811 Mobile Banking

8/12/2019 811 Mobile Banking

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1. INTRODUCTIO

The kind of banking and financial service that gives a real-time mobileaccess to customer on the move is called mobile banking the services

being offered through mobile phone.

Mobile banking to the banking activity that are carried out on mobile

(cell) phones that is banking is enabled even while a person is on the

move

In modern times, information echange takes place at great speed.

The dependence of people on computing devices such as computers,

cellular phone, pager, facsimile machine, e-mail and internet is growing

at galloping rate. !uch as growth has made the real time echange of

information a reality. "t the same time it has also thrown challenges to

modern enterprises. #hich prompt them to act in a proactive manner so

as to stay competitive in the business world. The constant innovation

happening in the realm of electronic banking and financial services has

contributed to a new development called $mobile banking% this may be

attributed to the forth coming demand from the mobile workforce. The

increasingly growing number of mobile workforce has really given a

cutting edge to the progress of the electronic banking.

The mobile banking refers to the facility allowed by certain banks in

India whereby the mobile phone holder can undertake certain banking

transaction through their mobile phones. This value added services has

very little human interface and private banks like I&I&I, '& etc. have

started offering this service. The customer is re*uired to type a tet

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message on the mobile phone which travel through the server of the cell

phone service provider to bank%s internet service information is retrieved

and routed back the same way in +-/ second. To avail the service, the

client has to fill up form at any of bank%s branches and bank informs the

cellular service provider to activate the module instantly.

The information which includes checking of account balance, re*uest

for a &he*ue book, stop payment instruction, changing primary operation

account, re*uest for current periods% account statement to the mailed and

access summaries of last three transactions performed on the account.

The number of people using mobile banking services has increased.

#hile the trend is growing, lack of awareness of services, apart from

perceived security issues are inhibiting faster takeoff. 0-ata*uest.

It was clear at the start itself that this would be a battle focused not ontechnology, but on the mindset of the target audience. 1ver two years

after the launch of mobile banking services in the country, that bridge has

been reached and many are beginning to walk those cautious steps across

it. 2es, the usage of mobile banking services is increasing, and fast

against data*uest%s estimated user base of under +/,/// for mobile

banking services in 3///, there are over +3/,/// today who !M! fromtheir banking. 4ven our survey despite targeting a respondent profile that

would bring in more positive answers than negative (see methodology),

threw up very low usage numbers. "lso, e-commerce as a medium of

purchasing and transacting has not really caught on, and the basket of

mobile banking offerings is, in itself, very limited. The good news the

technology backbone is in place, and getting better. There%s &M",

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there%s 5!M. orget their battles on the mobile telephony front from the

consumer%s point of view he never had it so good.

The recent price cuts are also likely to help, 0say banking eperts,

adding that this will lead to 0increasing willingness to move on to mobile,

and therefore, to the value-added services that most operators offer

today6

The Internet is revolutioni7ing the way the financial industry conducts

business, empowering organi7ation with new business model and new

ways to interact with customers. The ability to perform banking

transactions online banks and brokers who offer personali7ed services

through their web portals. This increased competition is driving

traditional financial institutions to find new ways to add value to their

product and services, gain competitive advantage and increase customer

loyalty while also attracting new, high-value client.


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2. OBJECTIVES

Mobile and wireless technology, combined with the wide variety of

portable devices available today, enable new revenue opportunities for

financial services organi7ations. This provides a new channel that can be

used to refresh and epand the customer base, attract prime customers

and enhance loyalty. #ith mobile and wireless technology, banks can

offer a wide possibility of services to their customers, from the freedom

of paying bills while stuck in traffic, to receiving notification of a change

in stock price while having lunch, the challenge, then is how to turn these

possibilities into a reality for the customers.

Table .1

BENEFITS DESCRIPTION

5row new customer

base and markets

eveloping wireless application and services

targeted at the mobile mass market will allow

attracting new, high-value customers into mobile

banking portal and epanding the reach to global

markets.

Increase share of

customer wallet

The convenience of having personali7ed wireless

access to critical financial information is an

invaluable service for customers on the move

enabling the eecution of time-sensitive financial

transaction anywhere, anytime, provides the

opportunity to strengthen the relationships with

eisting customers. This ultimately results in an

increased share of the customers% transactions

preventing them from taking a portion of their

financial business elsewhere.

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5row assets,

number of

transaction and fees.

5ranting customer fleible access to financial

information and accounts enables them to perform

transaction and accounts enable them to perform

transaction when it%s most convenient for them. "s

a result, they have the opportunity to conduct

transactions more fre*uently, driving increased

revenue from fees.

CONSIDERATION WHEN IMPLEMENTING

MOBILE BANKING

The creation of mobile services is more efficient and effective when

financial institution enters in alliance with mobile operators. The

appropriate choice for each player depends on their combined customer

base and the share of market each one brings to the alliance.

The choices are then if one bank should establish alliance with one or

many mobile operator. The theories on the evolution of these types of

alliances show that the most usal beginning is from one to one. 'owever,

the dominant strategy will converge in the long term to a many to many

alliance model.

or large bank the most convenient strategy is to begin with a closed

system an alliance with one telecommunication company and initially

closed to user outside the combined customer base. This will allow the

alliance to lock in big customers before other players begin to enter the


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market. "t least one or two condition is needed to maintain the closed

system working9 a critical mass of customers, or strategic adventure in the

operating area.

:anks with not so large customer base or that do not want to risk

being the first movers in a closed system, would prefer to implement

open system alliance and try to capture a larger market share.

The decision about the most appropriate alliance to chose will depend

on the particular of the bank implementing the mobile services and the

availability of appropriate partners for telecommunication operation.

In the same way when choosing wireless platform the critical

consideration are the connectivity with the back ;end system and the

market several solutions in a short period of time. There are currently in

the market several solution based upon different technology and budgetre*uirements.

3. FEATURES


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Mb!le C"#$%e' (those who use $mobile telephony% use mobile

banking service. Mobile telephony is used through mobile phones.

M ) C%%e&*e' ( mobile banking is a part of m ; &ommerce

whereby business and trade takes place through mobile on-line. Those

mobile users who became on line internet users do M ; &ommerce.

Te*+,l- ba#e/' ( Mobile banking are based on technology of

development. Mobile banking makes use of internet for transmission,

transaction = delivery of banking services. The network provider the

re*uired software support.

Se&0!*e#' (Mobile banking offers the entire internet-based banking

services such as on-line account opening, account verification, funds

transfer etc.

El!-!b!l!$' ( "t present, mobile banking is etended only to

individual customer having account with any branch of a particular

bank that offers internet banking facility. urther, it is also re*uired

that the customer is registered as on internet banking customer.

Al!*a$!,' (In order to avail the facility of mobile banking, an

application duly filled is to be submitted to the bank. The application

is invariably made available in the official website of the bank.

. Ma&e$!,- 4& Mb!le Ba,!,-

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Mobile :anking is poised to become the big killer mobile application

arena. 'owever, banks going mobile the first time need to trend the path

cautiously. The :iggest decision that banks need to make is the channel

that they will support their services on.

Mobile :anking through an !M! based service would re*uire the

lowest amount of effort, in terms of cost and time, but will not be able to

support the full breath of transaction based services. 'owever in market

like India, where a bulk of the mobile population user%s phones can only

support !M! based services, this might be the only option left.

1n the other hand a market heavily segmented by the type and

compleity of mobile phone using might be good place toroll of #"?

based mobile applications. #"? based services can let go of the need to

customi7ed usability to the profile of each mobile phone. The trade offbeing that it cannot take advantage of the full breadth of features that a

mobile phone might offer.

Mobile application standalone clients bring-along the burden of

supporting multiple mobile device profile. "ccording to the 5artner

group, a leading wireless computing consulting organi7ation, mobilebanking services will have to support a minimum of / different device

profiles in the near future. 'owever, currently the best user eperience,

depending on the capabilities of a mobile phone, is possible only by using

a standalone client. Mobile banking has the potential to do the mobile

phone, what 4-Mail did to the internet mobile application based banking

is poised to be a big M-&ommerce features, and if south @orea%s foray

into mass mobile banking is any indication, mobile banking could well be

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the driving factor to increase saler of high and Mobile phone nevertheless

bank%s need to take a hard and deep look into the mobile usage patterns

among their target customers and enables their mobile service on a

technology with reaches out the maBority of their customer.

S%e -"!/el!,e# a,/ *,#!/e&a$!, ba,# ,ee/ $ 4ll5

!%le%e,$!,- 5!&ele## ba,!,- a&e'

"pplication servers should be easy to install, configure and add

new services.

&lient application must be easy to install, customi7ed, and add

new handheld devices.

Integration with other servers and back end services must be

easy to implement.

The advantages of using standard protocol are attainable mainly

through open system.

or smaller financial institution, like credit unions, the outsourcing of

the wireless services can solve most of the impediments they would face.

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:esides the lack of resources and epertise, other reasons for outsourcing

are9

inancial institution will not divert from it core business.

Improve the time to implement the services.

&ost and budget can be predicated with more accuracy.

#ireless services will use the latest in technology.

U#!,- %b!le ba,!,- 4a*!l!$ " *a,'

C+e* "& bala,*e

C+e* , "& la#$ $+&ee $&a,#a*$!,

Re6"e#$ 4& a #$a$e%e,$

Re6"e#$ 4& a *+e6"e b

E,6"!&e , a *+e6"e #$a$"#

I,#$&"*$ #$ *+e6"e a%e,$.

V!e5 4!7e/ /e#!$ /e$a!l...A,/ %"*+ %&e.

2ou can also pay your utility bills using the bill pay facility all

you to do is instruct us to pay your bills and the amount rates

instantly deducted online from our account.

Re-!#$&a$!, 4 %b!le ba,!,-

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It is usually re*uired that the customer who register for internet

banking also register for mobile banking. To register, you have to provide

mobile number in the subscription page of mobile banking re*uests.

?rovide your number in the format country code number. To register and

use the mobile banking service it is incumbent that the following

re*uirements are9-

E##e,$!al Re6"!&e%e,$

!ervice is available only to an eisting customer of the branch

availing internet banking services.

Degistration for internet banking and mobile banking services.

"vailable for the individual customer.

Eeed for owning a mobile phone if 0#"? (wireless application

protocol). :anking is to be availed the mobile phone should be

#"? enabled whose browser is capable of sending referrer FDG.

Se*"&!$ I##"e

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The security for the use of mobile banking is ensured by the use of

0password6. ?assword is nothing but the secret code of identification of a

uses. The customer user is given a 0login I6 and a 0password6 on the

registration for internet banking. The login I and the password need to

be changed by the internet banking registration.

In the case of #"? banking, one should use the same user login I

and transaction password with which access to the internet banking

service is made. 'owever, your user I needs to be enabled by the bank

for #"? banking on the basis of the application submitted for the same.

This is essential for availing the #"? banking. In the case of !M!

:anking, the bank will first enable the user I for !M! facility on the

basis of the

"pplication for the same. 1nly then the customer can access the

domain of the banking company.

"ccessing !M! banking through internet login password is not

allowed. " customer can access !M! banking only through !M!

password. #hich is eclusive however, with internet login password, one

can access the domain of the banking company through internet banking

or #"? banking using the #"? enable mobile phone.

or the first time, one can choose the !M! password only in the

relevant domain of the bank by accessing through internet. !ubse*uently

!M! password can be changed through an !M! on the mobile phone

also.however it is not possible to change the #"? ?assword separately.

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&hange of #"? password happens automatically with the change in

internet login password.

Degistration is re*uired for mobile banking when the cell. Eumber is

changed from the one already registered. :efore the change of the cell

number, it is possible for the customer to withdraw from !M! :anking,

using the necessary option. The customer need to take up with the bank,

after getting the new cell number, duly informing the internet banking I

and the new cell number. :ank will accordingly register the new cell

number.

&urrently, there is not a security standard companies have

implemented many solutions even thought the trend is to use smart cards

as the utmost security technology. The solutions currently implemented

are the following9

Gimit in the type of transaction in order to reduce the risk of the

cardholder. or eample, funds transfer to third parties.

!ecure network architecture. The more common security used is

?@I (public key infrastructure) an encryption used for ?"%s and

smart phones, ?@I consist of two keys, a public key and a privatekey, used to authenticated the user and encrypt the data.

!mart cards as a digital identification and mobile phone (card

reader are the highest technology in the terms of security).

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8. SERVICES

T+e #e&0!*e# $+a$ %b!le ba,!,- *a, 44e& a&e $+e 4ll5!,-9

"ccount balance en*uiry.

"ccount statement en*uiry.

&he*ue status en*uiry.

&he*ue book re*uests.

und transfer between accounts.

&reditHdebit alert.

Minimum balance alerts.

:ill payment alerts.

Decent transaction history re*uest.

Information re*uest like internet rates echange rates.

1ne way to classify this service depending on the originator of a

service session is the pushHpull nature. $?ush% is when the bank sends

out information based upon an agreed set of rules, for eample your

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banks send out an alert when your account balance goes below a

thousand level.6 pull6 when the customer eplicitly re*uest a service

or information from the bank so a re*uest for your last five transaction

statement is a pull based offering.

The other way to categori7e the mobile banking services by the nature

of the service, gives us two kind of services9- Transaction based on

en*uiry based so a re*uest for your bank statement is an en*uiry based

service and a re*uest for your fund%s transfer to some other account is a

transaction based services transaction based services are also

differentiated from en*uiry based services in the sence that they re*uire

additional security across the channel from the mobile phone to the banks

date servers.

:ased upon the obove classifications are arrive at the following

services listed below9-

Table9-3 &lassification of services?ush :ased ?ull based

Transaction :ased

o und Transfer

o :ill ?ayment

o 1ther inancial

!ervices like share

trading

4n*uiry :ased

o &redit H ebit

"lerts

o Minimum :alance

"lerts

o :ill payment alerts

o "ccount :alance

en*uiry

o "ccount statement

en*uiry

o &he*ue !tatus

en*uiry

o &he*ue book

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re*uest

o Decent transaction

history

DEVICES

Mobile phone and palm pilot are the most important wireless devices.

4ven though, there is solution for both type of devices and some banks

use both mechanisms to deliver their service, mobile phone has more

potentially due to its rate of penetration especially countries.

The following table presents the technology and advantages and

disadvantages of both9

Table9- Technology

evice Technology "dvantagesHisadvantages

Mobile phone

!M!

o Mobile phone is a more effective

way to reach the 0unbanked

masses6, specially in emerging

markets.

o !creen and keyboard will limit

functionality.

o !M! is a low-cost mechanism for

non-voice communication.

4specially important in countries

#here communication is still

epensive.

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o ?ricing is per message send it.

o Tets are not much user-friendly.

#"?

o It is more friendly due to its web

enabled capacity.

o It will be epensive for the

customer(pricing per minute).

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9. ADVANTAGES OF MOBILE BANKING

The biggest advantages that mobile banking after to banks is that it

drastically cut down the costs of providing services to the customers. or

eample an average teller or phone transaction costs about 3.< each

whereas an electronic transaction costs only about /.+/ each additionally

this new channel gives the bank ability to cross-sell, up-sell their other

comple banking products and services such as vehicle loans, credit each

etc.

or service providers, mobile banking offers the net surest way to

achieve growth. &ountries like @orea where mobile penetration is nearing

saturation mobile banking is helping services provider increase revenue

from the now static subscriber base. "lso service provider are

increasingly using the compleity of their supported mobile banking

services to attract new customer and retain old ones

&ontrol your finances, wherever you are in your wireless carrier%s

digital coverage area.

Deal-time access through a secure connection.

?rivate and convenient- no need to visit branch, or be near a

personal computer telephone.

Transfer money while on the move.

?ay your bills at your convenience.

&heck your balance before making a purchase.

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o your banking in a secure, discreet and convenient environment.

4asy to use software and interface, with full customer

support.

To protect your privacy, the information transmitted between

your palm handheld and royal bank is encrypted.

"ccess your banking information using your own secret

password.

:"& &!0a* a,/ #e*"&!$ !# &!&!$

Mobile banking with palm handhelds is safe, reliable and secure. "ll

data between the palm device and royal bank is encrypted, meaning that it

is scrambled into an unreadable format during transmission, preventing

the risk of the data being intercepted by a third party. This is the same

state of the art technology used in online banking.

Eo one can view your information in fact, no data is ever

permanently stored on your palm device, so if you lend it, no one will be

able to 0find6 any of your personal information.

These features also help ensure the security of mobile banking with

palm handhelds9

If for some reason your palm handheld shuts itself off with

your banking information displayed, the application will reset

to the sign-on screen.

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1nline banking will time-out if there is no activity from the

palm handheld. 2ou will then need to sign on again with your

password.

2ou can lock your palm handheld, so that only your own

secret password can be used to 0unlock6 it every time it is

used.

HOW TO USE THE SERVICS

or 4ample9 - RELIANCE MOBILE

!tep + 5o to D #orld

!tep 3 5o to $More !ervices% 1ption

!tep !elect $inance% option

!tep 8 !elect $mobile bank% option

!tep select $I&I&I :"E@% 1ption

!tep < "ccept isclaimer

3/


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;. LIST OF BANK PROVIDING MOBILE

BANKING

ICICI BANK

HDFC BANK

PUNJAB NATIONAL BANK

BANK OF BARODA

UNIT TRUST OF INDIA

DENA BANK

KOTAK MAHINDRA BANK

DEVELOPMENT CREDIT BANK

STATE BANK OF INDIA

HSBC BANK

:ES BANK

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W+a$ $&a,#a*$!, *a, I / $+&"-+ %b!le ba,!,-=

Mobile banking is etremely easy. Just punch in a few letter and

routine banking transactions will be complete.

H5 /e# %b!le ba,!,- 5=

Mobile banking works through a series of tet message (!M!)

1nce you have activated this service, all you need to do is type

in the specified code for the service you want to avail.

2ou will receive the response in the form of tet message on

your mobile phone screen within a few seconds.

De# %b!le ba,!,- 5!$+ al% 5& e0e&5+e&e=

It will work in maBor urban center and surrounding areas. or

specific areas of coverage, please consult your wireless carrier. Most

wireless carriers publish maps of their areas on their web sites.

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?. VARIOUS METHOD OF USING MOBILE

BANKING

ICICI BANKMobile banking can be divided into two broad categories9

De*uest acility

"lert acility

RE@UEST FACILIT:'

ICICI BANK mobile banking re*uests enable to *uery for account

information or perform bank transactions. 2ou can *uery for your

account balance, re*uest for the last transactions. 1rder for new che*ue

book, in*uire for a che*ue status, issue a stop che*ue re*uest, change of

primary account and make payment for your bill under this facility.

If you hold an I&I&I :"E@ '?&G ebit &ard, you can also *uery your

debit card reward points by Bust sending a !M! re*uest.

ALERT FACILIT:'

Fnder I&I&I :"E@ mobile banking alert, you get alerted when the

events you have subscribed for get triggered. 2ou can subscribed for

receiving !M! alert when your salary gets credited, when your bank

account is debited H credited with Ds.///H- or more as specified by you,

your balance falls below H goes above a specified limit or when a che*ue

bounces.

Fnder the alert facility, you will get alert only when the events you have

subscribed for information as and when you desire.

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CREDIT CARD SERVICES

ICICI BANKmobile banking services for credit card can be divided into

two board categories9

RE@UEST FACILIT:

ALERT FACILIT:

The re*uest facility enables you to check your credit card balance,

fetch reward points for redemption, view details of last payment, and get

payment due date.

1n subscription to credit card alerts, you get *alerted when the

events you have subscribed for get triggered. 2ou can subscribe for

receiving !M! alerts for due date reminders, and when you are

approaching your credit limit.

Fnder the alert facility, you will get alerts only when the events you

have subscribed for gets triggered unlike the re*uest facility where you

can re*uest for information as and when desired.

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Ba,!,- &e6"e#$# $+a$ *a, be %a/e

Bala,*e'To see the balance, select the account (primary or non

primary). In case of non- primary, provide the last < digits of the

account number.

La#$ 3 T&a,#a*$!,#' To see the last three transactions, select the

"ccount (primary or non-primary). In case of non-primary, provide

the last < digit of the account number.

C+e6"e #$a$"#'To check the status, select the account (primary

non-primary), and then provide the che*ue number. In case of non-

primary, provide the last < digits of the account number.

S$ *+e6"e'To stop the che*ue, select the account (primary or

non-primary), and then provide the che*ue number. In case of non-

primary, provide the last < digits of the account number.

C+e6"e b &e6"e#$'To re*uest a che*ue book, select the account

(primary or non-primary). In case of non-primary, provide the last
http://www.icicibank.com/http://www.icicibank.com/


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ICICI BANK Pa&$,e 5!$+ &el!a,*e I,/!a %b!le $

la",*+ %b!le ba,!,- #e&0!*e

I&I&I :ank, India%s second largest bank, in association with reliance

infocomm, India%s largest mobile service provider, today launched a truly

interactive mobile banking service in India.

July +8, 3//8, Mumbai ; I&I&I :ank customers through their

reliance mobile handsets can now avail of a gamut of banking servicesfree of charge. The services can be accessed directly from D #orld on the

handset. " customer can view their I&I&I :ank account balance, get mini

statement and make re*uests for che*ue books. "part from viewing

presented bills, a customer can also pay bills by direct debit to the bank

account. The service also enables a customer to locate an "TM or bank

branch. 1n selecting any of these, the customer is connected directly tothe bank and the result is displayed instantly on the handset. To avail the

mobile banking service, a customer can register at any of the I&I&I :ank

branches, dial the call center or through internet banking.

0#ith alliance6 I&I&I :ank leveraged technology to synergies the

benefits of a mobile phone with I&I&I :anking services. This will

improved the customer with a convenient anytime-anywhere banking

environment D-#orld%s menu driven process offers the convenience of

banking, while being on the move. The highly advanced and intuitive

user- interface features of the D-#orld, available to the more than >

million DIM users, makes mobile banking practical and user-friendly. D-

#orld ensures the subscriber receives answer to re*uest immediately

within the same session.

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The Bava-based D-#orld suite of reliance India mobile internet

application uni*ue in India and the world. "round > million subscribers

all over India currently use D-#orld., which offers a range of innovation

services on reliance India mobile that helps its customer to access

information, communication, entertainment, and transaction based

application on the move.

I,/!a, %b!le &0!/e& a&$,e 5!$+ ba, $ 44e&

#e&0!*e#

IEI" ; "re mobile phones a competitor ; or a complement ; to

"TMsK

Maybe a little both, Budging from a news release from mobile phone

provider reliance infocomm limited. "ccording to the release, I&I&I

:ank, in a partnership with reliance, on July 3+ launched an interactive

mobile banking service in India.

Fsing their reliance India mobile handsets, I&I&I :ank customers can

access several banking services including viewing their account balance,

getting mini statements and making re*uest for check books. &ustomers

can also view presented bills and make payments via a direct debit to

their bank accounts. There is no charge for the services.

'owever, the service also enables a customer to locate an "TM or bank

branch. #ith this option, the customer is connected directly to the bank

and the result is displayed instantly on the handset.

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'owever, the service also enables a customer to locate an "TM or bank

branch. #ith this option, the customer is connected directly to the bank

and the result is displayed instantly on the handset. &ustomer can sign up

for the service at any I&I&I :ank branch, or through the call center or the

internet.

0#ith this alliance, we have leveraged technology to synergi7e the

benefits of a mobile phone with our banking services, which will provide

the customer with a convenient anytime ; anywhere banking

environment.

Deliance India mobile%s internet applications, including the new

I&I&I services, are built upon proprietary Bava ; based D-world suite.

"ccording to the release, > million subscribes across India use D-world to

access information, communication, entertainment and transaction ;

based application.

COMPARING WITH OTHER BANK FOR

MOBILE BANKING

"ctually, I am doing proBect on mobile banking from I&I&I :"E@.

This bank had started mobile banking in the year 3//+. rom 3//+ to

3//> this bank started making profit continuously.

I want to compare the I&I&I :"E@ with other leading bank for

eample9 - '&, '!:& etc. '& was the first bank to start a mobile

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banking in India for eample9 - DIM has included I&I&I :"E@ along

with '& bank for mobile banking through D- #1DG. !ince I have

an '& :"E@ aHc, I registered for this service with '& :"E@ and

can check my account details and carry out select transaction using D-

#1DG. 'owever, much to my surprise there seems to be no

passwordH?IE security for accessing to my bank accountL That means

whoever has even brief access to my mobile has access to my bank

accountL !o if it ever stolen. 1r even in cases to the account and could

even carry out transactionLLL

It%s really surprising that they have overlooked this very important

security loopholeL

Is this the same for people who have registered with I&I&IK

"nybody concerned about thisK

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11. Te&%# *,/!$!,# -0e&,!,- %b!le ba,!,-

Fa*!l!$

De4!,!$!,#'

A**",$mean :ank account =Hor credit card account =Hor any other

type of account so maintained by the customer with I&I&I :ank or any of

its affiliate for which the facility is being offered or may be offered in

future (each an 0"ccount6 and collectively 0"ccount6)

A44!l!a$eof I&I&I :ank mean and include9

"ny company which is the holding of the company or subsidiary of

I&I&I :ank, or

" person under the control of or under common control with I&I&I

:ank, or

"ny person, in which I&I&I :ank has a direct or beneficial interest

or control in more than 3


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carrying securities, by contract or otherwise howsoever and 0person6

means a company, corporation, a partnership, trust or any other entity or

organi7ation or other body whatsoever.

C"#$%e&mean a customer of I&I&I :ank or of an affiliate or any

person who has applied for any productHservice of I&I&I :ank.

ICICI BANK mean I&I&I :ank limited, a company incorporated

under the companies act +C< and licensed as a bank under banking

regulation act, +C8C having its registered office at landmark, race course

&ircle, vadodara C/ //> and corporate office at I&I&I :ank towers,

bandra kurla comple, Mumbai 8// /+.

Fa*!l!$mean mobile banking facility (which provides the &ustomers,

services such as information relating to account(s), details abouttransactions and such other services as may be provided on the mobile

phone number by I&I&I :ank or otherwise for the purpose of availing the

facility.

Mb!le P+,e N"%be&means the number specified by the customer

on the website, through the call centre or in writing either through anyform provided by I&I&I :ank or otherwise for the purpose of availing the

facility.

Pe,al I,4&%a$!, means the information about the customer

obtained in connection with the facility.


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after authentication of the &ustomers through any mode of verification as

may be discretion of I&I&I :ank.

The acility shall be activated after a minimum of 3 working days

from the date of receipt of the application on the #ebsite or at the call

centre. In case of application submitted on the printed format as may be

prescribed by I&I&I :ank, the acility shall be activated after a minimum

of > working days from the date of receipt of the application at operation

cell, Mumbai.

ELIGIBLE CUSTOMERS

The customers desirous of using the acility should be either a sole

"ccount holder or authori7ed to act independently. In case of Boint

account, the written mandate of other account holders authori7ing the

&ustomers to use the acility would be re*uired. "ll or any transactionarising from the use of the acility in the Boint account shall be binding

on all the Boint account holders, Bointly and severally. "n "ccount in the

name of the minor, in which a minor is a Boint account holder or any

account where the mode of operation is Boint, is not eligible for acility.

AVAILABILIT: DISCLOSURE

I&I&I :ank shall endeavor to the &ustomer through the facility, such

services as I&I&I :ank may decide from time to time. I&I&I :ank

reserves the right to decide what services may be offered to a &ustomer

on each "ccount and such offers may differ from &ustomer to customer.

I&I&I :ank May also make addition H deletion to the services offered

through the acility at its sole discretion. 1nly those "ccount opened


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with the "ffiliates of I&I&I :ank and attached to the respective

&ustomer%s I will be accessible through the acility.

The acility is made available to the re*uest, at the sole discretion of

I&I&I :ank and may be discontinued by I&I&I :ank at any time, without

notice. I&I&I :ank reserves the right to offer the acility for those

&ustomers who are availing the services of specific cellular services

providers only. The acility is currently to only to the &ustomers holding

"ccounts with I&I&I :ank%s branches in India. I&I&I :ank shall have the

discretion to offer the facility to Eon Desident Indians subBect to

application laws.

The access of the &ustomers to the acility shall be restricted to

&ustomer availing the acility through the Mobile ?hone Eumber. The

instruction of the customer by means of the &ustomer shall be effected

only after authentication of the &ustomer by means of verification of theMobile ?hone Eumbers andHor through verification of T?IEHpassword

allotted I&I&I :ank to the &ustomer or through any other mode of

verification as may be stipulated at the discretion of I&I&I :ank.

I&I&I :ank shall endeavor to carry out the instruction promptly

provided that I&I&I :ank shall not be responsible for the delay incarrying out the instructions due to any reason whatsoever including

failure of operational system or due to any re*uirement of law.

AUTHORIT: TO ICICI BANK

The &ustomers irrevocably and unconditionally authori7es I&I&I

:ank to access all his "ccounts for effecting or other transaction of the


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&ustomer through the acility. The &ustomer further authori7es I&I&I

:ank acceptingHeecuting re*uest of the &ustomers.

RECORDS

"ll records of I&I&I :ank generates by the transaction arising out of

use of the acility, including the time of the transaction recorded shall be

conclusive proof of the genuineness and accuracy of the transactions. The

authority to record the transaction details is hereby epressly granted by

the customers to I&I&I :ank.

INSTRUCTIONS

"ll instruction for availing the services under the acility shall be

provided through the Mobile ?hone Eumber in the manner indicated by

I&I&I :ank. The &ustomers is also responsible for the accuracy andauthenticity of the instruction provided to I&I&I :ank and the same shall

be considered to be sufficient for availing of the services under the

acility.

#here I&I&I :ank considers the instruction to be inconsistent or

contradictory it may seek clarification from the &ustomers before acting

on any instruction of the &ustomers or act upon any such instruction as itmay deem fit. The &ustomers and I&I&I :ank shall have the right to

suspend the services under the acility if I&I&I :ank has reason to

believe that the &ustomer%s instruction may lead to direct or indirect loss

or may re*uire an indemnity from the &ustomers before continuing to

operate the acility.

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The &ustomers accepts that all information H instruction will be

transmitted to and H or stored at various locations and be accessed by

personal of I&I&I :ank (and it%s "ffiliates). I&I&I :ank is authori7ed to

provide any information or details relating to the &ustomers or to third

party to acilitate

The providing of the acility and so far as is necessary to give effect

to any instructions. "ccuracy of Information the &ustomers undertakes to

provide accurate information wherever re*uired and shall be responsible

for the correctness of information provided by him to I&I&I :ank at all

times including for the purposes of availing of the facility. I&I&I :ank

shall not be liable for conse*uences arising out of erroneous information

supplied by the &ustomer. If the &ustomer suspects that there is an error

in the information supplied by :ank to him, he shall advise I&I&I :ank

as soon as possible on a best effort basis.

#hile I&I&I :ank and its "ffiliates will take all reasonable steps to

ensure the accuracy of the information supplied to the &ustomer, I&I&I

:ank and its "ffiliates shall not be liable for any inadvertent error, which

results in the providing of inaccurate information. The &ustomer shall

hold I&I&I :ank harmless against any loss, damages etc. that may

incurred H suffered by the customer if the information supplied to the&ustomer turns out be inaccurate H incorrect.

DISCLAIMER OF LIABILIT:

I&I&I :ank shall not be responsible for any failure on the part of the

&ustomer to utili7e the acility due to the &ustomer not being within the

geographical range within which the acility is offered If the &ustomer

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has reason to believe that his mobile phone number is H has been allotted

to another person and H or there has been an unauthori7ed transaction in

his account I&I&I and H or his mobile phone is lost, he shall immediately

inform I&I&I :ank under acknowledgment about the same.

The &ustomer agrees that I&I&I :ank shall not be liable if

(a) The &ustomer has breached any of the terms and condition herein

or

(b) The &ustomer has contributed to or the loss is a result of failure on

part of the &ustomer to advise I&I&I :ank within a reasonable

time about unauthori7ed access of or erroneous transaction in the

"ccount or

(c) "s a result of failure on part of the customer to advise I&I&I :ank

of a change in or termination of the &ustomer%s Mobile ?hone

numbers.

The customer agrees that the access of the acility shall be onlythrough the Mobile ?hone Eumber and the &ustomer or not, shall be

deemed to have originated from the customer. Fnder no &ircumstance,

I&I&I :ank shall be held liable if the acility is not available for reasons

including but not limited to natural calamities, legal restraints, faults in

the telecomm nation network or natural failure, or any other reason

beyond the control of I&I&I :ank. I&I&I :ank shall not be liable underany circumstance for any damages whatsoever #hether such damages are

direct , indirect, incidental conse*uential and irrespective of whether any

claim is based on loss of revenue, interruption of business or any loss of

any character or nature whatsoever and #hether sustained by the

&ustomer or by any other person. Illegal or improper use of the acility

shall render the &ustomer liable for payment of financial charges as

decided by I&I&I :ank or will result in suspension of the acility to the

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&ustomer. I&I&I :ank is in no way liable for any error or omission in the

services provided by any cellular or any third party services provider

(whether appointed by I&I&I :ank in that behalf or otherwise) to the

&ustomer, #hich may effect the acility.

I&I&I :ank does not warrant the confidentiality or security of the

messages whether personal or otherwise transmitted through the facility.

I&I&I :ank makes no warranty or representation of any kind in relation

to the system and the network or their function or performance or for any

loss or damage whenever and however suffered or incurred by the

&ustomer or by any person resulting from or in connection with the

acility #ithout limitation to the other provision of this terms and

condition, I&I&I :ank, its employees, agent or contractors, shall not be

liable for and in respect of any loss or damage whether direct, indirect or

conse*uential, including but not limited to loss of revenue, profit,

business, contracts, anticipated savings or goodwill, loss of use or valueof any e*uipment including software, whether foreseeable or not, suffered

by the &ustomer or any person howsoever arising of I&I&I :ank in

receiving and processing the re*uest and in formulating and returning

responses or any failure, delay, interruption, suspension, restriction, or

error in transmission of any information or message to and from the

telecommunication e*uipment of the customer and the network of anycellular service provider and I&I&I :ank%s system or any breakdown,

interruption, suspension or failure of the telecommunication e*uipment of

the &ustomer, I&I&I :ank%s system or the network of any cellular

services as is necessary to provided in this terms and conditions, for any

dispute between the customer and a cellular services provider or third

party services provider(whether appointed by I&I&I :ank in that behalf

or otherwise).

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The &ustomer agrees that I&I&I :ank and H or its "ffiliates may hold

and process his personal information concerning his "ccounts on

computer or otherwise in connection with the acility as well as for

analysis, credit scoring and marketing. The &ustomer also agrees I&I&I

:ank may disclose, in strict confidence, to other institution, such

information as may be reasonably necessary for reasons inclusive of but

not limited to the participation in any telecommunication or electronic

clearing network, in compliance with legal directive, for credit rating by

recogni7ed credit rating by recogni7ed credit scoring agencies, and for

directive, for credit rating by recogni7ed credit scoring agencies, and for

fraud prevention.

The &ustomer shall not interfere with or misuse in any manner

whatsoever the facility and in the event of any damages to I&I&I :ank for

the use of the acility.

ICICI BANKwill not be liable for9

(a) "ny unauthori7ed use of the &ustomer%s T?IE, icicibank.com

password or mobile phone or for fraudulent, duplicate or erroneous

instruction given by use of the &ustomer%s T?IE,icicibank.compassword or mobile phone number

(b) "cting in good faith on any instructions received by I&I&I :"E@

(c) 4rror,default,delay or inability of I&I&I :"E@ to act on all or any

of the instructions

(d) Goss of any informationHinstructions in transmission

(e) Fnauthori7ed access by any other person to any information H

instructions given by the &ustomer or breach of confidentiality

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(f) I&I&I :"E@ will not be concerned with any dispute between the

customer and any cellular services provided and H or any third party

providing by I&I&I :"E@. I&I&I :"E@ makes no representative

or gives no warranty with respect to the *uality of the service

provided by any cellular service provider. I&I&I :"E@ shall not

be liable for the oversight on part of the &ustomer to update

himself with the addition of services which have been included in

the facility and specific services for each product as may be

provided on the website of I&I&I :"E@ and as will be available

with the authori7ed call centers of I&I&I :"E@.

INDEMNIT:

In consideration of I&I&I :"E@ providing the acility, the

customer agree to indemnify and keep safe, harmless and indemnified

I&I&I :"E@ from and against all action, claims, demands, proceedings,loss, damages, costs, charges and epenses whatsoever I&I&I :"E@ may

incur, sustain, suffer or be put to at any time as a conse*uence of acting

on or omitting or refusing to act on any instruction given by use of the

facility.

The &ustomer hold I&I&I :"E@H its "ffiliates harmless against anyloss incurred by the &ustomer due to failure to provide the services

offered under the acility or any delay in providing the services due to

any failure or discrepancy in the network of the cellular service provider.

The &ustomer agrees to indemnify and hold I&I&I :"E@ harmless

for any losses occurring as a result of the9

i. The customer permitting any third parties to use the acility.

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ii. The &ustomer permitting any other person to have access to his

mobile phone or a conse*uence of leaving the mobile phone

unattended or loss of mobile phone.

FEES

I&I&I :"E@ shall have the discretion to charge such fees as it may

deem fit from time to time and may at its sole discretion, revise the fees

for use of any or all of the acility, by notice to the customers. The

&ustomer may at any time discontinue or unsubscribe to the said facility.

The &ustomer shall be liable for payment of such airtime or other charges

which may be levied by any cellular service provider in connection with

availing of the acility and I&I&I :"E@ is in no way concerned with the

same. The charges payable by the &ustomer is eclusive of the amount

payable to any cellular service provider and would be debited from theaccount of the &ustomer on a monthly basis. The &ustomer shall be

re*uired to refer to the schedule of fees put up on the #ebsite from time

to time.

MODIFICATION

I&I&I :"E@ has the absolute discretion to amend or supplement

any of the terms and conditions at any time and will endeavor to give

prior notice of fifteen days by email or by displaying on the #ebsite

depending upon the discretion of I&I&I :"E@, whichever feasible, and

such amended terms and condition will thereupon apply to and be binding

on the &ustomer.

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TERMINATION

The &ustomer may re*uest for termination of the acility any time

by giving a written notice of at least + days to I&I&I :"E@. 'e

&ustomer will remain responsible for any transaction made through his

mobile phone number through the facility prior to the of such cancellation

of facility I&I&I :"E@ may, at its discretion, withdraw temporarily or

terminate the facility, either wholly or in part, at any time without giving

prior notice to the &ustomer. I&I&I :"E@ may, without prior notice,

suspend the facility at any time during which any maintenance work or

repair is re*uired to be carried out or in case of any emergency or for!ecurity reasons, which re*uire the suspension of the acility.I&I&I

:"E@, shall endeavor to give a reasonable notice for withdrawal or

termination of the acility. The closure of all "ccount of the &ustomer

will automatically terminate the facility.I&I&I :"E@ may suspend or

terminate facility without prior notice if the &ustomer has breached these

terms and conditions or I&I&I :"E@ learns of the death, bankruptcy orlack of legal capacity of the customer.

NOTICES

I&I&I :"E@ and the customer may give notice under these terms

and condition electronically to the mailbo of the &ustomer (which will

be regarded as being in writing) or in writing by delivering them by hand

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or sending them by post to the last address given by the &ustomer and in

to I&I&I :"E@ at its office at rd floor, south tower, I&I&I :"E@

towers, bandra kurla comple, Mumbai 8// /+. In addition, I&I&I bank

shall also provide notice of general nature regarding the facility and terms

and conditions, which are application to all customers of the acility, on

its website andH or also by means the customi7ed messages sent to the

&ustomer over his mobile phone as short messaging service

(0!M!6).such notice will be deemed to have been served individually to

each &ustomer.

GOVERNING LAW

"ny dispute or differences arising out of or in connection with the

facility shall be subBect to the eclusive Burisdiction of the courts of

Mumbai.

ICICI BANKaccepts no liability whatsoever, direct or indirect for

non compliance with the laws of any country other than that of India. The

mere fact that the acility can be accessed by a &ustomer in a country

other than India does not imply that the laws of the said country govern

these terms and condition and H or the operation in the accounts of the

&ustomer and H or the use of the facility.

MOBILE BANKING FACILIT:

Al!*ab!l!$'

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"ll the terms and conditions as applicable to I&I&I :"E@ Mobile

:anking acility shall be "pplicable, unless ecluded specifically or by

necessary implacable.

De4!,!$!,'

In these terms and &onditions, the following terms shall have the

following meanings9

Ale&$#' means the customi7ed messages sent to the &ustomer

over his mobile phone as short messaging services (0!M!6) in response

to the triggers sent by the &ustomer.

Ale&$"#+ Fa*!l!$' shall mean the service provide by I&I&I

:"E@ wherein a customer can obtain specific information pertaining to

his "ccount on his Mobile phone number.

Re6"e#$P"ll Fa*!l!$' shall mean facility through which

&ustomers will be able to make re*uest about their "ccounts by sending

0key words6 through !M! to mobile phone number provided by I&I&I

bank for the purpose.

T&!--e'means the customi7ed trigger that are re*uired to be set

by the &ustomer with I&I&I bank which shall enable icici :ank to send

the "lerts relating to "ccount.

APPLICABILIT:

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"ll primary savings account holders demat account holder and

primary credit card holders can avail of this service.

The last updated mobile number in the records of I&I&I bank would be

used to send the alerts. &urrently, alert facility is not offered for two

mobile numbers of the same account.

!uch alerts will be available to the customer only if the customer is

within the cellular service range of the particular cellular service provider

or within such area which forms part of the roaming network of such

cellular service provider providing services to the customer availing such

roaming facility from respective cellular service provider.

PROCESS

To receive alerts, the customer may select and set or any of the

triggers through I&I&I phone banking services or by logging into the

internet banking account or by submitting an application in the prescribedformat as application or by any other mode as notified by I&I&I :ank

from time to time. The customer shall be re*uired to ac*uaint himself

with the detailed process for using mobile alerts and I&I&I :ank shall not

be responsible for any error made by the customer while setting the

triggers.

In setting of the trigger by the customer, the terms and condition as

applicable to I&I&I :ank phone banking, I&I&I :ank shall not be

responsible for any error made by the customer while setting the triggers.

The customer acknowledge that alert facility will be implemented in

a phased manner and I&I&I :ank may at a later stage, at its discretion,

send alerts over email, epand the available trigger or alerts to meet

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customer re*uirements, or may discontinue all or any the facilityHfeature.

I&I&I :ank may, from time to time, change the features of any trigger or

alert. The customer shall be re*uired to keep himself informed of the

available trigger or alerts, which will be made available on the website.

The customer may, from time to time, modify the triggers selected by

him, without the necessity of a fresh registration.

"ny customer availing the facility will be provided with alert facility

andHor re*uest facility as may be decided by I&I&I :ank from time to

time.

@eywords for various information re*uests shall be as may be

provided for, from time to time, including on the application forms, or

available at I&I&I ?hone banking centers andHor on the website.

SETTING TRIGGERS AND RECEIVING ALERTS

I&I&I :ank will not acknowledge receipt of any instruction or

triggers nor shall I&I&I bank be responsible to verify any instruction or

trigger or the customer%s T?IE or password or mobile phone number.

I&I&I :ank wills "ndover to give effect to instruction and trigger on a

best basis and as soon as practically possible for I&I&I bank.

I&I&I :ank may, in its discretion, not give effect to any trigger if

I&I&I bank has reason to believe (which decision of I&I&I bank shall be

binding on the customer) that the trigger are not genuine or otherwise

improper or unclear or raise a doubt or in case any trigger cannot be put

into effect for any reasons whatsoever.

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The customer is responsible for intimating to I&I&I bank any change

in his mobile phone number or email address details and I&I&I :ank will

not be liable for sending alerts or other information over the customer%s

mobile phone numberHemail addressHfa number recorded with I&I&I

bank.

The customer acknowledges that to receive alerts, his mobile phone

number must be active and accessible. The customer acknowledges that if

the customer%s mobile phone number remains inaccessible for a

continuous period (such period dependent upon service providers) from

the time an alert message is sent by I&I&I :ank, that particular message

may not be received by the customer.

Trigger will be processed by I&I&I :ank after receipt and I&I&I

:ank shall have discretion to determine the time taken to process such

re*uest. The customer acknowledges that there shall be the triggers andthe time that the alerts are sent.

The customer acknowledges that the facilities provided is dependent

on the infrastructure, connectivity and services provided by services

providers engaged by I&I&I :ank. The customer accepts that timelines,

accuracy and readability of alerts sent by I&I&I :ank. I&I&I :ank shallnot be liable for transmission of alerts to the customer.

I&I&I :ank shall endeavor to provide the facility on a best effort

basis and the customer shall not hold I&I&I :ank liable for non-

availability of the facility or non-performance by services providers, if

any, engaged by I&I&I :ank or any loss or damage caused to the

customer as a result of use of the facility (including relying on the alerts

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for the customer%s commercial, investment or business purposes) for

causes which are not attributable to I&I&I :ank. I&I&I :ank shall not be

liable in any manner to the customer in connection with the use of the

facility.

The customer accepts that each alert may contain certain account

information relating to the customer. The customer authori7ed I&I&I bank

to send account related information, though not specifically, if I&I&I

:ank deems that the same is relevant. I&I&I :ank shall not be held

responsible for the confidentiality, secrecy and security of the personal or

account information being sent through the facility.

FEES

I&I&I :ank reserves the right to the alert facility and revises such

charges and such updates in charges shall be intimated to the customer

through alertsHdisplay on the website depending upon the discretion ofI&I&I :ank.

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CONCLUSION

:y completing this proBect, I came into conclusion that mobile banking

is the product. Mobile banking refers to the facility allowed by certain

banks in India. #here by the mobile phone holder can take certain

banking transaction through mobile phone. :y coming of mobile

banking it is easy for customer to find out the information from theaccount in the bank. I hope anybody who will go through this proBect

would be convinced and satisfied with the work.

The area of my proBect is limited to i.e. I&I&I :"E@ (borivali branch).

The study is on mobile banking which is recently new service offered

by bank to the customer.

3

811 Mobile Banking

Documents

Transcript of 811 Mobile Banking