Mobile Banking For Inclusive Growth - Punjab National Bank ...

FROM THE DIRECTOR'S DESKe-trackTechnology reduces cost on one hand and enhances reach and efficiency on theother. Efficient leveraging of technology based on well defined business strategy is thekey to determine the business growth of any organisation more particularly banks.Effective implementation of technology will help the banks in taking on thecompetition successfully and furthering their achievement in the area of financialinclusion as well.Internet Banking facilitated 'Anywhere Anytime Banking' immensely in the last few years. However touse this channel, the customer needs a PC, internet/broadband connection and adequate computer literacy.These prerequisite coupled with perceived fear of breach of security due to phishing is posing significantchallenge in its wider and deeper acceptance.These concerns are addressed by Mobile banking because of relatively minuscule cost, convenience,ease of use and consumer confidence demonstrated by the sheer number of mobile users in the country.Consequently mobile banking or m-banking will find greater acceptance and enable mobile phone users toaccess basic financial services even when they are miles away from the nearest branch or home computer.Customers will be able access their banks on the go – be it while shopping, or waiting for their bus to work, ortraveling or simply chatting before their orders come through in a restaurant.Introduction of Mobile Banking is sure to make 'Anywhere Anytime Banking' a reality in true senseand spirit and enable inclusive growth.Happy Mobile Banking to all readers.P K Malhotra(Director)pkmalhotra@pnbiit.co.in5January-March-2010