The impact of Alternative Delivery Channels (ADC) toward cashless banking: in the light of Islami Bank Bangladesh Ltd.

Abstract

This internship report investigates Islami Bank Bangladesh Limited's (IBBL) alternative banking services, with a particular focus on their use of fintech to provide a cashless banking opportunity. The report digs into the challenges and opportunities IBBL faces as it adapts to the digital age. it takes a deep dive into the necessity for doing Cashless banking. To compile this comprehensive report, a mixed-methods research approach was used, which included reviewing existing literature, analyzing website data, and conducting semi-structured interviews with the bank officials in the field. The findings reveal that IBBL has made significant steps in embracing fintech solutions for cashless banking. It has improved financial inclusions, increased convenance and strengthen security expanding their customer base. In addition, this paper helps to know IBBL's alternative banking products, discuss their advantages and disadvantages about cashless banking, and evaluate how successful IBBL has been to reduce cash dependency. In conclusion, the report discusses the implications of its findings for the future of banking in Bangladesh and suggests that IBBL should continue to invest in fintech solutions to remain competitive. Overall, this report suggests valuable insights into overall IBBL's banking position and potential impact on the banking sector in Bangladesh. The recommendations provided can be a valuable resource for IBBL and other stakeholders as they work to enhance their services and promote financial inclusion in the country.