Technology has a major impact in helping Banking sectors. Mobile banking helps to give Customer’s anytime access to their banks. Customer’s could check out their account details, get their bank statement,perform transaction like transferring money to another accounts and pay their bills Sitting in the comforts of their homes and offices.
Needs and scope of Mobile banking in India Mobile banking is a benefit both for the bank and the user. The main benefits of mobile banking to the bank is that it is cost savings, it allow the bank to reach new customers, it raises the reputation of the bank and provide better service and satisfaction to customer. Definition of Banking: A bank is a financial firm which offers loan and deposits product on the market. It’s a financial institution where people can put their excess of money and it also provides lending facilities to consumer to enable them to buy home and to businesses to help them to grow. It is the heart of an economy in a country. Without bank nothing works. Banking business needs money to pay their cost and therefore to obtain this money the bank charged high interest rate on their loan. Banks come with a variety of name, and one bank can function as several different types of banks. Some of the most common types of banks are:
In USA the central bank is the Federal Reserve. In US, central bank has three primary goals to conduct monetary policy, to supervise and regulate financial firms and to provide financial service. Central bank deals with large organization instead of consumer. Mobile banking is a services provided by a bank or other financial institution that allows its customers to conduct financial transaction remotely using a Mobile device such as smart phone or tablet. Mobile banking is usually available on a 24-hours basis. From the banks point of view, Mobile banking reduces the cost of handling transaction by reducing the need for customers to visit a branch for non-cash withdrawal and deposit transaction. Mobile banking differs from mobile payments, which involves the use of mobile device to pay for goods or services either at the point of sale or remotely.
According to this model Mobile banking can be said to consist of three inter-related concepts:
Most of the services in the categories designated Accounting and Brokerage transaction based. The Non-transaction based services of an information nature are however essential for conducting transaction. The Accounting and Brokerage services are therefore offered invariability in combination with information services. Information services on the other hand may be offered as an independent module.
Mobile banking is a channel through which customers can interact with bank through devices such as mobile and PDA. Mobile banking helps the customers to access their bank anytime. Through mobile banking application customers can check their account details transfer money transaction and can pay their bills while sitting at home and offices. Mobile banks can provide location based services as compared to banksFrom the last ten years technology has been evolving itself by replacement of other technologies coming through as the day pass. This technology growth has a major impact on banking industry. As mobile banking is easier, effective and efficient. It helps to interact and attract more customerMobile banking is time saving process. Utility payments can be done by M-payment. So customers do not need to get in line and wait for his/her turn. India is one of the fastest growing countries in terms of mobile users. It is not only a medium use of voice communication but also widely used for mobile services. The M-banking is rapidly growing services with its multitude features variably offered with mobile apps and Internet banking. Mobile based services or M-services are referred as electronic services which are delivered to the customers via mobile technologies by using mobile devices. M-services is a limited concept of E-services which is able to provide technical services anywhere at any time. Due to this reason this concept is becoming more popular among people. M-banking ensures customers in clearing and settlements of transactions through nationwide and enables real fund transfer in any bank account and operated by users using mobile banking services. Based on the online survey, its found that most of the respondents are using online banking facilities from their respective banks. Moreover 25% of customers are using mobile banking services and remaining 75% are not. India is a country where different languages are used in different parts. The mobile banking facilitates to access banking services to the rural community. This must requires customer friendly banking software that can be used in their local languages.
This present study is about the analytical and explanatory nature. However, this explanatory study is made use of primary data. this primary data is collected and gathered by practical and technical process. The key intention of this study is to evaluate and theoretically Study about Mobile banking.
PRIMARY DATA: This is the first hand information collected through in hand references. Some Self provided details by
This shall be collected by using variety of resources. These resources are.
SAMPLING METHOD: The population includes male and female customers residing Kamaraj Nagar. In this project convenience sampling method is followed. SAMPLE SIZE: Sample size was 150, who fulfil the basic criteria.
DATA COLLECTION: Self administered Personal survey method was used to collect the necessary data. For this purpose appropriate questions were used to collect data.
STRUCTURE OF QUESTIONNAIRE: The questions formulated were structured and non-disguised. The questions were asked in order to get all the necessary information and to see that the respondents could answer them with case. This pattern adopted facilitated in analyzing the data.
Types Of Questions Asked:
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