In emerging markets, mobile phone banking is growing because of the lack of infrastructure.
Kenyan sugar cane cutters are earning more money because of a mobile phone banking system supported by IBM.
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We are looking for ways to expand mobile phone banking and to use local merchants to accept deposits through point-of-sale terminals.
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Retail bank branches may be the oldest legacy of all, but they have not been replaced by ATMs, direct deposit, standing orders for bill payment, travelers checks, credit cards, phone banking, Internet banking or mobile banking.
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According to the study, 21 percent of mobile phone owners have used mobile banking in the past twelve months, and an additional 11 percent think they will probably use it within the next year.
As CIO of the community bank, Wood is responsible for branches, ATMs, phone banks plus Internet and mobile banking.
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That is when I realized in my lifetime it might be possible for everyone to have access to banking through his or her mobile phone.
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Two-thirds of mobile banking users say they used their mobile phone to check an account balance or available credit before making a large purchase in the past twelve months.
In the emerging world , the most famous mobile payments success is in Kenya, where M-Pesa , the P2P payments service of mobile phone supplier Safaricom, has effectively created an alternative banking and payments system.
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In Africa, where just about everyone has a mobile phone but only a minority have a bank account, banking on the move seemed the obvious answer to all sorts of problems.
Research analysts at Goldman Sachs displayed commendable independence by dropping Vodafone from the bank's list of recommended shares, despite a close banking relationship between Goldman and the British mobile-phone giant.
Granted, your mobile banking application will load much faster, but if you lose your phone, that information will be available to anyone who finds it.
Nearly half of mobile-banking users and 63% of nonusers said they would be hesitant about using a phone camera to make a check deposit, according to a survey conducted last year by Infosys Ltd.
And at the heart of it is a powerful idea - that your mobile phone number can become the key to your bank account without you having to hand over your banking details to anyone who wants to pay you.
The expansion of banking through cell phones is highly strategic: 85% of Haitians already have access to a mobile phone.
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The race for marketshare is on, as mobile phones bring banking to places that never had a physical infrastructure for it just as they did earlier for phone service itself.
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