MOBILE BANKING

INTRODUCTION
Mobile 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 1. Push 2. Pull  On the basis of nature of service 1. Transaction Based 2. Enquiry Based

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.

MOBILE BANKING SERVICES

 Account Information  Payments, Deposits,

withdrawals, and Transfers  Investment  Support  Content Services

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

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 banking

1. Interoperability 2. Security 3. Scalability & Reliability 4. Personalization 5. 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

 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.

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

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

CONCLUSION

THANK YOU!!!