savramesh 37 Report post Posted January 21, 2010 Source KOLKATA: The country's largest bank, State Bank of India (SBI), which was among the first government banks to launch mobile banking services, claims to have developed the technology to support low-end /entry level mobile handsets for banking transactions. SBI's deputy managing director (IT) A Krishnakumar, said. SBI is working with its service provider, Spanco Telesystems, towards this. Till recently, only SBI customers with smartphones had access to the facility. SBI's decision to stress on alternate banking channels comes at a time when Reserve Bank of India (RBI) raised the ceiling on mobile banking transactions to Rs 50,000 per day from Rs 5,000 a day. "About 25% of banking transactions at SBI now happen using alternate channels like ATMs, internet/mobile banking and the ratio will rise further," Mr Krishnakumar said. He also indicated that SBI had teamed up with IBM for building a data-mining system for effective use of customer-centric information. "We have already launched the project," Mr Krishnakumar said here on Wednesday, on the sidelines of an IT event in the city. "Earlier, we faced difficulty in offering mobile banking facilities to our customers with low-end handsets. But now we have overcome this. We specifically asked Spanco to develop solutions for any new handsets that hit the market cutting across the price range." By using the mobile banking facility, SBI customers will be able to transfer funds using NEFT, check their account balance, get mini statements, place cheque book requests, pay utility bills and even insurance premium. SBI, however, did not share any numbers relating to its mobile banking customers, but the official indicated that the number is on the rise in the metros and urban centres. "We are adding thousands of mobile banking customers every day," he said. Recently, a leading service provider said more than 50% of its account holders are slated to come under this platform in the next five years, following the RBI's move. The country's mobile connections are expected to breach the 50-crore mark by 2010. Share this post Link to post Share on other sites
Greatest 55 Report post Posted January 21, 2010 Mobile banking is the future... nice step by SBI... Share this post Link to post Share on other sites
::Hitesh:: 1,763 Report post Posted January 21, 2010 Any news about which handset it will support, As in low end handsets there are different Software. Every company used there own software. As per my info SPANCO was operating call center for BSNL. Share this post Link to post Share on other sites
