Mobile Banking

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CONTENT|
BRIEF HISTORY OF MOBILE BANKING|
INTRODUCTION OF MOBILE BANKING|
MOBILE BANKING CONCEPT|
PRIMARY MODELS FOR MOBILE PAYMENT |
MOBILE BANKING IN INDIA|
MOBILE BANKING TECHNOLOGY|
CHALLENGES FOR A MOBILE BANKING SOLUTION|
ROLE OF HANDSETS IN MOBILE BANKING|
FRAUDS & SAFETY MEASURES IN MOBILE BANKING|
RECESSION IS NOT AFFECTING MOBILE BANKING|
POSITIVENESS OF MOBILE BANKING |
PROCEDURE OF REGISTRATION|
Problems in m banking|
RBIS AND M BANKING SERVICES IN INDIA(GUIDELINES)|
CURRENT STATUS IN INDIA|
| |

MOBILE BANKING
BRIEF HISTORY
The first mobile banking and payment initiatives were announced during 1999 (the same year that Fundamo deployed their first prototype). The first major deployment was made by a company called Paybox (largely supported financially by Deutsche Bank). The company was founded by two young German’s Mathias Entemann and Eckart Ortwein and successfully deployed the solution in Germany, Austria, Sweden, Spain and the UK.

Israel produced a large number of mobile payment start-ups. innovation happens in unexpected places - mobile banking in kenya (0.5712795966325395 , 39.0234375)People have expectations that technological innovation is seen first in the developed markets; countries like Japan, Korea and the US are usually the first to showcase new break through in computer or mobile technologies but one of the first countries to adopt the technology is not one of those mentioned above, but Kenya, on the continent of Africa. The more time a customer spends transacting with a bank, the more loyal that customer is. In the hyper competitive banking industry, where companies are mercy less in their attempts to lure customers away from competitors, mobile banking feels a little like an arms race. INTRODUCTION

“The account that travels with you.” This is needed in today's fast business environment with unending deadlines for fulfillment and loads of appointments to meet and meetings to attend. With mobile banking facilities, one can bank from anywhere, at any time and in any condition or anyhow.

Mobile Banking is a fusion of mobile technology and financial services. Mobile Banking is the hottest area of development in the banking sector and is expected to replace the credit/debit card system in future. In past two years, mobile banking users have increased three times if we compare the use of either debit card or credit card. Moreover 85-90% mobile users do not own credit cards. Mobile banking uses the same infrastructure like the ATM solution. In countries like Korea, two SIM Card is used in mobile phones. One for the telephonic purpose and the other for banking. Bank account data is encrypted on a smart-card chip. About 3.3 million transactions were reported by Bank of Korea in 2004.

gA MOBILE BANKING CONCEPTUAL MODEL
In one academic model, Mobile banking is defined as:
"Mobile Banking refers to provision and availment of banking and financial services with the help of mobile telecommunication devices. The scope of offered services may include facilities to conduct bank and stock market transactions, to administer accounts and to access customized information." According to this model Mobile Banking can be said to consist of three inter-related concepts: * Mobile Accounting

* Mobile Brokerage
* Mobile Financial Information Services
Most services in the categories designated Accounting and Brokerage are transaction-based. The non-transaction-based services of an informational nature are however essential for conducting transactions for instance, balance enquiries might be needed before committing a money remittance. The accounting and brokerage services are therefore offered invariably in combination with information services. Information services, on the other hand, may be offered as an independent module.

MOBILE BANKING CONCEPT
The lifespan of all good ideas can be broken into five phases: concept,...
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