Mobile Banking
Mobile Banking
Mobile Banking
1. INTRODUCTIO
The kind of banking and financial service that gives a real-time mobile
access to customer on the move is called mobile banking the services
being offered through mobile phone.
Mobile banking to the banking activity that are carried out on mobile
(cell) phones that is banking is enabled even while a person is on the
move
message on the mobile phone which travel through the server of the cell
phone service provider to bank’s internet service; information is retrieved
and routed back the same way in 15-30 second. To avail the service, the
client has to fill up form at any of bank’s branches and bank informs the
cellular service provider to activate the module instantly.
It was clear at the start itself that this would be a battle focused not on
technology, but on the mindset of the target audience. Over two years
after the launch of mobile banking services in the country, that bridge has
been reached and many are beginning to walk those cautious steps across
it. Yes, the usage of mobile banking services is increasing, and fast
against dataquest’s estimated user base of under 10,000 for mobile
banking services in 2000, there are over 120,000 today who SMS from
their banking. Even our survey despite targeting a respondent profile that
would bring in more positive answers than negative (see methodology),
threw up very low usage numbers. Also, e-commerce as a medium of
purchasing and transacting has not really caught on, and the basket of
mobile banking offerings is, in itself, very limited. The good news the
technology backbone is in place, and getting better. There’s CDMA,
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there’s GSM. Forget their battles on the mobile telephony front from the
consumer’s point of view; he never had it so good.
The recent price cuts are also likely to help, “say banking experts,
adding that this will lead to “increasing willingness to move on to mobile,
and therefore, to the value-added services that most operators offer
today”
2. OBJECTIVES
Table .1
BENEFITS DESCRIPTION
Developing wireless application and services
Grow new customer targeted at the mobile mass market will allow
base and markets attracting new, high-value customers into mobile
banking portal and expanding the reach to global
markets.
The convenience of having personalized wireless
Increase share of access to critical financial information is an
customer wallet invaluable service for customers on the move
enabling the execution of time-sensitive financial
transaction anywhere, anytime, provides the
opportunity to strengthen the relationships with
existing customers. This ultimately results in an
increased share of the customers’ transactions
preventing them from taking a portion of their
financial business elsewhere.
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The choices are then if one bank should establish alliance with one or
many mobile operator. The theories on the evolution of these types of
alliances show that the most usal beginning is from one to one. However,
the dominant strategy will converge in the long term to a many to many
alliance model.
For large bank the most convenient strategy is to begin with a closed
system; an alliance with one telecommunication company and initially
closed to user outside the combined customer base. This will allow the
alliance to lock in big customers before other players begin to enter the
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Banks with not so large customer base or that do not want to risk
being the first movers in a closed system, would prefer to implement
open system alliance and try to capture a larger market share.
The decision about the most appropriate alliance to chose will depend
on the particular of the bank implementing the mobile services and the
availability of appropriate partners for telecommunication operation.
3. FEATURES
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whereby business and trade takes place through mobile on-line. Those
mobile users who became on line internet users do M – Commerce.
the driving factor to increase saler of high and Mobile phone nevertheless
bank’s need to take a hard and deep look into the mobile usage patterns
among their target customers and enables their mobile service on a
technology with reaches out the majority of their customer.
Besides the lack of resources and expertise, other reasons for outsourcing
are:
Financial institution will not divert from it core business.
You can also pay your utility bills using the bill pay facility all
you to do is instruct us to pay your bills and the amount rates
instantly deducted online from our account.
Essential Requirement
Security Issue
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The security for the use of mobile banking is ensured by the use of
“password”. Password is nothing but the secret code of identification of a
uses. The customer user is given a “login ID” and a “password” on the
registration for internet banking. The login ID and the password need to
be changed by the internet banking registration.
In the case of WAP banking, one should use the same user login ID
and transaction password with which access to the internet banking
service is made. However, your user ID needs to be enabled by the bank
for WAP banking on the basis of the application submitted for the same.
This is essential for availing the WAP banking. In the case of SMS
Banking, the bank will first enable the user ID for SMS facility on the
basis of the
Application for the same. Only then the customer can access the
domain of the banking company.
For the first time, one can choose the SMS password only in the
relevant domain of the bank by accessing through internet. Subsequently
SMS password can be changed through an SMS on the mobile phone
also.however; it is not possible to change the WAP Password separately.
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5. SERVICES
The services that mobile banking can offer are the following:
Credit/debit alert.
banks send out an alert when your account balance goes below a
thousand level.” pull” when the customer explicitly request a service
or information from the bank so a request for your last five transaction
statement is a pull based offering.
The other way to categorize the mobile banking services by the nature
of the service, gives us two kind of services:- Transaction based on
enquiry based so a request for your bank statement is an enquiry based
service and a request for your fund’s transfer to some other account is a
transaction based services transaction based services are also
differentiated from enquiry based services in the sence that they require
additional security across the channel from the mobile phone to the banks
date servers.
request
o Recent transaction
history
DEVICES
Mobile phone and palm pilot are the most important wireless devices.
Even though, there is solution for both type of devices and some banks
use both mechanisms to deliver their service, mobile phone has more
potentially due to its rate of penetration especially countries.
For service providers, mobile banking offers the next surest way to
achieve growth. Countries like Korea where mobile penetration is nearing
saturation mobile banking is helping services provider increase revenue
from the now static sub- scriber base. Also service provider are
increasingly using the complexity of their supported mobile banking
services to attract new customer and retain old ones
Mobile banking with palm handhelds is safe, reliable and secure. All
data between the palm device and royal bank is encrypted, meaning that it
is scrambled into an unreadable format during transmission, preventing
the risk of the data being intercepted by a third party. This is the same
state of the art technology used in online banking.
These features also help ensure the security of mobile banking with
palm handhelds:
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If for some reason your palm handheld shuts itself off with
your banking information displayed, the application will reset
to the sign-on screen.
Online banking will time-out if there is no activity from the
palm handheld. You will then need to sign on again with your
password.
You can lock your palm handheld, so that only your own
secret password can be used to “unlock” it every time it is
used.
Step 1 Go to R World
ICICI BANK
HDFC BANK
BANK OF BARODA
DENA BANK
HSBC BANK
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YES BANK
Mobile banking works through a set of text messages. All you need
to do is to type in the specified code for the transaction as a text
message and send it to a pre – designated number. You will receive
the response in the form of a text message on your mobile phone
screen within a few seconds.
If you are opening an account with the bank, you can apply for
mobile banking through the account opening document. If you
already have an account with the bank, you can apply for mobile
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ICICI BANK Mobile banking can be divided into two broad categories:
Request Facility
Alert Facility
REQUEST FACILITY:
ICICI BANK mobile banking requests enable to query for account
information or perform bank transactions. You can query for your
account balance, request for the last 3 transactions. Order for new cheque
book, inquire for a cheque status, issue a stop cheque request, change of
primary account and make payment for your bill under this facility.
If you hold an ICICI BANK HPCL Debit Card, you can also query your
debit card reward points by just sending a SMS request.
ALERT FACILITY:
Under ICICI BANK mobile banking alert, you get alerted when the
events you have subscribed for get triggered. You can subscribed for
receiving SMS alert when your salary gets credited, when your bank
account is debited / credited with Rs.5000/- or more as specified by you,
your balance falls below / goes above a specified limit or when a cheque
bounces.
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Under the alert facility, you will get alert only when the events you have
subscribed for information as and when you desire.
ICICI BANK mobile banking services for credit card can be divided into
two board categories:
REQUEST FACILITY
ALERT FACILITY
The request facility enables you to check your credit card balance,
fetch reward points for redemption, view details of last payment, and get
payment due date.
View bill: Selecting this option and entering the biller name
will display the presented bills only of that presentment mode
biller.clicking on “OK” without entering name will display all
presented bills.
Pay present bill: To pay the bill presented, first the account to
be debited has to be selected. Biller name has to be entered. The bill
will be paid instantly.
Find ATM / Find branch: Pin code of the desired area has to
be entered to get the nearest ATM / Branch. for eg :- if you wish to
find an ICICI Bank ATM in andheri, Mumbai, you would have to
select Find ATM & enter the pin code of andheri i.e 400058
Get quote: You have to provide the ICICI direct stock code to
get the details. (This facility is available to customer who has
registered for this facility with ICICI direct.)
About : This option gives you the basic information about the
service as under
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I want to compare the ICICI BANK with other leading bank for
example: - HDFC, HSBC etc. HDFC was the first bank to start a mobile
banking in India for example: - RIM has included ICICI BANK along
with HDFC bank for mobile banking through R- WORLD. Since I have
an HDFC BANK a/c, I registered for this service with HDFC BANK and
can check my account details and carry out select transaction using R-
WORLD. However, much to my surprise there seems to be no
password/PIN security for accessing to my bank account! That means
whoever has even brief access to my mobile has access to my bank
account! So if it ever stolen. Or even in cases to the account and could
even carry out transaction!!!
It’s really surprising that they have overlooked this very important
security loophole!
Is this the same for people who have registered with ICICI?
Credit Card Alerts – Approaching credit limit and due date of payment
of credit card bill.
can receive latest information about your bank. Credit Card and
Accounts.
Alerts are sent to your mobile phone number as registered by you with
the bank.
» All ICICI Bank customers having savings bank account, credit card
(not being an add on card) and demat account can avail of this
facility. As and when alerts are introduced for other ICICI Bank
products, we shall intimate you through our websit.
2. Your credit card spending reaches the limited set for your credit
Demat Alerts
» Depending on the type of alerts selected, you will receive the alert(s)
As and when the particular event happens. However, in case of
approaching credit limit, the alert is sent at the end of the day.
»You can subscribe to ICICI Bank mobile banking by any one of the
following means:
Login to www.icicibank.com and go to banking section for banking alerts
and credit card section for credit card alerts.
Call up our 24 hours customer care centre and request for subscription for
bank alerts, credit card alerts and demat alerts. Our customer care centre
representatives will take you through the identification process and
subscribe you to ICICI Bank mobile banking.
»For mobile alerts, you also need to have a mobile phone with a
connection on which these SMS alerts can be sent to you.
In case your mobile phone service provider does not support SMS
facility, this facility may not be available for you. Kindly contact your
mobile phone service provider to enable SMS facility
receive mobile alerts. Kindly note that the CDMA mobile phone
service provider should have activated SMS facility for you to
avail this facility.
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alert tone set by you will indicate that a new message has arrived.
» For banking alerts and credit card alerts you may simply login to
facility?
» For any further queries on ICICI Bank alert facility, you may call
» It is designed to meet the needs of mobile users who want the ease
Balance inquiry
User can view his balance using this option.
Last three transactions
User can select this option to view the last three transactions.
Cheque status inquiry
User can view the status of cheque issued by him/her.
Stop cheque request
User can use this option to stop payment of a cheque issued by
him/her
Change of primary account
User can use this option to change the primary account. Primary
account is the main account of the user on which he wishes to
carry out mobile banking transactions.
Cheque book request
User uses this option for requesting for a cheque book. Only one
such request will be accepted at a time. Subsequent request can
be accepted only when previews request have been fulfilled.
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» User can attend to call. After the call is completed user can start
» Yes the data pertaining to the last option gets saved on the
handset. This data can be accessed using “History” option.
» No
Is there a password?
Definitions:
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“Account” mean Bank account &/or credit card account &/or any other
type of account so maintained by the customer with ICICI Bank or any of
its affiliate for which the facility is being offered or may be offered in
future (each an “Account” and collectively “Account”)
Circle, vadodara 390 007 and corporate office at ICICI Bank towers,
bandra kurla complex, Mumbai 400 051.
between the Customers and ICICI Bank, and shall be further subject to
such terms as ICICI Bank may agree with the other service providers.
These terms and conditions shall be in addition to and not in derogation
of the terms and conditions governing ICICI Bank Phone banking, ICICI
Bank Internet banking and relating to any account of the Customer and /
or any other product/services provided by ICICI Bank and its Affiliates.
APPLICATION
The Customer shall apply to ICICI Bank for use of the Facility
(and/or for any changes to the option available under the Facility) by use
of ICICI Bank phone banking or ICICI Bank internet banking services or
by any other method as provided by ICICI Bank from time to time
including application through forms as prescribed by ICICI Bank from
time to time for use of the Facility.
ELIGIBLE CUSTOMERS
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ICICI Bank shall endeavor to the Customer through the facility, such
services as ICICI Bank may decide from time to time. ICICI Bank
reserves the right to decide what services may be offered to a Customer
on each Account and such offers may differ from Customer to customer.
ICICI Bank May also make addition / deletion to the services offered
through the Facility at its sole discretion. Only those Account opened
with the Affiliates of ICICI Bank and attached to the respective
Customer’s ID will be accessible through the Facility.
RECORDS
INSTRUCTIONS
All instruction for availing the services under the Facility shall be
provided through the Mobile Phone Number in the manner indicated by
ICICI Bank. The Customers is also responsible for the accuracy and
authenticity of the instruction provided to ICICI Bank and the same shall
be considered to be sufficient for availing of the services under the
Facility.
Where ICICI Bank considers the instruction to be inconsistent or
contradictory it may seek clarification from the Customers before acting
on any instruction of the Customers or act upon any such instruction as it
may deem fit. The Customers and ICICI Bank shall have the right to
suspend the services under the Facility if ICICI Bank has reason to
believe that the Customer’s instruction may lead to direct or indirect loss
or may require an indemnity from the Customers before continuing to
operate the Facility.
While ICICI Bank and its Affiliates will take all reasonable steps to
ensure the accuracy of the information supplied to the Customer, ICICI
Bank and its Affiliates shall not be liable for any inadvertent error, which
results in the providing of inaccurate information. The Customer shall
hold ICICI Bank harmless against any loss, damages etc. that may
incurred / suffered by the customer if the information supplied to the
Customer turns out be inaccurate / incorrect.
DISCLAIMER OF LIABILITY
ICICI Bank shall not be responsible for any failure on the part of the
Customer to utilize the Facility due to the Customer not being within the
geographical range within which the Facility is offered; If the Customer
has reason to believe that his mobile phone number is / has been allotted
to another person and / or there has been an unauthorized transaction in
his account ICICI and / or his mobile phone is lost, he shall immediately
inform ICICI Bank under acknowledgment about the same.
The Customer agrees that ICICI Bank shall not be liable if
(a) The Customer has breached any of the terms and condition herein
or
(b) The Customer has contributed to or the loss is a result of failure on
part of the Customer to advise ICICI Bank within a reasonable
time about unauthorized access of or erroneous transaction in the
Account; or
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The customer agrees that the access of the Facility shall be only
through the Mobile Phone Number and the Customer or not, shall be
deemed to have originated from the customer. Under no Circumstance,
ICICI Bank shall be held liable if the Facility is not available for reasons
including but not limited to natural calamities, legal restraints, faults in
the telecomm nation network or natural failure, or any other reason
beyond the control of ICICI Bank. ICICI Bank shall not be liable under
any circumstance for any damages whatsoever Whether such damages are
direct , indirect, incidental consequential and irrespective of whether any
claim is based on loss of revenue, interruption of business or any loss of
any character or nature whatsoever and Whether sustained by the
Customer or by any other person. Illegal or improper use of the Facility
shall render the Customer liable for payment of financial charges as
decided by ICICI Bank or will result in suspension of the Facility to the
Customer. ICICI Bank is in no way liable for any error or omission in the
services provided by any cellular or any third party services provider
(whether appointed by ICICI Bank in that behalf or otherwise) to the
Customer, Which may effect the Facility.
The Customer agrees that ICICI Bank and / or its Affiliates may hold
and process his personal information concerning his Accounts on
computer or otherwise in connection with the Facility as well as for
analysis, credit scoring and marketing. The Customer also agrees ICICI
Bank may disclose, in strict confidence, to other institution, such
information as may be reasonably necessary for reasons inclusive of but
not limited to the participation in any telecommunication or electronic
clearing network, in compliance with legal directive, for credit rating by
recognized credit rating by recognized credit scoring agencies, and for
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directive, for credit rating by recognized credit scoring agencies, and for
fraud prevention.
INDEMNITY
The Customer hold ICICI BANK/ its Affiliates harmless against any
loss incurred by the Customer due to failure to provide the services
offered under the Facility or any delay in providing the services due to
any failure or discrepancy in the network of the cellular service provider.
FEES
ICICI BANK shall have the discretion to charge such fees as it may
deem fit from time to time and may at its sole discretion, revise the fees
for use of any or all of the Facility, by notice to the customers. The
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MODIFICATION
TERMINATION
The Customer may request for termination of the Facility any time
by giving a written notice of at least 15 days to ICICI BANK. He
Customer will remain responsible for any transaction made through his
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mobile phone number through the facility prior to the of such cancellation
of facility ICICI BANK may, at its discretion, withdraw temporarily or
terminate the facility, either wholly or in part, at any time without giving
prior notice to the Customer. ICICI BANK may, without prior notice,
suspend the facility at any time during which any maintenance work or
repair is required to be carried out or in case of any emergency or for
Security reasons, which require the suspension of the Facility.ICICI
BANK, shall endeavor to give a reasonable notice for withdrawal or
termination of the Facility. The closure of all Account of the Customer
will automatically terminate the facility.ICICI BANK may suspend or
terminate facility without prior notice if the Customer has breached these
terms and conditions or ICICI BANK learns of the death, bankruptcy or
lack of legal capacity of the customer.
NOTICES
ICICI BANK and the customer may give notice under these terms
and condition electronically to the mailbox of the Customer (which will
be regarded as being in writing) or in writing by delivering them by hand
or sending them by post to the last address given by the Customer and in
to ICICI BANK at its office at 3rd floor, south tower, ICICI BANK
towers, bandra kurla complex, Mumbai 400 051. In addition, ICICI bank
shall also provide notice of general nature regarding the facility and terms
and conditions, which are application to all customers of the Facility, on
its website and/ or also by means the customized messages sent to the
Customer over his mobile phone as short messaging service
(“SMS”).such notice will be deemed to have been served individually to
each Customer.
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GOVERNING LAW
Applicability:
Definition:
In these terms and Conditions, the following terms shall have the
following meanings:
APPLICABILITY
PROCESS
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To receive alerts, the customer may select and set or any of the
triggers through ICICI phone banking services or by logging into the
internet banking account or by submitting an application in the prescribed
format as application or by any other mode as notified by ICICI Bank
from time to time. The customer shall be required to acquaint himself
with the detailed process for using mobile alerts and ICICI Bank shall not
be responsible for any error made by the customer while setting the
triggers.
Any customer availing the facility will be provided with alert facility
and/or request facility as may be decided by ICICI Bank from time to
time.
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ICICI Bank may, in its discretion, not give effect to any trigger if
ICICI bank has reason to believe (which decision of ICICI bank shall be
binding on the customer) that the trigger are not genuine or otherwise
improper or unclear or raise a doubt or in case any trigger cannot be put
into effect for any reasons whatsoever.
the time an alert message is sent by ICICI Bank, that particular message
may not be received by the customer.
FEES
ICICI Bank reserves the right to the alert facility and revises such
charges and such updates in charges shall be intimated to the customer
through alerts/display on the website depending upon the discretion of
ICICI Bank.
When reliance infocomm, India rolled out its CDMA network (at the
time the mobile market in India was still in its infancy, and data services
were almost never heard off) it made sure that all handsets supported
java. The reliance application platform, also known as R- world brought
java compatibility even to the lower end phones.
From mid 2004 reliance tied up with two of the popular private
sector banks HDFC and ICICI to provide a host of their enquiry and
transaction based mobile banking services through its R-world
environment.
CONCLUSION
account in the bank. I hope anybody who will go through this project
would be convinced and satisfied with the work.