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What is mobile banking_

Online money transfer in australia

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What is mobile banking_

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  1. What is mobile banking?

  2. Mobile banking is used to make financial transactions using mobile .This service is provided by many remittance providers, especially banks. Mobile web services introduced in 1999, European banks were on the verge of providing mobile banking services, using the mobile web with the help of WAP. SMS and web banking were the most popular banking products before 2010. With the development of Smartphones with iOS or Android apps, mobile banking apps began to emerge.Clients able to download banking apps on their Smartphones have more communication and advanced development capabilities. Many banks use both SMS and mobile apps to keep their clients informed of their account activities or to send alerts about updates and service details.

  3. Main types of cyber attacks occur in mobile banking are following: Backdoor attacks: when thieves use other means to access a system that does not require standard authentication methods. Some systems have rear doors for construction; others are the result of a mistake. ❖ Direct access attacks: It includes bugs and viruses, which gain access to the system and copy its information or modify it. ❖

  4. Mobile banking is very secure as long as you follow the guidelines and be very careful not to make stupid mistakes. Almost all financial providers send customized apps to their key clients. If you are making online money transfers with mobile apps, here are some of the advantages of mobile banking: Easy to use : With the introduction of mobile banking apps we don't have to go to the banks or to any other money transfer agency to make a transaction. Instead, do it anytime, anywhere, just at the touch of a finger. ➢

  5. Push Notifications: With mobile apps, even if you forget to turn it on, they send Push notifications notifying you of various updates on exchange rates, offers and promotions offered by a financial provider etc to attract your attention. ➢ Security: Mobile transaction security is a key and outstanding function of remittance providers. Therefore, most of them tend to allow for the verification of many things like mobile number, password, biometric authentication etc to double check the user's financial performance. ➢

  6. All the details simply swipe away: In the usual way, in all the minute details about the remaining account or transaction details or whatever, the person was forced to come to the bank. But mobile apps provide all the necessary information such as account balance, update recent activity, transfer fees, tracking transactions etc on your mobile phone. ➢

  7. Mobile banking allows consumers to access banking services anywhere. With mobile technology. Banks and remittance providers are able to reduce operating costs while maintaining customer satisfaction. Send money online for ease and convenient transactions.

  8. THANK YOU

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