"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" 

Tuesday, December 20, 2011

Mobile Banking Updates - Dec 20

RCBC launches Apple mobile banking
"Your bank deposits and other accounts can now be literally just a touch away as Rizal Commercial Banking Corporation (RCBC) has been accredited by the consumer electronics giant Apple to publish the RCBC Mobile Banking application for its customers with Apple devices."

The Banking Security Revolution: Eliminate Social Security Numbers (SSN)
"Javelin Strategy & Research's latest banking identity safety scorecard found financial institutions (FIs) aren't keeping up with growing security demands. As fraud is growing more troublesome, Javelin has had to strengthen the criteria it uses to evaluate FIs and found that prevention, detection, and resolution scores have all eroded. Most importantly, prevention of fraud - which offers the greatest ROI to both consumers and FIs - has fallen precipitously, from 2009 with 79% of FIs meeting Javelin's criteria to only 54% of FIs in 2011. To improve prevention capabilities, Javelin recommends that FIs prioritize authentication and diversify their authentication offerings."

Mobile banking Slow to pick up
"First National Bank (FNB) is on a drive to get clients to make full use of its mobile banking application. But banking services via cellphones may not be the highway to profits that it hopes for, some analysts say. FNB’s app can be downloaded on any smartphone and offers services previously used mainly via the Internet, such as the viewing of accounts, transfers, payments and forex rates."

Nairobi to Host Mobile Banking Security Talks
"From next Tuesday, information technology experts will converge on Nairobi to debate e-payments, focusing on mobile banking security and ATM fraud. For two days, administrators, designers, and analysts drawn from East Africa, Netherlands, South Africa, UK and USA will tackle the subject under 'Combating Emerging Threats in Banking and Payment Transactions in East Africa.'"

Consumer RDC set to take off
"Growth in self-service channel preferences, competitive pressures, and relentless cost reduction demands are vaulting remote deposit capture into the consumer mainstream. Mobile RDC is taking center stage, with 80% of surveyed financial institutions planning or considering a solution, according to a report by Celent."

Sunday, December 18, 2011

Mobile Banking UPdates - Dec 18

Could fees stall adoption of mobile banking?
"Looking to make up the revenues lost as a result of new consumer protection rules put into place this fall, banks are reportedly considering a host of new fees, including ones for mobile banking services.

Banks have wholeheartedly embraced mobile because it is a cost-effective strategy for them although consumer adoption is still low. With several banks reportedly considering adding fees such as a $5 charge for remote deposit capture, the question is how this will impact the adoption of mobile banking services."

Mobile shopping can pave the way for mobile banking
"With the countdown to Christmas well underway, shoppers are turning to their mobile devices in their droves to beat the last-minute high street rush. In fact, the UK trade body for online retailers, IMRG, recently forecasted that Christmas 2011 is when mobile moves mainstream, with 35% of people saying that they plan to do more shopping using their phone this year."

A Flat Earth Perspective on Mobile Banking
"My six year old son recently asked me, “If the Romans were so strong and smart and powerful, how come they thought the world was flat?” Good question. The Romans weren’t much of a seafaring people, so in the greater scheme of things, you could say they didn’t get out much. The world might as well have been flat from their very limited perspective."

Mobile apps make banking easy
"Imagine you are eating out with friends one night and when you receive your bill, you suddenly forget if you have enough money in your account to cover this meal. If you don't have enough money in your account, you will be overdrafting, meaning using funds you don't have. If this happens, your bank will pay for this transaction, but will also make you pay the money back and charge you an additional fee."

Cachet Financial Solutions Integrates Mobile Deposit Offering with Mobile Banking Application from MEA Financial
"Cachet Financial Solutions, a leading provider of remote deposit capture (RDC) solutions, announced today that it has integrated its mobile deposit solution with the Mobile Access mobile banking application from MEA Financial Enterprises, LCC, a national leader in financial services technology. This partnership enables any credit union or financial institution using Mobile Access to deliver mobile deposit capabilities to members and customers using smartphones and tablets. RCB Bank will be the first financial institution to employ the new mobile remote deposit capability offered through this partnership."

Thursday, December 15, 2011

Mobile Banking Updates - Dec 15

Mobile Banking: SMS, App, Web or All of the Above?
"When it comes to providing mobile banking to your members, the first question is: Should you do it? Looking at the increasing adoption rate of smartphones, and the number of competing banks and credit unions who provide their members with a mobile offering ... well, the answer is obvious. Mobile banking is a value-added feature that helps members bank from anywhere, and it's becoming more of a baseline expectation with members."

Telco: Mobile banking
"According a to survey by Aegon Magyarország of its the clients, only one-third of Hungarians use their mobile phones for banking. The share of those using mobiles for communication only is still high.

Only 30% of those queried have a subscription that allows both data and voice communication services, 46% have only voice-based communication subscriptions, while nearly one-quarter use a pre-paid phone card."

Mobile banking to trigger economic growth- Mkulo
"The mobile banking that started nearly three years ago has proved to be a catalyst to economic growth especially in rural areas, the minister has said.Using their mobile phones, consumers and communities take advantage of the mobile commerce innovations, which enable them to conduct a wider range of financial transactions conveniently."

BBK mobile banking is launched
"BBK has launched its new mobile banking service, keeping pace with the changing technology and continuing to be committed towards customer convenience and satisfaction. The new service, which will allow any retail banking transaction to be done instantly from a mobile phone anytime and anywhere with the highest level of security, is available to all customers for free. Customers will be able to perform almost all online banking services from their mobile phones."

Tuesday, December 13, 2011

International Mobile Banking Updates - Dec 13

Britons resistant to mobile banking
"UK consumers and businesses are ahead of the curve when it comes to adopting new technologies, according to KPMG’s latest Consumer & Convergence Report. Both online shopping and the use of social media are more widespread in Britain than in other parts of the globe. However, when it comes to mobile banking, consumers in the UK are more resistant than elsewhere."

Etisalat launches mobile banking in Afghanistan
"Etisalat Afghanistan has announced the launch of its mobile money service, dubbed mHawala. The mobile banking platform is provided by Telepin Software and includes a full range of mobile financial services. mHawala allows customers to check their balance, pay for utilities, receive their salary and transfer funds."

Mobile Banking Will Surpass 140m Users in Latin America by 2015
"Pyramid Research estimates that around 18m users in Latin America use financial services from their mobile devices and that this number may rise to more than 140m by 2015, according to Jose Magana, Senior Analyst at Pyramid Research ( www.pyr.com ) who discussed trends in mobile banking in a live webinar produced by TeleSemana ( www.telesemana.com ) recently."

Vikram Akula handpicks 40 employees of SKS Microfinance for his mobile banking venture
"Vikram Akula has handpicked about 40 employees of SKS Microfinance for his just-launched mobile banking venture in what is being seen as an example of unusual cooperation between a firm and its estranged founder.

Akula, who quit as executive chairman of SKS on November 23, selected these employees after an agreement with SKS, a senior company official said. "All the handpicked employees were relieved on December 1," he said, adding that Akula is not allowed to poach any more people."

Sunday, December 11, 2011

Mobile Banking Updates - Dec 11

Tiny Ameriana Bank Battles Heavy Hitters with New Mobile App
"As it charts its course in mobile banking, Ameriana Bank faces competition in its eastern Indiana footprint from much larger banks that have been offering mobile banking for years, such as JPMorgan Chase and PNC."

Intel, MasterCard, Motorola Mobility Put $18M In Mobile Banking Platform mFoundry
"mFoundry, a company that powers mobile banking solutions for more than 500 banks and credit unions nationwide, is announcing a new round of funding, to the tun of $18 million, from MasterCard (which led the investment), Intel Capital, FIS, and Motorola Mobility. This bring’s mFoundry’s total funding to $40 million."

Fifth Third launches mobile banking apps
"There is now an app for Fifth Third Bank’s mobile services.
Fifth Third, which operates 15 branches in the Pittsburgh area and ranks as the region's 17th largest bank as ranked by deposits, has launched a banking app for use with iPhones, Android devices and BlackBerry smartphones."

Chase Finally Releases Mobile Banking App for BlackBerry With Check Deposits!
"The day has finally come. Chase has released their Chase Mobile app for BlackBerry users (for a very limited number of devices). This new app lets you access your account AND deposit checks with your camera. It will also let you send payments and other features including:"

Thursday, December 8, 2011

Mobile Banking Updates - Dec 8

Fifth Third boosts mobile banking with smartphone apps, texting
"There is now an app for Fifth Third Bank’s mobile services. Fifth Third has launched a banking app for use with Apple products such as iPhones and app launchers for Android and BlackBerry smartphones. The downtown-based bank also announced Thursday it is adding text banking. That allows customers to make transfers and get their account information by sending a text message to Fifth Third."

Android exploits new mobile banking enemy
"With Google Inc.'s Android mobile operating system increasingly finding itself in the sights of malicious software, Canadian banks are facing a new enemy on the mobile frontier.

Reports of Android malware have increased sharply in recent months, with Juniper Networks reporting that as many as 55 per cent of Android applications are not what they seem. It’s a disturbing trend, but financial information is not being targeted in significant way, say banks and industry experts. At least, not yet."

Mobile Banking - It's more than just another channel
"I was in a meeting recently discussing the mobile aspirations of a client. Beyond their initial foray into the mobile space, offering an iPhone app that can do just a little bit less than their current internet offering, my client had not spent much time thinking about mobile. If anything, mobile was something that they felt compelled to get into due to market pressures from competitors who have launched their mobile applications to much fan fair. They consistently referred to mobile in the context of all their other channels and spoke about it as if mobile's sole utility was in replicating previously available transactional processes already available via some of their other channels."

MAKING SENSE OF IT ALL: Mobile banking: a channel in its own right
"It’s becoming clear that mobile banking, if not already commoditized, soon will be. The question for banks is how to differentiate their mobile channel enough so that it not only prevents current customers from leaving, but actually attracts new customers and business. A number of analysts have weighed in on this recently."

Chase Awarded Javelin Strategy & Research's "Best in Class" for Mobile Banking in 2011
"Chase announced today that Javelin Strategy & Research recently awarded them "Best in Class" for mobile banking 2011, beating 24 of the largest retail banking financial institutions measured by deposits. According to Javelin's recently-released third Mobile Banking Scorecard, Chase won by providing a broad range of features and specialty apps to complement its mobile offering, including person-to-person transfers through Chase QuickPay (SM), account rewards, and mobile remote deposit capture via Chase QuickDeposit (SM)."

J.P. Morgan Names New Unit CFO
"J.P. Morgan Chase & Co. will continue expanding and investing in its consumer-banking business, the unit's heads affirmed in a memo that named a new chief financial officer for the consumer bank.

Chase, the retail side of the nation's biggest bank by assets and deposits, hired David Owen, the former head of online and mobile banking at Bank of America Corp., to be finance chief for the unit. He is charged with ..."

Tablet banking on the rise
"As banks work to deliver new tools for account holders, a survey shows that the future of mobile banking may be bigger than a smartphone. In a survey conducted by Oracle Communications, more than 3,000 mobile users indicated there is a very bright future for tablet computers. The majority of people have jumped on the smartphone bandwagon, but when it comes to money management, tablets appear to be the technological tool of choice."

First Citizens' Federal Credit Union introduces mobile banking
"First Citizens' Federal Credit Union announced the release of Mobile Banking, which allows members to access account information, view transaction history, transfer funds, make bill payments and find branch or ATM locations. Once enrolled in Mobile Banking, members may choose from three mobile banking options."

Wednesday, December 7, 2011

International Mobile Banking Updates - Dec 7

Cash-Lite: Mobile Money Expands In Nigeria
"Last week, following regulatory approval from the Central Bank of Nigeria (CBN), the United Bank of Africa (UBA) launched U-Mo, a mobile banking product that will be accessible to more than 80 million people across Nigeria. Now, almost half the country's population will be able to transfer and receive funds using their cellphone -- without having to have a traditional bank account with UBA."

HDFC Bank, Vodafone India launch mobile banking product for rural coverage
"It's a brief moment in the wintry sun for the handful of curious residents of Jhalsu village as a cavalcade of cars descends there on a quiet Saturday morning. Jhalsu is a dusty hamlet with a population of about 3,500 people and is about 35 km north of Jaipur in Rajasthan. The Deputy Governor of the Reserve Bank of India, Dr K.C.Chakrabarty, is here along with senior officials of HDFC Bank and Vodafone India, to have a look at their pilot project on financial inclusion through mobile banking and get a first hand impression from villagers."

HSBC Mobile Banking App Ranks No. 1 in UAE App Store
"HSBC's mobile banking solution received an outstanding vote of confidence from its customers as the app achieved a ranking of No. 1, in the Finance category, on the UAE Apple app store, within 48 hours of launch. The new mobile banking app was also rated amongst the Top 25 most popular "Free" apps.

HSBC UAE recently launched its new Mobile Banking solution in UAE, delivering the bank's Internet Banking platform customised for smartphone screens. HSBC customers, owning any Apple device, now have access to most of the same functions as desktop users via any GPRS, 3G and wireless (Wi-Fi) network. Using the new digital solution, customers in the UAE can view account details and transaction history, transfer funds between HSBC UAE accounts, access exclusive credit card offers in the UAE and worldwide, make credit card and bill payments, view exchange rates, and more."

Etisalat Afghanistan Launches "mHawala" Mobile Financial Services Powered by Telepin Software
"Telepin Software, a leading provider of mobile money transaction platforms, today announced that Etisalat Afghanistan has commercially launched mHawala, its new Mobile Money Services platform. Telepin's Cayman Transaction platform will be used by Etisalat Afghanistan for a full mobile financial services (MFS) offering that includes central bank cooperation, banking ecosystem participation, utility merchant involvement, and salary disbursement, which enables complete mobile banking capabilities and future cross-border money transfers."

Monday, December 5, 2011

Mobile Banking Updates - Dec 5

mFoundry Launches First Hawaiian Bank Mobile Banking
"mFoundry, the most popular provider of mobile banking solutions, today announced it has officially launched First Hawaiian Bank's mobile solution, FHB Mobile Banking.

'We're excited to see such strong demand for our mobile banking solution out of the gate,' said Jaylene Tsukayama, Vice President and Manager for Electronic Banking at First Hawaiian Bank. 'Part of this quick uptake is due to the range of access options we're providing - customers can access their mobile finances via mobile Web, native apps and SMS/text banking - serving the greatest number of customers. We're looking forward to expanding on this foundation with more advanced mobile banking features.'"

Century Bank and Trust Launches Text-2-Win Amazon Kindle Fire Promotion
"Century Bank and Trust is excited to announce the launch of a text-2-win Amazon Kindle Fire promotion. To kick off Century Bank and Trust's mobile banking debut customers and non-customers can text to win a brand new Amazon Kindle Fire! It's easy, just text the word "Bank" to 94594. The text must be received by 12/9/11 at 8PM EST to be eligible to win. The winner will be notified by 12/16/11. Each mobile phone can enter once per day."

New mobile security challenges
"For years, analysts have predicted most Internet users would end up with an all-in-one device that replaces all others. However, as new devices emerge, users are often adopting new technologies without replacing the old, making the sight of somebody with a laptop, a smartphone, and a tablet familiar to many. The rapid adoption of multiple devices on multiple platforms makes securing several platforms at the same time an increasingly complex task."

Pyramid Uncovers Challenges and Opportunities for Banks in the Mobile Commerce Ecosystem
"It's no surprise that the mobile commerce ecosystem is growing rapidly with the number of smartphone users expected to reach 1.3 billion in 2015. Value chains are still in the trial-and-error stages, creating challenges and opportunities for banks and financial institutions looking to enter this market, according to Jose Magana, Practice Leader on Mobile Payments and Banking and Consultant behind Pyramid's new Mobile Commerce Landscape Insight Pack."

The 411 on Mobile Banking for Beginners
"Take the Mobile Banking Plunge? You may be used to checking your balances and making money transfers on your home computer or laptop, but are you ready to make the leap to using your smartphone for banking? While most major U.S. banks now offer mobile banking, banking customers have been slow to switch their banking transactions to their cellphone, particularly those who may not be tech-savvy or who may fear security breaches."

Sunday, December 4, 2011

Mobile Banking Updates - Dec 4

MasterCard Backs And Partners With Mobile Banking Company mFoundry To Expand Reach Of NFC
"After announcing a new partnership with Intel, MasterCard is revealing a new collaboration to help spread the use of its NFC technology through its PayPass program. The credit card giant is making a strategic investment in mFoundry, a company that powers mobile banking solutions for more than 500 banks and credit unions nationwide."

Seizing the Mobile Banking Opportunity
"Feature-rich smartphones, high-speed 4G networks, the availability of downloadable apps and an increasingly mobile workforce have driven a huge uptick in information-based mobile banking services, such as transaction alerts and balance checks. In fact, mobile banking recently has begun to displace online banking for such information-based services."

Century launches mobile banking, 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. 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. Manage money on the go- check balances, transfer money, pay bills, receive account alerts and more."

Mobile Banking Can Pave the Way for NFC
"Google, Visa, MasterCard, Sprint, and even Pentagon Federal Credit Union. The list of early proponents of innovative near field communication tap and pay mobile technology keeps growing. But that brings two questions into sharp focus."

Opportunities for banks in this age of ubiquitous mobility
"Perhaps more startling than the penetration of mobile phones into the developing economies, is the fact that mobile phone users have ignored the natural boundaries of the electricity-grid and in 32 countries today the population of mobile data subscribers exceeds their on-grid populations. According to a recent study by CISCO1, this phenomenon will become visible at a regional level by the end of 2011 when the total number of mobile users in Sub-Saharan Africa and Southeast Asia will exceed their total on-grid populations. By the end of 2013, the same will occur in the Middle East."

Tyfone teams wtih Oregon credit union to offer iCashe Mobile Wallet
"Portland, Ore.-based mobile financial service company Tyfone is working with OnPoint, a credit union also based in Portland, to offer a new mobile wallet product called iCashe Mobile Wallet, the company said in an announcement. The iCashe Mobile Wallet lets OnPoint's mobile banking customers buy gift cards via their smartphones and send them using SMS text messaging or email. OnPoint is the first credit union in the U.S. to offer the iCashe Mobile Wallet, the announcement said."