Mobile banking is becoming a viable option for many banks. This 22 page paper looks at the potential of mobile banking and considers whether it is a strategy that should be adopted. The paper starts with an introduction, aims and objectives and gives a methodology based on a literature review. The literature defines mobile banking, considers the role of banks and looks at how mobile banking fits in with the traditional role of banks. The paper also discusses the advantages and disadvantages of mobile banking from the perspective of customer and the bank before reaching a conclusion. The bibliography cites 18 sources.
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a cellular (or mobile) telephone or PDA. The model of mobile banking first emerged in 2000, but with a lack of technological support it did not take. With an increased
level of technological ability for mobile devices and increasing levels of competition between banks mobile banking is becoming more viable. For a
bank to remain competitive it needs to be able to attract funds from depositors and persistent borrowers. With an increasing number of banks looking at offering mobile banking, and some
banks, such as the Bank of America, already actively providing the service, it appears that the model of mobile banking is paralleling that of Internet banking. Many of the benefits
and costs are the same. Mobile banking offers the potential for effective operations by reducing labor costs. Marginal cost of providing mobile banking may be relatively low where a bank
already offers Internet banking and chooses to offer banking through a browser platform. However, small banks can also benefit through a number of third-party providers that are facilitating mobile banking
through an SMS platform. Looking at the evidence it appears highly likely that mobile banking will become an important channel in the future
and that banks should consider taking up a mobile banking strategy if they do not want to face a future where they have a disadvantage.
Table of Contents 1. Introduction 4 1.1 Aims and Objectives 5 1.2 Context and Constraints 6 1.3 Methodology 7 2. Literature Review 9 2.1 Background 9 2.2 The Role of Banks 10 2.3 The Way Banks Compete 14 2.4 Mobile Banking 16
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