In recent years, banking has drastically changed. Initially you had to visit a banking hall to access services such as balance enquiry, statement, account opening, cash deposit, cash withdrawal, cheque book/ATM card request among many others. This is no longer the case. You can now access all these features on your mobile phone.
Here are some tips on how this is achieved
- USSD: these can be accessed on any GSM phones. An organization can provide interactive menus that direct a user on how to access the services. This can be used by financial institutions and organizations that want to automate customer care.
- SMS: feedback is important in automation. For example, when a user makes a payment, they need to be informed that their payment is received successfully and even updated on balance. Financial organizations can also send reminders for loans. Other organization can also send out automated alerts in line with their operations
- Mobile apps: with improvement in technology, organizations can have apps that provide all the services a client needs on their phone.
- Mobile payment: you can automate payments both Business to Customer (B2C) and Customer to Business (C2B) by integrating mobile payment gateways such as Mpesa, Bank APIs, Paypal etc
Advantages of Mobile Banking
- Saves on time that could have otherwise been wasted while visiting a banking hall
- Saves on costs such as travel costs to access a service for the client and also saves the organization printing costs
- Reduces overheads: an organization is able to serve a large number of people with minimal resources
- Enhances safety: you no longer need to carry cash around. This has enhanced safety since thugs have previously targeted people carying cash and robbed or even harmed them.
Would you like to know how you can get started with mobile banking? Visit www.mobilesasa.com