Mobile Banking - financial services technology

The mobile and Internet market has been one of the fastest growing markets in the world and it is still growing at a rapid pace. This opens up new markets for financial institutions interested in offering value added services with reduction in cash usage and its associated costs. With mobile technology, banks can offer a wide range of services to their customers, transfer funds between accounts and will have immediate and full control over their finances or even performing stock trading while being in traffic. Mobile devices, due to their ability to provide services anytime and anywhere, have a high rate of penetration and potential to grow. This paper describes the basic concepts, services offered and technology which enables Mobile Banking.