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

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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.
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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.
Hypotesis:
+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.
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Ta!"e o# Contents
*!. Particulars Page*o
1. %cknowledgement 3
3. "inding 6
6. +able of content 7
7. -xecutive summery 8
8. Introduction 95:
9. Mobile *etwork provide competitive advantages ;
:. Mobile 1anking %pplications <51=
;. Mobile payment5%n additional role for Mobile phone 11
<. M50ommerce5strategic implications for banks 13516
1=. +erms and conditions governing the use of >&M&?5&I1
Mobile service,@Push %lerts , Pull reAuestB
1753=
11. 0ustomers eAuirements for Mobile 1anking %pplication 31
13. 0ould Mobile 1anking go global C 33
16. M51anking5*o 2ires, *o 2orries, *ew customers. 36
17. M51anking use cases 37
18. M51anking solutions # 1est practice 38539
19. &ecurity for Mobile 1anking 3:56=
1:. 0haracteristics of Mobile use 61
1;. )eneral conditions of Mobile 1anking 63
1<. 0ase study of '/"0 bank 66569
3=. 0onclusion and suggestions 6:
31. %pplication form for Mobile 1anking 6;
33. Duestionnaires 6<578
31. 1ibliography and 2ibliography 79
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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.
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&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 sare 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.
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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 enance !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.
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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 te Mo!i"e Pone>
+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 te /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 from subscription,
transaction and third party referrals.
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Terms and conditions go8erning te *se o# ?SMS@= S&+ Mo!i"e Ser8ice0
te 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.
1:
1:
5- (egistration #or Mo!i"e +an,ingEA"ert #aci"ity-
1. -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.
1;
1;
F- A*tori: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.
1<
1<
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.
3=
3=
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
!ne50lick5eAuest
/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
31
31
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: Te 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.

33
33
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.
36
36
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# te 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
37
37
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.
38
38
-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.
39
39
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.
Tecno"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.
3:
3:
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.

3;
3;
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 te 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.
3<
3<
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.
Te 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.
6=
6=
Caracteristics o# te 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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61
.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.
63
63
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
66
66
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.
67
67
&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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68
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 .

69
69
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.
6:
6:
App"ication #or &nternet +an,ing0 Pone +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#
6;
6;
H*estionnaires
A< +an,ing point o# 8ie/ :
2< Weter Mo!i"e +an,ing is more con8enient ten 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< Oter
+< 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< Oter
4< Are yo* satis#ied /it te #aci"ities pro8ided in Mo!i"e +an,ing>
a< )es !< No c< Not yet e1perience
9< Wic #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 ten oter modes o#
+an,ing>
a< )es !< No c< Not yet e1perience
F< Weter yo* are #acing any pro!"ems0 /i"e *sing M=+an,ing
Systems>
a< )es !< No c< Not yet e1perience
6<
6<
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< Weter Mo!i"e +an,ing is more con8enient ten Traditiona"
+an,ing>

60%
30%
10%
Yes
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.
7=
7=
4< According to yo*0 /ic category o# comm*nity are re"ay on
M=+an,ing>

60%
10%
20%
10%
Bussinessmen
Common
Professional
Other
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/ :
71
71
2< Wit /ic #aci"ities o# !an,ing yo* are most satis#ied>
10%
40% 40%
10%
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 te #aci"ities pro8ided in Mo!i"e +an,ing>
73
73

0
10
20
30
40
#0
60
$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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76
9< Wic #eat*re o# Mo!i"e +an,ing yo* "i,e more>

30%
40%
1#%
1#%
(lexi!ilit'
Time sa)in*
+ura!ilit'
,ccessa!ilit'
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.
77
77
5< Do yo* #ee" Mo!i"e +an,ing is Cost"ier ten oter 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.
78
78

F< Weter yo* are #acing any pro!"ems0 /i"e *sing M=+an,ing
Systems>

0
10
20
30
40
#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.
79
79
G< Wo*"d yo* "i,e to gi8e any s*ggestions to pre8ent pro!"ems o#
M=+an,ing>
60%
3#%
#% #%
Yes
No
Can%t sa'
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.
7:
7:
+i!"iograpy
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!"ograpy
1.www.google.com
7;
7;
7<
7<
8=
8=
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81
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