Impact of Smartphone Technology on the Banking Industry

Running head: ITECH 1100 UNDERSTANDING THE DIGITAL REVOLUTION
ITECH 1100 UNDERSTANDING THE DIGITAL REVOLUTION
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1ITECH 1100 UNDERSTANDING THE DIGITAL REVOLUTION
Table of Contents
Part One – Research.............................................................................................................2
Part Two- Brainstorming.....................................................................................................3
Part Three- Regulation and Ethics.......................................................................................3
Part Four- Disruption...........................................................................................................4
Transcript.............................................................................................................................8
References..........................................................................................................................10

2ITECH 1100 UNDERSTANDING THE DIGITAL REVOLUTION
Part One – Research
Mobile Devices is also known to be cell phone which is a medium of communication in
the whole channel of wireless delivery. Mobile can be referred to as the application that is
mainly designed for easy moving from one given location to another (Susanto, Chang & Ha,
2016). Mobile banking is also known as m-banking which is a method of carrying out transaction
by the help of smartphones. It can be stated as the execution of different kind of financial
services which is in line with the electronic procedure. In general, the customer makes use of
electronic procedure for which the customers make the given techniques for conjunction of
devices. There are large number of technologies that make use of smartphones for interaction by
making use of SMS, IVR and WAP.
The whole domain of banking aims to play a key role in both prominent and active kind
of role for economic life by making use of technology. The whole domain of information
technology focus on banking industry aims to improve the overall performance and quality of the
provided services (Mungai & Bayat, 2018). Banking Industry is mainly driven by various
technology innovation which will make the whole market uncertain and competitive in nature. In
the last few years, there has been rapid shift from traditional model of banking to electronic
mode of banking. There are large number of completive banks which focus on investment so that
the new technologies can be easily adopted. It is mainly done so that it can be aligned with
overall strategies of the business strategies. It will merely help in overall functional improvement
along with providing the best kind of customer based services.
The e-banking mode aims to provide various kind of services by making use of different
kind of channels. The most suitable channel is the internet technology (Khan & Ejike, 2017). It

3ITECH 1100 UNDERSTANDING THE DIGITAL REVOLUTION
comes with unique kind of disruptive feature that is mainly needed by various communication
channel.
Part Two- Brainstorming
All the possible impact of smartphone in the industry has been described below like
 The biggest plus point for the use of mobile technology is all about the ability by which
trade will go on. Account holder of bank can easily keep a track of account irrespective
of their location (Tam & Oliveira, 2016). The whole of the financial market is at the
fingertips of the user that has made the whole venture very much accessible.
 The overall flexibility that is being offered by smartphone technology has bring huge
number benefits to the customers (Ismail & Alawamleh, 2017). With the increase in the
overall accuracy, the information of the traders need to work cannot be easily overlooked
anyhow. By the help of mobile technology user can easily put required charts and
information on their screen.
 In present scenario, a large number of banks have adopted an easy collaborative
approach that is needed by the mobile channels that focus on the present platform
(Puriwat & Tripopsakul, 2017). This particular step will them to mere focus on the
specification of product and its overall innovation. This particular step will ultimately
reduce the effort in the present scenario of markets.
Part Three- Regulation and Ethics
Market: There is a good platform where the smartphone technology will grow and bring
will huge number of benefits to the present customer of banks.