"Brandon McGee, Industry Insider, Mobile Banking Guru...He is not only the real deal, a genuine industry insider, but also knows exactly what's on the minds of financial service pros as they contemplate the various mobile options." - Jim Bruene, Publisher & Founder, Online Financial Innovations

"Going Mobile. Local executive carves niche as national expert on fast-growing banking-industry technology trend" - Scott Olson, Indianapolis Business Journal (IBJ)

"Brandon McGee, the industry's unofficial ambassador for mobile banking" 

Wednesday, November 30, 2011

Mobile Banking Updates - Nov 30

Advancements in Mobile Banking Technologies Helping Make the Virtual Wallet a Reality
"The near insatiable demand for mobile connectivity along with recent advancements in near-field communication (NFC) and memory card technologies have helped expand the market for mobile banking exponentially in the last few years. In fact, Gartner (News - Alert) estimates that mobile payments will increase to more than $1.1 trillion by 2014, up seven fold from current numbers."

Banks Embrace the Tablet Revolution
"Most financial institutions dragged their feet moving from traditional banking to mobile banking, and from mobile banking to providing a richer experience on smartphone devices. Some banks have learned those lessons, though, and are trying to stay on the cutting edge by rolling out apps designed specifically for tablets."

Banking by smartphone catches on, will increase
"With telephones now serving as de facto personal computers for many, financial institutions are rapidly jumping on the mobile banking bandwagon. 'It’s exploding the way Internet banking exploded a few years ago,' said Debbie Jemison, a spokeswoman for the Illinois Bankers Association. A 2010 survey showed that, while just 27 percent of banks in Illinois offered mobile banking, 89 percent of the others were looking to add it in the near future."

U.S. Bank Unveils New Mobile Banking Strategy
"U.S. Bank has announced several upgrades to its mobile banking strategy, including the debut of a completely new application optimized for iPhone, Android and BlackBerry. 'Customers are blending all of their business into their smartphones, and in many cases, mobile devices are now the first point of entry for consumers,' noted U.S. Bank executive vice president Meheriar Hasan. 'With this new app, we have made banking even more convenient for our customers by delivering service right to the palms of their hands.'"

Mobile RDC product updated
"Mitek Systems, Inc. announced version 3.0 of its Mobile Deposit product that enables mobile-banking customers to make deposits simply by taking pictures of checks with their smartphone cameras. The new version improves the user experience and performance of Mitek’s mobile remote deposit capture product, which now runs on Windows Server 2008 R2. Six of the top ten retail banks in the United States and more than 80 financial institutions are using Mobile Deposit as their mobile RDC application of choice and a cornerstone of their mobile strategies."

Put the X factor back into generation Y banking
"In my previous blog, I discussed the current hype surrounding mobile banking and how a fundamental step change in consumer behaviour means that mobile financial services is undoubtedly more than just a fad. At the same time, there are also those consumers who have grown up with all things digital and don’t know any other way to behave. I’m referring to the growing breed of generation Y consumers and ‘digital natives’ such as those two year olds you see on the train navigating an iPad better than they can put pen to paper!"

Five things you need to know about mobile money
"1. What is mobile money?
The term refers to the ability to perform financial transactions on your cellphone. This includes accessing bank accounts, remitting money and taking payments of any amount without using a conventional bank. So, for instance, you can now pay for your latte with a swipe of your contactless-technology-enabled phone."

Tuesday, November 29, 2011

Mobile Banking Updates - Nov 29

New Corporate Mobile Plans Emerge at JPMorgan Chase, Wells Fargo
"While corporate mobile banking has developed more slowly than consumer mobile banking, new apps are starting to hit the market much more frequently, with JPMorgan Chase and Wells Fargo both introducing offerings in the past few days."

Banks Still Building Business Case for Mobile Banking
"Independent research firm Forrester Consulting recently released a report commissioned by payment solutions provider Clairmail that evaluates the mobile banking strategies of 10 retail banks in North America and Europe. The report reveals that while financial institutions are investing in mobile banking and their strategies are evolving, most of them never really built a good business case for it."

How mobile banking is different from online banking
"Mobile financial services remains perhaps the most exciting topic for bankers today says a new report, Innovations in Mobile at Finovate, written by Celent senior vice-president Bart Narter.

Press releases announcing "the next big thing in mobile" are issued almost daily around the world, and many get starry eyed when talking about the size of the mobile market and how mobile is changing the financial services and retail landscapes. Finovate is a conference that features technology start ups, and this year mobile was prominent as a hotbed of innovation in financial services. Celent notes that mobile functionality is differentiated from internet/web functionality in a few important ways. Some observations include:"

More entrepreneurs embrace mobile banking
"Welcome to our weekly small business blog, which looks at issues affecting the entrepreneurial economy in Northeast Ohio and beyond. Small business owners are becoming increasingly comfortable with banking on the go. The Wall Street Journal says a growing number of entrepreneurs “are tapping into smart phone apps from lenders that let them do a range of jobs, from checking their balances and paying bills to depositing checks.”

Mobile Banking: Just Another Channel Or Fundamental Strategic Shift?
"In the past week I’ve have the privilege of talking to (or listening to) executives responsible for mobile banking at some of Europe’s biggest banks, including Bankinter, Barclays Bank, La Caixa, Lloyds TSB, Nordea and RBS, at Forrester’s Marketing & Strategy Forum and at a conference on Next Generation Mobile Banking hosted by The Banker. I’ve also spoken privately to many other executives over the past few months, including at Forrester’s eBusiness Council meeting this week."

NEW TECH BLOG: Making Sense Of It All
"It seems like there are more banking channels today than on cable TV. And every week brings a news survey on one or more of them, not infrequently with conflicting data. A few weeks ago, for example, the big thing was online banking. Then there was a splash about social media and how that’s becoming a banking channel of sorts. This week, as can be seen, it’s all about mobile."

Monday, November 28, 2011

International Mobile Banking Updates - Nov 28

African Lessons in Mobile Commerce
"There is a frequent assumption that, with technology, Africa always has to learn from more developed countries. But what if it is actually leading the way? Perhaps it has lessons to give rather than to receive. Two newly-published reports on electronic cash, one from Forrester sponsored by PayPal, and another from A.B.I. are outlined in The Register. While in developed countries companies continue to debate when or whether people will use cellphones instead of cash for everyday transactions, in Africa it is already happening. How are they making it work?"

Mobile banking fraudster held; police unearth loopholes
"In a breakthrough related to mobile banking fraud case, Kohima police arrested one person who allegedly managed to squeeze out few lakhs of rupees through fraudulent means (via mobile banking service). Police, who cracked the case last week, arrested Mhao Yanthan (27) a college drop out, resident of Bayavu following a complaint from a prominent Kohima businessman. The victim said an amount of Rs 1.5 lakh was withdrawn from his SBI account by some person(s) without his knowledge."

Mexico dials up new market for cell phone banking
"As if wireless connections, global positioning systems and apps for everything under the sun weren’t enough, cell phones in Mexico are adding another trick to the trade: cellular banking. A new law permitting mobile banking services by cell phone went into effect here in August, swinging open the door to a massive new market for the banking and communications industries."

BPI unveils first mobile banking platform for businesses
"Businesses today need efficient cash management solutions that allow businessmen to dispose of financial bottlenecks by viewing and approving financial transactions on the go. This was the principle that gave birth to the Bank of the Philippine Islands’ (BPI) latest innovation for businesses which it officially unveiled recently—the BPI ExpressLink Mobile."

French bank and carrier team up to bring mobile payments to market
"French banking group BNP Paribas has launched BNP Paribas Mobile, a suite of mobile banking and payments services. BNP Paribas Mobile is the result of a strategic partnership set up in July between the banking group and mobile network operator Orange. The new service includes:"

Smarter than a smartphone?
"Communicating through radio link has come a long way since World War II. With voice calls, text messages, mobile internet access and built-in cameras, today’s smartphone is already a remarkable all-in-one handheld computer — but its potential could be even greater in the developing world. This is particularly true in banking. Asia’s fragmented payments infrastructure and large unbanked population mean that millions lack even limited access to branch-based banking, but rising mobile penetration is creating new options for person-to-person payments."

Mobile banking rises among youth
"Nearly half of Canadian smartphone users, or 49 per cent, are expected to do banking from their devices in the next year or two, a new survey from ING Direct says. In a release, ING said the number reaches 64 per cent when looking at smartphone users between 18 and 34 years old."

Visa is Tapping Huge Growth in Mobile Banking Volumes in Africa
"Earlier this year, Visa (NYSE:V) acquired Fundamo, a leading provider of mobile services for financial institutions and mobile network providers in developing countries mostly in Africa and the Middle East (See Visa Furthers Mobile Banking Push by Acquiring Fundamo). Leveraging its investment in Fundamo, Visa is creating prepaid accounts linked to mobile phones across Africa and the Middle East as the company aims to capture transactions from a majority of people in these regions who are still unbanked or under-banked."

Comparison: Zimbabwe’s mobile banking services transacting fees
"In Zimbabwe, those in tech (and banking) will remember 2011 as the year of mobile banking. Not in the sense of the use of mobile banking services by Zimbabweans, but more that it’s the year almost every financial institution and all mobile operators launched. One of the issues that have slowed adoption (or at least that discouraged some of us) is the cost of transacting. Last month for example, we compared the transacting costs of EcoCash to Safaricom’s M-PESA in Kenya and the conclusions we drew were that EcoCash was priced quite high."

Sunday, November 27, 2011

Mobile Banking Updates - Nov 27

Mobile Banking Usage Hitting Stride, Bank Innovation Data Shows
"If you are waiting for mobile banking to take off, wait no longer. The latest Bank Innovation Monitor data shows that usage frequency by consumers of mobile banking services is starting to hockey-stick higher. According to Bank Innovation Monitor 3Q11 data, the usage frequency of the most common mobile banking tool -- check account balance -- climbed to nearly two to three times a week versus close to once a week in the first quarter of 2011. "

Mobile banking: the substance behind the hype
"There has been a lot of debate lately as to whether mobile banking and payments are more than just hype, with cynics purporting that consumer adoption will not take off. While consumers may not be rushing to get their hands on the latest banking app (yet), there is no doubt that a step change in consumer behaviour is taking place."

Mobile banking and social media key to engaging 'Generation Y', report says
"Mobile banking and social media are both key to financial institutions engaging effectively with ‘Generation Y’ banking customers, a new report has revealed. A study by Efma and in conjunction with Oracle showed that the quality of engagement and communication in real-time are important parts of a successful Generation Y strategy."

mopay's Mobile Banking Platform now Supports HTML5
"With HTML5 gearing up to be the new standard of code to create desktop and online applications, mopay, a company known for its innovative payment solutions for online merchants, has upgraded its mobile banking platform to support HTML5 services and games. By opening up new ways of integrating media into website and Web apps with no additional plug-ins, HTML5 is being considered as the hottest cross-industry trend for online companies worldwide."

Tuesday, November 22, 2011

Mobile Banking Updates - Nov 22

Corporate Mobile Banking: A Look at J.P. Morgan ACCESS Mobile
"A new report from Aite Group analyzes the importance of corporate mobile banking as a critical component of any bank’s corporate-banking-technology strategy. The report highlights the current state of corporate mobile technology, and analyzes the key strengths and planned roadmap for J.P. Morgan ACCESS Mobile."

U.S. Bank Customers Get Mobile Banking Upgrade
"U.S. Bank recently released a new mobile banking application that significantly upgrades the mobile banking experience for all customers. The upgrade offers improved features and customer experience for iPhone, Android and BlackBerry. The new app, available in app stores now, begins a series of upgrades planned for U.S. Bank mobile banking over the next several months."

6 Ways To Make Mobile Banking Work For You
"Banking via mobile phones has skyrocketed in recent years, says Mary Monahan, executive vice president and research director for mobile at Javelin Strategy and Research in Pleasanton, Calif. A Javelin report released in October found that in the preceding 12 months, the percentage of mobile phone users conducting banking rose from 19 percent to 30 percent."

Mobile Tech and Advisors, Part 1: Its Place in the Business
"In a June 2011 report, the Yankee Group predicted that there will be 500 million mobile-banking users globally in less than four years. And while it is true that some people may never choose to bank or manage their investments using their mobile phones due to security, privacy or technology concerns, within a few years these people will be a small minority."

Global Online Money Transfer Company, Xoom, Launches Mobile Optimized Site to Reach Users on the Go
"Xoom.com, the fastest growing online money transfer company, today announced the launch of its fully optimized mobile site that enables users to send money worldwide, right from their mobile device."

Monday, November 21, 2011

International Mobile Banking Updates - Nov 21

Visa, Fundamo unveil emerging markets MCommerce product
"Visa, the world’s largest credit and debit card network, has unveiled a new product that allows people to access a prepaid account through their mobile phone. The product, which appears to be nameless, was developed in conjunction with Fundamo, a leading South African mobile money platform bought out by Visa for $110m earlier this year."

Global Banks Offer Surprisingly Few Good Mobile Apps
"The mobile applications of Deutsche Bank and the French bank Caisse d'Epargne come out as winners in a benchmarking of a total of almost 200 mobile apps, offered by the world´s top 50 banks (see table below). In the MyPrivateBanking survey Deutsche Bank’s apps scored especially well for the comprehensive content and the integration with other online media like Facebook, Twitter and the bank’s own website."

Mobile banking on the rise among young Canadians
"Nearly half of Canadian smartphone users, or 49 per cent, are expected to do banking from their devices in the next year or two, a new survey from ING Direct says. In a release, ING said that number reaches 64 per cent when looking at smartphone users between 18 and 34 years old."

Rural Women Banking By Mobile Phone
"Collecting the monthly subscriptions for her co-operative has always been a headache for Thelma Nare, 41. This is because Nare lives in Tshitshi, Plumtree in rural Zimbabwe, about 60 kilometres away from the humdrum of the nearest town centre where banks are located."

Wednesday, November 16, 2011

Mobile Banking Updates - Nov 16

Chase Boasts Best Mobile Banking, Says Javelin
"After analyzing the mobile banking offerings of the top 25 retail banks by deposits, Javelin Strategy & Research has declared that JPMorgan Chase has the best, followed closely by Wells Fargo and Bank of America.

The research firm found that Chase offers more mobile banking features than any other bank, including person-to-person payments and personal financial management. The last two years in a row, USAA won this accolade. This year, Javelin researchers evaluated the 23 of the top 25 banks that offer mobile banking. (This is an increase from last year, when 19 of the top 30 banks had it.)"

More Banking Consumers Going Mobile and Getting More Digital
"Tablets, smartphones and mobile devices will increasingly become the primary tools used to access online banking services, and young adults are the most likely to carry their bank in their pockets — but a growing number of other age groups are likely to join them in the very near future. Those are among the findings of Intuit Financial Services Fourth Annual Financial Management Survey, a study fielded in October 2011 involving 1,000 participants across the United States."

Capital One launches sweepstakes to drive mobile banking adoption
"A new mobile sweepstakes from Capital One lets the brand engage with customers in a fun way while encouraging them to try its mobile banking services. Capital One Financial Corp. offers a spectrum of mobile banking services, including apps for both iOS and Android, a feature-rich mobile site, text and voice alerts."

Jumptap Releases Wave Two of Its Ongoing Understanding Mobile Audience Research
"Today, Jumptap, the leader in targeted mobile advertising, released its Wave Two in an ongoing proprietary research series Understanding Mobile Audience. This Wave, based on data from comScore, shows that tablet owners are almost as likely as PC and laptop owners to use their tablet device to make purchases. Sixty three percent of tablet owners make purchases using their tablet device as opposed to the 83 percent of PC owners who do the same. This report follows Jumptap's Wave One in its Understanding Mobile Audience series, which focused on automotive audience data."

Citi banks on mobile alerts for corporate clients
"Financial institution Citi is making its email alert program mobile-friendly after seeing an increased need from consumers to manage their accounts via the handset. The new alerts program can be used by Citi’s corporate treasury service clients and commercial card holders. The alerts program builds on Citi’s extensive mobile strategy for both consumer and business clients with services including applications, alerts, mobile Web sites and advertising."

A Whole Bunch Of Wireless Firms Are Going Into Mobile Banking
"The recent announcement from Canadian mobile operator Rogers Wireless—that it applied to the Minister of Finance to become a bank—confirms that we’re seeing a new trend. Rogers says it has no plans to 'become a full-service deposit-taking financial institution,” but is “actively looking at the mobile payment category.' By applying for bank status, Rogers is serious about being part of the mobile payments space."

Turkey is leading the mobile revolution in the Middle East
"Developing markets are gaining speed and Middle East countries with young populations are at rise. With populations that are truly enthusiastic towards innovation, they are coming on strong in the technological market. Lately, emerging markets’ key focus area has been mobile. Since 2002, mobile penetration has grown 321 percent in developing countries. Meanwhile, it’s only grown 46 percent in developed countries in the same time period."

Meriwest Credit Union Members Enjoy Enhanced Mobile Banking Upgraded iPhone and Android Apps result in 2,500 new downloads
"With over 2,500 new downloads in the past month, Meriwest Credit Union members utilized their Smartphone and upgraded or installed a new version of the Meriwest Mobile Banking application on both the iPhone and Android platforms. The upgraded versions provide enhanced usability, more detail in transaction histories and access to built-in financial tools."

Century Bank and Trust Launches Mobile Banking and Account Alerts
"Century Bank and Trust is excited to announce the launch of free Mobile Banking and Account Alerts. Mobile Banking and Account Alerts put customers in the know and in control 24/7. Manage money on the go- check balances, transfer money, pay bills, receive account alerts and more. With busy schedules and lifestyles, managing finances can be a challenge. Now Mobile Banking and Account Alerts allow customers to stay on top of their finances anytime, anywhere from their cell phones."

Tuesday, November 15, 2011

Mobile Banking Security - Nov 15

BofA on Mobile Risk and Security
"Bank of America's Keith Gordon says securing the mobile channel is much like securing any other banking channel: Controlling risks requires layers of security and controls. But educating customers plays a key security function, too.

Mobile banking has quickly become a primary channel for Bank of America. But the $1.45 trillion bank says mobile adoption and mobile interfaces are changing, and as a pioneer in the mobile arena, BofA is taking strides to stay ahead of the curve."

How safe is mobile banking?
"As more and more aspects of our daily lives depend on the internet, the number of bank account providers offering online banking 'apps' has been rising. But is managing your bank account on a smartphone a good idea?

Lloyds TSB recently launched a free app allowing customers to check their balances, make transfers between Lloyds TSB accounts, pay bills and locate nearby branches and cash machines. It says the app has been downloaded more than 360,000 times in its first month - a clear sign that people welcome the speed and convenience that mobile banking can provide. "

McAfee Warns Consumers of the "Twelve Scams of Christmas"
"Tis the season for consumers to spend more time online - shopping for gifts, looking for great holiday deals on new digital gadgets, e-planning family get-togethers and of course, using online or mobile banking to make sure they can afford it all. But before logging on from a PC, Mac, or mobile device, consumers should look out for the "12 Scams of Christmas," the dozen most dangerous online scams this holiday season, revealed today by McAfee."

Mobile Banking: Consumer Education Needed
"In a recent survey of the United States' top 25 financial institutions, Javelin Strategy & Research found that mobile banking and mobile payments are catching on.

Most institutions appreciate the value of mobile offers; 23 of those top institutions offer some sort of mobile-banking service - SMS/text, downloadable applications, WAP/browser or a combination of all three, also known as a "triple play." That's an improvement from 2009, says Mary Monahan, managing partner and research director at Javelin, when less than 50 percent of the same banking institution set played active roles in the mobile space."

Monday, November 14, 2011

Mobile Banking Updates - Nov 14

Tablet: A 'Game Changer' for Mobile Banking
"Javelin's Mary Monahan says the mobile tablet will revolutionize banking and payments. Mobile banking and mobile payments are expected to see exponential growth in 2012. Mary Monahan, managing partner and research director at Javelin who oversaw development of the 2011 Mobile Banking Financial Institution Scorecard, says mobile banking is one area where consumers, across the board, have high satisfaction rates. And that means financial institutions cannot afford not to jump on the mobile-banking bandwagon. "Mobile banking is a must-have now," Monahan says."

Lloyds TSB launches mobile banking app across four platforms
"Lloyds TSB has launched a new mobile banking application that will be downloadable on Apple, Android, BlackBerry and Nokia smartphones. Most banks and financial institutions are relying on mobile banking apps to expand their accessibility and bring their clients the chance to manage their money ‘on the go’. However, Lloyds TSB is the first UK banking app to be launched in all four app stores simultaneously. The new mobile banking app has had more than 360,000 downloads so far, demonstrating its popularity."

People's United Bank Expands Its Relationship with FIS' Mobile Financial Services
"FIS(TM) FIS, the world's largest provider of banking and payments technology, today announced that People's United Bank has selected FIS' Mobile Financial Services platform. People's United Bank will deploy the solution in support of a new mobile banking channel it plans to add to its current delivery channels for retail customers."

Bank Companion Announces Apple iPad Integration for Jack Henry's Silverlake System
"Bank Companion, a leading provider of mobile banking software to banks, community banks and credit unions around the world today announced integration of the Apple iPad with the Jack Henry Silverlake system. Commenting on Bank Companion's availability on the Apple iPad for Jack Henry's Silverlake system, John Rovito, Bank Companion's Senior Director for Sales & Marketing stated:"

Infographic: Mobile Apps and Customer Engagement
"ClickFox has put together an infographic on the effectiveness of mobile apps for customer engagement. If you're deciding whether your business need a mobile app, you might want to take a look at this as additional data. If you're in dining, maybe not. If you're in mobile banking, and looking at an iOS app, maybe so. The numbers for the infographic are taken from ClickFox's 'Mobile Apps Consumer Survey' from October 2011."

Sunday, November 13, 2011

Mobile Banking Updates - Nov 13

Javelin's Third Annual Report Reveals the Mobile Offerings of Winners JPMorgan Chase, Wells Fargo, Bank of America, and Others
"Javelin Strategy & Research's latest report -- 2011 Mobile Banking Scorecard: Money Begins to Move -- evaluates the abilities of financial institutions (FIs) to meet consumers' growing mobile banking needs as they evolve from mobile account monitoring to mobile money movement and beyond. Javelin's third Mobile Banking Scorecard examines the 23 mobile banking offerings of the 25 largest retail banking FIs and identifies the best performers in the areas of mobile access, general features, SMS text features, marketing and security. The report spotlights emerging mobile banking trends and outlines the strategies that FIs must deploy to stay ahead of -- and satisfy -- customer demands."

Amex to Invest $100 Million in Digital Commerce Startups
"The New York-based credit card company unveiled its plan on Tuesday, saying it would use the funds to invest in early-stage startups involved in digital commerce, including in mobile payments and online marketing. Partnerships with early stage firms will help 'accelerate American Express's digital transformation,' said Harshul Sanghi, managing director of the company's Enterprise Growth Group, in an interview on Monday with American Banker."

"Beam Me Up" - RBS Citizens Expert to Discuss the Evolution of Mobile Banking for Commercial Clients
"'What was only a dream in the days of Star Trek is now a reality to today's small business owners,' says Jim Gifas, Executive Vice President and Head of Global Transaction Services Solutions U.S. of RBS Citizens.'"Because small business owners so often must be out of their offices meeting clients and building their businesses, they have been exceedingly quick to adopt mobile banking technology.'"

Midwest Bank goes mobile: Company to offer banking app
"Mobile banking has arrived in Freeport, via a new app from Midwest Bank. The addition of Midwest Mobile Banking enables a customer to complete most banking tasks via their smart phones. 'We were really surprised how many of our customers used our telebank service and over the past eight to nine years, use of the online banking services has increased exponentially,' said co-CEO Mark Wright."

Mobile Payments Offer Financial Institutions Opportunities With the Unbanked, Pyramid Finds
"A growing ecosystem around mobile commerce and mobile payments has created new opportunities for financial institutions. Decreasing costs and wide availability of mobile devices now allows financial institutions to effectively reach the 50 percent of the population that remains unbanked, according to Jose Magana, Senior Analyst and Pyramid's Practice Leader for Mobile Payments."

Thursday, November 10, 2011

Mobile Banking Security

Mobile security: is your smartphone a target?
"Exploits, vulnerabilities, threats and attacks. These are words long-associated with the PC, but only recently applied to smartphones and tablet computers. We — especially IT professionals — know that these devices are really pocketable computers. But there is something different about them that makes our brains think, if only for a minute, that they’re immune."

With mobile banking on the rise, security should as well
"Smartphone and tablet users may need to consider greater mobile security software, as a new report from comScore shows 32.5 million Americans accessed a banking account via the internet through the end of the second quarter of 2011. This is 13.9 percent of all mobile device users."

Mobile banking popularity does not mix with cyber security ignorance
"A big boom in the mobile banking app market this year means more consumers are comfortable with logging online to check their stocks and statements. However, ambivalence among smartphone users toward cyber security and malware could spell disaster.

Analyst comScore revealed more than 32 million Americans were mobile bankers this year. Some 12.7 million went one step further and downloaded a banking application. Credit card apps were favored. The segment saw a 43 percent jump over its performance last year; 6 million people downloaded them in 2011."

Wednesday, November 9, 2011

International Mobile Banking Updates

Zimbabwe: Local Mobile Banking Rises
"THE use of advanced electronic transaction processes has grown significantly in this country, reflecting rising confidence in the banking sector by the transacting public. According to the Reserve Bank of Zimbabwe Governor Dr Gideon Gono, during the period January to August this year, the financial sector recorded electronic transactions worth a cumulative US$21 billion. This represents a 62 percent increase from the US$13 billion recorded during the same period last year."

Aussie Mobile Apps Growing Popularity in Global Wealth Management
"Global cell phone users are making mobile banking and wealth management applications one of the hottest items in an otherwise soft world economy. The growth in usage is enormous. The number of people using mobile financial apps to check their bank accounts and credit cards grew almost 50% in the first 6 months of this year.

A recent study by comScore, a leading US company keeping track of activity in the digital world, showed credit card users making bank visits via the mobile app overwhelm people using a computer almost two to one. This mirrors a recent statement from Facebook regarding mobile users demonstrating the pervasiveness of mobile app usage."

Tuesday, November 8, 2011

Mobile Banking Updates - Nov 8

RBS Citizens Presents Mobile App Case Study to Senior Financial Executives in Pittsburgh on November 8th
"On November 8, RBS Citizens will present a case study on its accessMOBILE(TM) smart phone banking app for commercial clients at the Financial Executives International meeting in Pittsburgh. During the presentation, Matt Richardson, head of Product Solutions U.S., GTS Americas, RBS Citizens, will discuss the development and launch of the application and the bottom-line results that both small- and mid-size organizations have realized since downloading."

Report Shows U.S. Mobile-Banking Use Is Up 45% Since End Of Year
"Use of mobile financial services rose sharply during the second quarter compared with the end of last year, according to comScore’s latest mobile banking adoption research. Some 32.5 million Americans accessed banking information using mobile devices during the quarter, representing 13.9% of all mobile-phone users, the survey found. Of that total, 12.7 million mobile subscribers used mobile banking applications, up 45% from the fourth quarter of 2010."

Wells Fargo CEO Mobile Deposit Service Makes Banking Easier for Commercial and Corporate Customers
"Wells Fargo & Company WFC +0.08% said today it has launched the CEO Mobile(R) Deposit service, designed specifically for commercial and corporate banking customers. The CEO Mobile Deposit service is accessible by downloading the CEO Mobile iPhone App at the iTunes store. The new service allows customers to capture check and money order images and deposit funds, using an iPhone (3GS and above), to their Wells Fargo commercial and corporate bank accounts anywhere, anytime."

Visa Europe acquires 8.8% stake in mobile banking and payments platform Monitise
"UK-based mobile banking, payments, and commerce provider Monitise has received a £24.7m strategic investment from Visa Europe, the membership association comprising more than 4,000 European banks. Visa Europe operates independently from Visa Inc. since the latter's IPO in 2007.

Monitise offers white-label, platform-agnostic mobile money software and services to banks and financial institutions. Its partners include Visa Inc. in the US, RBS Technology Services in the UK and the US, Hong Kong bank-consortium JETCO, Visa International in India, and the Central Bank of Nigeria, which recently granted Monitise a license to provide mobile payments platforms to banks."

Natwest 'glitch' downs phone and internet banking
"Natwest's phone, mobile and internet banking systems have been downed by an IT problem and account balances have not updated overnight. The system was due to undergo maintenance between 01:00am and 4:30am on Saturday morning, but a fault occurred and the systems are not accessible, Natwest press officer Michael Strachan told ZDNet UK on Saturday."

Monday, November 7, 2011

Mobile Banking Updates - Nov 7

Consumers Want to Bank by Tablet: Survey
"Consumer demand for tablets, tablet apps and banking via a tablet computer such as an iPad is high, according to a survey of 3,000 mobile phone users around the world that Oracle released this week. Smart phones are the reigning mobile device — nearly 70% of mobile users have them. But 16% of mobile customers around the world have bought a tablet computer and another 41% plan to purchase one in the next 12 months."

Huntington Bank Unveils iPad App
"Huntington Bank has launched a native iPad application that extends the bank account access across more mobile channels.
The Huntington Mobile for iPad app made its first appearance in the Apple App Store yesterday and it’s offering the same mobile banking capabilities as the iPhone version, except they’re experienced through a much larger screen."

Advantages of Integrating Mobile Banking into Banking Habits
"With banks striving to improve their online and mobile presence as best they can, some even promote themselves based on their mobile apps. Students have the biggest advantage in this arena. As a young adult well versed in technology and mobile activities, the advancements that companies introduce are really geared toward you. Therefore, you should learn how to best implement mobile banking into your banking habits."

Intuit Survey: Mobile Banking to Explode
"More smartphones in more hands add up to a looming explosion in mobile banking. That is the vivid conclusion of a new report issued by Intuit Financial Services, the Intuit group that develops products to get credit unions and banks online and mobile. An important finding in the research is that generations matter when it comes to mobile banking: 18-32 year olds are three times more likely to adopt mobile banking than older users are."

Thursday, November 3, 2011

Mobile Banking Updates - Nov 3

Mitek Systems: My Favorite Way to Play the Mobile Banking Boom
"Back in January, I revealed that the mobile banking industry was in a period of rapid transformation. And yet, most investors were completely unaware. Fast-forward and not too much has changed. Sure, Google’s (Nasdaq: GOOG) launch of its highly anticipated near-field communications (NFC) application – Google Wallet – has people buzzing about the potential for mobile payments. But as my colleague, Justin Fritz, recently revealed, mass-market adoption for NFC isn’t happening as quickly as predicted."

Mobile Banking App Ideas Rewarded by Monster Offers in "Pitch That App!!!" Contest
"Monster Offers, a leading mobile banking solutions company and Daily Deal aggregator, announced today its sponsorship of the “Pitch That App!!!” contest hosted by Iconosys. Monster Offers in conjunction with ZalaPay™ will award a $500 pre-paid ZalaPay card to the person who showcases the best mobile application idea that integrates mobile payments and mobile banking solutions."

Killer App may not be an app after all
"Over the course of the past several months, we have written profusely about the adoption rates of mobile banking on mobile devices. These devices have been segmented into ‘feature phones’ (that is a fancy way of saying a non-smartphone), Smartphones, and tablets. Between 2009 and 2010, we saw a significant pause in the adoption of mobile banking and online commerce on both feature phones and it was effectively non-existent for tablets. However, in 2011, we saw a significant increase in the use of mobile banking as well as an astonishing penetration of tablets into the marketplace."

Secure Mobile Banking Technology Available for Sale at Upcoming ICAP Patent Brokerage Fall 2011 Live IP Auction November 17th in San Francisco
"ICAP Patent Brokerage, the global leader in intellectual property brokerage and a division of ICAP plc, the world's premier interdealer broker, and ICAP Ocean Tomo Auctions, are offering for sale technology related to secure mobile banking at its upcoming Summit on Patent Monetization and Live IP Auction November 16th & 17th in San Francisco. The Lot is owned by KeyZap Inc. and includes two US patents and six applications."

Wednesday, November 2, 2011

Mobile Banking Updates - Nov 2

Thank You, Steve Jobs, for Paving the way for Mobile Banking
"Amidst the torrent of eulogies and outpouring of retrospectives on the late Steve Jobs (News - Alert), industry observer Catherine New strikes a thought rarely covered: Along with the Mac and iPhone and iPad and general coolness in technology, Jobs also revolutionized our money and the mobile banking industry."

Customer management: Mobile vs traditional banking channels
"I have been travelling recently, conducting a series of meetings and interviews with customers and prospects from around the globe and there seemed to be a common theme – everyone is excited and investing in mobile channels. But is this at the expense of our traditional face-to-face channels?"

SilverCloud Systems Surveys Its Client Base to Find Mobile Vendor Leaders
"Who is in the lead in terms of outfitting credit unions with mobile banking tools? SilverCloud Systems decided to answer that question by surveying its customers. 'We wanted to know who the major players are,' said Scott Cornell, CEO of the New Hampshire-based provider of knowledge management software."

My Favorite Way to Play the Mobile Banking Boom
"Back in January, I revealed that the mobile banking industry was in a period of rapid transformation. And yet, most investors were completely unaware. Fast forward and not too much has changed. Sure, Google’s (Nasdaq: GOOG) launch of its highly anticipated near field communications (NFC) application – Google Wallet – has people buzzing about the potential for mobile payments. But as my colleague, Justin Fritz, recently revealed, mass-market adoption for NFC isn’t happening as quickly as predicted."

Banking the unbanked population thru mobile-banking: Nadeem Hussian
"Nadeem Hussain is President & CEO Tameer Microfinance Bank. He has established the bank in 2005 and increased its operations and business throughout the country with innovative products and advanced business model. He was selected ‘Leader of the Year’ by an international panel of microfinance thought leaders at the Sixth Annual Global Microfinance Achievement Awards 2011."

Tuesday, November 1, 2011

Mobile Banking Updates - Nov 1

How 10 mobile banking leaders make it pay
"Is mobile banking worth chasing? That’s a key question facing bankers these days, given the cost of establishing a mobile offering and the accelerated pace at which the mobile landscape is evolving. The short answer is “yes”—if you go about it right.

A flurry of activity has swept mobile banking lately, with banks, telephone service providers, payment companies, and non-traditional players all vying to establish market position. As with any relatively new channel, banks have taken widely divergent paths in developing and rolling out their mobile offerings. Some have struggled to make any impact, but others have emerged as market leaders."

Kaching Ushers In New Era of Mobile Banking
"The Commonwealth Bank of Australia has broken new ground in the advancement of mobile payments by introducing a new iPhone application that allows users to pay friends or businesses using Near Field Communication (NFC), Facebook identification, an email address or a mobile phone number."

Why Browser-Based Mobile Banking Isn't Going Away
"S&T Bank's plowing into mobile banking in a major way, adding a new S&T mobile banking app for iPhone, Android and Blackberry. But it's also bullish on its browser-based services, which are still of almost equal popularity to smartphone apps."

FNB uses iPads and apps to make banking more convenient
"Core Group, the Value Added Distributor (VAD) for Apple in Southern Africa, are pleased to announce that FNB will now be providing their customers with iPads, at a reduced rate, to increase accessibility to the FNB app and offer greater mobility and convenience when banking. Qualifying FNB customers will be required to select a new pricing option for this special offer."