Are there ways to classify mobile banking services?

Financial institutions turn their attention to banking software solutions to tap the potential of mobile devices in their quest to enhance overall business. In the present scenario, when mobile devices have become a way of life, banks are keener to use this platform to afford suitable services to earn customer appreciation and romp in more customers in the process. Moreover, financial institutions go all out to afford mobile banking services that encompass a great variety to enable easy banking service in the process.

At a time when mobile banking service has become the in thing, customers perform various banking transactions through such services without having to spend extra time and energy to accomplish such tasks. There are various types of mobile services that have been built to cater to specific needs of customers. More importantly, these services can be differentiated as they get classified and fall under specific categories. Are there ways to classify mobile banking services?

While banking software solutions introduces mobile services to customers, the services get classified depending on the type of needs that prompt such services. By taking such needs into account, mobile services from financial institutions can be classified under three important service heads.

Push services

One of the prime head of mobile services gets recognized as push services. This type of service arises out of a financial institution’s need to send specific information to customers by tapping the potential of the mobile device. Moreover, such information that is sent through mobile services are based on specific set of rules, where financial institutions are prompted to send alerts to various customers to announce some important message to customers. The alert could take several forms, as that of check book alert, check bounce alert, and channel alerts among other alerts that get sent to customers.

Pull services

Another significant category pertaining to mobile services rendered by financial institutions allude to pull services. In this type of service, a customer initiates the action where the customer is keen to extract information or service from banks. Pull services encompass a wide variety that includes the need to make balance enquiry, carry out fund transfer, obtain bank statement, and gather information on the past bank transactions among other needs.

Request services

Needless to say, request services happen to be another important category pertaining to mobile services. In this type of service, banks render services to cater to several requests made by customers. Request from customers include various forms, where customers place a request for check books and account statement among other requests.

While banks render mobile banking services to afford convenience banking, the services get classified according to the need that pushes banks to render such mobile services to meet specific customer needs.

California Bank & Trust - Comes with new improvements to CBT mobile banking app

Its really a good news for customers of California Bank and Trust (CB&T)

The news is they have now comes with some good improvements to CBT Mobile banking apps. 

They announced that, the bank's customers who are using personal accounts now can use "Bill Payment" feature from their mobile devices anywhere and anytime.

Also, they have introduced business mobile banking for business account holders.

As a result, it enables CBT personal and business account holders now can securely access the mobile banking services such as deposit, loan, credit card accounts, line-of-credit and more from their mobile devices.

With the use of CBT personal or business banking applications, account holders can able to get access to their business and personal banking account, review transactions, fund transfer, search activity, find bank branches and ATM locations and more activities from their mobile devices.

I am sure California Bank and Trust will get maximum customer adoption and provide good user experience to their banking.

I hope, these enhancements will be the good foundation for customers to have safe and convenient access to their bank accounts. I hope CBT mobile banking customer will enjoy the mobile banking.

Four prime reasons that push banks to provide mobile banking services

Mobile devices have not only defined communications pertaining to this age but have also impacted several other fields in a great way. Banking is an area that has tapped into the potential of mobile devices, where financial institutions take measures to provide unparalleled mobile services to capture the imaginations of customers. Mobile banking services has become the in thing for banks to attract the attention of customers, and with it, create a swell in the customer base.

Financial institutions invest faith on the abilities of mobile banking software providers to introduce novel mobile banking services, which happen to be a surefire way to gain customer’s confidence. There are prime reasons that push financial institutions to go in for these services, which also bring about a great change in the way a bank functions to afford top notch customer services. What are the four prime reasons that drive financial institutions to opt for mobile services?

Defend business

Mobile payments have become the most sought after payment option for online shoppers and others who make payments through online medium. In such a scenario, several sources have come forward to enable easy mobile payment option and these sources encroach on financial institution’s payments business. In order to defend its business, financial institutions go all out to introduce novel measures to afford easy mobile payment facilities for customers and gain ground in this niche. To thwart the challenges posed by non-bank rivals, financial institutions are keen to make use of mobile banking service to increase their payments business.

Generate big revenue

Payments business is one of the significant business areas pertaining to banks, where financial institutions make the most of opportunities to excel in this business. Mobile service is one of the novel ways to enhance payments business, which is also the ideal way to generate big revenue. By increasing mobile payments business, banks are at an advantage to increase their revenues.

Interact with customers

As financial institutions look to adopt effective measures to make banking easy for customers, they are also pushed to establish communication with customers to interact with them. This is the only way to gain customer’s confidence, where banks tend to make use of mobile services to interact with customers and to get closer to them.

Gain competitive edge

As banks look for ways and means to get closer to customers, they bring out novel measures to attract the attention of customers. In this competitive age, mobile services allow banks to gain that much needed competitive edge and to romp in more customers in the process.

There are four prime reasons that push banks to provide mobile banking services, which not only pave the way for convenient banking service but also help banks to enhance their bottom line.

Would mobile banking solutions undergo great changes

With each passing day, financial institutions are introducing novel measures to woo customers and romp in more customers in the process. Customers have gained prominence in this age, as they decide upon when, how and where to make interactions with the bank to carry out all transactions. In their efforts to cater to customer demands, banks come out with ideal mobile banking solutions that capture the imaginations of customers.

While making use of banking software solutions built by reputed banking software companies, banks tend to get closer to customers and allow customers to make the best use of convenient banking service.  As great technological advancements define this present age, banking software companies never miss out on an opportunity to use the most modern technologies to introduce groundbreaking banking software solutions. With financial institutions increasing their mobile banking efforts, significant changes in mobile banking solutions await customers. Would there be great changes to such mobile solutions unveiled by financial institutions?

Younger crowd

There is a shift in the focus offered by financial institutions, where banks are now keen to attract younger customers with relevant banking solutions. This shift in the trend is sure to produce a sea change in the way mobile solutions get built for customers. Mobile apps will rule the roost; as such mobile applications that cater to the younger customers who look for convenient methods to view account balances, conduct transactions, and transfer funds among the banking transactions tend to create ripples in the market. Technologically advanced solutions that would set the trend for novel banking solutions will be lapped up by financial institutions that aspire to make a mark in this niche.

NFC technology

Needless to say, NFC or that of Near-field technology is gaining popularity with each passing day. Financial institutions would be looking to tap the potentials of NFC to build solutions that find the nod of approval from customers. Mobile payments would be made simpler with the introduction of NFC technology, as shopping with Smartphones would also be made easy with the aid of this technology. NFC technology is another major change that is waiting to take the mobile banking world by storm.

Digital wallets

Digital wallets happen to be another mode that is gaining grounds in the mobile banking niche. Primarily digital wallets get used by online merchants for handling online payments, where customers make use of this mode to make payments through Smartphones. This is a mode that can impact the mobile solutions introduced by banks, and this mode will be lapped by financial institutions to make it easy for customers to use online payments.

Mobile banking solutions can undergo great changes, with the trends making a great impact on the solutions built to afford convenient banking for customers.

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.

Are mobile banking solutions providers able allies of financial institutions?

In a fast-paced world, consumers want solutions to all their needs immediately and establishments look for novel measures to cater to the demands of customers immediately and effectively. In an effort to afford convenient banking services to customers, banks have started utilizing mobile banking solutions that allow financial institutions to win the confidence of customers.

As more and more financial institutions have realized the significance of mobile banking services, the need to hire banking software companies has also gone up in the recent past. There are reputed mobile banking solutions providers who cater to the demands of financial institutions, and who bring out result driven solutions in the process. Are mobile banking solutions providers able allies of financial institutions?

Novel customer experience

Needless to say, mobile banking services pave the way for a novel customer experience. When institutions hire the services of banking software companies to find perfect mobile solutions, the institutions are exploring a great possibility to afford enriching customer experience through such solutions. By allowing the customer to perform all banking transactions with ease, banks save customers’ time and afford a rich experience in the process.

Services through mobile channel

Financial institutions derive great benefits when they introduce mobile services, and banks have found a good channel to provide fast and reliable services to customers. The mobile channel happens to be robust channel, and the potentials of this channel have been tapped by the financial institutions through the means of mobile banking solutions. With the aid of this channel, banks are better placed to extend a wide range of services to customers and to enhance its profits margin in the process.

More time for other challenges

Though customer service is the most important aspect that arrests the attention of financial institutions, there are other challenges that deserve the attention of banks. In essence, banks should devote enough time to overcome other challenges, which is made possible when institutions introduce mobile solutions. With such solutions, made possible by the efforts of reputed software companies, banks are placed to afford convenient service and are in a good position to tackle all other challenges that come in several forms.

Reduce costs

As institutions have found a robust channel to introduce various services to get closer to customers, they are better placed to bring down the overall costs involved in offering services to customers. By allowing banks to cut costs, solutions offered by a reputed software company works to the advantage of banks, as the solutions also allow banks to register better productivity and profitability.

By offering customized solutions, and by allowing banks to reap rich rewards, mobile banking solutions providers are held as able allies of financial institutions.