Mobile Banking: Convenience, Security, and Sustainability
Added on 2023-06-03
7 Pages1103 Words71 Views
MOBILE BANKING 1
Mobile banking
By
[Student’s name]
Course
Institution
Date
Mobile banking
By
[Student’s name]
Course
Institution
Date
MOBILE BANKING 2
MOBILE BANKING
The innovation requires one to have a smartphone or a tablet so as to be able to conduct banking
transactions. The innovation involves downloading an application that is designed by the
involved bank. The customer is then required to sign up and the information is linked with the
bank information. The innovation enables individuals to conduct banking transactions at the
comfort of their offices or homes at any time of the day. The innovation enables individuals to
avoid wasting time queuing in banking halls and in automated teller machines so as to withdraw
or deposit cash. The innovation has created conveniences in the banking sector.
The internet
The internet provides connectivity to millions of computers worldwide and enables them to share
information through the use of networks. Internet protocols enable devices to be linked so as to
share resources (Sheng, et al.2013, p.95). The internet offers a great range of resources that can
be used by researchers to come up with many innovations. Mobile banking requires internet
connectivity so as to download the application from play store and other sites offering similar
services. The internet also enables the mobile banking application to share information with the
MOBILE BANKING
The innovation requires one to have a smartphone or a tablet so as to be able to conduct banking
transactions. The innovation involves downloading an application that is designed by the
involved bank. The customer is then required to sign up and the information is linked with the
bank information. The innovation enables individuals to conduct banking transactions at the
comfort of their offices or homes at any time of the day. The innovation enables individuals to
avoid wasting time queuing in banking halls and in automated teller machines so as to withdraw
or deposit cash. The innovation has created conveniences in the banking sector.
The internet
The internet provides connectivity to millions of computers worldwide and enables them to share
information through the use of networks. Internet protocols enable devices to be linked so as to
share resources (Sheng, et al.2013, p.95). The internet offers a great range of resources that can
be used by researchers to come up with many innovations. Mobile banking requires internet
connectivity so as to download the application from play store and other sites offering similar
services. The internet also enables the mobile banking application to share information with the
MOBILE BANKING 3
bank account so as to ensure similar information is provided at all times. Without the internet
connection, mobile banking could not have existed.
Smartphones
Smartphones are advanced mobile phones which offer computing services as they operating
systems and are able to support software applications such as mobile banking applications.
Smartphones are also connected to the application store and this enables mobile banking
customers to download the application and install in smartphones. Smartphones have internet
connectivity which plays a critical role in mobile banking. Smartphones also enable
synchronization of more than one device and this helps mobile banking in that someone one can
use various devices to access the same bank account provided the information match. The
touchscreens are also large enough to enable mobile banking users to read the displayed
information clearly and act accordingly. This helps to avoid mistakes when conducting banking
transactions.
Internet security
The Internet is a wide network that is accessed by all sorts of people who have different
intentions. Internet insecurity may lead to loss of vital information which can be used to access
another person’s bank account details (Roman, et al.2013, p.2274). The threats include malicious
viruses which can attack the mobile banking application and prevent transactions from taking
place. Internet security such as encryption of information and use of unique passwords has
helped mobile banking to gain credibility in offering banking services. Anti-phishing and anti-
spam are some of the technologies which have been used to provide internet security. Internet
security prevents loss of vital information such as passwords which can be used to access funds
from a bank account.
bank account so as to ensure similar information is provided at all times. Without the internet
connection, mobile banking could not have existed.
Smartphones
Smartphones are advanced mobile phones which offer computing services as they operating
systems and are able to support software applications such as mobile banking applications.
Smartphones are also connected to the application store and this enables mobile banking
customers to download the application and install in smartphones. Smartphones have internet
connectivity which plays a critical role in mobile banking. Smartphones also enable
synchronization of more than one device and this helps mobile banking in that someone one can
use various devices to access the same bank account provided the information match. The
touchscreens are also large enough to enable mobile banking users to read the displayed
information clearly and act accordingly. This helps to avoid mistakes when conducting banking
transactions.
Internet security
The Internet is a wide network that is accessed by all sorts of people who have different
intentions. Internet insecurity may lead to loss of vital information which can be used to access
another person’s bank account details (Roman, et al.2013, p.2274). The threats include malicious
viruses which can attack the mobile banking application and prevent transactions from taking
place. Internet security such as encryption of information and use of unique passwords has
helped mobile banking to gain credibility in offering banking services. Anti-phishing and anti-
spam are some of the technologies which have been used to provide internet security. Internet
security prevents loss of vital information such as passwords which can be used to access funds
from a bank account.
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