Mobile Wallet (MW) is one of the largest Mobile Financial Company (MFC) in the country. In terms of market share, MW secures 23% of it under its umbrella within the industry. As a MFC, it facilitates a solution for Mobile Financial Services, built on a highly scalable Mobile Money platform, allowing the people of Bangladesh to safely send and receive money via mobile devices. MW aims to widen the net of financial inclusion by providing financial services that are convenient, affordable and reliable throughout the nation. 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. MW 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.
In terms of industries in Bangladesh, MFS is just like a new born. From the very beginning of this industry ZC has proactively observed the performance by its ‘Potential Research Development (PRD)’ unit. The year ending research by the team over MFS shows the decreasing performance of Mobile Wallet in the Khulna region. Primary assumption is decreasing competence level of the Over the Counter (OTC) executives of MW.
As this will be very much time consuming, ZC ants to conduct a research work regarding this matter on behalf of the authority. Moreover, in order to capture the real scenario, it should be an undercover survey. It can be also difficult for the MW officials to maintain the cover. Overall, customer’s satisfaction is the only key to success for a service oriented company; therefore this is the high time as well as the right time to relook the performance in order to escort it to the right track.