Bank Of America - Mobile Banking

In 2009, 10 million customers used mobile banking and this is expected to grow to 37 million by 2014. Customers that use mobile banking are not the

12. Banks like USAA use provide web-based and mobile computing options for their customers. Web-based computing allows users to complete longer more detailed processes like applying for a credit card or a home loan. Mobile computing, however, allows users to connect with companies, mostly in a limited fashion, while on the go. USAA, for example, allows customers to transfer money, review their products through their mobile

As technology advances over the years, we have experienced and noticed that the trend in how payment are received have shift tremendously. Twenty years ago, check was the preferred way of payment. In today’s world, more and more payments are done by credit cards. Credit card transactions are instance that provides a faster payment method.

Internet banking has many benefits for consumers and these advantages also can explain why it is growing in popularity.

Some competitors are already offering the service to their clients, locking them in (lost customers for Alpen Bank)

The use of technology to keep up to date on the activity of bank accounts is an important step that I use myself. I use a phone application to keep updated on all activity that affects my

According to the most recent Federal Reserve study; most of us haven’t set foot in a banking hall in ages. It is a lost battle to banks that opt to use traditional methods to conduct their banking transactions (Gup 2003). By December of last year, close to half of all smartphone users in the United States had transacted some or all of their banking on their phones and iPhones. In the United Kingdom alone, rates of mobile banking transactions doubled over the course of a single year (Scn Education 2001). A banking business that invests in this type of technology gets assured of increasing their customer base.

The way people bank is going through explosive, explosive changes. In fact, it’s transformed more in the last decade than in the last century. The great news for millennials is that it’s easy to grasp and use the new technology.

- Customers can get online or use smartphone application to manage account, pay bills, etc. from anywhere in the world.

Mobile payment also referred to as mobile money, mobile money transfer or mobile wallet refers to payment services operated under financial regulation and performed from or via a mobile device. (www.wikipedia.org, 2016)

Banking-related transactions that typically take long span of processing can now be done in just a few minutes, or even seconds. Aside from this, there are still other brilliant benefits that the IT has contributed to the finance sector, which may bring not only advantages but also possible drawbacks.

Mobile phones are no longer a communication device, but can be used for several other purposes including executing business operations. After internet banking, it has added another dimension to banking by enabling any kind of banking transactions like payments, balance inquiry and transfer of funds, just by using your mobile phone. Banking transactions over the mobile phone are usually performed either by sending a SMS to the bank or by using mobile internet. When you send a SMS requesting a financial

I also am assuming that most internet users regularly check their banks policies on how to protect themselves.

In many developing countries it's common for a person to have a mobile phone but not a bank account. In fact, more than 1 billion people fit this description, and the number is only likely to increase. To that end, many companies are considering how to give residents access to banking services via their handsets. The GSM Association predicts that by 2012, nearly 300 million of the previously "unbanked" will be using some form of mobile banking.

For service providers, Mobile banking offers the next surest way to achieve growth. Countries like Korea where mobile penetration is nearing saturation, mobile banking is helping service providers increase revenues from the now static subscriber base. Also service providers are increasingly using the complexity of their supported mobile banking services to attract new customers and retain old ones.