Diff erences
between
Mobile Banking
and
Internet Banking
Presented by - Rohit
Solanki
Key Differences between Mobile Banking
and Internet Banking
Accessibility: Mobile banking requires a mobile device and internet
connection, while internet banking requires a computer or laptop
with internet access.
Availability: Mobile banking can be accessed anytime and
anywhere, as long as you have a mobile network or Wi-Fi
connection. Internet banking offers similar flexibility, but you
need internet access and a compatible device.
Services: Mobile banking offers basic services like checking
balances, transferring funds, and bill payments. Internet
banking provides a wider range of services, including loan
applications, investment management, and access to detailed
financial statements.
User Interface: Mobile banking uses mobile apps or mobile-
optimized websites, providing a user-friendly interface.
Internet banking relies on internet browsers and various
banking websites, which may have different interfaces.
Security: Mobile banking employs secure authentication methods
such as PIN, biometrics, or two-factor authentication. Internet
banking relies on usernames, passwords, and additional security
measures like one-time passwords or security tokens.
Transaction Limits: Mobile banking may have lower
transaction limits compared to internet banking. Internet
banking typically offers higher transaction limits, depending
on the bank's policies.
Additional Features: Mobile banking may include features like
contactless payments, QR code scanning, or mobile check
deposit. Internet banking offers features like online shopping,
payment gateways, and integration with third-party services.
Convenience: Mobile banking provides on-the-go banking,
allowing users to manage their finances from anywhere. Internet
banking offers the convenience of banking from home or office,
without the need to visit a physical branch.
What is Mobile Banking?
Mobile banking refers to the use of mobile
devices, such as smartphones or tablets, to
perform banking transactions and access
financial services. It offers convenience and
flexibility by providing on-the-go banking
capabilities. Mobile banking apps or mobile-
optimized websites allow users to check
account balances, transfer funds, pay bills, and
perform other basic banking functions directly
from their mobile devices.
Advantages of Mobile Banking
Convenience: With mobile banking, you can access your bank
accounts and perform transactions anytime and anywhere,
eliminating the need to visit a physical branch.
On-the-Go Banking: Mobile banking allows you to manage your
finances while you're on the move, making it convenient for busy
individuals.
Quick and Easy Transactions: Mobile banking offers fast and hassle-
free transactions, enabling you to transfer funds or pay bills with
just a few taps on your mobile device.
Account Monitoring: You can monitor your account balances, track
transactions, and receive real-time notifications on your mobile
device, helping you stay updated on your finances.
Enhanced Security Measures: Mobile banking apps provide secure
authentication methods, such as biometrics or two-factor
authentication, ensuring the safety of your financial information.
Disadvantages of Mobile Banking
Dependency on Technology: Mobile banking relies on technology,
and any technical issues or system failures could temporarily disrupt
access to banking services.
Limited Functionality: Mobile banking apps may have limitations
compared to internet banking, especially when it comes to
accessing complex financial services or detailed financial
statements.
What is Internet
Banking?
Internet banking, also known as online banking or
web banking, refers to the use of internet-based
platforms to access banking services and conduct
financial transactions. It allows customers to
perform a wide range of banking activities,
including account management, fund transfers, bill
payments, and online shopping, using a computer
or laptop with internet access.
Advantages of Internet Banking
Convenience and Accessibility: Internet banking allows you to
access your accounts and perform transactions at any time and
from anywhere with an internet connection.
Wide Range of Services: Internet banking offers a comprehensive
suite of financial services, including loan applications, investment
management, and access to detailed financial statements.
Flexible Account Management: You can manage multiple
accounts, view transaction histories, and customize account
preferences easily through the online banking interface.
Disadvantages of Internet Bankin
Need for Internet Access: Internet banking requires a stable internet
connection, and any disruptions in connectivity can hinder your
access to banking services.
Technical Issues: Internet banking platforms may occasionally
experience technical glitches, system maintenance, or downtime,
which can temporarily affect your ability to perform transactions.
Potential Security Risks: Despite security measures, internet banking
can be susceptible to online threats such as phishing attacks, identity
theft, or unauthorized access to accounts.
Thank
you
