Mobile Banking

By Author: kajal
Total Articles: 1
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What is Mobile banking?

Mobile banking means financial transactions from mobile devices Ex_ mobiles, tablets, laptops, etc. Over the last decade, the banking industry has become more advanced and secure.

Nowadays, online transactions have become so popular, secure, and simple, as you can do it on the go at any time. No need to spend hours in banking queues, all you need is a good internet connection and a mobile device/PC.

Mobile banking services are provided by financial institutions. Banking services have many types like: account information access, transactions, investments, and support services.

To date, banks are using SMS services and apps to keep their customers informed of their account activities and send alerts to their related updates, frauds, and maintenance of services. It allows transactions between different accounts and payment of bills.

Mobile Banking Services
Mobile banking has become an important part of the day-to-day life of people, banks encourage customers their best mobile banking services/internet banking services.

Account Balance Enquiry
...
... Account Statement Enquiries
Credit/Debit Alerts
Bill Payment Alerts
Minimum Balance Alerts
Branch locators
ATM locators
Cheque Status Enquiry
Cheque Book Requests
Fund Transfer between Accounts
Credit/Debit Alerts
Minimum Balance Alerts
Bill Payment Alerts
Bill Payment
Recent Transaction History Requests
Information Requests like Interest Rates/Exchange Rates
Lodging complaint/ tracking applications

Benefits of mobile banking

Accessing the bank 24/7
Completely paperless
Mobile banking helps you to track your finances
Provides more security to their customers
Convenient for everyone
Pay your bills online
Transfer money between accounts
View your transaction

Future of Mobile Banking
The rising trend in mobile banking are cardless withdrawal of money from ATMs, using mobile phones.

The Banking industry is continuously inspecting new technologies like AI (Artificial Intelligence) in mobile banking.

Also, Mobile Banking is adapting new features for the future such as Robo-Advisors, Voice Payments, and Card Control etc.