mChoice™ Banking reduces the receipts and allows customers to do the financial activities using their own handset, which will eliminate the paper work. Also mChoice™ Banking is targeting the unbanked rural markets, where people will have to go a long way to do the financial activities. Through this solution, people will be able to finish all the financial transactions at one place, which will reduce the fuel consumption. Through this solution the financial institutes will be able to open virtual banks at every customer's handset, which will reduce the need for physical banks. This will reduce the land consumption.