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Mobile Banking


mobile banking


Mobile  banking can be a program given by any lender or perhaps some other standard bank that enables the consumers to be able to perform a selection of economic purchases remotely employing a mobile system for instance a mobile phone or tablet, and also making use of computer software, typically referred to as a app , given by the bank with the aim. mobile banking is normally available on any 24-hour schedule. Several finance institutions have got constraints where balances could be seen by means of mobile  banking, and a reduce around the sum which can be transacted.

Details of Mobile Banking.

Mobile banking are very easy , smooth and 100% online service . As mobile are essential for all classes of people ,so mobile banking future will be same  like as  number of mobile users . Mobile banking are being essential financial  service in many countries like Kenya, Tanzania,Pakistan, Nigeria etc. It is actively playing greatest financial providers of those nations. It's 24 hours financial service for customers.  In Bangladesh there are some mobile financial service such as -Rocket ( Dutch-Bangla bank ltd) , bcash(brac bank ltd) ,Sure cash, M-pay etc . Among them Rocket and bcash are most popular and leading mobile financial services .
Daily transaction of mobile banking are  reached in high volume  . Few days ago  it  was seen a statistic of Bangladesh Bank that daily transaction by Mobile Banking are 675 crore  taka . Which most of the transaction performed by bcash and Rocket . Mobile Bank have crossing the all record of transaction in Bangladesh . Transaction are performed mostly at agent points.  Almost 97% market share of mobile financial sector are preserved by bcash and Rocket . Actually Mobile money transfer first started in Bangladesh by Post office in 2010.

Requirement of mobile account :

1.Eighteen years of age
2.Photocopy associated with legitimate identification
3.  Photograph one copy

Services provides by mobile banking :

 * Send money (p2p)
* Top up ( mobile recharge )
* Cash in
*Cash out
* Bill pay
* Merchant pay
*Statement
*Balance inquire
* Remittance
* ATM withdrawn
* Bill pay ( utility bill, admission fee,tuition fee etc.
* Collection ( company's daily sells collection )
* Salary disbursement.



Execution process :
Mobile banking are  operated   by registered  agents  ( outlets ) in all over the country   . Outlets are serve money among the customers by scheduled fees or charges . Charge are deducted by the system automatically . Outlets are directed by distributions . In every districts remain one or more distributions houses . Distribution are provided money among the outlets by their DSR ( direct sales representatives). They are worked by target base . The target of DSR  are  1.  create new outlets according to market demand  2. make visibility of the outlets / agents , 3. New Customers acquisition and 4. Enhancing market share

Customer services :
Bank branches
ATM Booth
Fast Track
Agent points ( outlets )
Transaction ;
Mobile banking are now rising banking service all over the world . In developing countries its growth are high . Daily transaction of this banking in Bangladesh are 7 billion taka ( bangladeshi money ) . This transaction are increasing everyday . Money transaction are also high in African countries .

Usefulness of this service
There are  multiple side of usefulness of mobile banking . These are -
  1.  Meet customer demand
  2. Online services
  3.  Digital culture
  4. Create employment for the people .
  5. Positive change of the economy

 News of Mobile Banking :

In Bangladesh, there are 844 crore transactions per day through mobile banking

 মোবাইল ব‌্যাংকিংয়ে লেনদেন সীমা কমল
মোবাইল ব্যাংকিংয়ের খরচ কমাতে চেষ্টা হচ্ছে

 To understand why financial inclusion is important? For this we need to go beyond of this service. Earlier people working in different city or place especially in Dhaka city they sent their earning to their family by broker or another difficult ways.That was very expensive, timely and sometimes uncertainty. But mobile money have change the acute scenario of the people. The system of mobile financial services has transformed life of micro workers of Bangladesh. People are deposited their earning in own mobile account, they send money independently,they can saving money for their future need. It is a tremendous Banking system .


 Article Source: http://EzineArticles.com/expert/Kazi_M.D_Zahangir_Alam/2284283

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