• Mobile banking is a technology which helps to
operate our account through the help of a
• It is easy and efficient for a customer to
transfer funds from his account to other, pay
utility bills , and many more such services
through mobile banking.
Mobile Banking refers to provision and
availing of banking and financial services with
the help of mobile telecommunication
devices. The scope of offered services may
include facilities to conduct bank and stock
market transactions, to administer accounts
and to access customized information.
Need for mobile banking
With the growing needs and
expectations of the customers, the
banks started providing services which
could ease the operational process for
the customer as well as for the bankers,
one of them is mobile banking service
provided by the bank.
From customer point
The following are the factors which promoted
Increasing number of online customers.
Specific need of transferring funds at odd hours.
Facilitate the customer to use his account
wherever and whenever required as per his
From the bank point of view..
With the increasing number of customers the banks
needed to open more and more branches which
required more capital, more bankers and
infrastructure. The banks were in favor of mobile
Less number of people would turn to the branch.
No need for heavy capital investments.
Use of mobile banking as a marketing platform.
A step ahead in the modern banking technology.
Ways of mobile banking
MOBILE PHONE BANKING
SMS MOBILE BANKING METHOD
THE INTRODUCTION OF SMARTPHONES
Mobile phone banking is the use of a cellular device
to accomplish tasks such as blocking the lost debit
card, know special offers , registering complains
and finding an ATM while away from a computer.
In short a Help line number or can be termed as
Axis bank helpline number is 1-800-233-5577
For foreign customers -+91 22 27648000
SMS banking is a type of mobile banking, which
is a technology-enabled service offering from
banks to its customers, allowing them to operate
selected banking services over their mobile
phones using SMS messaging.
SMS banking services are operated using push
and pull messages.
The introduction of smart-phone’s app
Wireless Application Protocol (WAP) is
a technical standard for accessing information
over a mobile wireless network.
The app allows services like fund transfers,
balance enquiry, searching ATM’s and branches
around, and many more.
MOBILE BANKING SERVICES
OFFERED BY SOME OF THE BANKS IN
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,
HDFC SMS Banking, App Based
AXIS Bank Phone Banking, Internet Banking on
Mobile, SMS banking.
Some guidelines provided by RBI for mobile banking.
Banks which are licensed, supervised and having physical presence in
India, are permitted to offer mobile banking services. Only banks who
have implemented core banking solutions are permitted to provide
mobile banking services.
Only Indian Rupee based domestic services shall be provided. Use of
mobile banking services for cross border inward and outward transfers
is strictly prohibited.
The guidelines issued by Reserve Bank on “Know Your Customer
(KYC)”, “Anti Money Laundering (AML)” and “Combating the Financing
of Terrorism (CFT)” from time to time would be applicable to mobile
based banking services also.
Banks shall file Suspicious Transaction Report (STR) to Financial
Intelligence Unit – India (FIU-IND) for mobile banking transactions as in
the case of normal banking transactions.
Scalability and reliability.
No stop payment facility available.
International Journal of Emerging Technology and Advanced Engineering
conducted a survey on mobile banking.(Group of 65 respondents)