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Mobile

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Submitted By akdige
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The penetration of Mobiles can be used to leverage to extend banking to the unbanked. - Its challenges and solutions.
Today a portable telephone device called as “Mobile” has taken away physical mobility in our lives and we cannot think our life without it. In fact the world has become stationary by holding this instrument as it provides all sorts of facilities to the human being on its figure tips. Mobile phone is a common technology device that has became part of every individual in the information era. As the device is being used to cater various services in our life, we can also think of using it for our day to day banking services. As a result, today mobile plays as an important role in banking sector and Mobile banking has become an emerging alternative channel for providing banking services. However, mobile banking still has not become the choice of millions of people.
The main objective of this study is to understand the technology behind it and the rules and regulations, security aspect, problem areas, and also identify the solutions and strategies to popularize the mobile banking among every banking customer in India.
Introduction of Mobile Banking Technology
Mobile Banking refers to provision and benefit of banking and financial services with help of mobile telecommunication instrument. The services may include facilities to carry out bank and other financial transactions, to manage accounts and retrieve personalised information.
The last time that technology had a major impact in helping banks to service their customers was with the introduction of the Internet banking. Internet Banking helped customer's anytime access to their banks. Customers could check out their account details, get their bank statements, perform transactions like transferring money to other accounts and pay their bills sitting in the comfort of their homes and offices.

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