Now's The Time To Ask Your Banker Some Awkward Questions
"It's a good time to look for banks that provide services you need while helping you avoid fees and reach financial goals. This could be challenging because of changes in the banking industry. As banks continue to adjust bank account terms to respond to new banking regulations, now is a perfect time to investigate your options and ensure you don't wind up paying more for the same services."
Commercial Mobile Banking: Changing the Way Money Works
"Commercial banking transactions represent the largest bank transactions and they can be the most cumbersome to process. With mobile technology advancements financial institutions have new opportunities for streamlining the process, being competitive and adding new revenue. Being able to provide executives with secure, mobile access to the largest accounts they manage is a vitally important service that commercial banks can offer for their largest customers and transactions."
EMPLOYERS(R) National Poll Reveals Small Business Mobile Technology and Social Media Trends
"With the continued proliferation of mobile devices and business applications, America's small businesses continue to leverage emerging technologies to help run their day-to-day operations more effectively and efficiently. According to a recent EMPLOYERS(R) Small Business Opinion Poll, more than one-third (38 percent) of small business decision-makers use smartphones or tablets to help manage their businesses each day."
Research and Markets: Internet Banking & Mobile Banking - global mobile payment market was $10 billion by the end of 2010 and expected to grow to $63 billion in 2014
"Research and Markets has announced the addition of the "Internet Banking & Mobile Banking" report to their offering. While bank branches are still very much part of our urban landscape, the move towards internet banking as a complement to visiting a branch, if not a replacement, seems unstoppable. The online channel is also growing as a means of retaining as well as acquiring customers."
Appcelerator Nominated for Two GSMA Global Mobile Awards
"Appcelerator®, the leading mobile platform company, today announced GSMA has selected Appcelerator Titanium as a finalist for its Global Mobile Awards in both the Best Consumer Mobile Service and Best Cloud-based Technology categories. The awards recognize excellence, achievement and innovation in mobile communications, and winners will be announced at GSMA's Mobile World Congress February 28th in Barcelona, Spain."
Monday, January 30, 2012
Sunday, January 29, 2012
Mobile Banking Updates - Jan 29
Wanted: Banking App to Monitor Balances
"You haven’t been able to turn around in recent months without hearing about one or another bank adding fees to its checking accounts or making new rules for people who want to keep their free checking. Just 45 percent of checking accounts that don’t earn interest are free, according to the latest Bankrate.com survey of the largest institutions in each big city. That’s down from 65 percent in 2010 and 76 percent the year before."
Mobile Payments: FAQs for Retailers
"In July 2011, Gartner released a study on worldwide mobile payment trends. In it, Gartner reported a striking 38 percent jump in mobile payment users from 2010 to 2011, to 141 million. Even so, the report notes that the market has been slow to develop, and mass market adoption may be more than four years away."
FIS' Large Bank Customer Base Gives It an Edge in the Mobile Payments Market
"FIS' move to offer mobile wallet technology to banks shakes up a mobile payments industry that's already a pretty volatile mix of heavy hitters in the telecom, bank and web spaces, bringing more complexity to a market that's has yet to coalesce around a dominant delivery model."
Attitudes and perceptions in mobile security
"NQ Mobile and the National Cyber Security Alliance (NCSA) have jointly produced and published a new ‘Report on Consumer Behaviors and Perceptions of Mobile Security.’ The report, conducted independently, surveys 1,158 American smartphone users and provides a thorough and sometimes surprising insight into consumers’ attitudes toward and understanding of mobile security. It highlights, for example, that business really should be concerned about the security implications of evolving consumerization (or ‘bring your own device’) in the workplace."
SOCIAL FEEDBACK FROM CUSTOMERS DRIVES SHOPPERS’ CHOICES
"Banking clients who use an iPhone or Android--the two most popular operating systems on the market--can download their bank’s app from the iTunes App Store or the Android Market, respectively. And both stores also make it easy for users to leave a public review. If they aren’t already doing so, banks should be actively monitoring this valuable source of feedback."
"You haven’t been able to turn around in recent months without hearing about one or another bank adding fees to its checking accounts or making new rules for people who want to keep their free checking. Just 45 percent of checking accounts that don’t earn interest are free, according to the latest Bankrate.com survey of the largest institutions in each big city. That’s down from 65 percent in 2010 and 76 percent the year before."
Mobile Payments: FAQs for Retailers
"In July 2011, Gartner released a study on worldwide mobile payment trends. In it, Gartner reported a striking 38 percent jump in mobile payment users from 2010 to 2011, to 141 million. Even so, the report notes that the market has been slow to develop, and mass market adoption may be more than four years away."
FIS' Large Bank Customer Base Gives It an Edge in the Mobile Payments Market
"FIS' move to offer mobile wallet technology to banks shakes up a mobile payments industry that's already a pretty volatile mix of heavy hitters in the telecom, bank and web spaces, bringing more complexity to a market that's has yet to coalesce around a dominant delivery model."
Attitudes and perceptions in mobile security
"NQ Mobile and the National Cyber Security Alliance (NCSA) have jointly produced and published a new ‘Report on Consumer Behaviors and Perceptions of Mobile Security.’ The report, conducted independently, surveys 1,158 American smartphone users and provides a thorough and sometimes surprising insight into consumers’ attitudes toward and understanding of mobile security. It highlights, for example, that business really should be concerned about the security implications of evolving consumerization (or ‘bring your own device’) in the workplace."
SOCIAL FEEDBACK FROM CUSTOMERS DRIVES SHOPPERS’ CHOICES
"Banking clients who use an iPhone or Android--the two most popular operating systems on the market--can download their bank’s app from the iTunes App Store or the Android Market, respectively. And both stores also make it easy for users to leave a public review. If they aren’t already doing so, banks should be actively monitoring this valuable source of feedback."
Thursday, January 26, 2012
Mobile Banking Updates - Jan 26
CIBC the first bank in Canada to deliver a mobile version of its website featuring advice and information for clients
"CIBC has introduced a new, mobile version of CIBC.com, allowing Canadians with a smartphone to view advice and information on the site through a new client interface that perfectly fits the site onto the screen of their mobile device. The new site is another innovation as part of CIBC's leadership position in mobile financial services for Canadians, having launched the first mobile banking App in Canada in 2010, and becoming the first bank in Canada to launch a mobile stock trading App in 2011."
First Fidelity Bank launches mobile deposit app
"First Fidelity Bank, a locally owned full-service community bank, has launched a mobile application that allows business and personal banking clients to make deposits using their smartphones. The bank is the only Oklahoma-owned bank and one of a handful of banks nationwide to launch a mobile deposit app."
Tips for 2012: Top EMV Ignition Strategies and Mobile Security Solutions
"Mobile Security - Although discussions of mobile payment security have long focused on security at the physical POS, the real story for mobile security in 2012 will be how to better secure the hundreds of billions of dollars of financial transactions that are already taking place via mobile handsets."
UK Consumers Willing to Pay £4.20 per Month for Digital Banking, says PwC
"Consumers in the UK would be willing to pay around £4.20 a month for digital banking services, according to a survey from PricewaterhouseCoopers. 66 per cent, meanwhile, would be willing to pay for a Twitter or Facebook notification of a transaction.
The New Digital Tipping Point predicts that digital banking will overtake branch networks as the main way that customers deal with their banks by 2015. Emerging markets are "leapfrogging" online banking, the report claims, and going straight to mobile."
The Hard Cell-Time to Invest in Mobile Sales
"Mobile banking is no longer coming. It is already happening. Every major UK bank now offers a reasonable service for multiple platforms. Core online banking functionality has been replicated. Consumer adoption of the channel is high. Great job everyone, right? Unfortunately not...One of the consequences of all this growth is that mobile banking users are moving away from using traditional channels; channels that currently offer greater opportunity to cross-sell products and services. Because most banks offer little to no sales capability on their mobile banking service, a big sales gap is beginning to emerge. It’s time for banks to sort out their mobile sales strategy."
"CIBC has introduced a new, mobile version of CIBC.com, allowing Canadians with a smartphone to view advice and information on the site through a new client interface that perfectly fits the site onto the screen of their mobile device. The new site is another innovation as part of CIBC's leadership position in mobile financial services for Canadians, having launched the first mobile banking App in Canada in 2010, and becoming the first bank in Canada to launch a mobile stock trading App in 2011."
First Fidelity Bank launches mobile deposit app
"First Fidelity Bank, a locally owned full-service community bank, has launched a mobile application that allows business and personal banking clients to make deposits using their smartphones. The bank is the only Oklahoma-owned bank and one of a handful of banks nationwide to launch a mobile deposit app."
Tips for 2012: Top EMV Ignition Strategies and Mobile Security Solutions
"Mobile Security - Although discussions of mobile payment security have long focused on security at the physical POS, the real story for mobile security in 2012 will be how to better secure the hundreds of billions of dollars of financial transactions that are already taking place via mobile handsets."
UK Consumers Willing to Pay £4.20 per Month for Digital Banking, says PwC
"Consumers in the UK would be willing to pay around £4.20 a month for digital banking services, according to a survey from PricewaterhouseCoopers. 66 per cent, meanwhile, would be willing to pay for a Twitter or Facebook notification of a transaction.
The New Digital Tipping Point predicts that digital banking will overtake branch networks as the main way that customers deal with their banks by 2015. Emerging markets are "leapfrogging" online banking, the report claims, and going straight to mobile."
The Hard Cell-Time to Invest in Mobile Sales
"Mobile banking is no longer coming. It is already happening. Every major UK bank now offers a reasonable service for multiple platforms. Core online banking functionality has been replicated. Consumer adoption of the channel is high. Great job everyone, right? Unfortunately not...One of the consequences of all this growth is that mobile banking users are moving away from using traditional channels; channels that currently offer greater opportunity to cross-sell products and services. Because most banks offer little to no sales capability on their mobile banking service, a big sales gap is beginning to emerge. It’s time for banks to sort out their mobile sales strategy."
Wednesday, January 25, 2012
Mobile Banking Updates - Jan 25
Obopay Partners With Warid Telecom to Launch Warid Pesa in Uganda
"Obopay, a leading mobile banking and payment solution provider globally, today announced its collaboration with Warid Telecom, an Abu Dhabi Group company. Together the companies are set to launch a mobile banking and payment service, Warid Pesa, in Uganda. Launched in the wake of growing demand for mobile payments in Uganda, Warid Pesa provides a prepaid account that enables customers to perform e-money transactions, pay for goods and services as well as settle accounts."
The Value Of Mobile Payments Is Beyond Transactions
"All of this comes at a time when there is no single standard for new mobile payments technology. Isis and Google are backing conflicting versions of the same technology (Near Field Communications, or NFC), and equally significant players like PayPal are going entirely different directions with cloud-based (rather than hardware-based) mobile payment initiatives. Square and Intuit have circumvented the traditional payments network with their own respective additions to the transactional process (Square’s reader and Intuit’s GoPayment device)."
Help Desks Face Increasing Pressure to Support Mobile Banking
"Support desk staff are likely to find themselves under increased pressure from customers and co-workers needing assistants with mobile banking, with a study from Juniper finding that the number of people using the channel will almost double by 2013. The finance sector has been one of the pioneers of internet and more recently mobile service provision, meaning that trends it follows are likely to be mirrored by other industries at a later date."
FTSI Announces New Professional Services Division For Credit Unions and Community Banks
"FTSI, the leader in independent, self-service technology solutions in the Western region, is debuting six new professional services for credit unions and community banks. These new services complement FTSI's core competencies: ATM product sales, maintenance services and cash management. The new services, which offer financial institutions cost effective technology solutions that drive savings to the bottom line, have been developed based on FTSI's industry expertise and fostering relationships with key partners."
"Obopay, a leading mobile banking and payment solution provider globally, today announced its collaboration with Warid Telecom, an Abu Dhabi Group company. Together the companies are set to launch a mobile banking and payment service, Warid Pesa, in Uganda. Launched in the wake of growing demand for mobile payments in Uganda, Warid Pesa provides a prepaid account that enables customers to perform e-money transactions, pay for goods and services as well as settle accounts."
The Value Of Mobile Payments Is Beyond Transactions
"All of this comes at a time when there is no single standard for new mobile payments technology. Isis and Google are backing conflicting versions of the same technology (Near Field Communications, or NFC), and equally significant players like PayPal are going entirely different directions with cloud-based (rather than hardware-based) mobile payment initiatives. Square and Intuit have circumvented the traditional payments network with their own respective additions to the transactional process (Square’s reader and Intuit’s GoPayment device)."
Help Desks Face Increasing Pressure to Support Mobile Banking
"Support desk staff are likely to find themselves under increased pressure from customers and co-workers needing assistants with mobile banking, with a study from Juniper finding that the number of people using the channel will almost double by 2013. The finance sector has been one of the pioneers of internet and more recently mobile service provision, meaning that trends it follows are likely to be mirrored by other industries at a later date."
FTSI Announces New Professional Services Division For Credit Unions and Community Banks
"FTSI, the leader in independent, self-service technology solutions in the Western region, is debuting six new professional services for credit unions and community banks. These new services complement FTSI's core competencies: ATM product sales, maintenance services and cash management. The new services, which offer financial institutions cost effective technology solutions that drive savings to the bottom line, have been developed based on FTSI's industry expertise and fostering relationships with key partners."
Tuesday, January 24, 2012
Mobile Banking Updates - Jan 24
City Bank Offers Mobile App That Disables Debit Card
"City Bank is upgrading its mobile banking capabilities to compete with larger banks, always a concern for smaller institutions. At the same time, the $1.9 billion-asset bank, which serves a region surrounding Lubbock, Texas, is also experimenting with security applications for mobile devices that can be used to shield non-mobile channels."
Mobile banking explodes
"First National Bank (FNB) announced on Wednesday that its Cellphone Banking channel processed in excess of 25 million transactions in December 2011 with a transaction value of over R2.7-billion, compared to R1.7-billion seen in December 2010. The bank has more than 3.5 million Cellphone Banking users. Ravesh Ramlakan, CEO FNB Cellphone Banking Solutions, said the growth of the service was due to its simplicity and the convenience that it offered customers. "
The Rich Role of Mobile Phones in Financial Inclusion
"The mobile phone has become a useful tool in tackling the financial access deficit in many countries. M-PESA in Kenya has shown that adoption curves typical of new information-based technologies (radio,TV, mobiles, internet) can be applied to financial services. Yet M-PESA-like mobile payment schemes have only scratched the surface of what is possible. The typical mobile money user still uses it only a couple of times a month."
Over 250,000 Logins of National Bank's Mobile Banking Solutions in Less Than 2 Months
"National Bank is proud to announce that over 250,000 logins have been registered to its Mobile Banking Solutions since the application was launched on November 19. Just as they already do with their computer, clients with smartphones (iPhone(R), Blackberry(R)1 and Android(TM)) can now, through the m.nbc.ca mobile site, view their account balances, pay their bills, manage the limits of their Client Card and transfer funds from one account to another, not only at National Bank, but using Interac e-Transfer(R)2, to any personal account in a participating Canadian financial institution. "
HSBC Canada mobile banking app for iPhone now available
"Majority of our Canadian banks have a mobile banking app – CIBC, TD, RBC, ING – and now HSBC. If you bank with HSBC and have an iPhone you can download the app for free. The app has similar features as the other banks, offers the ability to view your account information and transaction history, pay bills, transfer funds, check exchange rates, locate ATMs and “Send and receive secure messages”. No word on a BlackBerry, Windows Phone or an Android app."
"City Bank is upgrading its mobile banking capabilities to compete with larger banks, always a concern for smaller institutions. At the same time, the $1.9 billion-asset bank, which serves a region surrounding Lubbock, Texas, is also experimenting with security applications for mobile devices that can be used to shield non-mobile channels."
Mobile banking explodes
"First National Bank (FNB) announced on Wednesday that its Cellphone Banking channel processed in excess of 25 million transactions in December 2011 with a transaction value of over R2.7-billion, compared to R1.7-billion seen in December 2010. The bank has more than 3.5 million Cellphone Banking users. Ravesh Ramlakan, CEO FNB Cellphone Banking Solutions, said the growth of the service was due to its simplicity and the convenience that it offered customers. "
The Rich Role of Mobile Phones in Financial Inclusion
"The mobile phone has become a useful tool in tackling the financial access deficit in many countries. M-PESA in Kenya has shown that adoption curves typical of new information-based technologies (radio,TV, mobiles, internet) can be applied to financial services. Yet M-PESA-like mobile payment schemes have only scratched the surface of what is possible. The typical mobile money user still uses it only a couple of times a month."
Over 250,000 Logins of National Bank's Mobile Banking Solutions in Less Than 2 Months
"National Bank is proud to announce that over 250,000 logins have been registered to its Mobile Banking Solutions since the application was launched on November 19. Just as they already do with their computer, clients with smartphones (iPhone(R), Blackberry(R)1 and Android(TM)) can now, through the m.nbc.ca mobile site, view their account balances, pay their bills, manage the limits of their Client Card and transfer funds from one account to another, not only at National Bank, but using Interac e-Transfer(R)2, to any personal account in a participating Canadian financial institution. "
HSBC Canada mobile banking app for iPhone now available
"Majority of our Canadian banks have a mobile banking app – CIBC, TD, RBC, ING – and now HSBC. If you bank with HSBC and have an iPhone you can download the app for free. The app has similar features as the other banks, offers the ability to view your account information and transaction history, pay bills, transfer funds, check exchange rates, locate ATMs and “Send and receive secure messages”. No word on a BlackBerry, Windows Phone or an Android app."
Monday, January 23, 2012
Mobile Banking Updates - Jan 23
Mobile Banking Service Adoption to Reach Over Half a Billion Users by 2013 Despite Economic Downturn
"Despite the challenging economic climate and threat of further global recession, a new report from Juniper Research finds that mobile banking users worldwide will reach 530 million by 2013, up from just over 300 million in 2011. Indeed, Juniper finds that mobile services are becoming a fundamental component of banks' business strategies as they respond to the current financial crisis."
Large Banks Slowly Building Corporate Mobile Apps: Survey
"The growth of mobile banking for corporate users has lagged that of consumer users, mostly because the specialized use case for corporate clients is harder to sell. But this is gradually changing, according to new research from Celent."
The Intersection of Mobile Banking and Payments: It’s About the User
"At the start of last year, Forrester Research predicted that mobile banking adoption would stall if financial institutions didn't begin implementing differentiated capabilities unique to the mobile channel. Mobile payments are one such capability and are steadily becoming a focal point in the race for mainstream adoption of mobile banking."
Protect your smartphone and tablet from identity theft
"Every week more people are buying smartphones, tablets and other mobile devices. And every week thieves are lurking to steal those gadgets — along with your banking and other personal information. According to Internet marketing researcher comScore, more than 32 million Americans used a mobile device to manage bank accounts during the second quarter of 2011 — about 14 percent of all mobile users in the United States. That’s up 21 percent from the last quarter of 2010, and experts predict continued growth as companies improve their mobile apps."
Mobile phone money transfers 'two years away'
"It's rumoured that bank customers should be able to transfer money to someone else's account using just their mobile phone within two years, as reported by The Financial Times. The Payments Council has been asked to help speed up bank money transfers. Its mobile money transfer plans could, in theory, make bank transfers easier and faster for mobile phone users."
"Despite the challenging economic climate and threat of further global recession, a new report from Juniper Research finds that mobile banking users worldwide will reach 530 million by 2013, up from just over 300 million in 2011. Indeed, Juniper finds that mobile services are becoming a fundamental component of banks' business strategies as they respond to the current financial crisis."
Large Banks Slowly Building Corporate Mobile Apps: Survey
"The growth of mobile banking for corporate users has lagged that of consumer users, mostly because the specialized use case for corporate clients is harder to sell. But this is gradually changing, according to new research from Celent."
The Intersection of Mobile Banking and Payments: It’s About the User
"At the start of last year, Forrester Research predicted that mobile banking adoption would stall if financial institutions didn't begin implementing differentiated capabilities unique to the mobile channel. Mobile payments are one such capability and are steadily becoming a focal point in the race for mainstream adoption of mobile banking."
Protect your smartphone and tablet from identity theft
"Every week more people are buying smartphones, tablets and other mobile devices. And every week thieves are lurking to steal those gadgets — along with your banking and other personal information. According to Internet marketing researcher comScore, more than 32 million Americans used a mobile device to manage bank accounts during the second quarter of 2011 — about 14 percent of all mobile users in the United States. That’s up 21 percent from the last quarter of 2010, and experts predict continued growth as companies improve their mobile apps."
Mobile phone money transfers 'two years away'
"It's rumoured that bank customers should be able to transfer money to someone else's account using just their mobile phone within two years, as reported by The Financial Times. The Payments Council has been asked to help speed up bank money transfers. Its mobile money transfer plans could, in theory, make bank transfers easier and faster for mobile phone users."
Sunday, January 22, 2012
UPLEX Global Launches Powerful Secondary Loan Market
Indianapolis, IN – Paul J. Giefing, CEO and Founder of UPLEX Global, today announced the release of a powerful, global, online secondary loan market to allow banks, credit unions, private investors and numerous other financial institutions to efficiently and affordably trade whole loans, loan portfolios and loan participations.
“I’ve found that the old way of buying and selling loans and portfolios has simply become too expensive and time consuming, especially during these challenging economic times,” said Giefing. “With UPLEX Global, we’ve truly changed the way the way secondary markets work by offering an online ‘broker-less’, paperless platform to efficiently and securely manage loan portfolios. Our technology allows financial firms to maximize time and make more money by putting them in total control of their own portfolios.”
UPLEX Global’s platform leverages the latest in technology to make buying and selling assets easy, efficient and at a fraction of the cost of traditional transactions. The platform uses an active, sealed-bid auction system, so that sellers can entertain countless offers on a single asset to maximize their time and ability to get the most for the loan.
Buyers using UPLEX Global’s platform have access to a marketplace that includes a wide variety of quality assets from across the globe as well as the analytical tools to provide the information necessary to make the best decision for their portfolios.
“We’ve successfully removed the middle man, allowing sellers to provide access to loan information directly to qualified buyers, and buyers to search for exactly the type of assets they desire,” said Giefing. “Through a growing network of financial institutions and investors from all over the world, buyers and sellers now have easy access to a liquid market fueled by global demand.”
During the initial release, UPLEX Global is offering a one-time, 18-month free trial period for new subscribers. To find out more about UPLEX Global or to register to join the network, visit www.uplexglobal.com or call 888.768.6564, ext 10.
Members of the media are invited to participate in an online tutorial for a first-hand look at UPLEX Global’s platform. To arrange an online, interactive demonstration of the platform, please contact Andrew Flach at aflach@uplexglobal.com.
“I’ve found that the old way of buying and selling loans and portfolios has simply become too expensive and time consuming, especially during these challenging economic times,” said Giefing. “With UPLEX Global, we’ve truly changed the way the way secondary markets work by offering an online ‘broker-less’, paperless platform to efficiently and securely manage loan portfolios. Our technology allows financial firms to maximize time and make more money by putting them in total control of their own portfolios.”
UPLEX Global’s platform leverages the latest in technology to make buying and selling assets easy, efficient and at a fraction of the cost of traditional transactions. The platform uses an active, sealed-bid auction system, so that sellers can entertain countless offers on a single asset to maximize their time and ability to get the most for the loan.
Buyers using UPLEX Global’s platform have access to a marketplace that includes a wide variety of quality assets from across the globe as well as the analytical tools to provide the information necessary to make the best decision for their portfolios.
“We’ve successfully removed the middle man, allowing sellers to provide access to loan information directly to qualified buyers, and buyers to search for exactly the type of assets they desire,” said Giefing. “Through a growing network of financial institutions and investors from all over the world, buyers and sellers now have easy access to a liquid market fueled by global demand.”
During the initial release, UPLEX Global is offering a one-time, 18-month free trial period for new subscribers. To find out more about UPLEX Global or to register to join the network, visit www.uplexglobal.com or call 888.768.6564, ext 10.
Members of the media are invited to participate in an online tutorial for a first-hand look at UPLEX Global’s platform. To arrange an online, interactive demonstration of the platform, please contact Andrew Flach at aflach@uplexglobal.com.
Thursday, January 19, 2012
Mobile Banking Updates - Jan 19
Finextra and Mobey Forum to stage European mobile banking and payments conference
"An influential panel of senior executives, practitioners and key stakeholders from across the mobile banking industry will gather in Barcelona on 21 March to debate the key issues facing banks, telecoms carriers and handset manufacturers as they bid to provide smartphone-toting consumers with a new generation of mobile banking and payments apps."
Citibank loads up on mobile banking apps
"Citibank is offering ease in accessing one’s credit card and bank accounts right in the comfort of your own home or office, in fact anywhere and anytime through Citibank Online, or the mobile banking application for Android phones or Citi Mobile Payments. Keep track of bank accounts, pay bills, transfer funds, view electronic statements and experience superior online banking services without having to go to the bank through Citibank Online."
Credit Unions Gear Up for Mobile Banking Explosion
"With the number of consumers turning to electronic methods for banking on the rise, credit union experts are predicting that mobile banking will experience radical growth over the next few years. Smartphone users listen up--keeping in touch with your credit union has never been easier as more credit unions add mobile banking to their menu of services. Many mobile banking offerings provide both web and text-based applications, often in real time; making online banking on-the-go a snap."
WESTconsin Goes Mobile
"The $731 million WESTconsin Credit Union of Menomonie, Wis., is now offering mobile banking service to its 67,400 members. The service is through Intuit Financial Services and includes balances, history, transfers and bill payment for smart phones with Web browsers, and balances and transaction checking through SMS text banking."
In Mobile-Online Banking Match Up, No O.K. Corral Shootout Foreseen
"Call mobile banking vs. online banking the face-off that isn’t. That is the word from IT experts as they forecast how, and with what, we will conduct our financial transactions in 2012. And for those who had been wondering if they could downplay, maybe even terminate, online banking as more people adopt smartphones, the sharp answer is, don’t even think about that."
Making the Most of Mobile Banking
"Innovations in the banking industry move at a tortoise pace. Think of what were arguably the breakthroughs in banking technology – the automated teller machine and debit cards – and you're talking about "new" products introduced, respectively, in 1967 and 1984."
Mobile Banking For Customers, snom VoIP Phones, Customer Speech Analytics, Data Center Networks
"Smartphones are growing just as rapidly in Britain as anywhere else... well, maybe not as rapidly as South Korea, but pretty rapidly. They’re ahead of Germany but not quite up to France. And there’s a market for mobile banking via smartphone, although Brits aren’t the most gung-ho when it comes to banking via mobile. Nevertheless, Halifax and the Royal Bank of Scotland see opportunities there, as each have launched mobile banking apps to help customers manage their accounts on-the-go."
"An influential panel of senior executives, practitioners and key stakeholders from across the mobile banking industry will gather in Barcelona on 21 March to debate the key issues facing banks, telecoms carriers and handset manufacturers as they bid to provide smartphone-toting consumers with a new generation of mobile banking and payments apps."
Citibank loads up on mobile banking apps
"Citibank is offering ease in accessing one’s credit card and bank accounts right in the comfort of your own home or office, in fact anywhere and anytime through Citibank Online, or the mobile banking application for Android phones or Citi Mobile Payments. Keep track of bank accounts, pay bills, transfer funds, view electronic statements and experience superior online banking services without having to go to the bank through Citibank Online."
Credit Unions Gear Up for Mobile Banking Explosion
"With the number of consumers turning to electronic methods for banking on the rise, credit union experts are predicting that mobile banking will experience radical growth over the next few years. Smartphone users listen up--keeping in touch with your credit union has never been easier as more credit unions add mobile banking to their menu of services. Many mobile banking offerings provide both web and text-based applications, often in real time; making online banking on-the-go a snap."
WESTconsin Goes Mobile
"The $731 million WESTconsin Credit Union of Menomonie, Wis., is now offering mobile banking service to its 67,400 members. The service is through Intuit Financial Services and includes balances, history, transfers and bill payment for smart phones with Web browsers, and balances and transaction checking through SMS text banking."
In Mobile-Online Banking Match Up, No O.K. Corral Shootout Foreseen
"Call mobile banking vs. online banking the face-off that isn’t. That is the word from IT experts as they forecast how, and with what, we will conduct our financial transactions in 2012. And for those who had been wondering if they could downplay, maybe even terminate, online banking as more people adopt smartphones, the sharp answer is, don’t even think about that."
Making the Most of Mobile Banking
"Innovations in the banking industry move at a tortoise pace. Think of what were arguably the breakthroughs in banking technology – the automated teller machine and debit cards – and you're talking about "new" products introduced, respectively, in 1967 and 1984."
Mobile Banking For Customers, snom VoIP Phones, Customer Speech Analytics, Data Center Networks
"Smartphones are growing just as rapidly in Britain as anywhere else... well, maybe not as rapidly as South Korea, but pretty rapidly. They’re ahead of Germany but not quite up to France. And there’s a market for mobile banking via smartphone, although Brits aren’t the most gung-ho when it comes to banking via mobile. Nevertheless, Halifax and the Royal Bank of Scotland see opportunities there, as each have launched mobile banking apps to help customers manage their accounts on-the-go."
Wednesday, January 18, 2012
Mobile Banking Updates - Jan 18
A revolution coming in corporate mobile banking
"The corporate mobile banking market has matured quite a bit, and a slew of new devices, cheaper data plans, and faster networks are upon us. Business mobile users have the opportunity to take advantage of rich and powerful mobile banking services, provided their bank has an offering, according to a recent report from Celent. Key findings of the report include:"
Emerging Markets Mobile Banking Runs Ahead Of Google Wallet
"Mobile phones have changed banking faster in emerging markets than in developed countries, so they may provide an indication of where hot tech like the Google Wallet might go if it ever catches up with South Africa, Kenya or Bangladesh. Banks in emerging markets are using mobile phones to extend their services to existing customers and to provide banking connectivity to individuals with no previous banking relationship."
Challenges for lenders with mobile banking
"Banks must keep up with technological developments to make it easier for their customers to use mobile banking, while regulators have to overcome concerns about privacy and security, says professional services firm KPMG. In a new report that has implications for SA’s banks, KPMG said last week that the rapid adoption of mobile banking was changing relationships among banks, retailers and telecoms providers."
IBC BANK ENHANCES ITS MOBILE BANKING OFFERINGS
"IBC Bank has expanded its mobile banking program by adding Bill Pay functionality to IBC Mobile. The service is accessible via www.ibc.mobi from any device that can connect to the Web -- including all Androids, Blackberries, and iPhones. The added technology launched this week and is a convenient alternative to the downloadable apps currently available that are uniquely designed for the operating systems of specific mobile devices."
Mobile banking expands to making deposits by smartphone
"He doesn't have a jet pack, but Julian Figgins does have technology that was only dreamed of a few years ago, and it helps him do his chores faster. When Figgins has a check to deposit, the West Sacramento resident doesn't lumber to the nearest bank. Instead, he snaps a picture of the check with his smartphone, taps the screen a few times, and the check is deposited to his account."
BISP disburses Rs 1.16b through mobile banking
"Benazir Income Support Programme (BISP) has disbursed an amount of Rs 1.16 billion through Mobile Phone Banking, ensuring faster and more reliable cash transfer to its beneficiaries. Mobile Phone Banking introduced for the first time in the history of the country was initially launched in the districts including Larkana, Battagram, Layyah, Rawalpindi and Islamabad."
"The corporate mobile banking market has matured quite a bit, and a slew of new devices, cheaper data plans, and faster networks are upon us. Business mobile users have the opportunity to take advantage of rich and powerful mobile banking services, provided their bank has an offering, according to a recent report from Celent. Key findings of the report include:"
Emerging Markets Mobile Banking Runs Ahead Of Google Wallet
"Mobile phones have changed banking faster in emerging markets than in developed countries, so they may provide an indication of where hot tech like the Google Wallet might go if it ever catches up with South Africa, Kenya or Bangladesh. Banks in emerging markets are using mobile phones to extend their services to existing customers and to provide banking connectivity to individuals with no previous banking relationship."
Challenges for lenders with mobile banking
"Banks must keep up with technological developments to make it easier for their customers to use mobile banking, while regulators have to overcome concerns about privacy and security, says professional services firm KPMG. In a new report that has implications for SA’s banks, KPMG said last week that the rapid adoption of mobile banking was changing relationships among banks, retailers and telecoms providers."
IBC BANK ENHANCES ITS MOBILE BANKING OFFERINGS
"IBC Bank has expanded its mobile banking program by adding Bill Pay functionality to IBC Mobile. The service is accessible via www.ibc.mobi from any device that can connect to the Web -- including all Androids, Blackberries, and iPhones. The added technology launched this week and is a convenient alternative to the downloadable apps currently available that are uniquely designed for the operating systems of specific mobile devices."
Mobile banking expands to making deposits by smartphone
"He doesn't have a jet pack, but Julian Figgins does have technology that was only dreamed of a few years ago, and it helps him do his chores faster. When Figgins has a check to deposit, the West Sacramento resident doesn't lumber to the nearest bank. Instead, he snaps a picture of the check with his smartphone, taps the screen a few times, and the check is deposited to his account."
BISP disburses Rs 1.16b through mobile banking
"Benazir Income Support Programme (BISP) has disbursed an amount of Rs 1.16 billion through Mobile Phone Banking, ensuring faster and more reliable cash transfer to its beneficiaries. Mobile Phone Banking introduced for the first time in the history of the country was initially launched in the districts including Larkana, Battagram, Layyah, Rawalpindi and Islamabad."
Monday, January 16, 2012
Mobile Banking Security - Jan 16
Fraud Prevention: Utilizing Mobile Technology for Authentication & Transaction Verification
"It's no longer just about mobile banking. Mobile technology today is deployed by leading-edge institutions for out-of-band user authentication, transaction verification and to help prevent fraud via real-time security alerts. How can your institution crack down on fraud maximize its mobile investment?"
FBI Issues Warnings Over Mobile Banking
"With smartphone and tablet owners using their gadgets more often to access financial information and authorize transactions, cybercriminals are flocking to mobile platforms. As a result, the Federal Bureau of Investigation has released a bulletin detailing the hazards of mobile malware."
Mobile Functionality or Security?
"Mobile banking is on the rise, with 23 out of the United States' top 25 banks already offering some sort of mobile service. As smart phone and tablet usage grow, banks and credit unions will need to continue implementing and enhancing mobile technology, but they must focus on security and convenience, says Mary Monahan of Javelin Strategy & Research."
Mobile banking security tops 10 security threats for 2012
"While credit unions gear up for what may be radical growth in mobile banking, they also must keep in mind that mobile security is the No. 1 security issue in the list of top 10 computer security threats for 2012, according to McAfee Labs.
Cyber criminals are hacking into all sorts of devices, breaking into to everything from cell phones to car systems, and security threats are escalating and becoming more malicious, said Adam Wosotowsky, senior anti-spam analyst with McAfee (The Motley Fool Jan. 3)."
IDC RESEARCH CONCLUDES HEIGHTENED MOBILE BANKING SECURITY RISKS FOR UK FINANCIAL INSTITUTIONS
"Following research conducted by IDC Financial Insights, Akamai Technologies Ltd has found a widening gap between IT and business in many UK financial services companies that poses grave operational and security risks for mobile and online services. This widening gap is an unintentional consequence of business decision-makers within financial institutions lobbying for new and enhanced digital services and being stonewalled by IT departments fearful of the growing security threat from mobile malware."
Akamai warns of mobile banking security rift
"IT managers for banks are being put under increasing pressure to deliver secure mobile banking products while having to deal with severe budgetary constraints, according to research performed on behalf of Akamai by analyst company IDC."
"It's no longer just about mobile banking. Mobile technology today is deployed by leading-edge institutions for out-of-band user authentication, transaction verification and to help prevent fraud via real-time security alerts. How can your institution crack down on fraud maximize its mobile investment?"
FBI Issues Warnings Over Mobile Banking
"With smartphone and tablet owners using their gadgets more often to access financial information and authorize transactions, cybercriminals are flocking to mobile platforms. As a result, the Federal Bureau of Investigation has released a bulletin detailing the hazards of mobile malware."
Mobile Functionality or Security?
"Mobile banking is on the rise, with 23 out of the United States' top 25 banks already offering some sort of mobile service. As smart phone and tablet usage grow, banks and credit unions will need to continue implementing and enhancing mobile technology, but they must focus on security and convenience, says Mary Monahan of Javelin Strategy & Research."
Mobile banking security tops 10 security threats for 2012
"While credit unions gear up for what may be radical growth in mobile banking, they also must keep in mind that mobile security is the No. 1 security issue in the list of top 10 computer security threats for 2012, according to McAfee Labs.
Cyber criminals are hacking into all sorts of devices, breaking into to everything from cell phones to car systems, and security threats are escalating and becoming more malicious, said Adam Wosotowsky, senior anti-spam analyst with McAfee (The Motley Fool Jan. 3)."
IDC RESEARCH CONCLUDES HEIGHTENED MOBILE BANKING SECURITY RISKS FOR UK FINANCIAL INSTITUTIONS
"Following research conducted by IDC Financial Insights, Akamai Technologies Ltd has found a widening gap between IT and business in many UK financial services companies that poses grave operational and security risks for mobile and online services. This widening gap is an unintentional consequence of business decision-makers within financial institutions lobbying for new and enhanced digital services and being stonewalled by IT departments fearful of the growing security threat from mobile malware."
Akamai warns of mobile banking security rift
"IT managers for banks are being put under increasing pressure to deliver secure mobile banking products while having to deal with severe budgetary constraints, according to research performed on behalf of Akamai by analyst company IDC."
Sunday, January 15, 2012
Mobile Banking Updates - Jan 15
Last Year Witnessed a Mobile Banking Lift Off
"In the span of just 12 months, a revolution in financial transactions has occurred. Mobile banking has shifted from nice to have to must have at credit unions across the country as a stampede of institutions have embraced the idea that members demand the convenience of banking from the palm of their hands."
Wells Fargo Mobile(R) Banking Application Now Available from Amazon Appstore for Android
"Wells Fargo customers who use Android-powered smartphone and tablet devices, like the new Kindle Fire, can now keep track of their finances while on the go with Wells Fargo Mobilebanking services. Wells Fargo & Company WFC +0.20% announced today its new Wells Fargo Mobile banking app for Android is available for download from the Amazon Appstore for Android."
The Path to SmartPhone Banking Apps
"Despite mobile banking's growth, many financial institutions still view it as a cost rather than a revenue opportunity. In this roundtable we discuss how banks can speed up adoption rates and increase profit margins, and where deployment of apps fits into the strategy."
Voice controlled mobile banking is the future
"Most Brits will use voice commands to carry out certain banking tasks on their mobile phones following the success of Siri in prompting the take up of voice activation services. Digital banking software maker Intelligent Environments has pieced together the trends in technology and banking and come to the conclusion that voice-activated digital banking could become mainstream in 2014."
First National Bank of Santa Fe Launches Mobile Banking Solution. Teams With Intuit Financial Services to Provide Customers Access to their Accounts Anytime, Anywhere.
"First National Bank of Santa Fe is teaming with Intuit Financial Services to offer consumer mobile banking, allowing customers the ability to access account balances, make transfers, view transaction history and pay bills via a mobile web browser, text messaging or iPhone and Android Apps."
"In the span of just 12 months, a revolution in financial transactions has occurred. Mobile banking has shifted from nice to have to must have at credit unions across the country as a stampede of institutions have embraced the idea that members demand the convenience of banking from the palm of their hands."
Wells Fargo Mobile(R) Banking Application Now Available from Amazon Appstore for Android
"Wells Fargo customers who use Android-powered smartphone and tablet devices, like the new Kindle Fire, can now keep track of their finances while on the go with Wells Fargo Mobilebanking services. Wells Fargo & Company WFC +0.20% announced today its new Wells Fargo Mobile banking app for Android is available for download from the Amazon Appstore for Android."
The Path to SmartPhone Banking Apps
"Despite mobile banking's growth, many financial institutions still view it as a cost rather than a revenue opportunity. In this roundtable we discuss how banks can speed up adoption rates and increase profit margins, and where deployment of apps fits into the strategy."
Voice controlled mobile banking is the future
"Most Brits will use voice commands to carry out certain banking tasks on their mobile phones following the success of Siri in prompting the take up of voice activation services. Digital banking software maker Intelligent Environments has pieced together the trends in technology and banking and come to the conclusion that voice-activated digital banking could become mainstream in 2014."
First National Bank of Santa Fe Launches Mobile Banking Solution. Teams With Intuit Financial Services to Provide Customers Access to their Accounts Anytime, Anywhere.
"First National Bank of Santa Fe is teaming with Intuit Financial Services to offer consumer mobile banking, allowing customers the ability to access account balances, make transfers, view transaction history and pay bills via a mobile web browser, text messaging or iPhone and Android Apps."
Thursday, January 12, 2012
Mobile Banking Updates - Jan 12
Mobile payments: financial players are in the driver’s seat
"The momentum behind mobile payments is picking up as we kick off a big year in mobile wallets, but many of the newest challengers in the space are going to have to overcome one nagging reality: consumers still trust their banks and credit card companies to drive the mobile payments market. That’s according to some new data from a couple of different surveys from KPMG and mobile analyst Chetan Sharma."
Bankbuster - Why Banks Have to Embrace Mobile Technology
"I was recently reminded of the pace of mobile banking innovation by a store on my local high street. This particular store has certainly seen better days. The blue interior has that slightly musky look to it, probably due to the lack of natural light caused by the worn out posters plastered over the shop window. Whilst the stores all around it are abuzz with shoppers, I haven't seen anyone enter or leave the premises in months. The store in question is Blockbuster. Once a mainstay of any high street around the developed world, they are now few and far between. The sharp rise and fall of Blockbuster is an excellent cautionary tale for most bank CEOs, but the message is currently not being heeded."
CUSN Adds Four CUs to Mobile Banking Roster
"Four more credit unions are now offering their members mobile banking through CU Service Network LLC of Lakewood, Colo., the CUSO said. They are the $14 million Cornerstone CU of Des Moines, Iowa; the $157 million Fitzsimons CU of Lakewood, Colo.; the $297 million State Employees CU of Santa Fe, N.M.; and the $30 million Westminster FCU of Westminster, Colo., CUSN said."
"The momentum behind mobile payments is picking up as we kick off a big year in mobile wallets, but many of the newest challengers in the space are going to have to overcome one nagging reality: consumers still trust their banks and credit card companies to drive the mobile payments market. That’s according to some new data from a couple of different surveys from KPMG and mobile analyst Chetan Sharma."
Bankbuster - Why Banks Have to Embrace Mobile Technology
"I was recently reminded of the pace of mobile banking innovation by a store on my local high street. This particular store has certainly seen better days. The blue interior has that slightly musky look to it, probably due to the lack of natural light caused by the worn out posters plastered over the shop window. Whilst the stores all around it are abuzz with shoppers, I haven't seen anyone enter or leave the premises in months. The store in question is Blockbuster. Once a mainstay of any high street around the developed world, they are now few and far between. The sharp rise and fall of Blockbuster is an excellent cautionary tale for most bank CEOs, but the message is currently not being heeded."
CUSN Adds Four CUs to Mobile Banking Roster
"Four more credit unions are now offering their members mobile banking through CU Service Network LLC of Lakewood, Colo., the CUSO said. They are the $14 million Cornerstone CU of Des Moines, Iowa; the $157 million Fitzsimons CU of Lakewood, Colo.; the $297 million State Employees CU of Santa Fe, N.M.; and the $30 million Westminster FCU of Westminster, Colo., CUSN said."
Wednesday, January 11, 2012
International Mobile Banking Updates - Jan 11
IBM's Social Innovation Is Supporting 'Smarter Banking' In Kenya
"IBM is helping Kenyan sugar cane cutters through its social innovation support of a mobile banking system. It enables these workers to earn more money. Normally, a sugar cane farm would have to shut down for two or three days a month to enable its cane cutters to travel to a bank branch and wait in a long queue to deposit their pay. Now, with the introduction of mobile banking, the cane cutters can keep working and monitor their pay deposit on their phones. The mobile banking also allows them to access cash from local agents, buy at local shops and transfer money to others."
Mobile money breakthrough predicted for Jamaica
"An American economist is predicting that the introduction of mobile money services in Jamaica will find a ready market because of the scarcity of user-friendly financial services on the island. The economist, Dr Dawn Elliott, made the forecast based on a survey which found that only a fraction of the Jamaican population has access to financial services, which limits their participation in the economy."
Top 10 Posts from the CGAP Technology Blog in 2011
"One of the exciting and yet challenging aspects of the branchless banking industry is how fast things change. Topics discussed just 3 months ago can seem out of date today. That’s why it’s fun to look back over the topics we blogged about in 2011 starting from last January to see how the discussion has evolved over the last 12 months. Here are just a few of the blogs you may have missed or you may be interested in reading again:"
"IBM is helping Kenyan sugar cane cutters through its social innovation support of a mobile banking system. It enables these workers to earn more money. Normally, a sugar cane farm would have to shut down for two or three days a month to enable its cane cutters to travel to a bank branch and wait in a long queue to deposit their pay. Now, with the introduction of mobile banking, the cane cutters can keep working and monitor their pay deposit on their phones. The mobile banking also allows them to access cash from local agents, buy at local shops and transfer money to others."
Mobile money breakthrough predicted for Jamaica
"An American economist is predicting that the introduction of mobile money services in Jamaica will find a ready market because of the scarcity of user-friendly financial services on the island. The economist, Dr Dawn Elliott, made the forecast based on a survey which found that only a fraction of the Jamaican population has access to financial services, which limits their participation in the economy."
Top 10 Posts from the CGAP Technology Blog in 2011
"One of the exciting and yet challenging aspects of the branchless banking industry is how fast things change. Topics discussed just 3 months ago can seem out of date today. That’s why it’s fun to look back over the topics we blogged about in 2011 starting from last January to see how the discussion has evolved over the last 12 months. Here are just a few of the blogs you may have missed or you may be interested in reading again:"
Tuesday, January 10, 2012
Mobile Banking Updates - Jan 10
Vendors Give Browser-Based Mobile Banking Apps a Facelift
"Banking applications for iPhone, iPad, Android, BlackBerry and other mobile devices are growing fast, but not all consumers are keen to download specialized apps from their bank. Some prefer to bank using just a web browser on their device.
ComScore, a firm that measures digital commerce, says that in the first half of 2011, mobile app usage for banking information increased from 8.7 million users to 12.7 million users. Browser usage for banking information increased at a slower rate, but is still larger than the app market-expanding from 15.4 million to 17.5 million users."
E*TRADE Launches Mobile Deposit for iPhone(R)
"E*TRADE Financial Corporation ETFC today announced that E*TRADE Securities LLC has introduced mobile deposit for iPhone, enabling customers to electronically deposit checks to their brokerage or E*TRADE Bank accounts remotely with the use of their iPhone camera."
IBC Bank Enhances Its Mobile Banking Offerings
"IBC Bank has expanded its mobile banking program by adding Bill Pay functionality to IBC Mobile. The service is accessible via www.ibc.mobi from any device that can connect to the Web -- including all Androids, Blackberries, and iPhones. The added technology launched this week and is a convenient alternative to the downloadable apps currently available that are uniquely designed for the operating systems of specific mobile devices."
Brookline Bank Selects Jack Henry Banking to Provide Enterprise-Wide Automation
"Jack Henry & Associates, Inc. is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Jack Henry Banking(TM) division announced today that Brookline Bank has selected its SilverLake core processing system to provide enterprise-wide automation. This Massachusetts-based bank holding company will implement SilverLake and more than 13 of Jack Henry Banking's integrated complementary solutions, including the jhaPassPort(TM) ATM and debit card transaction processing platform and iPay Consumer Online Bill Pay(TM), through the company's outsourced offering."
Small local bank plays big in mobile world
"Kourtney Houle is a doctor of family medicine. She also has two children younger than the age of 2 — a 16-month-old and a 7-week-old. The combination keeps her pretty busy. That’s why she appreciates the capabilities of mobile banking. 'You learn to multitask when you’re holding a baby and trying to cook dinner,' said Houle, whose family recently took out a loan to build a home in St. Augusta. 'I can make a payment on my phone and look up anything on our other accounts. Anything that can make life easier, I’m on board with.'”
"Banking applications for iPhone, iPad, Android, BlackBerry and other mobile devices are growing fast, but not all consumers are keen to download specialized apps from their bank. Some prefer to bank using just a web browser on their device.
ComScore, a firm that measures digital commerce, says that in the first half of 2011, mobile app usage for banking information increased from 8.7 million users to 12.7 million users. Browser usage for banking information increased at a slower rate, but is still larger than the app market-expanding from 15.4 million to 17.5 million users."
E*TRADE Launches Mobile Deposit for iPhone(R)
"E*TRADE Financial Corporation ETFC today announced that E*TRADE Securities LLC has introduced mobile deposit for iPhone, enabling customers to electronically deposit checks to their brokerage or E*TRADE Bank accounts remotely with the use of their iPhone camera."
IBC Bank Enhances Its Mobile Banking Offerings
"IBC Bank has expanded its mobile banking program by adding Bill Pay functionality to IBC Mobile. The service is accessible via www.ibc.mobi from any device that can connect to the Web -- including all Androids, Blackberries, and iPhones. The added technology launched this week and is a convenient alternative to the downloadable apps currently available that are uniquely designed for the operating systems of specific mobile devices."
Brookline Bank Selects Jack Henry Banking to Provide Enterprise-Wide Automation
"Jack Henry & Associates, Inc. is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Jack Henry Banking(TM) division announced today that Brookline Bank has selected its SilverLake core processing system to provide enterprise-wide automation. This Massachusetts-based bank holding company will implement SilverLake and more than 13 of Jack Henry Banking's integrated complementary solutions, including the jhaPassPort(TM) ATM and debit card transaction processing platform and iPay Consumer Online Bill Pay(TM), through the company's outsourced offering."
Small local bank plays big in mobile world
"Kourtney Houle is a doctor of family medicine. She also has two children younger than the age of 2 — a 16-month-old and a 7-week-old. The combination keeps her pretty busy. That’s why she appreciates the capabilities of mobile banking. 'You learn to multitask when you’re holding a baby and trying to cook dinner,' said Houle, whose family recently took out a loan to build a home in St. Augusta. 'I can make a payment on my phone and look up anything on our other accounts. Anything that can make life easier, I’m on board with.'”
Sunday, January 8, 2012
Mobile Banking Updates - Jan 8
8 Bank Technology Trends That Will Shape the Industry in 2012
"For the past several years, bank IT budgets generally remained flat. The financial crisis and ensuing fallout forced belt-tightening across the industry. In 2011, however, bank IT executives finally enjoyed some breathing room thanks to some revitalized spending power."
MAKING SENSE OF IT ALL: What should be the main 2012 trend? Mobile Security
"With all the predictions of what’s coming for 2012 floating around, one really should stand out: Increased mobile security. For example, it is extremely rare when any politician goes out on a limb, so it’s important to take note when they do. Case in point: Rep. Dutch Ruppersberger (D-Md.) said the following at a trade group’s round table in December:"
Smartphone hacking will rise in 2012, experts warn
"Security experts predict 2012 will be a breakthrough year for cyber-attacks on smartphones. There are now enough of these mobile computers in use to make them an inviting target. 'Shopping and mobile banking are things that are going to leave a trail and contain lots of goodies that criminals can go after,' says Rachel Ratcliff Womack with the digital security firm Stroz Friedberg."
FDIC Reveals Banks Have Allowed for Theft of Mobile Banking Data
"The world just got a little scarier. The Federal Deposit Insurance Corp. has publicly acknowledged for the first time that banks in the United States have had consumers' mobile banking data stolen during wireless transmissions. The FDIC made the disclosure in a dark corner of a document it releases quarterly called Supervisory Insights, which advises its on-the-ground compliance regulators."
Riverset Launches Mobile
"The $117 million Riverset Credit Union in Pittsburgh is now offering its 14,700 members mobile banking through the Mobile Money service from Fiserv’s Mobiliti operation. The mobile service is being offered through text, mobile Web browser and downloadable applications, the credit union said."
"For the past several years, bank IT budgets generally remained flat. The financial crisis and ensuing fallout forced belt-tightening across the industry. In 2011, however, bank IT executives finally enjoyed some breathing room thanks to some revitalized spending power."
MAKING SENSE OF IT ALL: What should be the main 2012 trend? Mobile Security
"With all the predictions of what’s coming for 2012 floating around, one really should stand out: Increased mobile security. For example, it is extremely rare when any politician goes out on a limb, so it’s important to take note when they do. Case in point: Rep. Dutch Ruppersberger (D-Md.) said the following at a trade group’s round table in December:"
Smartphone hacking will rise in 2012, experts warn
"Security experts predict 2012 will be a breakthrough year for cyber-attacks on smartphones. There are now enough of these mobile computers in use to make them an inviting target. 'Shopping and mobile banking are things that are going to leave a trail and contain lots of goodies that criminals can go after,' says Rachel Ratcliff Womack with the digital security firm Stroz Friedberg."
FDIC Reveals Banks Have Allowed for Theft of Mobile Banking Data
"The world just got a little scarier. The Federal Deposit Insurance Corp. has publicly acknowledged for the first time that banks in the United States have had consumers' mobile banking data stolen during wireless transmissions. The FDIC made the disclosure in a dark corner of a document it releases quarterly called Supervisory Insights, which advises its on-the-ground compliance regulators."
Riverset Launches Mobile
"The $117 million Riverset Credit Union in Pittsburgh is now offering its 14,700 members mobile banking through the Mobile Money service from Fiserv’s Mobiliti operation. The mobile service is being offered through text, mobile Web browser and downloadable applications, the credit union said."
Friday, January 6, 2012
Mobile Banking Updates - Jan 6
Acceleration in the Mobile Banking and Payments Landscape: Insights and Perspectives from Financial Institutions
"Discover why waiting to get involved in mobile payments could prove costly for financial institutions. Many financial institutions have clear-cut mobile banking strategies. However, when it comes to mobile payments, most are “fast followers” — waiting for movement from “pace setters” before investing. Developing a strategy in this growth market now will position financial institutions to move quickly when the catalysts for greater investment in mobile payments are in place."
Indoor Location Positioning: Research Pipelines, Start-ups and Predictions for 2012
"In December, 2011, Google announced that Google Maps would now be able to work indoors. This was followed quickly by announcements from other major companies in the industry that their systems would also soon be able to map and navigate indoors."
"Discover why waiting to get involved in mobile payments could prove costly for financial institutions. Many financial institutions have clear-cut mobile banking strategies. However, when it comes to mobile payments, most are “fast followers” — waiting for movement from “pace setters” before investing. Developing a strategy in this growth market now will position financial institutions to move quickly when the catalysts for greater investment in mobile payments are in place."
Indoor Location Positioning: Research Pipelines, Start-ups and Predictions for 2012
"In December, 2011, Google announced that Google Maps would now be able to work indoors. This was followed quickly by announcements from other major companies in the industry that their systems would also soon be able to map and navigate indoors."
Thursday, January 5, 2012
Mobile Banking Updates - Jan 5
Web Browser the Most Popular Mobile Banking Channel
"A Javelin report finds that more customers access mobile banking via a mobil browser, though downloadable apps are gaining and considered more secure. The mobile Web browser is the most widely used mobile banking channel and is perceived by consumers to be the most secure, according to Javelin Strategy & Research's Mobile Banking Security report issued this week. The survey evaluated the specific security issues mobile banking customers face when using three mobile banking channels: Web browser, app, and SMS texting."
A turning point in the history of mobile financial services
"With 2011 drawing to a close, it’s clear that the year has seen exciting changes in mobile banking and payments, with innovative advancements to enhance the consumer experience being delivered. In particular, there have been positive developments from UK banks and retailers in the mobile banking space, culminating in the launch of Lloyds TSB’s successful new banking app. Earlier in the year, ING Direct paved the way for banking innovation, with the news that the organisation is offering the use of ‘Bump’ technologies to transfer funds in a simple and convenient manner."
Charles Schwab Expands Mobile Banking and Investing Offerings with New App for the iPad
"Expanding its suite of integrated banking and brokerage mobile services for investors, Charles Schwab today announced that a new Schwab app for the iPad is now available for download. iPad users will now be able to transfer funds between Schwab Bank and brokerage accounts, manage their trades and keep up with market information with automatically updating quotes and the latest financial news through their Schwab app."
UBA reaffirms preparedness to implement CBN’s cashless policy
"With barely five days before the commencement of the Central Bank of Nigeria’s (CBN) ‘Cashless Lagos’ pilot scheme geared towards reducing the cost of managing cash in the economy, United Bank for Africa (UBA) Plc has restated its preparedness to fully implement the policy, claiming that time is long overdue for customers, particularly small depositors, to fully embrace self-service electronic banking services. In July, the bank had adopted critical measures to encourage its customers to embrace electronic channels."
RBI Removes INR 50K Cap on Mobile Banking Transactions
"RBI (Reserve Bank of India) has removed INR 50,000 cap on mobile banking transactions. However, banks may place per transaction limits based on their own risk perception with the approval of its Board.
Mobile banking in India is set to generate fee-based income of Rs 20,250 crore over the next five years, mainly driven by lower transaction cost, favourable regulatory environment. By 2015, $350 billion in payment and banking transactions could flow through mobile phones, compared with about $235 billion of total credit- and debit-card transactions today."
Halifax and RBS launch mobile banking apps
"The two banks are responding to the fast-paced growth of smartphones in the UK, with more than a third of people using a smartphone. The apps will be available across all popular smartphone platforms, including Blackberry, Apple, Android and Nokia. The apps will allow customers to access their any of their accounts with Halifax or RBS, including personal accounts, savings accounts and credit cards."
African Banks Turn to IBM to Support New Wave of Innovation in Banking Services
"Over the last six months IBM has signed contracts with five of Kenya's leading banks: Credit Bank, Co-operative Bank, Family Bank, National Bank of Kenya and National Industrial Credit (NIC) Bank. The agreements are amongst more than 20 similar deals that IBM has signed with banks across Africa in 2011 in line with the rapid growth of the financial services sector and as technology enables a wave of innovation in African banking. IBM is also working with Africa's leading telco companies to help provide financial services based on increasingly widespread mobile devices. For example, through its partnership with Vodafone, IBM is helping Safaricom to provide its M-PESA mobile money service to over 15 million customers in East Africa."
"A Javelin report finds that more customers access mobile banking via a mobil browser, though downloadable apps are gaining and considered more secure. The mobile Web browser is the most widely used mobile banking channel and is perceived by consumers to be the most secure, according to Javelin Strategy & Research's Mobile Banking Security report issued this week. The survey evaluated the specific security issues mobile banking customers face when using three mobile banking channels: Web browser, app, and SMS texting."
A turning point in the history of mobile financial services
"With 2011 drawing to a close, it’s clear that the year has seen exciting changes in mobile banking and payments, with innovative advancements to enhance the consumer experience being delivered. In particular, there have been positive developments from UK banks and retailers in the mobile banking space, culminating in the launch of Lloyds TSB’s successful new banking app. Earlier in the year, ING Direct paved the way for banking innovation, with the news that the organisation is offering the use of ‘Bump’ technologies to transfer funds in a simple and convenient manner."
Charles Schwab Expands Mobile Banking and Investing Offerings with New App for the iPad
"Expanding its suite of integrated banking and brokerage mobile services for investors, Charles Schwab today announced that a new Schwab app for the iPad is now available for download. iPad users will now be able to transfer funds between Schwab Bank and brokerage accounts, manage their trades and keep up with market information with automatically updating quotes and the latest financial news through their Schwab app."
UBA reaffirms preparedness to implement CBN’s cashless policy
"With barely five days before the commencement of the Central Bank of Nigeria’s (CBN) ‘Cashless Lagos’ pilot scheme geared towards reducing the cost of managing cash in the economy, United Bank for Africa (UBA) Plc has restated its preparedness to fully implement the policy, claiming that time is long overdue for customers, particularly small depositors, to fully embrace self-service electronic banking services. In July, the bank had adopted critical measures to encourage its customers to embrace electronic channels."
RBI Removes INR 50K Cap on Mobile Banking Transactions
"RBI (Reserve Bank of India) has removed INR 50,000 cap on mobile banking transactions. However, banks may place per transaction limits based on their own risk perception with the approval of its Board.
Mobile banking in India is set to generate fee-based income of Rs 20,250 crore over the next five years, mainly driven by lower transaction cost, favourable regulatory environment. By 2015, $350 billion in payment and banking transactions could flow through mobile phones, compared with about $235 billion of total credit- and debit-card transactions today."
Halifax and RBS launch mobile banking apps
"The two banks are responding to the fast-paced growth of smartphones in the UK, with more than a third of people using a smartphone. The apps will be available across all popular smartphone platforms, including Blackberry, Apple, Android and Nokia. The apps will allow customers to access their any of their accounts with Halifax or RBS, including personal accounts, savings accounts and credit cards."
African Banks Turn to IBM to Support New Wave of Innovation in Banking Services
"Over the last six months IBM has signed contracts with five of Kenya's leading banks: Credit Bank, Co-operative Bank, Family Bank, National Bank of Kenya and National Industrial Credit (NIC) Bank. The agreements are amongst more than 20 similar deals that IBM has signed with banks across Africa in 2011 in line with the rapid growth of the financial services sector and as technology enables a wave of innovation in African banking. IBM is also working with Africa's leading telco companies to help provide financial services based on increasingly widespread mobile devices. For example, through its partnership with Vodafone, IBM is helping Safaricom to provide its M-PESA mobile money service to over 15 million customers in East Africa."
Wednesday, January 4, 2012
Mobile Banking Updates - Jan 4
Mobile Banking to Mature, Expand in 2012
"In a recent survey conducted by Forrester Consulting on behalf of financial services technology specialist Fiserv, analysts discovered that several innovative solutions may expand the functionality of mobile banking in 2012.
'After several years of technology-driven expectations, mobile banking is finally seeing sustained traction in the U.S., and banks have rolled out support broad enough to enable consumers with nearly any mobile device to access basic banking functionality,' explained Forrester vice president Brad Strothkamp."
2011 - Review of the Year
"Oh what a year that was. So much going on, at such breakneck speed, that it was hard, at times, to keep up. What better way to end the year then, than with a round-up of the highlights of the past 12 months in mobile marketing.
We have tried to keep this brief, but with the best part of 2,500 stories to summarise, we apologise if our version of brief doesn't quite tally with the accepted one. But if our roundup helps you get a feel for what's been going on over the past 12 months, in return for just 10 minutes or so of your time, we hope you'll forgive us..."
5 Ways Mobile Banking Alerts Can Benefit You
"Some people are only comfortable when they're keeping constant watch on their finances -- and it can seem even more important during an economic recession, when money may be tight or job security uncertain. The fear of fraud has also grown, as banks rely increasingly on potentially insecure processes like electronic transactions."
Monitise, FIS agree to develop mobile money services
"Monitise has signed a five year strategic partnership agreement with banking and payments technologies provider, FIS, to develop mobile money services for existing and new clients in a move that is expected to further strengthen FIS's role for financial institutions. Under the terms of the deal, a mobile development and deployment team will be created to help banks and other financial institutions in creating new secure products and services to defend and extend their role in the payments industry."
Anchor Bank Selects Premier from Fiserv
"Fiserv, Inc., a leading global provider of financial services technology solutions, today announced that Anchor Bank, headquartered in Aberdeen, Wash., has selected the Premier(R) bank platform and a host of additional Fiserv solutions. The $489-million financial institution cited the flexibility and integration of Fiserv products and services, plus enhanced efficiencies, as key factors in its decision to choose Fiserv."
INFOGRAPHIC: How Will Mobile Banking Change In 2012?
"These days, just about anyone with a smartphone can find a nearby ATM with a few keystrokes, divvy up funds across several accounts and pay bills in seconds. And if this report by Fiserv, Inc. is any indication, you can expect even more mobile banking advances in the new year. Eight of ten banks surveyed said they're planning to invest big-time in a suite of mobile payment functions that will undoubtedly make your life easier."
"In a recent survey conducted by Forrester Consulting on behalf of financial services technology specialist Fiserv, analysts discovered that several innovative solutions may expand the functionality of mobile banking in 2012.
'After several years of technology-driven expectations, mobile banking is finally seeing sustained traction in the U.S., and banks have rolled out support broad enough to enable consumers with nearly any mobile device to access basic banking functionality,' explained Forrester vice president Brad Strothkamp."
2011 - Review of the Year
"Oh what a year that was. So much going on, at such breakneck speed, that it was hard, at times, to keep up. What better way to end the year then, than with a round-up of the highlights of the past 12 months in mobile marketing.
We have tried to keep this brief, but with the best part of 2,500 stories to summarise, we apologise if our version of brief doesn't quite tally with the accepted one. But if our roundup helps you get a feel for what's been going on over the past 12 months, in return for just 10 minutes or so of your time, we hope you'll forgive us..."
5 Ways Mobile Banking Alerts Can Benefit You
"Some people are only comfortable when they're keeping constant watch on their finances -- and it can seem even more important during an economic recession, when money may be tight or job security uncertain. The fear of fraud has also grown, as banks rely increasingly on potentially insecure processes like electronic transactions."
Monitise, FIS agree to develop mobile money services
"Monitise has signed a five year strategic partnership agreement with banking and payments technologies provider, FIS, to develop mobile money services for existing and new clients in a move that is expected to further strengthen FIS's role for financial institutions. Under the terms of the deal, a mobile development and deployment team will be created to help banks and other financial institutions in creating new secure products and services to defend and extend their role in the payments industry."
Anchor Bank Selects Premier from Fiserv
"Fiserv, Inc., a leading global provider of financial services technology solutions, today announced that Anchor Bank, headquartered in Aberdeen, Wash., has selected the Premier(R) bank platform and a host of additional Fiserv solutions. The $489-million financial institution cited the flexibility and integration of Fiserv products and services, plus enhanced efficiencies, as key factors in its decision to choose Fiserv."
INFOGRAPHIC: How Will Mobile Banking Change In 2012?
"These days, just about anyone with a smartphone can find a nearby ATM with a few keystrokes, divvy up funds across several accounts and pay bills in seconds. And if this report by Fiserv, Inc. is any indication, you can expect even more mobile banking advances in the new year. Eight of ten banks surveyed said they're planning to invest big-time in a suite of mobile payment functions that will undoubtedly make your life easier."
Tuesday, January 3, 2012
Mobile Banking Updates - Jan 3
Click to view: Mobile Banking & Payments: Consumer Behavior in 2011
What Will Technology Look Like in 5 Years?
"Some predictions are easy. Mobile banking and tablet banking apps will become more sophisticated. Context-aware computing, highlighted by Executive Editor John Adams in this month's Hot Topics, will let your smartphone sense where you are and automatically adjust the way it interacts with you, for instance switching to voice activation in the car. Aggregators will emerge who will let consumers maintain their entire financial lives on their mobile device."
Synovus Bank Launches New Free App
"Synovus Bank, which includes local Bank of North Georgia branches, has introduced the new Synovus Mobile Banking application, a free mobile banking solution which can be accessed by virtually any mobile device. The app delivers easy, quick and secure banking access via any mobile device. Customers can:"
Will Mobile Devices Kill the Credit Card?
"New innovations in mobile banking are making it possible to transfer the entire payment experience from the plastic credit card to your mobile device. New upstarts with funny names that sound nothing like typical financial names - like Dwolla, Venmo and Square - are going far beyond just enabling you to use your mobile devices to check balances on-the-go: they are transforming mobile devices into payment mechanisms at point-of-sale destinations around the nation. New geo-fencing technology is making it possible for apps loaded on your smart phone to "communicate" with the payment systems of retail stores, eliminating the need to stand in line to make a purchase or even to interact with a sales clerk. So at what point will mobile devices end up killing off the $2 trillion credit card industry entirely?"
Three 2012 trends for Community Banking
"Boston is the backdrop for some of the most prestigious financial companies in the world. The attractive demographics of Boston are based on the elite institutions that employ and educate Boston residents. Boston banks have seen a high level of customer turnover due to consumer dissatisfaction with fees and an overall impersonal banking experience. "
CUSN Adds Four CUs to Mobile Banking Roster
"Four more credit unions are now offering their members mobile banking through CU Service Network LLC of Lakewood, Colo., the CUSO said. They are the $14 million Cornerstone CU of Des Moines, Iowa; the $157 million Fitzsimons CU of Lakewood, Colo.; the $297 million State Employees CU of Santa Fe, N.M.; and the $30 million Westminster FCU of Westminster, Colo., CUSN said."
Monday, January 2, 2012
Mobile Banking Security - Jan 2
McAfee predicts 2012 to see more attacks on mobile banking apps
"Mobile financial services are attracting more and more attention, and not all of it is good. According to technology security company McAfee, more consumers are accessing their financial services via mobile devices and bad guys are looking to exploit that shift.
McAfee Labs released its 2012 Threat Predictions report, and along with apocalyptic-sounding cyberattacks on utilities and infrastructure, attacks on mobile devices, especially attacks targeting mobile banking, are high on the list of threats." Click to view the 2012 Threat Predictions report
Mobile Banking Security
"When is the last time you were inside your bank? It’s probably been awhile. With ATMs and online banking, and mobile banking, there’s rarely ever a need to visit a teller. And with the growing number of banking apps, we can virtually carry our banks in our pockets and purses. But at what cost?"
Mobile Banking: Rewards and Risk
"A recent study looked at the security of four types of mobile applications – financial services, social networking, productivity, and retail. The study focused on the types of sensitive data that mobile applications store on the device and whether these data were stored securely. Each application was rated..."
Remote SMS Attack Can Force Mobile Phones to Send Premium-rate Text Messages
"Attackers can force mobile phones to send premium-rate SMS messages or prevent them from receiving messages for long periods of time by leveraging a logic flaw in mobile telecommunication standards. The flaw was discovered by independent security researcher Bogdan Alecu, who demonstrated how it can be exploited at the DefCamp security conference in Romania on Saturday."
Javelin Reveals the Most Secure Mobile Banking Channels
"avelin Strategy & Research's latest Mobile Banking Security report evaluates the specific security issues mobile bankers face when using three mobile banking channels: web browser, application, and SMS texting. With 44% of banking consumers, the mobile browser is the most widely used of the three channels and is perceived by the consumer to be the most secure. Mobile bankers with smartphones view the browser as an extension of online banking. However, banking using a downloaded app is the second most widely used channel and actually the safest for mobile bankers, with 25% of consumers using this channel. This channel is. App banking has the potential to replace online banking altogether and serve as the consumer's primary access to the FI."
"Mobile financial services are attracting more and more attention, and not all of it is good. According to technology security company McAfee, more consumers are accessing their financial services via mobile devices and bad guys are looking to exploit that shift.
McAfee Labs released its 2012 Threat Predictions report, and along with apocalyptic-sounding cyberattacks on utilities and infrastructure, attacks on mobile devices, especially attacks targeting mobile banking, are high on the list of threats." Click to view the 2012 Threat Predictions report
Mobile Banking Security
"When is the last time you were inside your bank? It’s probably been awhile. With ATMs and online banking, and mobile banking, there’s rarely ever a need to visit a teller. And with the growing number of banking apps, we can virtually carry our banks in our pockets and purses. But at what cost?"
Mobile Banking: Rewards and Risk
"A recent study looked at the security of four types of mobile applications – financial services, social networking, productivity, and retail. The study focused on the types of sensitive data that mobile applications store on the device and whether these data were stored securely. Each application was rated..."
Remote SMS Attack Can Force Mobile Phones to Send Premium-rate Text Messages
"Attackers can force mobile phones to send premium-rate SMS messages or prevent them from receiving messages for long periods of time by leveraging a logic flaw in mobile telecommunication standards. The flaw was discovered by independent security researcher Bogdan Alecu, who demonstrated how it can be exploited at the DefCamp security conference in Romania on Saturday."
Javelin Reveals the Most Secure Mobile Banking Channels
"avelin Strategy & Research's latest Mobile Banking Security report evaluates the specific security issues mobile bankers face when using three mobile banking channels: web browser, application, and SMS texting. With 44% of banking consumers, the mobile browser is the most widely used of the three channels and is perceived by the consumer to be the most secure. Mobile bankers with smartphones view the browser as an extension of online banking. However, banking using a downloaded app is the second most widely used channel and actually the safest for mobile bankers, with 25% of consumers using this channel. This channel is. App banking has the potential to replace online banking altogether and serve as the consumer's primary access to the FI."
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