Mobile Banking

Mobile banking involves personal or organizational customer use of Internet-connected devices (e.g., smartphones, tablet computers, personal computers) to perform banking services, access banking information, schedule payments, and make deposits. While mobile banking itself is relatively new, it is associated with other forms of banking that date back to the 1990s, when financial institutions began to set up secure websites to provide a limited set of banking services. Before this, banking involved face-to-face transaction for most consumers. Branch banking, drive-through banking, and then automated teller machines (ATMs) became popular with consumers and businesses, with banking very much tied to physical locations. With advances in technology, mobile banking, also called Internet banking, online banking, and e-banking, became standard features for banks in many countries because it allowed ...