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Banking Technology In Mobile Banking

1882 Words8 Pages

Technology is now moving to a notch higher per day. To take full advantage of such technological advancements, it is important to be in-sync with this change all the times. E-Wallets, e-commerce, and even all the Indian banks are now offering various services through mobile now.

What is Mobile Banking?
Mobile banking term refers to the use of mobile phone or any other cellular device for financial transactions. With mobile banking, you can pay your credit card bills and transfer money from your account to others. In present scenario, mobile banking is a need.

How is Mobile Banking Different from Internet Banking?
Banking technology is emerging rapidly. Every bank is making efforts to offer its customers what is essential and required for …show more content…

Both banking methods are good, but mobile banking is little ahead than the online banking as you do not require having a laptop or computer system with you all the time. With your mobile phone, you can also perform key banking tasks.

Features of Mobile Banking
Indian banks provide several great features in their mobile banking. You can avail the mobile banking services of State Bank of India through their SBI Freedom Mobile Banking App. Most of the mobile banking apps have similar features. Here are the key features that you can avail through SBI mobile banking.

• Money Transfer: By using the mobile banking of SBI, you can transfer money to any other bank account. National Electronic Fund Transfer (NEFT) and Real-Time Gross Settlements (RTGS) can be done via mobile banking app of SBI.

• Balance Enquiry and Mini Statement: Users can check their balance at anytime with their mobile banking app. Also, viewing and talking out the print out of mini statement of last 5 transactions can be done through mobile banking.

• Cheque Book: This feature makes mobile banking a boon for many. A few years back, an account holder required to pay a physical visit to his local branch for cheque …show more content…

The Reserve Bank of India has already notified the banks to promote mobile banking as much as they for paperless transactions. So, there are strong chances that more and more people will start using mobile banking in coming days.

Say goodbye to waiting time for transferring money from your account to another one. Now, things have become pretty easier as you can transfer money and pay your bills through mobile banking. State Bank Freedom app offers the following benefits to its users.

• You can access and manage your account without visiting your home branch.
• You can do payments, transfer the funds and make all types of transaction easily.
• SBI Freedom app is user-friendly and extremely easy to operate.
• With SBI Freedom app you can see all your transactions without any hassle.
• This facility is available for all SBI account holders.
• State Bank Freedom app offers a number of great services.
• It is safe and secure to use.
• Mobile banking saves a lot of your precious time. Ways to Activate Mobile Banking
Activating your mobile banking feature with SBI is extremely easy. Here are the steps that you can follow to activate this powerful

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