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."