"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, June 29, 2011

Mobile Banking Updates - Jun 29

Mobile Banking Growth Opportunity 'Substantial'
"Smartphones and tablets have already upended the consumer electronics industry (having reached near-equal penetration to e-readers and netbooks, according to Parks Associates). And they're expected to have a residual effect on the mobile banking world as well. According to a study from Chadwick Martin Bailey and iModerate Research Technologies, more than half of smartphone and tablet owners use their devices for some form of mobile banking. At the same time, the 39% of people who plan to purchase one of the devices will use it for banking."

Mobile a key factor in consumer banking: study
"Mobile banking is quickly becoming the future of banking statements, and a new study found that mobile is now a factor when consumers are choosing banks. The study, which was conducted by financial consulting and research firm Mercatus LLC, reported that consumers are now using mobile platforms as a major consideration for banking. This study aligns with recent developments in financial banking."

FNB reports soaring African m-banking uptake
"The South Africa-based outfit says it subsidiaries have experienced massive take-up of m-banking services with year-on-year growth of 376% in Zambia, 277% in Botswana, 204% in Namibia and 473% in Swaziland. Nearly two thirds of its customers in Botswana now use mobile banking, nearly half of those in Namibia and Zambia and 11% in Swaziland."

Will E-Banking Close Your Bank Branch?
"Bank branches are being shuttered across the country as more consumers switch to electronic banking, since they tend to attract an older demographic, one more used to paper checks and deposit forms. But younger consumers are increasingly edging closer to mobile and online banking, with 30- and 40-somethings trailing closely behind. A study from Boston-based industry watcher Mercatus states that mobile banking platforms are a major consideration when choosing a bank."

Smart Strategies for Dumb Phones
"Yeah, yeah. Allison Landers knows all about smartphones and how quickly they've been proliferating. As an executive in Key Bank's online and mobile services division, Landers is more than aware that iPhones, Blackberrys and Androids have been the driving force behind the faster-than-expected rate of adoption for mobile financial services these past two years.

But since launching mobile banking services in 2009, Key has not exclusively catered to this subset of tech-savvy customers. The bank doesn't even offer an iPhone application yet, keeping most of its focus on less flashy offerings: an SMS text-based service and a website designed specifically for mobile phones. This lets Key reach more customers than it could through services intended just for those with smartphones."

Will banks avoid the mistake of DIY internet banking platforms and opt for shared mobile banking?
"Everybody is looking at the cloud right now. This might be a private cloud that sits within an organisation, the public cloud which harnesses software on the web or a community cloud where companies with similar needs share software that doesn't give them any differentiation. The third option is of particular interest to me because I recent interviewed a couple of senior executives at the Society for Worldwide Interbank Financial Telecommunication (Swift). This is a messaging service currently used by over 8000 finance organisations. "

Tuesday, June 28, 2011

Mobile Banking Updates - Jun 28

U.S. Bank's Venturo: Mobile Banker of the Year
"Dominic Venturo, chief innovation officer for U.S. Bank, talks about the value of real-time text alerts to mobile banking customers, and about how his company is taking what it has learned about mobile banking and applying those lessons to its prepaid business, which late last year introduced the first mobile app of its kind."

Intuit Buys Mobile Money Ventures Platform to Bolster Mobile Banking Capabilities
"Intuit Inc. (Nasdaq:INTU) today announced it has acquired mobile Web banking technology assets from Mobile Money Ventures, or MMV, a leading global provider of next-generation mobile financial solutions. This transaction bolsters Intuit Financial Services’ position as a leading online and mobile technology provider to financial institutions. Intuit will be able to directly manage customer support and will have full control over the design of its mobile Web banking solutions. The acquired assets will also help the company bring new innovations to financial institution customers faster."

Cloud & Mobile: Vendor Weak Points
"Cloud computing and mobile banking are two vendor management program areas that have opened up a wide range of security issues, says the FDIC's Donald Saxinger. And in the wake of such high-level breaches like Citigroup and Epsilon, financial institutions need to look at their vendor programs, risk assessment plans and service level agreements carefully."

One size doesn't fit all for mobile ...
"Mobile banking is on its way and if recent developments are to go by, it is in fact fast approaching. Indeed, banks that want to keep up with the pace will need to start thinking about, if they haven’t already, which technologies they want to invest in to enable them to deliver mobile banking services. I read an article recently that featured comments from SWIFT stating the opportunity for banks to use a shared platform for mobile banking. Swift's head of innovation, Kosta Peric said that past experience in online banking where the UK banks developed in-house solutions proved that there were cost savings in sharing a mobile banking service."

Monday, June 27, 2011

Mobile Banking Updates - Jun 27

TDECU Posts 50% Growth in Mobile Banking Users in 2 Months
"Back in April, we showed you the list of the 30 most popular iPad apps from U.S. banks and other financial services companies listed on iTunes. The list featured the usual big names, but one surprise was #14, Texas Dow Employees Credit Union (TDECU), a 132,000 member, 19-branch, $1.6B credit union headquartered in Lake Jackson, TX."

Nokia Ships Phones With Banking Application in India
"Nokia has started shipping mobile phones in India that are preloaded with its banking application, in a bid to popularize mobile banking in the country. India is the first market where Nokia is preloading the Mobile Money client on its phones, a company spokeswoman said on Monday. Nokia has already teamed up with Union Bank of India, and Yes Bank, and rolled out a mobile banking service based on the Obopay mobile payment platform, on a revenue-sharing basis."

Making The Case For Mobile Banking: Five Things Banks Should Know About Mobile Banking Customers
"When Aite Group surveyed large banks and credit unions in late 2009/early 2010 about their mobile banking deployments and plans, we found that more than six in ten large banks had already implemented some level of mobile banking capability. Among credit unions, six in ten had not yet offered mobile banking to their members."

Austin Bank Maximizes Mobile Banking Availability and Continuity
"Having virtualized 95 percent of its data center in 2008, Jacksonville, Texas-based Austin Bank faced a new challenge in late 2010 when strong mobile banking adoption among its customers coincided with a merger that delivered a significant number of new customers. As online and mobile banking users skyrocketed, the bank experienced a network appliance malfunction that it was unable to resolve in production."

Thursday, June 23, 2011

Mobile Banking Updates - Jun 23

PNC takes next step in mobile banking for customers
"Imagine depositing a check into your bank account the moment you receive it? PNC Bank in late May unveiled a mobile banking feature that allows customers to conveniently deposit checks using an iPhone, iPod Touch or iPad 2. All customers need is a version of an iPhone with photographing capabilities and setting up a verification program with the bank."

Mobile Banking? Yeah. Consumers Hate It.
"Bankers love mobile banking. Consumers? Not so much. According to a recent study by the Boston branch of the Federal Reserve, over 65% of Americans use online banking websites to manage their accounts and pay bills.
But only 10% use smartphones and other mobile devices to do it. Not only that, people have been much slower to start mobile banking than they were to try banking online. For example, only three percent of survey respondents have ever made a payment using a mobile device."

10 Mistakes to Avoid in Mobile BI Delivery
"Mobile applications have gained a definitive place in enterprise adoption. The growing maturity and adoption for mobile business applications are predominantly visible with service offerings like mobile banking, mobile shopping and mobile social network connections.

The extended mobile business application for business intelligence (mobile BI) has gained momentum, with most of the BI tool vendors offering a mobile extension to the native BI suite itself. Furthermore, the variety of platform support, user-friendly devices and graphical interfaces has pushed enterprise adoption of mobile BI into the spotlight. In 2010, Gartner published a hype cycle indicating mobile BI is a climbing wave and stated that adoption will be visible in two to five years."

RBS Citizens Executive VP Jim Gifas to Speak on "Prospects for Corporate Mobile Banking" at the American Banker Mobile Banking and Emerging Applications Summit
"'Corporate mobile banking is a revolution in the making,' says Jim Gifas, Executive Vice President and Head of U.S. Global Transaction Services Solutions for RBS Citizens. 'By providing business customers with anywhere, anytime access to the financial functionality they need to run their businesses better and more efficiently, mobile banking technology is changing the way they can do business.'"

First Tennessee Rolls Out Browser-Based Mobile Banking for Businesses
"On Monday, Memphis-based First Tennessee bank ($25 billion in assets) will become one of the first regional banks to launch mobile banking services to corporate customers. “Because of the huge adoption of mobile transactions in the consumer market, and because consumers are the same people that run and own businesses, these same people who expect this in their personal life will want this flexibility in the businesses they own or participate in,” says Taylor Vaughan, director of treasury management services for First Tennessee, who spoke to us in an interview Friday. "

Wednesday, June 22, 2011

International Mobile Banking Updates - Jun 22

Online banking problems mount for Oz banks as CBA's NetBank breaks down
"The rash of online banking failures in Australia continues, as Commonwealth Bank of Australia struggles to remedy a technical error that has locked customers out of its NetBank site."

Scotiabank Wins Model Bank Award for Mobile Banking
"Scotiabank's Canadian mobile banking service has won the 2011 Celent Model Bank Award, for innovative and effective technology usage in banking. Celent is a research and consulting firm focused on the application of information technology in the global financial services industry."

Technology news: Mobile banking by MCB
"Henceforth, banking transactions can be done anywhere if someone possesses a mobile phone and is a client of the Mauritius Commercial Bank (MCB). With the launch of Internet Banking and mobile application, the client can have access to his/her banking transactions anytime, day and night."

Banking Via a Cellphone and a Shack
"Mavis Nonkongozelo walks up to the Five Sisters convenience store here, then pulls a mobile phone from her bag and a few rands from her brassiere. She is ready to bank.

With a few taps on her cellphone, the 34-year old preschool teacher connects to a nascent mobile-banking network aimed at Africa's new consumers. The saleswoman accepts a 20 rand ($2.94) bill through a barred window and then taps back on her cellphone. Soon, the money is credited to a special no-fee account at Standard Bank, South Africa's largest."

Bank of New Zealand Requires Customers to Protect Their Own Mobile Banking Accounts
"Bank of New Zealand has taken the unusual step of demanding that its customers protect their own online and mobile banking accounts by taking several precautions.

The New Zealand affiliate of National Australia Bank does provide a layer of security that not all banks do. It gives out a NetGuard card to consumers that they can use at login to authenticate themselves. The card contains a grid of numbers and letters from which they enter three values that match randomly selected co-ordinates. To business customers, BNZ gives out a NetGuard token that generates temporary passwords."

Tuesday, June 21, 2011

Mobile Banking Vendor Updates

Fiserv Touts Doubling of Mobile Money Clients
"Fiserv Inc. said Monday that it now has more than 375 financial institutions committed to its Mobile Money solution. The company said that includes nearly 200 credit unions and banks that have gone live on the service, more than twice as many as a year earlier. End-user adoption, meanwhile, has grown more than 600% in the last six months, the Brookfield, Wis., company said."

Visa makes two moves into mobile banking
"Visa announced two moves into mobile banking Thursday, buying a company that makes software for mobile banking users in Africa, Asia and the Middle East, and striking an agreement with another company that works with bank customers."

Clairmail Joins the RSA Secured® Partner Program to Provide Secure Access to Mobile Banking Offering
"The NetBank social media team on Twitter have been busy diverting bewildered customers to its mobile banking service and telephone call centres as the ongoing glitch continued overnight, disrupting the processing of transfers, bill payments and international money transfers from the bank's online site. The bank, which is in the middle of a $1.1 billion core banking system upgrade, has suffered numerous technical problems over the past year."

Mobile Check Deposit Cited as No. 1 Mobile Feature for Motivating Consumers to Switch Primary Banks, According to New Independent Research Study
"Mitek Systems, Inc. (OTC: MITK.OB; www.miteksystems.com), is citing new independent research reported by Mercatus LLC, a leading financial services strategy firm in Boston, that finds mobile check deposit ranks as the top mobile-banking feature that would prompt consumers to switch primary banks."

mFoundry Passes 400 Customer Milestone
"mFoundry, the fastest growing provider of SaaS-based mobile banking and payment solutions, today announced more than 400 U.S. financial institutions have selected mBanking, the company's flagship mobile banking and payments solution."

At Intuit, Mobile Account Access Gets a Push from Payments
"Intuit Inc. says momentum in mobile payments sparked by Google Inc. and the carrier venture Isis has boosted its own mobile banking business. The recent announcements from rivals have fueled "strong" interest in Intuit's latest mobile offerings, particularly demand for mobile account-management services among its core small and midsized bank customers, John Flora, Intuit Financial Services' group product manager, said in an interview."

Saturday, June 18, 2011

Huntington Bank Launches Mobile Apps

Jeff Dennes Kicks Off Huntington’s Mobile Roadmap with New Android and iPhone Apps
"Huntington’s ambitious plan to jump-start its mobile banking strategy moved forward this week with the introduction of new apps for the iPhone and Android operating systems.
The apps will be a baseline for future mobile development as the bank takes advantage of smartphone functionality. 'It allows us to use the native capabilities of the phones, such as Google Maps for ATM and branch locators,' says Jeff Dennes, senior vice president and chief digital officer for Huntington National Bank."

Kony Inks Deal With Huntington Bank for Mobile Portfolio Development
"Kony, the leading mobile application platform provider, today announced that it has signed a deal with Huntington Bank to help the bank create its forthcoming mobile portfolio. Kony's unique Write Once, Run Everywhere platform enables applications to be changed once for all channels, ensuring faster adoption of new operating systems and standards as they are introduced, while eliminating maintenance, upgrade and future development costs."

Thursday, June 16, 2011

Mobile Banking Updates - Jun 16

Press M for mobile banking!
"Offering access to your bank accounts at any time and at any place, mobile banking is as convenient as banking gets. Mobile banking services have long graduated from providing just alerts on your phone. From paying bills to checking credit card dues to making enquiries on your demat holdings to sending money using just mobile numbers, a lot of services are now available at the press of a button. Some banks also help you obtain income-tax certificates or get loan agreement copies, while others tempt you to shop, travel or gift your loved ones through services such as ngpay or mshop which gives access to hundreds of merchants from your mobile phone. So how do you make a start?" >> Continue Reading

Wednesday, June 15, 2011

Mobile Banking Updates - Jun 15

Bank of America revamps its mobile banking app with latest update
"Bank of America has updated its Android mobile banking app to version 3.1.120 with a completely revamped appearance and user interface. Anyone who thought the previous versions were a little heavy on the “blah” should be pleasantly surprised to find a more user-friendly experience with a clean, polished finish that's sure to please even the pickiest mobile bankers. "

Wells Fargo Leads in Business Mobile Banking
"The banking industry often is accused of dragging its feet on corporate mobile banking. 'While the potential of the consumer mobile banking market is certainly attractive, little emphasis is being placed on the corporate or small-business markets,' Celent senior analyst Jacob Jegher wrote in a blog post in July. 'This is quite surprising given the penetration of mobile devices in the business world.'"

Standard Chartered makes mobile banking a Breeze
"The Bank’s first mobile banking application to view, move and manage finances anytime, anywhere. Standard Chartered Bank, India’s largest international bank, today announced the launch of an innovative mobile banking application in India, called Standard Chartered Breeze. The product gives customers greater ease of use and a higher degree of convenience, through an intuitive and design rich interface."

Star One CU Selects Tyfone for Mobile
"Star One Credit Union chose Tyfone Inc. for mobile banking services partly because of its near-field communication contactless payment capabilities, the $5.6 billion credit union said Tuesday.

Star One, of Sunnyvale, Calif., said it signed an agreement with Tyfone, of Portland, Ore., for mobile banking technology. Because Tyfone's systems are integrated with the vendor Fiserv Inc.'s XP2 core banking system, which Star One uses, Star One's mobile customers will get faster access to data."

Sunday, June 12, 2011

Mobile Banking Updates - Jun 12

38% Of US Banking Customers Are Online-Oriented and 18% Are Mobile-Enabled, According to New Research Report from Novarica
"'With certain online banking interactions up over 25% over the last five years and mobile interactions gaining ground quickly (albeit from a smaller base), banks must look to streamline the consumer experience across all bank channels,' said Madhavi (Madi) Mantha, head of banking research at Novarica and co-author of the report with Novantas partner Kevin Travis and principal Ethan Teas. 'Banks can no longer afford to view digital channels as alternate channels – they must be treated as a primary destination.'"

Charles Schwab (Ask Chuck!) Mobile Banking App Now Available
"Charles Schwab has been winning over the hearts of many investors and savers lately, and now Chuck has gotten himself a good ol’ Android application. It doesn’t look half bad, either. Take a look at this short list of features waiting for you upon downloading the app and signing in:
* Manage your investments with the ability to view current positions and transfer money between accounts.
* Keep an eye on market news and real time quotes.
* Easily trade stocks, mutual funds, ETFs and more."

Report: One in four are ready for advanced mobile banking
"Recent research from Javelin Strategy & Research found that one in every four consumers is interested in advanced mobile banking technology that allows checks to be deposited with the use of cell phone cameras."

Tuesday, June 7, 2011

Mobile Banking Updates - Jun 7

Clairmail Appoints New Executive Leadership
"Clairmail, Inc., the leader in mobile banking and payment solutions, recently named Steve Anderson as its new Chief Financial Officer (CFO) and Gordon Simpson as its new Chief Technology Officer (CTO). The new executives come to Clairmail with extensive experience and will aid in the continued growth and success of the company."

Monitise makes smart mobile banking moves in India
"Monitise is a company that lives up to its name. It’s an enabler of mobile money services – whether you’re a bank, mobile operator or other financial services provider, Monitise can allow you to offer advanced mobile banking, payment and money products. And now it has announced a major app launch in the virile Indian market."

Sunday, June 5, 2011

Mobile Banking Updates - Jun 5

Huntington Closer to Mobile Update

Checking getting more expensive at Bank of America
"Bank of America says its fee increase reflects the greater services it is providing, such as spending alerts and mobile banking. But the move is also in line with the industry's pullback on free checking. The availability of free checking accounts with no strings attached shrank last year for the first time since 2003. Only 65 percent of checking accounts were free, down from 76 percent in 2009, according to Bankrate.com."

Study: Mobile Banking Not Just for the Affluent
"Mobile banking users are not necessarily more affluent than nonmobile bankers, according to Boston-based research firm Aite Group, and credit unions should invest in debit cards, prepaid cards and merchant-funded awards to attract new members."

Branch-Building Spree Is Customer-Driven, JPMorgan Chase's Scharf Says
"With mobile banking, JPMorgan Chase & Co. is making it easier for customers to avoid visiting branches. Then why is the New York banking giant opening so many new ones while other banks are closing theirs? Rivals and branch consultants have been pondering the question since JPMorgan Chase said in February that it plans to open 1,500 to 2,000 branches over the next five years, mostly in California and Florida."

Wednesday, June 1, 2011

Mobile Banking Updates - Jun 1

Look to Mobile Banking for Lessons on Mobile Payments
"Just a few short years ago debate swirled over which of the three primary mobile banking access modes – SMS (text messaging), mobile browser or downloadable application – would emerge as “the winner.”

Many early mobile banking implementations focused only on one access mode, often a downloadable application for smartphone users. This limited approach prevented credit unions from capitalizing on the full potential of the mobile channel, as it narrowed not only the field of possible mobile banking users, but also the availability of features and functionality."

How to Build a Bionic Mobile App
"To paraphrase the opening lines of the iconic 1970's TV show that made Lee Majors a star: We can build it. We have the technology. We have the capability to make the world's first bionic app.

In "The Six Million Dollar Man," scientists took a broken human, added bionic parts and rebuilt him -- better, stronger, faster. As far as banks are concerned, they now have the technology to take complex account functions and make them better, stronger and faster within the context of the mobile platform. In other words, we have the technology."

6 Ways to Secure Mobile Apps
"While mobile banking applications are becoming the wave of the future, if not constructed securely, they could allow hackers to hijack your customers' accounts. But that doesn't mean you should forego mobile banking.

When designing a mobile banking application, not only do the developers need to consider the application's functionality and usability, but they must consider the security of the application. Essentially, today's smartphone is just a small computer. Thus, as more and more consumers adopt mobile banking, the hackers will target the mobile device. There are six security best practices that banks should follow when developing mobile applications:"