Research Work on Existing Mobile Banking Products

My Professor used to think about me as A VERY GOOD BOY because I used to take books to the class when none attended his class. But he never knew the fact that in the book I used to have a photo of my girlfriend and the reason to attend the class was to have a chance to flirt with her.

I wouldn't blame my Dad for spoiling me by buying me a Mobile. With the arrival of a mobile, my attendance started to decline and thanks for the Providers who given attractive offers. Then my love started towards Mobile too where it went lot of sleepless nights of what it is doing and what it can be done. As I entered my career into Banking Sector Company added more brainstorms and clear picture of Mobile Banking Area.  

Even though my lovely things are filled into my Mobile, I am still having hard time with filling up my Pockets with Money Purse & Cards Pouch. Even some place it made already replacing Money Purse with only Card Pouch but I say that its not TOTALLY. Then the way of thinking went in finding the thing which replaces all into One or else even nothing should be.

Of course as of now I got an idea of replacing the Three Money purse, Cards Pouch & Mobile into One. That is Mobile itself. Let me tell clearly how it will be and What it all can do.

Already in the Market there are many Cellphone Banking Products and Money Transfer Services, where initially I thought no such exists in the market.

• M-PESA                     
• SharPay -

                    http://www.youtube.com/watch?v=wV7fd6ioG7M

• WIZZIT
• YUCASH
• ZAP

Hope you all got many doubts right from Security ,Speed etc., I too accept with you but to be say once more in Simple words NOTHING IS IMPOSSIBLE. Especially the Aggressive TEAM works..I tried best to take some info through Web and Personal Interaction with Leaders in the Market and framed a few roles and respective Queries...!!

CIO's Clarifications

What would be the RoI? What about confidentiality of data? These are obvious questions management would ask a CIO trying to implement mobile applications. Adopting any mobile application is an expense, with no assurance of direct returns. E.g., customers may use a bank's short code toll free but the bank has to pay the application providers and the operators.

Of course, returns are in the shape of better customer focus. If customers get better service they remains loyal and brings in more business. It becomes a great tool in acquiring new customers and retaining old ones.

In the B2B space it gives employees flexibility in business execution and makes the whole process efficient and reduces the turnaround time. Employees have everything on the mobile and don't have to rush to the office for data or consultations before closing deals. Such application gives obvious competitive advantages.

Overall, workforce and IT infrastructure is optimally utilized, which in the long run reflects in the company's balance sheet.