Mobile Banking Updates - Sept 25

Mobile's Soft Launch
"Most banks have gotten the message: having a strategy to build out mobile banking is a necessity. But while a substantial percentage of banks are plotting moves into downloadable apps and other services available on smartphones, they're still not vigorously pushing the channel."

comScore: “Mobile Banking Up 21% Since March 2011″
"Research firm comScore came out with some Canadian mobile stats a couple months back, all based on March 2011 numbers. At the time they stated that “12.3 percent of Canadian mobile subscribers accessed banking. During the CWTA Wireless Showcase comScore presented some updated numbers and the trend continued – mobile usage is increasing. You can see some of the previous stats we posted here, mainly about OS market share and how Apple, RIM, HTC and Samsung are all battling it out."

Smaller banks join mobile banking trend
"Banks like Bank of America and JPMorgan Chase led the charge into mobile banking, but now a growing number of smaller financial institutions are following suit. Mobile banking can enable consumers to do things like check account balances, transfer funds or even make deposits through text messages, mobile applications on smartphones or tablet computers, or on websites designed specifically for mobile use."

Mobile Banking the Latest High-Touch Benefit Available to Members of TopLine
"TopLine Federal Credit Union has announced that state-of-the-art mobile banking is the latest high-touch, high tech benefit now available for members who use web-enabled phones/devices. It's easy and even fun to use and appears to be an immediate hit with members. Just launched on August 23rd the rate of use is much higher than TopLine anticipated and already higher than the national average."

Isis Finds Tech, Seeks Banks
"Isis and Google are both vigorously bulking up on innovation to turn leather consumer wallets into digital ones, but they have their work cut out for them. As in a lot of new and alternative financial services ventures, integration with traditional banks will be the most elusive, and most necessary, step to success."