Mobile Application for Banking Industry

Topics: Bank, Mobile phone, Personal digital assistant Pages: 2 (430 words) Published: May 21, 2013
Mobile application for the development of the banking sector Mobile application development caters to a diverse customer base. As its utilization is being discovered for different purposes an increased activity is also witnessed for this field. Mobile industry made a humble beginning with this application that provides basic functions. As today the complex transactions are being made through mobile applications, this is a paving way of new culture of mobile banking. With the integration of internet in mobiles, many possibilities and areas of growth are opened up, as a speed and pace of mobile technology we have an application for very category. Mobile application is replacing with old conventional method of transactions with the new more advanced and practical methods. People are finding new advanced and easy functioned based applications which are more convenient to use. Online banking is one such a category that is finding fast way in mobile devices. The application available for mobile banking is quite sophisticated. While some offers the same features as available for the online banking, other applications are aiming to provide increased functionality. Bank of America was first to use the mobile application for the banking sector. Offer use to pay bills transfer funds via iphone applications. The analysis made by the recent study reports that more than the 40 percent transactions made by using the smart phone applications in Japan, US and other developed countries. Common wealth bank adopting the latest technology reveals that mostly people are relying on their smart devices to access their accounts to make payments and pay bills. This estimate reveals that 14% of the log- ins to the internet banking are made via mobile phones. Going by the growing numbers and the technological advancement evedent, common wealth bank is also using set of different mobile applications for retail banking home loans. Pakistan there is two major key players in mobile...
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