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Finance & Accounting
Pages 5 (1255 words)
The Impact of Mobile Banking on the Finance Profession in banking environment Name Institution The Impact of Mobile Banking on the Finance Profession in banking environment The evolution of the world has been accompanied by various technological developments.
Hello Money is a mobile banking service brand for Barclays Bank that allows customers to carry out financial transactions by using mobile devices and personal digital. However, there is also a group of stakeholders, including the staff that is concerned about the negative consequences of mobile banking. The crucial question is then how the finance workplace in the banking environment would be affected. 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. Mobile banking is described as a growing business, with users expected to increase to about 900 million while the transaction value is expected to exceed 1 trillion dollars by 2015. Finance staff would also have to reap from the benefits that accompany the mobile banking operation. ...
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