Premium Essay

Sms Banking

In: Computers and Technology

Submitted By neang
Words 308
Pages 2
SMS banking is a type of mobile banking, a technology-enabled service offering from banks to its customers, permitting them to operate selected banking services over their mobile phones using SMS messaging.
SMS banking services are operated using both push and pull messages. Push messages are those that the bank chooses to send out to a customer's mobile phone, without the customer initiating a request for the information. Typically push messages could be either Mobile marketing messages or messages alerting an event which happens in the customer's bank account, such as a large withdrawal of funds from the ATM or a large payment using the customer's credit card, etc. (see section below on Typical Push and Pull messages).

Another type of push message is One-time password (OTPs). OTPs are the latest tool used by financial and banking service providers in the fight against cyber fraud. Instead of relying on traditional memorized passwords, OTPs are requested by consumers each time they want to perform transactions using the online or mobile banking interface. When the request is received the password is sent to the consumer’s phone via SMS. The password is expired once it has been used or once its scheduled life-cycle has expired.

Pull messages are those that are initiated by the customer, using a mobile phone, for obtaining information or performing a transaction in the bank account. Examples of pull messages for information include an account balance enquiry, or requests for current information like currency exchange rates and deposit interest rates, as published and updated by the bank.

The bank’s customer is empowered with the capability to select the list of activities (or alerts) that he/she needs to be informed. This functionality to choose activities can be done either by integrating to the internet banking channel or through the bank’s customer…...

Similar Documents

Free Essay

Burying Sm

...Roy Abrams Burying SM Paper April 17, 2011 Death. Death is an inevitable occurrence in the life cycle of the human race that is dealt with in numerous different ways. Culture. Cultures are so numerous and varying that it is almost impossible to compare the small nuances that make them unique. Death and culture truly share a major thing in common, as they coincide harmoniously with such questions as “How is death handled?” and “What happens next?” As human beings, it is certainly possible to only look at the perspective of death that our particular culture is familiar with, and to let that obscure the views of others around the world. In Africa, death is a little more complicated. Placing the focus on one country in Africa, Kenya is a land that is still divided by tribal differences, differences that have been in place since written record itself is known about this region of the world. Death in Kenya raises a few questions, just as it does in places like Chicago, or Venice, or any small town in rural Kansas. These questions were far more involved after the death of lawyer Silvano Melea Otieno in 1986. “SM”, as the man’s name is abbreviated, was born a member of the Luo clan or tribe, but upon marriage with is wife Virginia, a Kikuyu tribe member, threw Kenya for a loop in ways he could never have imagined (Cohen; Odhiambo, 1992). The problem that was really a deep-seeded threat in this situation was a case of pluralism, or a diversity of views. An intense......

Words: 1813 - Pages: 8

Premium Essay

Banking

...A PROJECT REPORT ON FINANCIAL SERVICES OF BANKS Submitted to University of Mumbai in Partial fulfillment Of the requirement of the Degree of B.Com ³BANKING & INSURANCE´ Under guidance of PROF. RUEEN PATEL VPM¶S K.G Joshi College of Arts N.G Bedekar College of Commerce Thane (E) Academic Year: 2010-11 BYJEMINI.J.PATIL ACKNOWLEDGEMENT In completing this project I am deeply conscious of my debt to all those, without whose warm support, enragement & guidance this project was not possible to complete. I am specially greatful to Prof Rueen Patel my guide to this project, She actually gave the life to this project and guidance of my parents & friends this project took shape. They also provided me much needed criticism & encouragement. Jemini Patil DECLARATION I am Jemini J. Patil studying in T.Y.Banking & Insurance hereby declare that I have done a project on ³Financial Services provided by Banks´. As required by the university rules, I state that the work presented in this thesis is original in nature and to the best my knowledge, has not been submitted so far to any other university. Whenever references have been made to the work of others, it is clearly indicated in the sources of information in references. Student (Jemini. J. Patil) Place: Thane Date: October, 2010 EXECUTIVE SUMMARY Banks are the Financial Institution which satisfies the individual & group goals with proper systems of rules, regulations, policies, services, procedures &......

Words: 11527 - Pages: 47

Free Essay

E-Banking: ‘a New Era of Customer Satisfaction Through Sms Banking’

...E-Banking: ‘A new era of customer satisfaction through SMS Banking’ Abdullah Hassan, BBA(Hon’s), Fourth Year, Department of Management Studies, University of Chittagong, abdtek@gmail.com Abstract According to the Euronet mobile Banking Guide, there are currently close to 400 mobile operators in over 133 countries who are signing up 4 to 6 new customers every second. That means people are now much more interested in cell phone than before. Users always seek multi-dimensional use of their cell phones. The main purpose of this paper is to find out customer satisfaction through SMS Banking. Mobile phone operators provide various value added services (VAS) to their users including banking service and other utility services with the legal agreement with respective organizations. As mobile operators are trying heart and soul to retain existing customers and enhance new customers by adding VAS, hence a mobile banking solution called SMS Banking that allows people to bank with their mobile phones and its overview are presented in paper. Introduction There are various types of E-banking that are used in the field of IT and Banking. SMS Banking is one of them. SMS stands for ‘Short Message Service’. SMS Banking allows you to check account balance, transfer amount to other account, payment of utility bills like electricity bill, gas bill and water bill etc. Short Message Service is particularly adapted to 2G networks because they require low capabilities for data......

Words: 3779 - Pages: 16

Premium Essay

Sms Model

...SMS Model, a Service Management System The SMS model is invented by Richard Norman and it illustrates a Service Management System consisting of five elements closely connected together. None of the elements can be viewed uniquely. You may even consider the arrows as glue. However, for the sole purpose of explaining each of the elements they are separated below. Service Management System by Richard Norman (1972) John Wiley & Sons, edition 1 page 58 The Market Segment: Consists of both existing customers and potential customers. The Service Concept: Are the benefits (service package) offered to the client as well as the efforts of how benefits are designed, marketed, delivered and perceived both by the client, by the employee and by others. The Image: The information tool whereby management can influence staff, clients and other stakeholders. The Culture and Philosophy: Are the overall principles of how the social process leading to the delivery of the service benefits are controlled, maintained and developed long term. The Delivery System: Is a triad consisting of personnel, client and the technical and physical support. * Personnel: As a service is co-produced together with the client, the personnel’s appearance, education, training and attitude matter greatly to the quality of the entire service. * Client: Equally as the client contributes to the service they are receiving their role is vital to the quality of the outcome. ......

Words: 257 - Pages: 2

Free Essay

Mobile Banking the Future of Banking Industry

...Mobile banking is a system that allows customers of a financial institution to conduct a number of financial transactions through a mobile device such as a mobile phone or personal digital assistant. Mobile banking differs from mobile payments, which involve the use of a mobile device to pay for goods or services either at the point of sale or remotely,[1] analogously to the use of a debit or credit card to effect an EFTPOS payment. The earliest mobile banking services were offered over SMS, a service known as SMS banking. With the introduction of smart phones with WAP support enabling the use of the mobile web in 1999, the first European banks started to offer mobile banking on this platform to their customers.[2] Mobile banking has until recently (2010) most often been performed via SMS or the mobile web. Apple's initial success with iPhone and the rapid growth of phones based on Google's Android (operating system) have led to increasing use of special client programs, called apps, downloaded to the mobile device. With that said, advancements in web technologies such as HTML5, CSS3 and JavaScript have seen more banks launching mobile web based services to complement native applications. A recent study (May 2012) by Mapa Research suggests that over a third of banks[3] have mobile device detection upon visiting the banks' main website. A number of things can happen on mobile detection such as redirecting to an app store, redirection to a mobile banking specific......

Words: 264 - Pages: 2

Premium Essay

Mobile Banking

...Mobile Banking “Banking in Your Hand” 11/24/2013 Department of Management Information Systems University of Dhaka Dhaka 1000, Bangladesh An Assignment on “Mobile Banking” Prepared by: ID: 05-036 ID: 05-048 ID: 05-053 ID: 05-054 ID: 05-067 Md. Khalilur Rahman Ashik Ahmed Md. Taijul Islam Jowel Sarker Md. Nurul Amin Prepared for: Mr. Ariful Islam Apu Lecturer Department of Management Information Systems University of Dhaka Page 2 of 26 Executive Summary Importance of banking system in a country is increasing day by day. It is quite impossible for any country to develop in industrial and commercial sector without sound banking system in modern economic era. Mobile Banking is one of the significant functions of the bank. It plays a vital role in overall economy of the country. Bank collects information from numerous sources relating to cost and revenue from Customer Management. Globalization of national economies has given a boost to international trade. The seller and the buyer in an international trading transaction must agree for a product or its quality, price etc. enter into a sales contract, spelling out precisely shipping and delivery details, terms of payment, required documentation and other related issues including dispute settlement procedure and legal framework available. The major objectives of my report is to describe the Mobile banking system of our country, measurement the employee behavior and performance, determine the wide range of services, and......

Words: 8269 - Pages: 34

Premium Essay

Banking Report

...ABSTRACT This report deals with “internet banking” Its scope, advantages and background ACKNOWLEDGEMENT First of all we owe dear Almighty Allah who gave us strength, knowledge and tenacity to undertake and successfully complete the report. For help in preparation of this report we also extend our gratitude to, Sir Khalid Jamil Ansari who was very cooperative, benevolent and relent throughout. In the absence of his guide lines which were very help full without it we won’t be able to prepare such a report which now is shaped as an ostensible report. Initially this report writing assignment was appeared as an arduous hindrance but the confidence he showed and the way he motivate us develop perk in us and we are finally able to complete this initially abstruse looking assignment. 1. INTRODUCTION Web Banking or Internet Banking is a term used to describe banking transactions that are performed via a secured Internet application.  Web Banking transactions include such things as paying bills, transferring funds, viewing account statements and paying down  loans and mortgages. Although Web Banking has been popular among young Internet-savvy people for many years, its popularity is expected to grow rapidly as Internet usage grows internationally and people discover the many advantages that it provides. Web-Banking.org provides an overview of Internet Banking.  It discusses conventional and virtual banks, e-banking services, Internet security and the cost/benefit......

Words: 6652 - Pages: 27

Premium Essay

Banking

...Note : Both the sections are compulsory. Section I CASE I : BANKING ON RELATIONSHIP The birth of ABC Bank took place after the RBI issued guidelines for the entry of new private sector banks in January 1993. Subsequently, the promoter of ABC Bank sought permission to establish a commercial bank and retained KPMG, a management consultant of international repute, to prepare the groundwork for establishing a commercial bank. The Reserve Bank of India conveyed its approval in principle to establish ABC Bank on February 11, 1994. Thereafter, the Bank was incorporated under The Companies Act in September 1994. The bank started its operations in November 1995. The ABC Bank was promoted by the tenth largest development bank in the world, which had a magnificent record of promoting world-class institutions in India. The promoter was a strategic investor in a plethora of institutions, which had revolutionized the Indian financial markets. Keeping in line with its policy of leveraging technology to drive its business, ABC Bank deployed Finacle, the e-age banking solution from Infosys to consolidate its position, meet challenges and quickly seize new business opportunities. The entire Finacle rollout was remarkable, considering the fact that it was implemented across all branches in a record timeframe of 5 months. Finacle provided the critical technology platform to propel the bank’s operations with new thrust and direction. The bank also implemented Kondor – a......

Words: 1746 - Pages: 7

Premium Essay

Sms Texting

...SMS Messaging In my English 1301 class, all of the students have not only adapted to the rising technology, but they have embraced texting to the point where they have become entirely dependent on it. Communicating has become more prompt and convenient then it has ever been before. Starting with basic e-mails to instant messaging on famous websites, like Facebook or Twitter. However, these abbreviations are starting to affect the way people communicate with one another and their writing skills. Users of these abbreviations are becoming more, and more psychologically depend on it. When a person sends a text message, it is usually in a modern language that originated from online when chatting. Users have adapted this shorter, quicker abbreviated way of messaging in order to gets their point across in 140 characters or less. Just because something is easier, quicker and shorter is not also right, and it is starting to affect people psychologically and their able to mental write simple paper. Text massaging abbreviations is inappropriate for school, work and formal writing assignments. A user needs to know the difference in how to use formal vs. informal writing that predates text messaging. An individual can ask anyone that has a cell phone, and that person would say, “That they would rather text someone than call”. Why would someone rather text than speak to that person. When a user uses abbreviation, they overlook most of what they have learned about how to properly......

Words: 1038 - Pages: 5

Premium Essay

Banking

...Hawassa University College of Business and Economics School of Management and Accounting Assessing the impact of Core Banking and service quality on Customer Satisfaction in Commercial Bank of Ethiopia (A case of Bishofftu Branch) By: Endalkachew Abebe A research project submitted in partial fulfillment of the requirement for masters of business administration degree in marketing Management June 2013 Hawassa, Ethiopia 1 Hawassa University College of Business and Economics School of Management and Accounting Assessing the impact of Core Banking and service quality on Customer Satisfaction in Commercial Bank of Ethiopia (A case of Bishofftu Branch) By: Endalkachew Abebe A research project submitted in partial fulfillment of the requirement for masters of business administration degree in marketing Management Advisor: Dr. Birihanu Borji (PhD) Associate professor in Marketing Mgt Co advisor: Seid Mohamed (Ato) June, 2013 2 Hawassa University School of Graduate Studies Project Title: Assessing the impact of core banking and service quality in CBE (case of Bishoftu branch) By: Endalkachew Abebe College of Business and Economics School of Management and Accounting Postgraduate Program Approved by: ___________________________________ _____________________ Advisor Signature ____________________________________ Co-advisor __________________ Signature ___________________________________ ___________________ Examiner Signature ___________________________________ ...

Words: 23487 - Pages: 94

Premium Essay

Banking

...Background of IBBL: 12 CHAPTERFOUR: FOREIGN EXCHANGE OPERATION 49 OF IBBL 49 4.2 FOREIGN EXCHANGE: 49 4.3 Functions of Foreign Exchange Department: 50 Exports: 50 LIST OF ILUSTRATION Executive Summary Islamic banking is relatively a new concept in the world. Before the inception of Islamic banking phenomenon, banks were institutes to be avoided by the millions of Muslims. Keeping aloof themselves from banking, Muslims began to loss their market in the world economy. As the competition the business world became more and more severe, businesspersons had no alternative banking premises and many of them were getting involved in the traditional banking. However, the traditional banking is based on interest, which is fully prohibited in Islam. To overcome this problem, Muslim scholars, philosophers, economists etc. were thinking to establish a new interest-free banking structure right from the 1940’s. At last, they succeeded to formulate an appropriate Islamic banking structure. Many previous studies have been done in this regard. Islam is a complete code of life. It does not allow anything to be done in unislamic. So Islamic banks do not give more importance only on earning profit but also try to ensure social welfare in terms of its activities. Collecting foreign remittance is one of the important functions of the......

Words: 16926 - Pages: 68

Premium Essay

Sms Ads

...and Response to SMS Advertising Kyle Jamieson This thesis is presented for the degree of the Master’s of Philosophy of Curtin University 1     March 2012 DECLARATION   To the best of my knowledge and belief this thesis contains no material previously published by any other person except where due acknowledgement has been made. This thesis contains no material which has been accepted for the award of any other degree or diploma in any university. Signed 25/03/2011 2       ABSTRACT     The rising market penetration of the mobile phone and rapid increase in wireless technology represent significant opportunities for advertisers to reach consumers. Mobile phone advertising has emerged as one of the fastest growing advertising mediums in recent times, and this rise is being led by Short Message Service (SMS) advertising. Despite the growing number of worldwide companies adopting SMS advertising, very little is understood about consumer reactions to this medium. In particular, little academic research has been conducted on consumers’ acceptance of this medium and their behavioural responses to advertising messages. In addition, researchers have thus far been unable to identify the impact of culture on acceptance and response to SMS advertising. This research aims to bridge the gap between academic knowledge and advertising practice by testing five potential drivers of consumer acceptance of SMS......

Words: 45852 - Pages: 184

Premium Essay

Service on Sms

...any of the following prohibited activities: (i) copying, distributing, or disclosing any part of the Services in any medium, including without limitation by any automated or non-automated "scraping"; (ii) using any automated system, including without limitation "robots," "spiders," "offline readers," etc., to access the Services (except that GoButler grants the operators of public search engines revocable permission to use spiders to copy publically available materials from http://www.gobutlernow.com for the sole purpose of and solely to the extent necessary for creating publicly available searchable indices of the materials, but not caches or archives of such materials); (iii) transmitting spam, chain letters, or other unsolicited email, SMS, or other messages; (iv) attempting to interfere with, compromise the system integrity or security or decipher any transmissions to or from the servers running the Services; (v) taking any action that imposes, or may impose at our sole discretion an unreasonable or disproportionately large load on our infrastructure; (vi) uploading invalid data, viruses, worms, or other software agents through the Services; (vii) collecting or harvesting any personally identifiable information, including account names, from the Services; (viii) using the Services for any commercial solicitation purposes; (ix) impersonating another person or otherwise misrepresenting your affiliation with a person or entity, conducting fraud, hiding or attempting to hide......

Words: 4713 - Pages: 19

Free Essay

Sm Entertainment

...SM Entertainment, which is the one of largest entertainment companies in Korea. In the past decades, SM creates numerous world-class artists like BoA, Girls’ Generation, Super Junior, etc. In this article, the author illustrates the company and how SM company uses these artists to achieve its business goal. We can also see why Korea becomes a huge entertainment empire in such a short time. From this passage, I get three main reasons which can explain what makes SM so powerful. Firstly, SM coined its own music and performance style called SMP genre. The author also explains this term via some artists of SM like H.O.T, Super Junior. SMP genre is the unique element that sets SM apart from the others in the industry. SM created the term in the mid-90’s with H.O.T, SMP combines rock and R&B with hip-hop beats allowing for very strong dance performances. The music videos are more important than the music. They are attractive enough to make a person’s head spin with insane dance routines, and more sparkly bells-and-whistles fanfare than you even imagine. SMP genre not only works for the domestic audiences but also letting worldwide fans indulging themselves in the business. The author also explains how Chinese, Japanese and French fans are crazy for those young boys and girls. Music and performances aside, fan culture helps SM to establish the empire by leaning on the power of Chinese and Japanese fans. H.O.T is a great example to show this effect. As the label’s very early idol...

Words: 1004 - Pages: 5

Premium Essay

Branchless Banking

...UBL Omni Branchless Banking UBL Omni now brings a host of banking services to your nearest "Dukaan". UBL Omni Dukaans are located in more than 100 cities and towns across Pakistan. This is a major milestone in the evolution of banking that will reshape the traditional banking model by offering basic banking services across urban and rural Pakistan, well beyond the regular branch networks of banks. Customers across Pakistan can now open a UBL Omni bank account at any UBL Omni Dukaan of their choice, whether close to their home or place of work, by using their CNIC number and mobile phone number - their mobile phone number will effectively become their bank account number irrespective of which service provider they use. UBL Omni account holder will subsequently be able to deposit and withdraw cash, make utility bill payments, send or receive money, purchase mobile card vouchers, make postpaid mobile bill payment and much more by using diversified array of convenient channels which includes UBL Netbanking/ WAP, SMS, Contact Centre or ATM. No longer will they have to visit a bank branch to conduct their basic banking transactions nor will they be limited by standard banking hours. People without a UBL Omni bank account will also be entertained at a UBL Omni Dukaan where they can make utility bill payments, send or receive money, purchase mobile card vouchers and make postpaid mobile bill payments. Bills Payment Why stand in long queues or worry about payment......

Words: 2409 - Pages: 10