Articles, Banks and internet banks

South Korea sees a great growth among mobile banking customers. There are 2.5 million Woori Bank mobile banking subscribers with over 1 million of them using mobile VM (Virtual Machine) banking.

Who is the most successful in business? The one is always in motion, a mobile person. So, the business should also be mobile and flexible to please the customers. When mobility is the keyword, why banks should lag behind? To cope with the widespread fundas of flexibility and mobility, the banks also aced up their sleeves to offer the same to their customers.

Today people live on the Internet, date there, make purchases. No other industry is developing faster than the Internet. One can observe the boom of electronic commerce today. Internet banking is hot and mobile banking hotter. While the former brought our banks to our desktop, the latter has brought it right into our pocket.

In view of recession and mortgage crisis people do not trust banks no more. Or it better to say that they are still trusted but not as much as it was before. Especially since they have an alternative - mobile banking.

Mobile payment, still a nascent service, is expected to reach 32.9 million users worldwide in 2008 and grow to 103.9 million users in 2011, according to a study released by Gartner.

According to the predictions of the analysts the largest 50 US banks will launch some form of mobile banking this year.

As per Mr. Sievers, CEO of mFoundry, the process of mobile banking will consist of 4 phases including the first two ones within 2008, and finally will result in creation of "virtual wallet" from an ordinary cell phone.

The desire of many countries to find a cornucopia in the depths of national lands poor in minerals nowadays has turned for world economy into the appearance of earning institutes for such countries which we usually call the offshore countries.        

Having developed the mechanism of creation of tax paradise for the companies, many countries have constructed their business on

 As the international community has been drawn to Cyprus as an efficient, convenient and reputable offshore business center, the government has responded by upgrading its traditional banking system. Today the country provides the highest European standards of financial services to both individuals and the corporate sector, offering modern infrastructure, a diverse range of activities and maximum safety procedures.