State and describe four main different features between online banking and mobile banking, using companies in Ghana as an illustration.

Online banking and mobile banking are two distinct methods through which customers can access banking services, but they differ in several key features. Below are four main differences between online banking and mobile banking, illustrated with examples from companies in Ghana: ### 1. **Platform Accessibility** - **Online Banking**: This typically refers to accessing banking services via a web browser on a desktop or laptop computer. In Ghana, banks like **Ecobank** and **Standard Chartered** offer robust online banking platforms that users can access through their websites. - **Mobile Banking**: This refers to accessing banking services primarily through mobile applications on smartphones or tablets. For instance, **Ghana Commercial Bank (GCB)** offers a mobile banking app that allows customers to perform various banking tasks directly from their mobile devices. ### 2. **User Interface and Experience** - **Online Banking**: The user interface is usually more detailed, catering to larger screens, which allows for intricate navigation menus and access to a broader range of features. For example, **First National Bank Ghana** may provide detailed analytical tools and services that are easier to navigate on a larger screen. - **Mobile Banking**: The interface is designed specifically for smaller screens, often prioritizing speed and ease of use over complexity. Banks like **Absa Bank Ghana** create mobile banking apps that focus on quick transactions and user-friendliness, making it easier for users to complete actions like sending money or checking balance swiftly. ### 3. **Functional Limitations** - **Online Banking**: Generally, more banking services can be accessed through online banking, including investment options, loan applications, and complete management of accounts. For example, **Zenith Bank Ghana** offers comprehensive loan management features through its online banking platform. - **Mobile Banking**: While mobile banking apps cover many basic functions—such as checking balances, transferring money, and making payments—some advanced features might be limited. For instance, **Universal Merchant Bank (UMB)** may restrict some of its investment and loan functionalities in its mobile app as compared to its online banking platform. ### 4. **Security Protocols** - **Online Banking**: Security measures are often robust and may include two-factor authentication, complex passwords, and other verification methods to protect user data on web browsers. Banks like **Stanbic Bank Ghana** emphasize strong encryption methods and security for their online banking services. - **Mobile Banking**: Mobile banking apps often require biometric authentication, such as fingerprint or facial recognition, due to the smaller screen size and the growing trends in smartphone technology. **MTN Mobile Money**, while not a traditional bank, illustrates this well by enabling biometric logins and SMS verification for enhanced security. In summary, both online banking and mobile banking have unique features that cater to different user needs and preferences in Ghana’s evolving banking landscape. Banks in Ghana are leveraging both platforms to enhance customer convenience while ensuring security and a good user experience.