Internet and Mobile Banking – The Game Changer

Are you tired of waiting in long queues?  Now, do instant banking on the move!

Technology has penetrated every sphere and banking domain is no more an exception. Boom in mobile gadgets has paved the way for advancement in banking industry. Whether it is a public or private sector bank, no bank wants to be left behind in this technological race. There is stiff competition among banks to utilize the best technology and provide their customers with enriched and enhanced experience.  In order to provide a unique experience banks are going digital.

Banking process has become easier, convenient and digitized. Whether it is a cheque leaf request, money withdrawal, fixed deposit, everything is done online and on the move.  This is unlike years ago, when things were done manually; chances of mistakes were more and used to a take long time. Banks also leverage the technology to deliver service excellence, to know customers better and serve them in a personalized way.

There is a constant increase in the amount of users who are utilizing cellphones for banking.  By 2015, worldwide mobile payments are forecast to reach US$945 billion, mobile money transfers to reach US$114 billion and the number of people making them to reach nearly 895 million. Mobile banking is not a new phenomenon but has rapidly improved and has shown steep growth in terms of technology used and solutions offered.  In upcoming years we will see more advancement in the mobile sector, where people will be able to perform any transaction from their mobile wallet. There will soon be a world of paperless banking, where everything will be done electronically.

By Sheetal Sharma

Sheetal is Assistant Manager-Marketing at CustomerXPs.  She can be reached at

CustomerXPs offers real-time, intelligent products that empower banks with instant insights enabling influenced outcomes of deeper customer engagement and fraud-free transactions.

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