Banking is traditionally a very slow moving and conservative business, but on my banks website I see they have a proposal for a whole new set of alternative banking arrangements. Apparently one development they are working on is fully mobile banking services.

They are considering the transfer of a number of services available in the physical and virtual branch’s to the customer’s mobile phone and this represents the next step in the financial industry.

Financial system has advanced by leaps and bounds in the last decade, of course. However, as with everything, there are still areas where progress can be made much faster. And this technology may have a lot to do with the way I deal with my banking needs in the future.

My bank is apparently developing a new system with Orange mobile broadband and other banks are working with other providers to give new mobile services to customers.

A few months ago I read an article in the American Time magazine that suggested that the banking industry is moving out of the era of customer service and is now about to begin the era of self-service.

This convenience for the customer will also be presumably be a cost saver for the bank

This entry was posted on Friday, October 24th, 2008 at 5:24 am and is filed under Better Telecommunication, Buyers Guides, Tech World. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.