Bkash Report

STRATEGIC
MANAGEMENT [F]
bKash HAFSA MARYAM
Student names:
AHMED, MD. TANJIM
ID: 18-36547-1
MONDAL ,SARGAR KUMAR
ID: 18-38559-2
ZAMAN,FATIHA
ID: 17-35396-3
SAKIB,NAJMUS
ID: 18-38453-2

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 Contents

1. Introduction of the Bkash Organization.……………….03

2. History...........................................................................................03

3. bkash profile ……………………………………...……...............04

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Introduction:
Developer of a mobile payments services is called bkash and the platform intended to confirm access
to a broader range of economic services for the people of Bangladesh. The company's platform
provides mobile money transfer and mobile banking services to store limited funds together with
convenient ways to form payments and initiate fund transfers via basic mobile phones, enabling people
to avail a good range of mobile banking services at their fingertips.

History:
This mobile service start bkash launched in July 2011 in Bangladesh, with basic services: benefit, live
and send money, keeping in mind that over 70% of the population of Bangladesh lives in rural areas
where access to formal banking services is so difficult for most people and Day by day More user-
demanded services like airtime top-up, bill payment, Train-Movie Ticket purchase were introduced
over its span. And own mobile application for simple access, which has been recognized because the
most effective innovation within the Financial Innovation Category in Bangladesh Innovation Award
2018 for its simplified and useful features.

bkash profile:
Mobile financial service in Bangladesh operating under the authority of Bangladesh Bank as a
subsidiary of BRAC Bank Limited is called Bkash. This mobile money system started as a venture
between BRAC Bank Limited, Bangladesh, and Money in Motion LLC, u. s. of America. [citation
needed] bKash users can deposit money into their mobile accounts then access a spread of services,
specifically transferring and receiving money domestically, making payments, and may recharge
prepaid mobiles easily. Also, they'll pay mobile postpaid bills. More than 70% of the population of
Bangladesh lives in rural areas where access to formal financial services is difficult. Yet these are the
people who are in most need of such services, either for receiving funds from loved ones in distant
locations, or to access financial tools to improve their economic condition. Less than 15% of
Bangladeshis are connected to the formal banking system whereas over 68% have mobile phones.
These phones are not merely devices for talking, but can be used for more useful and sophisticated
processing tasks. bKash was conceived primarily to utilize these mobile devices and the omnipresent
telecom networks to extend financial services in a secure manner to the under-served remote
population of Bangladesh. bKash can be accessed via all the mobile networks operating in Bangladesh.
Currently, bKash is running a network of more than 180,000 agents throughout urban and rural areas
of Bangladesh with over 30 million registered accounts.

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Mission: By offering financial service that are helpful, reasonable and dependable, bKash intends to
augment the net of financial incorporation. bKash needs to give an answer for Mobile Financial
Services, based on a profoundly versatile Mobile Money platform, permitting the people of
Bangladesh to securely send and get cash through cell phones.

Vision: bKash's vision for what's to come is to offer financial service for low-pay territories not
covered by traditional administrations and thus cover more people in Bangladesh. A definitive target of
bKash is to guarantee access to a larger scope of financial administrations for the people of
Bangladesh.

Product and Service:

bKash is offering the below mentioned products and services to all of its users,

 Add money
People can add money to bKash account from Bank, MasterCard and VISA card.

 Transfer money
Now money can be instantly transferred to a bank account from bKash app. This service is now
available in BRAC Bank and City Bank.

 Pay bill
There are many kinds of bill can be paid by bKash as like,

1. Electricity bill

2. Gas Bill

3. Telephone Bill

4. Water Bill

5. Internet Bill

6. Cable TV Bill

7. Education

8. Amex Credit Card

9. Visa Credit Card

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 Cash in
This is a process to deposit money or cash in the bKash account

 Cash out
Money can be withdrawn by Agent and ATM from bKash account

 Send money
Money can send to bKash user and non-bKash user

 Payment
From any bKash account anyone can make payment to any merchant who accept bKash payment

 Mobile recharge
Anyone can do mobile recharge for personal mobile number or someone else’s mobile number

 Remittance
Bangladeshis living abroad can send global settlement in the least demanding and most
advantageous manner to their close to one's bKash Account in Bangladesh through approved and
enrolled Foreign Bank, Money Transfer Organization (MTO), and Money Exchange Houses

 Interest on savings
By keeping money safe, anyone can enjoy up to 4% interest on saving on bKash account

 Donations
The world will improve on the off chance that we as a whole broaden our help towards the
oppressed. The associations underneath have devoted themselves in changing these people groups'
lives. You can likewise go along with them. Give with bKash and contribute towards their
schooling, medical services or give your zakat to assist them with succeeding

 Government service
Through bKash anyone can be pay car license, ownership registration, tax token renewal and
various other fees at the BRTA Service Portal and receive your tax token at the comfort of your
home

SWOT analysis
The process of analysis the internal and external environment of Bkash Ltd. Here we consider the four
factors. Strengths and weakness will provide the information about internal condition as well as
opportunities and threats will provide the information about the external condition about Bkash Ltd.

Strengths:
I. Bkash is the first and leading the money mobile financial service provider market in
Bangladesh.
II. The transaction and customer service are open for 24/7 for its customers.
III. Availability of the service at everywhere in the network coverage area in Bangladesh.
IV. It has wide network coverage in e-commerce market.
V. The using system of Bkash transaction and Mobile application is very easy for the customers.

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VI. It has skillful and dedicated workforce and research and development team.
VII. Strong brand image, huge popularity good reputation in the market.

Weakness:
I. The cash out charge is relatively high.
II. The server connection of Bkash is not so strong that is why the connection sometimes goes
down.
III. The security system of customer account is not so strong that is why many times customers
face difficulties by hackers.
IV. Bkash does not provide any demerge to those customers who had to lose money for third-party.
V. The number of transactions per day is very limited.

Opportunities:
I. The huge number of mobile users in the Bangladesh. Bkash has the opportunity to capture the
market.
II. Today’s customers want the easiest transaction system rather than critical banking system.
III. The growing market and popularity of e-commerce.
IV. The present generation is mostly depending on internet in every payment and transaction
sector.
V. Possibility of penetrating market over different types of products.

Threats:
I. New competitors are growing in the market.
II. Competitors are charging less for cash out than Bkash.
III. Hackers are always finding the way to do fraud with Bkash account.
IV. Changing of baking rules by Bangladesh Bank.
V. Lack of knowledge about online transaction system in rural area people.

SWOT strategies:

Strengths opportunities (SO) strategies:

I. Though Bkash has the skillful workforce and R&D team so by increasing market It can easily
capture the huge market.
II. Though Bikash has an easiest mobile app transaction system so it has the opportunity to capture
the present generation who are depending on internet on every purpose.

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Weakness opportunities (WO) strategies:
I. Bkash can reduce the weakness of high charge by capturing the huge market of e-commerce.
II. By providing easiest transaction system rather than critical banking system Bkash can easily
put off the weakness of the demerge that they are not provide to customers.

Strengths Threats (ST) strategies:

I. Bkash is already leading the money mobile financial service provider market in Bangladesh so
it can easily compete with the competitors with their brand value.
II. Customers can easily get service of Bkash rather than other competitors so this strength hide
the weakness of high charge,
III. By skillful R&D team Bkash can remove their server down problem also can improve their
security system.

Weakness Threats WT) strategies:

I. By reducing the cash out charge Bkash can easily compete with their competitors.
II. Bkash can improve the security and server system to remove the server down problem and put
a ban on hacking the customer account.

Findings:
In mobile banking service, Bkash is leading in that market segment. By providing good and easiest
customer service Bkash already gained the attention of customers and most of the customers are
satisfied with the service of Bkash. So, customers satisfaction level is high. But In some cases, they are
lacking behind. As their security and server system is not so strong that’s cause a huge harm to the
customers. Because of this Customers dissatisfaction level is increasing day by day and customers are
switching to its competitor. And also, the switching cost is low. On the other hand, the wide network
Bkash and the availability of service help them to compete with its competitor.

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