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."