Mobile Banking Updates - Dec 21st

CPNI Brings Mobile Person to Person Payments to the Unbanked
"In the latest release of their Phone Authorized Transfer™ (PAT™) mobile commerce software, CPNI Inc. (CPNI) announced today the ability to send money to people not yet registered for the service and the ability to send money to people without bank accounts. The functionality, offered by CPNI’s person to person mobile payment solution PATsend™, enables Financial Institutions to attract new customers with an entirely new service."

Tyfone Chip Offers Mobile-Pay Step for Banks and Consumers
"The mobile banking technology vendor Tyfone Inc. has come up with a way for consumers to install payments capabilities in their phones. Banks are eager to turn mobile phones into payments devices using near-field communication chips that can make a handset function like a contactless payment card, but only a handful of phones have the technology today. Tyfone's new NFC product, a platform called u4ia (pronounced "euphoria"), is integrated into a standard memory card that consumers can insert into mobile phones."

Smart Card Alliance Introduces New Contactless and Mobile Payments Tools for Merchants
"The Smart Card Alliance Contactless and Mobile Payments Council today introduced new tools for merchants accepting or thinking about accepting contactless and mobile payments. Merchants can now access a model to calculate return on investment (ROI) for accepting contactless payments, as well as an online discussion forum to interact with and ask industry experts questions and post comments about contactless and mobile payments."

Standard Chartered launches Mobile Phone Banking
"Standard Chartered has launched a new Mobile Banking service, allowing customers to have full transactional access to their UAE bank accounts conveniently and securely through mobile phones both in the UAE and abroad. The new service which works on all mobile phones will allow customers to view bank account and credit card details, transfer funds, top up mobile phone credit and more, all through their mobile phone."

ClairMail Launches Mobile Banking Web Solution for iPhone

"ClairMail, Inc., the leader in 2-way mobile phone-based customer interaction, today announced the latest release of the ClairMail System that includes a premier mobile web solution optimized for the iPhone. The iPhone solution includes the comprehensive mobile banking and payments functionality found in ClairMail's traditional mobile web offering – account management, fund transfers, bill payments, ATM/branch locators and more – presented on the iPhone's rich user interface." Continue Reading >>

Mobile Banking Updates - Dec 16th

Mobile finance business models do they exist? Are they even important?
"Everywhere I go I hear bankers’ refrain “When will we see a viable business model for mobile banking?” Mid-market and smaller banks, credit unions and card issuers that have yet to mobilize their business are taking a wait-and-see attitude toward mobile account access."

Chase Adds iPhone Mobile Banking Application
"JP Morgan Chase & Co. has released Chase Mobile, a new iPhone/iPod Touch application available for downloading from the iTunes Apps Store."

Citi’s Mobile Money Ventures Sets U.S. Rollout for Early ’09
"Mobile Money Ventures, the Citi-backed mobile banking and payments joint venture with South Korea’s SK Telecom, plans a U.S. rollout of an iPhone application in January, followed by a mobile Web-based service that will for the first time create a carrier-neutral banking service for Citibank customers. "

Oman Arab Bank Achieves Revenue Growth and ROI from SMS Based Banking Services
"Derdack, provider of mobile messaging platforms and notification workflow software today announced that Oman Arab Bank, a leading bank in Oman, has achieved significant efficiencies in customer service and the opening of new revenue streams from SMS-based mobile banking."

mBanking Panel 1 - Driving Mass Market Customer Adoption
"The first panel of the roundtable on mobile banking for the bottom billion included two panelists, Brian Richardson from WIZZIT, South Africa and Bold Magvan from XacBank, Mongolia."

Motorola Enhances Mobile Commerce Solutions for Consumers
"First M-Wallet solution deployment in China marks a milestone in Motorola's M-Commerce development"

Citibank Korea launches mobile banking service in English
"Citibank Korea Inc., or CKI, is prepping the launch of their VM mobile banking service for web-enabled mobile phones."

Mobile Banking Promo - Bank of America

Today I logged onto (m.weather.com) to check the snow report and caught this mobile banking promotion from Bank of America. I'm in awe - their timing, placement and resources are truly remarkable!

Mobile Banking Updates - Dec 14

Mobile Asia Congress 2008: Hannes van Rensburg, CEO, Fundamo


Crossover Hit: Small-Biz Goes Mobile
"Seeking new markets for mobile banking services, financial companies are turning their attention to small-business customers. Though these are similar to the services that many banks now offer consumers, early movers in the mobile business say they have added features geared specifically to the needs of commercial customers, notably the ability to authorize transfers and payments and to receive a variety of account alerts."

NFC No Answer for Mobile Payments, But Alternatives Offer Promise, According to ABI Research
"Once, NFC (Near Field Communication) was the leading contender among technologies that could enable mobile payments. But NFC has developed more slowly than anticipated, and will not offer viable large-scale mobile payment solutions for at least six years."

Wells Fargo Online Banking iPhone App
"Online banking has been popular since the late 1990s, but it might be about to change. The Wells Fargo Online Banking iPhone app might change online banking forever."

Mobile Banking with VNCTY.
"So I'm excited to say that Vancity has launched Mobile Banking to our Online Banking members. It's pretty simple SMS banking where you register your cell number within Online Banking and then when you text to the shortcode VNCTY you get your balance or last five transactions."

Banks Should Consider Mobile, But Keep it Simple
"U.S. banks are right to embrace mobile, but they’ll need to keep it simple. Access through this channel will deliver banks closer ties to a new generation of customers who are typically eschewing a stagnant screen for their smartphone to do work and get information."

Kenyans embrace moving money by text message
"To pick up money sent by her husband, who works at a remote Kenyan hospital, Rosalyn Khanyaha used to have to take an hourlong bus ride to the nearest city with a money-wiring office, or risk the cash being sent by bus."

Mobile banking set for rapid uptake - Monitise
"Mobile banking is set to achieve the fastest rate of mass-market penetration in recent history, even outpacing items such as credit cards, online banking or ATMs. This is according to recent research published by the Future Foundation, a consumer-forecasting consultancy and Monitise plc (Monitise), the mobile money specialists."

NEW! Beta Homepage from Chase

Has anyone else stumbled across the beta version of Chase's new homepage?

You can find it here: https://www.chase.com/beta/home/home

I love one of their new features! They've incorporated a "What matters to you today?" search box that dynamically changes as you enter additional characters into the field. For instance, begin typing the words "mobile banking" and you'll receive the following:

"m" = mortgage
"mob" = auto loans
"mobile b" = mobile banking

However, it's odd because home computer defaults to the site; yet, my work computer is directed to the existing site. I'm not sure if I've picked up a cookie or they are scrubbing on MAC versus PC. Check it out.

Bank of America - Mobile Banking

Apple is running an integrated advertising campaign where they highlight some of their most popular applications. For instance, I've seen a promos for...

Loopt
Shazam

But did you see the newspaper execution in Friday's Wall Street Journal?
Bank of America's mobile banking application is listed in the first row.

Mobile Banking Updates - Dec 2nd

Absa Launches New Mobile Service
"A new mobile service to bring greater control and convenience to millions of its clients, has been launched by the largest retail banking group - Absa. Over 3.5 million Absa clients using the SMS messaging service, NotifyMe, can now request instant balance enquiries and statements, as well as purchase prepaid cellular airtime, from their cellular handset."

Citizens Bank of Canada Launches Mobile Solution
"Have you ever found yourself standing in line to purchase something and wanted to check your bank balance? Now you can through text messaging from your mobile phone. Introducing Mobile Banking with BANKCB."

Can You Hear Us Now? Mobile Carriers Eye Financial Revenue
"As bankers continue to roll out services for mobile phones, wireless carriers are trying to find ways to earn more revenue from the financial activities moving through their systems."

Cell Phone Payments Make the World Easier For Terrorists, Too
"The Reuters article said little about the downside of the new technology. But terrorist financing experts in and outside government have long been worried that the mobile payment development is outpacing regulators' and law enforcement's ability to detect and prevent use by terrorists."

Alltel Wireless, mFoundry Partner for Alltel Wallet
"Alltel Wireless, will leverage the extensible mobile wallet platform from mFoundry (San Francisco) to create the Alltel Wallet, which will initially provide access to a consolidated mobile banking experience, providing customers with access to a wide variety of U.S. financial institutions."

Economy Puts Mobile Marketing on Hold
"If all went according to plan the day after Thanksgiving, JC Penney customers were roused with a wake-up call. The service was provided free as part of a Black Friday mobile marketing push. Consumers had been invited to come to JCP.com to sign up for the call, SMS shopping tips and sales alerts. This is a prime example of how this much-hyped marketing channel is helping companies like JC Penney, Subway and Coca-Cola court consumers through their cell phones and PDAs. The only problem: The economy is in free fall, leaving some marketers leery of dumping dollars into an unproven medium."

The Mobile Banking Opportunity for Small Businesses - Are Banks Listening?
"Small businesses want mobile banking services. Approximately one-third of those interviewed expressed a likelihood that they will use mobile banking."