Security solutions for mobile banking services Raghavan Kunigahalli
Series: Financial JournalPublication details: Nairobi The Standard Group Tuesday, February 3, 2009Description: [The Financial Journal] The Standard, February 3, 2009; p.19Subject(s): Summary: Regulation vs Risks According to GSM Association, global mobile subscription has surpassed three billion when compared to about one billion bank accounts. However, risks inherent in these innovative approaches restrict banks and other financial organizations from taking advantage of opportunities from the extraordinary growth in mobile communications infrastructure to its fullest extent. The regulatory regime need not stifle innovation, but can actually help entrench it by laying foundations for fair competition.
Regulation vs Risks
According to GSM Association, global mobile subscription has surpassed three billion when compared to about one billion bank accounts.
However, risks inherent in these innovative approaches restrict banks and other financial organizations from taking advantage of opportunities from the extraordinary growth in mobile communications infrastructure to its fullest extent.
The regulatory regime need not stifle innovation, but can actually help entrench it by laying foundations for fair competition.
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