WIRELESS E BANKING

[abhishreshthaa]

check this interesting information about WIRELESS E BANKING


Wireless E-Banking

• Wireless banking is a delivery channel that can extend the reach and enhance the convenience of Internet banking products and services.
  
  
• Wireless banking occurs when customers access a financial institution's network(s) using cellular phones, pagers, and personal digital assistants (or similar devices) through telecommunication companies' wireless networks.
  
  
• Wireless banking services in the United States typically supplement a financial institution's e-banking products and services.
  
  
• Wireless devices have limitations that increase the security risks of wireless-based transactions and that may adversely affect customer acceptance rates.
  
  
• Device limitations include reduced processing speeds, limited battery life, smaller screen sizes, different data entry formats, and limited capabilities to transfer stored records.
  
  
• These limitations combine to make the most recognized Internet language, Hypertext Markup Language (HTML), ineffective for delivering content to wireless devices.
  
  
• Wireless Markup Language (WML) has emerged as one of a few common language standards for developing wireless device content. Wireless Application Protocol (WAP) has emerged as a data transmission standard to deliver WML content.
  
  
• Manufacturers of wireless devices are working to improve device usability and to take advantage of enhanced "third-generation" (3G) services.
  
  
• Device improvements are anticipated to include bigger screens, color displays, voice recognition applications, location identification technology (e.g., Federal Communications Commission (FCC) Enhanced 911), and increased battery capacity.
  
  
• These improvements are geared towards increasing customer acceptance and usage. Increased communication speeds and improvements in devices during the next few years should lead to continued increases in wireless subscriptions.
  
  
• As institutions begin to offer wireless banking services to customers, they should consider the risks and necessary risk management controls to address security, authentication, and compliance issues.
  
  
• Some of the unique risk factors associated with wireless banking that may increase a financial institution's strategic, transaction, reputation, and compliance risks

:SugarwareZ-241:

 

[jiten005]

check this interesting information about WIRELESS E BANKING


Wireless E-Banking

• Wireless banking is a delivery channel that can extend the reach and enhance the convenience of Internet banking products and services.
  
  
• Wireless banking occurs when customers access a financial institution's network(s) using cellular phones, pagers, and personal digital assistants (or similar devices) through telecommunication companies' wireless networks.
  
  
• Wireless banking services in the United States typically supplement a financial institution's e-banking products and services.
  
  
• Wireless devices have limitations that increase the security risks of wireless-based transactions and that may adversely affect customer acceptance rates.
  
  
• Device limitations include reduced processing speeds, limited battery life, smaller screen sizes, different data entry formats, and limited capabilities to transfer stored records.
  
  
• These limitations combine to make the most recognized Internet language, Hypertext Markup Language (HTML), ineffective for delivering content to wireless devices.
  
  
• Wireless Markup Language (WML) has emerged as one of a few common language standards for developing wireless device content. Wireless Application Protocol (WAP) has emerged as a data transmission standard to deliver WML content.
  
  
• Manufacturers of wireless devices are working to improve device usability and to take advantage of enhanced "third-generation" (3G) services.
  
  
• Device improvements are anticipated to include bigger screens, color displays, voice recognition applications, location identification technology (e.g., Federal Communications Commission (FCC) Enhanced 911), and increased battery capacity.
  
  
• These improvements are geared towards increasing customer acceptance and usage. Increased communication speeds and improvements in devices during the next few years should lead to continued increases in wireless subscriptions.
  
  
• As institutions begin to offer wireless banking services to customers, they should consider the risks and necessary risk management controls to address security, authentication, and compliance issues.
  
  
• Some of the unique risk factors associated with wireless banking that may increase a financial institution's strategic, transaction, reputation, and compliance risks

:SugarwareZ-241:

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