Mobiilipangas

Mobiilipangas, commonly referred to as mobile banking, denotes the provision of banking services through mobile devices, including smartphones and tablets. It allows customers to perform routine tasks such as checking balances, transferring funds, paying bills, and managing cards without visiting a branch.

Most services are delivered via dedicated mobile applications or mobile-optimized websites, sometimes complemented by SMS-based or USSD services in emerging markets.

Security and technology: uses encryption, authentication, biometrics; providers implement two-factor authentication, device binding, risk-based authentication, tokenization.

Advantages include convenience, 24/7 access, reduced physical branch load, and potential cost savings for banks and customers; drawbacks include security risks, phishing, malware, device loss, and the digital divide.

Regulation and market: regulated by financial authorities; in some regions, open banking and frameworks like PSD2 enable third-party access with user consent; data privacy laws apply.

Impact and trends: widespread adoption, integration with digital wallets, contactless payments, AI-based customer support, budgeting tools, and cross-border payment features; ongoing focus on user experience and security.