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Select a well-known bank. Select an emerging technology at the company (perhaps something like smart cards, teller-less banks or anything) and prepare a proposal to justify the need for this new technology in the organization. At a minimum, discuss what the technology is and how it works, benefits it will provide, and any potential negative aspects of the technology

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Select a well-known bank. Select an emerging technology at the company (perhaps something like smart cards, teller-less banks or anything) and prepare a proposal to justify the need for this new technology in the organization. At a minimum, discuss what the technology is and how it works, benefits it will provide, and any potential negative aspects of the technology

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Wachovia, one of the leading banks in the United States, has just introduced a Mobile Banking system for its customers by the name of "Wachovia Mobile".

Wachovia Mobile offers a user-friendly experience to Wachovia's online customers. The new service lets Wachovia customers view account balances, check account activity, and transfer funds using their mobile phones.

source: http://www.mobileburn.com/news.jsp?Id=2967&source=RSS

Let us discuss the concept of Mobile Banking or MBanking, as it is popularly known, its potential advantages and disadvantages in detail.

The last time that technology had a major impact in helping banks service their customers was with the introduction of the Internet banking. However the biggest limitation of Internet banking is the requirement of a PC with an Internet connection. Mobile banking addresses this fundamental limitation of Internet Banking, as it reduces the customer requirement to just a mobile phone. the main reason that Mobile Banking scores over Internet Banking is that it enables 'Anywhere Banking'. Customers now don't need access to a computer terminal to access their banks, they can now do so on the go - when they are waiting for their bus to work, ...

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Sandeep Bardia, MBA
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  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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