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Conference Issue | March 2019 Available Online: www.ijtsrd.com e-ISSN: 2456 - 6470
@ IJTSRD | Unique Paper ID - IJTSRD23053 | Conference Issue | FIIITIPM - 2019 | March 2019 Page: 21
International Journal of Trend in Scientific Research and Development (IJTSRD) @ www.ijtsrd.com eISSN: 2456-6470
1. Mobile Banking Service over Application/ Wireless banking customers conducted between February and April
Application Protocol (WAP): 2018 across 14 states and included both private and public
The service is available on java enabled /Android mobile banks customers are inevitable they were opted for mobile
phones (with or without GPRS) /i-phones where the user is banking services and partially satisfied this mobile banking
required to download the application on to the mobile facilities(Reserve Bank of India.).
handset. The service can also be availed via WAP on all
phones (java/non java) with GPRS connection. The following Objectives:
functionalities are available: The major objectives of the study are as follows:
A. Funds transfer (within and outside the bank) 1. To highlight the theoretical background and current
B. Immediate Payment Services (IMPS) scenario of mobile banking services in Indian context;
C. Enquiry services (Balance enquiry/ Mini statement) 2. To highlight the advantages and disadvantages of mobile
banking.
D. Cheque book request
E. Demat Enquiry Service Research Methodology
F. Bill Payment (Utility bills, credit cards, Insurance This research paper is based on Secondary data.
premium), Donations, Subscriptions
G. Mobile /DTH Top up Advantages of Mobile banking
Decreased infrastructure costs- Banks do not have to
H. M Commerce (Merchant payments, SBI life insurance
maintain many physical branches if more customer carry out
premium).
banking via their mobile phone. For the financial institution,
this means a reduction in overhead expenses.
2. Mobile Banking Service over SMS:
The service is available on all phones. The customer can send
Efficient utilization of experts and human capital-
keywords as SMS to 9223440000.Ths number gives all the
Financial institution can centralize their limited pool of
user menu of mobile banking services. Ordinary SMS charges
banking and financial experts and use these experts to
are applicable. The following functionalities are available:
service customers no matter where customers are located. It
A. Enquiry Services (Balance Enquiry/Mini Statement) is the maximum utilization of high cost human capital.
B. Prepaid Mobile / MobiCash wallet Top up
C. DTH Recharge Document sharing and assistance with other digital
banking services- mobile banking technology now enables
D. IMPS Fund transfer – (Mobile number & MMID and
mobile, document sharing and screen sharing of the
Account Number & IFS Code)
customer’s mobile device. This allows customers and bank
E. Change MPIN representative to conduct real-time, document review and
F. IMPS Merchant payments, real time personalized support with the financial institutions
mobile app.
Recent innovations in telecommunications have enabled the
launch of new access methods for banking services, one of Enhanced security over telephone banking - Mobile
these is mobile banking, whereby a customer interacts with phone now often include ace-recognition technology,
a bank via mobile phone. However, despite efforts banks to fingerprint scanners. This bio-metric data provides more
expand the market and usage of mobile channels, there are security and protection for customers than simple telephone
very few consumers who are actively using the same leading banking password. For both the financial institution and
to inefficiency on mobile banking. Some of the reasons customer, this means fewer instances of compromised data
contributing to this include the lack of adoption of mobile as and fraud.
a channel for banking despite the push, ineffective and
inaccessible services on mobile banking has led to Increased in accessibility to understand customer
limitations of services on mobile banking, non-replication of segments-Mobile banking allows those with difficulty in
mobile banking services in varied languages etc. accessing branch location the ability to enjoy banking
services. this includes people who live in rural locations , far
The Current Scenario of Mobile Banking In India from a physical branch.
The Few years back nobody knew about the mobile banking
wallets in India. Of late, despite of being a new concept, Disadvantages of Mobile Banking
mobile banking wallets have witnessed immense popularity. Inability to deal with cash- one is unable to make to make
At the moment, people are facing currency crunch in India cash withdrawals or a cash deposits with a mobile a phone.
and this is where the mobile banking wallets are reducing However, this disadvantage is mitigated by the fact that
the burden of the people. These M-banking wallets attract payment are shifting towards cashless, mobile based
the users by offering discounts and cash back points at payment transactions.
regular intervals. In India “Mobile Banking Study” despite
the impetus provided by demonetization, digital banking is When a mobile banking user receives a fake text message
not yet a pervasive experience in India. Most banking asking for bank account details from a hacker. There are also
relationships still begin and continue at the branch. very limited anti-virus software options for mobile devices.
However, there is great potential for banks to move more
into the digital space. Only 51 per cent of retail banking To make maximum benefit of mobile banking one should
customers have a reliable online and mobile banking have smart phone. Some banks have specific software for
experience with their main financial institution. These specific mobile such as iphone and blackberry people should
results was based on in-person interviews with 5,368 retail download different apps based on the smart phone.
@ IJTSRD | Unique Paper ID - IJTSRD23053 | Conference Issue | FIIITIPM - 2019 | March 2019 Page: 22
International Journal of Trend in Scientific Research and Development (IJTSRD) @ www.ijtsrd.com eISSN: 2456-6470
People are less careful with their mobile compared to laptop. mobile banking that influence customer satisfaction the
You must also update your anti-virus on the mobile if you most, as well as least. It has brought services closer to the
are a frequent user of mobile banking. Risks associated with people hence making it easy to transact without delays and
mobile banking. restrictions of time limits.
@ IJTSRD | Unique Paper ID - IJTSRD23053 | Conference Issue | FIIITIPM - 2019 | March 2019 Page: 23