From the bank's point-of-view, representatives consider that the main advantages are: m-banking can be used as a very good distribution channel, it increases sales volume, it reduces costs of distribution, and it increases customer satisfaction.
Market Overview
The banking sector is characterized by intense and tough competition. The intensification of competition is mainly influenced by globalization. However, in order to counteract this matter, banks have the opportunity to provide their financial services across the world without investing important amounts of money, due to technical developments. This opportunity has allowed banks to enter new markets that otherwise required tremendous financial, technical, and human resources efforts. Another feature that characterizes nowadays m-banking sector regards customers' price-sensitivity, which forces banks to introduce innovative services.
Specific Applications
M-banking aims at three important target groups: the youngsters, the young adults, and the business people. The youngsters segment includes people aged 14-18 that require ubiquitous services. This segment is regarded as a future prospective clientele, the young adults segment is considered...
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