What is mobile banking?

Mobile banking refers specifically to the ability to access a bank's services through a smartphone or tablet app, providing convenience and flexibility for users to manage their finances on the go. This service typically includes functionalities such as checking account balances, transferring funds, paying bills, and sometimes even depositing checks via the device’s camera.

This option highlights the importance of mobile technology in modern banking, as it allows customers to perform essential banking activities without being tied to a desktop computer or visiting a physical branch. The growth of mobile banking reflects the increasing reliance on smartphones for everyday tasks and the banking industry’s adaptation to these technological advancements.

The other options do not accurately describe mobile banking. For example, conducting transactions via a computer refers to online banking, while focusing solely on investment accounts does not encompass the broader range of services that mobile banking includes. Lastly, while secure methods for transferring large sums can be part of mobile banking functions, it doesn't define what mobile banking is in its entirety.