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Challenges of Mobile Banking

What is mobile banking?

There are two types of mobile banking: -Direct mobile banking -where you give a mobile phone number to the bank and connect to any bank's service such as ATMs, branches, credit cards, etc - Indirect mobile banking -where you have to use your bank account number and mobile phone number, but the money transfer is not directly from the account to another account - ePayment using Airtel m-Pesa: -- Banks connect Airtel Money to bank accounts and customers have to make a payment transaction using the m-Pesa platform.

Challenges faced by the customer.

Following challenges are faced by the customers with mobile banking: Availability of the Mobile Banking Services any problem in the software, hardware, or service can be faced by the customers as they have to face huge difficulty in the access the Mobile Banking Services as it is difficult to obtain a phone in remote areas and in case of Mobile Banking services, the customer has to go to a place, where the office of the bank is to get the details of the Mobile Banking services and how to operate the mobile banking. This is one of the biggest problems faced by the customer and people go to jail for their fault. Suspicious transactions such kinds of transactions happen in quick time which can be a problem for the customers.

Solutions for overcoming these challenges

The technological solution for overcoming these challenges is according to Gartner and Rapid, mobile identity verification using mobile phone cameras. "Mobile security is getting complicated, so we are going to have a simple solution. Mobile identity verification using a mobile phone camera. So when a mobile wallet provider would open an account with a customer, the mobile phone camera would take a picture of that customer's face. And then we will send the record to the identity provider, and it will verify the photograph. And with that, we will authenticate the customer. For any case of fraud, we will create a call recording between a customer and the mobile wallet provider.


In my opinion, if banks use proper data protection, it will be possible to provide the most profitable service to the customer by boosting the customer's confidence. Nowadays, much mobile banking provides but mobile banking security is the main problem in this whole new industry. How to solve this problem? Security protection in mobile banking helps us to attract customers to mobile banking services. Also, mobile banking can be secure and user-friendly and it can be called user-friendly banking.

Written by Ishmita Vaish

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