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NAGINDAS KHANDWALA COLLEGE OF COMMERCE & ARTS

PROJECT ON: M-Banking SUBMITTED BY: F !"# M$Pan%&a

T$Y$B$COM$ 'BANKING & INSURANCE( SEMESTER: ) DATE OF SUBMISSION:

PROJECT GUIDE PROF: Ka*+&a, Gana-!a

ACKNOWLEDEMENT I feel deeply in debted towards people who have guided me in this project. It would have not have been possible to make such an extensive report without the help, guidance and inputs from them. Most of my information source has been from professional books of banking sector I would firstly like to express my gratitude towards my guide P !"# $%&'(%P )%*%+ % for having shown so much of flexibility , guiding in such a way that I was really learning the subject all the time. &he helped me in deciding the project topic. &he showed a lot of openness in her approach and I would like to thank him for his support in a way that has lead to proper , effective learning. I would like to thank Mr. %&'!$ P%+-., branch manager of '/"0 bank for their kind support in providing primary data and information regarding Mobile 1anking. .ast but not least I am grateful to all my family members , my friends for being my side always. 2ithout their help and Motivation it would have been impossible to complete my project.

Findings
Primary Data# 4arious people that included office staff help to collect the primary data on the basis of interviews, thoughts , suggestion Secondary Data: +he Main sources of &econdary data were combination of information from the Internet, periodicals and books of the related topic. Hypot esis: +o understand about how M5banking activity is carried out and how it is easy to use. Limitations: .ack of information pertaining to the various angles of the report. +he topic is too vast to be covered in this project. +hese were main problems encountered by myself.

Ta!"e o# Contents *!. 1. 3. 6. 7. 8. 9. :. ;. <. 1=. 11. 13. 16. 17. 18. 19. 1:. 1;. 1<. 3=. 31. 33. 31. Particulars %cknowledgement "inding +able of content -xecutive summery Introduction Mobile *etwork provide competitive advantages Mobile 1anking %pplications Mobile payment5%n additional role for Mobile phone M50ommerce5strategic implications for banks +erms and conditions governing the use of >&M&?5&I1 Mobile service,@Push %lerts , Pull reAuestB 0ustomers eAuirements for Mobile 1anking %pplication 0ould Mobile 1anking go global C M51anking5*o 2ires, *o 2orries, *ew customers. M51anking use cases M51anking solutions # 1est practice &ecurity for Mobile 1anking 0haracteristics of Mobile use )eneral conditions of Mobile 1anking 0ase study of '/"0 bank 0onclusion and suggestions %pplication form for Mobile 1anking Duestionnaires 1ibliography and 2ibliography Page*o 3 6 7 8 95: ; <51= 11 13516 1753= 31 33 36 37 38539 3:56= 61 63 66569 6: 6; 6<578 79

E$EC%T&'E S%MME() Mobile communication device are revolutioniEing banking transaction over wireless networks , the Internet. +o attract , retain customers, banks need to extend their full range of service across a wide range of mobile, wireless devices without having an impact on their current infrastructure , the delivery channels it currently supports. 2ireless network, mobile gateways, 2%P @wireless application protocolB , 2M. @2ireless markup languageB all play an important role in bringing mobile banking strategy to the market. "or wired customers , businesses, the next phase in this evolution is wireless5mobile banking that is available anytime5anywhere from Falways G onH mobile device like mobile phones , personal digital assistants @P/%sB. 2ith the proliferation , cost5effectiveness of the mobile delivery channel, banks have bull5in delivery mechanism that can offer services , 37I:access regardless of where the customer happens to be. Jnlike P05based e banking, mobile banking provides banks with the unprecedented opportunity to reach their customer in an unrestricted environment. +he big benefit for banksC 'igher customer satisfaction , loyalty, more transaction5based fee revenue, lower cost of ownership, , an integrated customers relationship management channel. Mobile banking is, of course, still dependent on the Internet as a delivery network. +hat said, there are some critical differences between Internet , mobile banking services. +he most notable of these is the Internet users experiences via mobile interface verses the Internet experiences via standard device like P0s , laptops. %s mobile devices are limited to a tiny percentage of screen real estate, customers will place less emphasis on surfingKbrowsing , become transaction5focused customers responding to FpushH messages that reflect proximity as well as buying patterns. Pull5based customer interaction, such as those conducted via fixed5network devices like P0s, will ultimately decline in usage as push messaging becomes even more sophisticated.

&ntrod*ction o# Mo!i"e +an,ing +he Internet is revolutioniEing the way the financial industry conducts business, empowering organiEations with new business models and new ways to interact with customers. +he ability to perform banking transactions online has created new players in the financial industry, such as online banks and brokers who offer personaliEed services through their 2eb portals. +his increased competition is driving traditional financial institutions to find new ways to add the value to their products and services, gain competitive advantage and increase customer loyalty while also attracting new, high5value clients. Mobile and wireless technology, combined with the wide variety of portable devices available today, enables new revenue opportunities for financial services organiEations. +his provides a new channel that can be used to refresh and expand the customer base, attract prime customers and enhance loyalty. 2ith mobile and wireless technology, banks can offer a wide possibilities 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 convenience and time saving benefits of wireless financial services are huge. +he challenge, then, is how to turn these possibilities into a reality for the customers. +ene#its A- .ro/ ne/ c*stomer !ase and mar,ets : /eveloping wireless applications and services targeted at the mobile mass market will allow attracting new, high5value customers into mobile banking portal and expanding the reach to global markets. +- &ncrease s are o# c*stomer /a""et : +he convenience of having personaliEed wireless access to critical financial information is an invaluable service for customers on the move. -nabling the execution of time5sensitive financial transactions anywhere, anytime, provides the opportunity to strengthen the relationships with existing customers. +his ultimately results in an increased share of the customersL transactions55preventing them from taking a portion of their financial business elsewhere.

C- .ro/ assets0 n*m!er o# transactions and #ees : )ranting customers flexible access to financial information and accounts enables them to perform transactions when itLs most convenient for them. %s a result, they have the opportunity to conduct transactions more freAuently, driving increased revenue from fees. D- E1pand and en ance !rand presence: 1rand and reputation for convenience, service and innovation will be strengthened and enhanced each time customers on the move stop to check their stock portfolio or to pay bills wirelessly. +his also offers significant potential to grow the market.

MO+&LE NETWO(KS P(O'&DE THE FOLLOW&N. COMPET&T&'E AD'ANTA.ES

2-A"/ays 3 on 45 67 access:
Mobile networks will provide the ability for consumers to be transaction5 ready, much in the way cable access has facilitated online pc access and reduced consumer dial up delays 6888. 4-Ad8anced penetration o# mo!i"e net/or,s# 3) @second generationB networks already cover more than <= percent of the population in the western world, and this number is growing steadily. 9-Persona"i:ation# +hrough &IM @&ubscriber Identity ModuleB cards, mobile customers have a specific profile that enables customiEed functionality that directly reflects the way they want to transact business over mobile devices. +hrough the convenient addition of a multi5application relationship card, mobile customers will also have a built in platform for a host of other application services, including security keys, virtual credits cards, and other customiEed payment instruments. 5-(apid e8o"*tion o# g"o!a" protoco"s s*c as WAP ;/ire"ess app"ication protoco"<: +his enables the communication channel between computers and mobile devices. +he 2%P component essentially provides the facility for reformatting data for display on wireless hands. 5. Faster Data Processing Speeds: Increases in bandwidth and data transmission a speed makes mobile data services efficient and cost 5 effective in a real time environment. 6. Sec*rity -ffectively, the mobile banking transaction can be protected by a private key stored on &IM card and hence mobile phone can become a wireless wallet to protect proprietary and financial information.

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Mo!i"e !an,ing app"ications E1amined app"ications In the following, the main types of existing mobile banking applications are introduced. +hese build standard types as each of them is representative for a series of comparable applications. 2hile 2%P5banking and mobile banking via P/% are generic, &M&5banking and mobile banking with &IM +oolkit use specialties of the )&M standard. WAP=!an,ing +he most widespread solution for mobile banking is based on micro5 websites following the 2%P standard @2ireless %pplication ProtocolB. +he function of 2%P banking is in many ways similar to the function of -lectronic banking using http. +he client sends a reAuest and gets a response with page content, which is stored on or dynamically generated by a standard web server. +he main difference is in the usage of a 2%P gateway for the conversion of the protocols. %t banks must be considered that very sensitive data is processed. 2hile a normal content provider doesnHt has to observe special security precautions, and in some cases can even use the services of extern providers, has to secure its web server and 2%P )ateway especially against unauthoriEed access. +his is especially necessary because of the fact that inside the 2%P )ateway the encryption protocol is converted from &&.K+.& to 2+.& with the effect that data is not encrypted while it is processed. 2hile authentication is assured via a PI* @personal identification numberB of the user, authoriEation for transactions is realiEed via transaction numbers @+%*B. +his concept, known from the electronic banking, forces the user to carry a +%* lists with him in order to make transactions. SMS=!an,ing +he &hort Message &ervice @&M&B is a )&M service to exchange text messages up to 17= byte @or 19= characters of : bitsB. +he transmission of mobile5originated short messages is carried out by the short message service center @&M&0B of the particular network operator. +he &M&0 is receiving the message from the mobile device and routing it to the destination device.
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"or generating mobile5terminated short messages, it is possible that a company or a special service provider runs an own &M&0. +hus, a bank could generate &M& from bank data like account balance or account movements and send it to the mobile device of the customer. +his techniAue is used at &M&5banking# +he customer sends an &M& with a reAuest to the bank, and gets the desired data as an answer. +he customer has to include a PI* for authoriEation in every &M& he sends to his bank. %like the 2%P banking, one should pay special attention on the security of the location of the &M&0. Many service providers offer the operation of &M&0 as a service. +he usage of such a service is out of Auestion for banks, because of the high sensitive character of the transmitted data. "or this reason it is mandatory for banks to run their own &M&5 )ateway and secure it from unauthoriEed access. +he main problem with this kind of transmission is the missing encryption of the data during the on5 the air transmission between the service center and the mobile phone. %n encryption of pure text5&M& is not possible @unless an application on the mobile device would be able to decrypt the informationB.

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Mo!i"e Payment: An Additiona" (o"e For t e Mo!i"e P one> +he existing payment methods are dominated by cash and cards, because they are convenient and secure and moreover, there are no better alternatives. +he articles opines that paying for goods and services through a mobile phone could offer significant advantages over existing payment method, both in shop and online. 'owever, it says that problems related to convenience and security, for both buyers and sellers, still need to be resolved. Mo!i"e payment 3 t e /ay #or/ard>
Mo!i"e payment means:

-xecuting a payment transaction using a wireless device, e.g. mobile phone or personal digital assistant. Mobile device becomes an electronic payment device. Its >Mobility? is its big advantage# it enables payments to be transected regardless of place and times, and for both >bricks and morter?and Internet purchases. %nnouncements about new mobile payment solution appear regularly at the moment. Potential players form partnership and fight to win a place in >Mobile Payment?. +his player includes mobile operators, banks credit card companies, mobile device manufactures, smart card manufacturer and a whole range of mobile payment start5ups. -xisting mobile payment solutions are based on one of three distinct payment options# Prepaid /irect from credit card or current account Paid through phone bill +he three payment options vary in what is reAuired before the payment, the Payment process itself, and technology is used.

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Mo!i"e commerce 3
ST(ATE.&C &MPL&CAT&ONS FO( +ANKS

Must 2hen "inancial institutions began to consolidate their -5 0ommerce activities, % new challenges has emerged5Mobile 0ommerce. +his article attempts to clarify what 1anks are currently doing, what additional opportunities and risks exist, and what should be done to extract maximum from the M50ommerce markets. 1. +oday, banks across the world are delivering a wide range of core banking services through the mobile channel. aB In &ingapore, users can check balances, pay bills and transfer funds. +hey can also view the latest deposit and foreign exchange rates, get the latest stock market information as well as their personal watch. 1anks also use mobile technology to transfer important financial information to their customers @e.g., 'ome loan application approval, fixed deposit Maturity eminder, IP! %pplication esults and IP! &hare financing and %llotment esultsB. bB In the J&, 0harles &chwab offers trades, Auotes, alerts and notification both through the mobile phone display, and by means of an interactive voice Auote. cB Merita*ordbanken of &candinavia has established &olo, a 2%P51ased payment system, which enables customers to purchase from :== virtual stores and pay directly from their bank account by entering username, password and transaction number. dB 1anks are exploring the potential of mobile phones as an on5 the5spot payment device, which incorporates both debit and credit card. "unctionally. 3. In addition to being a new distribution channel for financial services, M5commerce presents the opportunity for banks to significantly expand their customer relationships.

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6. 0hallenges lifestyles and an increasing preference for speed and convenience are eroding the traditional affinity between customers and branch offices. %s new technology disinter mediates traditional channel, the core value proposition of a bank becomes fulfilling customer needs. /elivering this value proposition hinges on owning or earning the customer interface, through understanding individual customer needs and preferences, and bringing the customer a complete solution which satisfies his financial needs and gives him maximum conveniences. Instant access to customers through a user5specific device enables the delivery of targeted personaliEed services G the very nature of mobile access devices @ i.e., inputKoutput constraintsB encourages tailoring and bundling of services. "or example# % middle Gincome consumer would not want to receive an advertisement to buy a 1M2. !n other and, a high income banking customer might wish to receive the offer to buy the 1M2 at a special price, bundled with car loan, insurance, and the option of a monthly garage maintenance services. 7.1anks can transcend their traditional role as a channel for bankingKfinancial services and become providers of personaliEed and localiEed information, which facilitates the purchase of a wide range of goods and services. 1anks, which successfully leverage M5commerce can, Increase customer loyalty, in terms of acAuisition, retention and cross5selling, by providing tailored bundles of products and services to specific customers. -xploit additional sources of revenue transaction and third party referrals. from subscription,

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Terms and conditions go8erning t e *se o# ?SMS@= S&+ Mo!i"e Ser8ice0 t e Mo!i"e +an,ing Ser8ice ;P*s A"erts A P*"" (eB*ests< 2-De#initions: N0ustomerN shall mean a 0ustomer of Mobile 1anking. Pull eAuest facility means the facility granted by the 1ank of access to information relating to the savingsKcurrent accountKoverdraftKcash credit account @or any other type of account, that the 1ank may permit laterB, of the customer and usage of products andKor services as may be made available on mobile phone by the 1ank from time to time. Push %lert facility means the facility provided by the 1ank whereby a customer can obtain specific information pertaining to his accountKs on his mobile phone number. N%lert@sBN means the customiEed messages sent to the customer over his mobile phone as short messaging service @N&M&NB in response to the +riggers set by the customer. N+riggersN means the customiEed triggers that are reAuired to be set or placed by the user with the 1ank, which shall enable the 1ank to send the corresponding %lerts to the user for specific eventKtransactions relating to his %ccount. Mobile phone means the handset and &IM card along with the accessories and necessary software for )&M phones and handsets and software for 0/M% phones, which is owned by the mobile subscriber. >Mobile 1anking? or >"acility? or >service? shall mean the >Push %lert? andKor >Pull eAuest? facilities offered by the 1ank as &M&. Jser means the customer of the 1ank having registered for the Mobile 1anking facility and authoriEed by the 1ank to use the Mobile 1anking facility.

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Primary account means the main &avingsK0urrentK!verdraftK0ash 0redit account of the customer, from which the 1ank may deduct any service charges related to the service. NPersonal InformationN shall mean the information about the user obtained in connection with the "acility. >&ystem? refers to the 0entraliEed 1anking system, Mobile 1anking system or any other automated systemKs deployed by the 1ank. In this document all reference to user in masculine gender shall be deemed to include the feminine gender also. 4-E"igi!i"ity 2- %ny customer having a @residentK* -B &avings K0urrent K0ash 0reditK!verdraft account with any branch of the 1ank with 0entraliEed 1anking facility is eligible to avail the Mobile 1ankingK%lert facility, subject to all conditions mentioned in this &ection @-ligibilityB. +he 1ank may extend the facility @partially or completelyB to other accounts including term deposits and loan accounts if the customer has at least one &avingsK0urrent K!verdraftK0ash 0redit account. 4- +he 0ustomer desirous of using the "acility should both be the account holder and sole signatory or be authoriEed to act independently. In case of joint accounts, the facility shall be provided to the account holderKs only if the mode of operations is >-ither or &urvivor?, >"ormer or &urvivor?. -ach applicant will have to register separately for availing the facility. %ll the joint account holders would have to sign in the /eclaration authoriEing the 1ank to provide the facility to the applicant. In such cases, instructions of all the joint account holderKs authoriEing the user to use the "acility would be reAuired. %ll or any transactions arising from the use of the "acility in the joint account shall be binding on all the joint account holders, jointly and severally. %n account in the name of the minor, in which a minor is a joint account holder or any account where the mode of operation is >jointly?, is not eligible for the "acility. 6- +he 1ank shall extend the facility to the guardians of >)uardian !perated Minor %ccounts?.

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7. +he final discretion to offer this Mobile 1anking facility to a customer rests with the bank and if the bank decides, may withdraw such a facility at any time without notice and without giving any reasons.

9- Mo!i"e +an,ing #aci"ity %. Pull eAuest "acility 1. +he 1ank reserves the right to decide on the services to be offered to a particular user and different services may be offered to different users through mobile 1anking. 4- +he 1ank also reserves the right to make any additions or deletions or revisions in the services offered through Mobile 1anking at any time. 6- +he user shall, as a matter of customer protection, use a 75digit code number @PI*5Personal Identification *umberB in addition to the keyword to access the mobile 1anking service. %t present, the Jser has the option to choose any four5digit numberKcharacter as his PI* for the Mobile 1anking service. 7. +he Jser shall not disclose his PI*, if any allotted by 1ank, to any person or write K record it at any place whereby some other person can come to know his PI*. In case the Jser fails to follow K adhere to this, he shall be solely responsible for conseAuences arising thereon. 8.+he 1ank may, at its discretion, allow the customers to send instructions through Mobile 1anking, which would have to be executed. +he instructions of the Jser shall be effected only after confirming the authenticity of the Jser by means of validation of the mobile number of the Jser andKor through verification of PI*K password allotted by 1ank to the Jser or through any other mode of verification as may be stipulated at the discretion of the 1ank. 9- 1ank shall endeavour to carry out the instructions promptly, but the 1ank, shall not be responsible for the delay in carrying out the instructions or not carrying out the instructions, due to any reason whatsoever including failure of operational system or due to any reAuirement of law.

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7- +he Jser is also responsible for the accuracy and authenticity of the instructions provided to the 1ank and the same shall be considered to be sufficient for availing of the services under the "acility. 2here 1ank considers the instructions to be inconsistent or contradictory it may seek clarification from the Jser before acting on any instruction of the Jser or act upon any such instruction as it may deem fit, or not carry out the instructions. +he Jser and 1ank shall have the right to suspend the services under the "acility if 1ank has reason to believe that the JserLs instructions may lead to direct or indirect loss or may reAuire an indemnity from the Jser before continuing to operate the "acility. C- 1ank reserves the right to offer the "acility for those Jsers, who are availing the services of specific cellular service providers only. D-+he access of the Jser to the "acility shall be restricted to Jser availing of the "acility on the specific Mobile Phone *umber registered with 1ank for the "acility. +- Mo!i"e +an,ing A"ert #aci"ity 2- +he last updated mobile number in the records of the 1ank would be used to send the %lerts. %lerts are presently not available for two Mobile numbers for the same account. 'owever, more than one account may be set on a particular mobile number. 4-+he %lerts will be available to the users only if the user 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 Jser. 6- %lert shall be available only when the system of the 1ank is available. -very day the push alerts shall not be available for atleast 1= hours or more, during which the system will be used for backups and shall not be available for inAuiry. 'owever the 1ank shall endeavour to provide pull reAuests during this period also.

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5- (egistration #or Mo!i"e +an,ingEA"ert #aci"ity1. -ligible customers of the 1ank desirous of availing the services should submit an application in the specified form, duly completed, at the branch of the 1ank, where the customer has his primary account. 4-0ustomers of the 1ank shall be allowed to use the facilities only after hisKherKtheir application has been processed and the information furnished registered with the 1ank. +he processing of the application form shall reAuire a minimum of 1= days from the date of submission of the application. 9-0ustomer will have to activate the service after the 1ank sends the necessary instructionKuser guide to the customer. Jnless activated, the customer shall not receive any alerts or reAuest pull services. 5-+hese terms and conditions together with the application made by the 0ustomer and as accepted by the 1ank shall form the contract between the 0ustomer and 1ank, and shall be further subject to such terms as 1ank may agree with any other third party providing such services to 1ank which shall facilitate providing of the "acility by 1ank to the Jser. +hese terms and conditions shall be in addition to and not in derogation of the terms and conditions governing any %ccount of the user and Kor any other productKservices provided by the 1ank to him. F-+he 0ustomer undertakes that the 0ustomer shall provide accurate information wherever reAuired and shall be responsible for the correctness of information provided by him to 1ank at all times including for the purposes of availing of the "acility. 1ank shall not be liable for conseAuences arising out of erroneous information supplied by the 0ustomer. If the 0ustomer suspects that there is an error in the information supplied by 1ank to him, he shall advise 1ank as soon as possible. 1ank will endeavour to correct the error wherever possible on a best effort basis. 9. +he 1ank shall have the right to reject the application of any person without assigning any reasons.

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F- A*t ori:ation 1. +he user expressly authoriEes the 1ank to disclose to the mobile service provider K %&P all user information in its possession, as may be reAuired by them to provide the services to the user. 3. +he 0ustomer irrevocably and unconditionally authoriEes 1ank to access all his %ccounts for effecting 1anking or other transactions of the 0ustomer through the "acility. 6. %ll records of 1ank generated by the transactions 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. +he authority to record the transaction details is hereby expressly granted by the Jser to 1ank. 7. +he user authoriEes the 1ank to add, remove or change any service in mobile 1anking, partly or wholly, at 1ankHs discretion. 8. Jser authoriEes 1ank to send any message such as promotional, greeting or any other message that the 1ank may consider appropriate to the user. 9. +he Jser authoriEes 1ank to send any rejection message, if it finds that the reAuest sent by the Jser is not as per the 1ankHs formatKreAuirement. 7- +he 1ank shall make all reasonable efforts to ensure that the user information is kept confidential. +he 1ank however shall not be responsible for any divulgence or leakage of confidential user information. ;. +he user expressly authoriEes the 1ank to carry out all reAuest@sB or transaction@sB for andKor at the reAuest of the user as are available to the user through mobile 1anking facilities without the 1ank having to verify the authenticity of any reAuest or transaction purporting to have been received from the user through Mobile 1anking.

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G- Setting Triggers and (ecei8ing A"erts 1. +he user can enter his choice of alerts @as listed by the 1ankB in the Mobile 1anking registration form. "or any change in these parameters, he can separately reAuest in writing. %t a later stage, 1ank may provide this facility through Internet 1anking screen. 3- +he Jser shall notify the 1ank, in writing, if he desires to change his Primary account. 6. If the facility has been suspended for a particular user, the 1ank in its sole discretion may re5activate the service. In such cases, a written reAuest may also be insisted from the Jser. 7. +he 1ank will not acknowledge receipt of any instructions or +riggers nor shall the 1ank be responsible to verify any instructions or +riggers or the user PI* or password or mobile phone number. +he 1ank will endeavour to give effect to instructions and +riggers, on a best effort basis and as soon as practically possible for the 1ank. +he 1ank shall not be responsible for any deficiency or delay in effecting the service or in effecting modification of the triggers. 8. +he 1ank may, in its discretion, not give effect to any +riggers if the 1ank has reason to believe @which decision of the 1ank shall be binding on the userB that the triggers are not genuine or otherwise improper or unclear or raise a doubt or in case any +riggers cannot be put into effect for any reasons whatsoever. 9. +he user acknowledges that to receive alerts, his mobile phone number must be active and accessible. +he user acknowledges that if the userHs mobile phone number is inaccessible or inactive continuously the user may not receive the %lert message sent by the 1ank. :. +he 1ank will process +riggersKModification of triggers after receipt and the 1ank shall have the discretion to determine the time taken to process such reAuest. +he user acknowledges that there shall be an intervening period between receipt of +riggers by the 1ank, process of the +riggers and the time that the %lerts are sent.

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C*stomer reB*irements #or mo!i"e !an,ing app"ications

Set o# c*stomer reB*irements

+echnical reAuirements Jsage is possible with both kinds of devices %daptation to device Jsage regardless of network operator &mall amount of transmitted data Jsability reAuirements Possibility to work offline &imple data input method esumption of usage at the same point !ne50lick5 eAuest /esign reAuirements Possibility to personaliEe the application Possibility to scale the application %nnouncement of events 2ide range of functionality &ecurity reAuirements -ncrypted data transmission %uthoriEation of access &imple %uthoriEation

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Co*"d Mo!i"e +an,ing .o ."o!a" People who have never had a bank account could enjoy basic banking facilities for the first time due to mobile financial services. 1asic mobile financial services are already available in developed countries. 'owever, the article explains that it makes more sense for mobile financial service providers to target emerging markets where mobile devices will make more impact since this markets have limited wire networks. +he services are cheaper to build and offer customer have fewer alternatives. +o cash full potential of emerging markets, reAuires a right kind of alliance with leading financial firms and telecom companies including merchants and retail chains. Emerging mar,ets: T e greater opport*nities Mobile financial services are just that# financial service delivered through the medium of mobile handset. Jsers can make basic inAuiries about their balances or, in a more complicated maneuver, their Payments. 1asic services are already widely available in developed countries and in the more sophisticated emerging markets, such as 'ong $ong and &outh $orea. &o far, though, user in this market remains unimpressed by the services, and providers havenHt been able to charge anywhere near what they cost to deliver. 0onsumers and business in emerging markets are likely to find mobile financial services more attractive than do their counterparts in developed markets, because they have fewer alternatives. "or many remote or low income consumers, mobile handsets and mobile internet could first times, provide access to financial service such as basic banking and electronic paymentO otherwise financial providers find such segment impossible to serve cost5 effectively. Mobile networks are cheaper to build than fixed lines networks, and mobile services are generally to roll out than their precursorsO a mobile payment network, for example, can cost less to create and operate than an electronic point5 of5 sale @posB merchant networks. +his means that some countries will be able to leapfrog over intermediate technologies and move directly from a paper based payments systems to a mobile one, without ever having to build an extensive wired P!& or %utomated Gteller5 machine network.

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Mo!i"e +an,ing: No /ires0 No /orries0 Ne/ C*stomers Mobile communication devices are revolutioniEing banking transactions over wireless network and the Internet. +o attract and retain customers, bank need to exchange their full range of services across a wide range of Mobile, wireless devices without having an impact on their current infrastructure and the delivery channels it currently supports. 2ireless *etworks, Mobile )ateways, 2ireless %pplication Protocol @2%PB , 2ireless Markup .anguage @2M.B all play an important role in bringing mobile banking strategy to the market. In addition to established traditional channels, including branch banking and %+M banking, most major banks in today market now offers e5 banking as an extension to their existing array of services , conveniences of wired consumers , businesses, the next phase in the revolution is wireless5 mobile5banking that is available anytime anywhere from Falways5onH mobile devices like mobile phones and personal digital assistant @P/%B. 2ith the proliferation , cost effectiveness of mobile delivery channel, banks have a built5in delivery mechanism that can offer services , 37P: access regardless of where the customer happens to be. Jnlike P051ased -5banking, M5 banking provides banks with the unprecedented opportunity to reach their customers in an unrestricted environment. +he big benefits for banksC 'igher customer satisfaction , loyalty, no transaction5based fee revenue, lower cost of ownership and integrated customer relationship management channels. .enera" considerations % mobile banking application is, first of all, a mobile application. +o conceptualiEe a mobile application, additional informational added values have to be targeted, using mobile added values Q17R. In other words, it is far from sufficiency to just porting an existing Internet application on a mobile device. Mobile applications have to be specifically made5to5measure on the one hand side to the needs and expectations of the mobile user and on the other hand side to the specific restrictions of mobile communication techniAues and mobile devices. In order to derive a set of reAuirements to mobile banking applications we pursue two steps# "irstly we identify general characteristics of the mobile use, which are relevant. &econdly we closely watch the user and his context when wanting to use mobile banking.

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Mo!i"e !an,ing *se cases % mobile user has to be seen from his context when using the application. *eeds and expectations are not generic, but bound to this context. %s a typical mobile banking user, we consider someone who already is an electronic banking user shows significant affinity to technology and often finds himself in situations where he can not @or does not want toB rely an infrastructure necessary for electronic banking. In the following, we introduce four use cases. +hese have been developed in the course of two group discussionsO each group consisted of mobile banking users and mobile commerce experts. +he groups focused on identifying real5 life situations in which the use of mobile banking provides an informational added value. +he resulting situations have been aggregated to the use cases +he use cases are not exhaustive, but representative# -ach case stands for a series of cases, which are similar in the depth of the desired information andKor the conditions of the usage. "or each use case we identify the most important, concrete need that the user has in this particular situation. %se case 2: (eB*est o# acco*nt !a"ance. +he user is in a mobile situation @e.g. in a department storeB and intends to know his account balance, e.g. to verify his account before realiEing a spontaneous purchase. esulting need# Duick obtainment of account balance. %se case 4: Contro" o# acco*nt mo8ements +he user is waiting for an important cash receipt on his account. 'e intends to have the exact details of the cash receipt. esulting need# 0ontinuous control over movements on the account. %se case 9: &nstant payment+he user is in a mobile situation and intends to make a payment by bank transfer from his account. esulting need# Instant execution of a bank transfer. %se case 5: Administration o# t e acco*nt+he user intends to use spare time @e.g. using a train or waiting on the airportB to administrate his account. esulting need# Duick and easy5to5use execution of transactions and administration is possible.B

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Mo!i"i:ing +an,ing So"*tions : +est Practices &ecurity in the 2ireless world is complex and different from tethered network security models. )reater demand to share information is putting stress on companies to prevent information from falling into wrong hands. 2ith the growth of 2ireless phones, the demand for Mobile banking services is escalating. +o stay competitive, banks are deploying compelling 2ireless applications. Mo!i"e +an,ing So"*tions: 2ireless applications offer the opportunity to provide secure, actionable, real5time data through a highly personaliEed service. &ome of the services are# !ffer account services# +hese applications allow bankHs customer to apply for new banking services, choose features of existing banking services, and personaliEe banking services. Provide account information# 0ustomer5driven Fon5demandH reAuest for a variety of account information including account balances, stock portfolios and billing information. -xecute transactions# +ransactional applications enable customer to wirelessly transfer balances, pay bills and conduct foreign exchange orders. Provide transaction history and aggregate banking information# 0ustomers can review banking events for a number of accounts and wirelessly retrieve banking and non5banking information. +ransmit banking alerts and reminder messages # 0ustomer5controlled alert profile enable rapid response to news and banking events, 1anking advice may also be distributed through these applications. -nable 2ireless messaging# 2ireless messaging, including &M&, e5mail and instant messaging, allows customers to interact with portfolios managers, bank officials and other customers.

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-xtend banking portals# 1anking portals provide useful content for customer and provide the banks the opportunity to cross5sell other products or services. !ffer location5based banking services# +hese applications enable subscribers to access services that are tailored to their geographic location, such as the location of nearby offices, branches, agents and %+Ms. Mo!i"e P"at#orm Se"ection Criteria : +o successfully support banking applications, mobile platform must support a number of standards to allow banks to leverage existing technologies for the subscribers that access them. % number of standards are provided below# +ransactional interface with back5end data# Mobile banking applications are not simple extension of internet. +he procedure of FscrapingH 2eb5based information and transmitting it to wireless devices produces very fragile and unreliable banking applications. Mobile platforms should connect directly to back5end data sources and use open standard to support transactional applications. &ecurity # Mobile platform should support extremely high level of end5 to5end security including support for privacy, encryption, two5factor authentication, data integrity, and non5repudiation. /ifferent levels of security will vary based on reAuirement that change for the siEe of transaction, the parties involved, and the type of information exchanged.

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Sec*rity #or Mo!i"e !an,ing It is clear that for the mobile phone to become a transactional device, the security of all personal data transmitted through the wireless handset will be critical. Must as e5commerce over fixed5 line Internet device can hardly be expected to flourish if frauds or theft is easy. 1usiness and consumer subscribers, commercial entitles and industries are unlikely to make full use of the potential of the new mobile communications media if they are insecure. %lthough security is mainly a matter of technology, there are two other important aspects, legal protection and consumer perception. Tec no"ogy: 2ithin the next few months some real improvements will appear in the security of mobile payment technology platform. 2hen analyEing the security of a mobile payment transaction, we have to consider three distinct areas# the buyer, the medium between the buyer and seller. &ecurity on the buyerHs side implies security of the access device. 1ecause mobile device belongs to an individual, it is inherently more secure then a shared device. &olutions such as P$I @public key infrastructureB and &IM3 @second I/ ModuleB will be introduced to the market early in 3==1,which will significantly improve security for buyers. eal improvement in the security of the medium between buyer and seller will occur when 6) networks becomes operational. +hese 6) networks are based on technology @already used in current networks in the J&, Mapan and $oreaB that using complex encoding and decoding algorithms, originally developed by the military. !n the sellerHs side, acceptable level of security will also be available in early 3==1,when wireless +ransport .ayer &ecurity @2+.&B will be introduced. 2+.& Is an -ncryption technology, which makes sure that everything sent by the buyer, is received by the seller.

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Lega" iss*es: +here are two legal issues for mobile payment5 customer protection and non5repudiation. +o build consumer confidence, customer protection against fraudulent usage has to be well established and clear. +o introduce new laws, or adjust existing legislation, for a new payment method takes times, as unanticipated issues can crop up. +his is the main non5technological reason why the security of a payment method improves over time. +he second issue is on5repudiation of a transaction. 2hile accepting credit cards, the seller uses the buyerHs signature to prevent repudiation. .egalising digital signatures, as proof of purchase in the virtual world, will prevent buyers from disputing their online transactions. Perception: +he public perception of the security of a new payment medium is less manageable than the technology and legal aspects, yet can make or break it. 1oth sender and recipients must have confidence that the information they transfer will arrive securely and in confidence. +here can be huge differences in the perception of security between different cultures, which make the issue even more complex and less predictable. "or example, in the J& the credit card is perceived as much more secure than in -urope G a major reason that the credit card took much longer to be accepted in -urope, and still is not as successful there as in the J&. Con8enience Con8enience #or !*yers: +o make mobile payment an attractive substitute for existing payment methods in the >bricks and mortar? world reAuires completely new shopping concepts. "or example, to make mobile payments more convenient than, say, the smart card, the customer should be able to pay wherever he or she is in the shop. In the e5commerce world a shortage of content is currently the main inconvenience for buyers# both the choice of vendors and choice of products and services is limited.

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Con8enience #or se""ers: +he new shopping concepts reAuired in >bricks and mortar? if buyers are to make mobile payments at the sellers end, which may not be sufficiently attractive as yet. %n additional factor, which discourages and seller from investing, is the current lack of standards, which makes investment very risky. 'owever, industry standards for mobile payment are now under development, and more are expected in the near future. +hese standards will give direction to the @furtherB development of mobile payment systems. %n example of a recently introduced standard is -lectronic 0ommerce Modeling .anguage @-0M.B, which addresses the issue of general payment protocol combined with the ability for enders and brands to individualise the mobile e5wallet options they provide for their own customers. Sec*rity in t e WAP En8ironments: Must as security continues to be a barrier for Internet purchase and online financial management, so too is it a foremost concern in a wireless environment. +o ensure success as a transactional device5 which is exactly how the latest generation of mobile handsets are positioned in the industry5 security standards will continue to play the leading role in swaying consumer confidence and downplaying the omnipresent fear of fraud. +he senders and recipient must both have confidence that the information they transfer arise securely and in confidence. P$I @public key infrastructureB technology provides a security solution that is superior to standard &&. in that is protects both the integrity of the data stream in addition to verifying the participates engaging in a private, confidential transaction. In simplest terms, P$I involves private and public keys shared between two parties engaging in a secure transaction. % third5 party certificate authority signs a third element, the digital certificate. In this scenario, if the userHs handset is eAuipped with a smart card reader @which is an increasing trendB, the private key could be downloaded from the smart card on to the mobile phone. +his obviates any potential security risk that could be introduced when a public key is distributed online.

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Multi5application relationship cardsKsmart card are also efficient storage centers for virtual credit cards, debit cards, and other payment instructions, providing a more tightly integrated personal device. T e potentia" #or s*ccess: Mobile payment has the potential to become successful as convenient and secure payment method after the barriers described above have been removed G probably over the next two years. It seems certain that the main security will be overcome by the end of 3==1,when new technologies are available and and when the legal issues have been resolved in most countries. In the Internet world, selling should take off Auite soon after the security issues have been resolved. %t the moment there is a lack of content, but if open standards are established soon, a lot of start5ups will probably appear to deliver this content. In >bricks and mortar? the take5off of mobile payment is expected to be slower, because of the huge investments reAuired. &o most sellers will probably wait until standards are clearly defined and mobile payment has proved successful in e5commerce. Introducing the mobile delivery channel into an integrated multi5 channel strategy is a challenge that will have lasting benefits in the future, providing financial institution with a Fchannel readinessH that enables Auick repose to emerging consumer trends. %s In most successful initiatives in the worlds of e5commerce and m5commerce, partnership with the right technology players is critical. +hese relationships will help to bring the mobile banking channel to maturity, as the solution that best combines convenience, security, portability, application richness, and the flexibility reAuired to bring new products and services to market Auickly. %s global financial institutions are discovering today, the infrastructure reAuirements can be challenging, but not nearly so challenging as tiring to retain banking customers that are moving into the wireless age, with or without their trusted service providers.

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C aracteristics o# t e mo!i"e *se +he use of mobile applications underlies several specific restrictions. 2e consider five characteristics of the mobile use to be particularly relevant as they greatly influence the design of mobile banking applications and the suitability of certain technical solutions. % mobile application is used via a mobile device. "or these devices @currently either a mobile phone or a P/%B, special limitations are valid ."or the mobile banking contextO above all, these are the limited input and display capabilities. +he connection is provided by a mobile network operator @M*!B. +his is especially important if applications need to access certain parts of the infrastructure, which are under control of the M*! @e.g. the &IM cardB. In the case of negotiations, these have to be pursued with all M*! on the designated market. +he use of mobile data transmission is expensive. In the case of circuit5switched data transmission. @-.g. )&M0&/ or '&0&/B this extends to the connection time, in the case of packet5switched data transmission @e.g.)P &B this extends to the transferred data volume. &ensitive data is transmitted. +his implicates the use of adeAuate security measures. % disruption of the usage is possible at any time. +his is principally already true for electronic banking as well @the connection may e.g. be disrupted by a breakdown of the transmission or of the operating system of the client 0omputerB and provides a special necessity to avoid incomplete transactions.

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.enera" conditions o# mo!i"e !an,ing -lectronic banking is one of the most successful business5 to5 consumer applications in electronic commerce @-0B. 1anks greatly support this not only because they could meet their customersH need for convenience but also because of the enormous economic impacts in replacing a high5cost channel @bank clerksB through a low5cost channel @a central web serverB for simple transactions, with the additional benefit of eliminating the necessity for a media conversion. &ince users considered their mobile phone as a personal trusted device making it to an integral part of their lives and more and more of these devices became Internet5 enabled, the regular conclusion was the transformation of banking applications to mobile devices as the next step of electronic banking development. "or mobile banking, the advantages even go much further than for electronic banking# +he high penetration of mobile phones reaches all social levelsO mobile applications disband the limitations of electronic banking as they allow for a use anytime5anywhere and the subjective and objective security of the device is higher than that of a personal computer. /espite all of this, more than four years after the start of the first mobile banking applications customers simply do not use them and utiliEation figures stay very far behind all expectations @e.g. Q1RB. Mobile banking as an established channel still seems to be a distant prospect. +he reasons for this great disappointment are to be analyEed. /oing so in the following sections, we do not intend to start with current applications @which could mean biasedB but from scratch, with an analysis of the customer reAuirements to such applications.

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Case st*dy=HDFC !an, '/"0 1ank .imited, a private sector bank, provides financial services to corporations, and middle and upper5income individuals in India. It has three divisions# 2holesale 1anking, etail 1anking, and +reasury !perations. +he 2holesale 1anking division provides loans, deposit products, documentary credits, guarantees, bullion trading, and foreign exchange and derivative products. It also offers cash management services, clearing and settlement services for stock exchanges, tax and other collections for the government, custody services for mutual funds, and correspondent banking services. +he etail 1anking division provides various deposit products, as well as loans, bill payment services, gold and silver credit cards, debit cards, third party distribution, investment advisory services, card and automated teller machine @%+MB acAuiring transactions, and depositary services. +he +reasury !perations division offers foreign exchange and derivative products for its clients. In addition, the bank provides telephone, Internet, and mobile telephone banking services. %s of March 61, 3==8, it operated 79: branches and 1,17: %+Ms in 311 cities. +he company was incorporated in 1<<7 and is headAuartered in Mumbai, India. Prod*cts : %ll of our products support over 3,8== mobile devices across *orth %merica, -urope, and %sia so no need to worry about compatibility problemsS '/"0 1ank offers organiEation fast, easy, robust solutions for enterprises looking to streamline and integrate business operations onto mobile devices. !ur solutions are compatible with all mobile devices on the market. 0ustomers, employees and business partners can use their existing mobile devices, which reduces application development costs and improve your companyLs time to deployment. Mo!i"e +an,er : Mobile 1anker enables a bankLs account holders to directly interact with the bank through their mobile phone, P/% or P0. It is a web5based service that
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enables account holders to re5order checks, stop check payments, and make account corrections. +hrough the &M& generator, customers can receive instant alerts for items such as rates for mortgage, 0/s, and auto loans. +his is an extremely powerful application when combined with our Mobile Marketing 0ampaign component. 1anks can now directly target their customers with new promotional offers right to their mobile phones. Mobile marketing campaigns typically enjoy a 18T to 3=T response rate so the payback is instant. 0ustomers can use their mobile handset to resolve a number of customer service issues such as account corrections or transaction errors. -ach service reAuest is tracked through real time updates in the work flow. 0ustomers can track the status of their service reAuest right from their mobile phone, P/%, or P0. 2hen the service reAuest has been resolved an email or &M& alert can be automatically sent to your customer right from the application. +his application can also be integrated with the mobile web site component which allows banks to market their services to the growing mobile Internet audience. Mobile 2orkflow Manager 5 Issue tracker , workflow manager for mobile users Mobile 2orkflow Manager is a powerful web5based tool that allows customers, employees, and business partners the ability to submit and track issues right from their mobile phone. +hrough simple and intuitive forms, customers can conveniently make service reAuests right from their mobile phones. +he application is flexible and can be customiEed for a variety of industries. Jsing our 2ork "low -ngine, service reAuests will be automatically tracked and routed to the correct department or person within your organiEation. -mail or &M& alerts can be set up in the process flow to notify customers, employees or business partners of the status of their issue. Jsing &M& short codes @text messagingB, your targeted users can enroll, subscribe or even be directed to 2%P @webB page for additional information or data collection. Mobile 2orkflow Manager is a web5based mobile platform that provides# +racking 5 +racking issues, services reAuests, claims, orders from your P0 and K or mobile device. 2orkflow 5 %utomatic routing and notification to get issues resolved. Process Management 5 Managing your companyLs process for esolving issue.
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&tatus 5 eal time status updates of issues for P0 and mobile users. %ccountability 5 'istory and audit trail. Mobility 5 (our customers can submit issue, service reAuest, or claim from anywhere in the world using any mobile device. 0ompatibility 5 !ver 3,8== Internet ready mobile devices are supported across *orth %merica, -urope, and %sia. +his solution supports customers in a broad range of industries such as pharmaceutical, insurance, retail, hotel , restaurants, travel, airlines, transportation, consumer electronics, publishing, broadcast, entertainment, government and education. Mo!i"e Patient (ecr*iter G *ow you can integrate mobile messaging @&M& K text messagingB with other advertising efforts to accelerate the recruitment process. !ur solution can be easily integrated with your current print, radio, and +4 advertisements. % simple short code placed in your advertisement instructing your audience to send a text message is all that is reAuired. +his capitaliEes on mobile marketingLs greatest attribute, the ability to instantly respond and receive timely information. Jpon submission of the text message, respondents can be sent a web link where they can privately read more information about your study. Potential patients can then be prompted to answer Auestions to pre5Aualify them based on your reAuirements. 2hen a potential patient matches your criteria, their information will be forwarded to the nearest investigator site for follow up. +he collected data is instantly available via the web for all project team members. esults can be analyEed on daily basis to determine the most effective advertising medium such as print or radio. Patient retention can also be improved by sending &M& alerts to their mobile phones for appointment reminders. !ur platform supports all Internet ready mobile device types and can be used across *orth %merica, -urope, and %sia . 2hen compared to traditional advertising alone, we have seen mobile marketing response rates up to 8 times higher. Mo!i"e Patient (ecr*iter pro8ides: Message delivery is supported for mobile subscribers in over 1;= countries. %ll major wireless carriers are supported. &hort code acAuisition , management. Interactive 35way messaging.
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eal time web based reports to manage recruitment and analyEe media purchases.

Mo!i"e De"i8ery Management +rack5It5&tat 5is a web based delivery management solution that integrates Internet ready hand5held P/%s and mobile phones to monitor and track shipments through any number of internal departments, branch offices, or external locations. +he solution is ideal for banks, couriers, transportation , logistics companies and any organiEation with a need to track shipments. Mo!i"e 'ideo Porta" : +he mobile video converter component can be combined with the Mobile 0ontent Management &ystem @Mobile 0M&B and provide a complete storefront with mobile device download capabilities. +he mobile 0M& is a pre5configured Internet portal with video download and streaming capabilities. 0ustomers can log on to your web site, browse video titles and download them directly to their mobile device. Mo!i"e +an,ing A"erts &ome banks also provide the facility of Mobile 1anking %lerts where you can get regular updates of transactions in your account as they happen. +hese include# 0redits to your account @ you choose a threshold credit amount, above which youLd like to be alerted B. /ebits to your account @ you choose a threshold debit amount, above which youLd like to be alerted B. 0heAue returned @ )et to know every time a cheAue deposited in your account is returned B .

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Conc"*sions and O*t"oo,

In the preceding sections we analyEed the relevant customer reAuirements to mobile banking. 2e examined general M5banking conditions and identified relevant M5 banking use cases as well as special characteristics of the mobile use of an application. 1ased on these results we derived a set of reAuirements, which we employed later to assess four state5 of5the5art standard types of M5banking applications in order to identify their major shortcomings, show opportunities for their improvement and discuss the upcoming new technology along with their possible impact. and an explanation of major failure reasons along with opportunities for their improvement. +he major goal of the banks is to repeat G and if possible expand G the big success of Mobile banking. 1ut the banks have to keep in mind that the usage of M5banking is taking place under completely different circumstances 5 under the application of mobile commerce rules. *one of the technologies can provide a M5banking solution that works completely without problems and satisfies the customer. +he recommendation to the banks should be not to focus on one technology only, but to use the advantages of different technologies. !nly with a respective combination of new technologies it will be possible for banks to achieve success in mobile banking in the long run.

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App"ication #or &nternet +an,ing0 P one +an,ing and Mo!i"e +an,ing @%ll fields with I are mandatory to be filled.B *ame of the applicant# Mr. KMs. KMrs. UUUUUUUUUUUUUUUUUUU UUUUUUUUUUUUUUUUUUUUU UUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU "irst *ame I Middle *ame I &urnameI %ddressIUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU UUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUUU 0ity I# UUUUUUUUUUUUUUUUUUUU Pin 0ode# -mail %ddress I# UUUUUUUUUUUUUUUUUUUU VUUUUUUUUUUUUUUU Phone *o. Mobile *o. # UUUUUUUUUUUUUUUUUUUUUUUU MotherLs Maiden *ame I# /ate of birth I# UUUUUUUK UUUUUUUK UUUUUU dd mm yy IB In case of joint accounts, the applicant is reAuired to obtain the attached mandate from the joint account holder@sB. IIB '/"0 1ank accountholders can access their bank accounts through '/"0 1ank Internet 1anking only where the mode of operation of '/"0 1ank account is &ingleK-ither or &urvivorK%nyone or &urvivor. Please tick one of the following#

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H*estionnaires A< +an,ing point o# 8ie/ : 2< W et er Mo!i"e +an,ing is more con8enient t en Traditiona" +an,ing> a< )es !< No c< Not yet e1perience 4< According to yo*0 / ic category o# comm*nity are re"ay on M=+an,ing> a< +*sinessmen !< Common peop"e c< Pro#essiona" d< Ot er +< C*stomers point o# 8ie/ : 2< Wit / ic #aci"ities o# !an,ing yo* are most satis#ied> a< Traditiona" +an,ing !< &nternet +an,ing c< Mo!i"e +an,ing d< Ot er 4< Are yo* satis#ied /it t e #aci"ities pro8ided in Mo!i"e +an,ing> a< )es !< No c< Not yet e1perience 9< W ic #eat*re o# Mo!i"e +an,ing yo* "i,e more> a< F"e1i!i"ity !< Time sa8ing c< D*ra!i"ity d< Easy accessi!i"ity 5< Do yo* #ee" Mo!i"e +an,ing is Cost"ier t en ot er modes o# +an,ing> a< )es !< No c< Not yet e1perience F< W et er yo* are #acing any pro!"ems0 / i"e *sing M=+an,ing Systems> a< )es !< No c< Not yet e1perience

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G< Wo*"d yo* "i,e to gi8e any s*ggestions to pre8ent pro!"ems o# M=+an,ing> a< )es !< No c< No S*ggestion Ans/ers: A< +an,ing point o# 8ie/ : 2< W et er Mo!i"e +an,ing is more con8enient t en Traditiona" +an,ing>

10% Yes 30% 60% No Not experience

E1p"anation : Mobile 1anking is more better then +raditional 1anking because it offers more facility like %lert facility,&M& facility and customer can access to their bank blance at any time. *o,Mobile 1anking is not convenient then +raditional 1anking as it involve more formalities and middle class, lower class customers can not affored to Mobile 1anking. *ot yet experience, %s some customers are totally unaware of Mobile 1anking. I conclde that, most of the customers of bank are feel thet Mobile 1anking is more convenient.
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4< According to yo*0 / ic category o# comm*nity are re"ay on M=+an,ing>

10% 20% Bussinessmen Common Professional Other

60% 10%

E1p"anation : %s per chart, 9=T of 1usinessmen relay on Mobile 1anking because, they mostly involved in stock exchange so they reAuired each and every update of stock market which the get easily on their mobile by availing Mobile 1anking. !nly 1=T of common customers of bank are availing Mobile 1anking service because they are interested in depositing and lending of their money in their account. Professionals like .awyer, /octor, -ngineers, are availing Mobile 1anking only up to 3=T. 2e conclude that, most of 1usiness customers of bank are using and relay on Mobile 1anking. +< C*stomers point o# 8ie/ :
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2< Wit / ic #aci"ities o# !an,ing yo* are most satis#ied>

10%

10%

40%

40%

Traditional o!ile "nternet Other

E1p"anation : %s per chart, there is eAual percentage for Mobile 1anking and Internet 1anking because both offer wide services. +hrough Mobile 1anking customer can chack their account details on Mobile, whereas in Internet 1anking customers have to visit to cyber to check. !n other hand +raditional 1anking is a used 1=Tof customer. 0onclusion is that, Mobile 1anking and Internet 1anking both are satisfying customers. 4< Are yo* satis#ied /it t e #aci"ities pro8ided in Mo!i"e +an,ing>
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$0 60 #0 40 30 20 10 0 Yes No Can%t&sa'

E1p"anation: (es, :=T of customers of bank are satisfied with Mobile 1anking because of its latest facility. 3=T of customers are not satisfied because they are not comfortable with formalities of Mobile 1anking. 1=T customers have no idea about Mobile 1anking so there is no Auestion of satisfaction.

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9< W ic #eat*re o# Mo!i"e +an,ing yo* "i,e more>

1#% 30% 1#% (lexi!ilit' Time&sa)in* +ura!ilit' ,ccessa!ilit'

40%

E1p"anation : In todayHs modern world every customer has value of +ime, so they acAuire latest facility which is time saving. +here is 7=T of customers are availing Mobile 1anking system for the sake of time saving. 6=T of customers used this facility as flexibility offered by this system, itHs easy for them to access any information on mobile like latest updatation of stock market, bank balance checking, eminder facility etc. Mobile 1anking can be easily accessible and is /urable in nature.

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5< Do yo* #ee" Mo!i"e +an,ing is Cost"ier t en ot er modes o# +an,ing>

-%

#0% 41%

Yes No Can%t&sa'

E1p"anation : (es, Mobile 1anking is costlier because this facility is availed by only those customers of bank, which has, 1B &aving %K0 of same bank 3B /emate %K0 of same bank 6B 0redit card of same bank &o middle class and lower class customers need not to have demate %K0 and 0redit card , it also charge for %lert and &M& facility. &ome customers of bank reAuired Mobile 1anking and they deal in lakes so they not feel that Mobile 1anking is costlier. <T of customers are not familiar with Mobile 1anking and they are happy with the +raditional 1anking. %fter taking into account all factors I conclude that Mobile 1anking is 0ostlier.
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F< W et er yo* are #acing any pro!"ems0 / i"e *sing M=+an,ing Systems>

#0 40 30 20 10 0

Yes

No

Can%t&sa'

E1p"anation : (es, there is problem in Mobile 1anking regarding lack of security, lack of personal touch, lack of efficiency, some times problem in accessibility. *o, there is no problem in Mobile 1anking. -verything is up to the satisfaction level. I conclude that, in spite of various problems in Mobile 1anking is best.

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G< Wo*"d yo* "i,e to gi8e any s*ggestions to pre8ent pro!"ems o# M=+an,ing>

3#%

Yes #% #% No Can%t&sa'

60%

E1p"anation: (es, there should be personal touch i.e. instead of sending message, if there is facility that we can solve our problems with bankers personally. &M& facility is good but need to grow. *o, there are no suggestions regarding Mobile 1anking, as everything is perfect. &ome personnel didnHt have knowledge about Mobile 1anking so there are no suggestions from their point of view. %t last I would like to conclude that with some innovations, Mobile 1anking can become popular in middle class and lower class customers.

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+i!"iograp y 1. -5banking# the global perspective G)upta 4ivek 3. -50ommerce in Indian banking G 1hasin 6. 1anking and "inance G 0.M.0haudhary 7. I+ in 1anks 5 $atury *ageshwara ao. 8. 4isiting '/"0 branch at %ndheri @westB /e!i!"ograp y 1.www.google.com

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