Technology In Mobile Banking

Executive Summary

Focuses on business firms identifying the industries in which the Internet is being used for businesses for example Mobile Banking identify the banking industry. The use of Mobile Banking is a new phenomenon, therefore some banks are not early adopters, and they wait to see the progress of other banks in term of risk, use, perception and problems encountered. Mobile Banking has generated new streams of innovations in processes and services leading the traditional banking environment to shift into electronic environment. Banks based on Internet managed to meet their challenges successfully by supplying vast amount of services across the globe.

1. Introduction

The business environment has been changed dramatically in the

The Internet opened many doors of challenges to the banking sectors to deliver the best services and quality to their customers. The main challenge today, is how to utilise this technology to create an innovative way of processing the information and servicing the customer over the Internet. Using recent empirical evidence and cases studies, this papers illustrates, how some leading banks have managed to enhance their internal and external processes, by innovating and exploiting the capability of Internet 2.

There are lots of advantages from implementing a web-based strategy (Internet), thus we will concentrate from the perspective of processes and services. This kind of strategy changes the game’s rules and its focus on “pursuing a business strategy that is quit different from the traditional retail banking model” 3. Accordingly, this kind of strategy becomes a standard means of competing in what is essentially a traditional

Electronic trading represents the front-end services (i.e. retail branch). Accordingly, banks are replicating the branch experience on-line, even to the extent of creating a “3D virtual branch” 7 for their customers to navigate through. These services innovated specialisation in the degree of services, mobilise efficiency, productivity and reduce complexity and lower cost. Information systems takes over the branches responsibilities to provide “non-stop 24 hours on-line baking” 8 in order to enable the customers’ maximum flexibility. The beauty of this system is that customer can obtain the services at any time from anywhere around the world. For example, Bank of Scotland set up the statements “OPEN A BRANCH IN YOUR OWN LIVING ROOM” at the opening page, in order to give the customer more