Mobile Banking Updates - Apr 14

Mobile Banking: Building Trust
"Innovation has inarguably made our lives richer and what it’s brought to the financial world is no exception. Mobile Banking is the next wave of innovation in Finance and it’s primed for wide-scale adoption; however it won’t gain mass appeal until trust has been built. The question becomes “how does one build a trustworthy Mobile Banking platform?” Throughout the entire history of banking, trust has been built by executing on two key principals:"

What the iPad Means to Mobile Banking
"Selling some 300,000 units upon its April 3 release, Apple's iPad could represent a new era of content consumption and interaction. And with more tablet PCs on the horizon, this new category of consumer electronics could affect mobile banking.
Geoff Knapp, vice president, online banking and consumer insights for Fiserv, a financial information management and service provider, believes the iPad in particular, with its iPhone-like operating system, iTunes App Store and 9.7 inch touch screen, could present an advantage in the future to banks willing to adopt the technology early and develop native apps. Early on, he believes banks will promote banking on the iPad through a mix of browser-based banking, already-existing iPhone apps and basic iPad-specific apps."

Scotiabank to Expand Mobile Banking, Funds in Canada (Update2)
"Bank of Nova Scotia plans to invest more money in mobile banking and in its automated teller network and will consider new fund products to expand the consumer- lending business. 'The opportunity, even though it’s a mature market, to grow our Canadian businesses is still quite significant,' said Christopher Hodgson, Scotiabank’s head of domestic banking.
Canada’s third-biggest bank posted record net income of C$560 million ($557 million) at the unit in the fiscal first quarter, a 28 percent increase from a year earlier. Chief Executive Officer Richard Waugh said the firm can do better."

10 years of mobile banking - what's changed?
"Is it just me, or does mobile banking seem to perpetually be the next big thing? Maybe it's because I remember how underwhelmed I was by the first generation of WAP browsers on mobile phones when trying to access my bank account in 2000, but over the past decade I can count on one hand the number of times I've done 'mobile banking' on my phone, other than speak to a call centre operative."

Data reveals truths about Gen Y’s financial habits
"Fiserv, one of the world’s biggest information management companies in the financial industry, released the results of a study looking into the financial habits and influences of Gen Y. The survey, conducted in July 2009, involved 3,271 Internet-connected households. The study’s most surprising finding? That the level of hype regarding the importance of online communities in Gen Y’s financial lives doesn’t match its actual influence."

Monitise Achieves Two Million Customers
"Monitise Americas, the leading mobile banking and payments provider, has announced its parent company, Monitise, has achieved over 2 million registered users for its services in the UK and the US, driven by increased uptake of its smartphone apps. Monitise provides its secure Mobile Money Manager platform to over 240 banks and financial institutions in the US and UK, with 100 million transactions processed by the platform every year."

Mass.-Based StonehamBank Taps FIS to Launch Mobile Banking
"Stoneham, Mass.-based StonehamBank announced April 6 the launch of its mobile banking and payment services, developed in partnership with technology provider, FIS. A 115-year-old community bank with three Massachusetts locations, StonehamBank's leadership said the new technology was about customer access."

Diebold Deploys Mobile Banking Platform MobiTransact At Alpine Bank
"Diebold, a provider of integrated self-service delivery and security systems and services, has deployed mobile banking platform MobiTransact at Colorado-based Alpine Bank. MobiTransact provides both text and browser support to a variety of mobile devices. With MobiTransact, Alpine Bank can provide its customers immediate access to their accounts, anywhere at any time, without requiring an online banking account."

Mobile Money Canada 2010, Canada’s Only Mobile Financial Services Conference, Will Take Place On September 21st, 2010
"Mobile Money Canada 2010 will bring together over 200 senior executives, thought leaders, and mobile financial practitioners from Canadian banks, mobile operators, financial service providers, and technology solution providers, and consultancies to discuss, debate, and network."