Loading the player...

DEFINITION of 'Mobile Banking'

Mobile banking is the act of doing financial transactions on a mobile device (cell phone, tablet, etc.). This activity can be as simple as a bank sending fraud or usage activity to a client’s cell phone or as complex as a client paying bills or sending money abroad. Advantages to mobile banking include the ability to bank anywhere and at any time. Disadvantages include security concerns and a limited range of capabilities when compared to banking in person or on a computer.

BREAKING DOWN 'Mobile Banking'

Mobile banking is very convenient in today’s digital age with many banks offering impressive apps. The ability to deposit a check, to pay for merchandise, to transfer money to a friend or to find an ATM instantly are reasons why people choose to use mobile banking. However, establishing a secure connection before logging into a mobile banking app is important or else a client might risk his personal information being compromised.

RELATED TERMS
  1. Mobile Advertising

    Mobile advertising is a method of advertising that appears on ...
  2. Enterprise Mobility

    Enterprise mobility describes a trend in business where work ...
  3. Mobile Payment

    Money rendered for a product or service through a portable electronic ...
  4. Mobile Wallet

    Mobile wallet is a virtual wallet that stores payment card information ...
  5. Android Operating System

    A mobile operating system developed by Google. The Android operating ...
  6. Mobile Trading

    The use of wireless technology in securities trading. Mobile ...
Related Articles
  1. Tech

    The Future Of Mobile Banking (JPM, BAC)

    Typically slow to react to technological change, retail banks are finally recognizing the benefits it provides to consumers as well as the cost savings it gives the firm.
  2. Personal Finance

    What Are The Best Mobile Banking Apps?

    As a society we expect to have 24/7 access to everything in our lives, our bank accounts included.
  3. Insights

    Cell Phone Evolution

    Follow the evolution of cell phones from 20 pound bricks to the sleek smart phones of today.
  4. Insights

    Mobile Money: Using Your Cell Phone To Transfer Funds

    Are you up to date on how easy it is to move your money around with your cell phone?
  5. Tech

    China Mobile: Just How Big is It? (CHL, CHU, CHA)

    The story behind China Mobile, the biggest company you might never have heard of.
  6. Tech

    Why Advisors Must Create a Mobile Strategy NOW (AAPL, GOOG)

    Mobile devices will replace laptops and desktops. Financial advisors must deal with this revolution to ensure their marketing strategies are up to speed.
  7. Investing

    China Mobile Endures Downgrades (CHL, CBSH)

    While investors like Commerce Bank sells shares, China Mobile retains footing in 4G space, anticipates expansion.
  8. Investing

    Mobile Overtakes Desktop In Internet Usage

    While the desktop still rules in North America and Europe, mobile internet is especially popular in Asia and Africa.
  9. Investing

    Mobile and Tablet Website Viewing Surpasses Desktop For the First Time

    October saw more websites viewed through mobile devices than desktop computers, for the fist time ever.
  10. Investing

    Mobile Advertising to Surpass Desktop in 2017

    Arriving a year earlier than previously predicted, mobile advertising will overtake the desktop advertising spends in 2017
RELATED FAQS
  1. How do I calculate how long it takes an investment to double (AKA 'The Rule of 72') ...

    Find out more about the rule of 72, what the rule of 72 measures and how to calculate the rule of 72 for investments using ... Read Answer >>
  2. 3 Tips to Refinance a Mobile Home Loan

    Refinancing a mobile home loan is possible if the borrower meets certain criteria. Here are a handful of useful tips on refinancing ... Read Answer >>
  3. How does Facebook (FB) make money?

    Examine third quarter 2014 revenue data for Facebook and increases in advertising, mobile advertising, daily active users ... Read Answer >>
  4. What is the difference between an investment and a retail bank?

    Learn the primary differences between retail banks and investment banks by examining the business activities, type of clients ... Read Answer >>
  5. How can you calculate Value at Risk (VaR) in Excel?

    Learn what value at risk is, what it indicates about a portfolio and how to calculate the value at risk of a portfolio on ... Read Answer >>
Hot Definitions
  1. North American Free Trade Agreement - NAFTA

    A regulation implemented on Jan. 1, 1994, that eventually eliminated tariffs to encourage economic activity between the United ...
  2. Agency Theory

    A supposition that explains the relationship between principals and agents in business. Agency theory is concerned with resolving ...
  3. Treasury Bill - T-Bill

    A short-term debt obligation backed by the U.S. government with a maturity of less than one year. T-bills are sold in denominations ...
  4. Index

    A statistical measure of change in an economy or a securities market. In the case of financial markets, an index is a hypothetical ...
  5. Return on Market Value of Equity - ROME

    Return on market value of equity (ROME) is a comparative measure typically used by analysts to identify companies that generate ...
  6. Majority Shareholder

    A person or entity that owns more than 50% of a company's outstanding shares. The majority shareholder is often the founder ...
Trading Center