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Finance & Accounting
Pages 5 (1255 words)
The Impact of Mobile Banking on the accounting Profession in Banking environment Name Institution The Impact of Mobile Banking on the accounting Profession in Banking environment The evolution of the world has been accompanied by various technological developments…
It is worth noting that Hello Money, like other mobile banking services, is different from mobile payments, which entail the use of the mobile devices to pay for goods. Mobile banking is performed through mobile web or SMS. The service has been particularly facilitated by the evolution of an array of technologies, such as smart phones and web based technologies, which create the allowance for installation of special features that support mobile banking. The full adoption of the mobile banking implies that accounting systems would be automated and this would significantly accounting workplace. The crucial question is then how these changes would affect the banking environment workplace. The trending developments regarding mobile banking is well documented. According to SWIFT (2005), mobile banking is still considered as one of the pertinent topic in the finance industry, as well as for banking institutions. This has been exacerbated by the growing ubiquity of mobile phones across the global population. In a population of about 7 billion people, as many as 5 billion people will be in the possession of mobile phones. At the same time, out of all that population, only 2 billion people will be holding the bank accounts. Consumers are now increasingly using their mobile phones in making payments and bank their money. ...
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