Introduction to mobile Success Stories banking Mobile application What is mobile banking? clients Technology behind mobile Advantages of mobile banking banking Mobile banking business The mobile models environment Mobile banking services Risk & challenges of Challenges for mobile mobile banking banking solutions Conclusion
INRODUCTION• Internet Banking helped to give the customers 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.• Mobile usage has seen an explosive growth in most of the Asian economies like• India, China and Korea
MEANING• Mobile banking: Is also known as M- Banking, SMS Banking etc.• Is a term used for performing balance checks, account transactions, payments etc. via a mobile device such as a mobile phone or Personal Digital Assistant (PDA).• Mobile banking is most often performed via SMS or the Mobile Internet but can also use special programs, called clients, downloaded to the mobile device.
IVR – Interactive Voice WAP – Wireless AccessResponse Protocol• IVR or Interactive Voice • WAP uses a concept similar to Response service operates that used in Internet banking. through pre-specified numbers Banks maintain WAP sites that banks advertise to their which customers access using customers. Customers make a a WAP compatible browser on call at the IVR number and are their mobile phones. WAP usually greeted by a stored sites offer the familiar form electronic message followed based interface and can also by a menu of different options. implement security quite effectively.
Mobile Banking Business ModelsA wide spectrum of Mobile/branchless banking models is evolving.These models differ primarily on the question that who will establishthe relationship (account opening, deposit taking, lending etc.) withthe end customer, the Bank or the Non-Bank/TelecommunicationCompany (Telco). Models of branchless banking can be classifiedinto three broad categories –Bank Focused, Bank-Led and Non Bank-Led.
Models of branchless banking can be classifiedinto three broad categories Bank Focused Bank-Led Non Bank-Led
Bank-focused model Bank-led model• The bank-focused model • The bank-led model emerges when a traditional offers a distinct bank uses non-traditional low cost delivery channels to alternative to provide banking services to its conventional branch- existing customers. Examples based banking in that range from use of automatic customer conducts teller machines (ATMs) to financial transactions at a internet banking or mobile phone banking to provide whole range of retail certain limited banking employees. services to banks’ customers.
Non Bank-led model• The non-bank-led model is where a bank does not come into the picture (except possibly as a safe-keeper of surplus funds) and the non-bank (e.g. Telco) performs all the functions.