| The Short Message Service(SMS), a mobile communication technology developed recently, is widely accepted in daily mass communications for it has the advantages of low cost and easy to use. The commercial applications of SMS are expected to have huge potential while SMS is integrated with enterprises' operation/business database. The report summarizes the development history of SMS in China, and then provides market profile of SMS applications in finance industry through the industrial description of the overall market, IT infrastructure, and the SMS development status and growth potentials in Security, Future, Insurance and Banking sectors. At present, SMS application has been well developed in domestic security and banking sectors. The future is an emerging market for SMS applications for the market size is relatively small and no clear demands yet. Chinese insurance industry is not ready for SMS commercial application by now for it is still immature in business management as well as customer services. Through the case analysis of successful SMS applications in financial services, the report states that two key factors for SMS applications, besides a well structured IT system, are the target users and the content. Based on the above conclusion, the report analyzes the development potential of SMS application in the four financial sectors. The report ends with the prospect of mobile phone application in finance industry with the rapid development of communication technologies.
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