Mobile Banking, Technology Push, And Finance Form

The combination of mobile internet and financial, which show as mobile banking the bank-led and mobile non-bank-led. Since the birth of mobile banking in the late1990s, its develops rapidly. The typical mode of mobile banking in African countries, mainly dominated by the mobile operator. In the future, everyone has a cell phone and other mobile terminal, match the demand and supply of funds does not require banks and other financial intermediaries. Mobile internet as the representative of modern information and communication technology will have a fundamental impact on the existing financial model.The whole paper is divided into seven chapters, the contents of which are showed as follows:Chapter one, We discussed the history of technology-related financial innovation, we find communication technology can not only lead to new trading tools, prompting financial institutions, financial markets change, it is also likely to subvert the existing financial model. Today, the financial industry has along swimmingly with the information and communication technology. If information and communication technology does not exist, there is no modern financial industry, the importance of information and communication technologies for financial industry cannot be ignored.Chapter two, the combination of ICT and finance that expand the transaction boundaries, to improve financial inclusiveness. Under realistic conditions, the combination point of ICT and finance as mobile banking and P2P. This paper shows that, over the past20years, ICT significantly promote China’s economic growth. Internet users and mobile phone significantly promote economic growth, and mobile phone promotes economic growth greater than Internet users. Fixed telephone play no significant role in promoting economic growth, this because of the substitution effect of mobile phones to fixed telephone. Further analysis indicated that the contribution of ICT to economic growth is mainly achieved by expanding transaction boundaries, and improve financial inclusiveness.Chapter three, The mobile phone penetration more than formal financial institutions outlets or ATM, coupled with the combination of ICT, Internet and financial, expand mobile banking transaction boundary and increase the level of financial inclusion. The key point of mobile banking to raise the level of financial inclusion is pricing, in view of the financial inclusion and mobile banking network economies of scale, its pricing is not too high; taking into account the risk compensation, its pricing is not too low. In addition, mobile banking as a financial innovation, contains a certain risk, requires regulatory authorities to reasonable regulation.Chapter four, China’s rural financial dilemma is inadequate information, to resolve this problem is to promote mobile banking. Mobile banking is not only have low transaction costs, but also solve the problem of asymmetric information. At initial stage, mobile banking can be to increase the credit history. In the future, through social networking and other tools to fully reveal and dissemination of information. Further analysis, we find that China’s rural areas to promote mobile banking conditions have been met, as long as the political decision-making can be realized.Chapter five, with the development of information and communication technology (ICT) and the mobile terminal penetration rate of increase, mobile payment is entirely possible to replace cash and credit card payment. With the proliferation of mobile payments network size effect, low transaction costs of mobile payments is full play, which reduced the demand for cash currency, change the demand for money in the form. At the same time, the central bank and the profit-maximizing firm parallel issue currency, this will impact the money supply. The money demand form changes, and private firm supply electronic money, which will make greatly reduce the effectiveness of the monetary control, then the Central Bank will invent new monetary policy tools to deal with the impact.Chapter six, learn from the commercial banks of information technology risk prevention and supervision, we focus on information technology risk faced by the mobile banking. As information technology risk is transitive, complex, hidden and unexpected characteristics, resulting in the financial system has certain vulnerability. So we need external supervision. Internet era of finance, dilute the entity’s financial institutions, will be less important for micro-prudential supervision of financial institutions, the behavioral regulation and consumer protection is important.Chapter seven, mobile banking is diflferent from a traditional bank. In the future, it may be leading the trend of financial development. We combed the mobile banking practice, and literature from several aspects, such as own factors of mobile banking, mobile banking and economic growth, mobile banking and micro-finance, mobile banking and financial gap, mobile banking and rural finance. From this paper, we found that mobile banking obvious advantages to compensate for the financial gap, especially the vast rural areas, due to the low cost.