"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" 

Wednesday, March 30, 2011

Mobile Banking Vendor Updates - Mar 30

Visa Debit Card – Convenient Domestic And Int’l Person-To-Person Payments Launched
"CashEdge Inc. the leading provider of Intelligent Money Movement® services, and Visa Inc. (NYSE: V), the world’s largest retail electronic payments network, today announced an agreement that will enable U.S. consumers to use their eligible Visa credit, debit and prepaid accounts to send and receive person-to-person (P2P) payments domestically and internationally through Popmoney®, CashEdge’s P2P email and mobile payments service. This capability, which will enable consumers to use Popmoney for transactions such as international remittance and funding prepaid cards, will be available in summer 2011."

Fiserv Named “Best Electronic Commerce Provider” by Global Finance Magazine
"Fiserv, Inc., the leading global provider of financial services technology solutions, announced today that it has been named “Best Electronic Commerce Provider” by Global Finance magazine. This is the fourth year in a row that the company has been honored by the publication."

Nokia Extends Mobile Money Service to Union Bank in India
"Nokia Oyj (NOK1V), the world’s biggest maker of mobile phones, has started supplying mobile banking services for a Union Bank of India offering aimed at phone customers who don’t have bank accounts. The Union Bank Money Powered by Nokia service is available in Gurgaon and will be released nationwide over the next few months, the Mumbai-based bank said in a statement."

Tuesday, March 29, 2011

Mobile Banking International Updates - Mar 29

Commercial Bank of Qatar launches comprehensive mobile banking, payment services
"Commercial Bank of Qatar, the largest private-sector bank in Qatar, has launched comprehensive mobile banking and mobile payments services for its retail customers. The financial institution tapped Sybase Inc.’s Sybase 365, a specialist in mobile messaging and mobile commerce services, to power the mobile platforms. The new, free downloadable mobile banking applications provide customers with instant and secure connectivity to accounts anywhere, anytime, and complement Commercial Bank’s Internet banking service."

Brits not keen on mobile banking
"The UK is lagging behind in the world when it comes to mobile banking, according to market analysts Datamonitor. While consumers in Africa, Asia, India and Russia have access to advanced mobile banking services, most UK customers have access only to text-based functions, it found."

Mobile Cyber Security In India
"Mobile phone has become an important aspect of our daily lives. We use mobile phone for multi purposes including mobile banking and mobile governance. With the use of third generation spectrum, even better, speedier and more productive use of mobile phones is now possible. However, of all the benefits of use of mobile, we cannot ignore the risks associated with it. For instance, the mobile banking in India is risky as the present banking and other technology related legal frameworks are not conducive for mobile banking in India."

South Africa-based MTN launches life insurance program via mobile banking in Ghana
"A South African mobile phone giant has joined with an insurance company to launch a program in Ghana that will allow subscribers to pay for life insurance through their mobile phones, a company official said Wednesday. Phone banking has taken off in Africa, where the impoverished majority can't afford the costs of traditional banks, including account fees and bus fares to get to town from villages to visit the banks."

Monitise launches trial mobile payments service in Nigeria
"Monitise, a mobile banking service provider has launched a trial mobile payments service in Nigeria. The service is tested in four cities and 11 rural locations across four states under a Central Bank of Nigeria (CBN) provisional licence."

Monday, March 28, 2011

Mobile Banking Updates - Mar 28

Banks target Mobile Banking for their next round of Fees
"The reason people use their smartphone to access mobile banking on a regular basis is simple – convenience. Who wouldn’t love the ability to complete banking tasks from anywhere? Financial institutions see it as a way to cut costs, grow customer relationships, and now possibly introduce new fees. Though still in its infancy, banks have already played with the idea of applying fees to mobile banking. The first feature on their list, mobile deposits. A feature that allows users to snap a photo of a check and remotely deposit the amount into their accounts. Once verified, the user has the option to dispose of the physical check"

American banks need mobile to attract Gen Y - Javelin
"With Gen Y (12-32 year olds) set to earn more than any other generation within 10 years, banks need to tap technology to attract them, offering services such as mobile, personal finance management and person-to-person payments, says Javelin. About 28% of Gen Y consumers have used mobile banking in the past 90 days, compared with 18% of all people. Not only do they use it, young people switch banks for it, use it frequently, and value it."

PayPal mobile transactions exceed $6M per day: CTIA keynote
"A PayPal executive said that mobile payments are growing exponentially and provided his own company’s figures as proof during the keynote at International CTIA Wireless 2011′s Money Over Mobile pre-conference program. PayPal’s mobile payment transaction volume has grown from $24 million in 2008 to $140 million in 2009 to $750 million last year. It is projected to top $2 billion this year and is expected to reach $7.5 billion in 2013."

Swiping Is the Easy Part
"The cellphone has been more than a cellphone for years, but soon it could take on an entirely new role — standing in for all of the credit and debit cards crammed into wallets. There’s just one hitch: While the technology is already being installed in millions of phones — and is used overseas — wide adoption of the so-called mobile wallets is being slowed by a major behind-the-scenes battle among corporate giants."

Sunday, March 27, 2011

Mobile Banking Updates - Mar 27

Number of U.S. Mobile Banking Users Surges 54% to 30 Million
"comScore yesterday released a report finding that in the fourth quarter of 2010, 29.8 million Americans accessed financial services accounts (bank, credit card or brokerage) via their mobile device, an increase of 54% from Q4 2009. However, the report also found that nearly half of these mobile banking users still prefer to bank online, at a fixed computer. The takeaway, in my view: consumers want it all -- the convenience of banking on their smartphone when they're out and about, the comfort of being able to handle more complex banking transactions at a home or office PC. Banks can't focus on one channel at the expense of another."

Mobile banking to take off - if the user experience is right
"Sebastien Slim points out in his blog post (Generating loyal customers through mobile banking, 14 March 2011) that analyst research shows that banks are starting to take notice of mobile banking, stating that they can no longer afford to put off the adoption of this hugely important channel. But he also notes that banks still have a great deal of work to do if they are to make their mobile banking proposition more appealing."

Video: Visa’s microSD NFC Tech Lets You Pay With Your Smart Phone
"There’s lots of buzz these days about mobile payment systems, which is the ability to use your smart phone as a virtual wallet. It may seem a far-off prospect but banking services giant Visa believes it has a compelling mobile banking solution. Here at CTIA 2011, we were able to get a quick demo of how it might work."

U.S. Bank AccelaPay Mobile Banking Named Best in Category for Virtual or Mobile Prepaid Application at 2011 Paybefore Awards
"The U.S. Bank AccelaPay mobile banking application has been honored as the “Best in Category for Virtual or Mobile Prepaid Application” at the 2011 Paybefore Awards. The Paybefore Awards recognize the best products and programs in the prepaid business. Paybefore, a leading publisher of information for the prepaid industry, organizes the annual awards, which are now in their fifth year."

Remote deposit capture is tipping point to mobile banking profitability: panelist
"While mobile banking tends to be a consumer engagement tool, new features such as remote deposit capture provide financial institutions with the opportunity to generate profits, according to a panel at CTIA Wireless 2011.

The panel was moderated by Sylvain Maquet, partner at Greenwich Consulting, New York. He estimated that there are currently 10 million people using mobile banking in the United States, with Bank of America reporting 3.5 million mobile banking users nationwide, but the panelists all agreed that figure is set to explode."

Wednesday, March 23, 2011

Mobile Banking Updates - Mar 23

CashEdge and Visa to Expand Network Offerings
"CashEdge Inc. (www.cashedge.com), the leading provider of Intelligent Money Movement® services, and Visa Inc. (NYSE: V), the world's largest retail electronic payments network, today announced an agreement that will enable U.S. consumers to use their eligible Visa credit, debit and prepaid accounts to send and receive person-to-person (P2P) payments domestically and internationally through Popmoney®, CashEdge's P2P email and mobile payments service. This capability, which will enable consumers to use Popmoney for transactions such as international remittance and funding prepaid cards, will be available in summer 2011."

Nokia Ties With Indian Bank for Mobile Payments
"Nokia has tied with Union Bank of India to roll out mobile payment services that are targeted at the large number of Indians who do not have banking facilities. The service will enable consumers to transfer money to other persons, withdraw cash at automated teller machines (ATMs) and designated retail stores, and pay utility bills as well as recharge pre-paid mobile connections, Nokia said on Friday."

Research and Markets: Australia - E-Commerce, Marketing and Advertising 2011
"This annual publication offers a wealth of information on the trends and developments taking place in the m-commerce and e-commerce sectors. The publication analyses the issues surrounding the growth of e-commerce, including e-banking, e-payments and online advertising. Developments are currently being driven by the emerging NBN and by the explosion in mobile broadband access. Many organisations have announced plans for participation in these opportunities. Information on mobile commerce developments is also given, including m-payments and m-banking, plus statistics and forecasts for both the e-commerce and m-commerce sectors."

Tuesday, March 22, 2011

Mobile Banking Updates - Mar 22

Microsoft Needs Mobile Money
"There are a lot of ways to make money off the shift to mobile computing. Some companies have found several ways to profit from mobile, but Microsoft in particular seems to be in a tough spot due to its late start in mobile, a very small market share, lack of leverage with the all-powerful carriers, and a revenue model based on licensing the operating system."

Why PayPal Doesn't Care About NFC
"You'd think that wave-and-pay smartphone technology would be top priority for PayPal, one of the biggest competitors in the mobile payments space. But while big retailers love NFC for its hyper-targeted marketing potential, small businesses that run on payment services like PayPal may actually be interested in mobile payments for something far humbler: customer loyalty."

Monday, March 21, 2011

Mobile Banking Updates - Mar 21

Mobile banking opportunities in Africa
"Mobile-savvy consumers want to do more for their phones and this presents opportunities for Africa's banks and their merchant partners. Mobile phone penetration in Africa has exploded since 2000, as it has elsewhere in the developing world. In 1998 there were fewer than two million mobile phone users in Africa, according to the African Development Bank. The number grew to over 400 million in 2009.

Banks and other providers now recognise the potential of reaching millions of prospective customers, especially the rural population who account for more than 60% of Africa's total population and have no access to banking services. At BuzzCity, we've noticed an increasing number of banks and financial institutions using mobile advertising to share information and promote services. As financial institutions embrace mobile as a distinct channel - not just a supplement to PC banking - their number-one challenge is the same as they faced when first rolling out online banking: consumer confidence. "

3 Must-Have Features in a Mobile App
"When it comes to mobile banking, a bank can deploy a relatively simple downloadable app and satisfy customer needs at the same time. Which is probably why two of the top three functions banks are asking California-based mobile banking and payment provider mFoundry are as fundamental as the ability to check account balances and move money.
So what three mobile app features are hottest among banks right now? According to Drew Sievers, CEO and cofounder of mFoundry they are:
* Account management
* Mobile remote deposit capture
* Account transfers or bill pay

It makes sense. Until someone figures out how to dispense cash from a mobile phone, those three things will take care of the big stuff. In the meantime, using geolocation baked into a smartphone app to find the nearest branch or cash machine remains a viable option."

Sunday, March 20, 2011

Mobile Banking Updates - Mar 20

Consumer Reports: Dial up your pocket ATM
"The cellphone and banking industries have conspired to cook up yet another high-tech task for all of us to learn: mobile banking. And according to Consumer Reports Money Adviser, it's catching on fast: Some 39 million Americans are already accessing their bank accounts through their cellphones. The good news is that it's a lot simpler and, with the proper precautions, safer than it might appear to be at first."

The Money Manager in Your Pocket
"As consumers manage more of their lives via smartphones and iPads, financial service companies are trying to ensure they don't get lost in the electronic shuffle. "The industry right now is app crazy," says James McGovern, vice-president for consulting services at Corporate Insight, a firm that monitors the ways financial companies communicate with customers. "We're just going where the customers are," says Christopher Larkin, E*Trade Financial's (ETFC) senior vice-president for active trading. Bank of America's (BAC) online brokerage, Merrill Edge, is even exploring the idea of face-to-face teleconferencing between clients and advisers through the mobile apps it unveiled on Mar. 9, says Alok Prasad, the division's head."

Making Sense Of Mobile
"Will the rapid adoption of smart phone technology assure the success of mobile banking? Is mobile banking just an extension of the Internet, or does it offer entirely new venues to interact with banking customers and generate revenues?"

Wednesday, March 16, 2011

Mobile Banking Updates - Mar 16

The Rise of Mobile Banking
Bank of America's Mike Upton explains on-the-go financial services.

Regions Widens Mobile Banking Menu
"Regions Financial Corp. has updated its mobile banking capabilities to allow customers to transfer funds among internal accounts, pay bills and receive text alerts about balances and other details. The Birmingham, Ala., banking company said Wednesday that its online banking customers can use text banking as well as visit its mobile website, m.regions.com, or download an application for Apple Inc.'s iPhone."

Generating loyal customers through mobile banking
"Banks are now sitting up and taking notice of mobile banking - with an abundance of analyst reports in its favour, banks can no longer afford to put off the adoption of this channel. According to research from TowerGroup and Accenture published in early February, the introduction of mobile banking services can achieve an ROI of up to 300 percent for retail banks. This, coupled with Juniper Research's statistic that 400 million people worldwide will be engaged in mobile banking by 2013, makes for a compelling case for banks to invest in mobile."

Tuesday, March 15, 2011

Mobile Banking Updates - Mar 15

US Bank enhances mobile banking service
"US Bank, a subsidiary of US Bancorp, has enhanced its mobile banking service by adding new features to allow customers to deposit checks and monitor credit card activity through their mobile devices. Through newly added Deposit Point Mobile feature, customers can capture a photo of the front and back of the check, enter the dollar amount of the deposit, select the checking or savings account into which the money should be deposited and validate the information that was submitted."

Mass-market adoption of mobile payments still 2-3 years away: MoreMagic exec
"The top executive at MoreMagic Solutions, a global mobile commerce and financial services provider, said that mobile payments have made great strides but that the industry is still two or three years away from mass-market adoption. Nokia Siemens Networks and MoreMagic Solutions recently announced a global partnership to provide mobile commerce and financial services to wireless carriers and other clients."

Jack Henry & Associates Announces 350th Mobile Banking Customer
"Jack Henry & Associates, Inc. (Nasdaq: JKHY), a leading provider of computer systems and electronic payment solutions primarily for financial services organizations, today announced that goDough, its state-of-the-art mobile banking solution, has now been selected by 350 of its core financial institution clients. goDough was introduced in November 2007 and now supports subscribers to 73 mobile service carriers."

Sunday, March 13, 2011

P2P Mobile Money

CashEdge Signs Deal With Huntington to Provide Popmoney® P2P Email and Mobile Payments to its Customers
"CashEdge, Inc., the leading provider of Intelligent Money Movement® services, announced today that it has signed a deal with The Huntington National Bank, one of the largest banks in the Midwest, to provide Popmoney®, CashEdge's person-to-person email and mobile payments service, to its customers. The service will be offered online through Huntington Online Banking and through Huntington Mobile Banking later in the year."

Western Union, Seven Bank to Introduce International Money Transfers in Japan via Electronic Channels
"The Western Union Company (NYSE: WU), a leader in global payments, announced today that it will launch international money-transfer services in Japan with Seven Bank. Once launched, the service will enable registered Seven Bank customers to send money online via their bank accounts, mobile banking, and, this summer, via 15,000 ATM machines throughout Japan. This will mark the first time Western Union® services are available via ATM in the Asia-Pacific region."

Wednesday, March 9, 2011

Mobile Banking Updates - Mar 9

Consumers Continue Switch to Online Banking
"Although the mobile banking channel is gaining popularity, it was deemed the least trustworthy. Only about 25% of US consumers and 22% in Canada said they trusted the security of mobile transactions. These concerns limited mobile banking adoption, with less than 2% of North American bank customers using mobile phones as a primary channel to conduct routine banking activities."

Cell Me the Money: Unlocking the Value in the Mobile Payment Ecosystem
"A new Deloitte Research study, Cell me the money: Unlocking the value in the mobile payment ecosystem, examines the challenges and benefits of mobile commerce in the United States."

Investing in Mobile
"'Mobile and banking fit together like chocolate and peanut butter,' says Jim Pitts, project manager of the Financial Services Technology Consortium, the technology solutions division within The Financial Services Roundtable. In 2011, mobile will be the focus, but that focus won't hinder investments in cross-channel integration. In fact, Pitts says mobile innovations will serve as catalysts for infrastructure changes -- changes that lead to more integrated channels across the enterprise."

An Extensive Guide to Mobile Finance: Banking Apps
"As part of a 3-part series MyBankTracker brings you an overview of various mobile apps that help to improve banking, credit card management and personal finance. The growing trend of mobile finance has led to the emergence of loads of brand new technology, which we have covered extensively over the past few months. Here is a guide through some of the important apps to help optimize your banking."

PBS: Mobile Banking Could Be Global Health Tool
"In countries where access to traditional banking services is limited, more and more people are utilizing cell phones to send money to family members, pay bills or keep track of savings. Leading the mobile finance charge is Kenya's M-Pesa system, the largest mobile phone banking platform in the world. It has exploded in popularity over the last decade and now serves more than 13 million active customers. With mobile banking systems on the rise, health experts are hoping to capitalize on the budding technology to make health services more accessible as well."

FSCC and CU Wireless Make Text Banking Affordable for All
"FSCC (Financial Service Centers Cooperative, Inc.), the nation's largest and most convenient shared branching network with over 6,500 network locations, along with CU Wireless, a credit union service organization of MaPS Credit Union based in Salem, OR, announced today the release of MyCUAnywhere, offering mobile text banking capability to members of all CU Service Centers affiliated credit unions. The latest in the family line of MyCU services, MyCUAnywhere uses secure, SMS/text banking technology to access account information including balances, transaction history, loan status and funds transfer."

Monday, March 7, 2011

Mobile Banking Updates - Mar 7

There's No Money in Mobile Banking
"First, read my thumbs. I don't text; I don't own an i-anything; nothing's attached to my ears; both hands are on the steering wheel; my cell phone still works for away-from-office calls; my laptop does everything I need to do; I don't need to be a mobile banking user; and most of all, I am one very happy camper. But I certainly don't represent the mainstream of bank user population."

Analyst: Banks Most Comfortable On iPhone
"Over the last year, Android has come to rival the market share of Apple's iOS operating system. But when it comes to offering financial services on mobile phones, banks have favored the iPhone over Android and other smartphone platforms. That's the view of Gartner analyst Avivah Litan, who focuses on financial fraud and authentication at the research firm."

Fifth Third Bank enhances mobile banking features to on-the-go consumers
"Fifth Third Bank is enhancing its mobile banking experience by providing customers with better access to their accounts, bill-paying capabilities and real-time personalized text alerts. The company partnered with ClairMail to use its mobile banking technology. Using the new technology, Fifth Third Bank will be able to connect to multiple financial systems and future-proof their mobile powered offerings."

Kenya: Mobile Banking And Security Risks
"Nairobi — Looking back, a prolific chief executive once mentioned that Kenyans have peculiar habits and second to their peculiar calling habits is the love of their cellphone handsets. The astute CEO read the Kenyan environment well and built a multi award winning innovation around this peculiar habit."

Sunday, March 6, 2011

Mobile Banking Vendor Updates - Mar 6

Fiserv Acquires M-Com to Enhance Mobile Banking and Payments Capabilities
"Fiserv, Inc., the leading global provider of financial services technology solutions, today announced that it has acquired Mobile Commerce Ltd. (M-Com), an international mobile banking and payments provider, to enhance Fiserv's existing mobile channel capabilities. The two companies have been partners since 2008, developing and delivering Mobile Money™ from Fiserv to hundreds of financial institutions. Financial terms of the acquisition were not disclosed."

Texas banks launch mobile banking offering with First Data
"After a successful pilot period, two Texas banks have launched First Data’s Mobile Manager mobile banking service to offer customers greater flexibility and on-the-go access to their financial information. The service can be easily integrated into banks’ current online platforms, and provides an alternative to creating the mobile banking system in-house. It includes SMS, mobile Web and downloadable applications."

Mitek Systems Unveils Another New Consumer Application That Enhances Consumer Convenience in Mobile Payments
"Continuing to expand consumer options for convenience in mobile banking, Mitek Systems Inc. today rolled out another innovative application for mobile payments companies which offers consumers the most convenient way to enroll their checking accounts."

Sutherland and Tyfone Partner to Accelerate Adoption of Mobile Financial Services
"Sutherland Global Services (www.sutherlandglobal.com), a leading provider of technology-enabled Business Process Outsourcing (BPO) services, announced a partnership with Tyfone (www.Tyfone.com), a global provider of unified mobile secure transaction infrastructure for mobile banking, mobile identity management and mobile contactless NFC payments."

Clickatell Engages Customers with SMS; Secures Funding for Mobile Banking
"From making donations to launching alerts about local emergencies, text messaging has far exceeded its original purpose of communicating with friends. Yet, harnessing the power of SMS technologies is not always easy or affordable for small businesses that may want to communicate en masse with its constituencies. Until now. Clickatell, a South African-based online SMS mobile messaging gateway provider, has launched a US small business SMS messaging package aimed at providing an accessible way to interact with and help customers via simple text messages."

CoCoNet unveils mobile banking app for corporate customers
"The new e-banking app is available for various smart phones and tablet PCs such as Apple iPhone, iPad, BlackBerry, and Android devices. The European multi-bank communications standard EBICS allows companies to connect to all their bank accounts at the highest level of service quality and security. Besides the well established channels through fat-clients and high sophisticated internet portals like MULTIVERSA IFP International Finance Portal users of corporate customers increasingly demand for mobile capabilities."

Tuesday, March 1, 2011

Mobile Payment Updates - Mar 1

"A new Visa person-to-person payments service will transform how Visa cards are used – from being not only the best way to pay, but also the best way to receive payments quickly. The result of a major enhancement to the Visa network, the new service enables consumers to send funds to Visa card accounts within minutes both domestically and internationally. It is available to participating Visa clients and their customers in markets across Asia Pacific, Central and Eastern Europe, Middle East and Africa."

FICO Offers Telrock Mobile Payment Apps to Help Clients Improve Customer Service and Payments
"FICO, the leading provider of analytics and decision management technology, and London-based Telrock Communications Ltd., developer of mobile applications for banking, payments and debt management, today announced an agreement under which FICO will resell Telrock’s interactive text and smartphone applications around the world. Telrock applications give FICO clients a new, fully secure mobile channel for communicating with customers, improving customer service and collecting payments."

Mobile Payments Challenge Credit Cards
"Over the past decade, Americans have been writing fewer checks and using more and more plastic. But now, some are predicting the demise of the credit card, paying by smartphone could elbow out giants such as Visa and MasterCard."

Video Interview: Boku’s Ron Hirson Describes Their Mobile Payments Service
"Mobile Payments were a hot topic at this year’s Mobile World Congress. I mean HOT (well, if your into that kind of thing of course). Based on what I saw at the event though, there are a lot of people into that kind of thing. In fact, they had an entire day dedicated to the concept. Panels and speakers talking shop, standing room only crowds, hundreds and hundreds of suits – any payments nerd or finance freak’s paradise. Let’s be honest that sometimes conference panels can be dry and boring, especially those describing financial networks, but I have to say these were quite interesting. There are a lot of good ideas floating around out there and the competition is going to get intense."

Mobile phone e-wallets get closer to reality
"Later this year you'll be able to pay for clothes, taxi fare, and dinner with your mobile phone and leave your credit cards and cash at home. Visa is planning a commercial rollout in the U.S. in the second half of this year of a service for allowing allow people to turn their existing smartphones into electronic wallets. It uses Near Field Communication (NFC) short-range wireless technology and includes real-time anti-fraud alerts and other features designed to protect consumers from fraud, Bill Gajda, global head of Visa Mobile, told CNET in an interview at Mobile World Congress 2011 here this week. Visa was demonstrating its PayWave mobile payment system at the show."