Mobile Banking Updates - Feb 6

Mobile RDC First, Then Banking
"Mobile tech firm mFoundry’s looking to tap a niche’s niche—banks that are warming up to mobile financial services by offering remote deposit capture first, then rolling out full-fledged mobile banking later—by developing a new standalone mobile deposit solution that can seamlessly convert to full mobile. The product is aimed at banks that don’t have a mobile banking offering, enabling consumers to deposit checks via handsets. This app is pre-integrated with mobile banking capabilities, which can be rolled into the RDC app when the bank’s ready."

Mobile banking is primary channel for 13%
"Mobile banking is becoming the primary channel for interacting with the bank for a growing number of users. In May 2010 USAA reported that 38% of their mobile banking users considered mobile to be their primary interface with the bank. Now research firm Novarica has found that 13% of smartphone users consider mobile their primary means to check balances."

Forrester: Banks Must Innovate for Mobile Banking Growth to Continue
"Since 2007, mobile banking has more than doubled in use. According to analyst firm Forrester, this trend will continue, with usage again doubling by 2015, but analyst Emmet Higdon says that a few changes and realizations need to be made for mobile banking to really catch on.

According to Higdon, mobile banking lacks 'any clear differentiated functionality' and 'appeals most strongly to those consumers already inclined to use the mobile channel.' To really gain adoption, says Higdon, 'U.S. banks will need to enhance today's functionality significantly.'"

Finovate so far: the big themes in banking
"Some of the best minds in business are gathered at the London Business Design Centre today to witness cutting-edge financial and banking technology innovations at Finovate 2011. Chris Skinner kicked off the show by talking about what he sees as the top themes in innovation and the things he believes are having the biggest impact on banking."

Heartland Bank Launches iPhone App!
"G. Scott McComb, President and CEO of Heartland Bank is pleased to announce the launch of the iPhone App with Heartland Bank's Mobile Banking. Heartland Bank online banking customers can access their account information via SMS Texting, Web Browsing, or with the Heartland Mobile Banking App from the Apple Store!"

Comerica Unveils Mobile Banking Apps
"Comerica launched a Mobile Banking downloadable application (app) for the iPhone in the Apple App Store, and a downloadable app for the BlackBerry is also available. The downloadable apps for Comerica Mobile Banking allow customers to use their smart phones to securely view balances, check recent account activity, perform funds transfers, pay bills, and locate Comerica ATMs and banking centers, the Company said."

Banks Have Yet to Create the Killer App for Mobile Banking
"Although the use of mobile banking has grown from 5% of the U.S. online population in 2007 to 12% in the second quarter of 2010, according to a report released this week by Forrester senior analyst Emmett Higdon, such that 10 million Americans engage in mobile banking today, banks have yet to create the kind of 'killer app' that will make mobile banking truly appealing to bank customers."