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."