This article does a survey of Mobile Banking and how it is developing to be one of the most widespread mobile commerce application.
It enumerates various mobile applications that major banks and similar financial institutions are rolling-off using this newfound medium of reaching out to their customers. Further it take's a look at what are the technologies that are driving the mobile applications in the banking industry. It also discusses, how mobile banking is helping banks cut costs and at the same time providing an additional source of revenue to mobile service providers.
Finally, we take a look at the need of financial institutions to understand the kind of mobile usage, in terms of technology, being practiced by their target customers so that they can decide on the best manner to ‘mobilize' their services.