Convergence it seems finds relevance only with the mobile services domain. After witnessing convergence of content, VAS, informative services and offlate insurance services as well, the mobile convergence space is all set to don another feather in its cap with the banking services to be integrated with mobile channel so as to leverage on the potential of the medium and at the same time make the services more convenient for end-users.

Three nationalized banks, State Bank of India (SBI), Bank of India and Union Bank of India are all geared up to launch the services in the coming days.

SBI’s services are expected to be launched in second half of July even as the company said that it is on the lookout for a suitable SMS-aggregator for the services. The services to be integrated with mobile services include account-to-account money transfer, utility bill payments and account-related queries.

Bank of India meanwhile has tied up with BillDesk and aims for the 1.75 crore adder-ssable market of its subscribers from the total subscriber base of 2.5 crore.

This is considered only to be the tip if the ice-berg with India having numerous nationalized banks as well as private sector banks in the fray. M-banking truly holds the potential for service providers to laugh all the way to the banks.