Mobile Banking Updates - July 18

Banks ramping up use of mobile technology
"It looks like 2011 will bring a significant increase in the number of Connecticut banks offering mobile banking technology. The Connecticut Department of Banking recently released results from a 2010 survey of electronic banking activities in the state, which showed that less than 20 percent of state-chartered banks offered mobile banking at the end of last year."

Citigroup Hires Samsung’s Omar Khan for Mobile-Banking Position
"Citigroup Inc. (C), the third-largest U.S. bank by assets, hired Samsung Electronics Co. executive Omar Khan as global head of mobile technology. Khan joined Citigroup today and will report to Mark Torkos, chief information officer for global consumer technology, Janis Tarter, a spokeswoman for the New York-based bank, said in an e- mailed statement. Khan was chief strategy officer with Samsung’s U.S. mobile-devices unit."

Banks speed adoption of mobile banking apps
"Forget waiting in line at the ATM or filling out deposit slips at a bank counter. Instead, pull out a smartphone and check your balance online, transfer funds or deposit a check. Many banks and credit unions nowadays have an app for those type of transactions and more banks are increasing mobile banking options to meet evolving customer needs."

St George To Ramp Up Spending On Mobile Banking Applications
"Westpac subsidiary St George says it anticipates roughly 50 per cent of all customer transactions online to be undertaken by smartphones over the next 12 to 18 months, and in response, the lender is ramping up spending on its online mobile offering by tens of millions of dollars as it seeks to cater for the burgeoning Gen Y client base. Currently the volume of smartphone transactions have doubled over the last eight month and now equal the volume of transactions undertaken at 85 physical branches."

Banks get smart on mobile apps
"IT has been a long time coming, but Australia's banks have realised they must offer better native mobile apps to snare cashed-up and online-savvy Generation-X and Y customers. And we mean real native apps, not repackaged versions of those often clunky web-based mobile banking URLs that are somewhat 2009.

The meteoric success of National Australia Bank's break-up advertising campaign, measured by more than 225,000 new customers and an extra 1 per cent of the mortgage market, has underlined how fundamental the online world is for snaring new customers."

U.S. Bank and Monitise Americas Introduce Free Mobile Banking Service for ReliaCard(R) Visa Cardholders
"U.S. Bank, lead bank of U.S. Bancorp USB +0.20% , has partnered with Monitise Americas and FIS(TM) FIS +0.10% to offer a new mobile application for U.S. Bank ReliaCard Visa cardholders in 16 states. ReliaCard is a prepaid, reloadable card for those who receive recurring cash disbursements from a government agency. The new mobile application gives cardholders in various government programs convenient, free access to their accounts anywhere and anytime using their mobile phone. Last year, AccelaPay, a sister prepaid product to ReliaCard, launched mobile banking service."