CBNITS

Mobile banking is rapidly growing in popularity as most consumers now prefer using their banking apps over visiting a bank physically. Some banking giants have already noticed that branch-based banking is no longer driving the growth. Mobile Apps have been transforming the banking sector. From going paperless to making transactions ultrafast, the inclusion of mobile apps has brought in a tumultuous change in the banking sector. To add to it all, the consumers have been loving it. According to the 2018 Mobile Banking Study, “46 percent of U.S. consumers have increased their use of mobile banking in the past year. Nine out of 10 mobile banking users (91 percent) said they preferred using apps over going into a branch. Banking-as-a-Service (BaaS) - Banking-as-a-Service extends services beyond the normal working hours and outside brick-and-mortar banking halls. Institutions in the banking sector are becoming supplier and more flexible by integrating technology into all