Disruptive Technology and Its Application in Mobile Banking

This paper discusses the application of disruptive technology in mobile banking, with a focus on the use of smartphones. It elaborates on the advantages and issues of using smartphones as a disruptive technology.

Running head: DISRUPTIVE TECHNOLOGY
DISRUPTIVE TECHNOLOGY
Name of the Student:
Name of the University:
Author Note:

1DISRUPTIVE TECHNOLOGY
Executive Summery
The disruptive technology helps in the improvement of the technology. One of the file of
application of the disruptive technology is mobile banking. The paper has elaborated the way the
disruptive technology has replaced the traditional way for the communication. In this paper the
application of the disruptive technology has been discussed. The example of the disruptive
technology mentioned in this case is the smartphone. Smartphone is a technology which merges
the basic functioning of the cell phone with other advantages of the communication through
internet. The paper discusses the advantages and the issues regarding the use of the smartphone
as the disruptive technology.
Part A:
Disruptive technology is the technology that allows adding new value in the application
of the different aspects of the business and creating new market demand (Pechacek et al. 2016).
There are certain disruptive technologies those can be used in the different application and the
business aspects of the industry (Ganguly, Nilchiani and Farr 2017). One of the applications of
the disruptive technology is the application of the smartphone. The use of smartphone allows
better communication in different terms. The main advantage of the smartphone is that it allows
the merging of the basic functions of the mobile phones along with the other additional
functionalities. Some of the functions are detection of the location through GPS and the usage of
internet and enabling the MP3 and MP4 player (Pechacek et al. 2016). There is several
application of the smartphone which can be used in the different sector of the business. One of
the applications of the smartphone in the business sector is the use of smartphone in mobile
banking.

2DISRUPTIVE TECHNOLOGY
Part B:
The use of smartphone has helped the people to do different operations through the
smartphone. Smartphone is the merging of the basic cell phone operations along with the other
additional functionalities (Ganguly, Nilchiani and Farr 2017). Most of the operations are
completed through the use of internet in the smartphone (Boccardi et al. 2014). The users can
share anything in the social media and the compilation of the different work can be done through
the use of different apps in the smartphone (Ganguly, Nilchiani and Farr 2017). Apart from that
the e-commerce websites can be accessible through the smart phone along with the detection of
the locality and tracking of the order.
Earlier the use of cell phone only provides the user to make and receive calls. The SMS
was the other option for communication which can be done through the cell phone. Through the
invention of the smartphone the users can make and receive calls along with tat they can
communicate with the outside world through internet. Apart from that the users can detect the
location through the phone (Brummer 2015). There are various apps those can be used through
the phone are helping the users to compile different functionalities like online shopping, online
ticket booking and online banking. The overall application of the smartphone mitigates the
overhead cost of the business.

3DISRUPTIVE TECHNOLOGY
References
Boccardi, F., Heath, R.W., Lozano, A., Marzetta, T.L. and Popovski, P., 2014. Five disruptive
technology directions for 5G. IEEE Communications Magazine, 52(2), pp.74-80.
Brummer, C., 2015. Disruptive technology and securities regulation. Fordham L. Rev., 84, p.977.
Ganguly, A., Nilchiani, R. and Farr, J.V., 2017. Technology assessment: managing risks for
disruptive technologies. In Managing Technological Innovation: Tools and Methods (pp. 25-54).
Pechacek, T.F., Nayak, P., Gregory, K.R., Weaver, S.R. and Eriksen, M.P., 2016. The potential
that electronic nicotine delivery systems can be a disruptive technology: results from a national
survey. Nicotine & Tobacco Research, 18(10), pp.1989-1997.