A decade back, India was not well-acquainted with computers. Computers only existed in schools or in the lavished offices of multinational companies, and the activities done using them were limited. The world on internet was totally unexplored and its reference was only found in encyclopaedias meant for educational purpose. All the transactions in the banks were paper-based and required ample amount of time and resources. Even for withdrawing a small sum of money from bank, a person would have to spend substantial amount of time standing in the queue and following the designated withdrawal procedure agreed upon by the banks.
This scenario was completely flipped with the advent of internet. Internet brought several reformations with it and transformed the face of banking in India. Instead of standing in queues for withdrawing cash, you can now opt for ATM counters, which vend cash easily. By simply swiping your ATM card, you can easily withdraw cash, without waiting in long queues and following stringent procedures of the bank. Similarly, you can use the same card across several shopping counters for payment of bills. Details on the card can be used to pay your electricity bills, credit card instalments and many other expenses, which you would normally cover up using cash.
However, the some individuals found it difficult to keep and maintain cards with them. For them, the banks launched the facility of internet banking. With internet banking, the account holder did not require the use of cards. By entering a few key details related to accounts, one could easily carry out transactions without any hassles. Net banking facility gave the liberty of shopping goods online and has fuelled the growth of ecommerce in India. It has simplified transactions of several government and commercial bodies and save them ample amount of resources and time.
This internet based banking facility was not easily available with hand-held devices due to their sophisticated functioning. So, the mobile and tablet users found it difficult to carry out ecommerce transactions. Thus, net banking was simplified using mobile app technology. With this kind of liberty, users can now carry out complex financial transactions easily by simply using their mobile phones. For proliferation of this kind of banking, banks have specifically launched their own mobile banking apps. These apps are based on popular platforms like Android and Windows and offer complete liberty of installation on handheld devices like smartphones or tablets.
For ones, who do not use smartphones, banks have now launched banking facility using SMS or mobile browsers. With this kind of freedom, one does not need to visit the branch office or stand in long queues. One neither requires following the rigorous paper-work nor waiting for long hours. The processing time has been reduced to minutes, rather than hours or days. Moreover, the mobility of transactions has been improved and each and every user can now access this facility from any corner of the world. The world is growing with the rise of computers and internet, and mobile banking has pushed it to the next level.
riyabhora 