Evolution of electronic banking started with the use of automatic teller machines (ATMs) and has included telephone banking, direct bill payments, electronic fund transfer and online banking.
Many forecast that online banking will continue to be the most popular method for future electronic financial transactions. On the other hand, Mobile Banking refers to provision and availability of banking and financial services with the help of mobile telecommunication devices. The scope of offered services may include banking transactions, administering of accounts and access to customized information.

Fast expanding mobile telephony in Bangladesh has opened up windows of opportunity for creative partnerships of banks and mobile telephone companies in devising cost effective arrangements for delivery of financial services. Bangladesh Bank (BB) has been encouraging such bank-led partnerships which will bring win-win cases for all concerned. A number of such BB approved partnerships are already active and you know that BB has already issued guidelines for mobile financial services to facilitate mobile banking in Bangladesh. Ours is a bank led model where only banks are allowed to lead the mobile financial services. This model is offering an alternative to conventional branch-based banking to the customers through appointed agents being facilitated by the MNOs/Solution Providers instead of bank branches or through bank employees. Agent banking with bio-metric security measures and the use of high end mobile phones are expected to be launched soon in Bangladesh. This bank-led model will add new dimension to the mobile financial services; particularly this will enhance the scope for branchless banking. If we could ensure USSD codes for our banks and their subsidiaries providing mobile financial services (MFS), the MFS would have been more cost effective and user friendly.