With online banking, technology has achieved new standards of banking convenience. Instead of standing in line at the bank for hours, you have the convenience of banking from your home . With mobile banking you can access your accounts, make inquiries and use various banking services from anywhere in the world. Take this quiz to see how well informed you are about how mobile banking works.
In which of the following countries is mobile banking popular?
How many Americans use mobile banking?
How have phone networks been influenced by the increase in mobile banking?
The networks have been overloaded with data.
They are providing faster data speeds.
More people are buying cell phones.
What sort of phone do you need for mobile banking?
a basic phone
a phone with Internet capabilities
How do consumers now feel about mobile banking compared to a few years ago?
When was the first ATM introduced to the public?
Why did the numbers of people using online banking take a while to increase?
due to many technical problems
because people didn't have Internet
due to lack of awareness about the service
About how many Americans use Internet banking today?
What is a major limitation of online banking?
It is unsafe.
You have to have an Internet connection.
You have to have to log in regularly or your account closes.
About how many people worldwide have a cell phone?
What is a "pull transaction"?
A request to bank from a bank customer.
Requested information supplied from the bank.
Withdrawing money from an ATM.
What sort of factors affect the amount of services you can do by mobile banking?
how much money you want to transfer
they type of phone you have
what language you speak
What is the "interactive voice response" (IVR) mechanism on your phone?
The function that allows you to hear the other person through the phone.
The function that recognizes your voice when you get a machine answering the call.
The ability to press numbers on the keypad during a call which are then transformed into words.
Text messaging allow both push and pull services. What is a limitation of text messaging?
The message is limited to 160 characters.
You can't know if the message was received.
Both of the above.
New phones have wireless application technology (WAP), enabling users to do online banking from their phone. What is a problem with this system?
the screens are small
the Internet is slow
it is unsecure if your phone gets stolen
What is a problem with customized downloadable software for mobile banking?
It is expensive for the consumer.
It is easy to hack into.
It is expensive for the bank to develop.
Before you can do online banking with the Bank of America, what do you need to do first?
Close all accounts with other banks.
Set up online banking.
Buy a new cell phone.
Citibank uses the download application approach for their mobile banking service. What number do customers need to log on to their mobile banking each time?
their telephone access code
their ATM pin
a new pin they create
Placing a near field communication (NFC) chip in a Nokia phone allows it to become like what?
a credit card
How can m-payment be used for someone who doesn't have a bank account?