Competence and Process Assessment of Mobile Wallet

Chapter 1: Introduction

1.1 Origin of the study

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.

1.2 Research Background

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

wants to conduct a research work regarding this matter on behalf of the authority. Moreover,