MOBILE BANKING TRANSACTION

PRAKRITI MANANDHAR ROJEJ SHRESTHA RONISH THAPA ROSINA SHRESTHA

 Introduction
Service provided by BFIs.
Customer-touching application.
Perform banking activities through mobile devices.
Balance Inquiry
Bank Statement
Utility Payments
Fund Transfer
DMAT Statement
And So On
Not to be confused with mPOS ( Mobile Point of Sale)
 Phases of Mobile Banking
SMS Banking, earliest module of mobile banking.
Used Syntax; For Eg: EFT for Electronic Fund Transfer.
In 1999, WAP support enabled cellular phones.
Mobile web
After 2010, Iphone and Android smartphones.
Mobile Applications
User friendly
 Steps in M-Banking Transaction
Step 1
SMS In
For Eg: FT 1553 10000, 001xxxxxxx005NS

SN Date & Time Syntax Mobile No.

1 09/07/2016 FT xxxx 10000, 9816300393
11:09:07 001xxxxxxx005NS
2 09/07/2016 BI xxxx, 9860137659
14:25:35 001xxxxxxx005NS
 Step 2
Subscription Check

SN Mobile Account MPIN TPIN Device ID Privileges

Number Number

FT BI MP
1 9816300393 001xxxxxxx Xxxxxx xxxx xxxxx
002NS x

2 9860137659 001xxxxxxx xxxxxx xxxx xxxxx

005NS x
 Step 3
Customer Table (CBS)

SN Account No. Account Balance Account Type Status

Holder Name
1 001xxxxxxx00 Ram Lal 20,900.69 NS Active
2NS Chaudhary
2 001xxxxxxx00 Pogo Karki 40,817.89 NS Active
5NS
 Step 4
SMS OUT

SN Date & Time Mobile No. Message

1 09/07/2016 9816300393 Dear Customer, your
11:10:07 fund transfer operation
has been successful..
2 09/07/2016 9860137659 Dear customer, your
11:11:09 account has been
credited by NRs. 10,000
via FT002
3 09/07/2016 9860137659 Dear Customer, your
14:25:55 available balance is
NRs.xxxxx
 Esewa
The leading payment gateway in Nepal.
NIBL, iPAY, SBI.
Link up around 19 A class commercial banks
Inter Bank Fund Transfer.
Banks under its network.
RTGS
Real Time Gross Settlement
 Bank Smart
F1Soft International Pvt. Ltd, FinTech company
Two Factor Authentication
GPRS channel -> Device ID, Login Credentials, Transaction PIN
SMS channel -> Mobile number, MPIN
One App One Device.
Combines Mobile Banking, Internet Banking and website into a single platform.
Forced Password Change Policy.
Password Format and History.
Encryption
Encrypted in Public Network and Decrypted in Bank Smart Server.

Service Block
Max nos of incorrect login credentials.
Incorrect MPIN & TPIN attempts.
 Advantages
Mobile banking helps in making several banking tasks easily available at
any place. These tasks include checking account balance, transferring
money from one account to another, finding an ATM, viewing account
statements, paying bills, etc.

Features:
It is convenient
Helps in keeping control
It is secure
It is cost effective
 Challenges
Handset operability(SIM application toolkit or only SMS)
Security-
-remote hacking
-interference via the internet or telephone network data stream.
Scalability and reliability.
Application distribution(so called over the air updates)
 But
One Window Service.
Utility payment routes through Esewa only.
F1 Soft earning easy money.
Cost Effective Mobile Banking.
Integration of vendors
Using Ad as an source of revenue.
Free SMS
To limited extent

CIA (Confidentiality, Integrity & Availability) of transaction Data.

F1 Soft being a private company.
THANK YOU