In this order of ideas, the banking institution must select the types of services it desires to offer through mobile banking. The most common such applications include the ability to verify the balance in one's account and make transfers to other accounts. Additional applications could be made available to further increase customer satisfaction and these could include information on exchange rates or even the ability to convert one currency into another currency. Rajnish Tiwari and Stephan Buse (2007) mention the existence of three categories of services offered through mobile banking -- mobile accounting, mobile brokerage and mobile financial information services. The authors go on to explaining that while information services can be offered as independent services, accounting and brokerage are always dependent on information and will be offered in combination with the third set of data services.
4. IT and HR Resources
The role of the IT Department is crucial in the final success of the new banking service. The team of IT specialists is in change of a wide array of tasks, the most common ones being the actual development of the software application to link internal informational systems to mobile devices; collect and process information received from these sources or ensure maintenance and continual improvement of the system. It must however be noted that the IT department is in charge exclusively of the technical part of the mobile banking application, and the ultimate success of the system depends on the sustained efforts of other categories of bank employees as well. The financial team must for instance support the creation of a centralized database that contains clear, relevant and easily accessible information on the customers, their accounts, as well as any other financial information that might be required in the process. Then, the IT employees must continually collaborate with the staff members in the marketing department. The role of the later category is to research the market in order to identify new trends, new customer demands and needs that could be satisfied, as well as new strategies implemented by the competition. Through communications...
All in all, it can be argued that the mobile banking system requires the sustained assistance of all employees in the banking institution.
5.
Management Model
The managerial model varies from one organization to the other and is generally established based on internal characteristics. The mobile banking application will often base its managerial decision on the model used in the
leadership of its entire organization. As a recommendation however, it is necessary to perfectly integrate all components in the system. Furthermore, it is important to establish the priority of tasks based on adjacent departments, such as
Information Technology or Marketing. It is advisable to implement a horizontally integrated structure as this model increases employee on the
job satisfaction and the consequent performance levels.
6. Conclusions
In this rapidly changing world, a need for applications which improve the quality of our lives becomes more and more impending. The
banking sector has answered to this demand by offering quick solutions to their customers, such as the mobile banking applications. These allow clients to log on to their bank accounts from mobile devices and conduct various financial operations. The introduction of this application has not only come as a desire to satisfy the customer, but also as a necessity to overcome the growing competition. The
banking industry is a highly intense field, affected by numerous threats and highly sensitive to modifications in the micro and macro environments.
The success of the system depends directly on the capabilities of all staff members, mostly those in
finance, marketing and information technology.
