m-banking what ? how ?

INTRODUCTION
According to wikipedia Mobile banking is a system that allows customers of a financial institution to conduct a number of financial transactions through a mobile device such as a mobile phone or personal digital assistant.
It has been evolved from the initiation of sms banking facilities provided to banks for clients. With the emergence of smart phones, WAP, 3G and 4GLTE technologies banks have reached their arms towards using  those technologies to empower and enhance the banking facilities and draw them closer to the client.

SERVICES PROVIDED
M-banking is conquering the banking facilities by providing mobilized, paced-up, easy and convenient banking services at the tips of the banking clients and it enhances the ability of banks to reach into customer and conquer their life styles and provide services at their door steps.
Some services they provide are

PROS AND CONS
Almost everything has its own pros and cons. Even highly sophisticated technologies may have their own pros and cons. Here is a review on Pros and Cons of m-banking which is a technology to perform finance related functions on a mobile device like a Smartphone or tablet. With the use of a mobile device, the user can perform mobile banking via call, text, website, or an app.

PROS

• Convenience

Ability to use the banking services any time anywhere increases the amount of convenience a bank client can have and also the bank gets benefited from getting the ability to reduce the increasing cues in the branches or ATMs.

• Mobilizing banking activities

In the traditional banking scenarios banking services was provided as a non-mobile service where the client has to go to client. M-banking has made the bank mobile and omnipresent within the clients.

• Multitasking

Bank while you work is a major enabler which was generated out of m-banking do multiple functions at once using a mobile enables this aspect.

• Enhanced Security

Mobile banking is said to be secure than internet or online banking methods that are currently in the picture.

• Around the clock banking facilities

Either you are a busy person or a person who lives long way from the bank the bank is open 24 * 7 for the banking functionalities without any cues or counters.

CONS

• Vulnerability to scams

m-banking users can be exposed to fake sms messages which may be spams or scams which will mislead them.
    * how to avoid :- M-banking users might be aware that such things like scams are there and be wise to respond only to mostly trusted messages and inquire the bank directly on their hotlines.

• Loss of mobile devices

Losing a device which is been used by a m-banking service user may put the account in danger like losing pin number, loosing identity on mobile and loosing other sensitive information.
    * how to avoid :- Keeping the sensitive data on mobile backed up and use protection methods on keeping pin numbers and other details encrypted.

• Excessive Charges

Certain m-banking sevice providers charge the users for the sevices they provide. If the users subscribe for features which they do not use that will be a waste.
    * how to avoid :- Understand and use only the services that is mostly usable for the user.

REFERENCES
Mobile banking - Wikipedia, the free encyclopedia. 2014. Mobile banking - Wikipedia, the free encyclopedia. [ONLINE] Available at: http://en.wikipedia.org/wiki/Mobile_banking. [Accessed 01 April 2014].

Advantages and Disadvantages of Mobile Banking | Mauco Internet Consultants. 2014. Advantages and Disadvantages of Mobile Banking | Mauco Internet Consultants. [ONLINE] Available at: http://mauconline.net/2013/03/07/advantages-and-disadvantages-of-mobile-banking/. [Accessed 01 April 2014].