Internship Report On A Comprehensive Study on the ‘MyPrime’ Mobile Banking App: Exploring the Digital Transformation of Prime Bank PLC

Abstract

The first chapter explains the purpose and objectives of the internship, along with the importance of digital transformation in the banking sector of Bangladesh. It refers to how the paper discusses the MyPrime Mobile Banking App of Prime Bank PLC, as part of the bank's FinTech-driven modernization strategy, with a focus on customer convenience, operational efficiency, and innovation. Organizational Overview, the chapter provides the information about the background, mission, vision and corporate structure of Prime Bank PLC. It addresses the wide market presence of the bank in its retail and corporate banking, SME, Islamic banking and digital banking services and its advancement in financial technology which includes MyPrime, PrimePay and RemitPrime. Chapter 3 is devoted to the MyPrime Mobile Banking App: its purpose, main features, security, and contribution to the bank's digital transformation. The application enables customers to perform transactions, pay bills, and access real-time account services securely, which is indicative of Prime Bank's customer-centric digital banking. Chapter 4 describes my roles and responsibilities as a member of the IBB Mirpur Branch during my internship, including account opening, KYC verification, customer service, and introducing users to the MyPrime app. These activities have provided me with hands-on experience of working with analog banking systems and online banking systems. Chapter 5 concludes the essential insights that have come to light over the duration of the internship and includes insights related to understanding the basics of the banking business, FinTech integration, introducing regulatory compliance and customer relationship management. It helps to link academic and practical knowledge in the financial industry. Analysis and Reflections. This chapter is an analysis of the internship experience which shows what Prime Bank has benefited and suffered due to its digital transformation work, and those are the advantages of digitization and drawbacks of the digitalization works by lack of customer awareness and the pressure of workloads. It also goes on to comment on how these experiences helped me to improve my communication, analytical and technical skills. Conclusion. The report concludes with the insights that the internship provided me about what is happening in banking right now and how FinTech is picking up to further financial inclusion in Bangladesh. It highlights the significance of digital banking in terms of efficiency and customer satisfaction. Implications. The last chapter intertwines the scholarly knowledge with practice and shows why this internship improved my practical abilities and understanding of digital finance. It highlights how technology-enabled banking will determine the future of the financial sector in Bangladesh.