Mobile Banking Updates

Citibank, Obopay to Pilot Mobile Person-to-Person Payment Service
"Citibank has announced that it will make Obopay’s mobile person-to-person payment service available to Citibank checking account customers on a trial basis. Citibank says it is the first U.S. retail bank to trial an integrated mobile payment service."

Wiring Money Turns Wireless into New Plan by Sara Silver
"Western Union Co., hoping to boost its share of the money-transfer market, is teaming up with RadioShack Corp. and a small wireless company to offer a service that lets people send money through their cellphones.

The service is aimed at immigrants to the U.S. who regularly send money to family members in their native countries. Many of these immigrants don't have bank accounts and send the money by taking cash to a transfer service such as Western Union or a host of other firms."

MIT Media Lab and Bank of America announce Center for Future Banking
"The MIT Media Laboratory and Bank of America today announced the creation of the Center for Future Banking, a five-year collaboration to which Bank of America has committed $3-5 million annually.

"Bank of America is investing in the future of banking. Working with the MIT Media Lab provides a unique opportunity to grow banking in innovative ways that respond to evolving customer behavior, preferences, and trends," said Anne Finucane, Chief Marketing Officer, Bank of America."

City-County Federal Credit Union Selects mFoundry to Provide Mobile Banking Solution
"Mobile banking and payments leader mFoundry today announced that City-County Federal Credit Union (CCFCU) has selected the mFoundry platform for mobile banking. CCFCU will leverage mFoundry’s® Spotlight Financial Platform™ software to offer mobile banking services to their members, including the ability to securely access account balances, to transfer money between accounts, and the ability to find the nearest branch and ATMs. City-County Federal Credit Union is the seventh largest credit union in the state of Minnesota. It has more than 66,000 members and nearly $500 million in assets. The credit union operates nine full-service offices in the Twin Cities area."