The Role of Mobile Banking in Serbia

The aim of this paper is to provide the current situation of mobile banking implementation in Serbia. M-banking has changed the traditional business model which users are practiced in the use of banking services in the traditional manner. Mobile banking has allowed an increase in the number of existing distribution channels that banks used to offer their services. Following the tendencies of the development of new services, banks in Serbia are increasingly opting to offer their banking services via mobile phone. Based on the analysis that we have conducted in this paper, we find that 70% of banks that are operating in the banking system offers its clients m-banking services. Services are offered with much lower commission than classic banking, therefore the number of m-banking users dramatically increases in the last three years. Mobile banking plays a central role in the future of banking development.