Mobile Banking In Asia Pacific

reogma|Mobile Banking In Asia Pacific

There are a lot of obstacles to overcome but the benefits for those that can act quickly and open-mindedly will be massive, and that’s exactly why Artificial Intelligence/Machine learning blockchain technology, biometrics and other trends mentioned above will play a crucial role in the future.

  • Definition / Scope
  • Market Overview
  • Market Risks
  • Top Market Opportunities
  • Market Trends
  • Industry Challenges
  • Technology Trends
  • Pricing Trends
  • Regulatory Trends
  • Other Key Market Trends
  • Market Size and Forecast
  • Market Outlook
  • Technology Roadmap
  • Distribution Chain Analysis
  • Competitive Landscape
  • Competitive Factors
  • Key Market Players
  • Strategic Conclusion
  • References
  • Appendix

Definition / Scope

Mobile banking refers to the use of a smartphone or other cellular device to perform online/offline banking tasks, such as monitoring account balances, transferring funds between accounts, bill payment and locating an ATM.

Mobile banking was nothing but a SMS banking service. Until 1999, banks offered mobile banking through SMS. Recent advent of smartphones has changed the whole scenario and now mobile banking is a web-based service provided through mobile web. Mobile banking must not be confused with other features such as mobile wallet that allow transactions through mobiles at the point of sale.

Unlike the related internet banking it uses software, usually called an app, provided by the financial institution for the purpose. Mobile banking is usually available on a 24-hour basis. Some financial institutions have restrictions on which accounts may be accessed through mobile banking, as well as a limit on the amount that can be transacted. Mobile banking is dependent on the availability of an internet or data connection to the mobile device.

Transactions through mobile banking depend on the features of the mobile banking app provided and typically includes obtaining account balances and lists of latest transactions, electronic bill payments, remote check deposits, P2P payments, and funds transfers between a customer's or another's accounts. Some apps also enable copies of statements to be downloaded and sometimes printed at the customer's premises.

There are multiple channel through which we can perform a mobile banking.

  • Mobile Text (SMS)
  • Mobile Web
  • Mobile Application
  • QR Code

Some banks are taking the technology one step further with account rewards confirmation, person-to-person payments (P2P) and, more importantly, remote deposit capture (RDC) capability.

Simply put, RDC is a service allow users to scan checks and transmit the scanned images to a bank for posting and clearing. In the case of mobile banking, a customer takes pictures of both sides of a check and forwards the photos to the bank, which then deposits the funds in the same way as if the deposit was made through a teller. RDC capability means customers have faster access to their money, while automating yet another deposit feature.

reogma|Mobile Banking In Asia Pacific


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There are a lot of obstacles to overcome but the benefits for those that can act quickly and open-mindedly will be massive, and that’s exactly why Artificial Intelligence/Machine learning blockchain technology, biometrics and other trends mentioned above will play a crucial role in the future. Definition / Scope Market Overview […]
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