The advent of Internet has revolutionized the financial services industry, empowering organizations with new business models and alternatves to offer 24X7 accessibility to their customers. The ability to online financial transactions has also created new players in the
financial services industry, such as online banks, online brokers and wealth managers who offer personalized services. People are mobile-savvy, and are always ready to try out advanced hand-sets and services. Mobile banking also saves the time and effort of going to the bank, standing in queues, etc. According to a Business Standard survey, one out of every three persons was ready to change his/her banks to avail free mobile banking services. Around 50 percent of the people who were surveyed used cell phones to check their bank balance. Awareness of mobile banking is also high in India. Although such players still account for a tiny percentage of the industry, it is the latest in customer convenience in banking, to access and operate your bank account from anywhere from your cell phone. This is available on advance technology phones. One can access bank account through SMS or scripting languages like XML, HTML, SOAP and WAP. Mobile banking and ATMs use the same infrastructure.

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