Three Reasons Why You Should Use Mobile Banking Services Amid a Pandemic

Nowadays, most people already have a smartphone that has many features. However, there are also still many who have not been able to take full advantage of it. One of the advantages is that all smartphones are equipped with an internet connection and can install a banking service called mobile banking. When customers use mobile banking or m-Banking services, they can carry out various financial transactions like when transacting at an ATM.

The flexibility of technology and the transformation of the phone into a smartphone is one of the factors that ultimately make it easier for the public to access banking services. It was marked by the birth of internet banking and m-banking services. Even though they look similar, the two services actually have differences.

Mobile banking is a service offered by banks to their customers to facilitate transactions, and they can access it through applications installed on smartphones. On the other hand, internet banking is the activity of conducting transactions, payments, and other banking transactions via the internet by accessing the bank’s official website which is equipped with a security system.

Amid the current pandemic situation, banking activities through mobile banking services themselves have experienced a significant increase. Bank Indonesia (BI) noted that the total digital banking transactions throughout 2020 reached more than Rp27 thousand trillion. This value is predicted to grow 21.8 percent to Rp33 thousand trillion this year.

With the current uncertain situation, mobile banking services can be a solution for many people to carry out financial activities without excessive social activities. Here are three main reasons why we need to get used to using mobile banking services today:

Convenient and easy to use

Using mobile banking services amid a pandemic can help customers limit their social interactions. In the end, it can help break the chain of virus spread. It is inseparable from the convenience offered by the mobile banking service, which can be used anytime and anywhere customers want as long as they have a smartphone connected to the internet.

In addition, the interface of mobile banking service now looks more modern. The interface changes were made without forgetting the obligation to provide the best user experience to customers.

Practical in managing financial services

One of the benefits of using mobile banking is to make life easier because it can be used practically by customers to pay bills, transfer funds, check balances, make deposits, and other transactions. All these activities can be done through a banking application installed on the smartphone without the hassle of coming to the bank, which is usually full of queues.

Along with technological advancement, mobile banking services also allow customers to conduct banking or financial transactions more broadly. Besides facilitating public utility bills payment such as electricity and water, the mobile banking service can also make it easier for users to pay for many other things. Some of them are their travel ticket bills, make donations, top up the electronic money, to settle the purchase of investment instruments such as mutual funds and Government Bonds.

Guaranteed security

Before digitization developed rapidly as it is now, mobile banking services were less attractive to many people. There are always reasons to avoid using this banking service, ranging from being reluctant to learn more to doubting the security of the service.

In fact, using mobile banking services can be a safer option than having to go to an ATM or bank to make a transaction. It is taking into account the factors of crime such as hypnosis and robbery that often occur to customers when they are at an ATM or on their way home after visiting a bank.

Along with technological developments, the security of mobile banking services has also increased. Previously, only relying on passwords, PINs, and OTP codes, now mobile banking has also used biometrics such as fingerprint scanning to use the service. One thing to be aware of is phishing action that may be directed at customers to steal personal information of financial services.