Eko India Financial Services Private Limited provides Eko, a technology solution for banks to offer mobile banking services in India. Its solution provides peer-to-peer money transfers, cash deposits and withdrawal, wage and salary payments, micro-insurance, and micro-credit functionalities to individuals by dialing numbers on a mobile handset at various customer service points, including kirana stores, grocer shops, petrol pumps, and PCOs. The company�s solution enables banks to provide banking facilities to urban, rural, and far flung areas, as well as to people who are unbanked section of the population. Eko India Financial Services Private Limited was founded in 2007 and is based in New Delhi, India
By
Harender Singh, Marketing Manager, Eko India Financial Services
| 04 14 2011 06:07:06 +0000
E banking its now best option for banking transaction. mobile banking its not trusable & lots of problem in transaction. so I refer that E Banking.
By
yogesh soni, Corporate Finance Executive
| 01 18 2011 08:22:41 +0000
I strongly endorse the topic that M-banking is more popular than E-banking. Because, India more celluar connection than net connection. We are the fastest growing country in world, with cheapest call rates in case of mobile connection. So, this makes the statement strong, as a banker, I find customer opting more for mobile banking rather than E-banking
By
Apurva Phanshikar, Junior Officer, TASC,ICICI Bank
| 08 19 2010 12:01:36 +0000
Mobile is yet another "Mother of all Inventions".Mobile applications best suit the developing nations. Mobile banking is be a super box hit provided the safety features are enforced.
By
deepan , Sr.Research Analyst, Beroe
| 08 17 2010 09:20:00 +0000
Yes Anita, i am agree with you. Today people are crazy to taking social media. But in rural sector i think mobile banking is also not effective now. But coming 3 and 4 years both mobile banking nad e-banking will be effective in rural area also because in rural area also today generation are trying to learn electronics sources like computer.
By
Rajesh Kumar, PG Diploma student, ICBM-SBE, Hyderabad
| 08 07 2010 17:15:07 +0000
I firmly believe that mobile banking would be a big success.
There has been an exponential growth in mobile users.
People from all the sections of society know how to use the mobile.
Mobile usage has also penetrated deep in the rural areas.
It would be like a handy solution anywhere round the clock.
It would have almost unlimited reach nationally as well as internationally.
By
Chetan Kudalkar, Manager SWIO, NVIDIA Graphics
| 08 07 2010 08:48:08 +0000
With the bulging growth of mobile users and still the banking services ( even though the financial inclusions are in progress) distanced from a common man, has good potential. The only concern is the safe usage... Equitably the tech frauds causing the concern of the interested users... otherwise the usage would be very very wide....
By
G C Jagadeesan, Retired Client Banker - Corporate Banking, ICICI Bank
| 08 04 2010 07:34:07 +0000
Mobile banking can be a huge success if stripped down versions of the e-banking solutions can be made available to the smartphones/pocket pcs.. However, the key remains in download time, security and handphone browser capabilities ... If these are addressed properly, we can see a huge revolution in M-Banking.
By
Kabir Chatterji, Program Manager, Tata Consultancy Services (TCS)
| 07 29 2010 06:34:26 +0000
There is no denying the fact eventually mobile banking will have an edge over e banking for 2 basic reasons- 1. Phenomenal geographical reach due to far superior connectivity. 2. Lower capital investment in a mobile as compared to a Computer for an individual.
By
Prem Kumar Kunnath, Chief Financial officer, Ithraa Capital
| 07 28 2010 07:10:53 +0000
Why not? Mobile banking literally has a huge potential to reach up to the bottom of pyramid. By a combination of Interactive Voice based services and Text based services through tie-up between banks and mobile service providers, mobile banking can bring millions of unbanked to the banking sector. The account that is created for a subscriber with a mobile service provider can be leveraged for use as a banking account and the balance in his mobile account can be used for other transactions too. Possibilities are truly tremendous. It only needs a right policy framework and sound regulatory structure. Mobile banking is the way to go for the future.
By
Sampathkumar , Internal Audit Manager, Unifi Capital P Limited
| 07 27 2010 09:55:38 +0000
According to a recent research by TowerGroup, mobile banking usage in India is estimated to increase from 10 million users in 2009 to 53 million in 2013. This might explain the increase in players who provide mobile banking. However, how many of us really believe that mobile banking is really he next big thing? E-banking definitely lived up to expectations but at the same time was prone to security lapses.hough mobile banking offers to be more secure than e-banking, there have been cases of fraud even through mobile banking, where a customer found himself duped of over 2 lakh rupees. This definitely raises concerns. If someone were to obtain the SIM card of a person who has active mobile banking, then he might be able to use it. But at the same time, compared to e-banking, the mobile version is definitely a safer bet.
By
Nero , Freelancer, Banking
| 07 27 2010 08:23:33 +0000
|
No. E-banking is from internet and mobiles for mobile banking. Mobile banking means flexibility because we are only using our mobile phones without the availability of internet communication.
By
rosalie de la cruz, Civil Engineer -Telecom, UTECH
| 01 18 2011 08:43:04 +0000
Money Management for ones day to day money transactions involving every micro and pico amount of money payments using phone is entirely different to e-banking over INTERNET or Mobile banking. The drawback I find is that people confuse Money management using phone with Mobile banking or Internet based e-banking involving regular banks Post offices or Money exchanges. The Money through Mobile (MTM) I am propagating is transparent to banks. Although the technology and access between users are through Telecom network, the product is also transparent to Telecom service providers. MTM service providers can be a third party like the "Roaming house' that handles the appropriation of roaming call charges. Of course, the product envisages transfer of money from banks and post office savings accounts to MTM user accounts and vice versa. Beyond that banks and Post offices have nothing to do with the MTM business. In fact the position of banks and Post offices in MTM system is also like any other MTM user. The product envisages money transfer to any MTM user account from anywhere anytime even from land phones using prepaid coupons. Real revenue is from profitably deploying the huge amount of money that remains within the MTM system. Like in Mobile pre-paid service, the service providers prints money in the form of pre-paid paper coupons and sell through various outlets so that the money come into the system even before the service is used and most of it remains within the system as only e-money move between one account to other within the system. As the prepaid coupons are sold at a premium, the MTM provider gets his profit share at the point of sale of coupon itself. It is therefore, is in the interest of the Telecom Service providers to set up and own the MTM system by a consortium of Telecom Service Providers to tap the revenue generated by this product that uses their network and customer base. Success of the system lies in the potential to provide the service free of cost to the user that can be easily compensated with the huge revenue from various instruments of profitable money management. The product should be available, accessible and affordable to common people. Cost to the user involving these low value high volume transactions should be negligible if not nil. Banks with the type of service as it is now, will not be able to realize this object. If you have difficulty in accessing my presentations in www.peerpower.com / Telecom & IT Group / Repositories / Documents, you can have it from me by e-mail.
By
Abraham Paul, Senior Telecom Consultant, FCOMNET- Future Groups
| 01 18 2011 07:58:16 +0000
I think no cause it looking at present scenario .. mobile usage for sensitive matters like banking is not safe... today people still think twice to use e-banking , so mobile banking is still too far..
By
Santosh A. Jadhav, Sr. Officer Sales
| 08 19 2010 12:54:41 +0000
|
