Mobile banking has proven to be one of the extensions of innovation and technology that has been developing over the last decade. From 2014 to 2016, the use of mobile banking, for actions such as checking the balance of the account, increased from 28% to 44% in those two years, according to a study by Mobile Ecosystem Forum (MEF). We can include countries in Asia and Africa and banks in these countries that are betting on the mobile channel.
Such is the case of Malaysia, according to HSBC Bank Malaysia BHD, banks in this country have been investing in mobile banking apps in the last two years. They also ensure that banks are developing other security features such as facial or voice recognition, and service capabilities through artificial intelligence to determine user requirements in advance and so make recommendations.
It should be noted that this year Malaysia was designated the best country #35 of the «best countries» ranking from U.S. News & World report. This ranking is based among other elements such as «entrepreneurship» and «business openness», so this country has the potential to offer to the innovation sector.
On the other hand, Iran bets that in the near future all banking services are possible through mobile banking, as the CEO of Iran Electronic banking Promotion and Education Center (FABA) says. He also pointed out that the Iranians make 1.5 billion bank transactions per month, which translates into nothing more or nothing less than the need to further develop mobile banking.
It should be noted that Iran has a development plan in which it is proposed that for the 2025 should be one of the top countries of e-banking in the Asian region, so it has enough reasons to engage in the development of mobile banking.
Finally, another country in which mobile banking has developed and has caused a positive impact is Kenya. It is known that this is one of the African countries that has been in a crisis of poverty for several years. However, Tavneet Suri of MIT and William Jack of Georgetown University reported in a Wall Street Journal report that mobile banking has caused a positive impact on Kenyan’s lives.
In the last decade a network of kiosks has been created throughout Kenya where it is possible to deposit money without mobilizing so far. The change is positive because before that network, Kenyans had to spend an exorbitant amount of money, in terms of their economy, to deposit money.
Two other points are the fact that Kenyans can spend electronic money in any part of the country. On the other hand, according to an investigation by Tavneet Suri, women have managed to save more through this mobile banking prospectus.
There is still much to be done in the region, there are plenty of countries and banking institutions that adopt the mobile banking system as it reports speed, comfort and efficiency. In addition to other benefits such as the economic prosperity and development of a country.
In Tedexis we continue betting on innovation and technology as elements of benefit for society. Do you have an opinion? We would love to read it, leave it in the comments.
