Mobile Banking Updates - Sept 19

The Mobile Banking Webinar - Sept 22 The London Stock Exchange
Tim France-Massey, Royal Bank of Scotland
Phil Sowter, Barclays
Paul Berney. Mobile Marketing Association

Mobile Service Targets Cambodia's 'Unbanked'
"How do you roll out a banking service in a place where most people don't have bank accounts? Australia & New Zealand Banking Group Ltd. tackled that question in developing WING, a banking and payment system it launched in Cambodia early last year. In Phnom Penh, said Peter Dalton, ANZ's general manager for innovation, it's not uncommon for workers to send money to relatives in rural areas via a taxi-bound courier, which is risky as well as expensive. The Melbourne, Australia, bank estimates that only about 500,000 of the country's 14 million population have bank accounts, but 'there is a need for saving and sending money,' he said."

Obopay and Star Network Partner for Mobile Transfers
"The agreement enables Obopay to offer the industry's only mobile money transfer solution with real-time capabilities that places the demand deposit account at the center of the transaction, the company said. The Star Network offers transaction speeds that are not possible with Automated Clearing House (ACH) transfers, which often take several days to process. With this service, financial institutions can offer a secure and convenient way for their customers and members to send and receive money using their mobile phones."

Afghanistan shows the UK how mobile banking should be done
"Last week on TV I saw a Barclays Bank ad showing how 'easy' it was for people to use their phones for mobile banking and I realised how far the UK is behind when it comes to this business. It was the first such commercial I'd seen.
The plethora of cash machines that appear to be in every shop nowadays and the (recently treated) plague of credit cards means UK banks have been woefully slow in offering customers this service. Meanwhile, in poverty-stricken countries such as Afghanistan it is transforming lives and probably saving them as well."

BofA Tests Mobile Payments
"Bank of America is extending its mobile financial offer, giving contactless chip-based payments another shot in the U.S. Mobile payments and mobile banking are quickly changing the financial landscape, not just for consumers but also for banks and credit unions. So what new opportunities are emerging in the arena of payments, and how are U.S. consumers expected to embrace these options?"

First Data to offer turnkey NFC service to US banks from early 2011
"First Data has partnered with South Korea's SK C&C to offer turnkey NFC-based TSM and mobile wallet services to its US banking and merchant customer base. The two companies will deliver a complete set of mobile commerce services to First Data's financial institution and merchant customers, including a TSM (trusted service manager) platform and mobile wallet software. Credit, debit, prepaid and gift cards will all be supported."

Banks need to go mobile to improve customer opinion
"New research from digital agency YouGov has revealed that banks could hugely improve their customer’s opinions by launching mobile banking services. The study, commissioned by on-line financial services company Intelligent Enviroments, reveals that 25% of people aged between 18 and 34 would be more approving of their bank if they were offered mobile features."