Mobile Banking Updates - May 22

Android's Mobile Dominance Fails to Simplify Bank App Development
"Google's Android mobile operating system has grown its market share lead, according to new data from Gartner. Indeed, the research firm says the platform accounts for 74.4% of smartphone units sold worldwide during the first quarter of 2013. Furthermore, Gartner found there are almost 50% more Android smartphones in the market than a year ago."

Chase Tops Keynote's Mobile Banking Ranking a Third Time
"JPMorgan Chase has yet again won a ranking of mobile banking apps. In this one, Keynote's semiannual mobile banking scorecard, Chase came in first for the third time in a row. Wells Fargo came in second and Bank of America third. In late April, Forrester dubbed Chase the best in mobile banking out of 15 large multinational banks, for the second time in a row. What does Chase do right to get the top nod so often?"

Banking Up Launches at FinovateSpring, Lets Any Business Offer Customers a Trusted Alternative to Traditional Banking
"Banking Up launches at FinovateSpring today a first-of-its-kind personal finance platform that lets banks and businesses provide customers with a smart, mobile alternative to traditional checking accounts. Along with the launch, Plastyc Inc., which developed Banking Up, announced that it is now doing business as Banking Up. Over 24 million households have poor access to mainstream banking, and 91 percent have mobile phones and smartphones, according to the FDIC. Banking Up gives banks and businesses a scalable way to provide customers in their local communities with an affordable, high-quality banking option."

Green Dot Sets July 4th Launch Of GoBank
"Green Dot, the provider of prepaid debit cards and other financial products, is looking to launch its big move into the mobile banking market on July 4th, the company said Tuesday afternoon. According to Green Dot, it plans to launch its service, GoBank, on Independence Day on iPhone, Android, and online--and also will be making a big, national push to market the service."

Is electronic banking killing the bank branch? PNC pares branches citing customers' online trends "Another bank branch bites the dust. Three and counting among PNC Financial’s branches in Central Pennsylvania. Another ten PNC branches in Western Pennsylvania. And more to come, as banks evaluate their networks and analyze mobile banking and ATM trends. For so long, it seemed a bank branch was opening on every corner. That era might be coming to an end."

International Mobile Banking Updates - May 21

Mobile Expert Series Mark Crofton
"Cognizant SMAC Analyst Kevin Benedict interviews SAP's Mark Crofton at SAPPHIRE NOW 2013 on the mobile solution and mobile banking market in Latin America."

RBC, Bell Mobility add to payments rivalry
"Canadian bank RBC and Bell Mobility, the country’s second largest mobile operator, are to launch a service that further heats up competition in the country’s payments market. RBC’s mobile banking customers will be able to buy goods in shops using their debit or credit cards, so long as they have a compatible NFC-based smartphone from Bell Mobility. The service will launch later this year, following a roadtest with selected merchants and consumers in the summer."

UPDATE 2-Safaricom warns on mobile banking tax as profit surges
"Kenya's top telecoms firm Safaricom expects to maintain its almost 40 percent earnings margin this year but "premature taxes" could stifle growth of lucrative mobile phone-based money transfers, its chief executive said on Tuesday. Safaricom, 40-percent owned by Britain's Vodafone, said pretax profit climbed to 25.5 billion shillings ($304.30 million) in its year to end-march, off the back of 16 percent growth in total revenue."

Noor Islamic Bank launches reality mobile banking app
"Noor Islamic Bank (Noor)’s augmented reality ‘Bank in Your Hand’ smartphone and tablet application is now available for download from Apple’s App Store, the banks announced in a press reealse. Work is also in progress on adapting the app to other smart phone platforms, it said."

HSBC Bank Brazil expands DIGIPASS for Mobile deployment
"VASCO Data Security International, Inc. (Nasdaq: VDSI; www.vasco.com), a leading software security company specializing in authentication products, announces that HSBC Bank Brazil, a subsidiary of HSBC Holdings, one of the largest financial conglomerates in the world, deployed the DIGIPASS for Mobile technology for an enhanced group of retail and corporate customers, while expanding the offered online and mobile services. Currently, more than 90,000 account holders use their mobile device to access all self-service channels to execute financial transactions. With this enhancement, HSBC Brazil is the first and only financial institution worldwide to fully integrate access to internet banking, mobile services, contact center, ATMs and e-commerce."

SAP Technology powers mobile banking for Standard Bank communities
"STANDARD Bank has introduced the SAP business solutions in bringing banking services closer to the people of Tembisa in South Africa. It introduced AccessBanking as a service to help people in communities apply for a bank account and then use the account. It has used technology from SAP to enable agents to enable customers to set up bank accounts without customers having to travel to a major city. SAP technology is used to enable new accounts to be configured in the field using a mobile handheld device."

Mobile banking up 11.5% in South Korea
"The daily use of mobile banking in South Korea rose 11.5 percent in the first quarter from three months earlier, an increase aided by the growing use of smartphones, reports Yonhap News Agency citing the Bank of Korea. Transactions by mobile banking or banking services accessed via mobile handsets were valued at KRW 1.26 trillion per day in the January-March period, up from KRW 1.13 trillion three months earlier."

ING DIRECT Mobile Banking App Wins BlackBerry Achievement Award for 'Putting Customers First'
"ING DIRECT has been recognized for its unique mobile banking experience on BlackBerry® 10 smartphones. The bank, which was the first Canadian financial institution to introduce a BlackBerry 10 app, has won the BlackBerry Achievement Award in the 'Putting Customers First' category, which acknowledges customer-centric experiences that make a business stand out. The ING DIRECT mobile app provides customers with a convenient and secure way to conduct their banking transactions. The app puts an increased focus on savings through features like "Orange Alerts", pushing notifications to the BlackBerry® Hub for triggers such as account balances reaching pre-determined thresholds. This is just one of the intuitive features the bank has built into its mobile app with the aim to simplify and modernize banking for all Canadians."

PMC Bank Deploys Array's Application Delivery Controller
"Punjab Maharashtra Cooperative Bank (PMC Bank), provider of banking services to customers with utmost ease and convenience, has chosen Array Networks' ADC and server load balancing solutions to serve their customers with secure high speed connectivity for internet and mobile banking. PMC Bank required high availability, speedy performance and reliable security for their internet and mobile services portals. They wanted to enhance their online transaction processing in order to provide customers with good user experience and around the clock service. PMC Bank conducted a detailed requirements analysis with their compliance and networking teams which was subsequently shared with various vendors. All the leading ADC products were tested; Array Networks' Proof of Concept (POC) solution was selected after a month of live internet usage at PMC's production site."

Banking now goes high-tech with unmanned services
"Standard Chartered Bank customers no longer need to endure long queues to access financial services after the lender opened a digital branch last week that offers unmanned banking services. Dubbed ‘Breeze@ The Junction’, the electronic banking unit provides all the banking solutions available at traditional branches, but through online and mobile banking as wells as intelligent ATMs. The units are fitted with iPads, personal computers, touch screens mounted on walls, and free wireless Internet; allowing customers to carry out transactions on their own."

Mobile Banking Updates - May 19

EyeVerify Rolls Out Authentication Service for Mobile Banking
"EyeVerify, a maker of identity management software for mobile banking, is rolling out its service to the financial industry. The Kansas City-based company said Monday that banks, payments providers and other businesses can use its EyePrint system to secure accounts, authenticate transactions and restrict access to systems. EyePrint renders the optical equivalent of a fingerprint by matching blood vessels in the whites of people's eyes to verify their identity automatically."

Mobile Banking Explodes and Keynote Announces Who Does It Best – One Billion Mobile Banking Consumers Expected by 2017
"Keynote® (KEYN), the global leader in Internet and mobile cloud testing and monitoring, today announced the results of the Spring 2013 edition of the Keynote Mobile Banking Scorecard, first launched in 2011 and the standard in benchmarking consumer mobile banking offerings."

Citi sets sights on international markets to cement mobile banking focus
"Financial institution Citi is rolling out its iPad application internationally to reach new groups of consumers and show them how mobile banking works. Citi has rolled out the iPad app to Russia and Hong Kong as part of a bigger marketing strategy to expand its global footprint this year. Mobile has played a key role for Citi over the past few years to help clients manage their accounts from their handsets."

APWG Report: Mobile Device Crimeware Evolves into Global Criminal Marketplace in Response to Mobile Payment and Banking Expansion
"The sprawling mobile devices marketplace has spawned an industrialized mobile financial fraud plexus that today drives increasingly sophisticated criminal technical innovation to exploit the mobile devices explosion. And it is funded by increasing revenues derived from potent new developments in mobile malware, a new APWG report released concludes. In a “post-PC” era, mobile devices increasingly present an attractive, practical and economical alternative to traditional desktops. In the coming years, global mobile payments are predicted to exceed $1.3 trillion, moreover, presenting a mother load of opportunity for cybercrime gangs who appreciate the vulnerabilities of these peripatetic communications and computing platforms, the APWG’s analysis reports."

Refundo Launches Mobile Banking App at FinovateSpring 2013
"Refundo, a national provider of financial services to the underserved, launched its widely-anticipated mobile banking app today at FinovateSpring 2013, which is now available for free download on the App Store. FinovateSpring is a demo-based conference for innovative startups and established companies in the fields of banking and financial technology, and is held today at the Design Concourse Exhibition Center in San Francisco."

Chase Tops Keynote's Mobile Banking Scorecard for Third Time in a Row
"Chase took top honors in the Keynote Mobile Banking Scorecard for overall mobile web experience in Q1 2013. This is Chase's third consecutive win in Keynote's ranking of mobile offerings among the 15 largest U.S. banks. In the latest Keynote Scorecard, Chase ranked #1 in two of four categories - Functionality and Ease of Use - to take the top spot overall."

Be smart about mobile banking
"Mobile banking represents a huge leap forward in the area of banking convenience. It also represents a huge risk to your personal information. Here’s how to minimize the risk and enjoy the convenience. Getting up-to-the-minute account information and having immediate access to funds via a mobile device is one of the great technical accomplishments of banking. The problem is that without adequate security precaution, this ease of access can be available to people who have no right to it. To protect yourself, a person does well to do two things:"

Mobile Banking Updates - May 16

Mobile Banking Revolution (Infographic)
"It’s no secret that mobile banking has taken off in recent years and continues to grow by leaps and bounds. To help illustrate just how much mobile banking is growing FICO pulled together an infographic with some impressive mobile stats. For example, did you know that by 2017 an estimated 1 billion people will be using mobile banking? Read on to learn more about the mobile revolution."

Mobile banking expected to grow 18% annually through 2017
"The evolution of technology has brought on an onslaught of change to the banking industry, with banks becoming more convenient and consumer-friendly through mobile strategies, according to an article from Business Insider. The article says banks have become more competitive in order to stay ahead of other financial institutions. Currently, the mobile-banking user base is expected to grow 18% each year until reaching more than 1 billion users by 2017. By the end of this year, 590 million consumers will be using the technology."

USAA launches voice command mobile banking
"USAA members can now ask their iPhone how much they spent on groceries last month or tell it to pay the mortgage on Thursday. It's all done through voice commands that the financial institution's new software not only can hear and understand, but act upon. USAA has embedded Nuance's voice recognition service known as Nina into its iPhone app for mobile banking."

Survey: 75% comfortable with mobile banking
"Mobile banking has been getting a lot of press lately. Just last week, Hawaii-based American Savings Bank announced that adoption of their newly-introduced remote deposit capture mobile feature had exceeded all expectations. Juniper research recently published figures showing that the number of consumers using tablets to pay bills will soar between now and 2017, and mobile document capture software firm Mitek revealed 12 million Americans have now deposited more than $40 billion into bank accounts using mobile apps."

What will banks do to lure more people to online banking?
"The excitement around online banking is fading. After four years of rapid growth, banks are seeing only a trickle of new customers using their online services. As a result, consumers can expect more incentives as banks try to move more people out of the branches and away from the ATMs and instead deal with them through their computers and cellphones."

Mobile Banking Plays Key Role in #1 Factor for Customer Loyalty According to Yodlee Interactive Survey
"Banking convenience dominates all options amongst reasons to stay with banks, according to a new study conducted online by Harris Interactive on behalf of Yodlee Interactive. With the convenience of online and mobile banking, more customers are utilizing these services, while banks are responding by reducing the number of physical branches. This survey was conducted among 2,219 Americans (ages 18+) between February 28 and March 4, 2013."

Device, Channel And Security Choices Featured At Mobile Banking & Commerce Summit
"The 2013 Mobile Banking & Commerce Summit, hosted by American Banker and Bank Technology News, will shine on a spotlight on the next generation of mobile banking applications and recent advances in mobile commerce and payments. The event will take place June 3-5, 2013 at the InterContinental Miami Hotel in Florida."

Does JPMorgan Plus Apple Equal a Mobile-Banking Home Run?
"Banking is going mobile. The largest U.S. banks have been fairly quick to adopt the new technology and are reaping the benefits as millions of users flock to mobile interfaces. JPMorgan Chase sports one of the best-received mobile banking platforms. Despite being a relatively small portion of the bank's overall operation, its ability to innovate new mobile products and efficiently serve more customers is good news for investors. In this video, Motley Fool banking analysts Matt Koppenheffer and David Hanson tell investors why this recent trend benefits JPMorgan, as well as tech giant Apple."

Mobile Banking Updates - May 15

The Debate Around Responsive Design in Mobile Banking
"Responsive web design — a method of designing and developing websites such that they display well on a range of devices — is a seductive concept, especially for banks that struggle to maintain mobile banking apps for iOS, Android, BlackBerry and Windows devices. The ideal is the company has one set of code, one product to manage and it's set, no matter what smartphones and tablets customers are using. The reality is not so simple, and a debate is going on in the industry around how useful responsive design is, and whether or not it can replace native apps."

Mobile Banking Without Apps
"Eric Bangerter, an executive with a $1.6 billion institution in Wisconsin, explains why the risks associated with mobile apps led his team to opt for using a Web-based platform for mobile banking instead. Bangerter, vice president of e-commerce and Internet services for UW Credit Union in Madison, Wis., says many U.S. banking institutions have too quickly jumped onto the mobile-application bandwagon. Apps pose risks for users, and unforeseen authentication challenges for the institutions that offer them, he says in an interview with Information Security Media Group."

FIS Demonstrates the Latest Mobile Innovations that Are Supporting More than 20 Million Users at FinovateSpring 2013
"Dominating the mobile financial services market through the support of more than 20 million consumers, FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, announces it will be showcasing its latest mobile innovation, the FIS Mobile Wallet with Cardless Cash Access, at FinovateSpring 2013 in San Francisco on Tuesday, May 14. The FIS Mobile Wallet is a white-labeled, cloud-based mobile payment and offer redemption solution that allows financial institutions to fully brand and manage the customer experience, while offering consumers convenience and best-in-class security."

Alamo FCU to debut concierge banking
"Alamo Federal Credit Union is introducing concierge banking to San Antonio. If any customer is interested in a car loan, mortgage or any other product the credit union is offering, Alamo FCU will send a representative out to the person’s home, office or coffee shop. 'Most banks have invested heavily in expensive headquarters and facilities with their customer’s money. Alamo FCU is investing in superior service and dividends for really busy people,' says AFCU President Max Villaronga."

KOBIL Technologies Selects Security Professional Malloy as Director of Business Development
"KOBIL Technologies, Inc. a KOBIL Group Company and leader in Secure Payment Technology announced it has appointed Donald Malloy as Director of Business Development. Malloy has more than 20 years' experience in the Security and Payment industry and is responsible for building the business in the Americas for KOBIL Technologies in the area of Mobile Banking and online Security. His primary focus will be to gain new partners in the area of Banking and IT security with the objective to position joint products on the market. Don spent more than 7 years developing the Display Card business with NagraID Security and prior to that was Business Development and Marketing Manager for Secure Smart Card ICs for both Phillips Semiconductors and Infineon Technologies."

Financial Matters: Banking on the go
"Bankers hours aren't what they used to be, and they don't need to be. eCommerce Manager Marilyn Lamb talked about how you can track your banking with BayPort Credit Union's Banking on the Go."

International Mobile Banking Updates - May 14

Mobile banking apps to be tried on Everest
"Mountaineers Horacio Galanti and Horacio Cunietti have commenced a unique Himalayan expedition to summit Everest to mark the 60th anniversary of its first ascent. The expedition will also push the boundaries of mobile technology in extreme environments and help in the recovery of debris left behind on the world’s highest peak. While on their expedition, the duo are expected to subject Standard Chartered’s Breeze mobile banking apps to the rigors of some of the most challenging environments known by attempting to trade stocks and transfer funds during their journey."

Mobile money accelerates financial inclusion
"The volatile economic environment which has prevailed in Zimbabwe over the past decade largely contributed to the failure of telecoms and banking institutions to adopt mobile banking. But over the past year there has been a foray by telecommunication and banking institutions to establish mobile banking platforms. Examples of mobile banking products that have been launched include: Kingdom Bank’s Cellcard, Tetrad’s eMali, Econet Wireless’ Ecocash; Cabs Bank’s Textacash, Interfin Bank’s Cybercash and CBZ Bank’s mobile banking, among others."

Corporation Bank launches app for iPad, Android
"City-based Corporation Bank had launched an app for iPad and Android. The Bank recently had come out with a special mobile banking app through Android and iOS. This app can be downloaded free from app store for iOS and Google Play for Android phones and tablets. The bank is one of the first public sector banks to introduce transaction-based banking in tablet PCs and iPads."

Central Bank calls for tight security in mobile banking
"Bank of Uganda has urged banks to ensure that they operate a secure and robust mobile banking platform to protect customers’ mobile bank accounts. 'A number of banks are now offering mobile banking products. It is in light of this that I re-iterate that every new product comes with its attendant risks. It is imperative that potential risks are identified and appropriate mitigation measures developed,' Ben Sekabira, the acting executive director supervision, Bank of Uganda, said."

Valimo Offers over One Million Tele2 Norway’s Mobile Users Easy to Use Strong Authentication, Mobile ID and Legally Binding Electronic Signature
"Valimo, a leading solution provider for mobile user authentication and digital signature software, announces that Tele2 Norway, a major European mobile operator, has selected its Mobile ID authentication service platform. The Valimo solution will offer over one million Tele2 subscribers in Norway the opportunity to securely access services that require strong, two-factor authentication, such as internet banking or e-government applications, using their mobile phone to generate a legally-binding electronic signature. As a first step, this new service will enable highly secure and legally binding log-in for online and mobile banking with four major banks in Norway."

Kenyan mobile innovation hard to export
"Kenya's mobile banking innovation may prove difficult to export. The African country has led the way with an SMS-based payment service called M-Pesa, which launched in eastern India last month.The government's push to give all Indians the right to banking access bodes well. But financial regulations and fierce competition may mean M-Pesa in India will face higher hurdles than its Kenyan role model."

Capitec banking app on its way
"Capitec says its dedicated banking app will be coming near the end of its current financial year (February 2014), and will be designed to run on both smart and feature phones. This follows the recent launch of Absa‘s banking app on 10 April 2013 – the last of South Africa’s so-called “big banks” out the door with a dedicated mobile application. However, Capitec told BusinessTech that it does not feel pressured by the competition to released a specialised banking app for smartphones, indicating further that its digital plans differ from those of its competitors."

E-banking survey reveals surge in mobile banking
"Online research specialist Columinate has released the results of the second annual Internet Banking SITEisfaction survey, one of the most comprehensive reports on customers' usage and perceptions of e-banking in South Africa. The survey quizzed over 1,400 South African e-bankers on their online banking habits and attitudes, and revealed several interesting trends. Henk Pretorius, Columinate CEO, explains that the survey is important as it provides insights into one of the fastest changing areas of customer banking."

Mobile and Alternative Payments in Mexico
"The Mexican consumer financial services landscape is in the midst of great change, driven by the confluence of technological innovation, innovative forms of branch expansion, regulatory changes in consumer deposit accounts and bank cards, and a strong push to facilitate mobile banking and payments. Indeed, major banks and telecommunications companies, most notably Telcel, have launched mobile banking and payments platforms that we expect to gain significant traction in 2013. At stake is the transformation of the Mexican banking system--from remittances to redefining branch banking--which can address longstanding financial inclusion disparities by reaching tens of millions of consumers heretofore unable to participate in formal banking services."

Bell and RBC strike deal to launch a mobile payment service, will be available “by the end of the year”
"Mobile payments in Canada are slowly increasing in popularity and will gain even more traction this summer. Rogers recently teamed up with CIBC to launch ‘suretap’, and Bell announced a partnership with RBC this morning. The new mobile payment solution will only be available for RBC customers who download the RBC mobile banking app, plus have a compatible Bell smartphone. The mobile payment option will be included into the current RBC Mobile banking app, not a standalone app, and will appear on the homescreen menu. The app will allow users to purchase small ticket items (debit or credit) from their smartphone."

HSBC seeks balance between mobile payments, Hong Kong branch network
"The increased popularity of mobile payments in Hong Kong has pushed HSBC to invest in related technology, but the bank said it would not stop expanding its branch network. Diana Cesar, head of retail banking and wealth management at HSBC in Hong Kong, said the lender would strike a balance between different banking services, even as mobile banking emerged as a growth area. In the first quarter, average monthly HSBC mobile banking logins increased more than 60 per cent from last year, Cesar said at the launch of a wealth management app."

Mobile Banking Updates - May 12

Study: mobile banking apps key to bank loyalty
"Add mobile banking to ATMs as a major channel for cultivating bank customer loyalty. According to a study from Yodlee Interactive, a developer of financial mobile apps, one-third of those who use mobile banking name it as a reason why they stay with their bank."

DeMarrais: FDIC tips for safe mobile banking
"When's the last time you went into a bank? For many of us, trips to a local bank were once near the top of our weekly to-do list, but technology has changed that dramatically, allowing us to do most of our banking from the convenience of home or office whenever it suits us. Banker's hours? They're no longer an issue when you combine direct deposit, ATMs and online banking. Bank visits have been limited largely to opening accounts, applying for loans, resolving disputes or looking for a calendar."

Federal Reserve Board Survey Shows Growth in Mobile Banking and Payments
"Americans are increasingly using their mobile phones to access bank accounts, credit cards, and other financial accounts, according to the Federal Reserve Board’s latest report on mobile financial services. As of November 2012, 28 percent of all mobile phone users and 48 percent of smartphone users had used mobile banking in the past 12 months. This represents a significant increase from 21 percent in December 2011 for mobile phone users and 42 percent for smartphone users. While relatively less common, the use of mobile phones to make payments at the point of sale increased threefold over the same period, as 6 percent of smartphone owners reported using their phone to make a purchase."

Few Bank Shoppers Say Mobile Check Deposit Is A ‘Must Have’
"Within the last two years, more and more banks and credit unions have begun offering mobile check deposit on their mobile banking platforms. Today, there are 137 institutions listed on FindABetterBank.com and 33% offer mobile check deposit (see table below). Many banks and credit unions plan to roll out the service within the next 12 months."

ACLEDA Bank, Fiserv win tech implementation award
"Financial technology company Fiserv and Cambodian bank ACLEDA have won an Asian Banker Technology Implementation Award in the category "best mobile banking project." The award recognizes a collaboration by Fiserv and ACLEDA to extend the ACLEDA Unity mobile banking and payments service to new, untapped consumer segments using Mobiliti Reach from Fiserv."

Understanding Consumer Adoption of Mobile Banking in 2013
"It came a lot faster than anyone predicted: Mobile banking is growing so quickly that it is even overtaking traditional online banking. Just last week, the second largest bank in the United States, Bank of America, announced that its customers are logging into the bank’s mobile platform more than its online platform. It’s quite possibly the most significant innovation across the industry since the ATM."

Mobile Banking Plays Critical Role In Customer Loyalty While Tablet Apps Lag Behind
"A lack of banking apps optimized for tablets leaves consumers to resort to a cruder mobile web experience. According to a study from Yodlee Interactive, mobile banking may keep loyalty high while physical branches continue their decline. 71% of mobile bankers are either satisfied or very satisfied with their bank’s mobile and web offerings. One in three of those who use mobile banking now view their mobile banking experience as a reason why they stay with their bank."