Mobile banking, though perceived by many people as a very insecure platform to transact one’s money, it is safer in reality than internet banking. This kind of banking it is very hard for it to be attacked by any form of malware or even cracked as banks use strong passwords to protect its database more so, even if one looses their phone one has no cause to raise the alarm as one can disable their accounts remotely using another phone without necessarily going physically to the bank.


EASE OF ACCESSusing laptop and phone

Mobile banking though in its infancy stage, it has shown quite a commendable improvement regarding technological wise as it is much easier for one to view the movement of their funds from the comfort of their house without worry as everything is running smoothly and upon request, you receive all the transaction history via your phone. In addition to this mobile banking has gone an extra step in virtual wallets where one can see how money is being also spent through mobile banking, a saving engine has been developed where one is in a position to save money automatically.


Banks has made it possible for one to access their account via mobile browsing downloadable applications and also text messages.Downloadable applications though not as dominant as mobile browsing, their usage is on the rise as they consolidate almost all the services the bank offers in one application and most at times they are not involved with extra charges, unlike mobile browsing where one has to pay data usage. Texting on the other hand though less efficient compared to the other two it is much easier to access your account through alerts when any transaction is made this helps the account holder be always on the move and in the know on what is happening in his account though texting attracts courier charges at times.
Apart from using mobile directly in banking, they can also be used as bank locators using GPS systems where one just feeds in the details of the bank they are looking for, and they get directed to it, or it’s ATMs.


Mobile banking relies heavily on cloud computing. This has helped banks to become more efficient regarding services they are selling to the public such as loan processing credit card processing as banks are deploying cloud-based solutions to drive efficiency.