Mobile Banking in India-Your Money in Your Pocket

Suresh Chandra Bihari*
*Professor (Banking & Finance), IBS Hyderabad, (A Constituent of IFHE-Deemed University) India.
Periodicity:December - February'2015
DOI : https://doi.org/10.26634/jmgt.9.3.3115

Abstract

Mobile banking is a system that allows customers of a financial institution to conduct a number of financial transactions through a mobile device such as a mobile phone. If technological revolution is at its peak, one of the notable sectors of the economy where technology is at it helm of affairs with respect to customer service is BANKING. Over the years, banking has transcended from a traditional brick-and mortar model of customers queuing for services in the banks to modern day banking where banks can be reached at any point for their services. In today's business, technology has been the predominant indicators of growth and competitiveness. The banking industry today is in its revolution. Information technology has basically been used under two different avenues in banking. One is communication and connectivity and other is business process. Today, banks have welcomed wireless and mobile technology into their boardroom to offer their customers the freedom to pay bills, planning payments while stuck in traffic jams, to receive updates on the various marketing efforts while present at a party to provide more personal and intimate relationships.

Keywords

Technological Revolution, Customer Service, Banking Industry, Mobile Banking.

How to Cite this Article?

Bihari, S. C. (2015). Mobile Banking in India-Your Money in Your Pocket. i-manager’s Journal on Management, 9(3), 1-11. https://doi.org/10.26634/jmgt.9.3.3115

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