Banking has replaced a lot in the past few years as many of us just make an occasional visit to a brick-and-mortar institution for huge deposits, withdrawals, or financial planning. This shift in money management can definitely be attributed to mobile banking in Tanzania.
With more and more jobs migrating to our mobile phones, many firms want to make your financial detail as accessible as pizza delivery or an email from your aunt. But with easier access comes heightened security issues.
Anyway, here are some of the advantages of mobile banking in Tanzania;
Ease of access
One of the initial advantages of mobile banking is that it has made it easy for you to stonewall the typical challenges of accessing your bank once the bank branch closes for the day. You do not have to wait for the bank to reopen the following day to transfer money to another account. You can simply access your 24×7 and transfer funds whenever needed.
When top-speed internet started making its way to every house in urban Tanzania, it has become very simple to carry out banking transactions from the relaxation of your home. Now, mobile banking has taken the full experience a couple of notches higher. You cannot just transact and manage your accounts no issue where you are, but also wherever you need. This is because, unlike the brick and mortar branches, mobile banking app in Tanzania does not have a closing time.
Helps you track your finances
Managing your accounts via a mobile application also puts you in charge of your money and helps you excellent gauge your financial standing. You can forever monitor your account balance and transfer money from a different account if need be. You can check your statement and balance anytime.
An environment-friendly way
Mobile banking is the best and friendly way of banking. It does away with the use of paper as every alert as the transaction is electrically controlled. This contributes to an excellent atmosphere, helping you do your bit in maintaining the balance.
You can beef up the consistency and financial transactions once you log into your mobile banking application by using a multi-level authentication system that demands the user to go via a two-pronged security set-up before managing the account.
These contain a primary password, processing a code that just you possess or other biometric identification patterns that is special to everybody, hence decreasing the danger of forgery.