Bank of Maharashtra to launch mobile wallet

Stating that mobile banking will change the way people do banking, a Bank of Maharashtra official said on Wednesday that it will roll out its mobile wallet latest by February next year.

"We are in the process talking to various companies to launch the mobile wallet. Within three to six months, we will roll out the mobile wallet," Sushil Muhnot, the bank's chairman and managing director, told the media here on the sidelines of the FICCI Banking Conclave.

He said the bank would be investing in technology to step up its operations and would focus on rolling out technology-oriented branches.

The official said with the use of smartphones spreading and people embracing technology, the next phase of growth and operations was set to happen on the mobile front.

"Mobile banking will change the way we do banking," he said.

In future, more services and facilities would be made available on the mobile based platform, the official said. "Moreover, mobile wallets are also gaining momentum," he said.