Mobile Apps Insecure?
"Banks need to improve cell phone banking applications' security or face losing customers frightened by the risk, security experts say. About 80 to 90 percent of mobile phone-based apps that Chicago-based security firm via Forensics analyzes for security flaws fail its free "appwatchdog" tests. The firm recovered usernames, passwords, transaction data-sometimes all of the above-from the mobile apps offered by five banks over popular Android-based devices and iPhones in November assessments."
Many Moving Parts in Mobile Menagerie
"And then there were three. Lots of big news on the mobile bankingfront in the last few weeks, starting with the fact that Qualcomm-owned Firethorn is finally giving up the ghost after struggling to find its way as a carrier-centric mobile banking venture. It's been a fairly ugly ending, but you've got to give a load of credit to BTN Innovator Hall of Fame member Tripp Rackley. Firethorn-which he sold to Qualcomm in 2007 for $210 million in cash-was Rackley's second big score; he took Internet banking pioneer nFront public in 1999, and then sold it to Digital Insight in 2000 in a $439 million stock deal. No word on what Rackley's next move will be, but he spent the years between nFront and Firethorn as an entrepreneur in residence at a Georgia-based VC firm. Stay tuned."
How to Stem the Tide of Mobile Attacks
"The world is going mobile. The ability to offer banking services, including the ability to make purchases, via mobile devices is increasingly becoming a competitive requirement for financial institutions. According to a 2009 report by analyst firm Informa Telecoms and Media, the number of mobile banking transactions will grow to more than 300 billion by 2013 with an estimated value of $860 billion. Research also estimates the number of mobile users conducting regular banking on their devices will rise to an astonishing 977 million by 2013."
Banks boost mobile capabilities
"Americans love their smartphones: an average of 61.5 million Americans owned a smartphone in the final quarter of 2010, according to comScore. And although a lot of bank customers aren't too crazy about banking on those smartphones yet, banks are continuing to push mobile banking for their checking accounts, savings accounts and other products. A new study Corporate Insight, an industry research firm, finds that of the 16 large banks they survey, all but one offer some kind of mobile banking option to accountholders. Here are some of the other highlights from the study:
Mobile Banking Now Available at Numerica
"Numerica Credit Union just announced that mobile banking is available for members who use smart phones or who use web-enabled phones. Numerica members enrolled in Home Banking can now access their accounts from their web-enabled phone, smart phone, BlackBerry, Android, iPhone or iPad."
Monday, January 31, 2011
Sunday, January 30, 2011
Mobile Banking Updates - Jan 30
Wells Fargo shares mobile banking usage patterns at Mobile Marketing Forum
"Wells Fargo’s mobile customer base is looking increasingly like the overall customer base, a senior executive from the bank told delegates at the Mobile Marketing Forum. The bank’s mobile channels have also found widespread use across different demographics. The channels, however, are extremely popular with out-of-office workers, Generation Y and Millennial consumers, and mobile professionals."
Great Expectations: Global Security Challenge
"Mobile banking, social media, cloud computing. These all are part of the global banking landscape today, and with these innovations come new expectations, says Alessandro Moretti of (ISC)2 and UBS Investment Bank. 'There's an expectation that security will be built-in and be part and parcel of all those factors,' Moretti says. 'On the other hand, there's increased concern over who has access to personal and corporate data.'"
Mobile Banking Ubiquitous Among Large Banks, Chase's Declared Best
"The wide-scale consumer adoption of smartphones has pushed large retail banks to develop phone applications and mobile-formatted websites to help customers manage their accounts: a report released today by Corporate Insight found that all but one of the 16 large banks tracked by its Bank Monitor report offer mobile banking solutions to account holders through at least one delivery option, with many offering and promoting multiple options to clients and prospects."
U.S. Bank AccelaPay Mobile Banking Application Wins 2011 Paybefore Award
"Paybefore has chosen the U.S. Bank AccelaPay mobile banking application as a 2011 Paybefore Awards winner in the Best Virtual or Mobile Prepaid Application category. The awards are presented annually by Prepaid Media, whose Paybefore publications are the leading source of industry information for the global prepaid community."
BB&T introduces free downloadable iPad App
"BB&T has launched a free iPad application that allows more convenient banking access to its on-the-go clients. The BB&T iPad App is one of the first of its kind in the United States that’s not just a high-definition version of mobile banking. It is now available for download on the iTunes App Store."
"Wells Fargo’s mobile customer base is looking increasingly like the overall customer base, a senior executive from the bank told delegates at the Mobile Marketing Forum. The bank’s mobile channels have also found widespread use across different demographics. The channels, however, are extremely popular with out-of-office workers, Generation Y and Millennial consumers, and mobile professionals."
Great Expectations: Global Security Challenge
"Mobile banking, social media, cloud computing. These all are part of the global banking landscape today, and with these innovations come new expectations, says Alessandro Moretti of (ISC)2 and UBS Investment Bank. 'There's an expectation that security will be built-in and be part and parcel of all those factors,' Moretti says. 'On the other hand, there's increased concern over who has access to personal and corporate data.'"
Mobile Banking Ubiquitous Among Large Banks, Chase's Declared Best
"The wide-scale consumer adoption of smartphones has pushed large retail banks to develop phone applications and mobile-formatted websites to help customers manage their accounts: a report released today by Corporate Insight found that all but one of the 16 large banks tracked by its Bank Monitor report offer mobile banking solutions to account holders through at least one delivery option, with many offering and promoting multiple options to clients and prospects."
U.S. Bank AccelaPay Mobile Banking Application Wins 2011 Paybefore Award
"Paybefore has chosen the U.S. Bank AccelaPay mobile banking application as a 2011 Paybefore Awards winner in the Best Virtual or Mobile Prepaid Application category. The awards are presented annually by Prepaid Media, whose Paybefore publications are the leading source of industry information for the global prepaid community."
BB&T introduces free downloadable iPad App
"BB&T has launched a free iPad application that allows more convenient banking access to its on-the-go clients. The BB&T iPad App is one of the first of its kind in the United States that’s not just a high-definition version of mobile banking. It is now available for download on the iTunes App Store."
Tuesday, January 25, 2011
Mobile Banking Updates International - Jan 25
Students given tips on mobile banking
"A mobile banking camp was organized at Magadh Mahila College on Monday by the State Bank of India (SBI), Personal Banking branch, Patna, for creating awareness among the younger generation about the Mobile Banking Services (MBS) provided by the bank. 'Bank in your hand, that's SBI Mobile Banking,' was how the 300 young girls of the college, who learnt the Mobile Banking Technique, reacted."
A New Order Emerging in Mobile Based Financial Services
"India is at the cusp of evolving a radical mobile-based banking & payments framework, which could potentially revolutionize the approach to financial inclusion and electronic payments. With over 700 million mobile connections, and growing, much has been written about the opportunity for leveraging the mobile to empower citizens to conduct safe and trustworthy transactions including cash deposits, withdrawals, balance enquiry, payments and transfers."
Slowly but surely, mobile banking is entrenching itself
"If the bets of banks and mobile operators pay off, before long you should be able to walk into an Airtel or a Vodafone store and open a bank account, deposit or withdraw money from your account. Besides getting India villages, with its increasing disposable incomes thanks to rural employment guarantee schemes, into the banking fold, mobile banking will also free us from the hassle of carrying cash or cards to pay your driver’s salary or to pay the cabbie or for your grocery."
The best apps for mobile banking
"The arrival of 2011 has seen the launch of the UK's first access all areas banking application (app) for iPhone users. First Direct's new Banking On The Go app was launched on the apple app store on 13th January and so far it has been downloaded almost 10,000 times. With this app customers can check their balance, view the last 20 account transactions, make payments and transfer money between accounts."
Southtech sets up mobile-banking system at Bhutanese bank
"Southtech Limited, a Bangladeshi software company, has successfully implemented mobile-banking system at Bhutan Development Financial Corporation Limited (BDFCL), having 29 branches there. Southtech Ltd managing director Syed Mamnun Quader told the FE, "Now customers of the bank can obtain their latest account information with cellphones, instruct the bank to transfer fund, pay utility bills like water, electricity and city corporation bills, and top-up their phones."
Mobile money apps will transform way we live
"FOR Western consumers, the ability to transfer money from one place to another is just one way technology has made our lives easier. However, perhaps the biggest beneficiaries of the advances in mobile banking are in emerging economies. In Nigeria, for example, only 19 million of the 149 million population have bank accounts, but 75 million have mobile phones. Therefore the ability to use a phone as a conduit for funds is crucial, whether it’s for buying products or sending cash to the family."
"A mobile banking camp was organized at Magadh Mahila College on Monday by the State Bank of India (SBI), Personal Banking branch, Patna, for creating awareness among the younger generation about the Mobile Banking Services (MBS) provided by the bank. 'Bank in your hand, that's SBI Mobile Banking,' was how the 300 young girls of the college, who learnt the Mobile Banking Technique, reacted."
A New Order Emerging in Mobile Based Financial Services
"India is at the cusp of evolving a radical mobile-based banking & payments framework, which could potentially revolutionize the approach to financial inclusion and electronic payments. With over 700 million mobile connections, and growing, much has been written about the opportunity for leveraging the mobile to empower citizens to conduct safe and trustworthy transactions including cash deposits, withdrawals, balance enquiry, payments and transfers."
Slowly but surely, mobile banking is entrenching itself
"If the bets of banks and mobile operators pay off, before long you should be able to walk into an Airtel or a Vodafone store and open a bank account, deposit or withdraw money from your account. Besides getting India villages, with its increasing disposable incomes thanks to rural employment guarantee schemes, into the banking fold, mobile banking will also free us from the hassle of carrying cash or cards to pay your driver’s salary or to pay the cabbie or for your grocery."
The best apps for mobile banking
"The arrival of 2011 has seen the launch of the UK's first access all areas banking application (app) for iPhone users. First Direct's new Banking On The Go app was launched on the apple app store on 13th January and so far it has been downloaded almost 10,000 times. With this app customers can check their balance, view the last 20 account transactions, make payments and transfer money between accounts."
Southtech sets up mobile-banking system at Bhutanese bank
"Southtech Limited, a Bangladeshi software company, has successfully implemented mobile-banking system at Bhutan Development Financial Corporation Limited (BDFCL), having 29 branches there. Southtech Ltd managing director Syed Mamnun Quader told the FE, "Now customers of the bank can obtain their latest account information with cellphones, instruct the bank to transfer fund, pay utility bills like water, electricity and city corporation bills, and top-up their phones."
Mobile money apps will transform way we live
"FOR Western consumers, the ability to transfer money from one place to another is just one way technology has made our lives easier. However, perhaps the biggest beneficiaries of the advances in mobile banking are in emerging economies. In Nigeria, for example, only 19 million of the 149 million population have bank accounts, but 75 million have mobile phones. Therefore the ability to use a phone as a conduit for funds is crucial, whether it’s for buying products or sending cash to the family."
Sunday, January 23, 2011
Mobile Banking Updates - Jan 23
MasterCard debuts ATM mobile offering on Android platform
"MasterCard is letting customers search for and find the nearest ATM via an application for Android-enabled devices. Consumers can customize their search based on their banking needs, including the ability to search for a specific financial institution if they need to make a deposit. The application is available as a free download in Android Market and is also available on iPhone and BlackBerry devices."
Preparing for the Big Mobile Revolution - Eric Schmidt, Google
"Second, we must attend to the development of mobile money. Phones, as we know, are used as banks in many poorer parts of the world—and modern technology means that their use as financial tools can go much further than that."
Mobile challenges to the financial sector
"What's big in payments right now? I don't think we have to guess. Our good friends at PaymentsNews have already pointed out that 'Two payment-related themes are emerging from NRF conference being held this week in New York: POS encryption/tokenization and mobile payments acceptance.'"
Fifth Third Bank taps mobile payments service to accommodate consumers
"Fifth Third Bank is accommodating tech-savvy customers via a new email and mobile payments service. The bank is using CashEdge’s Popmoney email and mobile payments service which will be offered to consumers in mid-2011. Customers can send money from their online or mobile banking by using a recipient’s email, phone number or bank account information."
iPhones Ring at HSBC, CBOE
"While most iPhone banking apps to date have been more informational than transactional, First Direct has launched a transactional app, making it an early adopter among global banks. The UK-based online banking unit of HSBC, First Direct’s free app will allow consumers to use their iPhones and iPod Touches to view balances, the previous 20 transactions, make payments and transfer money between accounts. Apps for other smartphones are in the pipeline."
HSBC (First Direct) does do mobile
"Back in May last year, I complained about HSBC and its apparent lack of a mobile strategy. My complaints were purely selfish, because I wanted to be able to bank on my iPhone, and couldn’t find a way to do it. As an HSBC customer, I was jealous that other banks were offering something I couldn’t use. Well, last week, HSBC released their iPhone app to customers of its direct banking unit First Direct. It is an excellent first step."
"MasterCard is letting customers search for and find the nearest ATM via an application for Android-enabled devices. Consumers can customize their search based on their banking needs, including the ability to search for a specific financial institution if they need to make a deposit. The application is available as a free download in Android Market and is also available on iPhone and BlackBerry devices."
Preparing for the Big Mobile Revolution - Eric Schmidt, Google
"Second, we must attend to the development of mobile money. Phones, as we know, are used as banks in many poorer parts of the world—and modern technology means that their use as financial tools can go much further than that."
Mobile challenges to the financial sector
"What's big in payments right now? I don't think we have to guess. Our good friends at PaymentsNews have already pointed out that 'Two payment-related themes are emerging from NRF conference being held this week in New York: POS encryption/tokenization and mobile payments acceptance.'"
Fifth Third Bank taps mobile payments service to accommodate consumers
"Fifth Third Bank is accommodating tech-savvy customers via a new email and mobile payments service. The bank is using CashEdge’s Popmoney email and mobile payments service which will be offered to consumers in mid-2011. Customers can send money from their online or mobile banking by using a recipient’s email, phone number or bank account information."
iPhones Ring at HSBC, CBOE
"While most iPhone banking apps to date have been more informational than transactional, First Direct has launched a transactional app, making it an early adopter among global banks. The UK-based online banking unit of HSBC, First Direct’s free app will allow consumers to use their iPhones and iPod Touches to view balances, the previous 20 transactions, make payments and transfer money between accounts. Apps for other smartphones are in the pipeline."
HSBC (First Direct) does do mobile
"Back in May last year, I complained about HSBC and its apparent lack of a mobile strategy. My complaints were purely selfish, because I wanted to be able to bank on my iPhone, and couldn’t find a way to do it. As an HSBC customer, I was jealous that other banks were offering something I couldn’t use. Well, last week, HSBC released their iPhone app to customers of its direct banking unit First Direct. It is an excellent first step."
Wednesday, January 19, 2011
Mobile Shopping Spring April 27th
Mobile Shopping Spring
April 27th-29th
San Francisco, CA
Click to Learn More
Speakers:
Jay Scannell - SkyMall, Inc.
Howard Gefen - Amazon.com
Ian Klassen - Zappos
Sharon Knitter - Cars.com
Andrew Koven - Steve Madden
John Lazarchic - PETCO Animal Supplies Inc
Jennifer McClain - Chico’s FAS
Jared Miller - United Airlines
Archie Miller - Crutchfield Corporation
Darren Cross - Fandango
Alyssa Montes - The Wet Seal
Marc Parrish - Barnes & Noble
Sebastian Pawlowski - Amtrak
Nick Sheth - Gap Inc. Direct
Sean Spector - Gamefly
Deepak Thomas - eBay
Danielle Wolfson - Taco Bell
Steve Yankovich - eBay Mobile
Mike Dupuis- American Eagle Outfitters (Former)
Following hot on the heels of the inaugural Mobile Shopping Summit which ran in New York in October 2010, Mobile Shopping SPRING 2011 answers the essential roadmap development, platform design and channel strategy questions you have while moving the conversation forward to discuss which elements of the customer lifecycle are being positively impacted through mobile – whether that’s reach, acquisition, conversion, retention or loyalty.
Whether your customers are looking to find your nearest store, assess product reviews, access detailed product information, compare prices, and increasingly, irrespective of order value, securely make a purchase, share with a friend and receive special offers/ coupons they are generally looking to make their interaction with you richer, simpler and more customized, when and where they want.
But how can you provide clarity for all stakeholders over where your technology and marketing budgets and time will be best spent today, especially as it relates to all the other opportunities that need to be considered?
The Mobile Shopping Spring 2011 agenda has been developed to ensure you have the right framework, checklists and supporting evidence to help you define which investments in mobile will make the most sense as part of your overall marketing strategy, loyalty and engagement programs, prospecting activities and sales drives and how that’s integrated with all other channels – bricks and mortar, online, catalog and social. Presentations and panel sessions will remain focused on the tangible ‘how to’ and use cases for mobile.
Click to Learn More
Disclosure: I will be speaking at the Mobile Shopping event and the conference is covering a portion of my travel related expenses.
April 27th-29th
San Francisco, CA
Click to Learn More
Speakers:
Jay Scannell - SkyMall, Inc.
Howard Gefen - Amazon.com
Ian Klassen - Zappos
Sharon Knitter - Cars.com
Andrew Koven - Steve Madden
John Lazarchic - PETCO Animal Supplies Inc
Jennifer McClain - Chico’s FAS
Jared Miller - United Airlines
Archie Miller - Crutchfield Corporation
Darren Cross - Fandango
Alyssa Montes - The Wet Seal
Marc Parrish - Barnes & Noble
Sebastian Pawlowski - Amtrak
Nick Sheth - Gap Inc. Direct
Sean Spector - Gamefly
Deepak Thomas - eBay
Danielle Wolfson - Taco Bell
Steve Yankovich - eBay Mobile
Mike Dupuis- American Eagle Outfitters (Former)
Following hot on the heels of the inaugural Mobile Shopping Summit which ran in New York in October 2010, Mobile Shopping SPRING 2011 answers the essential roadmap development, platform design and channel strategy questions you have while moving the conversation forward to discuss which elements of the customer lifecycle are being positively impacted through mobile – whether that’s reach, acquisition, conversion, retention or loyalty.
Whether your customers are looking to find your nearest store, assess product reviews, access detailed product information, compare prices, and increasingly, irrespective of order value, securely make a purchase, share with a friend and receive special offers/ coupons they are generally looking to make their interaction with you richer, simpler and more customized, when and where they want.
But how can you provide clarity for all stakeholders over where your technology and marketing budgets and time will be best spent today, especially as it relates to all the other opportunities that need to be considered?
The Mobile Shopping Spring 2011 agenda has been developed to ensure you have the right framework, checklists and supporting evidence to help you define which investments in mobile will make the most sense as part of your overall marketing strategy, loyalty and engagement programs, prospecting activities and sales drives and how that’s integrated with all other channels – bricks and mortar, online, catalog and social. Presentations and panel sessions will remain focused on the tangible ‘how to’ and use cases for mobile.
Click to Learn More
Disclosure: I will be speaking at the Mobile Shopping event and the conference is covering a portion of my travel related expenses.
Tuesday, January 18, 2011
Mobile Banking Updates International - Jan 18
Mobile Technology Creates New Opportunities In Post-Earthquake Haiti
"The one year anniversary of the devastating 7.0 magnitude earthquake has come and gone. While the efficiency of Haiti's relief and rebuilding efforts have been criticized by politicians and citizens alike, there is a powerful tool that has brought much assistance to the Haitian people and whose market for change continues to expand: the cellular phone."
SBI-Airtel form JV for mobile banking
"SBI and Airtel have joined hands to form a new company that will offer mobile banking services. The initiative is aimed at financial inclusion of the un-banked population in the country. Under the new initiative Airtel outlets and retailers will serve as business correspondents (BC) of SBI (State Bank of India) and the bank's customers will be able to deposit and withdraw money from their accounts at Airtel outlets. They will also be able to transfer this money to others electronically as well from Airtel and SBI outlets. Services in the near future will include loans, insurance, credit cards and purchase transactions."
Deepak Chandnani promoted as Obopay global CEO
"Obopay, a leading mobile banking and payment provider, today announced the promotion of its President, Deepak Chandnani as CEO of Obopay, Inc. Founder and CEO, Carol Realini will assume the new role of Executive Chairman. In his new role, Chandnani will focus on the company’s significant growth in size and geographic scope, while Realini will continue her focus on corporate strategy as well as furthering Obopay’s corporate vision: evangelizing the need for mobile money and building its widespread adoption throughout the world."
Half of Tanzania’s population on phone
"A research team at the University of Dar es Salaam says half the Tanzanian population is currently hooked to mobile phones, and that it takes just a handset to run a business in the country. Led by Prof Ophelia Mascarenhas of the university, there is no need for offices, visiting cards or huge capital investments."
Gates Foundation, USAID Give Prize for Haiti Help
"A $2.5 million prize to get Haitians buying, selling and banking with their mobile phones didn't push the winner into the mobile banking business, but the Gates Foundation's incentive did make the company move much faster. 'It was a real gruesome race,' Digicel CEO Maarten Boute after the Bill & Melinda Gates Foundation announced Monday that his company had won the money for being first to establish cell phone banking in Haiti in less than six months."
"The one year anniversary of the devastating 7.0 magnitude earthquake has come and gone. While the efficiency of Haiti's relief and rebuilding efforts have been criticized by politicians and citizens alike, there is a powerful tool that has brought much assistance to the Haitian people and whose market for change continues to expand: the cellular phone."
SBI-Airtel form JV for mobile banking
"SBI and Airtel have joined hands to form a new company that will offer mobile banking services. The initiative is aimed at financial inclusion of the un-banked population in the country. Under the new initiative Airtel outlets and retailers will serve as business correspondents (BC) of SBI (State Bank of India) and the bank's customers will be able to deposit and withdraw money from their accounts at Airtel outlets. They will also be able to transfer this money to others electronically as well from Airtel and SBI outlets. Services in the near future will include loans, insurance, credit cards and purchase transactions."
Deepak Chandnani promoted as Obopay global CEO
"Obopay, a leading mobile banking and payment provider, today announced the promotion of its President, Deepak Chandnani as CEO of Obopay, Inc. Founder and CEO, Carol Realini will assume the new role of Executive Chairman. In his new role, Chandnani will focus on the company’s significant growth in size and geographic scope, while Realini will continue her focus on corporate strategy as well as furthering Obopay’s corporate vision: evangelizing the need for mobile money and building its widespread adoption throughout the world."
Half of Tanzania’s population on phone
"A research team at the University of Dar es Salaam says half the Tanzanian population is currently hooked to mobile phones, and that it takes just a handset to run a business in the country. Led by Prof Ophelia Mascarenhas of the university, there is no need for offices, visiting cards or huge capital investments."
Gates Foundation, USAID Give Prize for Haiti Help
"A $2.5 million prize to get Haitians buying, selling and banking with their mobile phones didn't push the winner into the mobile banking business, but the Gates Foundation's incentive did make the company move much faster. 'It was a real gruesome race,' Digicel CEO Maarten Boute after the Bill & Melinda Gates Foundation announced Monday that his company had won the money for being first to establish cell phone banking in Haiti in less than six months."
Sunday, January 16, 2011
Mobile Banking Updates - Jan 16
Mobile banking: how to beat the fraudsters
"Mobile banking tends to take one of three approaches. The first and the most simple is communicating with your bank using SMS messages to check your balance or to authorise a transaction. In addition, a number of banks, Lloyds for example, use SMS messages as an extra form of security if you are making a payment through the regular internet banking site to check it is genuine."
Getting the Word Out about Mobile
"Before consumers can take up mobile banking, they have to know it’s there to adopt, a knowledge gap and marketing shortcoming that still plagues the channel despite its fair share of hype and promise. Synergistics Research says about 40 percent of domestic consumers don’t know if their financial institution offers mobile banking, suggesting improvements are needed in marketing and promotion. Among respondents who own mobile phones, 40 percent are aware that at least one of their financial institutions offers mobile banking."
Android Users More Interested in Mobile Financial Services
"While the news in smart phones this week has been all about Verizon Wireless’s announcement that it will start marketing the iPhone next month, the news that may well be of more importance to mobile payments and mobile banking is the hot streak that Google Inc.’s Android operating system is on."
Mobile banking: 'Banks do their best, but consumers should protect themselves'
"Smartphones are more popular than ever and now you can do everything from your food shop to paying bills on your mobile. James Richards, head of mobile for digital banking company IE, explains how you can make sure you are properly protected."
"Mobile banking tends to take one of three approaches. The first and the most simple is communicating with your bank using SMS messages to check your balance or to authorise a transaction. In addition, a number of banks, Lloyds for example, use SMS messages as an extra form of security if you are making a payment through the regular internet banking site to check it is genuine."
Getting the Word Out about Mobile
"Before consumers can take up mobile banking, they have to know it’s there to adopt, a knowledge gap and marketing shortcoming that still plagues the channel despite its fair share of hype and promise. Synergistics Research says about 40 percent of domestic consumers don’t know if their financial institution offers mobile banking, suggesting improvements are needed in marketing and promotion. Among respondents who own mobile phones, 40 percent are aware that at least one of their financial institutions offers mobile banking."
Android Users More Interested in Mobile Financial Services
"While the news in smart phones this week has been all about Verizon Wireless’s announcement that it will start marketing the iPhone next month, the news that may well be of more importance to mobile payments and mobile banking is the hot streak that Google Inc.’s Android operating system is on."
Mobile banking: 'Banks do their best, but consumers should protect themselves'
"Smartphones are more popular than ever and now you can do everything from your food shop to paying bills on your mobile. James Richards, head of mobile for digital banking company IE, explains how you can make sure you are properly protected."
Wednesday, January 12, 2011
Mobile Banking Updates - Jan 12
Fifth Third Bank to Launch Popmoney® P2P Payments
"CashEdge, Inc. (www.cashedge.com), the leading provider of Intelligent Money Movement® services, announced today that Fifth Third Bank, one of the largest banks in the U.S., will launch Popmoney®, CashEdge's person-to-person email and mobile payments service, to its customers. The service will be offered online through Fifth Third's online banking platform www.53.com beginning in mid-2011."
TCF Bank Announces Checking Product Enhancements and Introduces Mobile Banking
"TCF Bank, Your Convenience Bank, announced important enhancements to several checking products and the introduction of TCF Mobile Banking. 'TCF Bank has been working diligently to simplify our product line-up and to make our accounts easy and accessible to all of our customers.'"
"CashEdge, Inc. (www.cashedge.com), the leading provider of Intelligent Money Movement® services, announced today that Fifth Third Bank, one of the largest banks in the U.S., will launch Popmoney®, CashEdge's person-to-person email and mobile payments service, to its customers. The service will be offered online through Fifth Third's online banking platform www.53.com beginning in mid-2011."
TCF Bank Announces Checking Product Enhancements and Introduces Mobile Banking
"TCF Bank, Your Convenience Bank, announced important enhancements to several checking products and the introduction of TCF Mobile Banking. 'TCF Bank has been working diligently to simplify our product line-up and to make our accounts easy and accessible to all of our customers.'"
Tuesday, January 11, 2011
Mobile Banking Security - Jan 11
As Mobile Banking Gets Smarter, Will it Get Safer?
"Mobile banking and mobile payments were pegged as two of Bank Systems & Technology's ten game-changing tech trends for 2011. Consumers everywhere are flocking to banking services on smartphones, over text messages or through mobile browsers. But with that increased rate of adoption comes an increased risk. Just how safe is it to conduct transactions on a mobile device? And what will the future bring in terms of security?"
Top Mobile Banking Dangers And How To Avoid Them
"You are about to board a plane when you suddenly realize that you have a measly $5 in your account for your trip. That's when you pull out your smartphone and, in a matter of seconds, magically deposit the needed cash into your checking account. From big national chains to smaller regional outposts, banks have improved the functionality of mobile banking so that consumers can transfer funds, pay bills or check balances whenever and wherever they may be."
"Mobile banking and mobile payments were pegged as two of Bank Systems & Technology's ten game-changing tech trends for 2011. Consumers everywhere are flocking to banking services on smartphones, over text messages or through mobile browsers. But with that increased rate of adoption comes an increased risk. Just how safe is it to conduct transactions on a mobile device? And what will the future bring in terms of security?"
Top Mobile Banking Dangers And How To Avoid Them
"You are about to board a plane when you suddenly realize that you have a measly $5 in your account for your trip. That's when you pull out your smartphone and, in a matter of seconds, magically deposit the needed cash into your checking account. From big national chains to smaller regional outposts, banks have improved the functionality of mobile banking so that consumers can transfer funds, pay bills or check balances whenever and wherever they may be."
Monday, January 10, 2011
International Mobile Banking Updates - Jan 10
Follow the Money: Mobile Banking Research in Afghanistan
"There's a moment at the end of every field study that's a mixture of relief and regret. It usually comes when the field study is wrapping up and the team is heading to the next destination -- shortly after take off, around the time that the food cart makes its way down the aisle and you're asked for chicken or beef -- or in this case lamb. It is the first proper reflection of whether the months of planning, the blood, buckets of sweat and tears have yielded enough to make it all worthwhile, and it's tinged with an acknowledgement that the opportunity for just one more interaction has passed."
Banks see cellphone transactions as path to growth
"A SENIOR executive at FNB has predicted an explosion of mobile banking in SA and Africa as banks use the cellphone to increase growth in the unbanked and low- income market. The CEO of FNB Smart Services, Yolande van Wyk, said in a recent paper on mobile commerce that mobile banking had become the ideal delivery channel to facilitate and deliver financial transactions and information."
China Bank launches mobile e-banking service
"China Banking Corporation (China Bank) has launched its own brand of speed banking 'China Bank Online for Mobile’ a mobile-optimized version of its award-winning internet banking service. China Bank’s mobile portal, www.chinabank.ph/mobile, is accessible via all Internet-enabled cellular phones and mobile devices such as iPad and iPod Touch."
"There's a moment at the end of every field study that's a mixture of relief and regret. It usually comes when the field study is wrapping up and the team is heading to the next destination -- shortly after take off, around the time that the food cart makes its way down the aisle and you're asked for chicken or beef -- or in this case lamb. It is the first proper reflection of whether the months of planning, the blood, buckets of sweat and tears have yielded enough to make it all worthwhile, and it's tinged with an acknowledgement that the opportunity for just one more interaction has passed."
Banks see cellphone transactions as path to growth
"A SENIOR executive at FNB has predicted an explosion of mobile banking in SA and Africa as banks use the cellphone to increase growth in the unbanked and low- income market. The CEO of FNB Smart Services, Yolande van Wyk, said in a recent paper on mobile commerce that mobile banking had become the ideal delivery channel to facilitate and deliver financial transactions and information."
China Bank launches mobile e-banking service
"China Banking Corporation (China Bank) has launched its own brand of speed banking 'China Bank Online for Mobile’ a mobile-optimized version of its award-winning internet banking service. China Bank’s mobile portal, www.chinabank.ph/mobile, is accessible via all Internet-enabled cellular phones and mobile devices such as iPad and iPod Touch."
Sunday, January 9, 2011
Mobile Banking Updates - Jan 9
Wells Fargo to Employees: Leave Wallets Home, Pay by Phone
"Wells Fargo (WFC) is again trying to make mobile payments at restaurants and retailers mainstream, three years after an earlier attempt lost steam. Peter Ho, product manager of card services at the bank, led a test several years ago that let executives use a Nokia phone, rather than a debit or credit card, to pay for fast food and other items. While he liked the convenience, Wells Fargo didn't end up offering the service to customers, partly because only the one handset was capable of transmitting payment information at the time."
Banks still don't get mobile, but neither do researchers...
"I read with interest a post pointed out to me by @JenRBoyd posted on Mobile Commerce Daily highlighting a recent Celent report comparing US and EU investment in multi-channel. The problem here is that the conclusions of the report are correct, but even the report itself suffers from an old-school view of the banking arena, that is, we are still asking the wrong questions..."
Nine Savannah banks offer text-message alerts
"Stuart Dutton stood before his bathroom mirror Tuesday morning when he suddenly remembered he needed to transfer funds from one bank account to another. 'It just came to my mind,' Dutton said. He completed the transaction before the thought could slip away - using the smartphone lying an arm's length away on the vanity."
The Electronification of Payments
"The ABA's Steve Kenneally says 2011 will be a year of payments change. As more transactions and banking channels rely on Automated Clearing House networks, U.S. banks are expected to up their investments in ACH innovation and security. Kenneally, vice president of the Center for Regulatory Compliance within the Financial Policy and Regulatory Affairs division of the American Bankers Association, says increases in ACH and debit transactions are opening doors for mobile, especially where online bill payment is concerned."
"Wells Fargo (WFC) is again trying to make mobile payments at restaurants and retailers mainstream, three years after an earlier attempt lost steam. Peter Ho, product manager of card services at the bank, led a test several years ago that let executives use a Nokia phone, rather than a debit or credit card, to pay for fast food and other items. While he liked the convenience, Wells Fargo didn't end up offering the service to customers, partly because only the one handset was capable of transmitting payment information at the time."
Banks still don't get mobile, but neither do researchers...
"I read with interest a post pointed out to me by @JenRBoyd posted on Mobile Commerce Daily highlighting a recent Celent report comparing US and EU investment in multi-channel. The problem here is that the conclusions of the report are correct, but even the report itself suffers from an old-school view of the banking arena, that is, we are still asking the wrong questions..."
Nine Savannah banks offer text-message alerts
"Stuart Dutton stood before his bathroom mirror Tuesday morning when he suddenly remembered he needed to transfer funds from one bank account to another. 'It just came to my mind,' Dutton said. He completed the transaction before the thought could slip away - using the smartphone lying an arm's length away on the vanity."
The Electronification of Payments
"The ABA's Steve Kenneally says 2011 will be a year of payments change. As more transactions and banking channels rely on Automated Clearing House networks, U.S. banks are expected to up their investments in ACH innovation and security. Kenneally, vice president of the Center for Regulatory Compliance within the Financial Policy and Regulatory Affairs division of the American Bankers Association, says increases in ACH and debit transactions are opening doors for mobile, especially where online bill payment is concerned."
Wednesday, January 5, 2011
Mobile Banking Updates - Jan 5
Money on-the-go from FirstCaribbean
"IN an age when TEENs want to become more financially independent, this new initiaitive is a welcome answer. And parents don't worry, this won't cost you any money. If you have a phone and a FirstCaribbean International Bank account then in less than 10 minutes, you can now bank on-the-go, thanks to the bank's new Mobile Banking service. Customers of FirstCaribbean can do their banking via SMS text messaging and immediately receive their account information via return SMS text."
DBS mBanking Application Empowered by Tagit Mobility Platform
"Tagit is one of the leaders in inspiring and integrating enterprise mobility for end-to-end consumer applications. Tagit (News - Alert) currently empowers DBS' mobile banking application, mBanking, which runs across all major mobile platforms and devices including the iPhone, BlackBerry, Android (News - Alert), Symbian, J2ME, Brew and Windows Mobile."
NAB releases Android banking app
"National Australia Bank (NAB) has quietly released a mobile banking application to the Android Marketplace today, allowing users of the Google operating system to bank on the go. According to the application's page on the Android Marketplace, customers can use the free app to transfer funds, pay bills, check account balances and transaction histories and view their Online Trading share portfolio. The application also includes a branch and ATM locator, as well as a foreign-exchange calculator.
2011: The year for mobile banking
"Research published recently by Forrester shows that mobile banking provision in Europe is gathering pace. This refers to all three of the main mobile banking services – mobile web, mobile app and text-based services.
According to its analysis, of the European banks offering mobile banking services:
• 76% offer SMS alerts
• 67% offer mobile banking web sites
• 64% offer iPhone apps"
Second password to be must for mobile banking
"If you use a credit or a debit card for any transaction by phone, then you need a second password starting from 1 January, 2011. The Reserve Bank of India has made second password mandatory for all transactions based on interactive voice response (IVR). 'It is very important for security of the customers and it will also reduce cases of frauds,' said Suresh Sethi, group president, Yes Bank . The cardholder has to send an SMS to a particular number . The bank will SMS back a password to the cardholder. This password will be the second authentication, which would be required to complete the transaction."
Creating the Right Mobile Banking Ecosystem
"Mobile network providers are feeling the crunch as consumers are demanding more applications, richer content and value-added services. A recent Alcatel-Lucent study determined that consumers have an ever-growing appetite for social networking, entertainment and information, all delivered over the mobile network. When you add mobile banking to the mix, the pressure is intense."
"IN an age when TEENs want to become more financially independent, this new initiaitive is a welcome answer. And parents don't worry, this won't cost you any money. If you have a phone and a FirstCaribbean International Bank account then in less than 10 minutes, you can now bank on-the-go, thanks to the bank's new Mobile Banking service. Customers of FirstCaribbean can do their banking via SMS text messaging and immediately receive their account information via return SMS text."
DBS mBanking Application Empowered by Tagit Mobility Platform
"Tagit is one of the leaders in inspiring and integrating enterprise mobility for end-to-end consumer applications. Tagit (News - Alert) currently empowers DBS' mobile banking application, mBanking, which runs across all major mobile platforms and devices including the iPhone, BlackBerry, Android (News - Alert), Symbian, J2ME, Brew and Windows Mobile."
NAB releases Android banking app
"National Australia Bank (NAB) has quietly released a mobile banking application to the Android Marketplace today, allowing users of the Google operating system to bank on the go. According to the application's page on the Android Marketplace, customers can use the free app to transfer funds, pay bills, check account balances and transaction histories and view their Online Trading share portfolio. The application also includes a branch and ATM locator, as well as a foreign-exchange calculator.
2011: The year for mobile banking
"Research published recently by Forrester shows that mobile banking provision in Europe is gathering pace. This refers to all three of the main mobile banking services – mobile web, mobile app and text-based services.
According to its analysis, of the European banks offering mobile banking services:
• 76% offer SMS alerts
• 67% offer mobile banking web sites
• 64% offer iPhone apps"
Second password to be must for mobile banking
"If you use a credit or a debit card for any transaction by phone, then you need a second password starting from 1 January, 2011. The Reserve Bank of India has made second password mandatory for all transactions based on interactive voice response (IVR). 'It is very important for security of the customers and it will also reduce cases of frauds,' said Suresh Sethi, group president, Yes Bank . The cardholder has to send an SMS to a particular number . The bank will SMS back a password to the cardholder. This password will be the second authentication, which would be required to complete the transaction."
Creating the Right Mobile Banking Ecosystem
"Mobile network providers are feeling the crunch as consumers are demanding more applications, richer content and value-added services. A recent Alcatel-Lucent study determined that consumers have an ever-growing appetite for social networking, entertainment and information, all delivered over the mobile network. When you add mobile banking to the mix, the pressure is intense."
Tuesday, January 4, 2011
Mobile Banking Updates - Jan 4
Banks Rolling Out Mobile Apps For Small Business Users
"A growing number of Connecticut banks are adopting mobile banking applications as they compete for younger depositors and customers — especially small business owners — who demand more ease of service on their hand-held devices. Citizens Bank, for example, just launched one of the first mobile banking applications in the Northeast targeted specifically at small business owners. It allows users to manage their cash and payments, approve pending transactions, view account history and transaction details, and receive alerts and bank mail."
Mobile-banking, a springboard for new heights
"K Mahmood Sattar, chairman of the Association of Bankers Bangladesh (ABB) said the new year will see lot of positive changes in the country's banking sector with launching of mobile-based banking. 'I hope, country's banking sector will be benefitted to a large extent in the new year with our strong efforts on fortification of the theme 'financial inclusion' covering the teeming millions through mobile phones.'"
BBVA Compass Launches Native iPad Application
"BBVA Compass today announced the launch of a native iPad™ application that marks the first U.S. mobile banking application that visually goes beyond the traditional on-line banking interface of the few other iPad banking applications. The BBVA Compass Mobile Banking (PD) was released on Dec. 23, just in time for the Christmas holiday shopping season. In addition to the new iPad application, BBVA Compass also offers native mobile banking applications for Android™, BlackBerry® and iPhone™ users. Each of the applications for these mobile devices was built in house to provide greater flexibility and functionality."
RBC introduces a very robust mobile banking app for multiple platforms
"I had the opportunity to chat today with James McGuire and the folks at RBC today about their new mobile app. I had already picked up the iphone version when it was launched Friday, and today James, Eddy and Jill took us through the Blackberry version."
ING Direct's mobile banking apps help keep bank online-only
"ING Direct's mobile banking and investing system went live in July on the iPhone and other devices, and its early success has helped to reaffirm the bank's decision not to build physical banks, its CIO said recently. 'We will never build physical banks,' said ING Direct CIO Rudy Wolfs in an interview. 'Our cost advantage [without buildings] is great. We have great rates and virtually no fees.'"
Alpine Bank Deploys Diebold Mobile Banking
"Alpine Bank of Grand Junction, Colo., ($2.7 billion in assets) has deployed Diebold's MobiTransact hosted mobile banking platform. The bank says it selected the service to remain competitive with larger financial institutions and because of its flexibility, for instance in including bill payment. MobiTransact provides text and browser support to a variety of mobile devices, rivaling Alpine's competitors whose offerings are Web-only versions of mobile banking, which require an online account. With MobiTransact, Alpine Bank can provide its customers immediate access to their accounts without requiring an online banking account."
Mobile Remote Deposit Tools Set to Capture a Wider Market
"For all the hullabaloo that mobile remote deposit capture generated this year, the availability of the service has been limited to a few banks' customers. But that is expected to change in 2011 as banks seek to further differentiate their mobile and online services. In pushing mobile, banks are challenged to come up with uses that show their customers how such services are unique and whether they are safe, said Mark Schwanhausser, a senior analyst at Javelin Strategy and Research in Pleasanton, Calif."
"A growing number of Connecticut banks are adopting mobile banking applications as they compete for younger depositors and customers — especially small business owners — who demand more ease of service on their hand-held devices. Citizens Bank, for example, just launched one of the first mobile banking applications in the Northeast targeted specifically at small business owners. It allows users to manage their cash and payments, approve pending transactions, view account history and transaction details, and receive alerts and bank mail."
Mobile-banking, a springboard for new heights
"K Mahmood Sattar, chairman of the Association of Bankers Bangladesh (ABB) said the new year will see lot of positive changes in the country's banking sector with launching of mobile-based banking. 'I hope, country's banking sector will be benefitted to a large extent in the new year with our strong efforts on fortification of the theme 'financial inclusion' covering the teeming millions through mobile phones.'"
BBVA Compass Launches Native iPad Application
"BBVA Compass today announced the launch of a native iPad™ application that marks the first U.S. mobile banking application that visually goes beyond the traditional on-line banking interface of the few other iPad banking applications. The BBVA Compass Mobile Banking (PD) was released on Dec. 23, just in time for the Christmas holiday shopping season. In addition to the new iPad application, BBVA Compass also offers native mobile banking applications for Android™, BlackBerry® and iPhone™ users. Each of the applications for these mobile devices was built in house to provide greater flexibility and functionality."
RBC introduces a very robust mobile banking app for multiple platforms
"I had the opportunity to chat today with James McGuire and the folks at RBC today about their new mobile app. I had already picked up the iphone version when it was launched Friday, and today James, Eddy and Jill took us through the Blackberry version."
ING Direct's mobile banking apps help keep bank online-only
"ING Direct's mobile banking and investing system went live in July on the iPhone and other devices, and its early success has helped to reaffirm the bank's decision not to build physical banks, its CIO said recently. 'We will never build physical banks,' said ING Direct CIO Rudy Wolfs in an interview. 'Our cost advantage [without buildings] is great. We have great rates and virtually no fees.'"
Alpine Bank Deploys Diebold Mobile Banking
"Alpine Bank of Grand Junction, Colo., ($2.7 billion in assets) has deployed Diebold's MobiTransact hosted mobile banking platform. The bank says it selected the service to remain competitive with larger financial institutions and because of its flexibility, for instance in including bill payment. MobiTransact provides text and browser support to a variety of mobile devices, rivaling Alpine's competitors whose offerings are Web-only versions of mobile banking, which require an online account. With MobiTransact, Alpine Bank can provide its customers immediate access to their accounts without requiring an online banking account."
Mobile Remote Deposit Tools Set to Capture a Wider Market
"For all the hullabaloo that mobile remote deposit capture generated this year, the availability of the service has been limited to a few banks' customers. But that is expected to change in 2011 as banks seek to further differentiate their mobile and online services. In pushing mobile, banks are challenged to come up with uses that show their customers how such services are unique and whether they are safe, said Mark Schwanhausser, a senior analyst at Javelin Strategy and Research in Pleasanton, Calif."
Monday, January 3, 2011
Mobile Banking Updates - Jan 3
Top 9 Security Threats of 2011
"Mobile banking and social networks are expected to pose new security threats in the payments space in 2011. But security experts say those threats won't displace the Zeus botnet, malware attacks and phishing threats, which for years have plagued banking institutions. Fraud attempts will escalate, not diminish, as new threats and channels blossom in 2011."
The Self-Service Triple Crown: Social Media, Mobile and PFM
"One clue to where banks will be placing their Internet banking bets in 2011 can be found in Geezeo's pipes. 'We have an enormous pipeline with all of the partnerships that we have entered into,' says Shawn Ward, CEO of Geezeo, which expected about 20 credit unions and banks to sign up for its white label PFM product by the end of 2010, with an additional 200 slated to come online during 2011."
Banks, Credit Unions Rush In On Mobile Craze
"Whether a bank or credit union has $1 billion or $100 million in assets, customer expectations are all the same. What they’re looking for, increasingly, is the ability to manage their money on the go. And while the ATM was once the symbol of cutting-edge banking technology, today’s customers want to manage their transactions from their mobile phones. Just look at the numbers. More than 13 percent of households accessed their bank account via a mobile device in the second quarter, according to a report from The Nielsen Co. That’s up from 11.6 percent during the first quarter."
Mobile banking: a new way of doing business in Haiti
"Adeline Alexandre does a steady business selling Haitian staples at Fifi Boutique, a little hillside shop off a dirt street with potholes the size of bathtubs. Sardine cans, buckets of rice, jars of cooking oil and stacks of empty Coca-Cola bottles fill her shelves — along with a glaring reminder that she, like Haiti, remains in the financial dark ages. Her cash register is a splintering wooden drawer filled with crumpled bills and tarnished coins. It sits behind the counter on a gray bucket seat that had been torn from a car and dropped on the store’s concrete floor."
Rwanda processes 5,000 mobile banking transactions per day
"MTN Rwanda has reported that it was responsible for 5,000 mobile money service transactions every day through the mobile operator’s service that enable users to transfer money electronically with their mobile phones. The service dubbed 'MTN Mobile Money' was officially launched in February 2010."
Wall Street Firms Going Mobile in 2011
"There are 235 million mobile subscribers in the United States -- 49 million of whom have smartphones, according to Celent. And one out of every three U.S. smartphone owners uses mobile banking. Applications for the BlackBerry and Apple's iPhone are mushrooming. Apple's third-party applications store now offers more than 200,000 "apps" for the device. And earlier this year, the launch of the iPad, with its larger screen, triggered a new wave of excitement in the mobile space."
5 new services credit unions are offering
"A small but growing number of credit unions are jumping on the mobile-banking bandwagon, even if most consumers are not quite ready to ride with them. A June 2010 survey by the National Association of Federal Credit Unions in Arlington, Va., revealed that about 7.5 percent of its members currently offer mobile banking. According to the credit union consulting firm Callahan & Associates in Washington, D.C., 43 percent of credit unions said they planned to add a mobile-banking option in 2010, although some were holding back because of security concerns."
"Mobile banking and social networks are expected to pose new security threats in the payments space in 2011. But security experts say those threats won't displace the Zeus botnet, malware attacks and phishing threats, which for years have plagued banking institutions. Fraud attempts will escalate, not diminish, as new threats and channels blossom in 2011."
The Self-Service Triple Crown: Social Media, Mobile and PFM
"One clue to where banks will be placing their Internet banking bets in 2011 can be found in Geezeo's pipes. 'We have an enormous pipeline with all of the partnerships that we have entered into,' says Shawn Ward, CEO of Geezeo, which expected about 20 credit unions and banks to sign up for its white label PFM product by the end of 2010, with an additional 200 slated to come online during 2011."
Banks, Credit Unions Rush In On Mobile Craze
"Whether a bank or credit union has $1 billion or $100 million in assets, customer expectations are all the same. What they’re looking for, increasingly, is the ability to manage their money on the go. And while the ATM was once the symbol of cutting-edge banking technology, today’s customers want to manage their transactions from their mobile phones. Just look at the numbers. More than 13 percent of households accessed their bank account via a mobile device in the second quarter, according to a report from The Nielsen Co. That’s up from 11.6 percent during the first quarter."
Mobile banking: a new way of doing business in Haiti
"Adeline Alexandre does a steady business selling Haitian staples at Fifi Boutique, a little hillside shop off a dirt street with potholes the size of bathtubs. Sardine cans, buckets of rice, jars of cooking oil and stacks of empty Coca-Cola bottles fill her shelves — along with a glaring reminder that she, like Haiti, remains in the financial dark ages. Her cash register is a splintering wooden drawer filled with crumpled bills and tarnished coins. It sits behind the counter on a gray bucket seat that had been torn from a car and dropped on the store’s concrete floor."
Rwanda processes 5,000 mobile banking transactions per day
"MTN Rwanda has reported that it was responsible for 5,000 mobile money service transactions every day through the mobile operator’s service that enable users to transfer money electronically with their mobile phones. The service dubbed 'MTN Mobile Money' was officially launched in February 2010."
Wall Street Firms Going Mobile in 2011
"There are 235 million mobile subscribers in the United States -- 49 million of whom have smartphones, according to Celent. And one out of every three U.S. smartphone owners uses mobile banking. Applications for the BlackBerry and Apple's iPhone are mushrooming. Apple's third-party applications store now offers more than 200,000 "apps" for the device. And earlier this year, the launch of the iPad, with its larger screen, triggered a new wave of excitement in the mobile space."
5 new services credit unions are offering
"A small but growing number of credit unions are jumping on the mobile-banking bandwagon, even if most consumers are not quite ready to ride with them. A June 2010 survey by the National Association of Federal Credit Unions in Arlington, Va., revealed that about 7.5 percent of its members currently offer mobile banking. According to the credit union consulting firm Callahan & Associates in Washington, D.C., 43 percent of credit unions said they planned to add a mobile-banking option in 2010, although some were holding back because of security concerns."
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