Mobile Banking

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 or personal digital assistant.Mobile banking differs from mobile payments, which involve the use of a mobile device to pay for goods or services either at the point of sale or remotely, analogously to the use of a debit or credit card to effect an EFTPOS payment.The earliest mobile banking services were offered over SMS, a service known as SMS banking.
Posts about Mobile Banking
  • How TD uses voice to bring a retail experience to digital banking

    … The more sophisticated online and mobile experiences become, the more difficult is for people to prove their true identity — especially when it matters. It’s a problem for both banks and their customers. Not only does it put a dent in the customer experience, it presents fraud and privacy risks for both parties. That’s why TD Bank…

    Digidayin How To's- 17 readers -
  • Bank bots, move over: BNP Paribas is putting human advice before robots

    … but has not ruled out future plans to do so. Just as the mobile device truly disrupted the client experience in basic banking and gave customers “the mobile banking experience,” wealth management services should be following that path, said April Rudin, chief executive of wealth management marketing firm The Rudin Group. “This is mobile wealth…

    Digiday- 18 readers -
  • Why ‘challenger banks’ haven’t taken off in the U.S.

    … largely distrusting of startups when it comes to handing over all their deposits, and digital banks are waiting for that doubt to wear away, said banking and payments consultant Faisal Khan. Customers responded well to startups that give them convenience by connecting to their existing bank accounts, like Venmo for easy peer-to-peer payments or Moven…

    Digiday- 21 readers -
  • Why banking’s ‘omnichannel’ dreams haven’t become reality

    … strategy, the ones that are nailing the “omnichannel” idea are now having to move along pretty quickly anyway as new technologies and, therefore, new experiences emerge, said Meriah Garrett, chief design officer at USAA. “Our members just expect us to be there wherever they are,” she said. “That’s not always in this pure mechanism of traditional…

    Digiday- 20 readers -
  • The Rise of Mobile Banking

    … I once made the mistake of visiting a bank to open a new credit card. After a lengthy wait, the banker began by asking about my plans for the weekend and favorite sports teams. The small talk, while pleasant, wasn’t bringing me any closer to that credit card. I wondered if there was an app I could have used instead. Turns out, I’m far from…

    The Content Strategist- 23 readers -