DBBL - a name in the modern banking arena
Thursday, 28 June 2007
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 becomes 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 150 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. It, in one hand, fails to meet the customers' demand and, on the other hand, it causes some significant loss 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/remittance and foreign investment.
Dutch-Bangla Bank Limited's (DBBL) focus is not purely business. The state of the art online banking system mingles with DBBL's care for the under privileged of the society and DBBL's contribution as a corporate citizen towards the corporate social responsibility (CSR) to the people of the country makes us a unique bank in Bangladesh.
DBBL in card industry as issuer: Dutch-Bangla Bank Limited (DBBL) commenced its card operation in August 2004. Initially DBBL has issued only DBBL NEXUS classic (debit) cards to the accountholders. At present there are over 150,000 + cards in the hands of the customers. At the moment, the total card market size (approx.) in Bangladesh is 7 lac. Among these, DBBL is having around 20% market share with 150,000+ DBBL NEXUS cards. .
l DBBL card products are:
l DBBL NEXUS Classic Card (debit);
l DBBL NEXUS Maestro card (debit);
l DBBL NEXUS VISA Electron card (debit);
l DBBL NEXUS Silver OD card (credit);
l DBBL NEXUS Gold OD card (credit);
l DBBL NEXUS VISA credit card (in phases);
l DBBL-NEXUS debit card products:
This most secure, convenient, and reliable forms of payment that enable consumers to freely conduct withdrawal of cash from 150 DBBL ATM (350 at the end of year 2007) network and purchase at DBBL POS Terminals.
Eligibility for debit cards: To get a DBBL-NEXUS debit card, one has to open account in any branch of DBBL. After opening the account (SB/CD) the customer receives a DBBL NEXUS classic Card free of charge. To get a DBBL NEXUS Maestro or VISA Electron card, the customer has to inform the respective branch and then the desired card is issued to the applicant with a minimal fee.
DBBL NEXUS OD Card Products: With a vision of rendering services through new financial products, Dutch-Bangla Bank Limited has started issuance of DBBL-NEXUS Gold and Silver Cards with OD facility since June 2006. With this card, the cardholders can avail a OD facility from Tk.10,000/- (ten thousand) up to Tk.2,000,000/-(twenty lac) depending on credit worthiness.
Eligibility for OD Cards: The applicant has to be an accountholder of Dutch-Bangla Bank Limited. They should belong to any of the following categories:
(a). Employees of different corporate bodies that have salary account with DBBL;
(b). Government service holders;
(c). Valued clients of DBBL;
(d). Employees of Banks, Financial Institutions, Multinational Companies, Telecommunication Companies, University / College/ School/ Autonomous Companies, Pharmaceuticals Companies, Professionals, Defense, CIP, VIP;
(e). DBBL borrowers, SB or CD account holders.
Fees & Charges for DBBL Card Products
Membership of international card brands: To operate the card business in efficient manner, the bank has obtained the principal membership from VISA international and MasterCard International for issuing VISA debit/credit & Plus cards and MasterCard's Maestro & Cirrus Cards respectively and acquiring VISA debit/credit & Plus and MasterCard's debit/credit & Cirrus cards respectively.
Future plan: The bank has adopted a focused marketing strategy with its goal to achieve a card base of 1 million by 2010.
In the near future the bank is going to issue MasterCard International & VISA International's credit cards. Therefore, the bank shall be offering a complete card product range starting from proprietary debit/credit, OD cards to international branded debit/credit cards.
At the moment the DBBL is covering all the major cities of Bangladesh with its branch, ATM & POS networks. The bank 150+ live DBBL ATMs now and within this year the number will be 350 and by 2010 it will have total 1000 ATMs covering all parts of Bangladesh. The bank has 750+ POS Terminals installed at the moment which shall be increased to 3000 by the end of the year.
The bank is going to get the principal membership of MasterCard International for issuing and acquiring (in POS Terminals) of credit cards. Also it will keep the options of getting membership from other international card issuers like Diners, Discover, Amex etc. depending on the demand from our customers
Infrastructure & services: The bank's data centre is equipped to handle all the online banking transactions with effective efficiency. The data centre has an area of about 10,000 sft. Activities of the banking team, switching team, networking team, help desk team and all others' are centralized in data centre.
Security is the key concern for banking sector. This is the major concern for any bank going online. As infrastructural cost is very high and it is related to security i.e hardware level security & software level security, the bank who intends to go online must have the ability to bear the huge amount of money and more importantly justified hardware, software and network compatibly, reliability and security to perform.
The following are the security measures that the bank follows: Password controlled system entry; VeriSign issued Digital ID for the Bank's server; Secure Socket Layer (SSL) protocol for data encryption; Firewall setup.
DBBL has the largest acquiring network in Bangladesh. DBBL is acquiring its proprietary DBBL NEXUS cards like Classic, Silver & Gold Cards and all types of VISA/MasterCard products (debit & credit) through its ATMs & POS Terminals. A brief description of the services provided by DBBL ATMs & POS Terminal networks is given below:
Automated Teller Machine (ATM): Providing Banking facilities through ATMs is very popular throughout the world. The availability of cash at the right moment is the highest priority to the customers. Bank can provide banking service for 24 hours through ATM network. People from around the world can avail cash from ATM using international branded debit & credit cards. An ATM can act as a branch of a bank to some extent. A customer can get the following banking services through DBBL ATMs: Client can find DBBL ATMs beside Client's home, office premise, nearby market, kacha bazar, university, college & school premises, Airport, Railway stations etc., throughout the country; All the ATMs accept DBBL-NEXUS or any other Master/VISA card Credit/debit card; Using any of the DBBL ATM pools any where in the country, Client can perform the following; Withdrawing cash; Checking account balance; Funds transfer between current, savings and credit card accounts; Bills/tuition fee payments; Getting mini-statement; Stopping lost cheque; Requesting for cheque book; Loan payment information;
Future plan: With a view to extending its online banking services to every corner of the country, the bank is planning to install 200 more ATMs within this year, making the total number of ATM at 350. It is also planning to install a total 3000 POS Terminals within this year to make the bank's services more available & convenient for the customers.
Conclusion
Online banking is relatively a new concept for Bangladesh. It is not long ago when people wait in queue for long time with token in hand and collects money. But today the scenario is a little different at least in the urban areas. With the blessing of modern banking facility, people can enjoy 24 hours banking facility without going to the bank physically even from client's residence through Internet Banking or through ATM, POS terminals. At the same we need to be very careful about the fraud. Although online banking fraud in large scale is yet to be reported in Bangladesh we need to take all the necessary measures to prevent it. This can be done through proper education on information technology & sufficient software & hardware support. Proper implementation of online banking will create a positive impact on economy.
Dutch-Bangla Bank Limited is the leader in the online banking among the private banks of Bangladesh. It has employed almost all types of modern day banking facilities to provide convenience to its customers. All automated delivery channels are providing round the clock service through the mentioned hardware and software.
Due to its contribution to the society as well as national economy, it has made a clear distinction and has occupied a separate and respected position in the banking sector of Bangladesh. Expanding its business arena and volume, it has also accelerated its contribution to the underprivileged of the society. DBBL contributes 5% of its profit for helping the destitute to develop their standard of living and earn a respectable way to keep up with their everyday activity. Considering the issues discussed earlier we may conclude that the Dutch-Bangla Bank Ltd. is not only a profit making organization, it is also a perfect "Corporate Citizen" who always carry out its duties of corporate social responsibilities.
As banking sector is service oriented, therefore, banks of Bangladesh must move towards fully online banking. This will enable them to provide round the clock services through all the service channels without deployment of much manpower thus saving time & money and most important of all ensuring transaction security.
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 becomes 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 150 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. It, in one hand, fails to meet the customers' demand and, on the other hand, it causes some significant loss 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/remittance and foreign investment.
Dutch-Bangla Bank Limited's (DBBL) focus is not purely business. The state of the art online banking system mingles with DBBL's care for the under privileged of the society and DBBL's contribution as a corporate citizen towards the corporate social responsibility (CSR) to the people of the country makes us a unique bank in Bangladesh.
DBBL in card industry as issuer: Dutch-Bangla Bank Limited (DBBL) commenced its card operation in August 2004. Initially DBBL has issued only DBBL NEXUS classic (debit) cards to the accountholders. At present there are over 150,000 + cards in the hands of the customers. At the moment, the total card market size (approx.) in Bangladesh is 7 lac. Among these, DBBL is having around 20% market share with 150,000+ DBBL NEXUS cards. .
l DBBL card products are:
l DBBL NEXUS Classic Card (debit);
l DBBL NEXUS Maestro card (debit);
l DBBL NEXUS VISA Electron card (debit);
l DBBL NEXUS Silver OD card (credit);
l DBBL NEXUS Gold OD card (credit);
l DBBL NEXUS VISA credit card (in phases);
l DBBL-NEXUS debit card products:
This most secure, convenient, and reliable forms of payment that enable consumers to freely conduct withdrawal of cash from 150 DBBL ATM (350 at the end of year 2007) network and purchase at DBBL POS Terminals.
Eligibility for debit cards: To get a DBBL-NEXUS debit card, one has to open account in any branch of DBBL. After opening the account (SB/CD) the customer receives a DBBL NEXUS classic Card free of charge. To get a DBBL NEXUS Maestro or VISA Electron card, the customer has to inform the respective branch and then the desired card is issued to the applicant with a minimal fee.
DBBL NEXUS OD Card Products: With a vision of rendering services through new financial products, Dutch-Bangla Bank Limited has started issuance of DBBL-NEXUS Gold and Silver Cards with OD facility since June 2006. With this card, the cardholders can avail a OD facility from Tk.10,000/- (ten thousand) up to Tk.2,000,000/-(twenty lac) depending on credit worthiness.
Eligibility for OD Cards: The applicant has to be an accountholder of Dutch-Bangla Bank Limited. They should belong to any of the following categories:
(a). Employees of different corporate bodies that have salary account with DBBL;
(b). Government service holders;
(c). Valued clients of DBBL;
(d). Employees of Banks, Financial Institutions, Multinational Companies, Telecommunication Companies, University / College/ School/ Autonomous Companies, Pharmaceuticals Companies, Professionals, Defense, CIP, VIP;
(e). DBBL borrowers, SB or CD account holders.
Fees & Charges for DBBL Card Products
Membership of international card brands: To operate the card business in efficient manner, the bank has obtained the principal membership from VISA international and MasterCard International for issuing VISA debit/credit & Plus cards and MasterCard's Maestro & Cirrus Cards respectively and acquiring VISA debit/credit & Plus and MasterCard's debit/credit & Cirrus cards respectively.
Future plan: The bank has adopted a focused marketing strategy with its goal to achieve a card base of 1 million by 2010.
In the near future the bank is going to issue MasterCard International & VISA International's credit cards. Therefore, the bank shall be offering a complete card product range starting from proprietary debit/credit, OD cards to international branded debit/credit cards.
At the moment the DBBL is covering all the major cities of Bangladesh with its branch, ATM & POS networks. The bank 150+ live DBBL ATMs now and within this year the number will be 350 and by 2010 it will have total 1000 ATMs covering all parts of Bangladesh. The bank has 750+ POS Terminals installed at the moment which shall be increased to 3000 by the end of the year.
The bank is going to get the principal membership of MasterCard International for issuing and acquiring (in POS Terminals) of credit cards. Also it will keep the options of getting membership from other international card issuers like Diners, Discover, Amex etc. depending on the demand from our customers
Infrastructure & services: The bank's data centre is equipped to handle all the online banking transactions with effective efficiency. The data centre has an area of about 10,000 sft. Activities of the banking team, switching team, networking team, help desk team and all others' are centralized in data centre.
Security is the key concern for banking sector. This is the major concern for any bank going online. As infrastructural cost is very high and it is related to security i.e hardware level security & software level security, the bank who intends to go online must have the ability to bear the huge amount of money and more importantly justified hardware, software and network compatibly, reliability and security to perform.
The following are the security measures that the bank follows: Password controlled system entry; VeriSign issued Digital ID for the Bank's server; Secure Socket Layer (SSL) protocol for data encryption; Firewall setup.
DBBL has the largest acquiring network in Bangladesh. DBBL is acquiring its proprietary DBBL NEXUS cards like Classic, Silver & Gold Cards and all types of VISA/MasterCard products (debit & credit) through its ATMs & POS Terminals. A brief description of the services provided by DBBL ATMs & POS Terminal networks is given below:
Automated Teller Machine (ATM): Providing Banking facilities through ATMs is very popular throughout the world. The availability of cash at the right moment is the highest priority to the customers. Bank can provide banking service for 24 hours through ATM network. People from around the world can avail cash from ATM using international branded debit & credit cards. An ATM can act as a branch of a bank to some extent. A customer can get the following banking services through DBBL ATMs: Client can find DBBL ATMs beside Client's home, office premise, nearby market, kacha bazar, university, college & school premises, Airport, Railway stations etc., throughout the country; All the ATMs accept DBBL-NEXUS or any other Master/VISA card Credit/debit card; Using any of the DBBL ATM pools any where in the country, Client can perform the following; Withdrawing cash; Checking account balance; Funds transfer between current, savings and credit card accounts; Bills/tuition fee payments; Getting mini-statement; Stopping lost cheque; Requesting for cheque book; Loan payment information;
Future plan: With a view to extending its online banking services to every corner of the country, the bank is planning to install 200 more ATMs within this year, making the total number of ATM at 350. It is also planning to install a total 3000 POS Terminals within this year to make the bank's services more available & convenient for the customers.
Conclusion
Online banking is relatively a new concept for Bangladesh. It is not long ago when people wait in queue for long time with token in hand and collects money. But today the scenario is a little different at least in the urban areas. With the blessing of modern banking facility, people can enjoy 24 hours banking facility without going to the bank physically even from client's residence through Internet Banking or through ATM, POS terminals. At the same we need to be very careful about the fraud. Although online banking fraud in large scale is yet to be reported in Bangladesh we need to take all the necessary measures to prevent it. This can be done through proper education on information technology & sufficient software & hardware support. Proper implementation of online banking will create a positive impact on economy.
Dutch-Bangla Bank Limited is the leader in the online banking among the private banks of Bangladesh. It has employed almost all types of modern day banking facilities to provide convenience to its customers. All automated delivery channels are providing round the clock service through the mentioned hardware and software.
Due to its contribution to the society as well as national economy, it has made a clear distinction and has occupied a separate and respected position in the banking sector of Bangladesh. Expanding its business arena and volume, it has also accelerated its contribution to the underprivileged of the society. DBBL contributes 5% of its profit for helping the destitute to develop their standard of living and earn a respectable way to keep up with their everyday activity. Considering the issues discussed earlier we may conclude that the Dutch-Bangla Bank Ltd. is not only a profit making organization, it is also a perfect "Corporate Citizen" who always carry out its duties of corporate social responsibilities.
As banking sector is service oriented, therefore, banks of Bangladesh must move towards fully online banking. This will enable them to provide round the clock services through all the service channels without deployment of much manpower thus saving time & money and most important of all ensuring transaction security.