"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, November 7, 2010

Mobile Banking Updates - Nov 7

Mobile Download Guide: Top iPhone Finance Apps for Mobile Banking
"Individuals and businesses (both big and small) often turn to smartphones and handhelds to help manage their finances on a daily basis. It's been like this for years and is no different with the iPhone, where tons of mobile money apps (i.e. expense trackers, loan trackers, calculators, banking, etc.) have helped folks keep their financial houses in order from day one.

In this article, we offer a comprehensive survey of over 80 of the best and most useful of these mobile-money-management apps—both free and paid. Most stand alone but some integrate with desktop programs such as Quicken, Money and Excel or your bank's online services."

Strong Mobile Adoption’s a Magnet for Tech Development
"Amid new research suggesting American consumers are rapidly embracing mobile banking, new payment, deposit and account capabilities are flooding the tech market.

These tech plays come as new a Nielsen survey found the number of U.S. subscribers to mobile banking has increased by more than 129 percent to more than 13 million over the past two years. Other research, conducted by TowerGroup on behalf of Clairmail, said that ten percent of online banking customers take up mobile banking within a year of the their banking launching the service. Tower also says the current domestic mobile banking market should grow to 53 million in 2013 from 10 million in 2009."

Mobile Security: Jumping the IP Hurdle
"Mobile banking security -- it's a big concern, and for many reasons the industry does not yet truly understand.

During the Mobile Financial Services Forum in Arlington, Va., in October, Jason Rouse, a mobile security expert and principal consultant of the mobile and wireless practice for Cigital, said mobile security and the authentication of mobile transactions are challenges the industry must address. Fluid mobile browsing habits and lacking authentication technology for mobile devices are to blame."

PayPal trumps banks on mobile micropayments
"Watching the bevy of announcements coming out of PayPal’s X Innovate conference this week, you could be forgiven for thinking banks have entirely missed the mobile payments boat.

Online media giants including Facebook and FT.com have jumped on board PayPal’s new digital goods payments platform, which will see PayPal receive 5 per cent plus 5 cents of every transaction under $12 that they process. Given the millions of transactions migrating to mobile, that translates to big business for PayPal, and a big loss for banks that have ignored micropayments, despite being aware of them for years."

The next 12 months for mobile banking...
"Mobile banking is one of a handful of new banking services that seemed to come along just as banks withdrew investment in new services and reigned in innovation budgets. However, as we emerge from the crisis there are lots of forces that are currently in alignment, pushing more of the tier one banks towards rolling out a mobile banking solution."

Mobile Banking Apps Many, Marketing Success Stories Few
"In their efforts to sign people up for mobile banking, banks can be their own worst enemy. The number of financial institutions offering downloadable applications, customized websites and check depositing services for mobile devices is expected to skyrocket in the next year. But consumer adoption could fall short of expectations without the right promotion, experts say."

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