Mobile banking service is getting popular rapidly throughout the world. During last five years, usage of banking apps got increased 34 lakh per year on an average. As per a report of financing service research institution ‘CSI’, last year around 20 million 20 lakh users across the world made money transactions and deposited their money through installing banking apps in their mobile phones.
On the other hand, due to using apps, availing online banking service is getting decreased. Usage of mobile banking service will get higher than online banking within next year, as the experts think. If it continues in this way, around 35 million users will get their banking tasks done through apps within 2023 that refers to around 60% of the total current account holders.
But, it doesn’t mean that people won’t go to banks at all. Users have to go to the mother branch to get loans as well as for investment purpose. Image collected.