Easiest Procedure For Verifying Account Related Details Of Citibank Essay

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

Understanding the usage of internet banking might be difficult for a beginner at the first go. Though there are some sites which offer a demo on how to access online accounts, but not all banks offer this facility. So, a person who is new, might face some difficulty.

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

The change and advancement in technology are a significant factor in the banking business. Technology has led to tremendous improvements in this industry. Since the commencement of this millennium, people have shown great love for their mobile phones (Ozaki 1992). It necessitated the invention of mobile applications (APPs). From the introduction of the mobile banking, APP people rarely go to the banks. All their transactions get done simply by the stroke of a finger. Businesses face a challenge of adapting to changes in the technology sector. Mobile banking either through actual investing or any other means is on the rise.

Other than keeping my schedule organized, my cell phone also allows me to access my bank account where ever I may be. My bank offers an application that lets me view my account, deposit checks, and transfer money, without having to go to the bank. This keeps my financial life in order as well as my academic and social life.

In 2017 customers no longer need to physically visit a branch unless they really want or need to. They now can conduct their everyday banking requirements 24/7, 365 days of the year via mobile banking apps and in most cases it is cheaper for them too, as banks are promoting their online options by reducing fees and charges when these channels are

Recently a growing form of communication for organisations. It is time efficient way of sending information to a large number of reciepntants. It is cost effective and more likely to reach the receipatnt as they are likely to check their mobile telephone several times throughout the day. Unfortanaley text messages can be open for interpretation of tone or mood. It can also be inappropriate for some organistation communication.

Text messaging has been growing in popularity since the very first text was sent in the year 1993 by a student who was working for the Nokia Corporation (Drouin and Davis 49).

Mass marketing relies on the principles of saturating a target demographic or random members of the public with advertising. However, business texting is an opt-in service. That is, consumers voluntarily provide their phone number and are free to opt-out at any time. Therefore, the target audience will be consumers who are already familiar with the product or service. As a result, you can reduce wasted marketing costs while accurately reaching your target market. Keep in mind that business texting will always rely on traditional advertising forms to establish and maintain and customer texting database.

Citibank developed two different strategies for each market segments, some of the strategies for MNCs are secure platforms to access services, local and global which can offer fast and worldwide capabilities. Also provide fraud and identity theft protection, showing the advantages of online real time banking

After decades of civil war and instability, Somaliland, a poor African nation had few banks. To overcome this problem, the country successfully cultivated mobile technology to carry out day to day transactions instead of cash. Even the street vendors in Somaliland accepts payments made through the mobile phone. On an average, a person does 34 transactions per month through their phone. 51 out of 100 people have mobile subscriptions and approximately 40% use the mobile money accounts.

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

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.

o Technology: In a technology driven world, it is important that banks in the industry ‘move with the time’. With respect to the big four, these banks have now introduced internet and cell phone banking as well as banking from the ATM; making the industry highly competitive. This technology aims to make banking for the client simple and accessible from anywhere. This new technology is aimed, once again, at the medium to high-income earning clients, who have access to these technologies.

Mobile banking is well utilized in countries of Europe and even Japan, yet it is slow to catch up in America. A study by Forrester Research found that only 10% of Americans like the idea of m banking while 35% already bank online