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."