Subject category:
Economics, Politics and Business Environment
Published by:
IBS Case Development Center
Length: 9 pages
Data source: Published sources
Topics:
Banking industry; Cellular industry; Mobile banking; South Korea; Broadband connectivity; Technology innovation; Wireless Internet; 3G (third generation) wireless service; Internet on the palm; N-age (network age); M-age (mobile age); Web content providers; Mobile transaction security; Biometrics
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https://casecent.re/p/54616
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Abstract
By 2004, almost all the retail banks of South Korea were providing mobile banking facilities to their customers and by June 2004, four million transactions had been conducted through mobile phones. While banks increased their profitability by reducing transaction costs and time, the cellular service providers benefited due to the revenues generated from such additional services. The case focuses on the growth of mobile banking in South Korea and how it has become equally beneficial to both banks and cellular companies.
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Abstract
By 2004, almost all the retail banks of South Korea were providing mobile banking facilities to their customers and by June 2004, four million transactions had been conducted through mobile phones. While banks increased their profitability by reducing transaction costs and time, the cellular service providers benefited due to the revenues generated from such additional services. The case focuses on the growth of mobile banking in South Korea and how it has become equally beneficial to both banks and cellular companies.