MOBILE BANKING

INTRODUCTIONMobile banking is a term used for performing balance checks, account transactions, payments etc. via a mobile device such as a mobile phone.

REASONS OF GENESIS OF MOBILE BANKING Introduction of new technologies. Control costs, removal of cost duplication Cater to increasing online channel customers Personalize customer interactions Unparalleled convenience and proactive customer

service

CLASSIFYING SERVICES On the basis of originator of service

session 2. Push 3. Pull On the basis of nature of service 5. Transaction Based 6. Enquiry Based

MOBILE BANKING SERVICES Account Information Payments, Deposits, withdrawals,

and Transfers Investment Support Content Services

PRODUCT BENEFITSCustomer Benefits Secure, Convenient and easy method of payment Anywhere anytime payment Merchant Benefits Additional payment method for customers Small payment amounts can be accepted Portable payment options for merchants on move (Taxis, Couriers, Doctors etc) Banks Additional channel for customer payments Use of existing Infrastructure Value added service to customers

TECHNOLOGY BEHIND MOBILE BANKING

SMS (Short messaging service) GPRS (General Packet Radio Service) USSD (Unstructured Supplementary Service

Data)

EXPECTED EVOLUTION OF WIRELESS SERVICES

Challenges before mobile banking1. 2. 3. 4. 5. Interoperability Security Scalability & Reliability Personalization Customer Education

Mobile Banking- INDIAN SCENARIO Increasingly faster transmission via GPRS 3G technology to be launched soon in India, is

expected to bring in a mobile revolution.

Users are slowly getting used to the concept of

a mobile hand held device as digital cash or wallet to carry out purchases transactions are happening.

Presently in India low-value m-commerce High value mobile transactions would pick up

once the concerns of mobile secure transactions are being addressed.

STATISTICS

Cell phone teledensity is still very low in India at around 6%, In comparison, Chinas cell phone density is at around 35%, while some of the European and Asia-Pacific countries have 100% teledensity or more in mobile telephony. In the past two years, the number of people using mobiles has increased three times Indian cellular services market is projected to reach $24 billion by the end of 2009, a CAGR of 35.6%, Gartner said. Indian cellular services market had recorded the highest growth in Asia Pacific and Japan region in 2004 with a CAGR of 67%. India is all set to be among the top four countries in mobile phone subscriber numbers by the end of year 2008, according to industry analysts As on August 31, 2008, There were 62.57 million mobile subscribers in India, according to data provided by the TRAI. Fixed Phone users already lag behind by 47.44 million

RBI guidelines

Regulatory and supervisory issues Registration of customer Transaction limit Security standards Approval by RBI

CONCLUSION

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