Mobile banking refers to the use of a smartphone or other cellular device to perform online banking tasks while away from your home computer, such as. Mobile banking is a service provided by a bank or other financial institution that allows its . In practice, banking interfaces are well defined and money movements between banks follow the IS standard. As mobile banking matures. Mobile banking is the act of making financial transactions on a mobile device ( cell phone, tablet, etc.). This activity can be as simple as a bank.