Mobile Payment Systems Could Leave Consumers at Risk
"Recent news stories have highlighted how consumers in the U.S. soon will be able to pay for products and services with a wave of their smart phones. But while mobile payment technologies may offer a convenient new way to pay for goods and services, consumers could be at risk of losing money when mistakes are made by merchants and processors or as a result of fraud, according to Consumers Union, the nonprofit publisher of Consumer Reports."
Mobile Banking Grows Slowly
"Mobile technology - it offers new opportunities for financial institutions to expand banking services and enhance the user experience. But the U.S. financial industry's adoption of mobile has been relatively slow.
Estimates for the number of U.S. banks and credit unions currently offering mobile banking -- via SMS/text, WAP/browser-based, downloadable applications or a "triple-play" combination of the three -- are hard to nail down. IDC Financial Insights in July reported that U.S. consumer adoption of mobile banking nearly doubled from 2008 to 2009, with SMS/text banking being the most popular. The (unspecified) number of institutions offering mobile banking also had increased, according to IDC, which based its data on a 2009 survey of 1,008 U.S. adults."
Bank of the West Launches Mobile Banking
"Bank of the West today introduced its mobile banking platform – providing customers access to the bank’s award-winning service through nearly any mobile device. The new mobile services give customers the ability to receive account alerts through text messages, perform transfers between accounts, and check account balances while on the go. A dedicated application for the Apple iPhone will be available next month."
Wells Fargo’s Mobile Banking Scores Pair of Independent Awards
"The Future Mobile Awards are given to companies that have made a significant contribution to their sector and are poised to make considerable market impact in the future. According to Juniper Research, 'Wells Fargo was chosen based on its multiple platform strategy and continued service innovation such as the recent near real-time warning of potentially fraudulent activity'”
Arah Erickson, senior vice president, Wells Fargo Retail Mobile Banking, commented, 'Wells Fargo is an internet banking pioneer and we have extended this commitment to providing innovative mobile banking services. We are proud of our ‘anytime, anywhere’ banking capabilities and are honored to have our commitment recognized with this award.'”
Fiserv Launches Mobile Source Capture, Bringing Convenience of Check Capture to Smartphones
"Fiserv, Inc., the leading global provider of financial services technology solutions, today announced the launch of Mobile Source CaptureTM, a new remote deposit capture solution that extends the convenience of remote check capture to camera-equipped mobile phones. Mobile Source Capture leverages best of breed Mobile Deposit® technologies from Mitek Systems, Inc."
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