Here is a very interesting application of m-banking. This article in Business Line reports mobile share transfer:
Such VAS services are forming important part of the ever expanding telecom offerings. Offerings that go much beyond voice and SMS. For example, check this earlier post where I spoke about location based services being used to encourage use of public transport in the Bay Area.
Security is very important in these cases. At the least, the interface should take multiple confirmation since the network should be sure that the subscriber is indeed requesting this service.
Check one of my earlier articles if you want to read more on that:
Mobile Money Transfers - Opportunities and Issues