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."