Four channels of Mobile banking services

As financial institutions are tapping the potentials of mobile devices to reach more customers, mobile banking services have assumed greater significance in the recent past. There is a great shift in the trend, where customers are making use of their mobile devices to make use of the anywhere, anytime service unveiled by banks. With such mobile banking solutions, banks are in a better position to offer an extensive service range that makes it easy for customers to perform banking transactions.

By seeking the services rendered by banking software companies, banks are well placed to introduce novel mobile banking services. Most importantly, these services get deployed on one of the four channels that get used for this purpose. The channels get recognized as the SMS, IVR, WAP and Standalone Mobile Application Clients.

IVR

The IVR or the Interactive Voice Response is one of the channels on which mobile banking solutions get deployed. This service gets operated by way of pre-specified numbers that the financial institutions promote amid their customers. In this operation, stored electronic message greets a customer where a menu comprising of many options can be put to use by the customer. The Interactive Voice Response Service comes with some limitations and is also a costly option when compared to the other channels.

SMS

While banks seek the services of banking software companies to build ideal solutions, SMS is one of the preferred channels on which the service gets deployed. In this type of service, SMS gets used for providing mobile application based banking. Customers are able to get information about the account balance details through this service, and SMS gets used by financial institutions to offer enquiry based banking services. SMS, as of now, is not considered to be a popular platform for transaction based services.

WAP

The Wireless Access Protocol utilizes a concept that is akin to the one utilized in Internet banking. In this case, WAP sites are maintained by banks, where customers make use of WAP compatible browser to access such sites, with the help of mobile phones. With this type of service, banks are in a better position to afford secured and reliable services to customers. There is also the possibility of accessing transaction and enquiry based services as well as complex transactions that take the form of trading pertaining to securities.

Standalone Mobile Application

Standalone Mobile Applications are held as the best option for providing complex banking transactions. In this case, mobile applications clients ought to get downloaded on that of the device pertaining to the customer. Moreover, applications get customized to suit the mobile phone on which its gets operated.

By offering mobile banking services on four major platforms, banks aim to make it easy for the customer to conduct their banking transactions.

Banking software companies and their Vision and Mission

In their efforts to introduce mobile banking services, financial institutions take measures to find reputed banking software companies that have carved a niche in this field. Software companies that build effective solutions are well equipped with the needed resources, as the companies adopt result-driven practices to afford ideal solutions to banks. The experienced professionals at the reputed banking software companies understand the real needs of banks, as they bring out mobile banking solutions that meet the real needs of clients.

It is the vision and mission of the reputed banking software companies that drive the companies to accomplish desired results. With the prime objective to afford customized solutions to financial institutions, software companies go the extra mile to bring out effective solutions that provide suitable answers to banks. How does the vision and mission of such companies push the companies to deliver fruitful results?

Empower clients

The prime factor that drives the software companies to build effective solutions is their objective to empower financial institutions with innovative business solutions. By affording robust mobile banking solutions, such reputed companies allow the banks to gain competitive advantage, and afford unparalleled services to customers in the process. Moreover, with such spotless services, banks are better placed to win the confidence of customers. Financial institutions are also in a position to introduce a range of services through this solution, which allow banks to romp in more customers and improve its profit on the whole.

Successful implementation

Apart from building robust solutions that fuel the growth of banks, the reputed company is keen to implement the solution in a successful way. The software establishment goes all out to ensure successful implementation of such solutions, which works in favor of the financial institutions.

Deliver client success

The reputed company that paves the way for effective solutions is also a company that strives to deliver client success. In order to deliver client success, the software organization brings its expertise to the fore to build effective solutions that fuel client’s growth and success. Most importantly, the company that has earned a reputation for building robust software delivers innovative solutions that bring fruitful results for financial institutions.

Protect client’s investment

Most importantly, the reputed company is driven to provide more value for the client’s investment, and the establishment never fails to bring out customized solutions that provide great value for the client’s investment. The reputed company adopts effective strategies to protect client’s investment, and pave the way for long lasting solutions that enhance the bottom line of financial institutions.

The vision and mission of the banking software companies drive the companies to adopt effective strategies to build best solutions for clients, and to protect client’s investment in the process.