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Mobile Banking

Mobile Banking . Ravi S Vadgama. IT Profession and Topic . The individual I interviewed is a client account consultant at Fiserv Inc. He provides trading solutions to financial institutions Topic he asked me to research is new era of mobile banking and how it can benefit his clients.

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Mobile Banking

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  1. Mobile Banking Ravi S Vadgama

  2. IT Profession and Topic • The individual I interviewed is a client account consultant at Fiserv Inc. • He provides trading solutions to financial institutions • Topic he asked me to research is new era of mobile banking and how it can benefit his clients

  3. Emerging Markets and Competitiveness • Financial Institutions must remain competitive • Developing countries in Asia and Africa are early adapters of mobile banking (Kenya leads the world in money mobile transfers) • Fiserv must introduce mobile banking to clients to compete

  4. Loss of Revenue • Javelin Strategy & Research did a study on mobile banking and found that financial institutions are losing revenue by not capitalizing on mobile banking. • Big market exists for mobile banking • 86% of adults own mobile phones • Mobile bankers are more open to bank advertisements than regular bankers

  5. Growth in Mobile Banking Industry • Tremendous Growth • 2007 – 400,000 mobile banking users • 2008- 3.1 million users

  6. Early Adapter • Huntington Bank first to introduce mobile banking • Attracts all types of customers no matter age/income level

  7. Main sources • Badidea Magazine: Innovation in Action • The Economist • Javelin Strategy & Research

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