Mobile banking –an analysis

The advent of the Internet has enabled new ways to conduct banking business, resulting in the creation of new institutions, such as online banks, online brokers and wealth managers. Such institutions still account for a tiny percentage of the industry. Over the last few years, the mobile and wireless market has been one of the fastest growing markets in the world and it is still growing at a rapid pace Mobile banking today is most often performed via sms or the mobile internet but can also use special programs called clients downloaded to the mobile device. It can also be understood as availing banking and financial services with the help of mobile telecommunications devices. The services offered by mobile banking included getting account information, transferring funds, sending checkbook request, managing deposits, checking transactions and so on.