Mobile and banking services integration

The banking services in India are to be integrated with mobile channel. State Bank of India (SBI), Bank of India and Union Bank of India are going to introduce the services in the nearest future.

Mobile banking from SBI is planned to be introduced in the second half of July. The company at present time is searching for a suitable SMS-aggregator for the services.

Account-to-account money transfer, utility bill payments and account-related queries will be available with mobile banking platform.

17.5 million customers of Bank of India are expected to subscribe to the new services to be offered by the bank under the partnership with BillDesk. The total number of the bank’s consumers amounts 25 million.

And this is not the end as more nationalized banks as well as private sector banks are planning to join mobile banking market.