...GENESIS OF REVELATION: MOBILEPHONES SUSHMITHA KOTHAPALLI WILMINGTON UNIVERSITY EVOLUTION OF MOBILE PHONES In April 1973 a Motorola researcher and executive, made the first mobile telephone call from handheld subscriber equipment, placing a call to Dr. Joel S. Engel of Bell Labs. The prototype handheld phone used by Dr. Cooper weighed 1.1 kg and measured 23 cm long, 13 cm deep and 4.45 cm wide. Eventually there was change In the particular size and technology of the mobile phone .Every year there was a significant change in the development of mobile phones , gradually the size started to reduce nowadays we can find all kinds of slim smartphones .There were many technological developments too. TEXT MESSAGING In 1992 Neil Papworth sent the first text message, the text message revolution has exploded. As more and more people get cell phones every year the number of text messages sent and received soars with them. A lot of people started using text messaging to convey the messages .They had an option to send the text messages to different countries too. It was a great invention for people to use, mobile phones became a necessity for each and every human being. If people couldn’t attend the calls they could text each other it became a convenient way of approach .Later as years passed it started getting even more convenient there were many technological developments...
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...Recent trends in banking technology: 1. Convergence of Mobile and Online Technologies - Mobile banking started as an innovation, something only techies and first adopters felt comfortable using it. But as smartphones have skyrocketed in popularity over the past few years, mobile banking adoption has increased along with it. As banks continue to search for efficiencies and consolidate operations, the convergence of mobile and online technologies looks to be a prime opportunity to do so. 2. The Rise of Business Process Management - Both to increase efficiency and ensure regulatory compliance, banks need better methods of gathering and reporting data using new and improved business process management tools. 3. Goodbye Email, Hello Message Center – Advantages of message center over classical secure e-Mail are that confidential and authenticated exchanges can be started immediately by any internet user worldwide since there is no requirement to install any software nor to obtain or to distribute cryptographic keys beforehand. 4. The 'Tabletization' of Banking and the User Experience - The "tabletization" of online banking gives rich user experience than mobile banking 5. Security increasingly is A Moving Target – As consumers increasingly spend their time on their smartphones and tablets, including for their banking needs, these devices also will become the growing focus of hackers and fraudsters, who are always on the hunt for ripe targets. 6. Integrating toward...
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...The Software Packages for Banking Applications in India had their beginnings in the middle of 80s, when the Banks started computerizing the branches in a limited manner. The early 90s sawthe plummeting hardware prices and advent of cheap and inexpensive but high-powered PCs andservers and banks went in for what was called Total Branch Automation (TBA) Packages. Themiddle and late 90s witnessed the tornado of financial reforms, deregulation, globalization etccoupled with rapid revolution in communication technologies and evolution of novel concept of 'convergence' of computer and communication technologies, like Internet, mobile / cell phonesetc. Different constituents of banking technology Evolution of Technology in Banking Despite the enormous changes the banking industry has undergone through during the past 20years let alone since 1943 one factor has remained the same: the fundamental nature of the needcustomers have for banking services. However, the framework and paradigm within which theseservices are delivered has changed out of recognition. It is clear that people’s needs have notchanged, and neither has the basic nature of banking services people require. But the way banksmeet those needs is completely different today. They are simply striving to provide a service at a profit. Banking had to adjust to the changing needs of societies, where people not only regard a bank account as a right rather than a privilege, but also are aware that their business is valuableto...
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...STRATEGY–CMH520 | GROUP WORK | JENNIFER KIUGUEVANS ODERO 1009983E-Banking"Discuss E-banking". | Table of Contents 1. INTRODUCTION 2 2. History of E-Banking 3 3. Forms of e-banking 4 i. Automated Teller Machines (ATM): 4 ii. Mobile/SMS Banking: 4 iii. Smart Card/Debit Card: 5 iv. Internet Banking/ Online Banking: 5 v. Self Service PC Banking: 6 4. Why the drive towards e-banking 7 REFERENCES 11 1. INTRODUCTION E-banking is defined as a fully automatic service for traditionally banking customer’s products based on information technology platforms. E-banking services provide customer access to accounts, the ability to move their money between different accounts or making payments via e-channels. The advantages generated by this services have determined an accelerate developing of this industry over the entire world. E-banking relies heavily on information and communication technology (ICT) to achieve its promise for 24 hours availability, low error rates and quicker delivery of financial services Initially, e-banking was limited to phone banking operations and remote banking, but the range of services has increased thanks to the technological advances, the spread of online banking has coincided with the spread of high-speed broad and connections and the increasing maturation of the internet user population. 'Electronic Banking is the use of a computer to retrieve and process banking data and to initiate transactions directly with bank via a telecommunications...
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... | | | | | Bank of America Identification of Strategic Issues and Problems The Bank of America operates in an industry marked with rapid changes, the financial crisis and evolving technology. There are two challenges faced by Bank of America at this point. For the long term, the Bank faces a challenge in positioning itself. This is because mobile banking is evolving rapidly and could have a significant influence not only on Bank of America but also the whole financial services industry. In the short term, Bank of America needs to decide the future of its smartphone application. It needs to be decided whether the bank should introduce a new application, or whether they should add to the functionality of the existing application, thus making it...
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...Research Method One 7th July, 2016 Accra, Ghana How do you choose a good research topic? Give 5 examples of a good research topic and justify your choices, i.e. problem issues in each topic and why they must be researched upon. (Not less than 2000 words). 1. Research defined The Oxford English Dictionary, 2002, defines research as ‘the systematic study of materials and sources in order to establish facts and reach new conclusions’. According to Zina O’Leary, 2004, a research is a process that needs to be actively managed. The main aim of research is to find out the truth which is hidden and has not yet been discovered. Research is therefore undertaken to gain familiarity with new insights into a phenomenon (i.e., formative research studies); to accurately portray the characteristics of a particular individual, group, or a situation (i.e., descriptive research studies); to analyse the frequency with which something occurs (i.e., diagnostic research studies); and to examine the hypothesis of a causal relationship between two variables (i.e., hypothesis-testing research studies). 1.2 Research topic defined According to Laura Morrison, 2014, a research topic is an idea or theory that is expressed as a statement, a contention for which evidence is gathered and discussed logically. One of the most important concerns in choosing a thesis topic is that the topic speaks to an area of current or future demand. A research topic should be...
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...through marketing efforts and free mobile banking. While mobile banking provides a convenience for consumers, it can be expensive for the organization. Thus, Bank of America must decide whether or not it would like to advance with technology or keep their progress to a minimum. It would be wise for the organization to keep up with technology and provide services to the consumer that they may be able to find elsewhere. Bank of America must prove that they are a dependable organization and worthy of the consumers business in order to remain a top organization in their industry. Identification of the strategic issues and problems: Bank of America has been a top financial organization for some time with services such as retail banking, investment banking, and opportunities for small businesses. With the evolution of the smartphone and consumers constantly on the go the demand for mobile banking has increased excessively. Consumers would like the convenience of checking their balance while being able to transfer funds on quick notice. The underlying issues and problems that Bank of America faces are two fold. First, the organization needs to decide whether to continue advancing with technology to provide mobile banking to their consumers. This means large added costs and dependence on consumer usage. Next, Bank of America must earn the trust of the consumers and then convert them from on-site or online bankers, to mobile bankers with the use of banks app...
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...payment service provider in Bangladesh! CONFIDENTIAL Aiaze Mitha, Neu-Anspach, 20 November 2013 Bangladesh Demographics Population 160 m Financial Access Banking Penetration ONLY 14% Telco Penetration 60% ( 96 m ) Banglalink(45m), Grameenphone(40m), Robi(31m), Airtel(17m) etc Need for Mobile Money • Agro based economy , need to Improve access to financial services • Significant domestic and international remittances • A service that can be linked to microfinance CONFIDENTIAL 2 Overview Description Partners A Joint Venture of BRAC Bank and Money in Motion of the USA was launched in July, 2011, dedicated to serve the unbanked. BRAC (Bank) Money In Motion(Technology) Seg1 – 60 millions do not have banking access but have mobile phones . 83% population lives on less than $2 a day. Target Consumer Segments Seg2 - Transfer Money – $ 64 b (Domestic ) , $ 14 b Incoming International Remittances Seg3 – 300 MFIs, 24million borrowers ( 6million active ) CONFIDENTIAL 3 bKash – A Subsidiary of BRAC Bank BRAC Bank started its journey in 2001, Bangladesh fastest growing bank which has 86 Branches, 21 SME Service Centers, 48 SME/Krishi Branches, over 300 ATMs and 400 SME Unit offices across the country. It has disbursed over BDT 220,139 million of SME loan and has over 1,200,000 individual customers who access online banking facilities. Its services cuts across all strata of clientele, be it corporate, retail or SME. bKash Limited (a subsidiary of BRAC Bank) is a joint venture...
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...How the evolution of mobile phone change the way people communicate? Previously, people used to communicate with some of the earliest forms of communication devices included smoke signal, morse code, and pigeons. With all these communication devices, messages probably need weeks or months to reaching its destination. With the invention of mobile phone, all you have to do these days is send a text or make a call and your message will reach its destination within minutes. THE EVOLUTION OF MOBILE PHONE Nowadays, mobile phone is no longer a want but is a need. Everyone including people from teenagers to old people has a personal cell phone of their own on their hands. You couldn’t imagine how a mobile phone looks like in the past; it is totally different from now. Improved technology has made a great change in the history of mobile phones, transforming the huge mobile phones into sleek and stylish smartphones we carry with us now. Let’s take a look at how mobile phones developed from the bulky walkie-talkie look to today’s swipe-savvy descendants. Previously, a mobile phone use to be like this. The design is huge and with a long antenna. A few years later, mobile phones became a little more defined and better looking than how they were before. Antennas were shortened and the designs modified. Only text messaging service and voice call service are included in the function of mobile phone. Besides making a call and texting a message, there is nothing else a mobile phone can do...
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...Reinventing Retail Banking Series Evolving Models of Retail Banking Distribution Capitalizing on changes in channel usage Produced by the Deloitte Center for Banking Solutions Reinventing Retail Banking Generation Y Reinventing Retail Banking Series Consumer Trust Reinventing Retail Banking Series Catalysts for Change The Implications of Gen Y Consumers for Banks Building Consumer Trust in Retail Payments Laying a Solid Foundation Produced by the Deloitte Center for Banking Solutions Produced by the Deloitte Center for Banking Solutions The traditional retail bank is at an inflection point. The needs and expectations of customers are changing as quickly as the competitive landscape. Customers are demanding seamless, multi-channel sales and service experiences and not consistently receiving them. Simultaneously, other financial institutions and non-traditional players are looking for opportunities to invade this space or to redefine it through disruptive innovation. The result is forcing banks to examine a more balanced, integrated approach to the customer experience and growth. In this series, entitled Reinventing Retail Banking, the Deloitte Center for Banking Solutions looks at how banks must move beyond simply meeting their profit and growth goals to delivering more completely on the customer experience. Specifically, these articles will focus on: understanding customers needs; identifying emerging and profitable customer segments and strategies...
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...An Innovation in the aura of INDIAN banking sector A PAPER FOR THE 5th INTERNATIONAL CONFERENCE ON “ROLE OF INNOVATION IN BUSINESS” BY AUTHORS Mrs. Samiya Mubeen MBA Al-Ameen Institute of Management Studies (Affiliated to Bangalore University) Opp: Lalbagh Main Gate Hosur Road Bangalore-560027 Email Id:write2samiya@gmail.com Mobile: +91 9972336355 & Mr.Abdul Rizwan Shariff MBA,M.com,DBM (ICWAI) Al-Ameen Institute of Management Studies (Affiliated to Bangalore University) Opp: Lalbagh Main Gate Hosur Road Bangalore-560027 Email Id: rizoo.shariff@gmail.com Mobile: +91 9900519754 An Innovation in the aura of INDIAN banking sector ABSTRACT Innovation happens out of dire necessity Innovation is a continuous change management process which is often messy and chaotic, striving to succeed amidst the complex silos in financial institutions • Successful innovation is determined by a combination of factors The most successful financial institutions initiate a myriad of strategic and operational changes, involving processes and technology, workflows, changes in network distribution and service delivery to implement successful innovations. Financial institutions go through distinctive stages in innovation Depending on the maturity of the market; banks go first through product innovation, then progress to sales innovation and market share innovation and eventually focus on customer service innovation. Banking in india has become more innovative in the last two years 90% of...
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...also stores important data, takings cameras, stores songs amongst other uses. Moreover, the moderns cell phones are capable of internets access, savings data and files and also it can be used to indulge into business and marketing. (Uses of Cell Phones, 2011) Mobile marketing has basically two definitions due to its evolution from the past. The first one which is relatively a recent one, is meant to describe marketing on or with a mobile device, such as a mobile phone whereas the second describes a more conventional marketing which is marketing in moving fashion, for example, technology road shows, moving billboards, or advertising on vehicles. (Mobile Marketing, 2009) Even if there are various definitions for the concept of mobile marketing, there are actually no commonly accepted definitions for it and hence generally defined as "the use of the mobile medium as a means of marketing communication". (Karjaluoto Heikki and Leppäniemi Matti, 2005) Since the past two decades, mobile marketing has known a drastic evolution in its concept and hence its contributing factors together with future expectations will be discussed in this essay. One of the factors which prompted its evolution is that the use of...
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...Reinventing Retail Banking Series Evolving Models of Retail Banking Distribution Capitalizing on changes in channel usage Produced by the Deloitte Center for Banking Solutions Reinventing Retail Banking Generation Y Reinventing Retail Banking Series Consumer Trust Reinventing Retail Banking Series Catalysts for Change The Implications of Gen Y Consumers for Banks Building Consumer Trust in Retail Payments Laying a Solid Foundation Produced by the Deloitte Center for Banking Solutions Produced by the Deloitte Center for Banking Solutions The traditional retail bank is at an inflection point. The needs and expectations of customers are changing as quickly as the competitive landscape. Customers are demanding seamless, multi-channel sales and service experiences and not consistently receiving them. Simultaneously, other financial institutions and non-traditional players are looking for opportunities to invade this space or to redefine it through disruptive innovation. The result is forcing banks to examine a more balanced, integrated approach to the customer experience and growth. In this series, entitled Reinventing Retail Banking, the Deloitte Center for Banking Solutions looks at how banks must move beyond simply meeting their profit and growth goals to delivering more completely on the customer experience. Specifically, these articles will focus on: understanding customers needs; identifying emerging and profitable customer segments and strategies...
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...from digital marketing strategies and developments. The swift evolution of digital media has brought innovative changes and opportunities for marketing. Fueled via an increase in devices to read digital media, it has resulted in the simultaneous growth of digital marketing. With the rapid growth of possession of tablet devices and smart phones, today's consumer desires to be able to explore, buy, and control their monetary services on demand with their device(s) and in nearly any locality. Reinventing the fiscal services purchase channel, the way customers perform daily banking, the conveyance of insight, and the interface between channels, the drive-to-digital will present opportunities for retail banking. According to a recent financial report "The Best Thing to Do With Your PFM Tools May Be to Get Rid of Them": "motivating revenue for banks will demand that personal financial management (PFM) tools advance to suit actual digital personal financial advisors (DPFAs). The digital advisors are set to use a customers' personal data and other business intellect to find out about personal monetary habits. It will thus enable the bank to assist proactively the client execute the transitional steps involved in achieving both short and long-term individual financial goals. As such, banks have upgraded their systems to keep pace with the ever increasing technology evolution. In the next five years, retail banking in the UK will have gone a notch higher in improving financial...
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...Awareness of Electronic Banking in Pakistan 1 AWARENESS OF ELECTRONIC BANKING IN PAKISTAN Awareness of Electronic Banking in Pakistan Nouman Anwar Dar MCB Bank Limited Proceedings of 2nd International Conference on Business Management (ISBN: 978-969-9368-06-6) Awareness of Electronic Banking in Pakistan 2 Abstract Electronic Banking is an essential sector of banking industry. E-banking services are gaining the attention of conventional banking’s customers rapidly. It has brought the revolutionary changes in the Pakistan banking industry in terms of customer and business perspectives. Electronic banking has got popularity in the developed as well as developing countries because it saves people time, reduces costs and people have access to all banking services on the click of a button. More often, the new innovated system allows the customers to touch their accounts at home using a mobile device or electronic terminals. This research paper focuses on growth and awareness of electronic banking in Pakistan. Electronic banking is today’s need as it provides easy way to monitor an account. Most of the commercial banks in the country switched to the convenience ways in accessing the accounts of the customers and giving them the freedom for the easy access. “The volume of e-banking transactions reached 125.9 million while the value of these transactions aggregated to Rs 12 trillion showing an increase of 15.5 percent and 19.0 percent respectively as compared to the...
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