Mobile Banking and Customer Satisfaction

Management and banking law

Information technology is considered as the prime driver for the changes taking place around the globe. Mobile banking is the latest and most innovative service offered and given by the banks. In order to achieve the objectives of business, several channel of communications to customers have to be evolved through technology. Technology is the primary key to move towards providing integrated banking facilities to consumers. Indian banks have been late starter in the acquisition of technology for automation of procedures and the un-segregated banking facilities. Mobile banking is an application of mobile accessing which offers the customers with the support required to be able to bank anywhere, anytime using a mobile handheld gadget and a mobile facility such as Short Message Service (SMS). Mobile Banking refers to requirements of banking and financial facilities with the use of mobile telecommunication devices. In the present scenario of banking, total automation of banking functioning and is an imperative for all banks to magnetize more customers, provide efficient services and survive the competition, apart from achieving the profit, which is the major aim of the business. Mobile banking is one of the alternatives passage accessible to customer for quick and effective service at anytime and anywhere. Banks can also use enable banking for increasing the efficiency of their employees and create a platform for better customer service and improve relationship with their customers. This paper mainly deals about the consumer’s perspective on mobile banking and its advantages and disadvantages. It also prioritizes to draw attention on the future prospects of Mobile Banking.

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