Challenges for Mobile Banking Services free essay sample

Banking transactions over the mobile phone are usually performed either by sending a SMS to the bank or by using mobile internet. When you send a SMS requesting a financial transaction, it travels to the SMS center of your cellular service provider and from there it goes to the banks system. Then, you receive the response that is sent by the bank via the service provider, all within a few seconds. Mobile Banking Services Nowadays, banks have come up with a range of mobile banking services for reducing their cost of operation and providing more easily accessible and faster services to you. You can use your mobile banking facilities to inquire about the updates of your balance, statement request, details of the last few transactions and management of pension and insurance policy. In addition to these, you can request the bank to activate alerts, if a threshold limit is crossed, or to set a minimum balance alert. Mobile banking has also made fund transfer, both national and international, quite simple and fast. You can order or request a check book and card, and pay bills with the help of mobile banking. It can also give you the facility of carrying out cash deposition and withdrawals. Some other services of mobile banking include portfolio management services, personalized alerts, notifications on security prices, mobile recharging, monitoring of term deposits, etc. You can also receive online updates of stock prices and even perform stock trading. Classification of the Services There are generally two ways to classify mobile banking services. The first method classifies the banking services as Push or Pull, depending on the originator of a service session. If the bank sends information as per the already agreed rules, then it is categorized as Push. An example of Push is a minimum balance alert, when your balance goes below a particular amount. On the other hand, when the bank sends information as a response to the request sent by the customers, it is termed as Pull. So, if you request the bank to send a statement for the last few, say 3 or 5 transactions, then it is a Pull based service. The second classification of mobile banking services depends on the nature of transactions. So, if you request the bank to send a bank statement, then it is a inquiry-based service, while a request for fund transfer is a transaction-based service. Benefits of Mobile Banking Mobile banking services are not only beneficial for the customers but for the banking institutions as well. These services can significantly lower the operating cost of banking institutions by reducing the dependence on costly call centers. They can also lower the frequency of errors that are usually committed in paper based payments. As mobile banking is a cost effective innovation, it can considerably reduce the financial risk associated with starting a new business initiative. It can also enable banking institutions to closely monitor their new campaigns. Besides this, it can provide a new avenue for selling their products like insurance packages and other banking services. On the other hand, mobile banking helps customers by ensuring the fast processing of their banking transactions. As any kind of financial transaction is immediately reported to the customers, they can easily monitor and detect any error in transactions, or any unauthorized transactions. Today, the mobile and wireless market is one of the fastest growing markets. However, a lack of trust and general awareness have been observed among the people when it comes to mobile banking services. Therefore, it is essential to address issues like security of the banking transactions that are executed from a distant place and transmitted over the air. Besides this, it is also important to ensure the security of financial transactions, if the device is stolen by hackers. If these concerns are properly addressed, then it would help increase the popularity of mobile banking by instilling a sense of trust among the customers. Growth of Mobile market .â€Å"Of 6 Bnglobal population, only 1 Bnhave bank accounts while 4 Bnnowown a mobile† . Over60% of world’s population has a mobile. Penetration of mobile while use of cash globally Mobile services not only offer a new, convenient channel for existing customers of banks, the technology will also provide access to 3 Bnstrong global unbanked population . Mobile payment users worldwide ? 73 million in 2009, up 70. 4 % from 2008 . Mobile payment users gt;190 MM in2012, which is over3 % of total mobile users worldwide a level considered as mainstream† . Rise in Mobile payment penetration (2009 to 2012) North America –From 1. 7 % to 3 % Western Europe –From 0. 9 % to 2. 5 % Asia/Pacific Japan –From 2 % to 3. 8 % Eastern Europe, EMEA and Latin America gt; 3 % Mobile Banking Services Mobile banking can offer services such as the following: Account Information 1. Mini-statements and checking of account history 2. Alerts on account activity or passing of set thresholds 3. Monitoring of term deposits 4. Access to loan statements 5. Access to card statements 6. Mutual funds / equity statements 7. Insurance policy management 8. Pension plan management 9. Status on cheque, stop payment on cheque 10. Ordering check books 11. Balance checking in the account 12. Recent transactions 13. Due date of payment (functionality for stop, change and deleting of payments) 14. PIN provision, Change of PIN and reminder over the Internet 15. Blocking of (lost, stolen) cards Payments, Deposits, Withdrawals, and Transfers 1. Domestic and international fund transfers 2. Micro-payment handling 3. Mobile recharging 4. Commercial payment processing 5. Bill payment processing 6. Peer to Peer payments 7. Withdrawal at banking agent 8. Deposit at banking agent Mobile banking in Saudi Arabia While mobile financial services have been adopted widely, they have yet to be utilized heavily in Saudi Arabia. This lack of use is all the more curious, given the high rates of mobile phone ownership exist side by side with generally minimal access to formal banking in the Kingdom. This presents an opportunity for banks, potentially allowing them to both expand their consumer base and assist the needy in their communities. Three questions should dictate whether Saudi banks adopt mobile financial services: could banks utilize mobile financial services, would they benefit those companies, and should Saudi Banks adopt such services? According to study has been done by KPMG about 67% of the Saudis are looking forward for mobile banking services in the kingdom. This percentage ranked Saudi Arabia as number one country in for the most promising market for mobile banking. According to Tariq Al-Sadhan the managerial partner of KPMG, the new generations of smart phones has enhanced the opportunity in this business and encouraged the customers to look forward to mobile banking. However it’s now up to the banks to get over the obstacles and ensure the reliability and security of the service. Furthermore these study shows how promising the future of this service and the opportunity for the banks. Challenges for a Mobile Banking Security This is the biggest challenge for banks. And what make it even more challenging is the perception of online business for the Saudis. Security of financial transactions, being executed from some remote location and transmission of financial information over the air, are the most complicated challenges that need to be addressed jointly by mobile application developers, wireless network service providers and the banks IT departments. The following aspects need to be addressed to offer a secure infrastructure for financial transaction over wireless network : 1. Physical part of the hand-held device. If the bank is offering smart-card based security, the physical security of the device is more important. 2. Security of any thick-client application running on the device. In case the device is stolen, the hacker should require at least an ID/Password to access the application. 3. Authentication of the device with service provider before initiating a transaction. This would ensure that unauthorized devices are not connected to perform financial transactions. 4. User ID / Password authentication of bank’s customer. 5. Encryption of the data being transmitted over the air. 6. Encryption of the data that will be stored in device for later / off-line analysis by the customer. Handset operability There are a large number of different mobile phone devices and it is a big challenge for banks to offer mobile banking solution on any type of device. Some of these devices support J2ME and others support SIM Application Toolkit, a WAP browser, or only SMS. The desire for interoperability is largely dependent on the banks themselves, where installed applications (Java based or native) provide better security, are easier to use and allow development of more complex capabilities similar to those of internet banking while SMS can provide the basics but becomes difficult to operate with more complex transactions. Scalability Reliability Another challenge for the CIOs and CTOs of the banks is to scale-up the mobile banking infrastructure to handle exponential growth of the customer base. With mobile banking the banks need to ensure that the systems are up and running in a true 24 x 7 fashion. As customers will find mobile banking more and more useful, their expectations from the solution will increase. Banks unable to meet the performance and reliability expectations may lose customer confidence. There are systems such as Mobile Transaction Platform which allow quick and secure mobile enabling of various banking services Application distribution Due to the nature of the connectivity between bank and its customers, it would be impractical to expect customers to regularly visit banks or connect to a web site for regular upgrade of their mobile banking application. It will be expected that the mobile application itself check the upgrades and updates and download necessary patches (so called Over The Air updates). However, there could be many issues to implement this approach such as upgrade / synchronization of other dependent components. Challenges -Security concerns, inadequate ‘ecosystem’and undefined areas in banking regulationsremain challenges for m-payment (Gartner) -Development of a standard protocol that will enable money to be send across different networks in a seamless way (Citi along with Swift, is looking for more flexible protocols that will span different providers –Michael Knorr, MD, GTS, Citigroup) -Mobile remittance services interoperabilitywith other payments applications -The biggest challenge is to gain subscribers onfidence and persuade them to use mobiles forsensitive financial transactions -Deciding upon the right business models, handing revenue settlements, designing and offering new user interfaces, and integrating technology -From a cost perspective, the main drivers are the investmentin the technology platform and the SMS/data access fees. Since it is likely that the former can be based to a great extent on the Internet platform, mobile banking can in fact be a way for banks to extend the value of existing investments. Operating service costs, which include SMSand data access fees paid to telecom operators, have been decreasingsteadily in recent years Factors for Success in M-Banking -With mobile internet at the precipice of mass adoption, banks that will succeed in making the most of their m-banking offers must act fast! Developing innovative technology solutions that are efficient, secure, andcost-effective while understanding the customers growing desire for personalization andreal-time access are the dual tracks to successful next generation Mobile Banking -Mobile Payments processors that are going to be the most successful are the ones that are willing to adapt to various regions and various countries andcustomize their solutions to those countries -Organizations that succeed will be those that balance the strengt hs of technology with those of business(including its influence in the market and market rules) and are faithful to the core economics of the business

Curtain Call by Eminem free essay sample

â€Å"They say music can alter moods and talk to you.† This quote is from Eminems song â€Å"Sing for the Moment† from the album Curtain Call. This explains how I feel about music. When I am listening to music, my mood changes with the songs I listen to. If I were to pick a favorite album, Curtain Call would be in my top picks. In my opinion, Eminem is one of the best hip-hop artists out there. All of his songs are written from his personal events in life, and are about what he is really feeling inside. If you have gone through any of the events that Eminem has gone through, then it feels like he is actually talking to you personally. People criticize him because he is white but talks with an accent, but if you listen to the lyrics of his songs, you would appreciate his talents. Eminem dedicates his entire life to making his daughter, Hailie, happy. We will write a custom essay sample on Curtain Call by Eminem or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page If you have never listened to any songs written by Eminem, then I would definitely recommend you listen to Curtain Call first. Curtain Call is basically just an album of all of Eminem’s biggest hits from 1996 to 2005. It was released on December 6, 2005 under Dr. Dre’s Aftermath Entertainment. Not only does this album contain twelve of Eminem’s biggest hits, but it also contains four of his new songs on it, and one song that he sang live at a concert. If you were to listen to this whole album in one day non stop, it would take you one hour, seventeen minutes, and fifty-five seconds! But if you don’t have enough time for that, then you would probably want to know which of his songs to listen to. The first song that I would recommend you listening to would be â€Å"When I’m gone.† This song basically talks about how Eminem wants to be there for Hailie, but his singing career is getting in the way. It also explains how he wants to do all of the things that a father should do with his daughter, like pushing her on a swing, but he is never home to have those experiences. Another song that I would suggest you listen to would be â€Å"Lose Yourself.† This song is explaining how when society thinks that you can’t achieve something, you need to step up, prove them wrong, and do it. Never give up on your dreams, and always try your hardest. The final song that I would suggest would be â€Å"Sing for the moment.† This song is basically about Eminem’s journey through his rapping career, and how he got there. It also is about how he sings for all of the kids out there who were just like him, and grew up without any luxuries. To rap it up, Eminem is a very inspirational person to me. He may not talk the same and everyone does, but at least he is being true to himself. Eminem seems to have a carefree attitude towards life, and thats what I look forward to. As Eminem sang in one of his songs, â€Å"We consider these minutes golden, and maybe they’ll admit it when we’re gone. Just let our spirits live on, through our lyrics that you hear in our songs.†

The Biblical Canon free essay sample

An examination of the origins of the Christian biblical scriptures. This paper examines the formation of the Christian bible as known today. The paper describes the elements of the bible and its origins from different holy writings: The Old Testament, The New Testament, The Prophets, The Torah, Psalms, Proverbs and The Book of Job. It discusses how the Jewish and the Christian Bibles view God as the supreme power behind the events the books. In The Bible In English Translation An Essential Guide, Steven M. Sheeley, and Robert N. Nash, Jr. says that, The Bible didnt just appear on the bookstore shelf complete with leather binding and gold lettering (12). After reading, Ive come to realize that the Bible is the name given to several collections of writings held sacred by the Jewish and Christian religions (Sheeley and Nash, Jr. 12, 13). In church, Ive also heard the Bible referred to as Holy Scriptures. We will write a custom essay sample on The Biblical Canon or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page And according to Sheeley and Nash, Jr., the Old Testament is known as the Jewish Scriptures (12) and the New Testament is known the Christian Scriptures (15).

Sample Nurse Practitioner Essay - A Few Tips

Sample Nurse Practitioner Essay - A Few TipsWhen you are writing a sample nurse practitioner essay, you may be curious about what you should include. What does one have to include in the sample. In this article we will look at the most common types of samples that are used. Once you have the sample, you may want to read through the sample and make sure it is about what you want it to be.The first sample that you can use in your sample nurse practitioner essay is the step-by-step tutorial type. Many students write this type of essay, because they want a different way to do the essay. If you want this kind of essay, you should really know that it's easy to write.Some of the best examples for a sample nurse practitioner are the explanation type. Most students write these type of essays, because they want to explain things that are going on in their lives. If you are writing an explanation type of essay, then you should be ready to write an essay that is easy to read.As you can see, ther e are two types of samples that are in use when you are writing a sample nurse practitioner essay. You need to know what they are, and how to use them to your advantage. Some of the sample essay topics are a short story, a history essay, and even a journal.Some of the essays will also include a paragraph or two about yourself. Some students have very specific ideas about what they want to include in their essays. If you are interested in writing a description or a narrative piece, you will find that you can make a lot of the materials available in your library. It's important to make sure that all the sources are correct, but in most cases you won't have a problem.The other most common sample isthe motivational type of essay. These types of essays are written by student writers, to motivate their classmates. They use stories about someone they have been close to, or to promote a cause.When you are doing an essay on the subject of medicine, you may want to see if you can find one of these. It's always good to have a resource at hand. You should be prepared to do more research, as you read your essays. This is the way that you learn the best practices when it comes to writing a sample nurse practitioner essay.

Mccarthyism by A Myan.

Mccarthyism by A Myan. McCarthyism is a term named for Joseph McCarthy, a republican senator from Wisconsin from 1946 to 1957. McCarthyism began, as it is know today, with Senator McCarthy's accusations in February 1950 that Communists had infiltrated the Department of State. He continued to accuse high-ranking officials of treasonous activities for the next three years even though his accusations were never substantiated. McCarthyism is simply the practice of making accusations of political disloyalty with insufficient evidence. The McCarthy Era refers to the wave of political repression in the late 1940's and early 1950's, which targeted the communist party.McCarthyism itself had begun years before Senator Joseph McCarthy had even come to national attention. The House Committee of Un-American Activities (HUAC), established in 1945 is best known for anti-Communist investigations, called witch-hunts by those who opposed them because of their similarities with the Salem Witch Trials. Blacklisting in the fil m industry began in 1947 when people were refused jobs because they had been accused of being members of the American Communist Party or having some connection to Communism.English: Sen. Joseph McCarthy chats with his attor...People working in film, television, radio, and theater were fired as a result of the blacklist. The blacklist developed after the HUAC, held public hearings to investigate the influence of Communists in the motion picture industry. Some of the people the committee called to testify as witnesses told HUAC the names of other people who they believed to have Communist connections. Ten of the men called to testify, a group of writers, directors, and producers, refused to tell the committee whether or not they belonged to the Communist Party. They insisted that the committee's questions violated their constitutional rights. The committee decided that they were in contempt of Congress the people who became known as the Hollywood Ten went to prison.Other well-known ex amples...

Negligent Security & Premises Liability Research Paper

Negligent Security & Premises Liability - Research Paper Example The researcher states that unlike many laws that are enforced uniformly across the United States, premises liability law can differ from state to state. As an example, consider the scenario of an individual visiting an apartment and injuring themselves there. In some states, the owners of the apartment building would be liable for the injury; however, in other states, the tenant of the apartment where the injury occurred would be liable for the injury. Therefore, as described in the example, the law of premises liability can be enforced differently depending on the laws of the state involved. As indicated by the classic elements of premises liability, the plaintiff had to be an invitee or licensee in order to hold a landowner liable for a tort that occurs while the plaintiff is on the premises. A 1968 California Supreme Court decision, however, removed the legal distinction between an invitee, licensee, and trespasser when deciding if the possessor of the land could be held liable fo r harm that occurs on the premises and held that a landowner owed a reasonable duty of care to anyone on their premises. This decision held that a possessor of land could be held liable for harm that occurs on their property, even if the harm is to a trespasser or an individual that was not invited and should not be on the premises. Attractive Nuisance Doctrine The 1971 case Haddad v. First National Stores, Inc. established the standard for the duty of care owed to trespassing children. Previously the duty  of a landowner owed to trespassers was not to harm them in a willful or wanton manner; however, the Haddad decision changed this standard and added a special duty of care with regard to children. The court adopted the attractive nuisance doctrine which makes a landowner liable if the plaintiff can prove: 1) the owner knows, or has reason to know, that children are likely to trespass where the condition exists; 2) the condition is one which the landowner knows and realizes, or h as reason to know and realize, involves an unreasonable risk of serious injury or death to such children; 3) the child does not realize the risk or danger involved; 4) the utility to the landowner of maintaining the condition is slight compared to the risk to children; and, 5) the landowner fails to exercise reasonable care to eliminate the danger or otherwise protect the children. Even though the case established the attractive nuisance doctrine, it is difficult for both a plaintiff and defendant to be involved in any case based on this doctrine. Another development in the premises liability law relates to the element of the law regarding the necessity of negligence or some other wrongful act. â€Å"Third party premises liability† cases refer to cases where the possessor or owner of a property can be held liable for injury or harm that occurs on the premises but is the result of a wrongful act of a third person and not the possessor of the property. The issues of duty and ca usation are complex in these cases since the injury is not caused by the possessor of the premises directly, but still may be the liability of the owner or possessor of the premises.

The Role of Taxation Policies under Globalisation and Trade Essay

The Role of Taxation Policies under Globalisation and Trade - Essay Example In this case tax competition will increase everyone will want to reduce their rates and give more incentives. The global mobility of goods, services, finance and consumers has disturbed the tax system of both mobile and immobile factors. This requires efficient taxation of firms operating in different regions. Every country want to minimal taxation to attract Fade-in this article we will discuss the different taxation policies under globalization and trade. Due to the globalization process private and public sectors also had change their policies and practices.3 When a country formulates its policies it takes in to consideration its domestic economy. Whenever there is any type of agreement or trade treaties between nation they are don’t compromise on national independence  regarding taxation. Globalization has change base, implication, design and administration of taxaes.Fiscal termites is used to describe the effect of globalization on tax systems. Adoption of tax system ac cording to globalization is slow process, as tax administrator face difficulties in administering new tax system and making it feasible to IT system and people. Government are facing stiff competition in reducing taxes and giving more incentives to attract FDI, this may lead to race to the bottom in which overall tax collection will be less. Literature Review Taxation It is a system of obligatory contribution imposed by government on people, corporation and property in order to raise revenue for public expenditure. It can direct and indirect it varies from country to country.4 It can be progressive, proportional or regressive tax. Under Progressive tax as income rises tax rates increases. Proportional Tax remain the same at all level and under regressive tax rate decreases as income increases this effect poor people then rich .it is impossible for a government to run its operation without taxes. It also a legislative power and help in implementation of rules. Taxation is set of rule s, how much a very person has to pay and whom and when it should be paid. Taxation is a powerful tool to gain social evolution and economic advancement. By giving tax exemption some activities supported for growth and for the discourage of certain product or activity heavy taxes are imposed. Local business are promoted by imposing heavy taxes on foreign goods . The basic principles of taxation are as follow5: Efficiency : It focuses on the foundation of the taxation policies prevailing in a country.An efficient taxation system should be unbiased and anti-nepotisum and simple so that people can understand it. Equality: The application of the tax system should be Equitable and should treat all taxpayer in similar economic conditions and different treatment in different economic conditions. Certainty : For the establishment of an ideal taxation system certainty is fundamental because one should know what is going to be tax cost and outcomes of tax avoidance. Positive Economics Effects: In actual taxation is for the smooth flow of national affairs and stability in the country and promoting economy.    Trade Trade is transfer of ownership of goods and services from one person to another the act of doing trade is called transactions, the original form of trade