Mobile Banking is Cheaper Than Formal Banking

Everybody likes saving money and banks shouldn’t be any exception. A new research conducted by Consultative Group to Assist the Poor(CGAP) found new insights into the banking traits.

The study convincingly says that the mobile banking is cheaper in comparison to formal banks. A clear 54% difference exists between the transactions that are by mobile banking than from informal options for money. If you work for bank that currently doesn’t have mobile banking, you are missing out on the savings and new potential customers. Banks need to go ahead and implement a mobile banking platform and add Mobile Deposit. As soon as banks realize these benefits and implement mobile banking, more money will be saved and new customers will follow!


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