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."