Mobile Banking as an Information System

Mobile banking is an INFORMATION SYSTEM that is made of the following components:

• People - users who conduct bank transactions, the technical team behind the software
  
• Hardware - mobile devices (such as cellphones) used to send and receive mobile banking transactions
• Software - the mobile banking platform that processes the instructions given by the user
• Communication networks - instructions are transmitted through the CELLULAR PHONE NETWORK, which is a network of radio frequencies that allows the transmission of information.
• Data Resources - the mobile banking requires users to use a prescribed way (or protocol) of sending instructions to the system. This protocol is "remembered" by the system's memory/data storage. The information or transaction requested by the user is sent or performed by the system by using data stored in its memory. The system is also capable of storing all the transactions that go through the mobile banking platform. The "electronic wallet" concept stores the "electronic cash" amount in a data storage system. It is retrieved with the use of correct instruction from the users.
• Policies and procedures - specific procedures have been defined for every transaction.

Sources:
O'Brien, J.A. & Marakas, M.M. (2008), Management Information Systems, Chapter 1 [Powerpoint Slides], Slides 48-50, McGraw-Hill

Expanding Horizons (2008, January-March), At a Glance: Mobile Transactions, Nokia Corporation and Nokia Seimens Networks