Dissertation on

Comparative study on mobile banking applicattion

Submitted to:
Faculty of Management
In partial fulfillment of the requirement of the award for the degree of Integrated Master of Business Administration
GLS University
Under the guidance of
Faculty Guide:
Prof. Neelam Pure
Prof. Ashok Bantwa
Submitted by:
Anuj Kadel (201500510010030)
Parth Modi (201500510010050)
February, 2018
Scope of the Study.

 Banks in India.
 The scope and key assumptions are only concentrating about the
comparative study of mobile banking applications.
 The research will focus on employees because they might have
the experience to use the mobile banking to check the account
balance after their employer pays them the salaries.
Objective of the study

 To undertake a macro level comparative analysis on various mobile

banking applications
 To compare various mobile banking application in India
 To know developments in mobile banking sector
 To know the better services provided by banks in India
Benefits of study

 Mobile banking not only offers facilities like balance check, or do

transactions they are also affecting customer behavior. Integration
of banking with their personal mobile devices, customers are
engaging themselves in apps more than ever. Reason behind this
is mobile apps allow customers to avail banking facilities without
physical presence in branch. Customers can also handle their
money with a click. This facility is encouraging customers to use
mobile banking and provide real life experience. They can carry
out their key transactions on Smartphones to save cost and time.
Mobile banking is convenient for them to use and is being used on
a regular basis. The habitual use of these apps helps banks to have
consumer on their display 30-40 times in a month (Jones, 2015).
Introduction

 Mobile banking is a service provided by a bank or other financial institution

that allows its customers to conduct financial transactions remotely using a
mobile device such as a smartphone or tablet. Unlike the related internet
banking it uses software, usually called an app, provided by the financial
institution for the purpose. Mobile banking is usually available on a 24-hour
basis. Some financial institutions have restrictions on which accounts may be
accessed through mobile banking, as well as a limit on the amount that can
be transacted.
 Mobile banking (also known as M-Banking, m-banking, SMS Banking) is a
term used for performing balance checks, account transactions, payments,
credit applications and other banking transactions through a mobile device
such as a mobile phone or Personal Digital Assistant (PDA).
 Mobile Banking Services Banks offering mobile access are mostly
supporting some or all of the following services:-
 1. Account Balance Enquiry
 2.Account Statement Enquiries.
 3. Cheque Status Enquiry.
 4. Credit/Debit Alerts.
 5. Minimum Balance Alerts.
 6. Recent Transaction History. Etc.
Industry profile

Banks which provide good mobile banking service in India

 Axis mobile
 ICICI mobile banking
 HDFC bank mobile banking
 State bank anywhere
 Kotak bank
 Bank of baroda m-connect
Company profile

 The first bank to begin operations as new private banks in 1994 after the
Government of India allowed new private banks to be established.
 The Bank was promoted in 1993, jointly by Specified Undertaking of Unit Trust of
India (SUUTI) (then known as Unit Trust of India),Life Insurance Corporation of India
(LIC), General Insurance Corporation of India (GIC), National Insurance Company
Ltd., The New India Assurance Company Ltd., The Oriental Insurance Company
Ltd. and United India Insurance Company Ltd. The shareholding of Unit Trust of
India was subsequently transferred to SUUTI, an entity established in 2003. With a
balance sheet size of Rs.2,85,628 crores as on 31st March 2012, Axis Bank is ranked
9th amongst all Indian scheduled banks. Axis Bank has achieved consistent
growth and stable asset quality with a 5 year CAGR (2007-12) of 31% in Total
Assets, 30% in Total Deposits, 36% in Total Advances and 45% in Net Profit. The
Corporate Office of Axis Bank is located at Axis House Mumbai.
Pest analysis
Porter’s five force model
Research methodology

Data source Primary Data Questionnaire

Secondary Data Journals, periodicals

Newspapers & websites,
google, os platforms.
 Analysis & Interpretation

Top 6 apps NO. of ratings Ios ratings Android rating Last year rating cha
ng
e

Axis mobile 293684 4.3 4.3 3.5 16

%

ICICI mobile banking 871793 4.5 4.5 4.5 0%

HDFC bank mobile banking 188757 3.0 4.2 3.2 8%

State bank anywhere 375909 2.7 3.9 3.5 22

%

Kotak bank 251269 3.0 4.4 2.9 16

%

Bank of baroda m-connect 37087 3.4 4.1 2.2 31%

 Private sector banks: They have been aggressive in launching apps. To begin
with, every bank has an official banking app for basic transactions, and is
focused on existing customers. This can be useful if your primary account is
with that bank, and you use multiple products of the bank.
 Public sector banks: They have been slower in rolling out apps. However, State
Bank of India (SBI) has launched at least five products—apps and wallets for
financial as well as non-financial services (State Bank Samadhaan, State Bank
Buddy, State Bank Anywhere, State Bank Freedom and SBI Quick). State Bank
Buddy is a mobile wallet, which can be used by the bank’s as well as other
customers. SBI Quick app is a missed call banking app. Freedom app allows
balance enquiries and money transfer. State Bank Secure OTP is an OTP
generation app for verifying transactions.
Findings

 Best Overall App: ICICI mobile banking with a score of 4.5,

 Best Apps Among the 6 Largest Banks: Axis bank and ICICI bank One both
scored 4.5and 4.3.
 Worst App Among the 6 Largest Banks: SBI with a score of 3.9, improving from 3.5
.
 Best Online Direct Bank App: ICICI Bank with a score of 4.5.
 Overall Most Improved App: BOB m-connect, with a score increase of 31% year
over year, from 2.2 to 4.1.
Suggestions

 Online banking still a mixed bag

 Among the 6 online direct apps we found more dispersion in app user
satisfaction. While ICICI mobile banking tops the list with a weighted
overall rating of 4.5, four of the banks had apps with a rating of less than
4. Still, nearly all the apps in this category saw a modest improvement in
user satisfaction versus last year.
 Bigger is getting better
 Axis bank and ICICI bank, not only offer savings, checking and credit
card accounts, but also more complicated products like brokerage
accounts and finance management
Conclusion

 With so many apps and wallets, is it a case of too much supply?

Banks and analysts say that multiple apps are launched to address
different sets of customers. “This is done to basically focus on
targeted customers. It all depends on use case,” said Saurabh
Tripathi, partner and director at Boston Consulting Group. For
instance, ICICI Bank’s Pockets focuses e-commerce payments, bill
payments and P2P payments, while HDFC Bank’s Chillr focuses on
sending money to a contact. However, often, there are
overlapping features as well. “This is usually the case with public
sector banks as the idea is outsourced. Some level of internal
check needs to be done to maintain a difference,” said Tripathi,
who believes that banks should offer multiple apps and launch
them one after the other as each customer is different, and it is
difficult to predict which will work.
THANK YOU!