Scheme For Development Of Mobile Banking In Rural Areas

With the aim of providing customers good financial service, the new electronic financial instruments, mobile banking, gain the praise from customers as soon as it came into the market. The mobile banking in western countries developed much earlier than China. Hence, the development of technology and mode is more mature in the Western countries. Therefore, scholars in China pay more attention to establish high quality services and do more research on the mode of services.Recently, the trend of mobile banking development is maintaining good and growth in China. However, there are several disadvantages of the development of mobile banking as following:firstly, there are various substitutes for payment products, it brings a drastic competition during the organizations. Secondly, the percentage of penetrance is much lower than we expected. So paying more attention on rural areas would be an excellence strategy to solve those problems. Thus, we can not only avoid the possible harm from competitors but also give a play to the ’any time any where’ services completely. The users in rural areas do not have to bear the time and location limitation of bank breaches and bank website. With providing the convenient services, it is promoting the depth and width of the mobile banking developing during the financial service organizations, such as bank. At the time of making a contribution to mobile banking developing, it can also help to improve narrowing the financial service gap between urban and rural areas.According to the research of worldwide mobile banking pattern, I am going to proceed with difficulties of developing mobile banking. Analyzing the SWOT and feasibility of mobile banking in rural area and then making a specific program/strategy to help developing both mobile banking and financial services quality effectively and efficiency. At the very end of this article, I will analysis the potential risks and provide some ideas of the solutions.