What Are The Implications Of Growing Mobile Technology On The Financial Industry?

Smartphones have revolutionised the world in ways which were unthinkable till just about a decade ago. With over one billion users worldwide and more than 2.5 million apps, smartphones have become an integral part of our day-to-day lives. It is no longer a device for merely keeping in touch with people; with increasing capabilities, users have begun exploring their mobile devices for banking, work related purposes, local searches, as a travel aid and more. A study by Facebook indicates that more than 100 million of Facebook’s 500 million users are using mobile phones to manage their account. Essentially, mobile devices have now become highly personalised minicomputers that occupy lesser space than a paperback and has dramatically changed how we interact with each other.