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"