Mobile Banking Updates - Nov 2

Will Mobile Corporate Banking Fly?
"Exaggerated claims by technology vendors about their new products are a dime a dozen. But when Fundtech, a major provider of bank transaction technology, recently announced that it was rolling out "the first mobile platform designed specifically for corporate electronic banking," it was hard not to take notice.

There are, to be sure, other players in the mobile corporate banking business. Pyxis Mobile, for example, offers a broad platform of solutions for internal use by commercial banks and other financial institutions. And many banks have adapted applications designed primarily for consumers so business customers can use them."

“Phishing” website imitates BML mobile banking
"On 31st October 2010, Bank of Maldives issued a warning that fraudsters had created a false BML website to deceive the customers of mobile banking service. This is the second reported case of a “phishing” attempt to BML customers.

The fraudsters were inviting BML customers to their website located at their domain name by sending text messages from 00455, claiming it was a registration website for the BML mobile banking service. If a customer process the registration through the fraudulent website the cyber criminals can obtain customers bank account number, credit card number and its security code."

Union Bank Launches Mobile Banking App. For Commercial Customers - Quick Facts
"Mitsubishi UFJ Financial Group Inc.'s unit Union Bank N.A., Tuesday announced the launch of its Mobile Business Center, a secure and user-friendly mobile banking application that enables its commercial customers to access their accounts and perform certain treasury management activities on their smartphones."

St George Introduces Android m-banking Application
"Android smart phone users will now have access to key online banking features with a new, purpose-built Mobile Banking application for Android devices - another Australian first for St.George bank - with an application for the new Blackberry Torch to follow soon."

Michigan First Credit Union Launches Mobile Banking
"Michigan First Credit Union (http://www.MichiganFirst.com) today announced the addition of Michigan First Mobile to its suite of convenient banking services. The new mobile banking service is available to Michigan First's more than 80,000 members, allowing them to check balances, view transaction history, transfer funds and pay bills, anywhere, anytime, from their mobile device. Members can access Michigan First Mobile via their mobile browser, by texting, or by downloading a free application. Michigan First Mobile applications are available for Blackberry, iPhone, and Android devices, as well as several others."

San Diego resident signed up for mobile banking and won a grand prize
"San Diego County Credit Union, San Diego’s largest locally owned financial institution, has announced that Raymond Regno of San Diego claimed a brand new MacBook Air as the grand prize winner of its Mobile Banking Sweepstakes. In addition, five first prize winners won an iPad, 10 other lucky winners won a $100 iTunes Gift Card and the first five hundred new enrollees won a monetary prize."