Mobile Banking

JSBL Financial Blog    01-Apr-2020

Mobile Banking
Every passing day the world keeps getting smaller and smaller with all the new and latest technological advances. We have come a long way from using telegrams, pagers, room-sized computers to now touchscreen smartphones, which can do almost everything and fit in the palm of our hand. The list of tasks that can be accomplished on our smartphone devices is close to becoming endless. Nonetheless, it cannot be denied that it has made our lives easier. 
With the launch of mobile networks like Jio 4g, the number of internet users has risen beyond expectations in the last year and a half alone. It is estimated that by the end of the year 2020 the number of smartphone users will be close to 400 million! It is not only a technological advancement but also the changing face of our day to day errands. So, let us look at one of the most important tasks that we do and should be doing on our smartphones.
Going to the bank can be a tiresome job, especially if you have to miss your lunch break or in some cases half a day of work. The bank is where we save our money so why should we have to take time off from our money paying job to run this errand? This is when mobile banking comes in handy! Do you know the benefits of mobile banking? Let us have a look, because not only is it time – saving, but it is extremely easy to use and at the same time safe too! 
It can be frustrating to take out time for the banking errand, especially when you have a busy week ahead. But at the same time banking errand is not something that can be ignored or passed on to someone else. In such a time your best buddy, your mobile becomes very useful since you can transfer your funds, get a bank statement, ask for cheque-book facilities and even update your information in just a few clicks!
With advancing technology, banking apps have become extremely easy to use. It does not matter if you are young or old, the banking app is being developed in a way that anyone can very quickly learn to use it. Along with that, all you have to do is add your account number in the banking app and then the app itself will guide you on how to get whichever service you need at the moment. 
When it comes to financial matters one can never be too cautious. Hence, it is easy to question the safety of online transactions. But there is a big difference in banking apps, in the sense that they are encrypted and all your data is private and fully secured. Additionally, banking apps have multiple layers of securities, this includes your mobile PIN, another PIN which you add in the app and lastly before every minuscule change or transactions bank always operates after you enter the OTP. 
Mobile banking gives you the freedom of time, which means you can access your account whenever you want, no matter if it is midday or midnight. Your bank is always at your fingertips. Along with it, another important benefit of mobile banking is SMS service. Through this service, your bank sends you updates about your bank balance, pending bill payments and much more. This way, even if you forget about some bill payment your bank is always there to remind you. 
As we move forward with technological advancements many of us are neglecting our environmental responsibilities. Mobile banking gives you the chance to do your bit in caring about and saving the environment by going paperless. When all your transactions are done through your mobile and all the receipts and other updates are sent via email and SMS there is hardly any need for a printed copy.
These are the fast-changing times and to get all the benefits, it is important to adapt because all these advancements are done to make human life easier. And with fast advancing technology, you never know, maybe soon mobile banking could be the face of banking or maybe it could change drastically and entirely new technology would come in its stead. So, update, adapt and avail all the offers today!