A Model for Implementing Mobile Banking in Developing Countries (e.g. Nigeria)

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Author(s) IBIKUNLE Frank. A. | MAYO Zion. O
Pages 402-408
Volume 2
Issue 3
Date March, 2012
Keywords 2G/3G Systems, M-banking, E-banking, Mobile Phone, Recharge Card, SIM-based Server.

Mobile banking has developed over the years due to massive increase in mobile phones penetration globally. This however, has brought about significant social change in the way we approach things generally. It has transformed the banking culture in places like Kenya, Tanzania, Afghanistan, India, South America etc. This paper is projected to improve on the use of mobile phones as a communication device to a banking platform. It outlines the proposed third party banking solution through the mobile phone tagged mobile banking. The proposed solution here is a combination of a scratch card, (PIN generation), mobile phone, telecommunication network, SIM-based server and the Banking solution. This system gives more ease to users, making the bank to be on their palms, assures convenience, more security (avoiding cash at hand), reduced cost of money transfer, encouraging trusted banking culture, improving the use of technology and embracing better future.

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