INTRODUCTION
Background of the Study
In everyday lives, people are influencing by new invented technologies, which they used as one of their communicating tools. Banks are already been adopted and utilized in such as internet and mobile technologies. They used them as one of their financial services in order to cater the needs of their customer in an easy and accessible ways. A fact, that part of the growing economic condition of the country, technologies gives the big role in making banks more productive. Without technology system, they cannot operate some of their transactions as fast as possible.
Mobile Financial Services is developing by using mobile phone. It consist two commonly categories such as mobile banking services and mobile payment services. Through these two categories, bank’s customers easily connected with their designated accounts to check by using their mobile devices and of course to respond immediately the needs and wants of both parties. Mobile Financial services created and well invented in a sense of the fastest growth of the population. Mobile phone or a cellular phone considered one of the basic needs in people lives.
“According to Ang (2011) approximately 72 percent of the population or 2.5 billion of the adults is non-banked which means they have no access to financial services. In addition, closely 2.5 billion people in most countries have their mobile phones. Possibly, up to 2 billion mobile phone users are not fiscally involved and it can served through mobile financial services (MFS).
Gross et al.(2012) the ubiquity of mobile phones is changing the way consumer’s access financial services. In 21 percent of mobile phone owners have used mobile banking in the past 12 months, 11 percent of tho...
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... can be more productive and accurate to their customers.
Future Researchers – The mobile financial services study will also serve as source of information for supplementary research on other related studies.
Definition of Terms
For clarification of terms being use in the study, the conceptual and operational definitions hereunder provided.
Utilization – it is the application of the services or the product to support the needs of every mankind.
MFS- Mobile Financial Services - is one of the financial services in which most of the customers accessing the use of mobile devices were they can transact in different businesses in terms of GCASH, Smart Money and PayPal.
Accuracy- it determines the exact information of the services/product to the customer.
Timeliness-it is the accessibility in using the services/product that can easily transact anytime/anywhere.
By means of a market survey conducted it was found that a large share of mobile phone users
This paper studies endogenous diffusion and impact of a cost-saving technological innovation -- Internet Banking. The bank understudy i.e. ICBC has efficiently embarked on its internet based private banking service. The vice director of e-banking felt that the entire project was an accomplishment in terms of its schema and satisfactory quality. Here is this case he needs to expound the understandings and the lessons internalized along the entire course of the project. Moreover, there were various issues which were raised during this intellectual itinerary, which included the challenges regarding computer system implementation, Information system design and most importantly the feasibility analysis. This case deals with the fact that how he confronted the challenges and developed a plan which immensely benefited bank.
Thus we can see that the potential for mobile devices are promising in the emerging markets and they can be used effectively to improve the global economy.
... and features of mobile commerce. The Government should formulate a policy on the both level state and central in order to optimize the benefit of the it. Public Private Partnership would be very effective in this scheme. Banking sector should make credit facility easy and approachable through mobile phones. Various ICTs initiatives as Gyandoot, Kisan call center, etc. should be promoted at large scale to improve the adoptability new technology by farmers. Timely and actionable information from relied sources, locally applicable, storable and reference able and access of experts may enhance the effectiveness of mobile services. Video calling and confessing facility may further enhance the quality of communication. M-commerce can a phenomenal achievement in Indian agriculture if it would be developed and structured according to the need and capability of farmers .
Business today is inextricably intertwined with technology, from the smallest home office, to a multinational corporation with multiple monolithic legacy application. It is impossible to be in business today without confronting the issues of technology. The way we do business today is different than 30 years ago. Technology has evolved around the areas of telecommunication, travel, stock market, shipping even around our daily lives. E-commerce a system by which people can buy, sell and deal without even seeing the person on the other side has taken a front seat in improving the economy of countries around the world. Technology today has made it possible for monetary institutions to help locate the customers resources and help solve their problems at any given time through online banking. The Internet, a boon to all business, is playing a part of a catalyst; it links millions of customers to its suppliers and vice versa due to this, manufactures are able to cut the role of middlemen and are able to deal with the customers, giving them the ability for direct input from the customers about their choices and views of their product. The busi...
“Mobile Technology Fact Sheet” Pew Research Internet Project, Pew Research Center, n.d. Web 1 May 2014
users to send money, using computers. The same can be done by means of mobile phones that are support Web.
Mobile banking is a way for clients to perform balance checks, account transactions, payments, etc. using a mobile phone. Mobile phones provide a new and rapidly developing technological alternative delivery channels to extend financial services to those excluded from formal financial systems. Mobile phones allow clients to call into an automated system to conduct business transactions, and to access and request information.
For instance, the seemingly innocuous mobile phone is actually playing an increasing role in facilitating monetary transactions, especially in Asia. Already, in Japan, large companies such as Coca-Cola have sanctioned vending machines that are not only compatible with common cell phones but also allow consumers to earn credits for using them (Kupetz). In this regard, the United States is strikingly behind the times when compared to other countries. Another new technology in the vein of mobile phones is no-contact cards. These innovative cards do not require a cashier to conduct a transaction; one simply holds a specia... ...
Communication modern technological tools that have been enhanced by Information Technology are having an impact on changing the very structure and communication of banking. That is, clients are enabled to make their banking transactions whenever and wherever they want. Bank clients, by just logging on their online account, can transfer any amount of money from their account to any other account, check their last processed banking transactions and apply for loans and other banking services. According to Keyes ( 2000, p.591) 'electronic checks provide consumers with the benefits of convenience and safety while allowing billers to maintain their existing depository relationships with their banks'. Further, e-mails has enabled bank employees to notify their customers of any new enhanced bankin...
Mobile phones have been in our lives for a little over thirty years now, in that time they have changed our society drastically. When mobile phone technology was being developed, “The world’s first mobile phone call was made on April 3rd, 1973, when Martin Cooper, a senior engineer at Motorola, called a rival telecommunications company and informed them he was speaking via a mobile phone.” (Goodwin) Ten years later mobile phones went on sale to the public for around 4000 dollars. With a high price these phones had a target consumer of businessmen due to their busy lifestyle and always being on the move away from the office. The first Mobile phones were very different from the phones we have today, they were much larger in size and weighed
E-Commerce is a type of industry where the buying and selling of products or services is conducted over electronic systems such as the Internet and other computer networks. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. It also includes ‘M-commerce’ which makes use of various mobile devices or smart phones. It means "the delivery of e-commerce capabilities directly into the consumer’s hand, anywhere, via wireless technology.” The various services available on M-Commerce are Mobile Money Transfer, Mobile ATM, Mobile ticketing, Mobile vouchers, coupons and loyalty cards, News, Stock Quotes, shopping apps, Mobile brokerage etc. Launching of Google Wallet Mobile App is one of the recent developments.
The study is primarily designed to find out the continuous issue of the banking system in
Banks sector is playing an important role in economies. The banking industry, as the classic and the most influential of financial intermediaries, facilitates economic operations. Financial sector in the worldwide country has been changes over these years by looking the changes of financial structure environment and economic conditions. Thus, banks are a very important point to financial system and play an important role as control and contribute growth to the economic sector.
Mary Lou Hurler in her article shows that about 37 millions of Americans use online banking services. With this “new” technology people are able to access to their money 24/7 and no need to wait to see a teller. With online banking customers are able to pay their bills: even when they are traveling: without receiving late payment fees. It also allows people to send money when and where they need without writing personal check and using postal stamp. Technology such as an online banking changed people daily lives. It gave people opportunity to deposit their checks right from their home without traveling to the bank and waiting in the lines. With this kind of service customer need to take the picture of the check and do direct deposit to the bank