Mobile Banking

Mobile Financial Services that are offered as a part of Mobile Commerce can be divided into two Categories: Mobile Payment and Mobile Banking.

Mobile Banking refers to "provision and availment of banking and financial services with the help of mobile

Telecommunication devices. The scope of offered services may include facilities to conduct bank and stock market transactions, to administer accounts and to access customized information

Mobile Banking (M-Banking) consists of three inter-related applications:

Mobile Accounting
Mobile Brokerage
Mobile Financial Information Services

Most services in Accounting and Brokerage are transaction based. However the non-transaction based services of informational nature are very important to conduct deal. For example, balance enquiries might be needed before entrusting a money transmittal.

The accounting and brokerage services are therefore offered invariably in combination with information services. Information services, on the other hand, may be offered as an independent module.