How Banking Technology On Mobile Is Changing The Paradigm Of Operation
In today's time and age, everyone is looking for convenience or to save time whenever possible. Be it travelling, working or even unwinding, every individual utilizes every second possible. When it comes to banking, this is no different. While managing ones finances can be crucial, in today's time, one cannot spend a lot of time maintaining and managing it. At such times, banking technology comes to the rescue, allowing us to perform the same banking duties in minutes instead of hours.
The following reasons show you how the new age mobile technology has changed the paradigm of banking operations.
Branch Free Operations
Many a times, when you would want to conduct any banking functions from your account, you would be required to visit the bank. Additionally, you could only do these activities at your local branch, thereby restricting your banking functionality. With mobile banking in India, you need not approach the bank to conduct any functions. You can now simply perform these same functions from a single tap on your mobile screen. Whether you want to order a personalized check book or even check your bank statements, you can easily do this with an app on your phone or by connecting to the internet through your smartphone.
Free Wire Transfers And Other Services
As part of the banking facilities, you can transfer your funds from one account to another through wire transfers and other related services. Although this facility is considered to be a secure service it often takes a lot of time. Additionally it will also charge you a small fund as service charge. The service of the mobile banking in India makes it much more easier for you to transfer funds. You can easily transfer funds from one account to another through the mobile app or a secure internet connection. Since this process does not require manual service from the bank itself, you will not be charged any service charges.
24X7 Banking
Traditionally, for any banking function you had to do, you would have to approach the bank. This had many restrictions, especially in a financial emergency situation. With the mobile banking in India facility, you do not have that restriction. Once you load the mobile app on your phone or make an online account with the banking institute, you can easily access your account through the internet. Since the internet is widely available and easily accessible at any time of the day or night, you can easily access your account whenever you need to. Be it to check on your banking statements or even transfer funds, this can be easily done at any hour of the day.
The following reasons show you how the new age mobile technology has changed the paradigm of banking operations.
Branch Free Operations
Many a times, when you would want to conduct any banking functions from your account, you would be required to visit the bank. Additionally, you could only do these activities at your local branch, thereby restricting your banking functionality. With mobile banking in India, you need not approach the bank to conduct any functions. You can now simply perform these same functions from a single tap on your mobile screen. Whether you want to order a personalized check book or even check your bank statements, you can easily do this with an app on your phone or by connecting to the internet through your smartphone.
Free Wire Transfers And Other Services
As part of the banking facilities, you can transfer your funds from one account to another through wire transfers and other related services. Although this facility is considered to be a secure service it often takes a lot of time. Additionally it will also charge you a small fund as service charge. The service of the mobile banking in India makes it much more easier for you to transfer funds. You can easily transfer funds from one account to another through the mobile app or a secure internet connection. Since this process does not require manual service from the bank itself, you will not be charged any service charges.
24X7 Banking
Traditionally, for any banking function you had to do, you would have to approach the bank. This had many restrictions, especially in a financial emergency situation. With the mobile banking in India facility, you do not have that restriction. Once you load the mobile app on your phone or make an online account with the banking institute, you can easily access your account through the internet. Since the internet is widely available and easily accessible at any time of the day or night, you can easily access your account whenever you need to. Be it to check on your banking statements or even transfer funds, this can be easily done at any hour of the day.
Source...