What Is The Concept of Mobile Banking, and What Is It Not? A General Assessment

Abstract

Finance can be defined as the money, cash, or similar assets, or simply funds, that individuals or institutions require. The financial system, on the other hand, can be described as the legal and administrative framework that includes financial intermediaries acting as a bridge between those who supply funds, those who demand funds, and units with a fund deficit and units with a fund surplus, along with financial instruments. Banks are the first institutions that come to mind when financial intermediaries are mentioned. Banks are one of the most important elements of the financial system, perhaps even the most important. Since the 1990s, the banking sector has begun to shift from traditional financial service delivery tools to autonomous, self-service delivery channels. This movement has gained momentum with the emergence of the internet, which provides banks with broader market access and coverage. Indeed, due to its highly competitive structure, the banking sector maintains its leading position in the adoption of new technologies such as the internet. These contemporary technological innovations have significantly benefited the commercial sector and enabled banks to provide better services to their customers. The huge boom in mobile device usage and initiatives in e-commerce have drawn researchers' attention to mobile banking. This study will attempt to provide information about the concept of mobile banking, its historical development, and current information in the field of mobile banking. The significance of this research lies in drawing attention to current developments in the field of mobile banking, which is becoming increasingly prevalent in the financial world, and providing information about new dynamics. The method used in the research is based on compiling and translating articles and reports written in this field. The anticipated results of the study show that mobile banking has facilitated the movement of money through payments and transfers, providing significant advantages, particularly in terms of time savings.