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."