Mobile Core Banking Server

Part of the Topics in Intelligent Engineering and Informatics book series (TIEI, volume 11)


Banking is essential to modern economies, yet nearly half of the world’s people are unbanked and underserved by banks. This is mainly due to the high operating costs of banks that are passed on to retail customers, driving away customers who are not able to afford the high service costs. Without having access to the financial system the unbanked and rural poor have little means to engage in mainstream economic activities. In this chapter, we present a low-cost mobile phone-based core-banking system. This system was designed to provide retail banking services to the world’s unbanked population and rural poor of 2.2 billion based on a cashless banking system that reduces operating cost and lending risks and therefore lower the current exorbitant rates charged on retail lending and micro-credit. Our analysis and evaluation shows that the mobile core-banking system on a low-cost mobile device (an Android tablet) is able to serve over 15,000 micro-banking customers. The system is therefore suitable for retail banks or microfinance institutions.


Mobile banking Rural finance Retail banking Cashless payments SMS banking Financial inclusion 



We would like to thank Rajendhar Dayalan, Ramesh Ramachandran, and Kevin Raj, who were involved in the evaluation and development of the mobile banking server and the JCU Singapore student volunteers who helped during the trial. The authors also would like to thank the Republic Polytechnic (RP) students who participated in the trial and the RP staff who organized RP students to participate in the trial and who conducted the survey, in particular, Leslie Sim, Elaine Li, Shamla Ramasamy, Joshua Yeo, and Sim Choon Hou.


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Copyright information

© Springer Science+Business Media Singapore 2015

Authors and Affiliations

  1. 1.Financial IT AcademySingapore Management UniversitySingaporeSingapore
  2. 2.School of Business (IT)James Cook UniversitySingaporeSingapore

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