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    Thread: What Are The Challenges Of Mobile Banking In your Country?

    1. #11
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      What Are The Challenges Of Mobile Banking In your Country?
      Well i dont know about other countries, but in my country mobile banking is not that perfect, yet, just recently i still have to go to the bank to file a complain about the mobile banking app, why? because i just get a new phone, while trying to reactivate the banking app on the new phone it keep telling me i have exceeded the maximum activation of phones which is 10, i complain and they told me it will work, and this is a week after, it hasn't work.
      so technical, we are still having issue, and also security wise, the mobile banking is not safe as well, hopefully they will work on this problems soon, because i personally, am getting fed up.


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    3. #12
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      We have mobile banking in our country but I don't think that the masses are ready for it yet because of the security issues we may face in using it. Not all bank clients are aware or up to date with the latest trends in technology especially that deals in internet security system. Hacking will be the main problem of mobile banking because there's a lot of android malware that can easily infect mobile phones and steal owner's information. A lot of smartphone users don't even bother to use antivirus on their devices which is almost the same as handing your password to stranger. I don't even transact in mobile banking because my phone is outdated and have some bloatware installed that I don't know if it's safe or not.


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      Mobile banking is a good option for us to send money from any part of the country. It helps to send money when it necessary. But It has some challenge to perform. In bellow I discuss it.
      1. Mobile banking is a complicated transaction for the uneducated people
      2. Rural people feel afraid to make financial transaction like mobile banking
      3. To transfer money from any part of country is so much expensive .
      4. Sometime system has some problem then we can not send or transfer money
      5. If we carry money in our mobile then it is more risky than a bank

      Beside this mobile banking so risky when we carry money .many people lose their money if they transfer money in wring number.so we should be serious when we transfer money.to remove some disadvantage mobile banking has huge positive side.


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    7. #14
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      Mobile bank account is a revolutionary innovation that has helped many people gain financial services even without stepping into the premises of the physical bank address, but this can also create problems if there are any security issues:
      A) Hackers Threat
      The number issues that is being faced by those who use mobile banking applications is the threat from Hackers, someone was caught sometimes this year, he said that the security system of all the banks and financial systems in the country are very weak, this can make any good hacker to access the account of anyone at will, this is a serious problem for users
      B) Failed Transactions
      When you use the mobile application, you can experience a transaction that fails, this has happened to me several times, it could take days or even weeks to have the transaction rectified, during this period, you may be stranded financially if that is the only money you have which has been trapped.
      C) Lack of Account Security
      If your bank does not have a good security system for their application, this could expose your account to anyone with a bad intention to have access to it, before you download any application from the mobile stores, there has to be some verification to know that you are downloading the official app.


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      There are many challenges of Mobile Banking in our country and those are as follows :-

      1. Hectic process :- In the developing countries many people thinks its a hectic process because here we have to go to the bank to get the password and there we actually have to fill the form by giving the reason of such application usage .

      2. Security fear :- Now also many educated people even think that they are not secured about the mobile banking because its online and thus there is always a fear of losing the important informations and password hacking possibility .

      3.lack of Knowledge :- Not all the customers are having sound knowledge about the features and thus they are having a fear of mistaking while using .

      4.upgrade mobile version :- Every person is not having upgraded mobile android version and for that every customers if they want also can't use .

      5.Internet connectivity problem :- Now also in developing countries the internet speed connectivity is not satisfied and for that not every part of the World is now also free to access webpages in a faster manner .So obviously the usage of this will be disturbed.


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