South Indian Bank recently launched its mobile banking channel and has christened it as SIB M-Pay. The facility has been launched under the Core Banking Platform (CBS).
Mobiles have given a whole new dimension to the way baking is done. Mobile Banking facility, which allows customers to conduct banking transactions through mobiles, has evolved as another stream of banking.
Through this facility the bank customer can now transfer funds through their mobiles even on holidays as well. The facility will function on real-time basis and all the transactions will be followed by an SMS confirmation.
The more attractive feature of this facility is that is does not attract any extra charges.