With the increase of smartphones, customers can use new programmes, including "Mobile Banking", which allows customers more choice in transferring funds and check their bank accounts. A number of banks in Egypt have launched mobile "Banking Applications", which provided certain services throughout the day. Mobile Banking via smartphones has an important safety feature for users, providing compensation for losses resulting from fraud, which have occurred via fraudulent calls. Banks also benefit from this service, as they are likely to attract new customer segments through making use of interest in technological tools including smartphones and social media. AppMahal, a social network for discovering and sharing mobile applications, conducted a study on mobile apps in the Arab world. The report said that Egypt ranked third in terms of Arab applications downloaded after Algeria and Morocco, in the period between June and September 2014. In Egypt, approximately 10 banks (or 28.5%) out of the total 35 operating in the country provide mobile banking services. These include Banque Misr, Arab African International Bank (AAIB), National Bank of Egypt (NBE), Citi Bank, Arab Bank, HSBC, Commercial International Bank (CIB), United Bank, HSBC and Arab Investment Bank (AIB). Any user, whether a client or not, can download and install any app for the mentioned banks for free through Google play, the Apple app store, Windows store, and BlackBerry World. CIB's branch and retail sector head Mohammed El-Toukhy said banks will compete in the coming period over the launch of modern mobile technological means by allowing applications to meet the client's needs. El-Toukhy added that those new means are becoming important particularly with the spread of smartphones among customers, pointing out that it encourages banks to offer new services, through online banking, ATM or other means. NBE provides the "Al Ahly App", a free smartphone service available to both NBE customers and non-customers. This app locate the nearest five ATMs via GPS technology, showing all services provided by such ATMs (cash withdrawal – deposit – bill payment – transfer), in addition to the nearest five NBE branches. It also provides some banking information including exchange rates and currency converter. Head of personal banking products sales at NBE Walid Nagy said that using modern technology to develop banking tools is necessary as it supports rapid communication between banks and their customers. Nagy added that Egyptian banks' delay in using mobile banking is due to the nature of the bank's target customers, and reliance on them to increase the core base. "Young people and university students are considered the most beneficial segments from the advanced banking services compared to banks customers the owners of deposits, loans which are the most active in the banking operations" revealed Nagy. Some Arab countries made a good early achievement Egypt in terms of providing mobile banking service, led by the UAE. The smartphone users rate in the UAE reached 52% by the end of March 2014, according to the Telecommunication Regulatory authority (TRA).
