training, can be
a barrier for institutions like Janata Bank that operate on a more conservative budget.
These risks must be carefully managed to ensure that digital transformation does not
compromise operational stability or customer trust.

33
 Chapter 6: Digital Banking Services at Janata Bank
PLC
As the global banking landscape becomes increasingly digitized, banks in Bangladesh
are embracing digital solutions to stay competitive and serve a tech-savvy customer
base. Janata Bank PLC, being one of the oldest and largest state-owned commercial
banks in Bangladesh, has recognized the importance of digital banking and is actively
developing and upgrading its digital banking ecosystem. This chapter provides an in-
depth overview of the digital banking services offered by Janata Bank, the supporting
technological infrastructure, security protocols, and its position in the competitive
landscape.

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6.1 Digital Banking Services Offered by Janata Bank
Janata Bank PLC has introduced several digital banking services in recent years to
provide faster, safer, and more convenient banking experiences. These services are
accessible to both individual and corporate clients and are continually evolving in
response to customer needs and technological advancements.( Figure 5.1) people

use Mobile

Figure :6.1

banking apps 58%, ATM services 45.5%, Bkash, Nagad 58%, sms banking 18.2%.

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6.1.1 Mobile Banking
Mobile banking allows customers to perform basic banking functions using their mobile
phones. Although Janata Bank’s mobile banking offerings are still in the development
phase compared to private banks, several essential features are available:

SMS Banking: Balance inquiries, mini-statements, and transaction alerts.

Mobile App (Under Development): The bank is currently developing a mobile

application that will provide more advanced features like fund transfers, mobile top-
ups, and utility bill payments.

Bkash and Rocket Integration: Customers can link their Janata Bank accounts with
mobile financial service providers for easy transactions.

6.1.2 Internet Banking

Janata Bank’s internet banking platform enables users to access and manage their
accounts online through a secure web portal.

Key Features:

 Account balance check and transaction history

 Fund transfers (within and between banks)
 Utility and credit card bill payments
 Online checkbook requisition
 Downloadable account statements

Security features such as OTP (One-Time Password) and dual authentication ensure
safe access to the platform.

6.1.3 ATM and Card Services

Janata Bank has established a network of Automated Teller Machines (ATMs) and
offers both debit and credit card services:

ATM Services:

 Cash withdrawal
 Mini-statement
 Balance inquiry

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  PIN change
 Card Services:
 VISA Debit and Credit Cards
 Domestic and international usage (subject to authorization)
 E-commerce transaction support
 Chip-based cards for enhanced security

Janata Bank is a member of the NPSB (National Payment Switch Bangladesh),

allowing cardholders to access other banks’ ATM networks

6.1.4 Online Bill Payment and Fund Transfers

Customers can pay bills and transfer funds through digital platforms provided by
Janata Bank:

 Online Bill Payments: Electricity, gas, water, telephone, and internet bills.
Government fees and education-related payments
 Fund Transfer Mechanisms: BEFTN (Bangladesh Electronic Funds Transfer
Network): Batch-based electronic fund transfers for bulk payments.
 RTGS (Real-Time Gross Settlement): Real-time high-value interbank transfers.
 EFTN API Integration: Used by businesses for automated salary and vendor
payments.

6.1.5 Loan and Credit Services Through Digital Platforms

Janata Bank is digitizing loan services to enhance customer convenience and
processing speed:

 Online loan application forms available on the bank’s website

 Automated loan tracking and processing (partially implemented)
 Customer notifications for loan approval and payment reminders
 Plans for full digital loan disbursement systems in the near future

These initiatives are particularly beneficial for SMEs and retail clients who require fast
access to credit facilities.

37
6.2 Technology Infrastructure Supporting Digital Banking
To support its growing range of digital banking services, Janata Bank has invested in
robust technology infrastructure:

 Core Banking System (CBS): A centralized real-time system connecting all

branches for uniform operations and data sharing.
 Data Centers: Located in Dhaka, with backup and disaster recovery systems
for uninterrupted service.
 Internal Networks: Secure VPNs, intranet, and cloud storage to facilitate remote
and secure operations.
 API Development: Ongoing efforts to integrate third-party FinTech platforms
and digital wallets using APIs.

6.3 Security Measures in Digital Banking at Janata Bank

Security is a top priority for Janata Bank, especially in the digital environment. The
bank employs the following measures:

 Two-Factor Authentication (2FA) for login and transactions

 End-to-End Encryption of data to prevent interception and misuse
 Firewall and Intrusion Detection Systems (IDS) to protect servers and
databases
 Regular Penetration Testing and Audits to identify and mitigate vulnerabilities
 Customer Awareness Campaigns on safe digital banking practices, including
phishing and password management

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 Chapter 7: Impact of Digital Banking on Customer
Experience
7.1 Understanding Customer Experience in Banking
Customer experience in banking encompasses the totality of interactions that a
customer has with a bank throughout their banking journey. It includes their perception
of the bank’s physical services, digital interfaces, responsiveness, and overall
reliability. In the digital era, this experience is increasingly shaped by digital channels
such as mobile banking apps, online banking portals, ATMs, and other automated
systems. With the banking sector undergoing digital transformation, customer
expectations are rapidly figure: 7.1

evolving. Customers now expect seamless, secure, and personalized services

accessible anytime and anywhere.

39
At Janata Bank PLC, customer experience has become a central focus as the bank
continues to implement digital banking services. The digital banking experience is
influenced by various elements such as system performance, ease of navigation,
security measures, transaction efficiency, and quality of customer support. The
questionnaire responses indicate that most customers, especially from the private
sector and student communities, are generally aware of the digital services available,
and use them regularly.

40
7.2 Factors Influencing Customer Satisfaction in Digital
Banking
Several key factors determine customer satisfaction in digital banking:

Figure: 7.1

Based on the survey data presented, it is evident that the most valued features of
digital banking among respondents are Ease of Use and 24/7 Availability, each
selected by 63.6% of participants. This indicates that customers prioritize simplicity
and the ability to access banking services at any time, reflecting a strong demand for
convenience in digital banking platforms. Additionally, Security Features were marked

41
as important by 54.5% of respondents, suggesting that while users are adopting digital
banking, they remain conscious of safety and data protection measures. Speed of
Transactions was appreciated by 45.5% of users, indicating that while many
customers value faster service, there may still be expectations for improvement in
efficiency. Interestingly, Customer Support was selected by only 27.3% of
respondents, which could imply that while support is necessary, it is not considered as
critical unless problems arise. Overall, the data emphasizes the need for Janata Bank
to continue focusing on usability, round-the-clock access, and security while also
enhancing transaction speed and digital customer service responsiveness.

System Usability: An intuitive and user-friendly interface helps customers navigate

banking services with ease. Complicated layouts or unclear instructions can reduce
satisfaction.

Transaction Speed and Accuracy: Customers expect digital transactions to be quick

and error-free. Delays or failures can lead to frustration.

Security and Privacy: With rising cyber threats, customers need assurance that their
data and transactions are protected through strong encryption, two-factor
authentication, and fraud detection tools.

Availability of Services: A wider range of services—such as mobile top-ups, bill

payments, fund transfers, and online loan applications—enhances customer
engagement.

Customer Support: Timely and helpful support via chatbots, phone calls, or email
significantly impacts user experience, especially when issues arise.

Digital Literacy: The customer's ability to understand and operate digital services plays
a crucial role. Those lacking technical know-how may find digital banking difficult.

7.3 Advantages of Digital Banking for Customers

Digital banking services at Janata Bank have brought numerous advantages to
customers. These include:

7.3.1 Convenience and Accessibility

Customers can now perform banking operations 24/7 without visiting a physical
branch. This is particularly beneficial for working professionals, students, and people

42
in remote areas. The availability of mobile and internet banking makes financial
management more convenient and time-efficient.

7.3.2 Faster and Efficient Transactions

Digital banking enables real-time transactions, whether it’s transferring money, paying
bills, or checking account balances. This reduces wait times and improves overall
customer satisfaction.

7.3.3 Cost Savings and Financial Inclusion

Digital transactions are generally more cost-effective than manual processes.

Reduced paperwork and automated systems lower operational costs, and these
savings can be passed on to customers. Furthermore, digital banking helps bring
financial services to underbanked or unbanked communities through mobile outreach.

7.3.4 Enhanced Security and Fraud Prevention

Security features such as fingerprint login, OTP verification, and transaction alerts
improve the safety of online banking. Customers feel more secure knowing their
money is protected, which enhances trust in the bank’s services.

43
7.4 Customer Challenges in Digital Banking Usage
Despite its many benefits, customers at Janata Bank face several challenges in using
digital banking services:

Figure: 7.2

The analysis of the data reveals that Slow System Response is the most frequently
reported issue among digital banking users at Janata Bank, with 72.7% of respondents
highlighting it as a concern. This indicates a significant performance bottleneck in the
bank’s digital infrastructure, which can severely impact customer satisfaction and user
experience. Additionally, Transaction Failures were experienced by 45.5% of users,

44
further emphasizing issues with reliability and operational consistency. Concerns
about Security and Poor Customer Support were also prevalent, each reported by
36.4% of respondents, pointing to a need for the bank to improve both backend
security protocols and user assistance mechanisms. Interestingly, only 9.1% cited
Difficult User Interface as a problem, suggesting that the interface design is relatively
acceptable, though not without room for improvement. Overall, the data underscores
the urgent need for Janata Bank to enhance system speed, minimize transaction
errors, and invest in better customer support and cybersecurity measures to build
greater trust and satisfaction in their digital banking services.

 Technical Glitches: System downtime and slow app performance have been
reported by users. These technical problems affect customer trust and
satisfaction.
 Limited Features: Compared to leading private banks, Janata Bank’s digital
platforms sometimes lack advanced features such as AI-driven financial advice,
real-time investment tracking, and customizable dashboards.
 User Unawareness: Many customers, especially in older age groups or rural
areas, are unaware of the full range of digital services available or lack
confidence in using them.
 Insufficient Customer Support: Customers have expressed frustration with
delayed responses and lack of immediate help in resolving transaction issues
or login problems.
 Security Concerns: Although Janata Bank employs strong security protocols,
some users remain concerned about potential fraud, phishing, and data
breaches.

45
7.5 Strategies for Enhancing Customer Experience in
Digital Banking

Figure 7.3

The survey results highlight key areas where customers seek improvement in Janata
Bank’s digital banking services. The most common demands include a more user-
friendly mobile app and faster transaction processing, both selected by 72.7% of

46
respondents, indicating the need for a smoother, more efficient user experience.
Enhanced cybersecurity was also a significant concern, emphasizing the importance
of protecting user data and ensuring safe digital transactions. Additionally, improved
customer support and broader FinTech integration were mentioned, suggesting that
users expect more responsive assistance and advanced digital features. Addressing
these areas can greatly enhance customer satisfaction and the bank’s digital
competitiveness.

To address challenges and further improve customer experience, the following

strategies can be implemented:

Enhancing User Interface and Experience : Investing in modern and intuitive app
design ensures that customers can perform tasks effortlessly.

Expanding Feature Set: Introducing services such as digital loan processing, smart
financial planning tools, and multilingual support would increase engagement.

Customer Education and Outreach: Organizing workshops, video tutorials, and

awareness campaigns can help less tech-savvy customers adopt digital banking.

Strengthening Customer Support: Implementing AI-based chatbots, 24/7 help desks,

and live chat support can address user problems more quickly.

Regular Feedback Collection: Integrating feedback mechanisms within apps and web
portals allows for continuous improvement based on user needs.

Upgrading IT Infrastructure: Ensuring that the bank’s servers and systems can handle
peak loads and provide uninterrupted service is critical.

Cybersecurity Enhancements: Adopting the latest encryption technologies and

performing regular security audits to protect customer data.

By implementing these strategic improvements, Janata Bank PLC can provide a

superior digital banking experience, increase customer satisfaction, and position itself
as a leading innovator in the country’s banking sector.

47
7.6 Challenges and Future Trends in Digital Banking and
FinTech in Janata Bank
7.6.1Key Challenges in Digital Banking Adoption
As Janata Bank PLC embraces digital transformation and FinTech integration, it faces
several pressing challenges that influence its operational effectiveness and customer
experience. These challenges are not only technological but also involve regulatory
frameworks, user readiness, and institutional capacity.

7.6.2 Cybersecurity and Data Privacy Concerns

Cybersecurity remains one of the most critical challenges in the digital banking
ecosystem. With the increasing reliance on digital platforms, Janata Bank is exposed
to a wide range of cyber threats, including:

 Phishing and social engineering attacks targeting unsuspecting customers

through emails, calls, or fraudulent websites.
 Malware and ransomware attacks aimed at stealing sensitive financial data or
locking systems until a ransom is paid.
 Data breaches where unauthorized individuals access customer information,
causing reputational damage and financial loss.

Moreover, data privacy concerns are heightened due to the storage and processing of
large volumes of personal information. Janata Bank must strictly adhere to the
guidelines issued by Bangladesh Bank and international standards like ISO/IEC 27001
to ensure customer data confidentiality and integrity.

To tackle these issues, Janata Bank needs to:

 Continuously upgrade its cybersecurity infrastructure, including firewalls,

intrusion detection systems, and encryption protocols.
 Conduct regular audits and penetration testing to identify vulnerabilities.
 Train staff and educate customers on cybersecurity best practices.

48
7.6.3 Regulatory and Compliance Issues
Regulatory compliance is a major factor in digital banking and FinTech operations. The
financial sector in Bangladesh is governed by strict policies established by Bangladesh
Bank, which often lag behind the rapid innovation in FinTech.

Janata Bank faces regulatory challenges such as:

Complying with KYC (Know Your Customer) and AML (Anti-Money Laundering)
protocols while maintaining customer convenience. Meeting reporting requirements
for digital transactions and ensuring digital audit trails. Dealing with ambiguities in
regulations concerning emerging technologies like blockchain, cryptocurrency, and
open banking.

The challenge is to balance innovation and compliance, where new services must not
only meet customer expectations but also comply with national and international legal
frameworks. This requires legal clarity, proactive engagement with regulators, and in-
house legal expertise to handle digital banking compliance.

7.6.4 Digital Literacy and Accessibility Challenges

Despite significant growth in mobile and internet penetration, a large portion of Janata
Bank’s clientele especially in rural and semi-urban areas still lacks the digital literacy
needed to fully benefit from digital banking services.

Major concerns include:

Lack of awareness about digital banking services and their benefits.

Low trust in digital platforms due to fear of fraud or misunderstanding.

Language and interface complexity in mobile apps or online portals that are not user-
friendly for less educated users.

Limited access to smartphones, high-speed internet, or even basic financial

infrastructure in some areas.

To address these, Janata Bank must:

Design inclusive user interfaces with Bengali language support and simple navigation.

Conduct nationwide financial literacy campaigns, especially targeting women, elderly

people, and marginalized communities.

49
Collaborate with mobile operators to offer subsidized data plans or zero-rated banking
apps to encourage digital engagement.

7.6.5 Future Trends in Digital Banking and FinTech

 AI-Powered Banking Services

Artificial Intelligence (AI) will enable Janata Bank to automate routine services, provide
24/7 chatbot support, detect fraudulent transactions in real time, personalize financial
product offerings using data insights, and evaluate loan risks through machine learning
models.

 Digital-Only Banks (Neobanks)

Neobanks operate entirely online, offering account opening, KYC, loan disbursement,
and customer service without physical branches. Janata Bank can develop a digital-
only sub-brand or partner with FinTech firms to offer seamless, mobile-first banking
experiences and reduce reliance on branch-based operations.

 Open Banking and API Integration

Open banking allows third-party services to access customer data securely via APIs
with consent. Janata Bank can benefit by integrating with wallets, e-commerce, and
FinTech apps, enabling multi-bank account views, and building a robust, scalable API
system for service innovation.

 Big Data and Predictive Analytics

Big Data enables analysis of customer behavior and patterns, while predictive
analytics forecasts trends and risks. Janata Bank can apply these tools for customer
segmentation, fraud detection, branch/ATM optimization, early loan default warnings,
and targeted marketing campaigns. Strengthening data science capabilities and
implementing analytics tools will be vital.

50
 Chapter 8: Key Findings and Discussion
8.1 Overview
This chapter presents a comprehensive summary of the key findings drawn from
primary data collected through customer surveys and secondary data gathered during
the internship at Janata Bank PLC. It further integrates insights from practical
observations and internal documents, providing a detailed understanding of how digital
banking and FinTech innovations are impacting customer experience and service
delivery at Janata Bank. The chapter also discusses major challenges, customer
expectations, and strategic opportunities, aligned with the objectives of the research.

8.2 Key Findings from Customer Feedback

1. Digital Banking Has Improved Basic Service Accessibility

Janata Bank’s digital platforms—such as mobile and internet banking—have

enhanced customer access to routine banking services, allowing users to perform
transactions, view statements, and pay bills conveniently without visiting Feedback

2. Customers Demand Faster and More Reliable Digital Services

Despite improvements in accessibility, customers frequently experience slow system

response and transaction delays. These performance issues significantly affect
customer satisfaction and require immediate technological upgrades.

3. Cybersecurity Remains a Major Concern

Many users have expressed concerns regarding the safety of digital transactions.
While some security features are in place, Janata Bank must strengthen its
cybersecurity framework to build greater customer trust in digital platforms.

4. User Interface and App Usability Need Enhancement

Customers reported dissatisfaction with the design and functionality of the bank’s
mobile app. A more intuitive, responsive, and user-friendly interface is essential to
improve engagement and encourage broader adoption.

5. Customer Support for Digital Platforms Is Insufficient

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The report highlights a significant gap in customer assistance for digital issues.
Inadequate support systems, especially for resolving online transaction problems, are
hindering the digital experience.

6. FinTech Integration Is at an Early Stage

Although Janata Bank has initiated FinTech adoption—such as biometric

authentication and digital KYC—the implementation of advanced tools like AI,
blockchain, and real-time analytics remains limited compared to industry standards.

7. Digital Literacy and Awareness Are Key Barriers

A considerable portion of customers, particularly in rural areas, lack awareness and

confidence in using digital services. This limits the effectiveness of digital banking
initiatives and calls for targeted awareness and training programs.

7.3 Discussion of Findings

A. Enhanced Convenience but Inconsistent Performance

Janata Bank’s digital services have made banking more convenient for customers by
offering round-the-clock access to key services such as fund transfers, balance
inquiries, mobile recharges, and utility bill payments. However, this convenience is
sometimes undermined by inconsistent system performance. The prevalence of
issues such as app crashes, transaction delays, and authentication errors highlight a
critical need for infrastructure upgrades. Customers demand a faster, more reliable
system that matches the responsiveness of leading private banks.

B. Positive Reception of FinTech Initiatives

Customer responses reflect optimism about the integration of FinTech into banking
operations. The enthusiasm for AI chatbots shows that users are open to interacting
with technology as long as it improves efficiency. Janata Bank has begun
implementing biometric authentication and is exploring blockchain for internal security
processes and digital KYC. However, full-scale integration remains in progress. The
bank needs to accelerate the implementation of features such as real-time fraud alerts,
automated credit assessments, and smart financial planning tools.

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C. Gaps in Customer Literacy and Awareness

Despite the widespread use of mobile phones and digital services, a notable portion
of Janata Bank’s customer base—especially older adults and rural clients—remains
unaware of or hesitant to use digital platforms. The lack of clear guidance, customer
education programs, and targeted digital awareness campaigns is a significant barrier.
Many users are either unaware of advanced services such as e-wallet linking, online
loan applications, or feel uncertain about the security of these systems. This leads to
underutilization of the available digital infrastructure.

D. Institutional Challenges in Digital Transformation

Internship observations confirmed that Janata Bank is modernizing its systems, but at
a slower pace than private-sector competitors. The bank faces hurdles including
outdated core banking systems, budget constraints, and regulatory restrictions. The
lack of dedicated digital innovation teams and legacy IT systems limits the speed of
transformation. Furthermore, dependency on third-party service providers for mobile
banking or wallet integration reduces the bank’s control over service quality. To remain
competitive, Janata Bank must invest not only in technology but also in digital
leadership, change management, and cross-functional collaboration.

E. Need for Enhanced Customer Support and Real-Time Resolution

Customer dissatisfaction with digital support services indicates a lack of real-time

issue resolution. Unlike private banks offering AI chatbots, 24/7 helplines, and live chat
features, Janata Bank’s digital support structure is still developing. Many customers
find themselves reverting to physical branches to resolve digital issues, which
contradicts the purpose of digital transformation. Developing a dedicated support
platform within the mobile app and integrating AI-driven help desks can improve this
aspect significantly.

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 Chapter 9: Recommendations and Conclusion
9.1 Recommendations
Based on the analysis of customer feedback, survey responses, and observations
during the internship at Janata Bank PLC, several recommendations can be made to
improve digital banking services and strengthen FinTech integration within the
organization:

1. Enhance System Performance

Customers frequently reported delays and slow system responses while using digital
platforms. To address this, Janata Bank should invest in upgrading its core digital
infrastructure, including servers, software, and network capacity. This will ensure
smoother access to mobile and internet banking services.

2. Strengthen Customer Support

Feedback suggests that digital customer service is currently inadequate. The bank
should introduce round-the-clock support through live chat, automated help desks, and
AI-powered virtual assistants. Proper training of support staff and better coordination
between digital and in-branch services will improve the overall customer experience.

3. Improve Cybersecurity Framework

Concerns related to online fraud, unauthorized transactions, and data privacy indicate
the need for stronger security measures. The bank should implement advanced
authentication systems, such as biometric verification and two-factor authentication,
and conduct regular security audits to maintain trust among digital users.

54
4. Expand FinTech Capabilities

Customers have shown a clear interest in FinTech features like AI-based assistance,
real-time fraud alerts, and blockchain-backed security. Janata Bank should accelerate
the integration of these technologies into its services to offer intelligent, secure, and
user-friendly banking experiences.

5. Promote Digital Awareness and Education

Many users appear unaware of or uncertain about the benefits of FinTech tools. The
bank should launch awareness campaigns, create user-friendly tutorials, and organize
digital banking training sessions, particularly for rural clients, students, and senior
citizens. This would increase usage and build trust in the bank’s digital platforms.

6. Redesign and Upgrade Mobile Applications

A more intuitive and modern mobile banking interface is needed to meet customer
expectations. The app should be redesigned for easy navigation, faster performance,
and wider functionality. Collecting user feedback regularly can help refine the platform
and align it with evolving user needs.

7. Introduce Customer-Centric Digital Innovations

There is scope for developing new digital products, such as mobile loan applications,
student-friendly services, and tailored savings options. Janata Bank should leverage
customer feedback to design innovative features that cater to the specific needs of
different customer segments.

9.2 Conclusion
This report highlights the growing influence of digital banking and FinTech integration
on customer experience at Janata Bank PLC. While customers generally appreciate
the convenience and accessibility offered by digital services, several challenges
continue to hinder optimal satisfaction. These include slow system performance,
limited customer support, insufficient awareness about FinTech services, and
concerns about data security. Janata Bank has taken initial steps toward

55
modernization, including partnerships with mobile financial service providers,
biometric authentication, and blockchain-based process trials. However, to truly lead
in digital transformation, the bank must adopt a comprehensive strategy that prioritizes
infrastructure development, cybersecurity, customer education, and service
innovation.

By implementing the proposed recommendations, Janata Bank PLC can enhance

customer satisfaction, foster greater trust in digital platforms, and position itself as a
competitive and progressive institution within Bangladesh’s evolving banking sector.

56
 References
1. Accenture. (2021). Banking on Digital: How FinTech Is Changing the Game.
Retrieved from https://www.accenture.com

2. Ali, M., & Hassan, M. K. (2021). Role of Mobile Financial Services in Financial
Inclusion: Evidence from Rural Bangladesh. Journal of Economics and Development
Studies, 9(2), 44–60.

3. Asian Development Bank (ADB). (2021). Promoting FinTech to Enhance Financial

Inclusion in South Asia. Manila: ADB Publications.

4. Bangladesh Bank. (2023). Guidelines for Mobile Financial Services (MFS) in

Bangladesh. Retrieved from https://www.bb.org.bd

5. Bangladesh Institute of Bank Management (BIBM). (2022). Digital Banking

Readiness Among State-Owned Banks in Bangladesh. BIBM Research Report Series.

6. Bashar, A., & Akter, R. (2022). Impact of FinTech on Customer Experience in the
Banking Sector of Bangladesh. International Journal of Financial Studies, 10(2), 118–
132.

7. BTRC (Bangladesh Telecommunication Regulatory Commission). (2023). Internet

and Mobile Penetration Reports. Retrieved from http://www.btrc.gov.bd

8. Chowdhury, T., & Kabir, M. (2020). FinTech and the Future of Banking in
Bangladesh. Asian Journal of Economics and Finance, 2(4), 25–34.

9. Deloitte. (2021). Digital Banking Maturity Report: How Banks Are Responding to
Digital Disruption. Deloitte Insights.

10. Ferdous, M. S., & Islam, M. T. (2022). Digital Transformation in Banking Sector of
Bangladesh: A Study on State-Owned Banks. Journal of Banking and Financial
Services, 5(2), 87–98.

11. Islam, M. R., & Ahmed, S. (2020). FinTech Adoption and Customer Satisfaction in
the Context of Emerging Economies: A Study from Bangladesh. South Asian Journal
of Management Sciences, 14(1), 23–38.

12. Janata Bank PLC. (2024). Annual Report 2023. Dhaka: Janata Bank PLC.
57
13. Karim, M. R., & Hossain, M. I. (2021). Digital Banking Services in Bangladesh: A
Study on User Satisfaction and Challenges. Journal of Business and Technology,
16(1), 42–56.

14. KPMG. (2022). The Pulse of FinTech H2 2022. KPMG International.

15. McKinsey & Company. (2023). How Digital Banking Can Meet Evolving Customer
Expectations. Retrieved from https://www.mckinsey.com

16. PWC. (2020). Emerging Trends in Financial Services: FinTech Adoption in Asia.
Retrieved from https://www.pwc.com

17. Rahman, M. M., & Sultana, T. (2021). Adoption of Internet Banking in Bangladesh:
Challenges and Prospects. International Journal of Business and Technopreneurship,
11(1), 1–12.

18. The Financial Express. (2023). Janata Bank Expands Digital Services Across
Branch Network. Retrieved from https://www.thefinancialexpress.com.bd

19. World Bank. (2020). The Global Findex Database 2020: Financial Inclusion and
the FinTech Revolution. Washington, DC: World Bank.

20. World Economic Forum. (2021). Shaping the Future of Financial and Monetary
Systems. Retrieved from https://www.weforum.org

Appendixes:

Impact of Digital Banking on Customer Experience and FinTech

Integration : A Study on Janata Bank PLC

Dear participant,

This is Md. Arif from Department of Tourism and hospitality management, University of Dhaka. As
part of my academic purpose , I'm conducting this survey. This questionnaire is designed to gather
information for a research study on impact of digital banking on customer experience and Fin Tech

58
integration at Janata Bank PLC. Your participation is highly valued, and all responses will be kept
confidential and used for Academic purposes only. Please answer the questions honestly and
thoughtfully.

Thank you.

* Indicates required question

Email*

2.
Section 1
1.Name

2. Gender*

Mark only one oval.

Male
Female
Other

3. Age

Mark only one oval.

10-20
21-25
26-35
36- 50
51- more

4. Occupation *

Mark only one oval.

Students
Unemployed
Employed (private)
Employed (public)
Self-employed
Retired

Section 2: Digital banking uses

1. Are you a customer of Janata Bank PLC?

59
*

Mark only one oval.

Yes
No

2.Which digital banking services do you use frequently? (Select all that apply)
*

Check all that apply.

Mobile banking App
ATM Services
E-wallets (e.g., bKash, Nagad)
SMS Banking

3. How often do you use digital banking services?

*

Mark only one oval.

Daily
Weekly
Monthly
Rarely

4.What is your primary purpose for using digital banking? (Select all that apply)
*

Check all that apply.

Checking Account Balance
Fund Transfers
Bill Payments
Loan Applications
Investment & Savings

Section 3: Customer Satisfaction with Digital Banking

5. How satisfied are you with Janata Bank’s digital banking services?
*

Mark only one oval.

Very satisfied
60
 Satisfied
Neutral
Dissatisfied
Very dissatisfied

6. Which features of digital banking do you find most beneficial? (Select all that
apply)
*Check all that apply.

Ease of Use
Speed of Transactions
Security Features
24/7 Availability
Customer Support

7. Have you ever faced issues while using digital banking services?
*Mark only one oval.

Yes
No

8. If yes, what type of issues have you encountered? (Select all that apply)
*

Check all that apply.

Transaction Failures
Slow System Response
Security Concerns
Poor Customer Support
Difficult User Interface

9. How would you rate the customer support for digital banking at Janata Bank?
*

Mark only one oval.

Excellent
Very good
Good
Fair
Poor

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Section 4: Awareness and Perception of FinTech Integration

10. Are you aware of FinTech services integrated with Janata Bank’s digital
banking?*

Mark only one oval.

Yes
No

16.
11. Do you think FinTech innovations have improved your banking experience?
*

Mark only one oval.

Yes
No

12. Which FinTech features do you find most useful? (Select all that apply)
*

Check all that apply.

AI-Based Chatbots for Customer Support
Automated Loan Approvals
Blockchain for Secure Transactions
Real-time Fraud Detection
Personalized Financial Advice
Other:

13.Would you prefer more FinTech-driven services in Janata Bank’s digital banking?
*

Mark only one oval.

Yes
No
Maybe

Section 5: Security and Trust in Digital Banking

14. Do you feel secure while using Janata Bank’s digital banking services?
*

Mark only one oval.

62
 Yes
No
Maybe

15.What are your main security concerns regarding digital banking? (Select all that
apply)
*

Check all that apply.

Data Privacy Breaches
Unauthorized Transactions
Weak Password Protection
Cyber attack

16. Have you ever experienced fraud or unauthorized activity in your digital banking
account?
*

Mark only one oval.

Yes
No

17.Do you think Janata Bank provides adequate security measures for online
banking?
*

Mark only one oval.

Yes
No
Maybe

Section 6: Future Expectations & Recommendations

18.How likely are you to continue using Janata Bank’s digital banking services?

Mark only one oval.

Very Likely
Likely
Neutral
Unlikely
Very Unlikely

63
19. What improvements would you like to see in Janata Bank’s digital banking
services? (Select all that apply)
*

Check all that apply.

More User-Friendly Mobile App
Faster Transaction Processing
Enhanced Cybersecurity Features
Improved Customer Support
More FinTech Integration

20. Any additional comments or suggestions for improving Janata Bank’s digital
banking services? (Optional - Open-ended response)

This content is neither created nor endorsed by Google.

Forms

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