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."