Mobile Banking Updates - Oct 30

Mobile Banking App Usage in the U.S. Increases 45 Percent from Q4 2010
"comScore, Inc., a leader in measuring the digital world, today released an analysis of mobile financial services usage in the U.S. showing that 32.5 million Americans accessed mobile banking information on their devices at the end of Q2 2011 in June, representing 13.9 percent of all mobile users. The study also revealed that 12.7 million mobile users reported using banking apps, showing a notable increase of 45 percent from Q4 2010."

Mobile Banking Changes Fuzzy Within FFIEC’s New Rules
"Some may call it a convergence of three game-changing forces that are rewriting financial institution security at warp speed. First, there is the U.S. government demand that financial institutions – credit unions included – comply with new security guidelines issued by the interagency Federal Financial Institutions Examination Council to take effect in January 2012."

Connect with Mobile Banking: Part One in a Three-Part Series
"Today there are more than 5 billion mobile phone subscribers in the world, and penetration has now surpassed both the number of internet users and television viewers. Moving forward, mobile banking is set to be a natural extension for today’s consumers. Mobile banking isn’t the new technology, it’s the “now” technology your members expect."

Mobile wallet - who and what will be a winner?
"This week, McKinsey and EFMA issued a report on the future of mobile banking in Europe. Is it a surprise? Not exactly. What strikes me about the report is that whilst banks admit that they are not investing enough they do recognise that mobile banking is the way forward and will become the service of choice amongst consumers. What also strikes me is that banks have acknowledged that telcos and non-banks are leading the way."

Mobile Banking Updates - Oct 28

S&T Bank Introduces Mobile Banking for Anytime, Anywhere Access
"S&T Bank STBA +5.85% , a full-service financial institution with branch locations in 10 Pennsylvania counties, is pleased to announce the launch of S&T Mobile Banking, a mobile phone-based platform that enables customers to access their accounts via text message, mobile web or with the new S&T app available for iPhone, Android and Blackberry. With mobile banking, S&T customers are able to check balances, transfer funds, review transactions, pay bills and more right from their phone."

Lookout Mobile Security Rolls Out Free iPhone Security App
"iPhone owners do more with their phones than anyone else--browsing the web, sending emails, using social networks and even mobile banking. In fact, 52% of iPhone users conduct mobile banking on their iPhone. When designing this new offering, Lookout focused on providing one, easy to use app to keep iPhone users safe, and started by addressing the biggest risks to iPhone users today. In a recent survey, Lookout found that:

* 93% of iPhone users said they have concerns about the security of the data stored on their phones
* 4 out every 10 iPhone users are unsure about the security of public WiFi
* More than a third of users don’t regularly sync their devices."

Tyfone Introduces iCashe Mobile Wallet That Combines Mobile Banking With Digital Commerce
"CTIA Enterprise and Applications -- Tyfone (www.tyfone.com) announced today the availability of iCashe™, a new mobile wallet and eCommerce engine that for the first time delivers purchasing power through any mobile banking application. Built entirely on top of Tyfone's award-winning u4ia® mobile financial services platform, iCashe is the industry's only service to blend comprehensive mobile banking features with convenient consumer purchasing, gifting and loyalty programs. With the option of adding Tyfone's SideTap™ microSD secure element technology, iCashe also provides contactless NFC payments and the highest level of secure identity management."

Mobile Banking Updates - Oct 27

Mobile banking to keep growing
"Though big banks such as Bank of America and JPMorgan Chase led the charge into mobile banking, a growing number of smaller financial institutions are following suit. Mobile banking can enable consumers to 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."

Mobe Selects CellTrust SecureSMS for Secure Mobile Banking Applications
"CellTrust Corporation, the recognized leader in secure mobile messaging, today announced that Mobe Inc., the leading global provider of mobile money movement solutions, will license CellTrust's SecureSMS 3.0 software to bring an added layer of security to Mobe's mobile banking products."

GoTrust's NFC microSD cards to power mobile banking in China
"GOTrust Technology has announced that its NFC-enabled microSD secure element will be used in China UnionPay’s mobile payments roll out in China. After trials in the Sichuan province in Western China, China UnionPay says it will deploy GOTrust’s SWP microSD cards in the new HTC Incredible NFC Android smart phone. According to GOTrust, this will result in a mass shipment of 500,000 microSD’s to the user market during the next six months. Further phases are estimated to deliver millions of additional units through 2012."

Meriwest Mobile Expands and Improves
"Meriwest Credit Union announced today that they have introduced a new mobile banking application for the Android Phone platform and have made a significant update to their iPhone app. The new Android application allows members to access their accounts, to see balances and their transaction histories, transfer funds between accounts and manage their spending plan with tools that allow them to graph their expenses and have a visual indication of their spending habits. Members can also add additional users to the application and locate Meriwest Credit Union financial centers and CU Shared branches and ATM’s."

Mobile Banking: Symantec's Whitepaper Details Top Seven Android Monetization Schemes
"According to a new research from Symantec (News - Alert), a majority of recent efforts to monetize mobile malware have a low revenue-per-infection ratio. This has limited the return on investment achieved by attackers. However, Symantec cautions that this ratio is likely to increase in the future as smartphones gain traction as payment devices. Smartphone usage is growing exponentially, with new mobile device shipments increasing 55 percent in 2010."

International Mobile Banking Updates - Oct 26

Mobile, Internet, e-banking - the way to go
"In tune with the times, the Thiruvananthapuram-headquartered State Bank of Travancore is setting great store by mobile and Internet-based banking as well as harnessing the e-platform to executing Government business. Mr P. Nanda Kumaran, who has taken over Managing Director in recent times, says that the mobile banking services are steadily gaining traction and monthly registrations have touched ‘the five-digit mark' over the last three months, compared to the sub-1,000 levels a month earlier."

Airtel Money to enhance mobile banking services for Airtel customers (Ghana)
"Airtel Ghana has launched Airtel Money, allowing customers to use their mobile handset in place of their wallet. As per reports, Mr Luck Ochieng, Sales Director, Airtel Ghana has said that this innovative mobile service would help customers to overcome many challenges that they go through when transacting business in their daily lives."

MOBIbucks Gives Mobile Wallet to Jamaicans
"Advanced Integrated Systems and MOBIbucks will roll out the first mobile money platform in Jamaica.
US-based mobile payments specialist MOBIbucks and Jamaica-based transaction processing provider Advanced Integrated Systems intends to roll out this platform in the Caribbean within the next twelve months."

Mexico pioneers LatAm mobile banking joint venture
"Mobile banking services could be set to take off in Latin America following the announcement of a joint venture between the region’s most prolific operator, America Movil, and the US bank Citigroup. The new venture, named Transfer, will begin offering services in Mexico early next year. America Movil CEO Daniel Hajj has stated that the firm is aiming for around 15% of its current customers to adopt the service over the next three to four years."

Nepalis in Qatar can send money via mobile
"Migrant workers in Qatar will shortly be able to send money to Nepal with the help of a SMS - thanks to newly introduced service - Mobile Banking Service - of Qatar Telecom (Qtel). Executive Director of Qatar Telecom´s (Qtel) International Service Ahmed Yousef Ebrahim Al-Derbesti said the company is introducing the service in Nepal in three months. 'We introduced Qtel Mobile Money as a product last week only and we hope to deliver the service within next three months in Nepal,' he added."

Africa’s mobile banking revolution: the poor now have access to financial services
"Mobile banking and mobile money are revolutionising the face of personal and business banking in Africa. There is no need to carry a bank card orcheque book on you. You do not even have to visit the local bank branch to transfer or withdraw money. All you need now is a mobile phonewith a SIM card."

Diamond Bank partners Paga on mobile banking
"In line with the Central Bank of Nigeria’s drive towards making Nigeria a cashless society, Diamond Bank has announced the signing of a formal partnership with the Central Bank licensed company Paga, to offer branchless financial services to Nigerian consumers. According to statement by the bank, both organisations have been working together on this initiative for nearly two years."

Mobile Banking Updates - Oct 24

mFoundry Ranked Number 105th Fastest Growing Company in North America on Deloitte's 2011 Technology Fast 500™
"mFoundry, the fastest-growing provider of mobile banking solutions in the U.S., today announced it ranked 105 on Deloitte's Technology Fast 500™ ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America. mFoundry grew 985% percent during this period and is the only provider of mobile banking solutions to make the list."

Research and Markets: 2011 - 2012 Mobile Banking Vendor Scorecard: Mobile Banking Has Moved from a Nice-to-Have to a Must-Have Channel
"After a pause in 2010, consumer adoption of mobile banking skyrocketed by 60% in 2011 as hundreds of new banks went live with their mobile offerings. In this third annual review, Javelin provides a highly detailed analysis and ranking of the mobile banking solutions of 15 major vendors and identifies detailed best practices and the top 10 trends for the industry."

Case study: Citizens Bank, mobile banking and the commercial client
"Citizens Bank introduced Access Mobile, a mobile banking application for commercial customers, just about one year ago.
The app—which is available for iPad, iPod touch, iPhone, Android and Blackberry—allows businesspeople to manage their cash flow at their convenience. They can approve transactions, view account balances, approve transfers and receive alerts anywhere in the world."

Mobile Banking, Big Hit With ESP Credit Union’s
"Ten credit unions in the past 3 months have signed up for ESP’s Mobile Banking solution. 'We looked at a number of solutions to integrate into our ancillary service offerings. Although we found some great products, we figured we could build a solution that would be much more cost effective and run on more phones than the solutions we were looking at could offer,' said Matt Lefler, ESP Vice President. One of the first adopters was Oshkosh Truck Credit Union and here is was President, Sara Steichen had to say, 'We are a small credit union, but like to be on the cutting edge of technology.'"

Dell Shopping & Support Mobile App Now Available for iPhone

Today, for customers in the United States, the Dell Mobile app is officially available for iOS. iPhone and iPod Touch users can now utilize all of the same helpful shopping and support features available in the Android application. Learn more at dell.com/mobileshopping. You can download the app by using any one of the several download methods below:

* Search “Dell Mobile” within the App Store
* Text “OFFER” to 335548 – a download link and exclusive coupon code will be sent directly to your mobile device
* Visit dell.com/app – you’ll be sent directly to the Dell Mobile landing page within the App Store
* Scan the QR Code shown below

Mobile Banking and Payments - Oct 19

Mobile payments looking at turbulent times
"The idea of a digital wallet and the opportunities that come from moving payments onto the smartphone were major themes at the CTIA Enterprise & Application show. American Express executive Dan Schulman used his keynote address to call for more alliances, noting that, "no single company can do this alone." The prospect of mobile payments was also the focus of one of the more prominent panel discussions today.

It's not hard to see why. Beyond getting a piece of the financial transaction, companies are starting to see the opportunities that come from wedding a digital wallet with reward cards, discounts, and promotions and more targeted advertising; walk into a store and get a coupon for a product that you've previously purchased before."

Citi debuts browser-based mobile payments app
"Citigroup unveiled CitiDirect BE Mobile, a browser-based application enabling clients to receive notifications and authorize payments using their mobile phones. Available to over 50,000 clients and 300,000 users worldwide, the app includes SMS alerts that complement email and fax notifications and payment authorizations covering every type supported by Citi's online banking platform. CitiDirect BE Mobile is now live in 24 countries and will expand globally throughout the remainder of the year."

Ericsson Enables In-App Android Payments Via Carrier Bills
"Ericsson (NSDQ: ERIC) is now turning its IPX mobile payment system to facilitate in-app payments for some mobile app types. That could mean virtual goods, levels, news and other mobile content could be billed for by mobile carriers rather than app stores. Ericsson says its IPX is used by over 120 mobile networks. If they could take a bigger slice of booming in-app payments revenue, they could start to claw some money back from app distributors who run over their cell towers."

U.S. Bank First in Industry to Launch Mobile-Enabled Credit Card Application at Select Retail Locations
"U.S. Bank, lead bank of U.S. Bancorp (NYSE: USB), announced today the launch of a new U.S. Bank Card app for select retail partners. The new iPhone app brings convenience and buying power into the users’ hands by giving them the opportunity to apply for and receive on-the-spot credit to make immediate in-store purchases. Currently, the app is being piloted with REI (Recreational Equipment, Inc.), a leading retailer of quality outdoor gear and apparel, and will be introduced to other retail partners later this year. The new iPhone app expands U.S. Bank’s leadership in the mobile banking space."

Mobile Banking Updates - Oct 18

Integration: The Key to Successful Mobile Strategy
"The increasing awareness of and demand for mobile deposit has placed credit unions at an interesting crossroads. Waiting too long to launch the service places them at risk of losing members to competition. However, hastily rushing to market with a mediocre solution and fragmented strategy could be even more costly in the long run. Credit union executives also continue to debate whether to launch mobile deposit as an integrated or stand-alone component. The answer to this debate hinges on the member’s experience."

Take Your Bank Wherever You Go!
"Making financial transactions on the move may soon become the order of the day as more and more mobile commerce (mCommerce) or mobile banking services are introduced by telecom service providers in collaboration with Indian banks. Let's see what are the current possibilities in the mobile banking space, and also learn if it is secure to transact over mobile phones. In this digital era, when time has become the most scarce resource, busy executives are always in search of tools and services that allow them to perform their business and personal tasks, at the click of a button. mCommerce or mobile banking, which refers to the use of mobile phone to perform financial transactions, is also one such service which is helping busy professionals to save time by making use of their mobile phones for making payments for goods and services that they purchase."

5 Mobile Banking Security Tips
"It wasn't that long ago that an account deposit or withdrawal required a visit to your bank to complete the transaction. Banking was inconvenient and time consuming. Today, we have lots of options when it comes to financial transactions. Mobile banking is an increasingly popular way to monitor and manage your money.
But how secure is mobile banking? Could a thief sniff out your bank account information digitally? Is it safe to make financial transactions using an app or text messaging, or by visiting a mobile Web site?"

New Report Reveals Opportunities for Bank Marketers to Find New Routes to Revenue Beyond Levying Fees for Basic Banking Services
"A tighter economy is forcing consumers to become more educated about their finances and banks have the opportunity to mentor and help with more personalized counseling and convenient services, reports the Chief Marketing Officer (CMO) Council.

The new study -- "What's Critical in the Global Bank Vertical" -- included a poll of more than 1,200 consumers and a comprehensive survey of 120-plus bank marketers. Sponsored by Ricoh, the CMO Council study reveals consumers are willing to learn more about relevant products, services, and offerings, but are more interested in information that will help their own bottom line and provide advice about managing their own personal finances more effectively. Consumers are also growing increasingly cynical about higher fees without better service."

CellTrust Announces SecureSMS 3.0 with Secure Mobile Transactions
"CellTrust Corporation, the recognized worldwide leader in secure mobile messaging and communication (www.celltrust.com), announced today the launch of SecureSMS 3.0 with Secure Mobile Transactions, for secure mobile communications and a variety of transactions including mobile banking, commerce, and healthcare.

CellTrust SecureSMS 3.0 provides mobile operators and enterprise customers with the infrastructure and software needed to process secure mobile transactions, without the need to purchase and maintain their own hardware or develop additional software for every handset. The Secure Mobile Transactions Server infrastructure and software is available as a hosted solution or as an enterprise solution where the transaction server and all of its data are located inside the customer's data center."

International Mobile Banking Updates - Oct 16

Future lies in mobile banking, says SBI
"Every banker dreams of being able to introduce an initiative that no one has done before, when he or she gets to the helm. What is your dream?

I am too much of a practical person, so I look at it from what can be done. But having said that, I feel we need to do something more in the space of mobile banking. We need to make it much more popular than it is right now because that is the banking of the future. Mobile banking might have failed to take off and this is not because of lack of systems and procedures. Those things are in place. It is just that the general public is not very convinced about mobile banking. Bankers have to play a major role in popularising this. Otherwise, the future of banking will bypass India. I think, going forward, mobile banking will be more preferred than internet banking."

Mobile Banking Services Launch Chart a New Era
"THE launch last week of mobile banking services by Econet Wireless Zimbabwe and Telecel Zimbabwe has charted a new era in delivery of banking products to the public, analysts have observed. Zimbabwe, which has for long lagged behind in terms of ICT development, seems to have turned a new corner, with new forms of banking anticipated to foster financial inclusion of the unbanked population."

FNB rises to dominant position in mobile banking for Southern Africa
"As local and international banks roll out technology to provide efficient and remote banking services in Africa, South Africa's First National Bank (FNB) has managed to dominate the Southern African region. Outside of South Africa itself, First National Bank (FNB) has expanded the eWallet mobile banking service to Botswana, Lesotho, Namibia, Swaziland and Zambia, with plans under way to expand the service to more countries in the region."

Mobile Banking Zooming In Australia: In 10 Years will it be Ubiquitous?
"Is it possible that within 10 years, mobile banking and mobile payments will be entirely ubiquitous? Careful with those “In 10 years...” predictions. This reporter has heard that in 10 years, America will be on the metric system, cars won’t run on gasoline and the Minnesota Vikings will win the Super Bowl. However, George Lawson, head of merchant acquiring for Westpac, believes that in 10 years mobile banking will have made quite a dent."

CUA to overhaul online, mobile banking
"Indian-based IT services company Tata Consultancy Services (TCS) has expanded its scope of work with CUA, taking out the contract for the new online banking system. TCS also won a contract with CUA this year to replace the credit union's home-grown core banking system with the BaNCS platform. CUA chief Chris Whitehead said that the selection of TCS for the online revamp made sense given its existing work on the core banking system."

Citigroup Inc. (NYSE:C) Makes Mobile Banking Deal
"Citigroup Inc. (NYSE:C) has entered into a joint venture with the telecommunications provider America Movil to provide Latin Americans with mobile banking services. The alliance named Transfer will involve an investment of $50 million, and will begin in Mexico by the first quarter of next year."

Mobile Banking Updates - Oct 12

Tyfone Dissects Mobile Banking Terminology Confusion
"From Google (News - Alert) Wallet to Visa Wallet to the Isis Wallet, there has been no shortage of news about mobile banking, electronic wallets and NFC this past summer. But, according to Siva Narendra, president of Tyfone – a leading provider of mobile banking technology – there exists a lot of confusion surrounding the terms mobile wallets, electronic wallets and NFC, causing the three to incorrectly be used interchangeably. Recently, Narendra decided to take a stab at clearing up the air a bit."

Nigeria: How 'Mobile Money' Will Boost Nigerian Economy
"The Central Bank of Nigeria (CBN), in order to achieve its cashless policy for the country, recently licensed some operators to deliver the mobile money services in Nigeria. In this interview with Mr Tayo Oviosu, the Chief Executive Officer of Pagatech, a mobile payment service provider, he explained how the adoption of this mode of transaction would benefit Nigerians."

Advanced Merchant Solutions Launches Mobile Banking Solution for Apple's Mobile OS
"Advanced Merchant Solutions (MerchantAnywhere), a provider of solutions for mobile banking, has launched a new payment solution for Apple’s (News - Alert) mobile operating system. MerchantAnywhere officials explained that its Pocket Verifier Professional now available with iMerchant, is designed to help one transfer funds from their customer’s credit card directly into their checking account. The solution is capable of making use of the user PDA’ internet connection to authorize and transfer funds and allows them to conduct business anytime and anywhere."

Key Takeaways from the EFMA 2011 Mobile Banking & Payments Conference (part 2)
"3) Non-bank led innovation in mobile payments - On the mobile payments front, speakers and audience alike agreed that all innovation in this space is coming from non-traditional payment companies. Brands such as Google, PayPal, Apple and Square were omnipresent in all payments discussions, as were European mobile operators KPN, Telefonica/O2 and Orange in respect to NFC trials and commercial launches."

America First Credit Union Expands Mobile Banking with Mobilitifrom Fiserv
"Mobile Banking integrates tightly with America First's Online Banking, delivering a consistent experience across channels--25,000 new users signed up for America First Mobile Banking within five weeks of the expanded service launch."

Fiserv Tops Javelin's Mobile Banking Scorecard
"This week, Javelin Strategy and Research released its 2011-2012 Mobile Banking Vendor Scorecard. The report, now in its third year, provides a detailed analysis and ranking of the mobile banking solutions of 15 major vendors and also identifies the top 10 industry trends.

Vendors were scored in seven areas: market, applications and operating systems; platforms and scalability; basic features; alerts and advanced functionality; back office; security; and reviews, partners and installations. For the second year in a row, Fiserv ranked the best out of the 15 companies. FIS followed closely behind, and Sybase came in third. These three vendors' platforms were also rated the most secure."

SpyEye Trumps Mobile Banking SMS Security Systems
"Researchers from security solutions provider Trusteer have identified an advanced attack method utilizing the SpyEye Trojan which undermines mobile banking SM-based authentication systems.

SpyEye is a particularly nasty piece of malicious software which can harvest credentials for online accounts. The new attack is designed to harvest SMS text messages that contain a one-time use code sent to customers by institutions as an added security measure for clients engaged in mobile banking transactions, making SpyEye an even more powerful tool for stealing financial login credentials."

Mobile Banking Updates - Oct 11

RBC Gets Android-Friendly with New App
"With the launch of its new banking app for Android smartphones, RBC (NYSE: RY) will become the first Canadian bank to fully integrate mobile banking apps on the three most popular smartphone platforms, which also include the iPhone and BlackBerry devices. As of this past Sunday when the Android app launched, RBC’s mobile banking apps have been downloaded 800,000 times and have also received a 4.4 out of five star rating from RBC customers on Android Market."

Guide to Safe Online and Mobile Banking
"The mobile and wireless market is one of the fastest growing markets in the world, and with the recent uptick of interest in tablets, it only promises to continue booming. Consumers are continuously turning to this market to take advantage of faster, more affordable and convenient ways to go about their daily activities, and the industry is beginning to see them take an active interest in online and mobile banking."

U.S. Bank Releases New Mobile Banking Apps
"For customers with iPhones, the new U.S. Bank mobile app replaces the U.S. Bank Mobile Wallet app, which sported a generic iPhone design that lacked color and originality. The old app was developed by a third-party agency while the new app was created in-house. The new look introduces more color and shift in design elements for a better user experience.

In terms of functionality, there were no major changes – it’s still mobile banking as usual. Customers can still use DepositPoint to deposit checks with their iPhones. The new U.S. Bank now uses actual online banking credentials for customer logins – not a six-digit PIN."

Credit Union of Texas taps into mobile via apps
"Financial institution Credit Union of Texas is targeting clients ages 18-30 with a round of mobile products aimed at making banking easier and faster. Credit Union of Texas’ move to mobile stems from the company’s expansion of clients in 2000. The mobile offerings include applications for both Apple and Android devices."

Mobile Banking Ennui
"It was serendipity. We were deep into the production of our annual antivirus, browser and mobile security report. This year's report included considerably more data than previous editions on mobile banking security.

During the vetting process we came across an interesting piece of data. Despite marked year-over-year increases in smartphone adoption, we were not seeing an increase in the consumer adoption of either smartphone banking or smartphone e-commerce. This finding seemed counterintuitive."

Mobile Banking Updates - Oct 9

As Smartphones near a Key Crossover, Mobile Banking Adoption Soars 60%
"Today’s “Let’s talk iPhone” event epitomizes the fascination that Americans have with their smartphones, the same fascination that is leading to an important crossover. In 2011, the U.S. will cross the 50% mark when more than half of mobile Americans will own smartphones vs. standard or flip phones. This has important implications for mobile banking, as half of smartphone owners conduct mobile banking, they are more likely to appreciate the benefits of mobile banking, to regularly make sticky transactions, and far less likely to give up on mobile banking than those with regular mobile phones. In short, smartphone owners make ideal evangelists for mobile banking."

Show me your mobile, I'll show you who you are
"I expect the day will come when if you really wanted to get to know your bank’s customer, all you would need do is tap her mobile phone. Legally, that is. Multiple developments taking place in mobile financial services are turning smart phones into an all-seeing eye — one that can track every move that in some way involves money, even when it’s not changing hands. It can also give your bank a wealth of information to offer all sorts of other services to its customers."

Citi Relaunches Website with Mobile Flavor
"Most banks design mobile sites as shrunken versions of online banking. Citigroup Inc.'s new website instead takes the lessons of mobile and blows them up for a bigger screen."

Aman Narain on Standard Chartered's Custom-Built Internet and Mobile Bank
"For someone who lived in four countries before moving to Singapore, Aman Narain's resume has an unusual consistency -- he's worked for the same employer, Standard Chartered, since joining the bank right out of college. Narain started in corporate banking, worked in investor and public relations, and then rotated through strategy and mergers and acquisitions."

Scotiabank Expands its Suite of Mobile Banking Apps
"More Scotiabank customers than ever before can carry their bank in their back pocket when they download a Scotiabank mobile app. The Bank announced Friday that a Smartphone application is available to customers in 20 Caribbean countries. This complements the Bank's existing suite of apps, now available for iPhone, BlackBerry and Android users in Canada"

Mobile Banking Updates - Oct 6

Mobile Security: Your #1 Threat
"Security concerns about mobile applications may be overblown, some experts say. Mobile users are more likely to compromise their mobile security via browsing and texting behavior than they are through the download of open-source apps.

But earlier this month, when researchers at Trusteer discovered a new Trojan aimed at hijacking banking credentials from users of Google's Android mobile device, concerns about open-source app vulnerabilities resurfaced, suggesting that companies such as Google should be doing more to enhance security."

KeyBank Expands Online Banking Capabilities With Enhanced Bill Pay Services
"KeyBank (NYSE: KEY) is making it easier to pay bills online with an enhanced offering of services that enable customers to send payments faster, avoid late fees and manage all of their payments more effectively. Today, fifty-two percent of Key's customer interactions take place through the web and mobile channels, and Key expects that number to grow. Based on usage and feedback from customers on the services they value most, Key is making significant investments to improve and expand its online banking capabilities as part of its goal to be the primary relationship bank for its customers."

Mobile banking a moving target, with First TN's deposit product latest example
"Here’s the thing about mobile banking: it just keeps on moving. Makes sense, right? But as banks try to offer customers — businesses as well as consumers — new ways to manage their money with mobile devices, the evolving technology and constant new pitches make what defines mobile banking a moving target."

Lloyds TSB improves mobile banking experience
"The improved Mobile Banking service is available across a wide range of smartphones and enables Internet Banking customers to access their money and manage their accounts using the most commonly used features of Internet Banking - and all on mobile optimised screens. Customers can access Mobile Banking through their smartphone's web browser - simply by logging on with their existing Internet Banking logon details."

JPMorgan Chase hires SVP for next generation payments
"JPMorgan Chase has hired Susan Ehrlich as senior vice president of next generation payments to help the firm create payments services and solutions for consumers, small businesses and retail merchants. Ehrlich will report to Jack Stephenson, head of mobile banking, E-Commerce and payments for Chase. Prior to JPMorgan, Ehrlich was president of Sears Financial Services where she managed the growth of an array of credit and payment vehicles."

International Mobile Banking Updates - Oct 5

Popularity of mobile banking surges in Taiwan
"With mobile computing gaining popularity and smart device penetration rate on the rise, an increasing number of banks have unveiled mobile banking services in Taiwan to allow users to handle their finances anywhere, anytime.

According to the newest data of the Institute for Information Industry (III), by the end of second quarter about 4.9 million people in Taiwan accessed the Internet through their mobile handsets, or a penetration rate of 21.3 per cent."

India awaits boom in mobile banking
"A bank need not always be a brick-and-mortar complex with a handful of tellers sitting in tiny cubicles and doling out cash, with armed security guards pacing up and down, and a place where someone always wants to borrow your pen to fill a form. For a bank in Japan, called Jibun Bank, a bank only means a mobile phone in the hands of all the customers. The bank, started in mid-2008, has absolutely no branches, operates only through mobile phones where its customers can perform all possible transactions. The bank clocked more than 1 million customers by May 2010 and posted a deposit growth of Japanese yen 150 billion (approximately $1.95 billion)."

HTC mobile banking phone goes on sale in Chongqing
"HTC Corp (宏達電), the world’s fifth-largest smartphone maker, has begun selling a smartphone in Chongqing, China, that enables mobile payments using near field communication (NFC) technology, aiming to gain a foothold in the fast-growing mobile banking market. The “Jiang Yu banking” phone, priced at 4,680 yuan (US$732), allows remote bill payments and contactless payments."

Mobile Banking advancements
"Mobile banking through Mobile phones has greatly improved communication and the world has become a global banking village. Apart from improvement in communication, mobile service providers have gone a step further to ensure that their subscribers are able to transfer funds using mobile banking."

USAID grants help create a mobile banking system in Afghanistan
"Back in 2002, there were less than 200,000 people in Afghanistan with the access to a telephone line. Today the picture is completely different, with some 15 million Afghans using mobile phones and 85% of the population living within the combined network coverage of the four major carriers. This mass installed base opens up possibilities for mobile banking services."

Kuwait Finance House Bahrain launches mobile banking services
"Among the services available, customers will benefit from the convenience of being able to check their account and/or card statements, make phone bill payments, transfer money between accounts or view their last five transactions.

The Mobile Banking Service provides an interactive experience similar to internet browsing via your mobile handset. Customers who have international roaming enabled on their mobile phones will be able to complete all their transactions from wherever they are, anywhere in the world."

Mobile Money Sparks Banking Boom
"Mobile banking is revolutionising the face of personal and business banking in Africa. There is no need to carry a bank card or cheque book on you. You do not even have to visit the local bank branch to transfer or withdraw money. All you need now is a mobile phone and a SIM card."

Scotiabank launches first mobile banking app for Blackberry, iPhone
"Starting September 30, Scotiabank customers in Barbados will be able to conveniently bank-on-the-go with the new Scotia Mobile App for Blackberry and iPhone. This means that customers in Barbados will have even more freedom to carry their bank in their back pocket when they download the App onto their BlackBerrys and iPhones."

Mobile Banking Updates - Oct 4

SMS Text, mWeb or Downloadable App – Which Deserves the Crown?
"We are in the process of finishing up our annual mobile banking vendor scorecard and we’ve seen some surprising findings come out of the process. One of the questions we asked vendors is: What is the average number of transactions per user per month (across the entire customer/channel base in the US) by mode? Answers varied by vendor but a pattern definitely emerged: In 2011, U.S. mobile banking vendors awarded the crown to the downloadable app based on average number of consumer transactions per month."

Sungard to Unveil Retail Mobile Banking Platform by Yearend
"Sungard, one of the world’s largest software companies, has taken a dramatic turn toward banking innovation.
The company, which counts financial services software as one of its pillar businesses and generates more than $5 billion in annual revenue, launched an Innovation Lab based in Singapore about a year ago, and Sungard tells Bank Innovation that one of the lab’s first byproducts will hit the market this year: a retail mobile banking platform. Sungard expects the first “go lives” for the product in the first quarter of 2012."

SelectCore Launches First Mobile Banking App for Iridium MasterCard
"SelectCore Ltd., a prepaid telecom and financial services transaction processor for the under-banked consumer market, is pleased to announce the launch of the Company's first mobile banking app for Iridium MasterCard. The Company's first generation Blackberry app is available free of charge to registered Iridium Cardholders. The app is secure, easy to use and can be downloaded instantly from the cardholder's online account."

PaymentOne Corporation Announces Industry-First Mobile Banking Program, PayOne FastPay
"PaymentOne Corporation, a global player in mobile payments, recently introduced an industry-first mobile payments program, PayOne FastPay, which guarantees disbursements to merchants in as fast as seven days. Merchants and publishers often used to get frustrated by extended wait periods to receive their cash from mobile payments providers. This new program will help them by dramatically reducing the typical 60-90 day waiting period for payouts required by carriers and other mobile payment vendors."

Intuit Shows Off New Mobile Tools for Business
"Intuit dominates small-business accounting with its Quickbooks software, but the company is also working on tools to help managers of small and medium-size businesses do more from smartphones and tablets when they are away from the office. During its Innovation Gallery Walk last week in Mountain View, California, Intuit showed off several new apps for small-business owners to manage their finances and get things done on the go. For many of the apps demonstrated, Intuit's focus was on creating a "mobile first" approach. Here’s a look at some of the highlights."

Mobile Banking Updates - Oct 2

Only One in Five Consumers Feel Protected From Fraud During Mobile Banking, Survey Finds
"ThreatMetrix™, the fastest growing provider of cloud-based fraud prevention solutions that do not require personally identifiable information (PII), today announced results of a joint study with The Ponemon Institute, “Mobile Payments & Online Shopping Survey of U.S. Consumers.” The survey, which looked at U.S. consumers who self-reported they are active users of the Internet, revealed that only 21% feel they are completely protected against fraudsters when conducting mobile banking activities."

B of A Mobile Payment App Stokes Privacy Fears Among Android Users
"Controversy brewed in the Android Marketplace this week when Bank of America began rolling out a person-to-person payment feature in its mobile banking app. When users downloaded an update to the app that included the P2P feature, they were asked for permission to access their contact list without an explanation of why."

Banking? Thanks, but No Thanks.
"I recently read a rather interesting Harvard Business School study comparing the strategies of two mobile financial service providers in Africa. Wizzit entered the South African market in 2004 with a mobile service that they hoped would make banking more accessible and less frustrating for the poor. After managing to source the technology that would enable mobile banking on even the most basic phone, they ran into regulatory hurdles, and scrambled to find a banking institution to partner with."

American Express Looks to Dive into Mobile Banking Pool
"American Express (News - Alert) has decided it wants to have a higher presence in mobile banking, online commerce and such in emerging markets, according to Executive Vice President David Messenger who says deals in China and “investments in or purchases of smaller Silicon Valley startups with valuable technology,” are on the table."

Banks, Telecoms Need to Work Together on Mobile Payments
"Banks tend to look at competitors in the emerging mobile payment space with a wary eye. But after reading the latest mobile payment report, Ernst & Young's "Mobile money 2011," it's easy to draw the conclusion that banks would be better off working with one segment of this group - telecom network providers. Banks and telecom providers at this point are co-dependents after the same thing: a new source of income through mobile payments, to supplement dwindling debit card fees and rising regulatory costs on the one side and flat phone and data plan sales on the other."