What does NMB mean in Banking?

This page is about the meanings of the acronym/abbreviation/shorthand NMB in the Business field in general and in the Banking terminology in particular.

Mobile Banking

Business » Banking

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Definition

What does NMB mean?

Mobile banking
Mobile banking is a term used to refer to systems that allow customers of a financial institution to conduct a number of financial transactions through a mobile device such as a mobile phone or tablet. Mobile banking differs from mobile payments, which involve the use of a mobile device to pay for goods or services either at the point of sale or remotely, analogously to the use of a debit or credit card to effect an EFTPOS payment. The earliest mobile banking services were offered over SMS, a service known as SMS banking. With the introduction of smart phones with WAP support enabling the use of the mobile web in 1999, the first European banks started to offer mobile banking on this platform to their customers. Mobile banking has until recently most often been performed via SMS or the mobile web. Apple's initial success with iPhone and the rapid growth of phones based on Google's Android have led to increasing use of special client programs, called apps, downloaded to the mobile device. With that said, advancements in web technologies such as HTML5, CSS3 and JavaScript have seen more banks launching mobile web based services to complement native applications.

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"NMB." Abbreviations.com. STANDS4 LLC, 2019. Web. 18 Sep. 2019. <https://www.abbreviations.com/term/1760445>.

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