Introduction

Mobile banking is the way of making financial transactions with the support of the mobile. It is defied that mobile banking is the easiest process to send money abroad with full protection. Mobile banking has both advantages and disadvantages as it provides huge support to the customers so that they feel comfortable while sending their money abroad. Nowadays mobile banking is the most convenient way to transfer money to friends, merchants, and any other person with the support of the device. The banks provide a security code to the customers so that they can log in to the application with the help of that code. The client also needs to have a secure connection before utilizing the net banking application as many fraudulent activities occur while using net banking facilities in mobile phones. Nowadays the cybersecurity is well developed to protect the personal information of the clients properly so that they can perfom the tasks in mobile banking easily. The banks also charge a minimum amount for net banking and this saves the time of the customers and they feel safe while using the newt banking benefit. The connection needs to be private and secure so that no one can hack the personal information of the clients. The usage of the public networks while doing payments may result in thefts of money and this will affect the personal information of the clients. It provides various services to the customers with the help of mobile banking as the customers can perform everything by sitting at their home. This also supports the customers to receive the funds directly into their mobile numbers and this is the best way to save time and be casual while making payments. The banks providing satisfaction to the customers so that they feel safe while making the payments. 

Body

The mobile banking technology supported the clients to open their accounts by sitting at their homes. It also provides support to the customers while making any fixed deposit or anything else as it also reveals the interest rates with the support of the mobiles. The customers can also purchase anything and can order cheque books and debit cards with the help of a mobile banking application. This also makes the customers comfortable and encourages them to use advanced mobile banking technology. According to the research, it is identified that a maximum number of clients reveal that it will be useful if the user of mobile banking applications is much easier. The mobile banking app also supports the customers to make payments easily. Many essay writer observed that till now many people are not relaying with mobile banking applications due to huge risks. Mobile banking also provides opportunities to the clients to know their account balance by entering into the application. The clients can also access everything in the application with the support of the OTP (one-time-password). This is the most credential thing that the customers need to protect. If this gets revealed the customer will face a huge problem and fraudulent activities will occur.

Importance Of Mobile Banking

The banks provide support to the businessman to save their time and perform the tasks appropriately with the support of mobile banking applications. This is best for small and medium scale businesses as they can transfer huge amounts of money to any other account easily with the help of mobile banking applications at zero cost. It provides huge satisfaction to the customers and makes them feel comfortable while making transfers. Financial transactions become very easy for people with the help of mobile banking applications. Mobile banking also supports the customers to apply for ATM cards and cheque books in the apps. This is also known as doorstep banking. The banks also provide the idea regarding the interest rates to the customers so that they feel comfortable while investing their money with the support of the bank. It is also defied that the indispensable usage of tablets and mobiles encouraged people to use mobile banking services. These services support the customers to make their payments easily and effectively. It is also defined that if the customers face any problems regarding mobile banking services they complain to the bank regarding it. They also provide ideas on how to develop the design of the application and improve the services. It is also identified that around 60% of people like to use mobile banking services to make their banking-related tasks easily and effectively. Nowadays the use of mobile banking services is important as well as dangerous. The people who use mobile banking services reveal that it is somewhat safe. According to the banks, and assignment help UAE it is enumerated that the services need to be used by installing particular applications of the bank. The customers must not use any type of browser while using mobile banking services.  

Advantages Of Mobile Banking

The advantages of mobile banking are enumerated below:

• The mobile banking service is the best way to save time and make banking-related tasks more convenient. It is identified that a maximum number of people like to perform their tasks in mobile banking applications as they don’t need to go to the bank and stay in a line for their turn to come. The mobile banking application can be accessed 24*7 and this makes the clients comfortable using the mobile banking services. In this covid situation, the people can keep their health safe by not reaching into the banks and this reduces the time of the client. The customers can also perform everything related to the bank by staying at home and can send money to any corner of the world.
• The online mobile banking application also supports the customers to optimize their money. It is enumerated that optimization helps the customers to think less about their money and this improves the spending of the customers. The spending of the customers also gets high due to online banking services as they don’t think about the money more. This also improves the lifestyle of the person easily. This also maintains a proper transaction in the bank of the customers. The customers also receive proper information from the application. They don’t have to call the branch to gather any information. The money of the customer also remains safe in online banking services. Get to know more about online banking and central banks protocols from plagiarism free assignment help Kuwait of ArabEssay
• The security level in mobile banking apps is high nowadays. The customer can protect the data of the banking application by maintaining fingerprints and face locks. The bank provides a username and password to the customers but for more advanced protection the customers keep fingerprints and face lock to protect the data so that if the device gets lost then the person who will get it cannot open the device and cannot make any transactions. The banking applications also provide the location of the transaction to find the fraud easily. Nowadays the utilization of online banking services is increased highly. 55% of people utilize online banking services.
• The benefit of paying IOUs is also there in online banking services. The customer can pay someone within some minutes if they know the name and email address, of the person. The online mobile banking application also provides safe and secure services to customers. The bank across the country has a link with Zelle through which the customers can easily send money to anyone by staying at their home. The bank also provides a refund if the money does not enter into the recipient bank./ this is the best way to keep the money safe. The routing and account number also support the customers to send money to anyone with the help of the application.
• The control of spending also remains with the customers. As the customer has the remote control of his/her money. The customer can send money to someone whenever wishes and this saves them time and this the most convenient way to send money to someone. In some banks, the customers also get the facility of activating new debit or credit cards from the applications, and this supports the customers to do everything by staying at home. According to the research, it is identified that in this Covid situation the online banking services are the most effective way to perform the transactions.
• Mobile banking services also provide tailored options to customers. As if they like to change the name of a dead person from the bank account they can easily apply in the applications and within some hours they can change the name. This is hassle-free. The mobile banking application also solves the problems related to money transaction and make the customer comfortable and encourages him to choose online banking services. The customers can also apply for a cheque book with the help of a mobile banking application. The customers can also create fixed deposit account with the help of online banking services.  
• The clarity regarding the financial data is also provided to the customers. The customers get proper information regarding the transactions and they get to know where their money is going and this makes them alert regarding lower their expenses. The bank also maintains the information related to the applications which have the data of the customers and provides the details of the application where their bank details are given. So, that the customer remain alert and this protect the money of the customers and encourage them to utilize net banking services. The bank also provides proactive control to the consumers so that they know where their money is whether it is safe or not safe.

According to recent research conducted by essay writing help professional, it is identified that a maximum number of people like to use net banking services to save their time and to reduce the public gathering. As it is observed that in this pandemic situation people need to maintain social distancing so net banking s the better idea to maintain this as customers can perform their banking activities by staying at their home and can transfer money in any corner of the world. The banks also charge a nominal amount for transferring money and make this convenient so that every people can perform it. This also reduces the workload of the bank employees and they also feel comfortable while performing their tasks. The amount of money that is charged to the customers is very low and every person can afford it. Mobile banking is also a very popular method as through it the balance can be checked. The customers can watch their accounts 24*7 so there is a low rate of fraud. The customers also protect their accounts with face lock and pattern and with Id and password given from the bank. This encourages the customers to perform net banking as it is the easiest way to do banking activities.       

Risks Associated With Mobile Banking Technology

The risks associated with mobile banking technology are:

• Fraudulent activities are the things that may occur while performing mobile banking. The customers may face problems when they lose the device the criminal gets access to the mobile banking of the customers and due to this, fraudulent activities occur.
• The bank also charges a significant charge for the users who use mobile banking regularly and this also reduces the money of the customers and they face a huge problem.
• Hackers can easily hack mobile devices and can access the mobile banking of customers and due to this many theft cases occurs. The hackers gain more by doing simple work as there are 4.5 million computers and 1.5 million mobile so it is not that difficult to hack the mobile devices.
• Many fraud SMS also comes in the mobile phones and many cases, the customers perform the activities without thinking and it affects the bank balance of the customers and this reduces the money of the customers.
• In the rural areas, the mobile banking application cannot be accessed as it requires a high internet connection and in those rural areas the connectivity is very low so the people cannot access the mobile banking application in that case.
• The encryption security of the technology must be there to protect the personal information of the customers. The customers of the bank need to observe that whether the bank technology has encryption security or not. There is a huge chance of interception if there is no encryption security. According to assignment helper hackers can hack the device with the help of public wifi. The banks need to invest more money in encryption security technology. 
• The viruses like trojans may affect the banking transaction of the customers. The trojan virus affects the full device and due to this, fraudulent activities occur while performing the banking transactions. The personal information of the customers is accessed by hackers and this increases the theft cases related to money.

It is also derived that mobile banking is the best way to make the banking services more convenient and support the customers to get banking at their doorsteps. It is also enumerated that mobile banking is the most secure way to perform banking activities and transfer money from any corner of the world. The bank website provides every detail to the customers so that they can access the banking through mobile phones. It also supports the customers to become cashless and this makes the digital country. Customers can utilize this service as it is the fastest way to perform financial transactions. The password and the user Id protect the personal data of the customers and make them feel comfortable while performing using mobile banking technology. It is also discussed that mobile banking has both pros and cons as it supports the customers to save their time and to get their banking services at their home. The banks also provide customer service to the customers to solve the problems which they face while performing mobile banking services. It is the most convenient way to perform financial transactions. The customers also get the messages related to the debit and credit of the money immediately so that the customers remain alert regarding their money. The banks also utilize various technologies to support the customers to get a proper connection while using the mobile banking technology as the lack in the network will affect the bank balance of the customers. According to recent research, it is identified that 61% of people in the world prefer mobile banking technology as they find it comfortable for them and they can transfer the money to any corner of the world. The customers also get the benefits of entering the number of the beneficiary and can send the money by clicking one option. It is also defined that mobile banking also increased the rate of fraud cases as the customer lose their money due to a huge number of criminals. So, the banks included cybersecurity to protect the data and stops criminals to make money from the customers without any reason. It is the best way to protect the money. The banks also included the encryption program within the server so that no one can take the personal information of the customers. You can get latest information on mobile banking and refined risks associated with it from instant assignment help ArabEssay.

Conclusion

It is concluded that in the above essay the information related to the risks and benefits of mobile banking technology is provided. The information related to how the customers face problems and how they can mitigate the problem is enumerated. It also includes the information based on the technologies that the banks utilize to protect the personal information of the customers are also discussed. Mobile banking technology also occurs in many fraud cases due to which the customers face huge problems regarding their money. It is identified that a maximum number of people like to perform mobile banking so that they can keep their money protected. The mobile banking technology also utilizes an encryption program to protect the money from getting breached. The banks also update their system to keep them protected every time and make the customers feel safe. In many cases, the fraud messages also come in the devices of the customers and due to this, the customers lose their money. It is also recommended that the customers need to observe whether the banks have encrypted services or not before operating mobile banking technology. It is also explained that the customers need to be alert always while making payments. This provides huge benefits as it supports the customers to take banks to their doorsteps.