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Presented by:-Sagar anand
mobile banking
Mobile banking (also known as M-Banking, SMS Banking) is a term used for performing balance checks, account transactions, payments, credit applications and other banking transactions through a mobile device such as a mobile phone or Personal Digital Assistant (PDA).
Current Mobile Banking Applications:◦ SMS Banking◦ WAP Banking◦ STK (Sim Toolkit) Banking
Introduction
Online services started in New York in 1981 when four of the city’s major banks (Citibank, Chase Manhattan, Chemical and Manufacturers Hanover) offered home banking services using the videotex system.
May 1995: Wells Fargo – the first bank in the world offer customer access to their accounts over the internet.
The earliest mobile banking services were offered over SMS.
With the introduction of the 1st primitive smart phones with WAP support enabling the use of the mobile web in 1999, the first European banks started to offer mobile banking.
EVoLUTION OF MOBILE BANKING
Benefits for Banks
Benefits for Small to Medium Businesses
Benefits for Customers
ADVANTAGES OF M-BANKING:
Large customer coverage Reducing the costs of operations Promoting their services and products internationally Increasing the customer satisfaction and providing a personalized
relationship with customers
Benefits for Banks
To run its operations more effectively
Lower cost than traditional financial management mechanisms
Benefits for Small to Medium Businesses
Convenience Cost Speed Competitiveness Communication Environmental Others (offering one-stop-shop
solutions)
Benefits for Customers
Security Fraudulent Bank websites Ignorance Illiteracy Poor and/or lack of technological infrastructure and reliable
power supply Preference to paper money, as opposed to “virtual” cash in
transactions
Disadvantages of mobile banking
Reserve Bank of India had set up the Mobile Payments Forum Of India (MPFI), a ‘Working Group on Mobile Banking’ to examine different aspects of Mobile Banking (M-banking). The Group had focused on three major areas of M-banking, i.e.,
Technology and security issues, Business issues and Regulatory and supervisory issues.
Mobile Banking in India
State Bank of India FreedoM, SMS Banking, Union Bank of India SMS Banking, UMobile PNB SMS Banking ,App based ICICI iMobile, SMS Banking, M-PESA,
mRupee HDFC SMS Banking, App Based AXIS Bank Phone Banking, Internet Banking on
Mobile, SMS banking.
Mobile Banking Services Offered by some of the indian bank
Axis bank mobile app
Mobikwik App
In this busy world computer and mobiles are playing vital role. Every good thing has some bad corners. Likewise Electronic and Mobile banking also have many benefits and some drawbacks. It’s all based on the user. If we use electronic and mobile banking properly then it is very useful for the people. It is helpful to improve the economy of the country.
conclusion
THANK YOU