Mobile banking software provides banks a platform on which to provide financial services products to their customers. Mobile banking solutions act as a mobile extension of the bank. Banks use these solutions to power their mobile applications, which are increasingly popular among banking customers.
Customers use mobile banking platforms to conduct transactions, transfer money, and leverage any mobile payment capabilities to make purchases. Banks use mobile banking applications as the infrastructure for their mobile applications, which typically contain access to the majority of traditional banking products.
Mobile banking solutions are usually included as part of banking software. They often integrate with mobile payments solutions if they do not offer mobile payments functionality within the application.
To qualify for inclusion in the Mobile Banking category, a product must:
Be designed for use by banking institutions
Allow customers to conduct banking transactions on their mobile devices
Provide interoperability with banking software