Mobile Banking Updates - Apr 26

Financial institutions must address security concerns in mobile banking and payments
"With smartphones and tablets becoming increasingly important to consumers, financial institutions must get serious about security as mobile banking and payments explode. Security factors that financial institutions must take into account include mobile malware, mobile software/app assurance, application and OS trust management, data protection, identity and access management, according to IDC Financial Insights. Tactics banks should consider include mutual authentication approaches that incorporate multi-factor, multi-layered security techniques, for example, online banking transaction confirmations via SMS or call back."

Heartland Bank's Mobile Banking NOW Available at The Market Place for Android!
"Heartland Bank is pleased to announce the Android App is now available in The Marketplace for Android users. Online banking customers can access their account information via SMS Texting, Web Browsing, or if you own an Android cell phone, you can visit the Android Market and search for "Heartland" or "Heartland Bank" to locate and install our mobile app. There is no charge for this application which is very similar to the iPhone app that was released a few months ago."

Mobile Banking Becoming an E-Commerce Staple
"Mobile banking, m-banking, or SMS banking refers to online banking that occurs via mobile phone or PDA rather than a PC. The earliest mobile banking services were offered over SMS, but with the introduction of smartphones and Apple iOS, mobile banking is being offered primarily through applications as opposed to text messages or a mobile browser."

Mobile banking thru Smart Money hits P13.5B in 2010
"Smart Money has facilitated P13.5 billion worth of transactions last year within remote communities that used to have limited or no access to financial services. It is an electronic money (e-money) platform utilizing mobile phone technology. It is a product of Smart Communications Inc. Smart Financial Services senior manager Maybelle Santos said Smart Money provides Filipinos anywhere in the archipelago with simple, secure, affordable and convenient means to send and receive cash, even without the presence of banks and ATMs in their communities."