Most people today own a smartphone, and they are not just using their phones for making calls or sending messages. Instead, they are using them for everything from online shopping to digital banking.

Now that mobile technology is widespread, banks are embracing it so they can remain relevant. Here are two mobile services you can (and should) use to experience easier and faster banking.

1. SMS Banking

SMS banking is a service that offers a quick and convenient way to access your account information wherever you have your smartphone. Whether you are at work, at home, waiting in line at the bank, or stuck in traffic, you can check your balance, transfer money, and find out how much you owe on your credit card.

What’s great about text banking is that you do not need an internet connection to use it. A typical SMS banking system is also automated, which means that you are not texting with a live person, but rather with a computer that will respond to a set list of text commands. Your bank will supply you with a certain text banking number where you will be sending these banking commands.

Here are features offered by an SMS banking system:

●      Bills payment

SMS banking enables you to pay your water and electricity bills with greater ease. Also, it allows you to recharge your phone number while you’re on the move. You just need to know the right bill payment keywords to use.

●      Email and SMS alert

SMS banking comes with mobile alerts that will keep you informed about the important transactions in your accounts. This way, you will be updated wherever you might be at.

For instance, you will receive alerts if you made ATM cash withdrawals, once your salary is credited, and more.

●      SMS Enquiry

A mobile pull or enquiry facility will enable you to check your savings account and credit card balance whenever you want to. Also, it allows you to view your previous transactions.

For instance, if you want to check your account balance, you just have to send “BAL” followed by your account’s last 6 digits to a certain number. What’s important is that you are aware of the full list of Pull messages.

2. Mobile Banking Apps

Mobile banking is a service that allows you to perform several activities as online banking using your phone instead of a computer.

Accessing the website of your bank on your mobile device isn’t the only method for mobile banking. These also include using a mobile banking app which can easily elevate the banking experience for any user.

As an example, the best bank in Dubai offers an innovative way for you to enjoy their app because it is now equipped with augmented reality. This means that it can help you find real-time offers and incomparable deals right where you are.

For instance, you can have access to exclusive deals on entertainment, electronics, travel and dining on your smartphone at more than 40 locations in the UAE.

Here’s an overview of how apps with augmented reality work:

  • Search by Category – This allows you to search based on category, including entertainment, leisure and dining.
  • Location-based Search – This allows you to find nearby offers by just entering a location.
  • Reality View – By pointing your phone camera in a certain direction, the app will pinpoint offers live on your phone’s screen.
  • Shake to Search – By just shaking your phone, you will get a list of nearby offers.

Mobile technology advancements are already making self-service banking a reality. Innovators continuously develop systems that allow for new means of mobile integration. And while cashless transactions might have seemed like mere science fiction decades ago, they are already growing in acceptance because of their convenience.

What’s more, mobile payments are on the rise even though cash remains king. There is indeed less skepticism regarding digital payment options today compared to the past.

Modern banking customers have a wealth of conveniences available to them. Even applying for a credit card or taking out a loan for education, emergencies, business or personal growth can already be done online these days. But to make sure that you enjoy better, easier and faster banking, it is crucial for you to stay updated with new mobile technology and services.