{"id":1877,"date":"2023-10-09T09:00:41","date_gmt":"2023-10-09T02:00:41","guid":{"rendered":"https:\/\/easylink.id\/?p=1877"},"modified":"2024-06-07T15:33:21","modified_gmt":"2024-06-07T08:33:21","slug":"mobile-banking","status":"publish","type":"post","link":"https:\/\/easylink.id\/en\/mobile-banking\/","title":{"rendered":"Mobile Banking: Definition, Features and How it Works"},"content":{"rendered":"

We cannot deny that the digital era has brought about various breakthroughs, one of which is the emergence of mobile banking.\u00a0<\/span><\/p>\n

This smart application is gaining popularity due to the convenience and ease it offers. What is the greatness behind the term \"mobile banking\"? Follow the explanation of what mobile banking is below.<\/span><\/p>\n

Definition of Mobile Banking<\/b><\/h2>\n

Mobile banking<\/span> is one of the magical technological discoveries that can make it easier for you to perform transactions such as paying bills, transferring money, checking balances, and even managing savings just by swiping the screen of your smartphone.<\/span><\/p>\n

According to OJK<\/a> (Financial Services Authority), mobile banking or m-banking<\/em>, is a banking transaction service through a mobile phone in the form of m-banking<\/em> applications or built-in applications.<\/p>\n

Imagine having your own personal bank that is always ready to serve you, even when you are on the go. Mobile banking changes the way we deal with money, making everything faster, easier, and, of course, more enjoyable!<\/span><\/p>\n

Mobile Banking Features<\/b><\/h2>\n

Mobile banking also offers various useful features. There, you can not only check your balance and transaction history but also view current interest rates, find the nearest ATMs and branches, and manage various aspects of your finances.\u00a0<\/span><\/p>\n

However, it doesn't stop there, mobile banking allows you to transfer funds, pay regular bills such as electricity and water, purchase phone credits, and various other transaction features.\u00a0<\/span><\/p>\n

All of these can be accessed easily and quickly through your smartphone's touchscreen. With mobile banking, your financial matters become more efficient and accessible.<\/span><\/p>\n

How It Works<\/b><\/h2>\n

For those of you who have never tried using mobile banking, the first step you need to take is to register with your chosen bank's mobile banking service. Once registered, you can access the menus through the mobile banking application installed on your phone.\u00a0<\/span><\/p>\n

No need to worry, downloading and installing the mobile banking application can be done quickly. <\/span>When you open the mobile banking application, enter your User ID and password to access your mobile banking. And, of course, every transaction requires an OTP (One-Time Password) for added security. With mobile banking, all your financial transactions are no longer a secret.<\/span><\/p>\n

Read Also: Open Banking: Definition, Benefits, Examples, and Risks<\/a><\/strong><\/p><\/blockquote>\n

Functions<\/b><\/h2>\n

In addition to making it easy for you to check your balance and transaction history, here are some other functions of mobile banking that you should know:\u00a0<\/span><\/p>\n