The growth in usage of cellular phones and instant messaging services enabled us to use this medium and make banking possible “Anytime and anywhere.” SMS banking will allow the customer to access various information at fingertips and banks on their end will have a personalized access to their customers in this fast growing economy, thus saving time at both ends. The fierce competition in the market and desire to grow requires keeping the customer updated thus making mobile banking an important tool for any Bank. SMS Banking is a technology-enabled service offering from banks to its customers, permitting them to operate selected Banking services over their mobile phones using SMS messaging.
SMS Banking services are operated using both push and pull messages.
The Bank chooses to send out to a customer’s mobile phone, without the customer initiating a request for the information.
The customer using a mobile phone for obtaining information initiates these.
When people are hard pressed for time, the need for “Anytime Anywhere” banking gains utmost importance. Banks provide a novel service, which gives customers their account information from the Cell Phones.