Mobile Banking Services – A Glance
M-Banking is nothing but Mobile banking, also known as mbanking and SMS banking. Mobile banking is the availability of banking services through the mobile devices. Nowadays, due to rapid growth of IT industry and the continuing evolution of the banking industry, banks have started to provide the mobile banking services to their customers.
Quite a lot of banking software companies has been involved to bring out the mobile banking solutions to banks, credit unions, community banks and financial institutions. In earlier, mobile banking services were offered over SMS only, but nowadays, mobile banking has been done via SMS or Mobile web. Rapid growth of iPhone and Google’s Android are the top two mobile banking devices used by the bank customers. Mobile banking can offer variety of common services such as the following:
1. Fund transfer.
2. Checking the current account balances and mini-statements or checking account history.
3. Bill payments such as mobile bills, Current bills, utility bills, pay credit card bills and so on.
4. Stop cheque request and request a cheque book.
5. Insurance policy management.
6. Pension plan management.
7. Blocking of lost or stolen cards.
Advantages of Mobile Banking
Mobile banking offers the convenient banking options. Mobile banking is always ahead of traditional online banking. In the case of online banking which requires an internet connection but mobile banking, we can use it by establishing the connectivity from virtually any area of the country. With the use of SMS text alert, bank members can avoid the late payments and cuts down the extra charges. Mobile banking can make transfers anywhere at any time and No human interaction needed for any banking transactions, The well known fact about mobile banking is an extremely intelligent and handy service also we can say it as time saver.
Apart from the customer’s point of view, mobile banking services have some business benefits. It can send timely information to various customers in a very secure environment and helps banking institutions to enhance customer experience so that they can gain more customers. It sends the promotion information, interest changes and more vital information in timely manner without time delay.
Reputed banking software companies are available and proving mobile banking solutions to banks. It is to accept banking made easy with mobile banking.
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