Increasing accessibility to banking is considered one of the key determinants in improving living standards around the world. The boom in mobile technology over the last 20 years has begun to open boarders for governments and the banking sector alike, with benefits extending far beyond day-to-day deposits and withdrawal transactions.
Access to banking in the first world is a privilege often taken for granted. The shift from physical banking, commonplace only a decade ago, to digital transactions has been monumental. However, in developing and third world countries throughout Africa, Asia, and the Middle East, the banking revolution has been slow until recently.
The Mobile Phone – Opening Doors to the Unbanked World
The mobile revolution has created two distinct avenues for mobile banking and micro finance institutions (MFIs). The principle that mobile phones can enable greater reach to more customers in hard-to-reach locations and at lower costs is at the key to expansion within these sectors. The two occupy different market spaces and utilize different technologies. MFI’s are naturally credit-based with some savings transactions, while m-banking is payments-focused and more transnational banking. M-banking systems employ sophisticated back-end systems while the MFI sector uses relatively uncomplicated back-ends to drive the platform.
Driving Growth with MFIs
Banking is a fundamental instrument of control for governments. Money in the bank is taxable and controllable, while cash is the driver of the black economy. M-banking is a tool that governments want to see succeed, however MFIs can also add similar stimulus to an economy. Finance enables businesses to grow, but small business finance throughout the developing world is not easily accessible or easily administered. Mobile technology has enabled MFIs to broaden the reach of small business finance in a simple way that enables credit approval, loans, and repayments through one easy channel.
Today the mobile phone serves as the agent for loan applications, credit decision making, and due diligence. Customers benefit from simplicity, as their only choice is the proximity of the nearest agent versus the proximity of the nearest branch. For example, the success of this model has been observed in Pakistan, where an NGO MFI serving in excess of 300,000 customers began using Omni agents in 2011 as an option to make loan repayments. At the point of the study, 40% of loan repayments were made through a network of 1,800 Omni agents. Customer choice between repayment options typically depended on what was closer, the Omni agent or the branch.
China Fintech Leads the World in Mobile Transactions
China has become the world’s hotbed for financial technology almost overnight. China has emerged from a cash society to the world’s largest digital payments market in a surprisingly short period of time. Today, 65% of China’s mobile users use their phones as mobile wallets. That is almost half a billion people purchasing products at retail outlets with simple QR scanning or shopping online. Ecommerce platforms now approve credit on small purchases through mobile transaction history and the explosion of mobile transactions is considered the model by which the rest of the world can follow.
Mobile phones have changed the ability for finance to be accessed and, just as importantly, repaid.
The future is definitely in microfinances. Very well explained. Thumbs up!
This is really informative and beneficial to all . Thanks for sharing!
It has been three years since I paid my bills last time in my local bank. Since 2014 I am using mobile banking on my android smartphone with no problem.
Yes. I’m totally agree. I’ve been working in Qatar which we can say that it’s pretty new country and I can say more than 50% of the people are using mobiles for paying bills, banking e tc… If it’s keep going like this one day I think we will need just a mobile and nothing else. No wallet, no credit cards, no keys 🙂
Yeah, nowadays mobile phones are involved to finance sector. But I though China is not a big customer in this sector. But from your article now I know China also a big customer in this field. Thank you for your article.
Great piece of writing which actually explains how a simple mobile device holds a power to control whole economy of a country.Mobile banking is in-fact the driving force of modern banks.Hence the whole economy.
Smartphones with Finance and Banking is have so much helping us. I think this post very helping for us. Thank you for share it.
Really interesting information about trendings in mobile transactions around the world. It’s becoming more and more important subject
Really nice news and very infromative blog! I like it…awesome
Wow! Really great articles about Smartphones Have Changed the World of Finance and Banking. I am very much impressed after read this articles. It is an informative to all of smartphone user peoples. So, thanks a lot.
Nice to know there will be alternatives to bitcoin that are reliable and at the same time private.
The mobile revolution has created two distinct avenues for mobile banking and micro finance institutions (MFIs).Access to banking in the first world is a privilege often taken for granted.
Very nice Post. Thank you share it.
In this report there is a fine introduction of Smart Phones and their importance in our lives that how it is influences our daily routine work and also this report contains the role of E-Commerce and Web 2.0 in the trade of amazon.com and eBay.com. Firstly there is overview of Smart Phones is given then how it is influences our daily routine and then there are some descriptions of software’s which are being used in Smart Phones and also some of Smart Phones manufacturers names.
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Such a great article. really mobile smartphones changed the way of world finance banking. Mobile phones have changed the ability for finance to be accessed and, just as importantly, repaid.
I really agree with this article.Smartphones Have Changed the World of Finance and Banking and it’s really true. I know more knowledge from this article.Thank you very much.
The article exhibits an in depth analysis of the impact smart phones exert on banking and finance.
Yes really smartphones have changed the way we look at world today. They have made consumers life easier and played a huge role in the world of finance and banking. Good article. Enjoyed reading it. Thanks!
This article has great lot of valuable information.It helps me knowing many things which I have not known before.Thank you
I agree with you , now a days smart phone a great impact in world market . It make a revolutionary change in finance & banking .
This is a really great article about how the smartphones has changed the world finance banking. It is really helpful to know this. Thank you for sharing it 😉 🙂
Yes the smart phone change the world of Finance and Banking. Now one earn money by mobile. And its easy. And mobile banking is so easy than other. I think you are right.
So much useful article. In this article have many information. Thanks.
It is a very useful article. I recommend this article to everyone related to finance and banking sector. Indeed, the smartphones have helped flourish the internal system of financial organizations.
this is good cuz 70% of the people around world using phones to acces in the internet.
Smartphones are the need of the hour and it has become very easy to get settled in financial situation by using a smartphone. Great article.
yes, i am totally agreed with you. Not only finance and banking But also it changed our lifestyle also.
It’s very important topic.If we look back in the past that it was difficult to progress the world economy via finance-banking.But nowadays we use our smartphone not only for entertainment method but also for our precise needs
I agree with you. Banking will not be the same in the future. Very interesting article!
Thank you for sharing your knowledge, I read your article and think you are right, smartphones have indeed revolutionized the world of finance and banks.
An amazing change of communication has been done by the smartphones. The article is really correct and beautifully written. The smartphones are becoming the technology stuff in the present world.
Yes. I totally agree with this. Smartphones change everything in this world. I think it’s gonna be very soon when we gonna use our smartphone to do everything: paying in markets, unlocking the doors, start the car e tc.
This video contains a useful information regarding mobile banking. The contents of this facility ensure the very effective mobile banking procedures.
This blog is the one of best blog I have ever seen before. I liked it. Awesome..
Using phone as wallet is the most comfortable way for payments nowadays, and also using peer2peer option for rapid transactions.
I like Sharone Perlstein all the time and your all article is very relevant to reality. Actually Smartphones Have Changed the World because everybody is now depend on smartphone and this is now on of the great issue.
hello ,Sharone Perlstein.
Thanks for sharing Information about Mobile Banking and MF(microfinance). i think mobile technology is very familier to us now in 21 century because now we can do banking work also from it like fund transfer, pay bill’s, credit card payment etc.
Really it make’s my life easy.
Amazing information on mobile banking and finance. Quite easy to catch-up. Great job. Keep it up.
Seriously, Mobile banking has changed the life. In the past it was not easy to send a big ammount from here & there but now it’s just a work of seacond. It’s easy to get money & withdraw. One of the biggest helpfull invention of science. Thanks for giving us the chance to know more about mobile banking
Few people appreciate things that are truly beautiful anymore. Amazing infos… thats all I can say
I’m no smartphonatic. But I live with a few and have seen much of this behavior firsthand. There is no turning back the clock on technology. Anyway thanks for sharing.
This such an interesting article that I am gonna share it with all of my friends.I love it, good job!
Very interesting read. I totally agree with your opinion.
YES I AGREE IT. I HAVE GOT GREAT EXPERIENCE OF WORLD OF BANKING THROUGH MICROPHONES. MOBILEPHONE HAVE CHANGED ABILITY OF FINANCE TO BE ACCESSED.
This is so correct. Nowadays we use mobile phones for everything and banking is just cherry on top of the cake. It is easier and sometimes you can avoid charges for example f you want to pay monthly bills my bank offers me 6 bills per month without commission which i would have to pay if I go bank/post office. It is not surprising that China has become the world’s hotbed for financial technology almost overnight.
Smartphones have greatly changed the financial ecosystem of the world. Transactions are increasingly being carried out through mobile phones.
Very interesting article, I just know that M-banking is very easy and for me very useful and also fun in a way. The good thing is that you can do everything on your phone, you don’t need to go directly to your bank.
It is true. In nowadays modern society, we do not even need to go to bank but do everything via our mobile phones. I suppose we won’t be needing actual banks anymore.
China has become the world’s hotbed for financial technology.65% of China’s mobile users use their phones as mobile wallets.
I agree with this article because smartphones really changed the world of banking. Now days, everyone uses their smartphones not only to communicate with others, but even for banking.
It is true. Mobilephone have changed ability of finance to be accessed.
Portable keeping money is normally accessible on a 24-hour premise. Some monetary organizations have limitations on which records might be gotten to through portable managing an account, and in addition an utmost on the sum that can be executed.
This is great Post and tips is helpful too. Thanks for sharing.
Today mobile banking is key of success for economic and financial development for any country because its a electric money which is easily monitor-able by government as a result no black money can destroy country and crime goes down which result is develop country.
Mobile phones have certainly enabled a greater reach to more customers.In modern world use of mobile technology is a must,if they want to be competitive in the market.Esp for modern banks and micro finance institutions,it help in generating significant revenues while reducing the cost of operation.
this is a really interesting article .. and highly informative one too … mobile phones are no less than a laptop now a days and with proper applications and uses access to any information is just a click away !!
It is very informative slideshow about microfinance.
Absolutely correct.Mobile APP’s made our life a lot easier.
China has become the world’s hotbed for financial technology.65% of China’s mobile users use their phones as mobile wallets.
This article was great! I learned a lot new things and definitely recommend checking it out.
Yes, It is true that smart phones are changing the future all nations. Very informative article. I appreciate that.
Smartphones are impacting day-to-day life making life very easier. Mobile banking is growing. With just some few clicks you’re done.
Yes, indeed, mobile phones changed the world of finance. This is good point of view.
smartphones have changed the way business works across the world, definitely.Tablets too, make working remotely possible and ‘on the go’ whenever you need to access anything too. Thanks for your great post.
Your article is true. There is a big change in the world due to the high technologies being invented and being introduced.
This article very helpful and I know about the smartpphone Finance and Banking on read the post.I believe that’s smartphone charge the micro financial systems.
Nowadays everybody is doing online banking. I have not made a single step in a local post or a bank for years now. Doing all money transactions from the comfort of my couch is really revolutionary. I consider my time very precious and not waiting in line in order to pay a single bill is life saving. Great article, spot on!
Interesting and insightful article on MFI’s and cell phones. Thank you.
Love this article. Yes smart phones have change the way people do a lot of things. The technology is even making it’s way into smaller countries.
Somehow i don’t know but i agree to this article. smartphone or mobile phone are changing the way about world finance banking in e-commerce platform, website banking and etc.
Wow, so amazing how far technology has come along. It is so easy to shop and pay for things these days. Generations below me do not even know what a check is.
Yes, the smartphone revolution is presenting new challenges as well as updated delivery channels for access to financial data.
Very interesting and useful post! I really like it!
The world is moving slowly towards mobile computing and cloud mobile phones, mobile phones enables greater reach to more customers in hard-to-reach locations and at lower costs in less time
I agree with this article. Definitely banks transactions are now easily accessed through phones, computers and all other new communication technologies. This advancement made our life easier. I remember when I was going to the bank waiting my turn for 1 hour just to make a simple transaction.
I am glad that I read this article because I was able to soak in much information about how mobile banking is so widely used now days.
I prefer completing all my bank transactions by mobile, it is faster and cheaper and saves me some time
Smartphones have made everything easier, even banking. It’s amazing when you think about it.
The development of technology, especially for “Smartphone” has made many people feel eased in doing a business, whether it is used in a real business or an online business. But I feel more comfortable using a Laptop to do financial transactions especially when it is related to online shopping. Because before doing a transaction, I would want to explore first to get the information I want on a particular product. And I feel more comfortable using a large screen display on a laptop when compared to a Smartphone.
Yes! smartphones are change world finance and banking. In your article you present it very beautifully.
Yes I agreed with you. Smartphones changed world finance and banking systems.
We must not go so far without smart technology.
Yes I totally agree. Smartphone has changed everything in our society finance, banking and so on. Thanks for the great article.
yeah, nowadays Smartphone involving to business side.So smartphones are changing the world of Finance and Banking.Great article.
Smart phones have really changed the world of banking, the cheaper cost of baking with the smart phone has been a relief to many.
With havin so much content and articles do you ever
run into any issues of plagorism or copyright violation? My blog has a lot
of exclusive content I’ve either written myself or outsourced but it seems
a lot of it is popping it up all over the internet without my authorization. Do you know any
ways to help stop content from being stolen? I’d
genuinely appreciate it.
yes really smart phone have change banking and finance experience.
nice article and like it because it’s good information provider article.
this is really good article about smartphones and change in the finance and Banking. i like the article.
Amazing Article
The last paragraph made me think twice, I mean, I know China is a developed country but these stats are just.. More than 65% of those guys these are using phones as mobile wallets.. just WoW!
You’re absolutely right, maybe we never figure out the reach that smartphones would have … and what’s left to go
one of the best article related to mobile banking how it made everything easier.How transactions can me made in just few seconds
MOBILEPHONE HAVE CHANGED ABILITY OF FINANCE TO BE ACCESSED.I HAVE GOT GREAT EXPERIENCE OF WORLD OF BANKING THROUGH MICROPHONES.I learned a lot new things and definitely recommend checking it out.
Helpful post for the people from accounting background. Thanks for sharing detailed analysis. It helped me a lot.
Oh yea I also agree with you ,technology has developed so fast and make the world so easy. I do banking with my smartphone without moving from one place to another .and thanks for this great article ,I have really learnt a lot .
Very Informative Video About Technology and such.I Really Like the presentation that is used in the video! Thanks For Sharing!
wow really useful and interesting article. now a days mobile phones are essential thinks for humans. The smartphones changed the way of Banking. Thanks and appreciate for this nice article.
I have been surfing onlie more than 3 hours today, yet I never found
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I love it, good job! best article i have ever seen about this topic.
Hi there, I log on to your new stuff like every week.
Your story-telling style is awesome, keep it up!
This information is nice and is worth sharing among public as mobile banking is our future and it is one of the easiest way according to me. Good info and such articles should be shared to make people more awake about this.
nice post
Como Gelar A Cerveja Rápido
Prestem atenção nessa orientação, pois eu testei ela num churrasco esase termo de semana, e também
fiquei muitoo feliz! Aliás, umm congratulação especial
ao Guiga ( @filhodopadeiro ) do Tuddo Sobre Facebook ,
quue me passou esse conhecimento milenar!
A medida de cada um desses ingredientes dependerá da quantidade de cerveja
que se pretende gelar. Mas geralmente, seria um saco de gelo,
um litro de chuva, um l de álcool e meio quilo
de sal. Após colocar todos os ingredientes
num recipiente, basta acomodar as latas/garrafas de cerveja e também esperar por vinda de 3
minutos. Você poderá proporcionalizar essas medidas conforme
a quantidade de cerveja que pretende gelar.
sal sse dissolve facilmente na água e reduz seu ponto de frigoríficação.
Pura, a chuva congela a respeito de 0 ºC.
Já a chuva com sal precisa de uma temperatura menor, que
pode chegar a dezenas de graus abaixo de zero.
Quando sal é posto no gelo, parte dos cubos derretem, roubando” calor durante a troca de estado
físico e também esfriando a mistura como um todo.
Outrossim, sal dissolvido provoca uma reação endotérmica,
ou melhor, reduz majs a temperatura da mistura.
álcool possui um papel semelhante: derrete gelo roubando” calor e
também diminui ainda mais sinal de congelamento.
É empregado porque quando a temperatura ficar abaixo de -9 ºC, sal perde algo do
efeito, porém álcool não.
De olho no relógio: alumínio é bom condutor de calor, e 3 minutos são suficientes
para as latinhas mergulhadas encontrem estabilidade térmico.
Como a temperatura fica aquém zero, posteriormente número reduxido
de minutos, a grito vaai estar tão gelada que não vai entregar para sentir sabor e também periga enregelar.
Deixe toalha de papel chupar muito a chuva, e também após, ligeiro
as cervejas para geladeira. A água no papel vai gelificar velozmente,
formando uma estrato de gelo que esfria a bebida.
Pista: tomem zelo, porque dependeneo do freezer a cerveja é possível que gelar numa rapidez absurda, deixando sua cerveja
congelada, que não é legal. Mini Refrigeradoss USB Mas um gadget alcoólico para você não
perder a chance de tomar uma cervejionha geladésima no recreio do
seu trabalho. Há nem tinha visto… a do nitrogênio é
a melhor (moleza de achar) hahahhahahha óptimo.
adicionei aos favoritos…. E que pergunta acolá em cima
do Leandro. Não funciona com outras bebidas não, só cerveja que gela, ass outras se colocar
esquenta! http://cervejeiromestre.com.br/chopp/
Interesting how small scale finance yeilds better repayments. Has everything to do with culture being so uniform. I imagine large scale finance would do just as well if everyone had something to call a foundation. This leads us to bigger questions and a Whole constellation of reasons why things are so malmanaged, in the U.S. in particular.
Oh yea I also agree with you ,technology has developed so fast and make the world so easy. I do banking with my smartphone without moving from one place to another .and thanks for this great article ,I have really learnt a lot . Nowadays technology are really fast growing. many new apps are launching day to day where people can do all their banking work from their smart phone which really saves time. So its a good benefits for all the human being of this century.
This information is nice and is worth sharing among public as mobile banking is our future and it is one of the easiest way according to me. Good info and such articles should be shared to make people more awake about this.
Helpful Information. Its True Smartphones change world finance/banking. Low cost of baking & Finance with the mobile has been a relief to many.
Helpful Information. Its True smartphones changes the world finance/banking. Low cost of banking & Finance with mobile phone & Many Facilities.
I’m totally agree with your article. Smartphone made a major impact on finance and banking. Thanks for sharing a nice article.
Thanks for sharing, yes it is no doubt that smartphone makes banking transaction more and more easy and convenience.
Smartphones with Finance and Banking is have so much helping us. I think this post very helping for us. Thank you for share it.
Commentthe new technologies have revolutionized all sectors, but mainly the banking world has really had great boom in this sector, making life easier for its users.
interesting information…i will definitely follow your suggestions…very eye opening article actually.
Com a devida vénia, reproduzimos cá a carta que FP escreveu ao JA e também que foi publicada esta quarta-feira pelo oficioso matutino.
é rabi em pulos, proponho que, para festejar nosso combinação de amizade,
me dê um curso de pulos, para eu ficar tão puladora como Uma
boa opção é aceder sítio da Internet da Associação Brasileira de Instrução a Distância ( ) que disponibiliza informações sobre essa novidade forma
de aprendizagem, agenda de eventos, biblioteca virtual sobre educação
à distância e um catálogo de cursos. http://cansuyusulama.com/language/en-US/User-Profile/UserID/451022.aspx
Really interesting information about trendings in mobile transactions around the world. It’s becoming more and more important subject
Great article, this is proof we are in the future!
Great and brilliant article.very useful title.