Mobile Banking Updates - May 31

Bank of America Taking Mobile Banking By Storm
"Bank of America has slowly and steadily become a major force to be reckoned with in mobile banking. More customers, the financial titan said Thursday, now choose Bank of America to bank on-the-go more than any other bank. Over 10 million Bank of America customers are now using mobile banking, representing growth of nearly 3 million active users over the last 12 months."

Wells Fargo Launches Simplified Person-to-Person Money Transfer Service Nationwide
"Wells Fargo & Company WFC +0.16% today announced the launch of Send & Receive Money, a new service that simplifies Wells Fargo customers' payments to other Wells Fargo and Bank of America customers through online and mobile banking using an email address or mobile phone number. Wells Fargo customers no longer need to know their recipient's account number at Wells Fargo or Bank of America. Wells Fargo is the first bank to roll out nationally the clearXchange service for person-to-person payments."

San Antonio Federal Credit Union taps WRG and Vertifi for mobile banking
"The mobile solution, branded as GOTM from SACU, allows members to access their accounts anywhere and anytime with many enhanced functions including the ability to pay bills, transfer money, and deposit checks using the embedded camera on the smart phone. The check deposit feature, GoDeposit, is powered by Vertifi's DeposZip Mobile service, the leading household and business remote deposit service in the credit union industry."

U.S. Bank Tablet Banking App Built on Mobiliti from Fiserv
"The app is built on the Mobiliti Enterprise platform, which the bank also uses to support mobile banking, enabling integrated channel management and analytics. Fiserv, Inc., a leading global provider of financial services technology solutions, today announced that U.S. Bank's online banking customers now have access to an iPad(R) banking application (app) built on the Mobiliti Enterprise(TM) mobile banking and payments platform from Fiserv. The U.S. Bank app serves consumers' growing interest in tablet banking. According to the 2011 Fiserv Consumer Trends Survey, 45 percent of current and prospective tablet owners use or would like to use them for banking."

Nokia Dreams of NFC Image Sharing, Mobile Banking for its 808 PureView
"Nokia wants to enable image sharing on its 808 PureView using Near Field Communication (NFC) technology. Say that tens time fast. Speaking with Engadget, the company expressed interest in the idea and said “picture sharing would be possible across devices.” Devices, meaning the feature won’t be exclusive to 808 PureView users. Who wouldn’t want to share their 41-megapixel mirror shots with friends using NFC? We’re guessing you’ll only be able to share low-res images, since those 41-megapixel shots exceed 100MB."

International Mobile Banking Updates - May 30

Where Does the Future of Mobile Banking Lie?
"Karl Rieder, Director of Research & Development at The GFT Group, is chairing the Marketforce and the IEA Annual Future of Mobile Banking Conference 2012, on Tuesday 29th May in London. 'This is an extremely interesting time to be in mobile banking,' Karl Rieder comments, 'While mobile technologies have significantly changed our lives and businesses, mobile banking has yet to take a real foothold as compared to other industries, but we are at a tipping point, and some big things are right around the corner.'"

The Future of Mobile Payment Systems: Rise of the Mobile Wallet 2012-2017
"Currently there are over 30 different mobile payment solutions each with their own technologies, advantages, and disadvantages. Existing mobile solutions are categorized based on the payment settlement methods that are prepaid (using smart cards or digital wallet), instant paid (direct debiting or off-line payments), and post paid (credit card or telephone bill)."

Q and A: Barclays looking to extend Pingit into full blown mobile banking
"Barclays told CBR that will be extending the functionality of its Pingit money transfer app over the coming months, with an eye to releasing a ‘full’ mobile banking app. CBR spoke to Barclay's Richard Martin, managing director, payments and cash management products, and Mike Walters, head of UK corporate payments product management about the future of its smartphone app, Pingit."

Nigeria: RenCap Seeks Policies for Mobile Banking Growth
"Renaissance Capital (RenCap) has called for policies that will stimulate the growth of mobile banking in Nigeria. The international financial advisory firm in a report Tuesday expressed concern that why the use of the banking platform has recorded significant success in Kenya, same could not be said of Nigeria. It added: 'The structure of Kenya's economy and regulatory environment supported the development of mobile banking. Following the introduction of mobile banking the number of Kenyans with bank accounts has increased from 1 million to 15 million.'"

Westpac to develop technology in-house
"Despite cutting several hundred jobs and being accused of planning to offshore the majority of its IT operation, Westpac technology chiefs say the development of new mobile applications and innovative solutions for the banking group must be handled in-house. Chief information officer Clive Whincup and chief technology officer Jeff Jacobs used a technology media briefing last week in Sydney to unveil two new iPad apps developed in Australia by a team of about 50 staff. The team, comprised primarily of former St George Bank developers and additional personnel, bases app features on insights garnered from consumer and user behavioural research."

Push to go mobile keeps bankers appy
"MOBILE banking is quickly becoming the new battleground for major banks as an explosion in the number of Australians using smartphone apps threatens their grip on customer payments. The big four are scrambling to keep up with customer demand for hyper-mobility with the number of smartphone users expected to increase globally to 631 million by 2015, up from 172 million in 2009, according to the World Retail Banking Report 2012."

Dial M for mobile banking apps
"Smartphones are revolutionising personal banking and throwing up some bizarre juxtapositions of old and new. In the United States, where cheques are still common, Chase Bank has developed an iPhone app that lets customers photograph the front and back of cheques and submit the images, via their iPhone, to the bank to be deposited into their account."

Absa online banking crashes - on payday
"It is not the first instance of a South African bank apparently failing to manage the huge migration of customers to online banking. In March First National Bank had to weather a storm of protest when it suffered a systems failure for several hours. On Friday an Absa spokesman said the bank's system engineers were trying to resolve the problem, but by 3.45pm the website was still not accessible after being unavailable all morning."

Mobile Banking Security - May 29

80% of mobile banking apps may have security flaws
"Neal O’Farrell, executive director of the nonprofit Identity Theft Council, spoke about the seriousness of mobile security as part of San Francisco Small Business Week, Cult Of Mac reported. 'There were more data breaches than U.S. residents last year and more cases of identity theft than just about all other crimes combined,'"

Action Line: Mobile banking scam a growing concern
"The FBI warned on Jan. 11 that 'crafty criminals are aiming to steal one of the most valuable pieces of your personal property: banking information,' says a Bankrate.com email. It warns mobile banking account holders of spam emails from National Automated Clearing House Association, the Federal Reserve and the FDIC in a scheme involving a new type of malware - 'Gameover.' The scheme involves spoofed messages that attempt to trick recipients into clicking on links to resolve issues with their accounts or recent ACH transactions. When you click on links, Gameover hijacks your computer and its criminal operators steal user names, passwords and ultimately your money."

How Safe is Mobile Banking?
"Most of us are now totally comfortable with using technology to do our banking. However, when it comes to knowing whether mobile or internet banking is safest, most of us are at a loss. The truth is there are pros and cons to both. Your internet connection might be safer because you've installed a decent security system, or it could be that your mobile with its passcode is the more secure option."

NAB warns of mobile malware threat "NAB, which today revealed that its customers funnel $1 billion a month through its mobile banking applications, has warned that mobile malware and poor mobile security is going to be a much bigger issue in the future and that that companies serving up mobile content ignore the issue at their peril. Speaking at Cebit in Sydney today, Ben Forsyth, head of mobile and emerging technology at NAB, said that at present users had experienced only the 'tip of the iceberg' with regard to mobile security problems. As mobiles became an increasingly important transaction platform 'vulnerabilities are almost inevitable,' he warned."

Mobile Banking Updates - May 28

Who Will Win the Battle for the Mobile War
"Over the next five years paying with your phone will become as commonplace as paying with cash, which is why every man, his bank and his phone company are in the battle to win the mobile wallet space. So who's going to win?"

Ally Mobile Banking
"Ally Mobile Banking has arrived for iPhone® and Android™ users! Now you can check your balance, view recent transactions, transfer money between your Ally Bank accounts and find ATMs and cash-back locations near you."

iPad and Kindle Fire: Banking on Tablets
"A young, prosperous generation is becoming increasingly mobile, and its gadget of choice on which to perform day-to-day financial business is the tablet. A handful of banks, led by Bank of America (NYS: BAC) , are frontrunners in this brave new world of banking and will most likely reap the rewards while their counterparts dawdle."

Mitek enables $10B in mobile banking deposits
"Mitek Systems' imaging technology has now enabled $10 billion in mobile banking deposits, with transaction volumes increasing more than 143 percent since the end of 2011, the firm reports. Mitek's Mobile Deposit technology allows consumers and businesses to make financial deposits by snapping photos of checks via smartphone or tablet camera."

Consumers Prefer Online Banking to Traditional Branch Banking
"More than half of consumers prefer to do their banking online and nearly half would do all of their banking online if they could. This was a key finding of the national consumer survey on retail banking trends conducted by Rosetta, an independent brand in the Publicis Groupe of global agencies and one of the nation's largest digital and direct interactive agencies."

Mobile Banking Reaches the Regionals
"Mobile banking websites and apps have become increasingly important to smartphone users over the last several years. Nearly all major national banks now offer their customers a variety of ways to perform their banking on the go, and with demand as high as it is, regional banks can’t afford to sit on the sidelines either. One interesting case is Dollar Bank, located from southwestern Pennsylvania to northeastern Ohio, which has been riding the mobile wave long before many larger firms. So it shouldn’t be a surprise that Dollar Bank is once again beating many larger firms to the punch."

Mobile Banking Updates - May 24

3 Keys to Mobile Security
"Mobile banking is being adopted by consumers at an increasing rate, but it's just one piece of the overall mobile financial services puzzle. As the mobility trend grows, banking institutions are still figuring out how far ahead they should look, and what strategies make the most sense. But Paul Smocer, president of BITS, the technology policy division of the Financial Services Roundtable, says most institutions are doing much more than some observers give them credit for doing. Banking/security leaders are very concerned about mobile, and they're doing what they can to anticipate risks."

TMG on the Future of Mobile Payments
"The Members Group, in a wide-ranging webinar, offered up a provocative view of a banking future that in lots of ways challenges every idea credit union executives hold. 'Financial institutions do not have a God-given right to control payments,' said TMG executive Brian Day, who led the webinar on Thursday. 'Alternative payment providers want this market.' He pointed to Google, possibly Apple, certainly PayPal as aggressively on the hunt for thickening slices of the payments pie. To compete in a complex payments marketplace, said Day, 'credit unions need to look at creating new value for members and merchants.'”

SAP® Mobile Apps Connect Businesses and Consumers - from the Boardroom to the Shopping Center
"Extending its commitment to drive mobile innovation from the enterprise to consumers, SAP AG SAP -2.22% today announced a new wave of mobile apps designed to help people be more efficient whether at work, at home or pursing leisure activities. With the help of a thriving partner ecosystem, the new SAP® mobile apps lay the foundation for growth by providing real-time mobile access to human resources (HR), sustainability, finance, sales and mobile commerce functions. This includes updated versions of existing SAP mobile apps available on more mobile platforms, including Android and RIM BlackBerry. The announcement was made at SAPPHIRE® NOW, being held in Orlando, Florida, May 14-16, 2012."

Simple: Online And Mobile Banking With Style
"New services providing financial management usually evoke doubtful feelings within us, as we tend to rely on big, long-time running companies with a good reputation rather than small competitors new to the game. More or less exactly two years ago, in May 2010, Alex Payne joined and co-founded a company called BankSimple with the imagination of a bank without fees, caring for support and responsible money treatment — plus a love for good design and usability concerning its user-end products. It already sounded like an ambitious goal the day he published his announcement post."

Mobile banking app launched
"The app called Apprivo is being sold directly to banks and building societies with National Counties being the first mutual to take up the app. Customers will be able to access their accounts, access up to date product information, transfer money from one account to another and send outstanding information and documents including photos of wage slips and P60s. Advisers will also be able to use the app to submit information on behalf of clients in the same way."

To gain a competitive advantage with mobile, CIO readiness is all
"Ask Angelo Valletta, CIO at Sun National Bank, about IT's role in the company's sure-handed launch of its mobile banking platform back in early 2010, and he talks about team effort. Gaining a competitive advantage by being one of the first banks of its size to offer mobile banking was the result of a 'team going in the same direction,' says Valletta, who also heads bank operations at Sun National, a subsidiary of Sun Bancorp Inc., both headquartered in Vineland, N.J. 'IT is not the tail wagging the dog here.'"

Ally Expands Into Mobile Banking
"The latest TV commercial from Ally Bank, “Grocery,” (above) touts the brand’s "people sense" which translates into customer-centricity as good business sense, specifically, Ally’s Raise Your Rate CD, one of their most popular products. Ally Bank, a direct bank in the U.S., is a subsidiary of Ally Financial Inc., and offers a full suite of financial services including 24/7 live customer care, online savings, interest checking, money market accounts, IRA Plans and products, CD’s, reimbursement of ATM fees nationwide, an Ally Perks debit card reward program, and is a member FDIC."

Simple Releases First Mobile Banking App, Hits #13 in Finance Category of iPhone App Store
"The much-anticipated launch of the first truly virtual consumer bank is fast approaching. How do we know? From its tweets, of course (see inset). Customers who joined the wait list in 2010 are being told publically that they will receive invites "before spring is over." Others are being told "early summer," "mid-to-late summer," "early fall" and "fall." Based on those responses, it looks the company plans to work through its entire 100,000 wait list within the next 6 months."

International Mobile Banking - May 22

Mobile payment on the way, but who’s driving the bus?
"The Canadian Bankers Association announced on Monday what amounts to the next step in the evolution of how Canadians buy stuff. Sometime soon — details are not provided — we will be able to buy stuff in stores with a mobile phone thanks to a new set of common guidelines over how electronic information is exchanged agreed to by the country’s big banks and credit unions. It is hoped that the guidelines will pave the way for a transformation in the way Canadians interact with retailers, an acknowledgement of the growing importance of smartphones in the way we live our lives."

Commonwealth taps into mobile banking
"Commonwealth Bank Indonesia, a subsidiary of Commonwealth Bank of Australia, is tapping into the growing mobile-phone banking market in the country as the total number of middle-class consumers continues to expand in the largest economy in Southeast Asia. 'Up to 80 percent of [the Indonesian] population is younger than 40 years old, 35 percent of them use social media. If you look at the way people interact and travel in Indonesia, mobile phones play a key part,' Commonwealth Bank Indonesia’s director of retail and business banking, Ian Phillip Whitehead, said in Singapore on Friday."

Firstly in Georgia – mobile banking for iPhone and Android
"In May 15, 2012, 13:00 PM, TBC Bank will open its new branch on Vaja-Pshavela avenue 49 and will present the most comfortable and ultramodern distance banking service – special versions of mobile banking for iPhones and Androids. Mobile Bank applications will be presented by Vakhtang Butskhrikidze, CEO. TBC is the first bank in Georgia to offer its customers mobile bank applications on Apple Store which could be downloaded and used from 7th of May, 2012. More than 400 customers already use TBC’s mobile bank applications. Applications for Android phones are also ready and will be available almost immediately."

Can mobile banking boost financial inclusion in Nigeria? "Nigeria’s telecommunications sector has been one of the country’s star performers over the past decade. According to Standard Bank, Nigeria is already the world’s tenth-largest mobile market. South African mobile operator MTN closely studied the Nigerian market for three years before it entered the country in 2001. Today MTN Nigeria has over 40 million subscribers, its biggest market out of the 21 countries where it operates. Many other brands such as Glo, Airtel and Etisalat have also launched operations in Nigeria."

How mobile banking can help Asia's poor
"The iPhone has become a symbol of something Steve Jobs never envisioned: Chinese sweatshops. Any of us (full disclosure: This includes me) who use one of Apple's smartphones, iPads or iPods is, at least indirectly, supporting the exploitation of electronics factory workers in China. Yet, what if the iPhone is a key to ending the poverty that forces so many Asians to toil in such abhorrent conditions?"

Rogers and CIBC make joint deal for NFC mobile payments in Canada, let you check out with your BlackBerry
"Canadians sometimes can't catch a break: while NFC payments have been relatively common for Americans, Europeans and certainly the Japanese, Canucks have had to largely make do paying with ye olde credit carde. Rogers and national bank CIBC want to put an end to these antediluvian ways: starting later this year, CIBC card holders will just need to swipe an NFC-equipped BlackBerry like the Bold 9900 (Bold 9930 for CDMA-loving Americans) at a matching terminal to pay at a given store. The only special requirement is a secure SIM card that gives customers the freedom to change phones, even if it does create problems switching banks or carriers down the line. We're just hoping that Android and other platforms get the same treatment and let more of our Canadian friends pay for poutine that much faster."

Out of Africa: Trade, Technology, and Knowledge—Part 2, Mobile Wallet and Banking Revolution
"Greater information technology share and investment through regional and South-South relationships is ushering the growth of an information technology revolution in Africa. This burgeoning African information technology revolution is not just limited to cyber cafes, media and online university level courses, but it is also allowing Africans to leap frog in the application and use of mobile phones. While energy and infrastructure constraints provide challenges to the growth of this industry, approximately 70 percent of Africans have a mobile phone. Mobile phones are being used to overcome challenges greater than the basic day-to-day needs. They have been crucial in allowing an increase of media access, medical doctors to see patients from a distance (particularly in remote villages), and mobile banking. I spoke about these opportunities and some creative ways of using mobile banking technology with Beamit CEO Matt Oppenheimer."

Barclays Pingit Mobile Banking (UK Only)
"It was with great surprise that I saw Barclays Pingit being advertised whilst watching Food Network UK this morning. This app allows users to send money to and from each other via their mobile phone numbers. I’m not sure if you folks in the United States have something similar — although I seriously suspect that you do and have had such a thing for months if not years before us. But this app, in my opinion certainly, has the ability to change how we use money."

India’s Mobile Banking Ekosystem
"Mobile banking is just one of the reasons India is a place to watch for innovations in financial inclusion. This short film profiles one such innovation, Eko, to see how businesses chasing the fortune at the base of the pyramid are serving the needs of poor customers in India. Five years’ ago, Abhishek and Abhinav Sinha created a software program that allows migrant workers in cities across India to send money to their families using a cellphone. Now their company, Eko Financial Services Ltd., is working with two major banks, the State Bank of India and ICICI, India’s second largest bank, to offer financial services to poor and low income customers using local corner stores, pharmacies, and airtime resellers as agents."

Mobile banking takes off in Rwanda
"BANKS IN Rwanda are turning to mobile phones in an effort to improve service delivery and cut costs as competition intensifies. It is now possible to pay electricity bills, top up airtime, order cheque books, pay DSTV bills and transfer money using a mobile phone. This is in sharp contrast to two years ago, when banks in Kigali limited mobile banking to basic transactions such as checking the account balance and getting financial statements."

Mobile Banking Updates - May 21

Forrester: How do the top U.S. banks rank in their mobile services?
"Mobile is the new black: In 2011, the number of smartphone subscriptions in the U.S. grew by about 50 percent. Today, U.S. smartphone penetration is approximately 40 percent. This technological sea change is having an impact on the banking industry: In the past five years, U.S. mobile banking adoption has more than quadrupled, hitting 17 percent by the end of 2011. This represents a compound annual growth rate (CAGR) of more than 33 percent."

Finovate Spring 2012: Digital Financial Services Innovation
"I attended Finovatethis week to get a preview of new financial services digital technology vendors. I say preview because if you have ever been to Finovate, you know it’s a little like speed dating, where 63 vendors have 7 minutes each to show you their best moves. The themes at Finovate this year were not much different as previous years with the focus being on mobile banking, personal financial management, and payments. However, this year, a few new topics emerged: rewards, coupons, and mobile banking services for Pre-Paid Visas customers. Apparently, Pre-Paid Visas are the new black."

What will be the biggest mobile banking trends of 2012?
"Pieter De Villiers - CEO of Clickatell - told MyBroadband BusinessTech that the biggest mobile banking trends this year will be person-to-person payments, mobile cheque capture and customised apps. As you can see, businesstech.co.za is a South African site, but Clickatell is a global company - 'the largest Online SMS Gateway covering 819 networks in 221 countries and territories'."

RBS Citizens Financial Group, Inc. Extends Mobile Banking to Android(TM), Expands Online Banking and Mobile Banking Platforms
"RBS Citizens Financial Group, Inc. today unveiled enhanced online and mobile banking platforms for Citizens Bank and Charter One customers, with updates including person-to-person payments on the web and expanded mobile functionality that is now available to Android users in addition to iPhone users. 'Our customers have embraced the ease and convenience of online and mobile banking, and these enhancements are a direct result of our commitment to invest in the services that customers tell us are important to them,' said Brad Conner, Vice Chairman of Consumer Banking, RBS Citizens Financial Group. 'People are busier than ever, and we are committed to putting our customers in control and showing them how to take care of their banking needs anytime and anywhere.'"

Global Study Identifies Impact of Smartphone Use on Mobile Banking and Payments
"A study of mobile banking and payment adoption rates in 14 countries by ACI Worldwide ACIW -1.30% and Aite Group has discovered a new category of consumer, known as Smartphonatics, that is driving the demand for mobile payments and banking. A Smartphonatic is someone who changes their shopping, financial and payment behavior as a result of owning a smartphone. The report identifies a stark difference between mobile adoption among Smartphonatics and other consumers: while 80 percent of Smartphonatics have used their smartphones for mobile banking only one-third of non-Smartphonatics report doing so. Similarly 70 percent of Smartphonatics have used their smartphones for mobile payments, less than a quarter of non-Smartphonatics have done so."

Citi to Sponsor U.S. Olympic Team, in Campaign Promoting Mobile Banking
"For the first time, Citi will sponsor the United States Olympic and Paralympic teams, in an effort that includes an advertising campaign that will begin on Monday to help the company support athletes and advertise its mobile-banking products. It joins a number of other financial-services firms as an Olympics sponsor, including Visa."

Mobile Banking Updates - May 17

Post PC Era: Mobile Banking and Payments in Emerging Markets
"Mobile phones offer numerous benefits in emerging markets; they ensure the safety and security of money, make payments more convenient and promote M-Commerce opportunities for local entrepreneurs. They also present opportunities for western companies looking to move into these markets, as well as learning’s for those who want to implement similar mobile finance models in developed markets."

MOBILE BANKING INCREASING IN EMERGING MARKETS
"On Device Research, which use the mobile Internet to access consumer opinions, released a report looking at the mobile finance activities of mobile Internet users in emerging markets. The report found that 53 percent of mobile Internet users in India, Kenya, Indonesia, Ghana and Nigeria have engaged in mobile banking and payment activities. This is especially high in Kenya, where 96 percent of mobile Internet users have engaged in a financial activity via their cellphone. In addition, the report found that using mobile phones for financial activities is also popular in rural areas, with almost equal penetration compared to urban usage in some countries."

Clairmail breaking down barriers to mobile banking "With more people turning to their smartphones for purchases, web browsing and up-to-the-minute notifications, banks are scrambling to get their services to their customers in a reliable, customizable and secure way. By providing those services to banks and financial institutions, Clairmail Inc. has soared, managing more than 500 million transactions for 7 million users in 2011. 'We realize there is no single mobile banking experience that is a fit for everyone, which is why we provide a custom platform tailored to the needs of each of our financial institutions,' CEO Pete Daffern said."

Mobile Banking Security - May 16

Mobile Banking: Mitigating Consumer Risks
"Which security concerns should institutions be bracing for, as more consumers adopt mobile banking? BITS offers a collection of recommendations from some of the industry's top institutions. Most banks and credit unions know they can't shy away from mobile. But that doesn't mean they don't still have serious concerns about security risks. Paul Smocer, president of BITS, the technology policy division of the Financial Services Roundtable, says banking/security leaders increasingly just want to wrap their brains around the best way to mitigate the risks of mobility."

Major bank considers new security for mobile banking
"JPMorgan is considering implementing new technologies for its improved mobile banking solution that will keep sensitive information protected and ensure data quality remains high. Currently, the bank is looking into biometric technologies, specifically voice and fingerprint recognition, as a way to keep confidential records protected, according to a report by Bank Technology News."

Zeus Botnets Are Taken Down by Unique Team
"The NACHA session opened with dramatic video. Microsoft lawyers accompanied by U.S. marshals swooped into a characterless office building in Scranton, Pa., where they proceeded to seize computers that had been used to host giant botnet networks of zombie computers that–unbeknownst to their owners–were under the control of the so-called Zeus virus."

Security's not the biggest problem with m-banking
"There's a bigger worry than security when it comes to offering m-banking to the un- and underbanked. That is, how can banks make m-banking a going business concern? This according to Thabiso Moerane, mobile commerce ecosystem leader at Alcatel-Lucent, who will address the ITWeb Security Summit, taking place from May 15–17 in Johannesburg, South Africa."

Clairmail Leads New Era of Mobile Banking Security With RSA Certification
"Clairmail, Inc., the leader in mobile banking and payment solutions, today announced its acceptance to the Secured by RSA (R) Certified Partner Program and has certified interoperability between Clairmail's Mobile Banking Solution and RSA Adaptive Authentication software from RSA(R), The Security Division of EMC EMC +0.84% . Already an RSA Secured(R) Partner, the new interoperability partnership comes after rigorous RSA certification testing of Clairmail's Mobile Banking Solution and reinforces Clairmail's commitment to continually advancing platform security for end users and Financial Institutions (FIs)."

Protecting personal information extends beyond the Web, to mobile devices
"For most people, it is rare to go a day without going online or using a mobile device. While having access to the information you want and need makes life a lot easier, it's most important to use the Web wisely. Today, keeping personal information safe is a concern for virtually anyone using a computer or a mobile device to access the Internet. Given the fast pace at which technology develops, staying up to date on the latest ways to protect yourself is vital to guarding your personal information."

International Mobile Banking Updates - May 15

Mobile money transfers reach 16 percent of sub-Saharan African population
"Money transfer via mobile phones has expanded to 16 percent of the total population in sub-Saharan Africa, according to a new World Bank study that provides a global picture for how people save, borrow, make payments and manage risk. The Global Financial Inclusion Database, or Global Findex, has found only 3 percent of the population in the rest of the world take advantage of money transfers through mobile phones."

A bank that can go anywhere, anytime, and fits in the pocket
"This bank can go anywhere, is open anytime, and fits inside the pocket of your jeans. And this is what Citibank has unveiled – its complete suite of Mobile Banking Applications for today’s widely popular smartphones such as iPhone, Blackberry and Android phones. Aneth Ng-Lim, Citibank Country Corporate Affairs, said in a roundtable discussion with the media that their free mobile app was designed to fit the lifestyle of their clients who are always on the go and have a need to constantly access their accounts."

Uganda: Housing Finance Set to Introduce Mobile Banking
"Housing Finance Bank (HFB) has moved to introduce a virtual Bank account scheme which enables clients to effect payments and money transfers. The all inclusive account which is a partnership with MCash Uganda limited was unveiled last week and allows HFB customers to save and send money within Uganda."

International Finance Corp., MasterCard Foundation working to expand microfinancing in Africa
"The World Bank partner devoted to developing the private sector and The MasterCard Foundation will spend millions of dollars so more impoverished Africans can get loans and other financial services, officials said Monday. At a Johannesburg news conference Monday, officials from the International Finance Corporation, which is part of the World Bank group, and The MasterCard Foundation said they would spend $37.4 million over five years to support banks and other institutions across Africa that provide small loans, a strategy known as microfinancing. People around the world have used such loans to lift themselves out of poverty by starting or expanding small businesses, sending children to school or buying fertilizer for subsistence farms."

Rabobank releases mobile banking app for Windows Phone
"Rabobank, one of the largest banks in the Netherlands, has released a mobile banking app for Windows Phone. Like its counterparts for Android, Blackberry and iOS, the Rabo Banking App lets users take care of their banking needs, be it checking their balance, viewing account history or making transfers, wherever they may be."

Bank of Ireland launches mobile banking app
"From midnight tonight, those who bank with Bank of Ireland will be able to download a new mobile banking app for the iPhone from the Apple App Store. According to Bank of Ireland, the new app will deliver high-speed, secure bank account access to the 500,000 personal customers who have signed up for its online banking service."

Commonwealth Bank tapping into growing mobile banking market
"Commonwealth Bank Indonesia, a subsidiary of Commonwealth Bank of Australia, is tapping into growing mobile banking market in the country, benefiting the increasing number of middle-class people in the largest economy in Southeast Asia. 'Up to 80 percent of [the Indonesian] population is less than 40 years old, 35 percent of whom use social media. If you look at the way people interact and travel in Indonesia, mobile is the key part of that,' Commonwealth Bank director of retail and business banking, Ian Phillip Whitehead, said in Singapore on Friday."

Kiwibank app fights 'soulless' banking
"All banks want their customers to love them – but the drawcard feature of Kiwibank's first mobile banking app may make banking relationships even more intimate. Due to be released this week, the bank's iPhone app has the unique feature, when it comes to mobile banking, of assigning customers their own online relationship manager to help deal with any queries via text or email."

Mobile Banking Updates - May 13

Biggest trends in mobile banking
"Clickatell CEO, Pieter Streicher predicts that mobile check capture, person-to-person payments and customized apps will be the biggest trends in mobile banking this year. Streicher told MyBroadband BusinessTech that 90% of the banks they deal with have, or will have, a mobile strategy by the end of 2012. This is driven by the need to serve their customers in a more cost-effective manner and the need to offer more value added services."

Refundo offers mobile banking for Spanish speakers
"Roger Chinchilla and Grimaldy Dominguez grew up watching Latin American families struggle in Queens, New York. As entrepreneurs, the two have created a free mobile banking system to help Hispanics keep track of their money. Chinchilla came as a toddler from Honduras in 1986, and Dominguez arrived from the Dominican Republic as a child in 1993. As they tell it, both grew tired of watching workers pay sharp fees to cash paychecks at check cashers."

NACHA Conference: Mortal Danger for Small FIs
"Call this the loud message out of NACHA 2012: Financial institutions can choose to innovate. Or to die. And the pressures are higher on community banks and credit unions for a painful reason. 'The crux of the community bank and credit union model is to focus on customer relationships. But now that is all electronic,' said Carey Whaley, a vice president at the Independent Community Bankers of America, who put on a panel titled, 'Innovation: The Key to Smaller FI Survival?'”

Millennial Media Releases Comprehensive Report on Mobile Advertising in the Finance Industry "Millennial Media MM, the independent leader in mobile advertising, today released a report containing an in-depth look at mobile advertising in the finance industry. The report was produced in conjunction with comScore, and is the third edition of the Mobile Intel Series; it follows previous reports on Retail and Automotive. The Mobile Intel Series: Finance report contains detailed information on the mobile finance audience, how this audience uses mobile, what advertisers are currently doing to reach this audience, and what best practices brands can use to succeed in the space."

VISA President: we’ve “moved beyond” NFC
"This morning at the 2nd full day’s keynote at CTIA 2012, VISA President John Partridge offered the company’s view on how the mobile world will expand in the very near future. In and important step in the story of banking across the earth, mobile banking specifically, 2.5 billion “unbanked” adults across were introduced to mobile banking in the very recent past which has “transformed the lives of millions of people” said Partridge. “NFC technology has been the global mobile payment standard technology” noted Partridge, “this is a critical step,” through “VISA has moved beyond this method” with V.me by VISA."

Mobile Banking Updates - May 11

Great Western Bank Mobile
"Put your money where your mobile is! Great Western Bank’s FREE* mobile banking app** lets you bank on the go when it’s convenient for you. To begin using this app, you will need to enroll in Mobile Banking by creating a new account on the app. You cannot log into Mobile Banking with your Online Banking credentials. You will need to create an account to use Mobile Banking."

Report: Banks Should Do More To Optimize Websites for Tablets as Adoption Skyrockets
"Tablet adoption is set to grow 40% by 2016 and tablet users conducting mobile banking is growing at twice the rate of non-tablet users. These trends underscore the need for banks and other firms with B2C commercial and commerce websites to continue to invest to table-enable their websites, according to Javelin Strategy & Research. The Javelin report, entitled “2012 Tablet and Banking Report,” also points out that tablet-focused investments need to focus beyond the iPad, and take into account the growing use of Andriod-based devices, including Amazon’s Kindle Fire, said Javelin’s Mary Monahan,executive vice president and research director mobile."

Mobility Matters – Tracking the Mobile Banking Revolution: Online Only
"Stopping Mobile Fraudsters. What if the hunt for ways to stop theft in the mobile banking channel has been looking in all the wrong places? That tantalizing idea now is being floated by new-style fraud stoppers. One reality: right now, mobile banking suffers much less criminal theft than does online banking. That is fact and, yes, it also has a lot to do with the 15-year head start criminals have in stealing from online banking channels. Mobile criminality will catch up, no doubt about it."

Chase’s mobile banking strategy leads the pack: Forrester
"With 17 percent of adults actively banking via mobile devices, financial institutions are meeting basic needs but few offer more advanced functionality, according to a new report from Forrester Research. In the report, 2012 US Mobile Banking Functionality Rankings, the research shows that Chase is the highest scorer among leading U.S. banks when it comes to mobile banking. Out of a score of 100 on the Mobile Banking Functionality Benchmark, the financial institution had an overall score of 74 compared with the average of 64."

Mobile Banking International Updates - May 10

MTN Says Subscribers Advanced 3.7% to 170.6 Million in March
"Africa’s largest mobile-phone company, said subscriptions rose 3.7 percent in the first quarter as users were attracted to its data packages and mobile banking facilities. MTN had 170.6 million subscribers at the end of March, compared with 164.5 million at the end of December, the Johannesburg-based company said today. In Nigeria, the company’s biggest market, it added 1.26 million new customers while South Africa contributed 3.2 percent more users, MTN said."

RHB Now Mobile Banking app available "
Mobile Banking app is now available on iPhone, iPad, Android and other smartphones for free. Customers who download it will be able to enjoy mobile banking services such as Account Enquiry, Bill Payment, Fund Transfer, Prepaid reload, Branch/ATM locator and Assistance."

AhnLab Reports the Analysis of the Best Apps in the Android Market
"AhnLab, Inc. ( http://global.ahnlab.com ), a leading provider of integrated security solutions, today announced that its research has identified many popular Android apps are asking for excessive permissions to access to the user data. AhnLab analyzed 178 best rated android apps using AhnLab Mobile Smart Defense (AMSD), cloud-based application analysis platform which verifies the security of Android apps. AMSD scanned 178 apps in five different types of permissions including: Personal information access, service information access, location information access, service charging and device information access. In this analysis, the degree of risk was marked on a scale from 1 to 100 by each type of permission, and the apps recorded 60 and above are classified as malicious."

Tanzania: PBZ Set for Mobile Money Transfer
THE People's Bank of Zanzibar (PBZ) plans to introduce mobile money transfer (Z-Pesa by Zantel) later this year to cater for the rising demand for financial services. The PBZ's Director of Marketing and Business Development, Mr Juma Hafidh, made the remarks over the weekend in Dar es Salaam at the launching of a special local television programme 'Mwana Dar es Salaam.' 'The installation of the mobile system has been completed and what remains is finalisation of some logistics with regulatory bodies,' he said."

The Mauritius Commercial Bank Delivers the First Mobile Banking Service in Mauritius with Oracle FLEXCUBE Direct Banking
"Oracle today announced that The Mauritius Commercial Bank (MCB), the oldest and largest banking institution in Mauritius, and one of the leading banking institutions in the Indian Ocean and in the Sub-Saharan region, has implemented Oracle FLEXCUBE Direct Banking to provide internet and mobile banking services to customers. MCB is the first bank in Mauritius to introduce mobile banking services and 96 per cent of its registered mobile banking users are already actively using the facility."

Developing Countries Are Revolutionizing Mobile Banking
"Barclays of U.K. launched Pingit, a service that lets people send and receive money using a smartphone. But this isn't the first big innovation in mobile banking. These innovations are already happening in developing countries. Poor countries are jumping ahead of rich ones by building a 21st century infrastructure (because they have little legacy infrastructure to begin with). For example, India has leapfrogged from no land-line telephones to the latest in wireless telephony. That revolution, in turn, is causing India to leapfrog brick-and-mortar banking to wireless banking for the masses. We see similar patterns in other poor countries as well. Mobile money transfer in Africa, M-Pesa, is a case in point. Counterintuitive as it may seem, poor countries may be ahead of rich countries in mobile banking."

Canadians embracing mobile banking
"The benefits of owning a smartphone are many: Handling work issues when you’re not in the office, staying connected with friends and family, settling that late-night bet about John Travolta. But for millions of Canadians, smartphones are becoming their go-to device for paying bills and checking bank account balances."

Mobile banking in India does not need a one-size-fits-all solution
"Mobile banking is a new generation platform available to customers for conducting balance inquiries, account transactions, utility payments, and other banking activities using a mobile handset. Mobile banking services in India started with SMS banking way back in 2002. With an increasing mobile subscriber base in India, mobile banking has picked up steam in recent years."

Mobile Payments - May 9

Taking a mobile and a wallet to the shops?
"Making payments on the move and at the touch of a button isn't the future of banking; it's already here. Mobile phone providers have been quick to focus on finding new ways for customers to access financial services and products from their phones. The Barclays PingIt app is now open to all UK bank and building society accounts, for example, and the Orange Quick Tap app will be available on new Android handsets in the coming weeks, but it is O2 taking all the headlines with the launch of its all-encompassing O2 Wallet this week."

Payments 2012: Mobile Banking Users More Profitable and Loyal
"Those who use mobile banking are among the most loyal and profitable bank customers, according to Ginger Schmneltzer, SVP of digital channel management for SunTrust Bank. Schmeltzer, speaking during a session at the Payments 2012 industry conference organized by NACHA - The Electronic Payments Association, said SunTrust's mobile bankers are 32 percent more profitable than those who don't use the channel and tend to be more loyal. Additionally, Schmeltzer noted they are more active checking account users, and more frequent users of ATMs, call centers and branches."

Mobile payments: Tech titans move in, but consumers still trust banks
"If you had lunch recently at Boom Noodle at Seattle’s University Village, the server handed you your check in a folder, like at any restaurant. But this folder was different. This was Rail. Rail is a wireless device that integrates with point-of-sale systems to let diners swipe credit cards and pay their bills at the table, eliminating the need for servers to deal with payment processing at all. It’s also designed for a future when patrons dispense with the card and just use their phones to pay."

Are Mobile Payments in Trouble? (Source: mobiledia.com)
"Mobiledia examine the mobile banking industry and find that despite retailers, financial institutions, carriers and phone makers all banking on mobile payments, the emerging industry could hit a significant roadblock: reluctant consumers, concerned about privacy and security:"

Mobile Banking Security - May 8

6 Top Mobile Banking Risks
"Banks and credit unions that don't take steps now to anticipate mobile banking and payment risks will suffer consequences in the long run, according to new research from BITS, the technology policy division of the Financial Services Roundtable. 'Clearly, they need to be doing a good risk assessment,' says Paul Smocer, BITS' president. 'Banks need to understand where there might be different and unique threats.'"

Mobile Bankers Love Convenience, But Security Concerns Remain
"Slow speed and lack of confidence are among the top reasons consumers don’t use mobile banking more often. People also are more comfortable banking on home computers than in branches or on mobile phones. An overwhelming majority (94%) of U.S. consumers who use smartphone and online banking describe banking from their mobile device as “easy.” More than three quarters (77%) say it is “convenient,” but only 42% feel it is reliable, according to a study released by Infosys."

Improving Mobile Banking Security
"Mobile banking platforms and applications offer unique security risks and challenges, but many financial institutions fail to adequately address those risks upfront. What steps can financial institutions take to control and enhance security of their mobile platforms and applications? Brian Pearce and Amy Johnson of Wells Fargo start with customer communication."

Mobile banking: How to keep your personal information safe
"Are you a big fan of mobile banking…or maybe afraid of embracing the technology? Do you struggle with comparing the ease of banking over the phone to the threat of something happening to that info? Well, in either group, you'll want to know more about a recent experiment involving smart phones, and what happens when they are lost, then found by a stranger, and what you can do to protect yourself in case it happens to you!"

Nine tips to help prevent mobile banking fraud
"Though mobile banking is taking off across the country, some Canadians still have concerns about paying bills and transferring funds by phone. But with a few easy steps, you can take precautions to ensure that your banking information isn’t compromised:"

Guardian Analytics Launches Mobile Banking Security Software
"Guardian Analytics has rolled out fraud detection software for mobile banking services called FraudMAP Mobile. The software is meant to identify suspicious mobile banking activity across SMS, mobile Web and mobile applications. According to the company, it provides the anomaly detection capabilities expected by the FFIEC for all electronic banking channels."

Trusteer Mobile Secures Smartphones and Tablets Against Banking Fraud
"Trusteer, the leading provider of endpoint cybercrime prevention solutions, today announced a new version of the Trusteer Mobile service which prevents mobile and online banking fraud. Trusteer Mobile detects mobile malware infection and helps bank customers fix security vulnerabilities on their devices. End users can also turn off access to their online bank accounts from anywhere using their mobile devices and safely access the bank web site via a secure mobile browser. Financial institutions can authorize online banking transactions using Trusteer Mobile Out-of-band Authentication for Android and iOS devices."

Mobile Banking Updates - May 6

Citi exec: Intersection of mobile and engagement happens on tablets
"A Citi executive at Mobile Commerce Daily’s Mcommerce Summit: State of Mobile Commerce 2012 conference yesterday said that tablets are driving a much deeper level of engagement with customers than smartphones. During the “Citi: Beyond Mobile Banking: The New Role of Tablets” session, the executive said tablet users have longer session lengths than smartphone users. The exec also reported that Citi has seen thousands of customers sign up for online banking for the first time via the financial institution’s iPad application."

‘Mobile banking key for customer loyalty’
"The prediction in the World Retail Banking Report 2012 warned that innovation in mobile banking was currently being hampered by security concerns. The report claimed that mobile banking could help promote customer loyalty. It said: 'The industry as a whole needs to establish a presence in mobile simply to ensure it doesn’t lose market share to non-bank entities seeking to take advantage of mobile’s ubiquity and convenience to offer banking services.'"

NACHA Speakers Say Mobile Is Redefining Banking Relationships: Onsite Coverage
"Call what is occurring now “the digital transformation of financial services,” said Geoff Knapp, a presenter at NACHA’s PAYMENTS 2012 conference and a vice president at Fiserv. His point: mobile is about much more than a new channel. In many, profound ways it is remaking the consumer’s relationship with his/her financial institution."

Mobile banking to rescue under-banked communities
"The notion that mobile banking looms as a life-altering technology service is usually discussed in the context of the developing world. But the idea is relevant as well when it comes to under-banked communities right here in the United States."

Monetizing Mobile Banking Services: Global Banks Compete, but how Will They Succeed?
"Over the next 5 to 10 years, expect mobile banking to become as routine as using ATMs. This is the key finding from the latest Global Banking: Foresight & Insights video series from Ernst & Young and Knowledge@Wharton. The series explores how banks around the world can succeed in the mobile banking space by reducing the cost of service delivery while generating new revenue streams and better connecting with customers. As banks deploy this technology, they will need to be open-minded and willing to learn marketing and security lessons from trailblazing developing markets."

Mobile Banking Vendor Updates

Sybase 365 and Dutch Bangla-Bank recognised for “Best Mobile Banking Initiative” at Asian Banker Technology Awards
"Sybase 365, a subsidiary of Sybase, Inc., an SAP company and the global leader in mobile messaging and mobile commerce services, today announced that together with the Dutch-Bangla Bank Limited (DBBL), both companies were presented the “Best Mobile Banking Initiative Award” at The Asian Banker Technology Implementation Awards 2012."

KeyBank Launches New Mobile Banking Solution with mFoundry
"mFoundry, North America's largest mobile banking and payments provider, today announced KeyBank launched mFoundry's mobile banking technology, mBanking, to expand the bank's mobile banking offering. mFoundry's mobile banking solution is now used by nearly 10 million consumers across more than 675 financial institutions nationwide, including one-third of the top 50 banks in the United States. KeyBank is the latest financial institution to select mFoundry's mBanking solution to support its mobile banking requirements."

Ensenta and MShift Extend the Reach of Mobile Banking with Mobile Deposit
"Ensenta, the leader in self-service remote deposit capture and risk management, and MShift, the leading provider of mobile banking solutions for financial institutions, are seeing a strong uptake of MShift Mobile Banking Apps with their combined end-to-end Mobile Check Deposit service. Among the first financial institutions to go live with the Mobile Deposit service integrated into their MShift Mobile Banking Apps are EECU, State Department Federal Credit Union, Air Force Federal Credit Union, Unity One Credit Union and Nutmeg State Federal Credit Union."

Mobilearth Announces Mobile Banking Training App
"As Mobile Banking continues to gain traction at a staggering rate, we see an increasing need for additional tools that customers can use to access their information. Although Mobile Banking comes with a huge benefit in terms of convenience for members, there is a serious need for training resources to teach customers how to use Mobile Banking to the fullest extent."

International Mobile Banking - May 2

Banking app 'unlike others'
"TSB Bank customers now have access to a groundbreaking mobile banking application that will change the way some customers handle their finances. For the past 12 months, TSB's technology services department has been researching and developing a banking app unlike any other, TSB's technology services manager Marie Collins said."

O2 launches revolutionary mobile banking service
"Consumers will be soon able to transfer money to their bank account with just a text message. Mobile network O2 has launched a smartphone app which allows people to transfer up to £500 by simply sending a text. Dubbed the "wallet", the application will help consumers "digitise" their banking accounts and help to speed up debit and credit transactions. The company has also revealed that it intends to follow the example of Barclaycard and launch near-field communication (NFC) chips to allow people to make contactless transactions in high street stores."

The bank of SMS
"AFRICA is the continent where “mobile money”—monetary transactions on mobile phones—is by far the most advanced. According to a new survey of financial habits by the Gates Foundation, the World Bank and Gallup, in 20 countries more than 10% of adults said that they had used mobile money at some point in the previous 12 months; 15 of those countries were in Africa. For the most part, mobile phones are a substitute for traditional banks, enabling people who live miles from a branch or ATM to use financial services."

Hispanics Must Make Banking & Financial Planning Part of Their American Dream
"According to a recent Nielsen's report, The State of the Hispanic Consumer: The Hispanic Market Imperative, Latino buying power will have grown 50% between 2010 and 2015, reaching an incredible $1.5 trillion. To put this in perspective, the report notes that if U.S. Hispanics were a standalone country, their market buying power would be one of the top twenty economies in the world."

NBC set to mark anniversary with mobile banking in sight
"The National Bank of Commerce (NBC) is expected to celebrate its 45 years anniversary along with plans to launch its mobile banking system in September this year. Speaking to reporters at the NBC bank ABSA Capital Economic Forum organised by the banks for its corporate clients in Dar es Salaam on Wednesday to share a regional and global economic outlook, NBC Managing Director Lawrence Mafuru said that the bank will celebrate its 45 years anniversary since it was founded early in 1967."

Mobile Banking Updates - May 1

Mobile banking trends in 2012
"A recent study by Ericsson revealed 10 hot consumer trends for 2012. Although these are mainly general mobile trends, all of them do have a clear imprint in the financial services industry. In this post I sum up the Ericsson study and enhance their general trends with my interpretation for the financial services industry."

Anomaly detection solution for mobile banking
"Guardian Analytics announced FraudMAP Mobile, the company's latest fraud prevention innovation, purpose-built to identify suspicious mobile banking activity. The solution uses anomaly detection across the triple play of mobile banking- SMS, mobile Web and mobile applications - to provide a critical layer of security that protects financial institutions and their mobile banking users. It also provides the anomaly detection capabilities expected by the FFIEC for all electronic banking channels."

Is mobile phone only alternative for banking?
"Since first trials of WAP mobile banking from late 1990s, several players has forced banking to mobile phone. There has been a hype around this white wedding paradigma over 15 years. Why mobile wedding with mobile phone and online banking has been around? To me reasons are: * Mobile phone was first portable device, which was easy to carry * Mobile phone was affordable for consumers. * It has required data connection"