Mobile Banking Updates - Nov 30th

PayPal Passcode Sent by Text Message
"PayPal Inc. announced the introduction Monday of PayPal SMS Security Key, which transmits a passcode to customers' mobile phones using the short message service for text when they log on to the payment service's Web site."

Are You Ready for Mobile Banking (Again)?
"Mobile banking can be viewed as a hook for customer acquisition, but takedown shouldn't be relied on for customer retention. This tool of convenience can complement an institution's existing offerings, but before joining the mobile banking bandwagon, evaluate whether it's right for your processes, personnel and customers."

Regions Mobile Banking Service Available for US Users
"Regions Financial Corporation has announced the Regions Mobile Banking, which can be accessed by wireless customers of AT&T, Verizon Wireless, Cellular South and Alltel Wireless."

ClairMail Hits 12 Transactions per Month Milestone
ClairMail, a vendor of mobile phone-based customer interaction products, reportedly has announced that its so-called “ClairMail System” has reached “millions of monthly mobile banking transactions” and increased growth, with more than 12 mobile banking transactions conducted every month per consumer."

ClairMail Chosen by PNC to Enhance Mobile Banking Services
"ClairMail, Inc., the leader in 2-way mobile phone-based customer interaction, today announced that PNC Financial Services Group, Inc. expanded its mobile banking services by integrating ClairMail's comprehensive mobile banking solution."

Sybase CEO sees mobile commerce as future
"John Chen, chairman, CEO and president of Sybase, has led a dramatic turnaround for the Dublin company by focusing it on infrastructure software that helps companies go mobile. Now a leader in mobile middleware, device management, messaging and mobile databases, Sybase topped $1 billion in revenue last year and is on pace for a record 2008."

Jack Henry & Associates Announces 103rd Mobile Banking Customer
"Jack Henry & Associates, Inc., a leading provider of integrated technology solutions and data processing services for financial institutions, today announced goDough, its state-of-the-art mobile banking solution, has been adopted by 103 of its core financial institution clients."

Diebold offers mobile banking through strategic alliance with ClairMail
"Diebold, a provider of self-service delivery and security systems and services, has announced that it is providing ClairMail's two-way mobile platform, as an integral part of its total outsourcing strategy, through a strategic alliance with ClairMail."

Mobile Finance: Indigenous, Ingenious or Both?
"In Ghana, it's popularly known as susu. In Cameroon, tontines or chilembe. And in South Africa, stokfel. Today, you'd most likely call it plain-old microfinance, the nearest term we have for it. Age-old indigenous credit schemes have run perfectly well without much outside intervention for generations. Although, in our excitement to implement new technologies and solutions, we sometimes fail to recognize them. Innovations such as mobile banking -- great as they may be -- are hailed as revolutionary without much consideration for what may have come before or who the original innovators may have been."

Txt Me: SMS Gains Mobile Bank Traction
"Most mobile banking services use browsers and specialized software available for high-end phones, but several financial companies are turning their attention to the basic text message. Advocates of texting say that this simple format can help banks reach almost any customer with a mobile phone, and that their immediacy makes texts well suited for alerts that can prompt a quick response."

Chase Mobile Banking from mShift

It's official. Chase has launched their browser-based mobile banking solution at Chase.mobi

This is in addition to their existing solutions:
* Chase Text Banking
* Chase Cards Downloadable Application




Also note - this is a huge WIN for mShift the technology provider. To date mShift has signed more institutions than any other vendor, and now they can also add a Top 5 FI to their resume.

Mobile Banking Announcements for BAI

Citi and Firethorn Launch Citi Mobile for Cards
"Today, Citi and Firethorn Holdings, LLC, a Qualcomm company (NASDAQ: QCOM), introduced Citi Mobile for Cards, an advanced mobile solution that allows Citi credit card customers to quickly, easily and securely access real-time credit card account information on their mobile phones. Citi Mobile for Cards is now available to AT&T subscribers as part of AT&T Mobile Banking, and to Verizon Wireless customers who download and use the free mobile banking application on Get It Now."

Mobilearth and Cooperative Services bring Mobile Banking to the Credit Unions of Georgia.
"Mobilearth, a provider of Mobile Banking software for financial institutions is pleased to announce a reseller agreement with Cooperative Services, Inc. to provide mobile banking to credit unions throughout the state of Georgia. A unique pilot program over the summer gave credit unions in the Atlanta area the opportunity to try out mobile banking without no strings attached."

Monitise Americas Announces 23 New Mobile Banking Partnerships
"Monitise Americas has announced that 23 additional financial institutions have signed agreements with Metavante to provide mobile services to their customers and members. These new agreements add to the growing list of financial institutions that have chosen the Monitise Americas solution for their mobile needs. Metavante is a leading provider of banking and payments technology."

S1 Corporation signs tenth FI mobile banking customer
"S1 Corporation (Nasdaq: SONE), a leading global provider of customer interaction software solutions for financial and payment services, today announced that ten customers have licensed S1 Mobile, which enables financial institutions worldwide to drive mobile banking and payments revenues from their retail and business customers."

Sybase 365 Announces Partnership with paybox Furthering Mobile Commerce Globally
"Sybase 365, a subsidiary of Sybase, Inc., the global leader in mobile messaging services, today announced a partnership agreement with paybox, a leader in mobile payment solutions, that will extend mobile payments and mobile money services to customers worldwide."

FIS to Offer Obopay Mobile Payments to its Bank Customers.
"Fidelity National Information Services (FIS) is to offer Obopay's mobile person-to-person payment service to FIS's roughly 1700 bank customers, the pair announced at BAI's Retail Delivery show. Jacksonville, Fla.-based FIS is starting to sign up interested banks, Kishore Bayyapureddy, senior vice president of FIS told BS&T."

ClairMail Customers See Rapid Growth and Adoption of Mobile Banking
"ClairMail, Inc., the leader in 2-way mobile phone-based customer interaction, today announced that the ClairMail System is processing millions of monthly mobile banking transactions and seeing tremendous adoption and continued growth, with over 12 mobile banking transactions conducted every month per consumer."

CPNI integrates P2P m-payments system with Sun technology
"CPNI (CPNI) today announced that it will offer Financial Institutions the integration of CPNI's Phone Authorized Transfer (PAT) mobile commerce software with Sun Java Composite Application Platform Suite (Java CAPS)."

Tapping Your Cell Phone by Bob Segall

Over the last few years you've probably been exposed to a great deal of information on the topic of mobile banking security, but the implications of what you're about to see are staggering.

You can read the story Tapping Your Cell Phone by Bob Segall but I'd recommend that you watch the YouTube video to fully appreciate what's at stake.

Mobile Banking Updates - Nov 16th

Firethorn Introduces New Capabilities To Enhance Mobile Banking and Payments
"Leading mobile commerce enabler Firethorn Holdings, LLC, a Qualcomm company, today announced the introduction of its mobile application upgrade which will enable Firethorn to transition its financial institution and wireless operator relationships from banking to broader mobile commerce functionality."

A Look at RBC's Mobex Mobile Payment Service
"In late September, RBC Royal Bank in Canada announced the launch of a trial of a text message-based mobile payment service called RBC Mobex. We recently heard from a colleague in Canada who's delighted with the service."

Monilink reaches 1 million transactions in October
"Monitise's UK mobile banking service Monilink reveals it has processed over one million transactions during October, a 15 percent increase compared to the previous month."

First Interstate - Mobile Banking Security Using SMS
"First Interstate Bank, a regional bank with 50 locations and 100 ATMs in Montana and Wyoming, has launched a mobile banking site at firstinterstate.mobi."

mFoundry to Provide Mobile Banking & Payments Solutions to Zions Bancorporation
"Mobile financial services leader, mFoundry today announced that Zions Bancorporation has selected mFoundry's financial services platform to power its mobile banking and payments offerings."

Mobile Banking Updates - Nov 11th

Report: Smartphone Adoption Driving Growth of Mobile Banking
"Cell phones may have been invented as a means of carrying on voice conversations in an ultra-portable way, but today these devices have evolved into miniature computers of sorts, and are used for all kinds of fun and practical purposes, including playing games, listening to music, checking e-mail, sending text messages, and performing mobile banking tasks."

Mobile Insecurity: Reality or Just hype?
"The increasing functionality and numbers of mobile banking platforms, the growing sophistication of criminals, and the popularity of smart cell phones create the potential for mobile banking security issues, but industry watchers have widely divergent opinions about how serious the threat really is."

Go Mobile, Go Green
"According to a recent report by Javelin Strategy and Research, 75 percent of consumers still receive paper statements and about 34 percent pay by paper check. Thankfully, a new paperless method is available for reducing the amount of waste the average consumer generates: mobile banking."

Mashreq unveils mobile banking service
"In keeping with the fast-paced lifestyle of the region, Mashreq Mobile Banking will provide customers secure and fully transactional access to their bank accounts through their mobile phones 24/7, from any GPRS / 3G / wireless (Wi-Fi) network, anywhere in the world."

GSM Safer than CDMA?

I found an article on security titled Report: GSM Best for Mobile Banking a couple of weeks ago, and I would appreciate hearing your opinion. I've been in the mobile banking space for awhile now and this is the first time I've heard that one format is "more secure" than another.

Also, here's an article that may help if you're not familiar with the details on which carrier is using which format Twisting Technology.

Chase Mobile Banking from Firethorn

There's a rumor that Chase is preparing to launch a downloadable mobile banking solution; yet, I haven't seen a press release and there's very little to support the claim...until now.

Over the weekend I was checking out a friends new Sony-Ericsson w760a from AT&T when the Chase logo jumped off the page with the words "Coming Soon." I have not been able to confirm or deny the hunch, but to date there's only one vendor that gets preloaded onto AT&T handsets and the Chase logo was grouped with the traditional list of Firethorn clients.

PNC Mobile Banking from Verizon

Verizon has promoted the Firethorn mobile banking application for some time; however, I recently discovered that they are also now promoting the PNC mobile banking application powered by mFoundry. Click here to visit the download page.