Penetration of mobile services has crossed millions of mobile phone subscribers all over the world. The financial sector is one of the important elements that may benefit from enterprise mobility. Smart mobility has helped financial institutions to reach millions of customers through various mobile services. Mobile financial services (MFS) have leveraged many services, such as mobile money, mobile banking and mobile payment of utility bills along with cashless payments.
Making financial institutions reach customers worldwide through mobile services and how it is helpful to the finance industry.
“43 percent of mobile phone users with a bank account reported that they used mobile banking.”
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