SMS not a dead technology

Not too long ago, some people thought that WAP-based mobile banking was the future. They are right, of course. WAP will continue to make gains as banks and service providers move to offer more complex transactions and mobile services.

But SMS, the technology of simple text messages, is hardly passé--banks continue to invest in it. While we tend to associate SMS banking with one-way alerts, basically updates on balances and monthly statement information, some vendors, like SoundBite Communications, are working on more robust applications. A new offer allows customers to respond to the bank using a specific five-digit code that will prompt some action on the bank's side, if only by transferring the question to a representative, notes MyBankTracker.

A whole raft of these services is in the works. The technology seems dated, but the appeal lies with the immense popularity of texting. We'll likely see a diverse world in mobile banking technology. The platforms can co-exist. 

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