Saturday, August 8, 2015

Mobile Banking in Nigeria and Africa; What You Should Know !

According to WikiPedia, Mobile banking is a term used to refer to systems that allow customers of a financial institution to conduct a number of financial transactions through a mobile device such as a Smartphone or Tablet.

Note that Mobile banking differs from mobile payments, which involves the use of a mobile device to pay for goods or services either at a POS or remotely. The earliest mobile banking services were offered over SMS, a service known as SMS banking. Later on, the introduction of WAP enabled phones created a new era of using the mobile web in 1999, which prompted European banks to start offering mobile banking services to their customers.

Just a short period of time after, Apple's initial success with the iPhone and also the rapid growth of phones based on Google's Android (operating system) led to increasing use of special client programs, called Apps, downloaded to the mobile device. Furthermore, advancements in web technologies such as HTML5, CSS3 and JavaScript have seen more banks launching mobile web based services to complement native applications. But unfortunately, not even a single African country was found on the list of the top countries using mobile banking that was released few years ago, this shows that we are not really on top of our game when it comes to advancement in financial aspects, maybe because of the financial status of people living in Africa or probably due to some other reasons.

There is no doubt that with Mobile banking, life can be a whole lot easier especially with the introduction of robust high-end Mobile Banking Apps by some financial institutions, dispatched to various mobile platforms (stores) such as the
Blackberry World, App Store and Google Playstore for customers to download and use. As far as Nigeria is concerned, there is a great improvement in recent years when it comes to the usage of Mobile Banking Apps from top Banks. I hope to see Nigeria (and Africa as a whole) in the list of the top countries/areas using mobile banking.

You can go ahead, check the list of Nigerian Banks with their official Mobile Banking Apps here, download the App to your mobile phone, start using it and you'll experience how easy, simple and cool it is to be Banking on Mobile. No more long queues in the bank or at the ATM. 

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