Focus Writing Agent Banking and Mobile Banking
Mobile banking and agent banking are both hand-held and hand-held banking systems. But there is a big difference between the two. It is worth noting the difference between the two, both theoretically and practically.
Mobile Banking –
Mobile banking is a banking system or financial transaction process that can be done through mobile or mobile phone. Mobile banking is banking in the palm of your hand. Mobile banking is basically the method of conducting financial activities by the customers of the approved financial institutions through mobile phones. The service was launched in Bangladesh in 2010. Until 2016, 29 banks had obtained permission from Bangladesh Bank to operate mobile banking, but so far 16 banks are operating the service. Although people’s financial transactions have become very easy through mobile banking, there is also a lot of harassment from the public. Fraud is increasing day by day due to mobile banking due to the malpractices of unscrupulous people, unawareness of common people etc. However, there is a continuous campaign from the management company to raise awareness on these issues.
Agent Banking –
Agent banking is a part of the conventional banking system, but its scope is small. Almost all the conventional banking services are provided here. The most important thing is that here risk-free transaction means the transaction is done through fingerprint. The role of agent banking in the financial security of the customer is incomparable. It is said that most of the banking frauds are through check fraud but agent banking is more secure than the conventional branch banks as there is no facility to withdraw checks through agent banking. No vicious cycle here can satisfy their vile conspiracy. Since Bangladesh Bank took over the agent banking activities in 2013, till now (March 2019) 21 banks have got the approval of agent banking and 19 banks are currently conducting the activities. So far no fraud has been reported through agent banking.
Mobile banking has made public life easier but at the same time it has led to extreme harassment. In addition, through mobile banking, various unscrupulous groups conduct financial fraud and illegal transactions. The online edition of Bangla Tribune’s ‘March 02, 2019 Eng’ mentions that mobile banking in money transactions of 15 types of criminal activities. The use of mobile banking in money transactions has been identified for 15 types of criminal activities. According to the data, drug trafficking, human trafficking, smuggling, extortion, murder, kidnapping, hundi, fraud, jinn king, hello party, fraud, ransom, leaking of question papers, extortion of hostages and other religious activities based on money laundering. Mobile banking is being used. In addition, most of these illegal activities are being conducted through the misuse of technology.
Agent Banking has been working with considerable reputation in customer service since its inception. Agent banking is successfully advancing in terms of foreign exchange, domestic money transfer, savings, social services, etc. In addition, Agent Banking has been working with a good reputation on a wide range of issues, including reducing violence in the hundi business, and financing terrorist activities.
The goal of both agent banking and mobile banking is to ensure financial security of the people including bringing financial services to the doorsteps of the people. In this case, agent banking is more successful than mobile banking. From the illiterate population of the country to the highly educated, mobile banking and agent banking services are included. Through agent banking, people are now getting all kinds of banking services at hand. Now everyone does not have to go to the city bank branch to get banking services. With the technological development of the country, revolutionary change is being noticed through agent banking.
Misinformation about mobile banking and agent banking can sometimes be noticed among the general public. Many people confuse agent banking and mobile banking. Agent banking can also be compared with various NGOs and multipurpose. Such confusion has been created among the common people mainly due to lack of proper idea about agent banking. So there is a need to raise more awareness about agent banking.