E Commerce
Chapter 1
1.1 Background of the study
Since the launch of Internet the large planet has become a smaller one. It has rendered enormous impacts on business sectors. Remarkable development in ICT (Information and Communication Technology) has introduced a global revolution in banking sectors. The global trend in business arena set some challenges that cannot be fulfilled with the help of the traditional banking system. The survey of current banking system in Bangladesh reveals the fact that it requires rapid modification and adaptation to keep harmony with the world economy business. It become more obvious by observing the increased number of customers in some modern banks while others are losing them. In the context of Bangladesh, a country of more than 140 million people, it is to be realized that there is no other option for us than to join the current trend. Otherwise it is almost impossible to bring any sort of fruitful achievement for the country.
At present, people are very often scared of doing any banking function with most of the bank of Bangladesh. For, they still follow the traditional paper-based system. It, then, becomes cumbersome to perform even a simple financial service such as account checking. Therefore, the existing banking system in our country is awkward, slow and error-prone. It, in one hand, fails to meet the customers’ demand and, on the other hand, it causes some significant losses both for the banking authority and traders. Electronic banking, on the other hand, solves the above problems. Furthermore, it opens up some other salient aspects such as increased foreign trade and foreign investment.
1.2 General problem statement
Establishing Online banking infrastructure has been a challenging task for the developing countries like Bangladesh. At present, there is no infrastructure for performing Electronic-banking activities in Bangladesh. So in this project paper, I propose a solution that can be effectively used to establish
1.1 Background of the study
Since the launch of Internet the large planet has become a smaller one. It has rendered enormous impacts on business sectors. Remarkable development in ICT (Information and Communication Technology) has introduced a global revolution in banking sectors. The global trend in business arena set some challenges that cannot be fulfilled with the help of the traditional banking system. The survey of current banking system in Bangladesh reveals the fact that it requires rapid modification and adaptation to keep harmony with the world economy business. It become more obvious by observing the increased number of customers in some modern banks while others are losing them. In the context of Bangladesh, a country of more than 140 million people, it is to be realized that there is no other option for us than to join the current trend. Otherwise it is almost impossible to bring any sort of fruitful achievement for the country.
At present, people are very often scared of doing any banking function with most of the bank of Bangladesh. For, they still follow the traditional paper-based system. It, then, becomes cumbersome to perform even a simple financial service such as account checking. Therefore, the existing banking system in our country is awkward, slow and error-prone. It, in one hand, fails to meet the customers’ demand and, on the other hand, it causes some significant losses both for the banking authority and traders. Electronic banking, on the other hand, solves the above problems. Furthermore, it opens up some other salient aspects such as increased foreign trade and foreign investment.
1.2 General problem statement
Establishing Online banking infrastructure has been a challenging task for the developing countries like Bangladesh. At present, there is no infrastructure for performing Electronic-banking activities in Bangladesh. So in this project paper, I propose a solution that can be effectively used to establish
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