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."