"Brandon McGee, Industry Insider, Mobile Banking Guru...He is not only the real deal, a genuine industry insider, but also knows exactly what's on the minds of financial service pros as they contemplate the various mobile options." - Jim Bruene, Publisher & Founder, Online Financial Innovations

"Going Mobile. Local executive carves niche as national expert on fast-growing banking-industry technology trend" - Scott Olson, Indianapolis Business Journal (IBJ)

"Brandon McGee, the industry's unofficial ambassador for mobile banking" 

Tuesday, April 17, 2012

Mobile Banking Updates - Apr 17

Business mobile banking launched
"In March Bank Millennium launched phone banking for business accounts. It is available to all self-employed users of Biznes accounts with access to Millenet. An urgent transfer while on a train, termination of a deposit just before payment for a service, phone top-up while riding in a lift is run-of-the-mill in mobile banking, at the same time being services, which make life easier for small businesses. Operating business accounts by phone works the same as for private accounts - it only takes a change of context i.e. with a single click to toggle between private and business accounts. Mobile banking is available with use of a special Mobile Application for Android smartphones and iPhones as well as in a "light" browser version for cellphones."

E-wallets put money back in your pocket
"Your 16-year old daughter is going out for a night on the town, and you are worried that she might run out of money. In the past few days a new solution has emerged. If need be, you can use your mobile phone to transfer money within seconds to her account, and she can then take it out immediately in cash from an ATM.

Barclays launched this transmission service for its smartphone users a few weeks ago and on Thursday extended it to non-customers. People have been signing up at the rate of 10,000 a day."

M-PESA extends its reach
"New data from the fourth round of a survey of Kenyan households confirm what every visitor to this East African nation knows: the spread of mobile technology and its adoption by broad swathes of the population continues. Probably the most successful of all the innovative mobile solutions is M-PESA, Safaricom’s mobile banking product that allows users to send money across the country (and recently, beyond) in an instant, as well as providing a safe and secure savings instrument, and a convenient bill payment capacity."

Mobile Banking Vendor Selection: Not A Straightforward Journey
"As I started my Market Overview of Mobile Banking Solutions, one thing was apparent: the vendor landscape is in flux. To further demonstrate this point, over the last few weeks, Montise announcedacquisition of Clairmail and Clairmail announced Clairmail Plus, a solution targeting mid-tier regional banks, community banks and credit unions. With the constant movement, it’s not easy to navigate through the vendor landscape."

Mobile Payments Startup Beamit Raises $2.4M From Founder’s Co-op, Jeff Bezos, Eric Schmidt & Others
"Mobile payments platform Beamit, which focuses on international money transfers between the U.S. and developing markets, has just closed a $2.4 million seed round led by Founder’s Co-op, with participation from Bezos Expeditions (the personal investment company of Jeff Bezos), TomorrowVentures (the investment vehicle for Eric Schmidt) and a small group of angel investors. The funds will be used to further product development as the company moves towards public availability, currently slated for Q3 2012. The company says the first market being targeted is the Philippines."

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