Rationale
The rapid advancement of science and technology, particularly in information technology, has significantly transformed various sectors, including banking E-banking, online trading, and online payments have emerged as key trends for enhancing competitiveness among commercial banks in Vietnam The evolution of banking services driven by information technology is an inevitable outcome of today's international economic integration Among these modern services, mobile banking stands out for its high utility, enabling customers and banks to benefit from swift and accurate transactions.
To thrive in today's highly competitive business landscape, commercial banks are increasingly prioritizing modernization efforts, which include enhancing traditional services and developing modern banking applications, with mobile banking services serving as a prime example However, the advancement of mobile banking services among commercial banks in Vietnam faces several challenges and limitations.
BIDV, one of Vietnam's largest banks, faces challenges in its mobile banking development, impacting both its business operations and reputation.
Therefore, after practicing at department of customer services at BIDV Dong Do branch, stemming from above knowledge, I decided to go with the thesis:
“IMPROVEMENT IN MOBILE BANKING SERVICES AT BANK OF INVESTMENT AND DEVELOPMENT- BIDV- DONG DO BRANCH”
This thesis studies about the theories of mobile banking, factor affect the development of mobile banking services and some successful example of mobile banking in the
The master's thesis in Economic Management examines the current state of mobile banking at the BIDV Dong Do branch, offering insights into its operational challenges It also presents strategic recommendations for both the government and the bank aimed at enhancing the mobile banking experience and overall efficiency.
Research objective
This thesis explores the theories surrounding mobile banking and the factors influencing its development, with a specific focus on the performance of the Dong Do branch It evaluates the branch's achievements and limitations in providing mobile banking services Additionally, considering the current conditions of the banking industry and both domestic and international economies, the thesis proposes recommendations for the bank and the government to enhance mobile banking services at BIDV Dong Do branch.
Research scope
This thesis focuses on researching on the business performance of mobile banking at Bank for Investment and Development of Vietnam – Dong Do branch.
All data presented in this thesis research illustrates the real situation of international payment operation at Dong Do branch during three recent years from 2008 to 2010 and expanding recommendation to 2015.
Research methodology
In my thesis research, I employed both qualitative and quantitative methods to explore the risks associated with mobile banking The qualitative approach focused on identifying the causes and impacts of these risks, while the quantitative method involved analyzing data from the past three years This analysis utilized statistical techniques and comparisons to provide a practical understanding of the current risks and performance of mobile banking activities at the BIDV Dong Do branch.
Research structure
My thesis research consists of 5 main parts:
CHAPTER 2: FUNDAMENTAL ISSUES OF DEVELOPMENT IN MOBILE BANKING SERVICES
Luận văn thạc sĩ Quản lý Kinh tế
FUNDAMENTAL ISSUES OF DEVELOPMENT IN MOBILE
Mobile accounting
Luận văn thạc sĩ Quản lý Kinh tế
Mobile Accounting refers to banking services centered around transactions linked to a bank account, accessible through mobile devices However, it's important to note that not all Mobile Accounting services are transaction-based These services can be categorized into two main types: Account Operation and Account Management, highlighting the different functionalities they offer.
Transfer in and outside the country Manage access
Pay bills Change account, user ID and PIN
Transfer money to sub account Block card (if lost or stolen)
Online payment (peer to peer payment)
- Transfer within and outside the country: for legal customers through mobile devices can make or cancel transfer money.
- Pay bills: Through this service customers can request representative to pay regular bills periodically, for example: electric bill, water, Internet, cable TV
- Transfer money to sub account: for example, a customer can transfer money from savings accounts to credit card account or securities account
- Register for the insurance: for example, customers can subscribe to travel insurance through mobile devices This service is noted in exigent circumstances.
- Online payment: through this service two customers can transfer directly to another quickly and conveniently.
- Manage access: mobile devices might be used to manage or access an account For example,: change the PIN or to request an individual.
- Block cards (if lost or stolen)
Luận văn thạc sĩ Quản lý Kinh tế
- Checkbook: Customers who use checkbook can buy a new book via mobile devices as needed.
Mobile Brokerage
Brokers play a crucial role in banking and finance by serving as intermediaries in the stock market, facilitating the buying and selling of shares Mobile brokerage refers to transaction-based mobile financial services linked to a securities account, enabling subscribers to respond promptly to market changes from anywhere at any time.
Mobile Brokerage can be divided into two categories to distinguish between services which are services related to operating a securities account and securities account management services
Sell and buy stocks Manage access
- Manage access is also the management of account access: E.g.: change the PIN or request a new transaction
- Manage portfolio: order to buy or sell the stock when it reaches a pre-set threshold.
Financial information encompasses mobile transactions and non-bank financial services, providing customers with access to banking and financial data anytime, anywhere This information can include interest rates, securities account details, and market insights tailored to individual preferences While transactions may not rely solely on financial information services, integrating these services is crucial Additionally, information services can also be offered as standalone modules.
Luận văn thạc sĩ Quản lý Kinh tế
Request account information, recent transactions
Initial transactions, balance thresholds, threshold alerts for stock price bank services information
Status inquiry checks / stop checks Securities information
Credit Card Information Goods prices (e.g: price of gold, price of petrol )
Eg notice account debit / arise
- query account information: customers through this service can access the required information about their account, and can simultaneously query information nearest transactions.
- Transaction Threshold: SMS will be sent to customers whenever transactions (credits or debits) exceeds a certain amount, be made on account
- Threshold balance: Customers can be notified via SMS whenever equilibrium was broken account
- Threshold alerts for stock price: The Bank may send notifications to customers via mobile devices or SMS messages as part of some stocks fell abruptly or exceeds the
Luận văn thạc sĩ Quản lý Kinh tế threshold that customers have identified before and also required directives from customer activity.
- Credit card information: customers can check the status of credit card as well as money they can use at that time.
- Also this service also provides information about exchange rates, banking services,stock prices.
Services of mobile banking
There are many methods to deploy mobile banking services We can split into mainly three methods: browser-based application, messaging -based application, standalone application:
This application generates user interfaces on the server and subsequently transmits them to mobile devices A prevalent use case is in banking services, including WAP banking, i-mode, and web applications for PDAs Notably, WAP I-Mode banking stands out as a significant option in mobile banking solutions.
WAP, or Wireless Application Protocol, is a technology architecture that allows mobile phones to access Internet sites seamlessly It encompasses essential components such as browsers, servers, URLs, and gateways, enabling mobile devices to utilize web browsers similarly to computers This capability is particularly appealing to banks, as it eliminates the need for customers to download proprietary software while still facilitating access to a wide range of online services.
Many renowned banks globally, including Nordea (Finland), Credit Suisse (Switzerland), Bank of America, and Deutsche Postbank, are leveraging mobile banking through WAP application deployment This approach offers significant benefits, enhancing accessibility and convenience for users while streamlining banking services across major financial institutions.
Luận văn thạc sĩ Quản lý Kinh tế
Transfer in and outside the country
Post bank, Bank of the Philippine Islands, May bank, Nordica Pay bill Bank of the Philippines HDFC, May bank,
Nordica Bank of America Transfer money to sub account
Post bank, Bank of the Philippine Islands May bank, Nordica
Register to insurance Bank of America
Account management Post bank, May bank, Bank of America
Block account Post bank, May bank, Bank of America checkbook May bank, Bank of America
Sell and buy stock Post bank, Bank of the Philippine Islands,
Manage access Post bank, Bank of America
Manage portfolio Post bank, Bank of the Philippine Islands, Nordica,
Request account information, recent transactions
Post bank, Bank of the Philippine Islands, Credit Suisse, May bank, Nordica, BOA
Luận văn thạc sĩ Quản lý Kinh tế
Initial transactions, balance thresholds, threshold alerts for
Post bank, Bank of the Philippine Islands, May bank, Nordica, BOA Status inquiry checks / stop checks
Credit Card Information Post bank, Nordea.BOA
Branch and ATM locations Post bank, May bank, Nordica, BOA
Helpline and emergency contact Post bank, Credit Suisse, May bank
Exchange rate Credit Suisse, Nordica, UBS
Bank services information Nordica, UBS, BOA
Securities information Post bank, Credit Suisse, Nordica, May bank, UBS
Goods prices BOA, May bank, Post bank, Credit Suisse, Nordica,
I-mode: i-Mode is the packet-based service for mobile phones offered by Japan's leader in wireless technology, NTT Do Como Unlike most of the key players in the wireless arena, i-Mode eschews the Wireless Application Protocol (WAP) and uses a simplified version of HTML, Compact Wireless Markup Language (CWML) instead of WAP's Wireless Markup Language (WML) NTT DoCoMo has said that eventually it will support WAP and WML, but the company has not said exactly when this will happen First introduced in 1999, i-Mode was the world's first smart phone for Web browsing The i-Mode wireless data service offers color and video over many phones. Its mobile computing service enables users to do telephone banking, make airline reservations, conduct stock transactions, send and receive e-mail, and have access to the Internet As of early 2000, i-Mode had an estimated 5.6 million users.
(Sources: http://searchnetworking.techtarget.com/definition/i-Mode)
Luận văn thạc sĩ Quản lý Kinh tế
In Messaging-based Applications, the contact information between banks and customers should be processed via text messages These messages can be automatically activated whenever transactions is done
SMS is a widely recognized service among mobile users, as most modern phones support it The low cost of SMS has encouraged many banks to adopt mobile banking services that utilize SMS applications This straightforward approach allows banks to send short messages to customers' mobile phones and respond to their requests efficiently.
2.1.2.3 Standalone application downloaded by clients
Many banks now provide mobile applications that enable customers to access banking services conveniently These apps offer a secure platform for users to perform complex transactions, highlighting the significant advantage of enhanced security in digital banking.
The importance of the development of mobile banking
From bankers’ standpoint, we will consider the benefits that mobile banking brings to show a clear tendency to develop mobile banking in the future.
The rapid expansion of banking products and services is driven by global computer networks, enabling customers to access services worldwide, such as using credit cards abroad The introduction of the EU market has intensified competition across all sectors, including banking Globalization allows banks to serve remote areas without the need for significant investments in physical branches or additional staff.
However, opportunities are duality also On the one hand, banks are able to access new markets On the other hand it faces increased competition in the domestic market.
To ensure this, the bank have to keep business stable and growing Therefore, banks must simultaneously retain the customer loyalty, both to attract and appeal to potential
Master's thesis in Economic Management highlights that banks must innovate and offer new products to attract new customers while ensuring existing customer loyalty While a bank's reputation plays a crucial role in gaining customer trust, globalization and technological advancements have lowered entry barriers, leading to an increase in reputable banks and heightened competition in the financial sector.
• Meet the requirements of each customer group
Modern banks are adapting to the growing demand for mobile banking services as customers increasingly prefer technology that allows them to conduct transactions on the go Wolfgang Klein, managing director of the private client group at Postbank, emphasizes that today's customers expect the ability to perform banking activities anytime, regardless of traditional banking hours In response, banks are focusing on enhancing their mobile service offerings to meet these evolving customer needs.
The youth group aged 14 to 18 plays a crucial role in shaping mobile technology and services, as they are early adopters of preferred tech products and eager testers of new offerings Their consistent travel demands highlight the need for accessible services anytime and anywhere While this demographic may not engage in significant financial transactions with banks currently, they represent a valuable potential customer base Therefore, banks should integrate this group into their long-term marketing strategies to cultivate future relationships.
A group of tech-savvy young individuals, despite lacking significant financial resources, is increasingly participating in the stock market This demographic, characterized by its friendly disposition towards technology, is projected to soon become a vital segment of potential banking customers, highlighting the need for financial institutions to pay attention to their evolving needs.
The customer business group, typically aged between 26 and 50 years, represents the most crucial demographic for mobile banking services This segment consists of qualified and affluent individuals who prioritize professional service and require constant accessibility, often utilizing mobile devices Consequently, they are the ideal candidates for mobile banking solutions, making them a key focus for service providers in the industry.
In the perspective of banks, this group has potential especially because of their financial capacity and demand for financial services like loans to buy houses
Luận văn thạc sĩ Quản lý Kinh tế
In countries like China and various developing nations such as Vietnam and the Philippines, a significant portion of the population has access to banking services However, the widespread use of mobile phones has created a strong demand for bank transfers and small retail payments This trend highlights the potential of the low to middle-income demographic, which constitutes a large part of the population and represents a key target market for financial services.
To meet all the needs of this group, banks tend to see mobile banking as a promising choice.
• Mobile banking serves as a distribution channel
A key function of distribution channels is to boost demand for client products at competitive prices, achieved through enhanced operational efficiency Meeting clients' rapid response needs can positively impact demand for bundled services Additionally, mobile banking plays a vital role in this process by providing valuable services to utilities.
- You can use banking services anywhere, anytime
- The direct counseling face to face with the consultants via phone service
- To meet requirements of customer transactions quickly in emergency situations, such as a requirement to sell certain shares during the economic crisis erupted.
In today's competitive business landscape, organizations must enhance efficiency in their processes to lower distribution costs Streamlining the organizational structure is essential for boosting productivity Mobile banking emerges as a key solution to address these challenges, offering a way to optimize operations and improve overall effectiveness.
The manual collection and transfer of information by bank employees in branch offices are increasingly being replaced by automated processes like internet banking An American study reveals that the average cost of a transaction conducted at a bank branch is $1, while transactions made over the phone cost only $0.50 In contrast, completing similar transactions via the internet or mobile devices incurs a mere cost of 1 cent.
Luận văn thạc sĩ Quản lý Kinh tế
- Bank will save a large expenditure for construction work more affiliates, and costs for banks operating in the branch.
- Superior to Internet banking, Mobile banking allows customers to use the service anywhere, anytime.
- The variety of distribution channels to help reduce business costs increase as declining sales by distribution channels collapse and help minimize customer dissatisfaction.
In 2004, Nordica Finance, a pioneer in mobile banking, experienced a 30% increase in transaction-based mobile services The company successfully reduced costs by promoting a shift to mobile banking, with the Vice President of the Nordica Mobile Banking division stating that customers found net banking and mobile banking to be more affordable and convenient options.
Mobile banking can increase customer satisfaction in the following ways:
- Streamlining business processes to enhance efficiency
- Increase attention and better advice to customers due to automate operational processes.
- Service providers can meet "anywhere, anytime" depending on individual requirements of users, regardless of geographical location has increased benefits to customers
- The data collected can be used to create customer profiles.
Increase in customer satisfaction will reduce the rate of customers leaving the bank to use other bank services.
• Mobile banking is a source of revenue
Mobile banking serves as a potential revenue stream, with services offered on a secure basis It is essential for pricing to be attractive enough for customers while also covering the bank's operational costs Revenue growth can be realized through two primary methods.
- The fees while providing new services for existing customers.
Luận văn thạc sĩ Quản lý Kinh tế
To enhance customer acquisition, banks should introduce innovative services that appeal to new clients These new customers not only utilize mobile services but also engage with various convenient channels, significantly boosting the bank's revenue.
Numerous reports indicate that banks have successfully developed mobile banking services that generate significant revenue For instance, French bank Société Générale introduced a SMS-message security service named "Mesalia," priced at €4.00 per month By the end of 2004, this service attracted 640,000 subscribers, marking an 11% growth from the previous year Since its launch, Mesalia has consistently proven to be profitable.
• Mobile banking act symbolic products
Mobile banking serves as a strategic tool for banks to enhance their technological image and social prestige By positioning themselves as pioneers in modern technology, banks can attract tech-savvy customers seeking innovative products and services while fostering customer loyalty Additionally, banks can leverage the benefits of early technology adoption by establishing their own technology standards, capitalizing on their unique strengths However, this approach carries significant risks, as unsuccessful technology deployment can lead to financial losses and damage the bank's reputation.
RECOMMENDATION TO IMPROVE MOBILE BANKING
CHAPTER 5: CONCLUSION AND SOME SUGGESTION FOR FUTURE RESEARCH
CHAPTER II: FUNDAMENTAL ISSUES OF DEVELOPMENT IN MOBILE BANKING SERVICES
In 30 years recently, the financial institutions have been upgraded to meet the everyday needs of customers First to mention is the automated teller machine (ATM), which is introduced to American in 1969 by the Bank of New York Chemicals Over a long time of development to fix many limitations, ATMs now carries the full features of a bank, offering a full suite of financial transactions.
The launch of Internet banking in the mid-1990s revolutionized consumer access to financial accounts from home, leading to about 35% of U.S households engaging in online banking today However, significant challenges remain; as of a 2003 U.S Census Bureau study, only 62% of American households owned a computer and merely 28% had broadband Internet access The primary concern is portability, as traditional laptops require a stable Internet connection, unlike mobile phones, which allow access anytime and anywhere Currently, over 238 million people in the U.S use mobile banking, representing 78% of the population.
Luận văn thạc sĩ Quản lý Kinh tế the population, and there are more than 3.25 billion mobile subscribers worldwide and this number keeps growing in the future
Relying solely on voice functions for banking transactions is ineffective due to limited capabilities Today's mobile phones come equipped with various features, including high-speed internet access and text messaging These advancements make mobile phones an ideal platform for banks to enhance and expand their mobile banking services, offering users a range of outstanding features.
Mobile banking, or M-Banking, refers to conducting banking activities like balance checks, transactions, payments, and credit applications via mobile devices such as smartphones or PDAs Initially, mobile banking services were provided through SMS, known as SMS banking The advent of early smartphones with WAP support in 1999 marked the beginning of mobile web usage, prompting the first European banks to offer mobile banking services to their customers.
Mobile banking serves as a cornerstone for mobile commerce, offering essential services in accounting, brokerage, and financial information Its rapid growth is attributed to widespread adoption by banks worldwide, aiming to enhance revenue, reduce costs, and satisfy customer demands For instance, Nordica Bank Finland experienced a 30% increase in mobile trading in 2004, reflecting a positive shift in customer perceptions of mobile banking Advances in technology, particularly the Universal Mobile Telecommunications System (UMTS), have created new opportunities for mobile applications Unlike previous challenges related to customer care and technology, today's mobile banking services encompass a range of banking transactions and related services that cater to financial information needs.
Luận văn thạc sĩ Quản lý Kinh tế
Mobile Accounting refers to banking services that revolve around transactions linked to a bank account and are accessible through mobile devices However, it's important to note that not all Mobile Accounting services are transaction-based These services can be categorized into two main types: Account Operation and Account Management, which help differentiate their functions and features.
Transfer in and outside the country Manage access
Pay bills Change account, user ID and PIN
Transfer money to sub account Block card (if lost or stolen)
Online payment (peer to peer payment)
- Transfer within and outside the country: for legal customers through mobile devices can make or cancel transfer money.
- Pay bills: Through this service customers can request representative to pay regular bills periodically, for example: electric bill, water, Internet, cable TV
- Transfer money to sub account: for example, a customer can transfer money from savings accounts to credit card account or securities account
- Register for the insurance: for example, customers can subscribe to travel insurance through mobile devices This service is noted in exigent circumstances.
- Online payment: through this service two customers can transfer directly to another quickly and conveniently.
- Manage access: mobile devices might be used to manage or access an account For example,: change the PIN or to request an individual.
- Block cards (if lost or stolen)
Luận văn thạc sĩ Quản lý Kinh tế
- Checkbook: Customers who use checkbook can buy a new book via mobile devices as needed.
Brokers play a crucial role in banking and finance by acting as intermediaries in stock market transactions, facilitating the buying and selling of shares Mobile brokerage services offer transaction-based financial solutions through a securities account, enabling subscribers to respond promptly to market changes from anywhere at any time.
Mobile Brokerage can be divided into two categories to distinguish between services which are services related to operating a securities account and securities account management services
Sell and buy stocks Manage access
- Manage access is also the management of account access: E.g.: change the PIN or request a new transaction
- Manage portfolio: order to buy or sell the stock when it reaches a pre-set threshold.
Financial information encompasses mobile transactions and non-bank financial services, allowing customers to access banking and financial data anytime and anywhere This information includes details about interest rates, securities accounts, and market data tailored to individual preferences While transactions may not solely rely on financial information services, their integration with information services is crucial Additionally, these information services can be provided as standalone modules.
Luận văn thạc sĩ Quản lý Kinh tế
Request account information, recent transactions
Initial transactions, balance thresholds, threshold alerts for stock price bank services information
Status inquiry checks / stop checks Securities information
Credit Card Information Goods prices (e.g: price of gold, price of petrol )
Eg notice account debit / arise
- query account information: customers through this service can access the required information about their account, and can simultaneously query information nearest transactions.
- Transaction Threshold: SMS will be sent to customers whenever transactions (credits or debits) exceeds a certain amount, be made on account
- Threshold balance: Customers can be notified via SMS whenever equilibrium was broken account
- Threshold alerts for stock price: The Bank may send notifications to customers via mobile devices or SMS messages as part of some stocks fell abruptly or exceeds the
Luận văn thạc sĩ Quản lý Kinh tế threshold that customers have identified before and also required directives from customer activity.
- Credit card information: customers can check the status of credit card as well as money they can use at that time.
- Also this service also provides information about exchange rates, banking services, stock prices.
There are many methods to deploy mobile banking services We can split into mainly three methods: browser-based application, messaging -based application, standalone application:
This application generates user interfaces on the server, subsequently transferring them to mobile devices A notable use case is in banking services, particularly through wireless application protocol (WAP) banking, i-mode, or web applications designed for PDAs Among these, WAP I-Mode banking stands out as a prominent option for mobile banking solutions.
WAP (Wireless Application Protocol) is a technology architecture that allows mobile phones to access Internet sites, incorporating elements like browsers, servers, URLs, and gateways This technology enables mobile devices to utilize web browsers similarly to computers, making it particularly appealing for banks, as customers can access services without the need to download proprietary software, ensuring seamless traffic translation.
Many renowned banks globally, such as Nordea in Finland, Credit Suisse in Switzerland, Bank of America, and Deutsche Postbank, are embracing mobile banking through WAP application deployment This approach offers numerous benefits, enhancing accessibility and convenience for customers while streamlining banking operations for these major financial institutions.
Luận văn thạc sĩ Quản lý Kinh tế
Transfer in and outside the country
Post bank, Bank of the Philippine Islands, May bank, Nordica Pay bill Bank of the Philippines HDFC, May bank,
Nordica Bank of America Transfer money to sub account
Post bank, Bank of the Philippine Islands May bank, Nordica
Register to insurance Bank of America
Account management Post bank, May bank, Bank of America
Block account Post bank, May bank, Bank of America checkbook May bank, Bank of America
Sell and buy stock Post bank, Bank of the Philippine Islands,
Manage access Post bank, Bank of America
Manage portfolio Post bank, Bank of the Philippine Islands, Nordica,
Request account information, recent transactions
Post bank, Bank of the Philippine Islands, Credit Suisse, May bank, Nordica, BOA
Luận văn thạc sĩ Quản lý Kinh tế
Initial transactions, balance thresholds, threshold alerts for
Post bank, Bank of the Philippine Islands, May bank, Nordica, BOA Status inquiry checks / stop checks
Credit Card Information Post bank, Nordea.BOA
Branch and ATM locations Post bank, May bank, Nordica, BOA
Helpline and emergency contact Post bank, Credit Suisse, May bank
Exchange rate Credit Suisse, Nordica, UBS
Bank services information Nordica, UBS, BOA
Securities information Post bank, Credit Suisse, Nordica, May bank, UBS
Goods prices BOA, May bank, Post bank, Credit Suisse, Nordica,
I-mode: i-Mode is the packet-based service for mobile phones offered by Japan's leader in wireless technology, NTT Do Como Unlike most of the key players in the wireless arena, i-Mode eschews the Wireless Application Protocol (WAP) and uses a simplified version of HTML, Compact Wireless Markup Language (CWML) instead of WAP's Wireless Markup Language (WML) NTT DoCoMo has said that eventually it will support WAP and WML, but the company has not said exactly when this will happen First introduced in 1999, i-Mode was the world's first smart phone for Web browsing The i-Mode wireless data service offers color and video over many phones. Its mobile computing service enables users to do telephone banking, make airline reservations, conduct stock transactions, send and receive e-mail, and have access to the Internet As of early 2000, i-Mode had an estimated 5.6 million users.
(Sources: http://searchnetworking.techtarget.com/definition/i-Mode)
Luận văn thạc sĩ Quản lý Kinh tế
In Messaging-based Applications, the contact information between banks and customers should be processed via text messages These messages can be automatically activated whenever transactions is done
SMS is a widely recognized service among mobile users, as most modern phones support it The low cost of SMS has encouraged many banks to adopt mobile banking services utilizing SMS applications This straightforward approach allows banks to send short messages to customers' mobile phones and respond to their requests efficiently.
2.1.2.3 Standalone application downloaded by clients
Many banks now provide mobile software that enables customers to access banking services through dedicated applications These mobile apps offer a secure platform for users, allowing them to conduct more complex transactions with confidence Enhanced security features are a significant benefit of this service.
2.2.1 The importance of the development of mobile banking
From bankers’ standpoint, we will consider the benefits that mobile banking brings to show a clear tendency to develop mobile banking in the future.
The rapid expansion of banking products and services is driven by global computer networks, allowing customers to access services worldwide, including the use of credit cards abroad The introduction of the EU market has intensified competition across various sectors, including banking Globalization empowers banks to reach remote areas without the need for significant investments in physical branches or additional staffing.
However, opportunities are duality also On the one hand, banks are able to access new markets On the other hand it faces increased competition in the domestic market.
To ensure this, the bank have to keep business stable and growing Therefore, banks must simultaneously retain the customer loyalty, both to attract and appeal to potential