New Mobile Devices

Rumors about Apple tablet computer ramp up
"A new tablet-style computer from Apple Inc. might be the first major launch in a new class of slate-like multimedia devices that could leapfrog the laptop. With a gleaming touch screen, it might be perfect for watching movies, reading books, listening to music or surfing the Web. It might come out next summer and it might cost $800. Or it might not. Despite a growing chorus of online tablet rumors, Apple has resolutely declined to acknowledge that any such device exists."

Google's Nexus One Pricing Details and Terms of Sale Leaked
"A day after Google confirmed its Android media event next week pricing details and the terms of sale were leaked for its highly anticipated Nexus One smartphone. izmodo broke the story with Nexus One site screenshots (Click on Gizmodo image to the left to enlarge) that show the phone on sale for two prices: a subsidized T-Mobile edition for $180 or an unsubsidized version for $530."

Mobile Banking Updates - Dec 29

Get Set to Use Mobiles for Banking
"REMEMBER when a mobile phone was just a phone? In the past few years, we've used mobiles to take photos, record videos, listen to music, surf the web and more. But from 2010, experts say we could be using our phones as pocket-sized BANKS."

Wells Fargo Hosts Mobile Monday
"On that day late in the year, mobile phone product managers sat side-by-side with the Twitter team to ask questions and respond to queries of the nearly 3,800 people who follow Wells on Twitter. The result was valuable customer research and goodwill from two-way dialogue."

Twitter co-founder takes aim at mobile payments
"Jack Dorsey revolutionized online socializing by co-founding Twitter in 2006. Now he wants to transform the way people exchange money."

Mobile Banking Updates - Dec 28

Blackberry Users Left Helpless By Multiple Outage, Mobile Banking Comes To A Halt
"With over 55% of all mobile banking coming from smart phones (June 2009 – Yankee Group Research) and more consumers switching to Internet only banks (ING Direct, Ally). Consumers are leveraging mobile banking beyond ATM locator and balance transfer; today users are expediting bill payments and domestic remittances. Mobile devices such as the Blackberry and iPhone are leading the way for mobile banking."

Musings about Mobile Payments 2009 - Glenbrook Research Brief
"For the last several months, Glenbrook’s Carol Coye Benson has been interviewing a number of companies involved in mobile payments in the U.S. and Canada. You’ll find all of the analyses she’s written following those interviews on PaymentsViews.com. The companies included are Billing Revolution, Blaze Mobile, Bling Nation, Boku, CashEdge, First Data Corp., mFoundry, mPayy, Obopay, Payfone, Zong, and Zoompass."

AliPay Gears Up in Mobile Payment Field
"The daily transaction value of Alipay.com Co., Ltd. (AliPay) lately surpassed CNY 1.2 billion. After setting foot in the online payment field, AliPay President Polo Shao is leading his company heading toward the mobile payment market, seizing the highland of mobile Internet."

Blaze Mobile adds Tetherball’s loyalty system to the Blaze Wallet
"Blaze Mobile and Tetherball are to provide US consumers with the ability to both redeem mobile rewards and coupons and make purchases using their mobile phone.

Blaze Wallet users already have the option of using a Blaze Mobile Prepaid MasterCard PayPass sticker to make payments using their phone at the point-of-sale. Now they will be able to use the same sticker to both make payments and receive/redeem offers from retailers such as Dairy Queen that are already using Tetherball's contactless mobile marketing solution."

Wendy’s Debuts Mobile Coupons
"Wendy's International is taking its first steps into the world of mobile coupons with help from partner Options Media Group Holdings, a services provider for on-demand e-mail marketing, Brandweek reported.

Through the new campaign, customers in the Northeast can opt in for mobile coupons and ads, which arrive via text message, in return for discounts at select Wendy's locations."

Mobile Banking Updates - Dec 21

USAA Thwarts Mobile App Fraud
"USAA recently stopped a software developer from selling an imposter USAA application designed for use with Google's new Android phone. The developer had posted it for sale within Google's Android Marketplace, but USAA took immediate action and had the application removed."

GETTING PERSONAL CANADA: Carry Your Bank In Your Pocket
"While mobile banking took some time to become established in the Canadian market, mobile-payment services are expanding faster than waistlines at Thanksgiving.

Mobile payments - using your cell phone to pay bills, purchase merchandise, check your bank balance, and transfer money through an embedded chip - is growing five to 10 times as quickly as Internet usage spread throughout Canada in the late 1990s, according to Richard Crone, a California-based payment-services consultant."

First Two Banks Go Live with CashEdge's POPmoney(TM) Person-to-Person Payments Service
"CashEdge, Inc. (www.cashedge.com), the leading provider of Intelligent Money Movement(TM) services, announced today that two top U.S. banks are the first in the nation to launch POPmoney(TM), its groundbreaking new email and mobile person-to-person (P2P) payments service offered through banks. Five additional financial institutions have signed on to launch the service in early 2010, demonstrating strong momentum for the innovative new P2P payments service."

Mobile Banking Updates - Dec 18

M-Commerce World Summit 2010
"M-Commerce World Summit 2010 will draw together highly-regarded speakers representing the mobile network operators, banks, money transfer providers, mobile transfer networks, mWallets and ‘interoperability hubs’, handset manufacturers, technology and equipment providers will be invited to share their latest efforts in launching mobile financial services and the key challenges facing them at M-Commerce World Summit 2010."

eCommLink, CPNI Partner for Mobile Prepaid Debit Solutions
"CPNI and eCommLink have announced they will be partnering to offer CPNI’s mobile solutions to the prepaid debit card industry. The companies say they will jointly market to eCommLink’s existing program manager and financial institution customers - effectively 'mobilizing card programs already in place.'"

Free Mobile Payments with the mPayy Android App
"mPayy's Android app uses the API services available from the mPayy application in order to bring a complete mPayy experience directly to the deck on your Android phone. The mPayy Android application enables users to make and receive payments, track activity, and withdraw funds from their mPayy accounts to linked bank accounts. Small business account holders are also able to issue refunds for any sale through the application, even if it occurred on their website."

Monitise on a roll with new partnerships
"Monitise, the provider of mobile banking and payments technology solutions, says it is on track for full-year revenue expectations on the back of record consumer growth. The group has also announced two new partnerships and 15.8m of additional funding, partly aimed at extending mobile banking into the retail sector. Revenue is expected to exceed 1.7m for the half-year to 31 December, an increase of at least 55% on last year's 1.1m."

Pennsylvania State Employees Credit Union Selects Firethorn for Mobile Banking Services
"Firethorn Holdings, LLC, a Qualcomm company, today announced that Pennsylvania State Employees Credit Union (PSECU) has selected Firethorn's mobile banking services for its more than 365,000 members. PSECU has more than $3 billion in credit union assets.

'PSECU maintains a branchless business model so expanding into the mobile environment gives PSECU a new avenue to provide innovative and convenient services,' said Dave Vigil, senior vice president of Firethorn. 'We look forward to helping PSECU grow and evolve its mobile strategy to better serve its members.'"

ClairMail Receives 2009 Market Penetration Leadership Award in Mobile Banking From Frost & Sullivan
"ClairMail, Inc., the leader in mobile banking and payment solutions, today announced that it was awarded the 2009 North American Market Penetration Leadership Award in Mobile Banking from global research organization, Frost & Sullivan. Recently named by Bank Technology News as a Leading Mobile Banking Innovator for 2009, ClairMail continues to distinguish itself as a leader in the financial services industry with this prestigious honor."

Bankinter is first Spanish bank to develop application using augmented reality

Bankinter is first Spanish bank to develop application using augmented reality

- Augmented reality adds contextual, real-time information to physical information captured by mobile devices.
- Bankinter currently has two layers of information: one with office and ATM information, and the other with available real estate properties.

15/12/2009. Bankinter is the first financial institution in Spain to develop an augmented reality application for mobile handsets.

Augmented reality allows a series of mobile devices to add contextual information to the physical image captured by handsets in real time. In order to access Bankinter applications, customers must download Layar, a free Augmented Reality browser available for Android and iPhone 3G devices which shows additional information on top of the images captured by handsets’ camaras. In this sense, Bankinter, thanks to Spanish developer Signo, Ingeneria del territorio, is the first Spanish financial institution to have built a layer within Layar.

The Layar application, downloadable free of charge from the Android market and AppStore, utilizes camara, GPS, compass and movement sensors of these specific handsets to capture real images and locate users’ specific location and orientation with regards to direction they are facing. The handset’s camera captures a users’ surrounding and reproduces the image on the screen, as the browser superimposes value-added information on the screen, to show both image and information.

With this application, any person can download active Bankinter layers within Layar and use the information available with the browser to locate offices and ATM’s. In this sense, depending on a customer’s situation and orientation (detected by the handset), a user is offered information about the nearest offices and ATM’s including directions on how to get there, characteristics such as handicap access and office hours, and distance to nearest offices or ATMs.

Bankinter also has a second layer with residential and commercial properties currently for sale. With this, users can focus their cameras on a specific building where there is a property for sale and the Augmented reality browser will superimpose information within the image which includes a wide variety of information including: price, size, pictures, property characteristics, etc.

This application, the first in Spain offered by a financial institution, is a step forward in developing value-added services through mobile handsets and mobile technology which the bank has been implementing for customers, in addition to traditional m-banking and m-brokerage services, or 3G Internet service offered by Bankinter since the beginning of this year.

Mobile Banking Updates - Dec 15

SK Telecom To Buy 49% Of Hana Card Stake For KRW400B
"SK Telecom Co. (SKM), South Korea's largest mobile phone carrier by revenue, said Monday that its board has approved a plan to buy a 49% stake in a credit card unit of Hana Financial Group (086790.SE), potentially giving the two companies a leg up in the highly saturated credit card and telecommunications markets"

Luup launches mobile banking solution
"Luup International, a leading provider of mobile payments solutions, has launched its mobile salary disbursement solution in the Mena region. The solution is specifically tailored to assist corporate businesses affected by the regulation meet their ever growing needs when disbursing salaries to their unbanked workforce. By deploying the mobile payments platform employers can provide unbanked employees with an account accessed through their mobile phone, called a ‘stored value account’, into which salaries can be paid electronically."

mFoundry Captures Top Spot in Bank Technology News Ranking of the Top 10 Companies & Technologies of 2009
"Mobile financial services leader mFoundry announced today that it was selected by Bank Technology News (BTN) as the leading company in its 8th Annual Innovator Awards ranking. Each year the awards, which this year were announced in December, rank the companies and individuals that the publication deems most innovative. This marks the third consecutive year that mFoundry has been named to BTN’s prestigious list."

First branchless bank starts pilot testing
"The BPI Globe Savings Bank (BanKo) is presently pilot testing retail microlending using mobile money technology (MMT) in an undisclosed area. BanKo is a thrift bank that will specialize in microfinance and branchless banking using mobile teachnology. It is co-owned by the Bank of the Philippines Islands (BPI), Globe Telecommunications Inc. and Ayala Corp."

Mobile Banking Updates - Dec 13

hyperWALLET Adds 10th Language to Global Payments Platform
"hyperWALLET Systems, a leading provider of global payment solutions, today announced the addition of Japanese and Malay language support to its global payments platform, web and mobile payment solutions. These two new languages bring the supported total to ten, providing additional linguistic options for organizations that wish to offer localized payment services to customers across international markets."

Key Mobile Banking
"Key's Mobile Banking is a fast, convenient, and secure way to access your KeyBank accounts anytime, anywhere, using your iPhone® or BlackBerry® smartphone."

Carol Realini’s thoughts on the Obopay iPhone app launch
"1) Why did Obopay choose to launch an iPhone application?
Obopay loves smart phones – since they are such great platforms to deliver a rich, colorful experience. We have been a long time supporter of BlackBerry, and now with this release we add a state-of-the-art iPhone application. "

Mobile Banking Updates - Dec 9

Exponential growth in US mobile banking activities reported
"The report refers to the comparison between two consumer research assignments conducted in May 2008 and June 2009. With two report one year apart, it is possible to draw some conclusions on changes in behaviour. The report concludes (amongst others) "exponential growth seen among the younger generations" in using their mobile for banking and also payments."

Obopay Turns Mobile Phones into Banks
"Computer scientist Carol Realini was planning to take early retirement after Chordiant Software (CHRD), a customer-relationship management software company she chaired, went public in 2000. Relishing her newfound freedom, Realini went on a social-action mission to Africa. The experience was eye opening, to say the least: In the Democratic Republic of Congo (formerly Zaire), she saw people haul sacks of devalued currency to local vendors to buy scratch cards that would provide a few minutes' calling time on their mobile phones."

World Economic Forum honors Obopay as 2010 Technology Pioneer!
"Obopay is one of 26 companies from around the world to be honored with this prestigious award. In addition, Obopay is one of only 11 companies in the Information Technologies, Telecommunications and New Media category and is the only financial services provider receiving the award."



USAA Cited for Pioneering Mobile Banking Applications
"American Banker, the leading information resource serving the banking and financial services community, has named USAA CEO Joe Robles as its 2009 "Innovator of the Year." The announcement was made today in the publication's 2009 Banker of the Year Awards issue. While many technological innovations come from India, China or Silicon Valley, this year's top banking innovation was created in a lab in San Antonio."

ClairMail Partners With Mitek Systems to Deliver Integrated Mobile Deposit Capability for Bank Customers
"ClairMail, Inc., the leader in mobile banking and payment solutions, today announced a strategic partnership with Mitek Systems, Inc. (OTCBB: MITK), an innovator of image analytics and mobile document capture applications. ClairMail will integrate Mitek's Mobile Deposit® application into its own mobile banking and payments platform, which powers the mobile banking services of many of the nation's top financial institutions. With Mobile Deposit incorporated into the ClairMail platform, financial institutions will have the ability to provide consumers faster availability to funds and an extra level of convenience."

Citi's Mobile Picture to Get Sharper
"After years of evaluating a wide range of mobile banking applications separately, Citigroup Inc. is starting to link the pieces together. Citi has teamed up with at least five technology partners to figure out what banking services people really want to access with their mobile phones, and how to make it happen. Marylou Dowd, a senior vice president with Citi Mobile, said the massive company's separate divisions have been operating on their own, forging their own vendor relationships to develop different mobile tools. But in recent months Citi has tried to consolidate its efforts, culminating this summer in a reorganization of its Internet and mobile groups."

Shopping by Mobile Phone Picks Up on Black Friday
"This year may go down as the period that shopping by mobile phone during the holidays came into its own. Black Friday saw greater use of mobile phones by consumers to zero in on and make purchases, industry data reviewed by Dow Jones show. From a very small base last year, mobile online payments through PayPal surged nearly 650%."

Mobile Congress 2009 Recap

I'd like to take a minute to thank Simon Conyers and Arena International for hosting Mobile Financial Services Congress 2009. The speakers were top-notch, the agenda was focused, and the location (Biltmore Hotel - Miami) was first class.

Everyone I met raved about the open dialogue with the speakers and the relationships they forged during the week. It was unique in that attendance exceeded expectations; yet, the venue was intimate enough to provide ample opportunities for meeting and speaking with other mobile professionals.

Here are a just a few nuggets of information that caught my attention:

* Robert Mark (ANZ) - 40% of ANZ's mobile banking users are "off-line" clients and mobile banking users are half as likely to churn

* Jeff Dennes (USAA) - USAA is witnessing over 1 million mobile banking contacts every week

* Armin Ajami (Wells Fargo) - Wells Fargo allows their clients to enroll for text banking through their mobile banking application. A simple...yet brilliant piece of functionality I have not seen to date.

* Juli Anne Callis (NIH FCU) - Juli Anne shared a great marketing campaign designed around the idea that customers should use mobile banking because they're "Too busy to waste time, and too smart to waste money."

* Doug Peacock (M&I) - Shared that 25% of their mobile clients use the product more than 10 times per month

* Andres Fontao (Bankiter) - 73% of the banks clients actively use SMS banking and 38% use mobile banking

* Ginger Schmeltzer (SunTrust) - Mobile banking clients are 27% more profitable than regular online bankers

And these notes are just a fraction of the 21 pages I brought home to absorb. If you weren't able to attend this year...be sure to pencil this one in for 2010.

Consumers Ready to use Mobile Phone as Wallet

I'm in the airport traveling to the Mobile Financial Services Congress and just learned about this new report from Firethorn. Visit this link to learn more about the research: http://www.firethornmobile.com/research

Mobile Banking Updates - Nov 29

Qualcomm’s Mobile Payment Strategy: Fix the “Costanza Wallet”
"While Qualcomm for many is synonymous with wireless, the company acquired Atlanta-based mobile banking startup Firethorn two years ago with an eye to also becoming a major player in the mobile payment space. More importantly, it acquired Firethorn founder Tripp Rackley — the man it hopes will make Qualcomm the Western Union of mobile."

MasterCard Canada Brings PayPass to BlackBerry Smartphones
"In partnership with BMO Bank of Montreal and Research In Motion, MasterCard Canada has announced that it is bringing mobile payments to BlackBerry smartphones through its MasterCard PayPass 'tap and go' contactless payment technology. MasterCard is beginning a four-month trial in which participants will use PayPass Mobile Tag-equipped BlackBerry smartphones to make purchases at any of the 8,500 merchant locations in Canada that accept MasterCard PayPass. As announced, the trial is contactless sticker-based and doesn't appear to include any application integration with the Blackberry handsets."

Banks Cooperate for Smart Phone Banking
"Local banks are working together to develop a standard system for smart phone-based mobile banking services prior to the upcoming debut here of Apple's iPhone, which continues to lead the global smart phone market.

According to industry sources, the Mobile Financial Council (MFC) plans to introduce a standard system for mobile banking services for smart phones late this month. The MFC is a joint council formed by 17 banks and other financial services providers, and the Korea Financial Telecommunications and Clearings Institute (KFTC)."

Money transfer to be No. 1 phone app in 2012
"We’ve talked before about how mobile banking is not only becoming more popular, but easier than ever. More and more people are putting aside their fears about transferring personal financial information via mobile networks in favor of convenience. Banks are responding by creating mobile applications that do everything from allowing members to check balances, transfer money between accounts, and even deposit checks. They’re also striving to make mobile banking as secure as possible. These advances, and probably to a larger degree, the fact that consumers use their cell phones nearly as much as their computers, have led information technology research company Gartner to predict that money transfer will be the most used type of phone application in 2012."

Digital Insight, MMV Partner on Mobile Banking
"Digital Insight has named Mobile Money Ventures, a joint technology launch by Citi and SK Telecom, as the online banker’s preferred mobile financial services provider."

What Questions to ask Mobile Congress Panelists?

Next week I'm moderating two panel discussions at Mobile Financial Services Congress, and I'd like your input. What questions would you like answered? Here are the topics and panelists.

1) Critical trends in technology that will determine the success of your mobile banking offering

Exploring the different channels and platforms:
* Which are most suitable for the banking product?
* Which do you have to incorporate to guarantee a successful product?
* How can you optimize user experience across multiple device types and operating systems?
* Assessing the impact of smart phones and the ‘application store’
* Which device manufacturers are doing the most to enable mobile banking and what more can be done to support this emerging technology?
* How can the banking industry encourage device manufacturers to do more to support mbanking?

Armin Ajami, VP - Sr. Product Manager Mobile Banking, Wells Fargo
Jeff Dennes, Executive Director, USAA
Richard Crone, Founder and CEO, Crone Consulting LLC
Toshihiro Uchida, Vice President, Fidelity Investments

2) Developing the platform in-house vs. buying a vendor solution

Evaluating the vendor market: Many banks just entering the mobile banking space will look to a vendor to speed their entrance to the market, whilst many of those that built platforms internally over the last few years are now looking to develop the next generation of mobile financial services, and may turn to vendors for these. This essential panel will pick apart the vendor market to make sense of the diverse range of solutions and help you determine which is best for your business.

* Evaluating the pros and cons of building in house vs. choosing a vendor solution to launch or upgrade your mobile platform
* Establishing the critical criteria for selecting a best-of-breed vendor solution
* Making sense of a crowded vendor market - finding the right vendor partner

Ginger Schmeltzer, Senior Vice President, Sun Trust Bank
Robert Rankin, Senior Vice President, Fifth Third Bank
Presented by Fiserv and M-Com

Reminder - Mobile Financial Services Congress

This is just a quick reminder to register for the Mobile Financial Services Congress. The conference opens next Tuesday (12/3) at the beautiful Biltmore Hotel in Miami, FL. I personally can't wait...the current weather conditions in Indianapolis are 46 degrees and rainy.

Click here - To Learn More and Register

Disclosure: I am the Chairman of the conference and the conference producers are covering a portion of my travel related expenses.

Scotiabank Partners With M-Com to Bring Mobile Banking To Canadians

"Scotiabank today announced a new partnership with M-Com, an international mobile banking and payments solution provider, that will bring mobile banking to Scotiabank customers in the spring of 2010.

'With more than 22 million cell phone subscribers in Canada, wireless phones are among the fastest growing consumer products in history*,' said Mike Henry, Senior Vice-President, Sales & Service, Scotiabank. 'Canadians rely on the convenience of mobile devices to help them manage their busy lifestyles, and having the ability to do their banking from their mobile devices will simplify their lives that much more.

'The launch of mobile banking for Scotiabank customers next spring further demonstrates our commitment to offering innovative, convenient and secure banking solutions for our customers,' continued Mr. Henry." >> Continue Reading

Don't hack your iPhone - New worm attacks iPhone and Mobile Banking

"The panic that will inevitably spread from this story is unjustified. First, if you are a regular iPhone customer you are safe, even if you are in the Netherlands. This is because, like the Ikee hack before it, the new worm will only work on a jailbroken, or hacked iPhone. Further, you will have to explicitly install SSH remote access, and then you will have to leave the root password at its default, which is “alpine”.

If that means nothing to you, you don’t have any reason to worry. If that does mean something to you, shame on you! You should go change that password right now." >> Continue Reading

Mobile Banking Updates - Nov 22

Mobile Money Ventures and CPNI Partner to Provide Financial Institutions Innovative Mobile Payments
"Mobile Money Ventures (MMV) and CPNI Inc. (CPNI) today announced they will be working together to offer financial institutions a comprehensive solution that integrates CPNI's mobile commerce solutions into MMV's mobile financial services platform. The multifaceted relationship will combine CPNI's PATsend(TM) remote mobile payment technology into MMV's next generation mobile platform, with the opportunity to integrate PATbuy(TM) mobile purchases in the next phase.

A leading global solutions provider, MMV's current offering enables consumers to handle all of their financial activities-banking, bill payments, stock trades, tracking and budgeting-on any mobile handset or wireless carrier. By incorporating PATsend, and in the subsequent stage PATbuy, into its existing platform, MMV will be able to provide turnkey solutions for financial institutions and increase the speed at which their customers can quickly begin making convenient remote mobile purchases and payments down the road."

Frost Unwraps Mobile Banking in Time for the Holidays
"Customers of Frost Bank will now be able to bank by mobile device through Frost Mobile, a new service unveiled just in time for the holidays. 'The best gift we can give our customers for the holidays is the convenience, ease and peace of mind of mobile banking,' said Bobby Berman, executive vice president. 'This will enable our customers to manage their finances anytime, anywhere, safely and securely.'"

Judge rejects AT&T's bid to pull Verizon ads
"A federal judge on Wednesday denied a request by AT&T to force competitor Verizon Wireless to pull its "There's a Map for That" commercials. But the judge scheduled a Dec. 16 hearing to give the AT&T attorneys another chance to make their case. AT&T filed the lawsuit in federal court in Atlanta earlier this month and asked for a temporary restraining order and a permanent injunction to stop the ads. It contends they are misleading and amount to deceptive trade practices."

MasterCard Connecting the Mobile Banking Dots
"In MasterCard Inc.'s vision of the future, mobile phones have become versatile financial tools that offer a broad range of payments capabilities. This week, the Purchase, N.Y., company took several steps that, together, demonstrate exactly how it plans to realize that vision. MasterCard announced initiatives that included payments projects in Norway and Brazil and plans to expand its existing person-to-person transfer service globally. Taken separately, they might look like incremental moves in discrete markets, but considered as a whole, they show how the company is starting to connect the dots required to make mobile financial services both widely available and easy to use."

Visa Mobile Banking App for Android Now Available For U.S. Bank Customers
"US Bank and Visa announced yesterday that the new Visa Mobile app for phones carrying the Google Android mobile operating system. Visa Mobile is the first mobile banking app to combine alerts, offers and a locator into one convenient app."

Make mobile banking pay its way - Clairmail Whitepaper

Mobile Deposit from B of A

I'm in Lafayette, IN this weekend and noticed that Purdue Employees Federal Credit Union (PEFCU) is running 4-color newspaper to promote mobile banking.

http://www.purdueefcu.com/

Mobile Banking Updates - Nov 17

At Checkout, More Ways to Avoid Cash or Plastic
"For almost as long as Americans have been hearing about jetpacks and picturephones, they have been hearing that money — bills, coins and plastic cards — might cease to exist, or at least become a novelty.

Instead of leather wallets, consumers could, sooner than they think, carry virtual wallets, with their credit card and bank information stored on remote computers that are accessible everywhere and anytime. They could use them whenever they want to buy something, whether on the Web, on cellphones or at cash registers."

Leading Cambodian Bank selects M-Com Technology for Mobile Banking and Payments
"International mobile banking solution provider, M-Com, announced today that ACLEDA Bank Plc has selected its flagship product – BankAnywhere – to power its mobile banking and payment services.

'We are delighted to have been selected by ACLEDA to help them execute their self-service strategy' comments M-Com CEO and Founder, Adam Clark. 'Mobile phones have transformed the lives of many Cambodians in a positive way, and we will work with ACLEDA to bring them compelling mobile financial services that deliver convenience, control and more financial freedom to them.'”

PSCU Financial Services Unveils White Papers on Maximizing Mobile Banking Services, Meeting Small Business Owners' Needs
"PSCU Financial Services, the nation's largest credit union service organization, is posting an ongoing series of free educational white papers on www.pscufs.com. The white papers, designed to help credit unions attract new members and earn their loyalty, include topics such as how to optimize and market mobile banking services, and how to build a database that will identify small business owners and their financial needs. These papers and others are available online at: http://www.pscufs.com/press_room/white_papers_research.htm"

NORTHWEST SAVINGS INTRODUCES BUSINESS MOBILE BANKING
"Northwest Savings Bank has introduced Business Mobile Banking, a new service that allows business customers to do their banking whenever they wish from any place that their cellphone or mobile communications device can operate.
'Business Mobile Banking offers our business customers a new way to save time, and time is money,' said Joseph Schwind, Assistant Vice President, Electronic Payment / Product Services, of Northwest Savings Bank, who made the announcement. 'Our customers can now bank literally from wherever they are, 24/7. It's the ultimate in banking convenience. The world is now their office.'"

MasterCard Launches its Authentication Program for Mobile Devices
"MasterCard has today launched an innovative solution to harness the mobile phone as a form factor for its Chip Authentication Program. The initiative focuses on enabling consumers to authenticate their banking and online transactions through their own mobile phone with solutions from three leading industry vendors.

MasterCard’s CAP program (Chip Authentication Program) focuses on solutions that allow cardholders to authenticatehemselves using their existing EMV banking card and a personal card reader."

Mobile Banking Updates - Nov 15

Buddy, Can You E-Mail Me 100 Bucks?
"What if you could send money to that friend who loaned you $20 last week by using your mobile phone rather than having to go through the trouble of trekking to the ATM or mailing a check? All you'd need would be your buddy's e-mail address or cell number—and presto. Folks in Japan and Europe can already do that. Soon Americans will, too. Studies show that U.S. consumers, particularly the younger set, have embraced the convenience of online shopping and e-banking and are now ready to move to the next frontier: person-to-person mobile payments. A recent poll by Mercatus, a financial consulting firm, showed that the proportion of people ages 26 to 34 who had used a cell phone to buy goods or pay for a product or service had doubled, to 14%, in the past year."

ViVOtech Partners with Citi in Largest Global NFC Pilot
"ViVOtech has announced that its NFC mobile payment wallet, Over-the-Air (OTA) provisioning, smart posters, coupon delivery and redemption technologies have been successfully deployed in Citi Tap and Pay, a pilot service that brings to India next-generation contactless credit card payments based on this emerging technology. Launched in July in the city of Bengaluru in India, Citi Tap and Pay is one of the world's largest and most comprehensive NFC mobile payment pilots."

Misys Changes the e-Banking Game With ClairMail Mobile Banking Partnership
"Misys plc, the global application software and services company, today announces its new partnership with market-leading mobile banking and payments solution provider, ClairMail, significantly enhancing and extending its mobile banking solution, Misys Mobile. Through a close integration of both companies' solutions, and together with its online portal platform, Misys can now offer its customers a complete range of e-banking solutions including the latest mobile banking technologies appropriate for any customer segment. With the addition of ClairMail, Misys Mobile can now deliver SMS-based services, web-based mobile banking, and its unique SmartClient downloadable applications, all in its banking customers' own branding."

Banks hold key to mobile financial services in developed markets – Fundamo
"Banks, not mobile operators, are pivotal to the rollout and mainstream uptake of mobile financial services in developed markets like the U.K., according to mobile banking platform provider Fundamo. 'There is no technical reason why consumers in developed markets can't get mobile financial services. It is up to the banks,' said Aletha Ling, chief business development officer and executive director at Fundamo. 'It will only take one bank to do it, and do it well, for it to be successful,' she commented to Total Telecom in London on Tuesday."

Nokia Money to go commercial in Q1 2010
"Nokia's mobile banking and payment service is expected to be commercially available in its first market in Q1 2010, although the Finnish handset manufacturer is unable to divulge any details about the location as yet. According to Teppo Paavola, vice president, general manager of mobile financial services, Nokia cannot talk about the service until it has fully confirmed details about which bank it will partner with in any market: the service requires a banking licence before it can be launched."

RBS launches Mobile Banking App
"WORRIED that beleaguered RBS bankers might lose your money and go cap in hand looking for another taxpayer funded government bail out? Well now there’s an App for that. Part state-owned RBS has now launched an iPhone App to allow customers to keep an eye on their finances – just months after announcing the biggest banking loss in British history."

NatWest launches m-banking iPhone app
"he app allows customers to check their account balances, recent transactions and manage their money on the move using iPhone. The new app is one of a number of helpful initiatives the Bank is developing to bring customers closer to their finances on a 24/7 basis. Today's launch re-enforces NatWest's commitment to offer our customers more advanced mobile banking services. Recent research showed that consumers are interested in more sophisticated mobile banking facilities, with a quarter being interested in money transfers between bank accounts, a further quarter being interested in receiving fraud alerts and 24% said they would like to pay in cheques without visiting a branch."

A Battle for Deposits Helps Fuel Bank Interest in P2P Payments
"Mercantile Bank of Michigan has an answer for observers who want to know why financial institutions are starting to show an interest in person-to-person payments. It comes down to competition for deposits, says John Schulte, senior vice president and chief information officer at the bank, which will introduce a commercial service in the first quarter that will let customers with smart phones transfer funds to other individuals."

Kony Mobile Finance Now Available for Banks and Credit Unions

Wells Fargo Brings Commercial Banking Services Wherever You Are with New iPhone™ Application

"Wells Fargo & Company (NYSE:WFC) today announced it has released the CEO MobileSM iPhone™ App. The free time-saving tool alerts corporate and business customers to pending transactions and connects them to online commercial banking services.

The CEO Mobile iPhone app delivers mobile access to Commercial Electronic Office (CEO®) portal services. Users can monitor balances in corporate bank accounts, approve outgoing payments, manage exception items, view intraday account activity, and reset user passwords. In addition, the CEO Mobile app alerts users, even before they sign on, to wires, image positive pay exceptions or ACH Fraud Filter reports that await decisions.

'We’re answering the call of our CEO Mobile customers who asked for an iPhone app,' said Amy L. Johnson, channel manager of the CEO Mobile service. 'Wells Fargo has kept its focus on integration with Wachovia, yet at the same time we’ve continued to invest in technology, products, and people.'” >> Continue Reading

Mobile Banking Updates - Nov 7

A view on the trigger behaviour for mobile payments
"Dave postulate that widespread adoption of payment systems are triggered by change in behaviour of the population. He says (for instance) that the big move to card-based payments from check-payments was triggered by people that started travelling more frequently. Check-payments from foreigners were frowned on, but quickly got replaced by a plastic card."

Android Army Pumped for All-Out Attack on iPhone
"Soon, you’ll need more than two hands to count the number of Android phones on the market. At this rate, it seems inevitable that the number of phones running Google’s open source operating system will eventually outnumber the number of iPhones, which run Apple’s proprietary (and closed) operating system. It’s a situation that has many observers thinking back to the 1980s, when IBM introduced its PC and eclipsed Apple in market share by betting on open platforms. In the end, Apple was left with a respectable business, but a single-digit morsel of the PC market share."

Touchscreen Mobile Phone Adoption Grows at Blistering Pace in U.S. During Past Year
"comScore, Inc. (NASDAQ: SCOR), a leader in measuring the digital world, today released a study of touchscreen mobile phone adoption in the U.S., which showed a significant 159-percent growth rate during the past year to 23.8 million users in August 2009. The growth in touchscreen device adoption substantially outpaced the already strong 63-percent growth in U.S. adoption of smartphones."

How Banks Are Looking to Become Serious Players in P2P Payments
"Electronic person-to-person payments have been around this entire decade, but they’re still largely the domain of specialists such as PayPal Inc. and a host of tech companies. But leading bank processors are getting into the P2P act, and if they’re successful they could spur greater usage from the consumer mainstream and confirm banks’ Web sites as go-to places for new payment services. Leading bank processor Fiserv Inc. this week unveiled its personal-payments service that will become available to the 3,100-plus financial institutions in Fiserv’s online bill-payment network in the first half of 2010. The service leverages the updated CheckFree RXP bill-pay platform that Fiserv acquired two years ago when the company bought bill-pay leader CheckFree Corp."

BAI Mobile Banking Announcements - Nov5

Vasco Uses IPhone, IPod Touch for Authenticating Users
"Vasco Data Security said Thursday it is bringing its Digipass product, which is used for two-factor authentication, to the iPhone and iPod Touch.

The company has developed a version of the application for the Apple devices that can be downloaded for free from the App Store. Vasco's server products are also needed for the system to work.

Digipass for Mobile can be used to authenticate users and sign transactions or documents in areas such as mobile banking, e-banking, e-commerce and enterprise security, according to Vasco. There is also an API (application programming interface) for integrating the system with a company's own applications."

Nation's Largest Credit Union Service Organization Adds New iPhone/iPod Touch Applications to Mobile Banking Platform
"Easy on-demand access to financial information is the driver behind the explosive growth of mobile banking. PSCU Financial Services, the nation's largest credit union service organization, has made its mobile banking platform even more cutting edge with the launch of new iPhone(TM) and iPod® touch applications, which are now
available.

This latest capability will help credit unions attract Gen Y and other member segments who are avid iPhone/iPod users. It also builds brand recognition through credit union logo visibility on the member's mobile device and customized iPhone application in the iTunes store."

Despite a Fast Start in Mobile Banking, BofA’s Job Isn’t Done

"Bank of America Corp. gave some insights into its fast-growing mobile-banking service, but the bank also acknowledged that it must convince skeptical customers that the service is valuable and secure.

Charlotte, N.C.-based BofA started a controlled rollout of mobile banking in early 2007 and launched the service nationwide in the second quarter of that year. The service had 1 million users a year later. By 2009’s third quarter, BofA had 3.5 million active users, Doug Brown, senior vice president of E-Commerce Channels, ATM and Customer Service, told an audience Wednesday at the Bank Administration Institute’s Retail Delivery conference in Boston. BofA claims to have a 35% share of the mobile-banking market, more than any other bank.

The bank promotes mobile banking through a variety of channels, including online and in branches. Some 85% of BofA’s mobile-banking customers use a smart phone such as Apple Inc.’s iPhone or the BlackBerry from Research in Motion Ltd. Hot-selling smart phones have larger screens and more capabilities than regular cell phones to handle complex services such as mobile banking. More than 80% of BofA’s mobile-banking users are between the ages of 18 and 44." >> Continue Reading

BAI Mobile Banking Announcements - Nov 4

ClairMail Signs Development and Deployment Agreement to Integrate Visa Mobile Services Into Its Mobile Banking Platform
"ClairMail, Inc., a leader in mobile banking and payment solutions, today announced that it has signed a development and deployment agreement with Visa Inc. (NYSE: V), the world's largest retail electronic payments network, that allows ClairMail to integrate Visa mobile services into the mobile banking and payments infrastructure that ClairMail provides to leading financial institutions.

ClairMail bank customers who are also Visa clients can take immediate advantage of Visa's mobile services by adding them to an existing mobile banking deployment and creating a more comprehensive mobile banking offering. Visa mobile services include applications that support mobile payments, tailored merchant offers, and near-real time transaction alerts and notifications."

Mobile Money Ventures to Help Digital Insight Deliver Next Generation Mobile Solutions
"Mobile Money Ventures (MMV), a leading global solutions provider of the next
generation of mobile financial services, announced today it is teaming up with
Digital Insight, the financial institutions division of Intuit Inc., to make
next generation mobile solutions more broadly available to financial
institutions. The agreement was announced today at the BAI Retail Delivery
conference in Boston.

'In today`s strained economy, Americans are looking to their bank or credit
union for help managing their finances,' said Albert Ko, senior vice president
of online financial management at Digital Insight. 'Working with MMV expands our
mobile capabilities to help financial institutions put more information in the
hands of end users, no matter where they are.'"

FIS Integrates PayPal for Global Person-to-Person Payments
"FIS has announced that it is integrating PayPal's person-to-person (P2P) payment system into the FIS online bill payment application for financial institutions. FIS says that 'by integrating paperless P2P functionality into its online bill payment application, FIS empowers banks and credit unions to simultaneously solve for a real consumer need and drive increased transaction activity at the online channel.

'Adding electronic person-to-person payments to our bill pay solution is the intersection of financial institutions` cost cutting objectives and consumers` desire to centralize their paperless transactions with their trusted bank or credit union,' said Frank D`Angelo, executive vice president, FIS Payment Solutions Group."

Fiserv Plans New Person-to-Person Payment Service
"Fiserv has announced plans for a new personal payments service that it says 'will enable individuals to quickly and easily send or receive money person-to-person using their existing online banking relationship. The service will be made available to the more than 3,100 financial institutions in the Fiserv online payment network, linking users with their friends, family, neighbors and colleagues.'

'Consumers are showing an increasing preference for managing their finances online, and it is natural for them to turn to their trusted financial institution for any payment service, whether it is a bill payment or a personal payment,' said Erich Litch, senior vice president and general manager, Consumer Services, Fiserv. 'The personal payments service from Fiserv enables banks and credit unions to deliver an innovative online financial management tool, providing users with the convenient capability to pay anyone and deepening their relationship with the institution.'"

CU*Answers and Firethorn to Deliver Mobile Banking Services
"Firethorn Holdings, LLC, a Qualcomm company (Nasdaq: QCOM), and CU*Answers today announced that the credit union service organization has selected Firethorn's Mobile Banking application and SMS service for its more than 165 credit unions. CU*Answers represents more than 1.5 million members with more than $10 billion in credit union assets."

BAI Mobile Banking Announcements - Nov 3

S1 Teams With PayPal to Deliver Fast, Convenient Mobile Personal Payments Solution for Banks
"S1 Corporation (Nasdaq: SONE), a leading global provider of financial services and payments software solutions, today announced an agreement with PayPal to deliver a new personal payments service that allows consumers and businesses to make easy, fast and secure payments from their bank accounts to PayPal users around the world using their mobile phones. Mercantile Bank of Michigan, a customer of S1, is the first financial institution to sign up for the new offering and expects to go live with the mobile personal payments service early next year."

CashEdge and Firethorn to Launch Integrated Mobile Person-to-Person Payments Solution for Financial Institutions
"CashEdge, Inc. (www.cashedge.com), the leading provider of Intelligent Money Movement(TM) services, and mobile commerce enabler Firethorn Holdings, LLC, a Qualcomm company (Nasdaq: QCOM), announced today that the companies have entered into a strategic relationship to bring to market an integrated mobile person-to-person (P2P) payments solution integrating CashEdge's POPmoney P2P payments service and Firethorn's Mobile Wallet solution."

Two Top Credit Unions Select POPmoney(TM)
"CashEdge, Inc.(www.cashedge.com), the leading provider of Intelligent Money Movement(TM)services, announced today that two leading credit unions, BECU and Patelco,are among the numerous leading financial institutions that will add POPmoney(TM) (www.popmoney.com) to their customer offerings by the end of 2009."

The Family Credit Union Now Offering Mobile Money from Fiserv
"BAI RDC Booth #417 -- Fiserv, Inc. (NASDAQ:FISV), the leading global provider of financial services technology solutions, today announced that The Family Credit Union, an $89.9 million credit union with branches in Iowa and Illinois, is now providing members access to mobile financial services with Mobile MoneySM."

Park State Bank & Trust Launches Bling Nation’s Mobile Payments Network
"The Community Payments Service is a secure local debit network, driven by the tap of a cell phone, that enables banks and merchants to avoid costly traditional payments network. As a result, shopping locally is promoted and money is kept within the Woodland Park community. In addition, consumers enjoy the convenience and safety of tapping their cell phones to pay for goods and services without exposing sensitive, personal information. With each purchase, a SMS text message is sent to the consumer with account balance and any rewards program updates."

ClairMail Introduces First-to-Market Mobile Banking Adoption Services Offering
"ClairMail, Inc., the leader in mobile banking and payment solutions, today introduced the finance industry's first end-to-end mobile banking adoption services offering. The complete services include best practices across all phases of the mobile banking adoption lifecycle -- Planning, Implementation, Marketing and Analysis -- enabling financial institutions to optimize mobile adoption and usage, better engage with their customers and drive toward the ultimate goal of realizing 100% mobile banking adoption and high return on investment."

Sybase 365 unveils mobile banking application for iPhone
"Sybase subsidiary, Sybase 365 which specializes in mobile messaging and mobile commerce applications has come up with a new release of mobile banking solution for iPhone users. The new application will be offered to financial institutions across the globe over the Sybase mBanking 365 platform. Sybase says the application offers a turn-key solution to the financial institutions enabling them a quick and easy rollout of mobile banking services."

Networks and Devices Seen Fueling Sharp Growth in Mobile Banking

"Mobile banking is gaining traction and the maturity of the infrastructure supporting it might present a new opportunity for credit unions to reach out and touch the millions of consumers who don’t bank online at all.

A new survey of more than 500 mobile phone users found that 60% not currently banking online would be interested in using at least one mobile banking service if it was offered during a typical month.

The same survey also showed that those estimated 55 million non-online banking households in the United States are heavy users of traditional banking channels–with nearly two-thirds of them contacting their financial institution once a week or more through contact centers, interactive voice response (IVR) systems and other more costly channels." >> Continue Reading

Bank of America’s New Ad Campaign Promotes Banking Transparency

"Bank of America is trying to do away with this closed image of banking with its new, $40 million ad campaign that attempts to portray the Bank as more open and transparent. Pointing to some of the banks very advanced products, Bank of America relates to the consumer in simple terms how these products can be used to keep you up to date on your accounts and help save you money. For example, one ad demonstrates how your mobile banking account can provide you with text alerts if you have a low balance, while another shows how you can save while you spend with Bank of America’s “Keep the Change” program. The ads aim to rebuild a sense of trust between banks and consumers." >> Continue Reading

Mobile Banking Updates - Nov 1

It has been an extremely slow week in the world of mobile banking, but with BAI kicking off on Tuesday I expect a slew of announcements over the next 48 hours. Check back often it should be fun week!

Android 2.0: The iPhone killer at last?
"In its three years, the iPhone has redefined the mobile device. But despite the iPhone's popularity, it is by no means certain to become the mobile equivalent of Windows, the dominant platform that defines our experience of a particular technology, as well as the business choices that surround it. Google's Android 2.0 OS is the latest in a series of mobile offerings seeking to derail the iPhone's momentum. Backed by heavyweights Google, Motorola, Verizon Wireless, Acer, and other big-name manufacturers, Android could potentially knock the iPhone down a peg. After all, while users love the iPhone, Apple's controlling tendencies have frustrated developers, and its disrespect for business concerns have frustrated IT."

Bling Nation gets another $20M funding for its pay-by-cellphone system
"Bling Nation, a Palo Alto-based company, has created a mobile payment service called Redi Pay that lets phone users pay for things in stores with their phones. I wrote about Bling Nation in July, when the company landed $8M in funding $from Lightspeed Venture Partners, Meck and Camp Ventures."

Vendors Offer New School 'Wrappers'

"Mobile banking use should double this year alone, and in order to graduate from basic balance queries and alerts to robust payments, vendors are flooding the market with products that suggest an intermediate step of usability and attractive screen appearance as the groundwork for future development.

'All of the mobile vendors offer things like balance, locations of branches or ATMs, or a means to view statements. This type of functionality is pretty well understood,' says Stessa Cohen, a research analyst for Gartner. 'What we're going to have to start to see is ways of differentiation of offerings, a way to allow banks to deliver new apps.'" >> Continue Reading

Mobile Money Ventures Collaborates with Citibank China

"Mobile Money Ventures, LLC (MMV), a leading global solutions provider of the next generation of mobile financial services, today announced it is continuing its string of successful deployments in the Asia Pacific region with the launch of a mobile banking solution in China with Citibank. Citi Mobile - the first offering of its kind in the country from a foreign financial institution - allows customers to access and manage their bank accounts using their phone's mobile browser.

'Citi Mobile is an extension of our commitment to bring our customers innovative services that truly enhance the banking experience,' said Anand Selva, Executive Vice President, Citibank (China) Co., Ltd. 'We're excited to work with MMV to give our customers the ability to securely manage their finances, regardless of time or location.'" >> Continue Reading

BBT Receives High Marks

"ClairMail, Inc., the leader in proactive mobile banking and payment solutions, today announced that customer BB&T Corporation (NYSE: BBT) received high marks for its mobile banking offering in recent reports by leading industry analyst firms ABI Research and Javelin Strategy and Research. BB&T, which is among the nation's top 10 largest banks, was awarded the top "A" grade in the Mobile Banking: U.S. Banks Report Card from ABI Research, issued in September 2009, and was also named a Silver category winner in Javelin Strategy and Research's 2009 Mobile Banking Scorecard published October 2009." >> Continue Reading

Mobile Banking's Next Big Market: The United States? by Navi Radjou

"In my recent trip to Silicon Valley, I had the privilege to meet with Carol Realini, CEO of Obopay, a mobile payment startup that is fueling a social revolution worldwide by enabling scores of unbanked people to avail of financial services for the first time in their life.

Obopay's technology allows consumers and small businesses to buy, pay, and transfer money through any mobile phone via a simple text message (or by using the Mobile web browser or Obopay's downloadable mobile app). People who send money via Obopay can fund their account either with cash or by linking it to their credit card or current account. Receivers can get the money either through an Obopay account or have it transferred directly to their bank account." >> Continue Reading

Mobile Banking Updates - Oct 26

Mobile Commerce: “Life Without a Wallet”
"We’ve all heard about the “cashless society”. But is it fact or fiction? Will mobile technologies play a role in accelerating the demise of our wallets and transform the way we will all transact our financial affairs? If so, when? What is the overall business case that drives the value for mobile commerce – and how can we accelerate its realization? Hear what the experts have to say about this revolutionary topic that is sure to affect all 6.5 billion mobile users worldwide, more than half of which reside in developing countries…"

Smartphone security threats likely to rise
"Worms, spam, viruses and hackers -- they're not just for your desktop or laptop anymore. According to internet security experts they could be well on their way into your pocket or purse. The popularity of smartphones -- like the Blackberry, iPhone, Palm and the emerging Droid -- is on the rise and shows no signs of letting up."

Petra Financial launches new Touchstone Mobile capabilities at MMT in Dubai
"Petra Financial is pleased to announce at MMT Dubai new Touchstone Mobile features being released such as enhanced security, support for wider BlackBerry operating system versions, and a forthcoming native Java version. Petra Financial a global software company is at the forefront of payments management, mobile banking, and mobile financial services; and counts customers such as HSBC, CaxtonFX, National Australia Group, and Deutsche Bank."

M-Com Delivers Best-In-Class Authentication Measures For Mobile Banking And Payments
"International mobile banking solution provider M-Com, announced today that it has been positioned as ‘best in class’ for its effective use of multi-channel authentication and security measures in its flagship mobile banking and payments product, BankAnywhere. This assessment was carried out in research firm Javelin Strategy & Research’s Multi-Channel Authentication via Mobile Banking report, published in September 2009."

Monitise Americas Now Provides Mobile Money Services to over 150 Financial Institutions
"Monitise Americas, the Mobile Money specialist, today announced over 50 financial institutions have now signed up for its full service solution, which consists of real-time balance inquiries, mini-statements, account transfers, bill payments, same-day payments and more, delivered by a downloadable application, iPhone app or a secure browser. A further 100 financial institutions have signed up for its text services, which include weekly balance texts and account updates delivered via SMS."

Mobile Banking Updates - Oct 23

INSIDE CONTACTLESS LAUNCHES INITIATIVE TO JUMPSTART MOBILE PAYMENT MARKET
"INSIDE Contactless, the world leader in advanced open-standard contactless chip technologies, today announced an initiative to create a new class of mobile payment solutions that banks, brands, transit agencies and others can deploy quickly, easily and in a highly targeted way starting in 2010. INSIDE has already engaged with several innovative technology companies that share its vision to develop a variety of mobile payment solutions based on INSIDE’s proven, certified MicroPass® platform that will enable existing mobile phones to support mobile payments, as well as transit, ID and access control applications. A number of these solutions expected to reach the market as early as this fall."

Chevron Valley CU Taps Corporate Network eCom as Its Provider
"A downloadable application residing on members' phones, MobileMember provides real-time, around-the-clock access to account information. In addition to the ability to view account balances and transfer funds, Chevron Valley members will have a full range of bill payment capabilities at their disposal, including scheduling regular or expedited payments, managing scheduled payments and viewing payment history -- all from their mobile devices."

Mobile-Banking Lagging Due To Ineffective Marketing by Banks
"Banks' marketing efforts are not keeping pace with their actual mobile-banking services, and the imbalance is causing limited adoption of mobile-banking by consumers, reports a study by Javelin Strategy & Research. The study found that 50 percent of financial institutions do not adequately address consumers' two primary mobile banking concerns. The report also rates the mobile-banking offerings of 18 top financial institutions based on features, access to mobile-banking services and marketing. Gold-category winners identified by Javelin include Bank of America, Chase, Citi, USAA and Wells Fargo."

Bank of America Highlighted in Sprint Android Apps

Bank of America mobile banking is one of the featured apps in Sprint's new Android promotional site.
http://now.sprint.com/android/

M-Com To Participate In Mobile Financial Services Congress 2009

"Mobile Financial Services Congress 2009 will bring together the industry leaders, such as M-Com and Fiserv, and early adopting financial institutions to share their experiences of developing mobile financial services platforms. Occurring at a critical time for the industry, as many institutions are poised to enter the market, and the industry as a whole prepares for a concerted push to further drive adoption in 2010 and beyond.

Scheduled in Miami on the 1st, 2nd and 3rd of December 2009, the Mobile Financial Services Congress will offer essential insights on successful strategies for launching and developing a full service mobile offering." >> Continue Reading

Find out more or register at http://www.arena-international.com/mobilefinance/

Extending the Reach, Impact and ROI of Mobile Banking

Information Week is hosting a webcast titled "Extending the Reach, Impact and ROI of Mobile Banking and Transaction Services" on Thursday October 22nd.

Featured Speakers:

Kirk Laughlin, Moderator/Contributing Editor, InformationWeek

Douglas Brown, Senior Vice President, Mobile Product Development, Bank of America Corporation

Charles Landry, Vice President & General Manager -- Products & Innovation, Verisign's Messaging and Mobile Media Division

Calvin Grimes, Product Manager, Electronic Banking Services, Fiserv

Click here to register for the event.

Mobile Banking Updates - Oct 18

MShift and San Antonio Credit Union offer Mobile Deposit
"Randolph-Brooks Federal Credit Union is gearing up to offer its members mobile depositing capabilities via any wireless smart phone and service provider. Dubbed mBranch, the service is slated to be rolled out in early 2010."

M-Com Positioned as a Leader in Magic Quadrant for Mobile Banking
"International mobile banking solution provider, M-Com, announced today that it has been positioned by Gartner Inc. in the ‘Leaders’ quadrant of the Magic Quadrant for North American Mobile Retail Banking report. 'In my opinion, our positioning in this report mirrors what our customers and partners have been saying since we first launched mobile payment services in 2002,' comments M-Com CEO and Founder, Adam Clark."

New England Federal Credit Union Selects PSCU Financial Services and mFoundry for Mobile Banking
"Vermont-based New England Federal Credit Union (NEFCU) announced that they have selected PSCU Financial Services and mFoundry to deliver mobile banking to their more than 70,000 members. With over $720 million in assets, NEFCU is the largest credit union in the state of Vermont. "

Small Business Mobile with MMV

I'm proud to announce that we have another FAAN Sponsor. Please check out the Mobile Money Ventures (MMV) ad on the right. On October 20th they're hosting a session on Small Business Mobile Banking in Chicago. >> Learn More

Monitise 1 Million Customers

"Monitise plc, the global mobile money specialists, announces that it has registered its one millionth customer following a period of rapid growth in the uptake of its industry-leading services." >> Continue Reading

MShift Mobile Deposit - Thank You

I'd like to take a minute to direct your attention to the MShift banner ad on the right side of the page. This is my way of saying "Thank You" to MShift for their generous donation to FAAN (Food Allergy and Anaphylaxis Network). FAAN is a charity that is near and dear to my heart as I am the parent of a child with food allergies.

As the banner ad suggests MShift has recently announced the integration of Mobile Deposit into their solution, and was even highlighted by the Wall Street Journal...

"MShift wants consumers to deposit their checks into their bank accounts using their cellphones, and its mobile app lets them do that. Customers sign up with the service and a participating bank, then shoot a cellphone photo of a check and forward it to MShift. The start-up processes it and sends a text message confirmation back to the customer." >> Continue Reading

Mobile Money Ventures Partners With Citibank Hong Kong to Launch Mobile U.S. Stock Trading Capability

"Mobile Money Ventures, LLC (MMV), a leading global solutions provider of the next generation of mobile financial services, today announced it has rolled out the first mobile U.S. stock trading capability in Hong Kong with Citibank. The new feature builds on the successful mobile platform deployed by the two companies last year, allowing Citibank’s Hong Kong customers to now trade on both the Hong Kong and American markets, including the New York Stock Exchange and NASDAQ.

'At MMV, we are constantly working to innovate and develop cutting edge features to ensure our customers can take advantage of the most advanced technology available,' said Jayastu Bhattacharya, Senior Vice President of Strategic Business Development at MMV. 'With our customizable and scalable platform MMV can quickly and seamlessly bring to market solutions that meet our customers’ needs.'” >> Continue Reading

Mobile Banking Updates - Oct 14

Co-op Model Puts Mobile Banking in Reach of CUs
"Eaton Family Credit Union had been interested in deploying mobile banking for some time, but its initial research into the technology turned out to be little more than expensive window-shopping. 'It was just way beyond our means,' said Fred Siegel, a business development manager for the 11,000-member Cleveland-area credit union, which has about $39 million of assets. So instead of buying an expensive software product, Eaton Family opted for a cooperative application from the credit union service provider Co-op Financial Services."

E-Payments: Telcos Not Trying To Get Into Banking; Transaction Cost
"Speaking at the IAMAI symposium on Financial Inclusion through mobile phones, Pallab Mitra, Head (Mobile Commerce) at Bharti Airtel repeated multiple times that the telecom operator is not interested in taking on the role of banks, rather, wants to work with banks. “We don’t have the wherewithal. A telecom operator will facilitate the ability for a common man to get a bank account with his expertise. We’re not trying to get into banking."

Monitise Americas Chosen as a 2009 Mobile Excellence Award Finalist
"Monitise Americas, LLC, a leading mobile banking and payments provider, is today setting its sight on a prestigious Mobile Excellence Award for Best Mobile Innovator, which honors the company that has proven to be the most progressive or launched the most groundbreaking product/service/model."

ClairMail Posts Record Revenue Growth in Third Quarter
"ClairMail, Inc., the leader in mobile banking and payment solutions, today announced that it has posted another 200 percent year-over-year revenue increase for the third quarter ending September 2009. Due to another record quarter and the company's unmatched roster of financial institution customers, ClairMail has also increased its mobile banking reach to more than 50 percent of the United States population. ClairMail had previously announced a record number of new customers and a 200 percent year-over-year revenue increase for the second quarter of 2009."

Fiserv Drives Paperless Bills with New E-mail and Mobile Presentment

"Biller Direct HV also enables consumers to receive Short Message Service (SMS) text messages delivered to their mobile device with notifications regarding their billing account, including a bill reminder that contains bill summary information. Fiserv has already secured partnerships to make this new upgrade available and compliant with all U.S. mobile carriers.

"Particularly for younger consumers, incorporating mobile alerts to notify them of bills coming due or that have just been paid will help increase the utility and immediacy of bill payment services, while adding minimal incremental costs. For firms considering alerts, the need to develop them in-house can be offset by partnering with a solution provider that offers alerts as part of its broader bill payment platform," said Edward Kountz, senior analyst, Forrester Research, in the June 2009 report US Electronic Bill Payment And Presentment Forecast, 2009 To 2014." >> Continue Reading

Mobile Banking Updates - Oct 11

Verizon Backs Android
"A year after Google introduced its Android operating system on T-Mobile, the smallest of the major wireless carriers in the United States, it announced a deal to offer handsets with Verizon Wireless, the nation’s largest carrier. The carrier said Tuesday it expects to introduce two Android phones this year. It didn’t name the manufacturers, but one is expected to be made by Motorola. In addition, Verizon and Google said they would work together along with manufacturers to design handsets specifically for Verizon’s network."

Will Bank of America Propel Mobile Deposit to Mainstream?
"Bank of America Corp. is planning to test a service that would enable customers to deposit checks electronically with mobile phones, a move that could transform a niche application into a mainstream offering. B of A is not the first to offer mobile remote capture to consumers, but when the anticipated test kicks off this year it will almost certainly be the biggest, and that kind of market clout could prompt other banks to follow suit, according to analysts."

Mobile Wallet: Can your phone replace your wallet?
"Whether scanning a cell phone to purchase a bullet train ticket in Japan or buying cattle in sub-Saharan Africa, the ubiquity of mobile phones is revolutionizing traditional banking and commerce. Gartner estimates by the end of 2009, 74.4 million people will use mobile devices to purchase goods and services worldwide, and will double by the end of 2012 . DoCoMo's Japanese consumers have been buying mass transit tickets and vending machine goods via cell phones for ten years."

Amazon launches mobile payment service
"Amazon Payments today launched a new service that brings the company's payment processing tools to mobile devices. Amazon Mobile Payments Service (MPS) includes a set of APIs (application programming interfaces) that allow mobile developers and merchants to provide payment options to their customers within mobile Web sites and applications--including the convenience of Amazon's 1-Click checkout system."

The Mobile Payment Conundrums: To Chip, To Store, To Bank?
"The payment strategy struggles for Mobile-Commerce continue, with retail IT execs seeing the phone as a future “Get Out Of Interchange Jail Free” card in an elaborate game of Card Brand Payment Monopoly. Some see future secure chip-integrated phones as the answer, a way that moves payments away from Visa and MasterCard and permits a secure way to tap directly into a consumer’s bank account."

Exclusive: Dell’s Android phone is coming to the U.S.
"Remember the Dell Mini 3i, Dell’s China-only Android phone? Well it’s not China-only anymore. Rumor has it that Dell will bring the Mini 3i to the U.S. in the next few months to compete with other Android phones coming down the pike from HTC, Samsung, and Motorola. The phone, presumably still in its Chinese trade dress, felt “cheap and plasticky, like the Pre,” according our tipster. He believes it will be upgraded for the American market."

Eye on Opportunities in Expedited Bill Pay And Mobile Banking
"Two research reports released on Wednesday point up emerging opportunities in mobile banking and same-day bill payments, particularly for financial institutions. Banks and billers alike will have to be careful how they price so-called expedited bill payments, or those electronic payments that post with billers on the same day. These 11th-hour payments, which consumers typically make to avoid stiff late fees, now carry an average fee to the consumer of $8.18, according to Pleasanton, Calif.-based Javelin Strategy & Research, which released its 2009 Expedite Payments Forecast report."

Citi the first to launch mobile banking functionality in Spanish
"Citibank announced the launch of Citi Mobile en Espanol that allows customers with Spanish language preferences bank in this language from their smartphones. Customers can manage their accounts, pay bills, locate Citibank branches and more - all from the convenience of their cell phones. Citibank is the first major U.S. bank to offer mobile banking in Spanish."

It's safe to use your phone for banking, experts say
"When I'm out shopping, I often check my account balances with my cell phone to avoid possible overdrafts. I access my account information through my phone's Web browser or send a text message to my account to get my balance. Like many people, I have become so accustomed to using my cell phone for just about everything that I didn't think about any security risks linked to mobile banking. But it got me wondering: Am I putting my financial security at risk by accessing my banking information with my phone?"

Mobile Banking Updates International - Oct 11

T-Mobile and 3 strike mobile banking deals with Monitise
"T-Mobile and 3 have secured deals with mobile money provider Monitise that will allow them to offer mobile banking to their customers. The operators will use Monitise’s mobile banking technology to enhance their service offerings, enabling customers to register and receive bank balance alerts by text message. UK users can access services via T-Mobile’s ‘Web‘n’Walk’ and ‘T-Zones’ mobile portals. They can register for weekly alerts to receive text messages at a time of their choosing, and be sent a message if their balance goes above or below a certain limit."

Absa scoops most innovative bank in Africa award
"Absa (ASA) reports that it was recognised as the 'Most Innovative Bank in Africa' at the African Banker Awards 2009 event held in Istanbul, Turkey, while its Tanzanian subsidiary, the National Bank of Commerce (NBC) Ltd was also honoured as the 'Best Local Bank in Africa'."

Banking while on the go
"Internet banking could become old hat as consumers now opt to use their mobile phones.Uptake of Kiwibank's mobile banking has grown 600 per cent in its first year, says spokesman Bruce Thompson. 'This is in line with global trends, with the tipping point being the launch of the iPhone.'"

With 'Splash Cash' Sierra Leoneans Move Money By Mobile Phone
"Mobile banking has already taken off in Southern and Eastern Africa. Sierra Leone is now one of the few West African countries with a service providing mobile phone transactions. Across West Africa, the yellow and black signs of the money transfer company Western Union are ubiquitous. Up until now, this was the easiest way to send money for those without a bank account."

Bank in Japan Demonstrating an All-Mobile Business Model - Steve Bills

"Banks all over the world offer financial services through mobile phones, but few have taken the concept as far as Jibun Bank.

The Japanese financial company has designed its services so customers can handle their finances exclusively by phone. Analysts say the model has pushed the mobile channel about as far as it can go, but they add that it would be a poor fit in most other markets, including the United States.

Started in June 2008 as a joint venture between Mitsubishi UFJ Financial Group Inc. and the Japanese telecom company KDDI, the Tokyo bank has attracted 700,000 accounts and 10 billion in Japanese yen deposits — about $112 million — and it has a target of 2.4 million accounts and deposits of 1 trillion yen (about $11.2 billion) by its third year of operations." >> Continue Reading

Offline Client is Untapped Market for Mobile Banking

"The survey, commissioned by VeriSign's Messaging and Mobile Media Division and conducted by Palmer Research, in collaboration with financial services technology provider Fiserv (NASDAQ: FISV) and mobile banking provider M-Com, illustrates that 60 percent of consumers not currently using online banking would be interested in using at least one mobile banking service if it was offered during a typical month." >> Press Release

Request White Paper: New Research Reveals Untapped Marketing for Mobile Banking Among Offline Consumers

Mobile Financial Services Congress 2009

I'm proud to announce that I'll be participating in the Mobile Financial Services Congress. The event will be held in Miami, Florida on December 2nd-3rd.

Mobile Financial Services Congress 2009 will bring together the industry leaders and early adopters to share their experiences of developing mobile financial services platforms. Occurring at a critical time for the industry, as many institutions are poised to enter the market, and the industry as a whole prepares for a concerted push to further drive adoption. The Mobile Financial Services Congress offers essential insights on successful strategies for launching and developing a full service mobile offering. >>View the Mobile Congress Website

The speakers that have committed include:

Armin Ajami - Wells Fargo
Jeff Dennes - USAA
Rob Rankin - Fifth Third
Ginger Schmeltzer - SunTrust
Carl Synder - Zions Bank

Other links:
Learn about the Agenda
Register Now

FTC Disclosure: As an event speaker the conference has offered to cover a portion of my travel related expenses.

Gartner Publishes Magic Quadrant for Mobile Banking

I just finished reading the new report from Gartner titled, "Magic Quadrant for North American Mobile Retail Banking" by Stessa Cohen.

I can't share any of the details for fear of copyright infringement but it's a definite "must read." And per the new FTC rules, I'd like to clarify that I did NOT receive any payment or incentive to write this post.

MyVantage Goes Mobile With a First-of-its-Kind Solution!

Vantage CU has launched an innovative mobile banking solution, and if I understand the system correctly, they have done it without the ordinary hurdles...shortcodes, aggregators, and carriers.

I'm anxious to hear your opinion on this idea...please let me know what you think.

"Since the launch of our new MyVantage online account management system in April, many members have asked for a mobile banking solution. We're now very excited to introduce the first-of-its-kind banking solution via Twitter.

Introducing tweetMyMoney, available exclusively to Vantage members!

With tweetMyMoney, you can monitor your account balance, deposits, withdrawals, holds and cleared checks with simple commands. And, you can even transfer funds within your account. It’s all available on Twitter, 24/7! And, the best part is, our tweetMyMoney service is free!

So how is this mobile? If your phone can send and receive text messages and you’re on Twitter, you’re in! tweetMyMoney uses Twitter’s Direct Message feature to return the account information you request.

Want to learn more?"