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Mobile Banking in India
Tags :
mobile banking, mobile payment, mobile, retail banking, indian banks, bank, banks, banking, marketing, marketing services, marketing strategies, commercial bank, mobile banking in India
Industry :
Banking
Functional Area : Business models, product development |
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About "Mobile Banking in India" topic:
Mobile Banking or M-Banking has become the buzz word in the industry. Mobile banking today is most often performed via SMS or the mobile internet and also use special applications which clients downloaded to the mobile device. The topic aims at bringing the mobile payments and payments ‘ecosystem’ together. Let us discuss the strategy, innovation and emerging business models for mobile banking and payments in India.
2 trends
, 3 insight
, 7 debates
, 6 idea contests
, 3 question
on topic: "Mobile Banking in India"
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(rate this)
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1
Address security concerns
2
Providing secured mobile banking services even from Normal Handsets
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ATMA RAM CHAVALI
| Supported idea
"Address security concerns "
| 3 years ago
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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...
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Niranjan Meena
| Supported idea
"Address security concerns "
| 3 years ago
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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.
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soumya saxena
| Supported idea
"Address security concerns "
| 3 years ago
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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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Ideate: "How do you accelerate customer adoption rate for mobile banking?" deleted from your view.
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(rate this)
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1
PIN numbers
2
Financial Inclusion
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Jyoti Rath
| Supported idea
"PIN numbers"
| 3 years ago
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I agree with Anirban. Remembering too many numbers is not always an easy task to do. But those banks are remembering PIN for internet and telephone banking are indeed taking a good initiative. Therefore, we should have a minimum number of PIN...
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Viswadeep
| Supported idea
"Financial Inclusion"
| 4 years ago
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The use of mobile for banking i.e, towards payments and settlements(remittances) would help in financial inclusion.The use of non banks to accept cash for topping up the accounts can only make financial inclusion successful till such time all the...
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Ideate: "How the mobile phone can power banking?" deleted from your view.
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(rate this)
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Yes
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16
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VS |
3
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No
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Mrunmaiy Abroal
| Argues in support of
"Yes"
| 3 years ago
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I will never be comfortable using a non-bank platform (read Nokia) for my mobile banking.
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Japan Shah
| Argues in support of
"No"
| 3 years ago
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I do not think that the Technological Innovations will hurt the traditional/ conventional banking... On the contraray i believe that the conventional banking will become more strong in INDIA.. In INDIA we are adopting and implementing various...
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P. Abraham Paul
| Argues in support of
"Yes"
| 3 years ago
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Dear Ms. Singh, Please read my posting on Mobile Money Manager, the insight in Telecom IT community. This and many other powerful product suggestions were given by me to the Mobile Service Provider and later to the Mobile sytem vendor while I...
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Debate: "Nokia plans to launch Mobile Banking" deleted from your view.
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(rate this)
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1
Mobile phone the new wallet
2
Rural folk should have a Mobile and (surplus) income too
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ASOKE KUSARI
| Added idea
"Rural folk should have a Mobile and (surplus) income too"
| 3 years ago
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The towns and cities have been so far built by depriving the rural India and its people. Now is the time that we repay their snatched away contributions. Mobile Banking to them is one of such initiatives. No more days of "Class Banking" - now we...
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hemanth kumar
| Supported idea
"Many Significant Changes Req in Rural India"
| 3 years ago
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rural people has to get basic need such as education etc ,then rural banking possible
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Radha Sundaram
| Supported idea
"Mobile phone the new wallet "
| 3 years ago
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This is very good idea Sonal,mobile banking system allowing people without a bank account to fill a "mobile-phone wallet" with cash to pay bills or send money to relatives and others depending upon their numbers is a very good idea which will...
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Ideate: "PMO tells expand mobile banking to poor: How to do it?" deleted from your view.
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(rate this)
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job
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1
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VS |
0
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it
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Gourav Goyal
| Argues in support of
"job"
| 2 years ago
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are who told many ppl that side by side you cant do the job are many ppl in this world also have parttime business and they have got sucess. just like many ppl also workinh as a broker its also a good parttimr business
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Debate: "Gourav goyal" deleted from your view.
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(rate this)
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Telecom industry is at cross roads again. What ails telecom business now? --With growth of wireless telephony, land line volume is diminishing. --With SMS and advent of Data service, Voice call revenue is dwindling. --Various E-businesses move revenue from Telecom to Content providers and SMEs. Refer my posting 'Telecom Multi-media ----' http://toostep.com/insight/telecom-multi-media-business --VOIP and other INTERNET based telephony bye pass Telecom systems. --With 3G and Multi-media business, Telecom will face revenue moving out of it to external service providers and Content providers. --New technologies in Telecom, demand higher CAPEX with no scope of matching ROI. ARPU is shrinking ac...
Insight: "Future of Mobile Banking. Telecom Service Providers need to grab the opportunity now." deleted from your view.
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(rate this)
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1
Mobile No-frills accounts
2
Security
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Abdul Raheem.Syed
| Added idea
"Roaming,Interoperability and Interconnect should be taken care"
| 2 years ago
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The Roaming,Interoperability and Interconnect aspects should be taken care thereby ensuring the customer satisfaction across the globe
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V. Srinivas
| Added idea
"SECURITY"
| 2 years ago
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the security aspects of the situation should be tightened up first - this is very important and crucial. recently (2 years ago) i was bedridden and in hospital for a period of 2 months because of a serious accident. i used my mobile to create an...
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Leena Khade
| Supported idea
"Mobile No-frills accounts"
| 2 years ago
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Totally agree with you on this sonal....and thanks for the referral, and yes TRAI is doing the right thing by asking relevant people review like how things will work out if Mobile banking is introduced which will touch so many people, and even...
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Ideate: "TRAI seeks views on mobile banking.........." deleted from your view.
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(rate this)
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Yes
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35
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VS |
23
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No
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Nandakumar Pulipaka
| Argues in support of
"Yes"
| 2 years ago
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IF m banking is good in some immediate condition s but not in allathe times because if loss your mobile you are a losser?
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Sarabjeet Singh Johar
| Argues in support of
"No"
| 2 years ago
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security arrangements aren't in place. Infact computer transaction already seems unsafe.
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Sujatha srivastava
| Argues in support of
"No"
| 2 years ago
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No not yet....Mobile phone penetration is set to reach 60 per cent of India’s population in 2011, but banking touch points lag at about 0.07 touch points per 1,000 people....However, with telecom and banking majors stepping up mobile banking...
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Debate: "Are you really ready for M-banking?" deleted from your view.
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(rate this)
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K. V. Kamath, CEO of India's second largest banking and financial services conglomerate, ICICI, is a man in a hurry. When he occupied the driver's seat at ICICI more than a decade ago, it was a financial institution hamstrung by political constraints. Kamath was a key member of the top team at ICICI, including chairman Narayanan Vaghul, that led the organization into new businesses such as insurance and banking. Kamath, who spent his early years with the Asian Development Bank in Manila, used technology effectively, including online banking, to pry open market expansion. Today, his top challenge is to retain the talent ICICI trains, which is keenly sought by other financial services players...
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m k mathai
| Commented
| 3 years ago
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rural india remains largely unbanked even today. financial inclusion and similar high sounding initiatives havent made a dent yet. probably because bankers have no understanding of the needs of rural india. it is definitely not high tech banking...
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Hitesh Thakkar
| Commented
| 3 years ago
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Hi Sajan, Thanks for sharing the bitter side of good Institute as ICICI. I only hope that top managment also would have heard such things and may come up with plan of action to curb it.
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Hitesh Thakkar
| Commented
| 5 years ago
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Yes Shyam, You are right. Actually, I admire FINO initiative of IBM + i-flex and ICICI bank. It is one step towards low cost technology plateform to all the MFIs. Problem is Non Banking footprint being too large against the banking one. Every...
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Insight: "Banking in Rural India - Best Thought from K.V.Kamat - CEO of ICICI Bank " deleted from your view.
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(rate this)
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Yes
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5
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VS |
3
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No
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Raju V P
| Argues in support of
"No"
| 2 years ago
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A surprising NO from a IT professional. But it is correct - atleast for the short term. Leave alone the technology part in the Banks, etc. How do you educate these people about the benefits of mobile banking in the short term? Me and one of my...
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Shankar
| Argues in support of
"Yes"
| 2 years ago
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Sure it will reach all level of people
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Nidhi Singh Chauhan
| Argues in support of
"Yes"
| 2 years ago
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Yes, It can be success in India.In india security of money is still a major concern.Poor people who do not have bank vaults would prefer safe gaurding their money in mobile wallet rather than under the mattress of some with some landowner or some...
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Debate: "Is mobile banking going to be a hit among low income group in India??" deleted from your view.
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7 Steps to Protect Against Online Fraud for this Year's Tax Day SonicWALL Security Threat Team Offers Insight and Guidelines on Phishing Scams and other Invasive Schemes Related to Tax Day Bangalore, Karnataka, India, Tuesday, April 12, 2011 -- (Business Wire India ) -- With tax day around the corner, SonicWALL, Inc., the leading provider of intelligent network security and data protection solutions, today released the results of its phishing quiz . Of the three million respondents to the quiz, only 7.4% answered all of the questions correctly. When asked to determine whether a suspect email was a phishing e-mail or a legitimate email, respondents were wrong 22% of the time. In addition, quiz results reveal that 1 in 10 people will act on a phishing email even after they have been told it is suspicious; actions include opening the email, clicking on links and even providing personal data at the phisher's website. The seasonal rise in phishing threats associated with the...
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