"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" 

Tuesday, August 30, 2011

Mobile Banking Updates - Aug 30

1000 user survey finds Windows Phone 7 UI second only to the iPhone
"The Windows Phone 7 user interface is pretty special, featuring a beautifully minimal design devoid of the clutter seen in other mobile operating systems. Now, according the John Best, chief technology officer for Wescom Resources Group, a wholly owned CUSO of the Pasadena, Calif.-based, $3 billion Wescom Credit Union and a provider of mobile banking solutions, the Windows Phone 7 UI is the second most popular user interface after iPhone."

Navy Credit Union Launches Android App to Mixed Reviews
"Financial institutions that serve military personnel, like USAA and Navy Federal Credit Union, are pressured to provide a wide range of remote access beyond that of traditional branch-heavy banks, since the web and mobile phone are often the only access points that consumers who are stationed overseas have to their financial institution."

Monday, August 29, 2011

Mobile Banking Updates - Aug 29

Forrester Reports Surge in Mobile Banking Among Canadian Consumers
"Mobile banking adoption in Canada jumped by 8% in two years, according to a new report from Forrester Research. The firm cited the percentage of Canadian consumers who use online banking as 1 in 2008 and 9 in 2010, based on surveys with more than 5,000 online Canadian adults.

Use of mobile phones for investment and insurance activities remains rare in Canada; fewer than 5% of online Canadians who have an investment account report mobile investing and insurers and brokerages offer few mobile options, Forrester found. However, Forrester said based on past American and European mobile trends, Canada should soon see an increased use of mobile services for investing, trading, insurance and payments."

Don't Send Your Third Party Checks To Schwab Bank
"Overall, customers seem pretty happy with checking accounts from Charles Schwab Bank: especially the part where you can deposit checks by mobile phone and have your ATM fees refunded. Dan came across a situation where online-only banking is not superior, though: when you need to deposit a third-party check. That is, a check made out to someone else, but endorsed over to the account holder."

BNZ mobile apps flying off the shelves
"BNZ’s newly launched suite of mobile banking applications exceeded the Bank’s expectations with the service being accessed over 122,000 times and more than $27 million worth of transactions and bill payments made in just 8 weeks.

BNZ’s mobile banking service launched on June 30 with an iPhone app and mobile banking website, followed five weeks later by New Zealand’s first dedicated Android app for mobile banking. During this time these two applications have been downloaded more than 22,000 times by Kiwis eager to get their banking done on the go."

Path Solutions launches new Mobile Banking solution
"Multi-award winning software provider Path Solutions announced yesterday that it has launched iMAL*2Mobile, a new Mobile Banking solution that allows financial institutions to better respond to the growing and evolving customer demand for mobile-based capabilities using smart phones.

iMAL*2Mobile is a multi-channel mobile solution for customers to conduct banking transactions via Mobile Web browsers, but it also allows quick access to their account positions and transactions history. It boasts powerful end-user features including value-added services such as instant Chequebook requests, fund transfers and bill payments."

Sunday, August 28, 2011

Mobile Banking Updates - Aug 27

Are Early Adopters of Mobile Banking Satisfied?
"When you follow the mobile wallet news, one of the first things you notice is that there is an enormous amount of investment in mobile banking services. It seems like banks and other financial services firms launch a new app every week. Even credit unions are in on the mobile action. Qualitatively, the investment seems disproportionate to the current adoption level. I can’t say I know anyone who uses online banking, though I have to say I am a frequent user of my mobile Starbucks card."

iPhone Users Keenest on Mobile Banking
"When it comes to mobile banking, iPhone users lead the pack. That is the big news out of a U.K. survey conducted by YouGov polling. While 21% of all Brits say they would pay bills via a mobile phone, 46% of iPhone users say they would.

iPhone users similarly doubled the enthusiasm of all other mobile users down the line of mobile banking tasks: 62% say they would transfer funds, 69% check balances, 45% pay others and 31% make contactless payments."

Motorola's Atrix Certificate Updater remedies its mobile banking blunder
"If you're an Atrix 4G user who has been reeling since your banking apps failed, go ahead and cancel that next therapist appointment -- thankfully for you, a permanent fix is now available in the Android Market. Motorola's Atrix Certificate Updater swaps the troublesome security signatures from v4.1.83 with versions that should play nicely alongside your mobile banking apps. "

Tyfone Talks Mobile Banking Trends with TMCnet
"Don’t be surprised if pretty soon you see smartphones replacing credit cards in the cashier line as the mobile banking space is becoming exceedingly popular. Mobile banking, which allows for consumer purchases to be made through smartphones, is on its way to becoming the "new norm,” and one company ready to ride this wave is Tyfone, a company that offers next generation mobile banking services to both online and offline customers."

Wednesday, August 24, 2011

Mobile Banking Updates - Aug 24

Wells Fargo Named Best Internet Bank in U.S.
"For the second consecutive year, Wells Fargo & Company WFC -1.52% has been named "Best Consumer Internet Bank" and "Best Corporate/Institutional Internet Bank" in the United States by Global Finance magazine.

In its 12th annual "World's Best Internet Banks" competition in North America, Global Finance also recognized Wells Fargo as best among consumer Internet banks for Online Deposit, Credit and Investment Product Offerings, Bill Payment & Presentment, Information Security Initiatives, and Social Media. Among corporate/institutional banks, Wells Fargo was named best for Trade Finance Services and, in a new category, Mobile Banking. Details will be published in the magazine's September issue with global winners announced in November."

Smartphones Changing the Way You Pay
"Millions of Americans could see big changes soon in how they get cash, pay bills and manage their money, according to a spate of recent reports by researchers.

The biggest and fastest change will happen in regards to the use of mobile phones to pay bills. According to a report published last week by Visiongain, a British market research company, the number of people worldwide using smartphones to make payments will grow from 120 million today to 658 million over the next five years."

Mobile banking security concerns stalling adoption
"With the explosive growth of smartphone ownership, zooming upwards of 40% since 2010, and constant buzz about such hot new technologies as mobile wallets for payments, financial institutions expected that mobile banking growth would continue to skyrocket as well. However, data in a recent Javelin Strategy & Research study reveals that mobile banking has actually plateaued."

Mobile Payments 101: 'Just the Basics'
"A mobile payment is "any payment" for goods and services that is initiated from a smartphone or similar device. Mobile payments can be broken down into two main types: remote payments or proximity payments.

As the names imply, a remote payment occurs when the consumer makes a payment to a recipient that is not in their location, while proximity payments occur when the consumer and retailer are in the same location."

Citibank introduces mobile banking service in Hungary
"Citibank Hungary has introduced mobile banking service, Citi Mobile, which according to the bank will allow customers to enjoy a secure and smart banking experience anytime and anywhere in the world, including transactions on their Citibank accounts. Citi Mobile is a version of Citibank Online banking service specially optimized for mobile phones (primarily for smart phones) on which the most important functions of Citibank Online are available."

Tuesday, August 23, 2011

Mobile Banking Updates - Aug 23

California Bank & Trust Offers Mobile Banking to Consumer Online Banking Customers
"California Bank & Trust is pleased to announce its new mobile banking service, CBT Mobile Banking. All consumer online banking CB&T customers can enroll in mobile banking immediately following its launch in mid August. The launch of CB&T's mobile banking platform will supplement the bank's relationship-based, customer-centric branch service with the freedom to access account information virtually anywhere a cell phone signal can be reached. By offering mobile banking services, CB&T continues to achieve its goal of creating value for customers by keeping in step with developing trends in financial services technology."

BBVA Provides Access To Mobile Banking With Native Applications - Quick Facts
"BBVA Banco Frances SA (BFR: News ), in order to improve the user experience of mobile banking customers, renewed all its applications for iPhone, iPhone, Android and Blackberry. The company said the new versions were designed specifically for each platform, thus adapting the management of BBVA each mobile phone model."

Mobile Banking App Ideas Rewarded by Monster Offers in "Pitch That App!!!" Contest
"Monster Offers MONT -24.80% , a leading mobile banking solutions company and Daily Deal aggregator, announced today its sponsorship of the "Pitch That App!!!" contest hosted by Iconosys. Monster Offers in conjunction with ZalaPay(TM) will award a $500 pre-paid ZalaPay card to the person who showcases the best mobile application idea that integrates mobile payments and mobile banking solutions."

FirstMerit Bank Sees Strong Adoption Following Launch of Mobile Money from Fiserv
"Fiserv, Inc. FISV -1.25% , the leading global provider of financial services technology solutions, announced today that FirstMerit Bank has launched its mobile banking solution using Mobile Money(TM) from Fiserv. After making the decision to launch its mobile solution, FirstMerit moved decisively, completing the implementation process from start to finish in 120 days. The new service launched in early August, and within the first week approximately 11 percent of active FirstMerit online banking users had enrolled. FirstMerit Bank is a subsidiary of FirstMerit Corporation FMER -3.07% , a $14.3 billion diversified financial services company headquartered in Akron, Ohio."

Sunday, August 21, 2011

Mobile Banking Updates - Aug 21

B of A to upgrade high-tech services
"Bank of America will launch improvements to its online and mobile banking services in Washington and Idaho beginning in mid-October, the bank has announced. The upgrades will allow local B of A customers to match services already available in most states ahead of the bank’s nationwide service restructuring next year.

Customers will see a broader range of mobile, online, and ATM services as the bank completes its upgrade of computer systems serving the two states, said Joe Price, the bank’s president of Consumer and Small Business Banking. Once it completes a similar upgrade in California next spring, the bank will have a nationwide computer platform for uniform customer services, he said."

Mobile banking offers customers convenience, control
"Mobile banking can leverage existing channels such as ATM and online banking to deliver targeted marketing campaigns, as well as deliver functionality to make self-service transactions more convenient.

A survey by Nielsen estimates that by the end of 2011, smartphones will overtake feature phones in the United States. One in two Americans will have a smartphone by Christmas 2011, according to the survey."

Remaking Mobile Choices
"When it comes to providing services to members, their expectations about what they can or cannot do with the services you've given them is critical. Regardless of the channel, you must support the baseline expectations of your members. If you do not, you will disappoint, and potentially lose, members. If you exceed those expectations then you can delight, and potentially increase adoption and usage of desired services, along with member satisfaction and loyalty."

Banking by smartphone can be risky
"J.T. Pierce's bank is right next to his Foster City workplace. But he hardly ever visits the branch, since he uses online banking to take care of most of his banking needs. 'I've been banking online since college,' said the 26-year-old San Francisco resident. 'As soon as I was able to open an account online, I pretty much jumped on it. The No. 1 reason is convenience.' But while he likes the convenience, he takes the time to change his password every few months."

Thursday, August 18, 2011

Mobile Banking Updates - Aug 18

The Future of Android, Part 2: Security Snafus
"The number of attacks on Android devices has been rising over the past few months. The malware has exotic names such as "Zitmo," "DroidDreamLight," "Hong Tou Tou," "DroidKungFu," "YZHCSMS," "Geinimi" and "Plankton."

In January 2010, Google (Nasdaq: GOOG) removed more than 50 fake banking apps from the Android market, and in March of this year, it removed another 50 infected apps, Amit Sinha, chief technology officer at Zscaler, told LinuxInsider."

HTC, China UnionPay to launch smartphone for mobile banking
"Taiwanese smartphone maker HTC Corp. signed a deal with China UnionPay Co. on Tuesday to launch a smartphone in China that would allow mobile payments through the country's only credit card network.

The "HTC Stunning," a 4-inch smartphone powered by Google's Android operating system, will allow users to apply for mobile banking services such as remote bill payments and contactless payments, according to an HTC statement."

Union First Market Bank launches three new mobile banking offerings
"Union First Market Bank has launched three new mobile banking offerings, including mobile web, text message banking and an iPhone application. Now iPhone customers will be able to download the Union First Market Mobile Banking app from Apple's App Store. 'Mobile banking is no longer an exclusive product from large national or regional banks,' said William Beale, CEO of Union First Market Bankshares."

Capital One Launches Android Mobile Banking Application
"Aiming to give its customers more choices regarding how they access their account information, Capital One Financial Corp. (McLean, Va.) launched its Android mobile banking application last week. The new Android app joins Capital One's other digital channels: iPhone app, mobile website, SMS text, chat, Twitter and Facebook.

'The growth in mobile banking has been phenomenal,' said Jack Forestell, EVP, Digital Strategy, Capital One, in a press release. 'More and more, our customers are using their mobile devices to manage their accounts in a way that works best for them. By launching Android … we continue to expand our mobile offerings to our customers and are responding to their needs. Ultimately, we are meeting our customers in their channel of choice.'"

Trustmark Receives High Rankings Among National Online Consumer Banks
"Trustmark National Bank's mobile banking service recently ranked among the top five most popular consumer bank applications for iPad as reported by NetBanker, a leading online finance and banking blog. The ranking includes the most popular financial applications from all U.S. Financial institutions available through the Apple App Store."

Tuesday, August 16, 2011

Mobile Banking Updates - Aug 16

Survey Finds Smartphone Apps Store Too Much Personal Data
"An uncomfortably large percentage of mobile applications are storing sensitive user account information unencrypted on owners’ smartphones, according to a new survey of 100 consumer smartphone apps.

Some 76 percent of the apps tested stored cleartext usernames on the devices, and 10 percent of the tested applications, including popular apps LinkedIn and Netflix, were found storing passwords on the phone in cleartext.

Conducted by digital security firm ViaForensics, the testing occurred over a period of over eight months and spanned multiple categories, ranging from social networking applications to mobile banking software. The firm tested apps only for iOS and Android, the market’s leading mobile platforms."

TMG Releases Mobile Banking White Paper
"Brian Day, product development architect for The Members Group (TMG) says it’s time for financial institutions to rethink they way they service customers – understanding that today’s consumer increasingly values self service over traditional customer service. This shift in customer preference, Day says, has elevated the importance of products like mobile banking for community-based financial institutions."

Government rallies banks on mobile banking
"The Minister of Finance, Ms Maria Kiwanuka, has said local financial institutions have to offer mobile phone-based solutions to make financial services more accessible and affordable.

Speaking at the launch of the Interswitch in Kampala yesterday, Ms Kiwanuka said,“I urge Interswtich and other financial institutions to have products that will lead to financial inclusion and reduce the cost of doing business."

Absa to launch mobile apps, overhaul ATMs
"Banking group Absa will soon overhaul its ATMs, adding a broad range of functionality to them, and launch mobile banking applications supporting a range of popular smartphone and tablet computer operating systems.
It says this is part of its long-term goal of providing a “unified customer experience” across platforms and devices, particularly entry-level devices.
Deputy managing executive for digital channels Adrian Vermooten says Absa is in the process of a wholesale “platform renewal”. The bank has created a core framework that can easily be adapted to various digital platforms, he says."

Sunday, August 14, 2011

Mobile Banking Updates - Aug 14

Security Warning: 25% of Mobile Banking Apps Flunk Test
"In the study conducted by viaForensics, 25% of the mobile banking programs analyzed received a "fail" rating. In most cases, these failures occurred because testers were able to recover a user password or other sensitive user data from a user's mobile device. In some cases, the apps cached a security PIN or a user name and password. In other instances testers were able to recover payment history, partial credit card numbers and other transaction-related data. About a third (31%) of mobile banking apps received a "Warn" grade because a user name or app data was present, but not considered a significant risk to the user. The remaining 44% of mobile banking apps passed the test."

Mobile banking: Will you be hacked?
"You're in the store trying on a stunning but outrageously priced shirt. You have to have it, and your hand has already palmed your debit card -- but wait! Did your mortgage payment clear your money market account yet?

You could whip out your smartphone and check your balance using your bank's app, and maybe make a quick transfer between accounts. If you access your bank account information on your mobile phone, are you jeopardizing the security of your checking and savings accounts?"

Fundtech Releases Results of Customer Poll
"Jersey City, N.J.-based Fundtech has announced the results of its annual poll focusing on hot topics in the banking industry, conducted last June. The poll surveyed about 100 of the financial software and services company's banking executive clients from more than 50 U.S. financial institutions. The results are similar to those from last year's poll in that security and mobility remain top priorities for banking executives. However, the percentage of executives concerned with those issues has increased."

Mobile payments creates four-way conversation: Barclaycard exec
"The payment process is currently a one-way conversation between the customer and the merchant. Mobile is set to change that, according to a leading expert in mobile payments.

Often, the merchant does not know the customer and therefore cannot anticipate future needs with the contemporary payments system. And the customer cannot communicate back as often as she would like."

Wednesday, August 10, 2011

Mobile Banking Vendors & Research Firms

mFoundry-Powered Mobile Banking Solution Helps Verity CU Serve Members with Apps, Mobile Web and Text
"mFoundry, the fastest-growing mobile banking company in the U.S., announced Verity Credit Union as a customer of its service-based mobile banking platform. Verity Credit Union is the latest credit union to deploy its mBanking solution.

'We were looking for a partner that could deploy mobile banking for us without an arduous on-premise exercise,' said Shari Storm, Chief Marketing Officer, Verity Credit Union. 'mFoundry's excellent deployment track record and their ability to work with our existing online and core processing systems were key factors in our decision process.'"

Meet the Moneyhawks -- Financial Institutions Most Desirable and Profitable Customer Segment
"Javelin Strategy & Research announces its latest research report -- "How to Attract and Keep High-Value 'Moneyhawks': Increase Profitability Through Targeted Multichannel Service Messaging". Javelin identified a market segment known as Moneyhawks who emerged as the most profitable consumer for a Financial Institution. Their high frequency, tech-savvy approach demands and uses a variety of self-service channels and services, including personal finance management (PFM) tools and financial alerts. Javelin identified four distinct segments of consumers, based on their use of and comfort with online and mobile banking, demographic makeup, and tech-buying preferences. The Javelin report, based on surveys conducted with more than 5,100 consumers, shows Financial Institutions (FIs) how to identify, retain and grow these most valuable customers."

Kony Ranked Among Top Mobile Banking Technology Vendors by Tower Group
"Kony, the leading mobile application platform provider, today announced the company has been named a top mobile banking vendor in Tower Group's "Review of North American Consumer Mobile Banking Technology Vendors: Chasing A Moving Target" report."

Webroot Strengthens Its Banking Security Portfolio with Mobile Security
"Webroot, the first Internet security service company, has today announced it is extending mobile security applications to its partners in banking in order to protect their customers who use tablets and smartphones to conduct mobile banking.

The adoption of mobile browsing, social networks, banking and financial transactions increase the threat of phishing and malicious URLs targeting mobile devices. Leveraging Webroot's anti-malware and cloud-based URL scanning technologies, Webroot is now offering banking customers Webroot® Mobile Security for Android to block threats and malicious applications, and to assess the safety of website links before a person clicks on them. Mobile banking security features such as anti-malware, secure browsing, anti-phishing and application profiling will help prevent the theft of online credentials, and protect against mobile payment compromise. Device Locate and Wipe functions will also protect a customer's personal information in the event a mobile device is lost or stolen. Webroot plans to introduce mobile security applications for additional platforms later this year."

Clairmail Reports Record Quarter for Bookings and User Adoption Growth in Q2 2011
"Clairmail, Inc., the leader in mobile banking and payment solutions, today announced the company's continued growth of bookings and user adoption growth, posting its largest quarter on record and further solidifying its position as a market leader servicing over one-third of the top 50 North American Financial Institutions. Additionally, the company posted triple-digit year over year growth in cumulative transactional, user and alert volume. Clairmail is now signing a new mobile user up every 7 seconds, with peak periods recording one user per second."

Tuesday, August 9, 2011

International Mobile Banking Updates - Aug 9

Barclays Mobile Banking

BNP Paribas and Orange to launch next-generation mobile bank
"BNP Paribas has formed a strategic business partnership with Orange to jointly launch a new, entirely mobile, banking service. The deal between the French banking group and mobile network operator is designed to allow the pair to share expertise in their respective areas of excellence and is believed to be the first of its type in the world."

The popularity of mobile banking in Canada continues to rise: Report
"An analysis of the Canadian online banking sector in Q1 2011 by comScore showed that there were 13.3 million online banking customers across the top Canadian financial institutions who manage checking or savings accounts online. Included in the competitive set for this analysis were the BMO Financial Group, National Bank of Canada (BNC), Canadian International Bank of Commerce (CIBC), Desjardins Group, HSBC, ING Group, President's Choice Financial, Royal Bank of Canada (RBC), Scotiabank and TD Bank."

Africa sprints ahead with mobile banking
"Visa’s recent $110 million purchase of South African mobile financial services infrastructure provider, Fundamo, certainly let the cat out of the bag. While most of the world might still be feeling their way around mobile banking, many African countries are making large strides forward in this space and it seems likely that this is where mobile banking models are going to evolve."

Stakeholders Discuss Mobile Banking Regulatory Framework
"Policy makers, regulators and stakeholders in the banking and telecommunications sectors have met in Accra to discuss and work towards the development and growth of an ideal regulatory regime for the new industry of Mobile Payment System (MPS).

MPS or mobile wallet is an alternative payment method, whereby instead of paying with cash, cheque or credit cards, a consumer can use a mobile phone to pay for a wide range of goods and services."

Monday, August 8, 2011

Mobile Banking Updates - Aug 8

Mobile Pioneers Tell All : 10 Keys to Mobile Banking Success
"With devices based on Google's Android operating system challenging Apple's iPhone, tablet computing on the rise and SMS text messaging overtaking email in popularity, banks of all sizes have scrambled to anticipate and meet customer demands for mobile banking services. Among the banks that got an early start is SunTrust Banks."

A Banking Cloud for 100 Million Customers – 1.7 Billion Mobile Phone Users Can’t Be Wrong
"A cloud service for the banking world is launching with the capability to serve 100 million customers in emerging and established markets.

The service from Polaris Software Labs will allow the Chennai-based financial technology company to offer its infrastructure and banking products on a pay-per-use basis. Polaris built the infrastructure in partnership with IBM and IdenTrust, an identity provider."

Mobile banking: Will you be hacked?
"You're in the store trying on a stunning but outrageously priced shirt. You have to have them, and your hand has already palmed your debit card--but wait! Did your mortgage payment clear your money market account yet?

You could whip out your smart phone and check your balance using your bank's app, and maybe make a quick transfer between accounts. If you access your bank account information on your mobile phone, are you jeopardizing the security of your checking and savings accounts ?"

Sunday, August 7, 2011

Mobile Banking Updates - Aug 7

KPMG Report :Banks’ payment revenue may be at risk as the mobile payments value chain evolves
"As payments made from mobile phones and other mobile devices become increasingly popular, many banks around the world are rapidly re-evaluating and evolving their business models. New competition from non-traditional sources such as Apple, Google and PayPal is forcing banks to move quickly in order to preserve their payments revenues and take advantage of emerging mobile platforms, according to a new report from KPMG International."

Mobile Banking Doing More than Just Making You Look Hip
"Sure you may look pretty cool when you swipe your iPhone instead of your MasterCard (News - Alert) to pay for that Caramel Frappuccino Light Blended coffee at Starbucks, but what else can mobile banking do for your image and finances?

Well according to industry experts out there, it can do lots. Bankrate (News - Alert).com recently published an article detailing the five main reasons to use mobile banking services, a trend that is taking the tech space by storm as more than 45 million people are expected to use mobile banking services by 2014 according to Frost & Sullivan (News - Alert). Mobile banking allows for consumer purchases to be made through smartphones."

Mobile Banking Changes Everything, or Nothing
"I've been thinking about mobile delivery a lot in the last few years. Two years ago, I opened presentations with "mobile is the new online." But lately I've changed that line to:

Mobile is a better online

Equating mobile banking to online is selling it short. Really, it's much better than online. I believe that in the not-too-distant future (i.e., 10 years out), we'll come to look at online as an extension of mobile, not the other way around.

Here's why mobile is not only better than online, but also changes everything about remote delivery..."

10 Threats to Your Cellphone’s Security
"Apple and Google came under fire earlier this year for tracking cellphone users’ locations via their mobile operating systems. But as consumers use their phones for banking, shopping and more, there are even more malicious forces interested in that data and other information on your handset."

Thursday, August 4, 2011

Mobile Banking Updates - Aug 4

Mitek enabling camera phone image input across dozens of mobile apps
"Mitek Systems’ mobile imaging service has become a big hit with the banks and their customers, allowing a depositor to snap a picture of a check with a camera phone and upload their deposit over the mobile Internet. But Mitek has bigger ambitions for its document image processing platform.

Today, Mitek announced that it was expanding from its mobile banking niche into the cloud, creating a developer program and set of application programming interfaces (APIs) that will allow any developer to build photo document processing into their apps. Mitek believes that the software has huge potential in a myriad of consumer and enterprise markets, handling everything from business card scanning and receipt tracking for business expenses to processing handwritten prescription at online pharmacies and invoicing claims from insurance field agents."

BankAtlantic introduces new app for Android phones
"BankAtlantic has introduced its mobile banking application, or app, for Android platform phones, powered by Intuit Financial Services. According to the company, the application will offer Android phone customers the same mobile banking medium as iPhone users with a suite of seamless features including: View account balances; View recent transactions and transaction history; Transfer funds between accounts; Get GPS guidance to locate the BankAtlantic branch or A location nearest you."

ANZ releases new version of goMoney
"Australia and New Zealand Banking Group (ANZ) has released new version of its iPhone mobile banking app goMoney. According to ANZ the new app version has been updated with BPAY functionality and enhanced features for people who are blind or have low vision. The new version of ANZ goMoney can be downloaded via the App Store."

Leading Mobile Banking Provider Clairmail® Selects Jigsaw Data Cloud to Drive Mobile Banking Success
"Salesforce.com (NYSE: CRM), the enterprise cloud computing (http://www.salesforce.com/cloudcomputing/) company, today announced that Clairmail has deployed the Jigsaw Data Cloud to accelerate its fast-growing mobile banking operations. Clairmail is the leading provider of mobile solutions for banking, with one-third of the top 50 banks in North America using Clairmail's on-demand mobile banking solution."

Technology Credit Union Launches Next Generation Mobile Banking
"Technology Credit Union announced today the launch of its next generation Mobile Banking, which includes native applications for the iPhone, iPad, iPod Touch and Android devices. These new applications make it easier than ever for Tech CU members to check account balances and track activity, transfer funds and pay bills, as well as find the nearest surcharge-free ATM or branch location -- all while on the go. The applications have already been downloaded more than 2,000 times, with the iPhone app scoring a 5-star rating and the Android scoring 4 stars. This next generation of Mobile Banking also includes a new and improved Mobile Browser (WAP) for compatibility with all other smartphones."

Manatee banking on the run
"Convenience, for banking customers, used to mean being able to make a phone call for your balance. About 15 years ago, it evolved to mean the ability to check your accounts on your home computer, 24 hours a day. Today, banking convenience has moved even farther up the continuum of “right here, right now.” Mobile banking, the blanket term for conducting bank inquiries and transactions by mobile phone, enables customers to monitor their money while watching TV, traveling, dining, watching a ball game, or even sitting in the hot tub."

Monitise brings mobile payments to Nigeria
"British technology company Monitise launched a pilot scheme in Nigeria in March this year – and has signed up more than 6,000 people. The scheme highlights the appetite for mobile banking and payments in Nigeria, particularly among the unbanked population and in rural areas where physical banking infrastructure is undeveloped.

There are 90 million adults in Nigeria. Only about 20 million have access to financial services but there are more than 100 million mobile phone subscribers."

Tuesday, August 2, 2011

Mobile Banking Updates - Aug 2

Smartphone Use Soars, While Mobile Banking Adoption Stalls
"With the explosive growth of smartphone ownership, zooming upwards of 40% since 2010, and constant buzz about such hot new technologies as mobile wallets for payments, financial institutions (FIs) expected that mobile banking growth would continue to skyrocket as well. However, Javelin's data reveals that mobile banking has actually plateaued. The Javelin report, based on surveys conducted with more than 13,000 consumers, examines this surprising trend, identifies the real reasons why more consumers aren't using mobile banking, and presents the steps FIs must take if they want to engage more mobile consumers."

Time to Expand Mobile Beyond Transactions
"Technology changes at an exponential, and rapid, speed that causes many decision makers to overlook its possibilities. Yet mobile and online advances are becoming the “new normal,” so the concern now is that a credit union which lets these banking options pass may be rendered as obsolete quicker than one would think. Credit unions must first be aware, however, that mobile options extend beyond mobile banking on members’ iPhones."

Consumer awareness reigns as main factor in mobile banking: study
"Although mobile has become a vital part of financial institutions’ strategies, many banks are missing the mark by not getting the word out about their mobile options to consumers, according to a study by Mercatus. The study found that the majority of consumers surveyed knew what mobile banking was in general. However, the research found a substantially lower percentage of bank users surveyed knew if their particular bank offered mobile services."

Rosy Predictions Aside, Mobile Payments Boom Still Years off, Experts Say
"As the year progresses, predictions from a year or two ago that mobile payments would take off in 2011 or 2012 seem more and more unrealistic. Payments researchers at accounting and consulting firm KPMG think it’s going to be a few more years, and that near-field communication (NFC) systems embedded in phones ultimately will win as the preferred technology of mobile payments."

Young people choosing mobile banking
"New research shows that more and more young smartphone users in Britain and the United States are managing their finances on their phones. Popular features include checking account balances and viewing transactions, as reported on uk.reuters.com.

The consumer research was commissioned by mobile web and application specialist Antenna. It found that 40% of those who accessed the internet with a mobile phone or tablet computer in the U.S. were using banking services on their mobile devices. Only 25% did so in Britain."

Affluent class using mobiles more than Internet for banking
"Arecent survey by global consulting firm McKinsey and Co. has found that the affluent class in India, categorized as people whose household income is above '10 lakh a year, use mobile phones more than the Internet for their banking needs, even as the use of bank branches is dropping. The survey profiled 20,000 customers from 13 countries, out of which 5,000 were from India--the largest sample size. According to the Asia Personal Financial Services Survey, there was a 338% increase in mobile usage for banking needs compared with a 131% increase in Internet usage over a four-year period."

Monday, August 1, 2011

Mobile Banking Updates - Aug 1

How to Get With the Mobile-Banking Program
"Don't fear mobile banking. More consumers are buying smartphones, but they're not embracing mobile banking at the same pace -- mostly because they have a misplaced fear of it, according to several studies by research firm Javelin Strategy & Research. In 2009, 26% of smartphone owners were uncomfortable using their phones for banking. A year later, that number jumped to 40%, according to the firm."

Is Mobile Banking Right For You?
"The number of customers using mobile banking is soaring. In fact, it’s expected to double in the next four years. Currently, about 38 million Americans use their smart phone to help them take care of their financial affairs. They say they like it because it makes banking easier when they travel, or when they quickly want to check a balance or make a transfer."

Mobile Banking Trend Surges across the Globe
"Move over cloud and converged communications as there is a new big shot trend in the tech space right now – mobile banking.

Mobile banking, which allows for consumer purchases to be made through smartphones, is on its way to becoming the "new norm.” In fact, recent research from TNS (News - Alert) found that more people than ever are turning to their beloved BlackBerrys and Androids to access financial services."

Quantifying the value of mobile banking
"A recent report from KPMG assesses how the global financial community is responding to the adoption of mobile banking and mobile payments. The report is overwhelmingly positive and highlights some interesting points about the rapid developments in this innovative space.

KPMG states that most large banks and many mid-size banks already offer some form of mobile banking service. It supports this with the statistic that almost two thirds of respondents to its survey indicated that mobile banking is either already mainstream or on the verge of gaining traction."

2 out of 5 Mobile Banking Users in Canada Use iPhones
"An analysis of mobile banking in Canada using the recently debuted MobiLens Canada service reveals 11.1 percent of Canadian mobile subscribers accessed banking information in March 2011. Among this group, more than three-fourths were using smartphones. Apple iPhone users accounted for more than 2 out of 5 mobile banking users, followed by RIM BlackBerry users."