Banking & Insurance Professionals |
Startup World |
Branch Managers in Private Banks
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Activity:
136 views;
last activity : 07 06 2010 20:18:09 +0000
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Address security concerns
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Providing secured mobile banking services even from Normal Handsets
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Customer awareness is key
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encourage 24/7 service, free or reduced fees , incentivise e-channel transactions
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challenges - increase the Customer base
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MORE & MORE AWARENESS WITH ATTENTION TO THE SECURITY CONCERNS
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Increase in internet Speed
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Demo A/c's
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Mobile Education, Awareness
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A lot of research reports have warned lately that security concerns might hinder mass adoption. So its important to address those security concerns & also mobile phones should play a crucial role in enhancing second factor authentication and provide a stronger security for financial services...
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Yes, addressing security concerns is a must.At the same time the banks have to campaign more aggresively about mobile banking. Now in India there are more number of mobile users than net users.The banks should concentrate on rural/semi-urban India to tap the customers. Rather than the MPIN identification they should also adopt other methods of validating the customer more secure. Once the concentration/focus shifts to rural/semi-urban population the authentication system of biometric methods like Voice Recognition etc. This can be used as part of Financial Inclusion also
Mobile banking is an amazing technology, the cause of failure is mainly due to its security concern. People feel that banking through mobile is not safe. So improving the security process in mobile banking will accelerate the customer adoption rate.
I think the two main factors are awarenes & security about the facility being provided.the media channels are working so goo that awareness can be generated in some time . but if there is no security of transactions is involve .it will not work
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I have been working in the mobile banking industry for the past 2 years, no doubt security will be a primary concern, which we have dealt with it effectively and when the primary concerns being meet, we have observed one more issue is that the feature should be made available even to the cheapest handset available in the market, which gives cutting edge in the industry, and i am proud to say that we have reached that level too. As many of our friends thought now only the key step remained is "customer awareness". |
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Yes most definitely, customer awareness is key. For that, we need banks and customer education. While the first step was to focus more on existing online banking customers and offer them a mobile banking solution, we now need to focus on segments that don’t use online banking but would like to prefer mobile for transactions.
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Das, you are right the first thing is just awareness, to increase customers’ understanding of the products available. You’ve got to tell the market that this service is now available to them and that this is the value proposition that’s being offered. We really haven’t had a marketing campaign to launch the service and get it top of mind with the consumer. We should fix that first.
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I reckon that in todays world the customer is surely the king and deserves to be treated right. Banks must lure customers into the e-channels services by offering them discounted pricing, value add services and confirming to 24/7 service at all times. Variable pricing will surely lure customers to alternate channels - have tried this at other markets & it sure works. Alongside to this, Banks must also establish a covenient transaction reconfirmation process (via instant SMS) This provides the customer the desired level of comfort. |
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The challenges faced by banks I see as to provide up todate information of account status, & services , and providing vital info abt all services offered by the bank Opportinities include make customer interaction more effective & cost efficient, Focus on value added services and become more effective in new product launches, save down cost of paper and use mobile advertising
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Major area of concern is the security as well as getting the customized handset specially among youth to make it a fashion. Only simple, easy to use & economical h/w as well as s/w can help in making MOBILE BANKING popular in urban as well as rural india. |
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Mobile banking is a future of banking. Presently very few people use mobile banking and the main reason is that internet speed is very slow. I think after the emergence of 3G in India, mobile banking will also take off. |
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Customers should be given/shown demo amount trnf and use of mobile banking so that they get enrich and adopt it nothing but awareness...
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Its great that mobile banking is coming to cope up with dynamic world. But in India how far it would be succeed that we see in future. Because in India most of people are not educated & they just use mobile for communication purpose. So its important to educate people first regarding mobile functions to operate conviniently. To populerize the Mobile Banking first we should make aware people regarding the same through advertisements & Demos. |
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