How will mobile banking work?

Industry experts at the 12th Malaysian Banking Summit 2008 say not just Internet banking but mobile banking is set for further growth and expansion globally, reports The Star.

CIMB Bank retail banking head, Peter England, is quoted as saying that Malaysia had successfully adopted Internet banking since 2000 and that mobile banking would follow suit.

The article did not explain how this would happen. There are many ways in which mobile banking can be supported through the mobile platform.

It could require users to download a Java application or it could be deployed through WAP 2.0, SMS or even USSD (Unstructured Supplementary Service Data). Right now, with mobile banking at its infancy, it's hard to tell which one would work.