"Brandon McGee, Industry Insider, Mobile Banking Guru...He is not only the real deal, a genuine industry insider, but also knows exactly what's on the minds of financial service pros as they contemplate the various mobile options." - Jim Bruene, Publisher & Founder, Online Financial Innovations

"Going Mobile. Local executive carves niche as national expert on fast-growing banking-industry technology trend" - Scott Olson, Indianapolis Business Journal (IBJ)

"Brandon McGee, the industry's unofficial ambassador for mobile banking" 

Sunday, February 28, 2010

Mobile Banking Updates - Feb 28

CUs Need to Remember That Mobile Banking Is Both Technology and Art
"Which one of these two statements is true? First, mobile banking is a new and innovative way of connecting a credit union with its members that will only become steadily more important. Second, mobile banking is an expensive, time-consuming and frustrating new technology that remains more of a gimmick than a lasting benefit."

Avoiding Mobile Madness: Mobile Finance and the Impact on Regulators
"Yesterday, I participated in an Emerging Issues Forum at the Federal Reserve Board of Governors—they called it 'Protecting Consumers in a Mobile Finance World.' Easier said then done. Granted, the Federal Reserve is trying to focus on the future technological trends impacting consumers, and not just the current issues we face on a daily basis. They are looking for the balance to ensure consumer protection while not stifling innovation—a lofty goal. Let’s hope they are up to the challenge."

Explosion of changes in Mobile and SMS Banking
"The February update of Mapa’s Mobile Banking and SMS Competitor Intelligence dashboards recorded several notable changes in the countries monitored.

Europe is catching up with the US banks following the introductions of iPhone applications from many major banks. In the American market, BB&T’s introduction of their iPhone application makes our dashboard complete in respect of American banks offering this product.

NatWest and RBS introduced a Mobile Banking iPhone application which is by contrast a first for banks in the UK. The service contains the same features as their original Mobile Banking application – both developed by service provider Monilink. NatWest / RBS have also extended their range of SMS services. Customers registered for the Mobile Banking service can now request a mini statement by texting ‘MINI’ to a specified number."

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