MOBILE BANKING PPT

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MOBILE BANKING

description

about mobile banking in india

Transcript of MOBILE BANKING PPT

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MOBILE BANKING

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INTRODUCTION

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

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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

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CLASSIFYING SERVICES

On the basis of originator of service session

1. Push2. Pull On the basis of nature of service1. Transaction Based2. Enquiry Based

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Push Based Pull Based

Transaction Based * Fund Transfer * Bill Payment * Other financial services like share trading.

Enquiry Based * Credit/Debit Alerts. * Minimum Balance Alerts * Bill Payment Alerts

* Account Balance Enquiry * Account Statement Enquiry. * Cheque Status Enquiry.* Cheque Book Requests. * Recent Transaction History.

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MOBILE BANKING SERVICES

Account Information Payments, Deposits, withdrawals, and Transfers

Investment Support Content Services

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PRODUCT BENEFITS

Customer 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

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TECHNOLOGY BEHIND MOBILE BANKING

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

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EXPECTED EVOLUTION OF WIRELESS SERVICES

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Challenges before mobile banking1. Interoperability2. Security3. Scalability & Reliability4. Personalization5. Customer Education

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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

Presently in India low-value m-commerce transactions are happening.

High value mobile transactions would pick up once the concerns of mobile secure transactions are being addressed.

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STATISTICS

Cell phone teledensity is still very low in India at around 6%, In comparison, China’s 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

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RBI guidelines

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

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CONCLUSION

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THANK YOU!!!