International Mobile Banking Updates - Feb 13

Svyaznoy mobile banking on success
"The management of Russian mobile phone retailer Svyaznoy say they intend an IPO in London within two or three years. In the meantime, they are going to sell part of the business to private investors to raise money for its new banking activity. Svyaznoy started its banking business in 2010 after buying Promtorgbank and re-naming it Svyaznoy Bank."

S. Koreans' mobile banking use doubles in 2011
"The use of mobile banking in South Korea more than doubled in 2011 from a year ago on the back of the ballooning local smartphone user population, the central bank said Monday. Mobile banking transactions reached an average of 7.67 million per day in 2011, growing more than two-fold from 3.74 million in the previous year, according to the Bank of Korea (BOK)."

JP Morgan launches ACCESS mobile banking platform in Asia Pacific
"JP Morgan Treasury Services has unveiled its ACCESS Mobile banking platform in Asia Pacific. The new platform allows cash management clients the ability to view balance and transaction information at any time via smartphones and tablets. The new platform includes the ability to view multicurrency cash balances, transaction details and third-party bank accounts in key Asian markets and globally."

Kenya: How Mobile Banking Has Changed Lives
"Long queues and journeys to the bank for payment of salary is a thing of the past for Mr Martin Wanzala, a cane cutter for Mumias Sugar Company in Western Kenya. Like many of his workmates, he started receiving his salary mid last year through his mobile phone."

Abu Dhabi group enters in mobile financial services
"Abu Dhabi Group has entered into mobile banking to grab its sharing in the fast emerging mobile and branchless banking in Pakistan. The group has launched an independent mobile financial services company. Abu Dhabi Group (ADG) is one of largest investors in Pakistan and has been operating in the country since 1997. The group companies have over USD 6.5billion in total assets in Pakistan. ADG has invested in banking, telecommunications, real estate, insurance, sugar, asset management and health care sectors.

The group has made significant contribution towards development of many sectors in Pakistan, directly through its companies as well as indirectly, positively affecting the lives of millions of Pakistanis who experience group’s products & services, every day, from fast & efficient banking transactions to high speed internet to reliable mobile communication to advanced diagnostic & preventive techniques for healthcare."