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                                                                       Application in Wireless Banking  

                                                                                                                                           

                                                                                                                                          (Notes prepared by Jin Lung Chen)  

       
What is wireless banking

      Wireless banking is designed to let bank customers read and check information with mobile phone. It uses a standard known as GSM for voice and data communications that made text-message on cell phones easy to deploy.             

        Wireless banking consists of remote account access integrated with online payment and electronic messaging.  Electronic messaging allows users to correspond directly with the financial institution.

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Wireless banking today

      The wireless market is already mature enough to help banks get up and running such a service fairly quickly. Wireless services are important and let banks reach and keep customers. The bank offers this service on a wireless platform.

       Balance inquiry (80% of participants);

      Account history (60%);

      Bill payment (50%);

      Funds transfer (40%).

         Less popular were credit card transactions and check ordering. It is estimated that, by 2003, about 40 million consumers will be using some type of wireless electronic financial services.  The average session lasted about 3.5 minutes.

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Simple idea of wireless banking

          The first challenge for bankers is that they would do well to familiarize themselves with the  wireless landscape. It is one that is quickly growing crowded with competitors. The logic for wireless financial applications may occupy its own application server.

        One is directly linked to the institution's core processing system.

        Another option is to via a proxy server on the Internet banking or network gateway. This is so call ¡§page scraping¡¨ method, in which an intermediate or proxy server retrieves HTML pages, ¡¨scrapes¡¨, and sends the scraped page to the network service provider.