Mobile Banking Updates - Jun 28

Star One Credit Union Partners with Tyfone to Deliver Best in Class Mobile Banking
"Star One Credit Union, the ninth largest credit union in the U.S. with more than $6.0 billion in assets, today announced the availability of its Tyfone powered mobile services to its more than 89,000 members worldwide. Star One partnered with Tyfone to bring industry leading mobile banking services to its members, including Fiserv XP2 core integrated mobile banking, enhanced strong ID authentication mobile security and a seamless path to NFC contactless payment technology."

Personetics Crowned "Mobile Solution Provider of the Year"
"Personetics, a leading provider of consumer interactions technologies to the financial services marketplace, announced that it was selected as the 2012 Mobile Solution Provider of the Year at the 6th Annual Mobile Banking & Commerce Summit. This year, the summit attracted more than 600 senior-level financial services decision makers, solution providers and industry trendsetters for two days of intense networking and workshops. The Summit, presented by American Banker, BTN, Mobile Banker and PaymentsSource, focused on mobile banking usability and the customer experience."

BBVA Compass introduces enhanced iPad app at mobile banking summit
"BBVA Compass introduced version 2.0 of its iPad app Monday at American Banker's Mobile Banking and Commerce Summit in San Francisco. The free app, which will be available at the end of the month, follows in the footsteps of the bank's iPhone app, offering direct enrollment to mobile banking as well as first-to-market features such as free access to weekly economic updates from BBVA Research. It also allows users to pay bills and view check images, transaction receipts, account statements and charts, along with cash flow and pie charts of bill payments."

Intuit Launches Mobile Banking Purchase Rewards for iPhone and Android
"Intuit Financial Services’ new Mobile Purchase Rewards feature for mobile devices lets customers turn their smartphone into a savings tool. Armed with the new mobile banking feature offered by their bank or credit union, consumers can receive and activate customized merchant-funded discounts or rewards that are based on their personal buying habits. Customers then simply swipe their bank- or credit union-provided ATM/debit card to redeem and save money. No coupons. No fuss. The savings are then automatically deposited back in the customer’s checking account at the end of each month."

Clairmail Honored With Frost & Sullivan Customer Value Enhancement Award
"Clairmail, Inc., the leader in mobile banking and payment solutions, today announced it has received the prestigious 2012 Award for Customer Value Enhancement in the Mobile Banking and Payments Services industry from Frost & Sullivan. The award is earned by a company that demonstrates excellence in implementing strategies that proactively create value for Financial Institutions (FIs) with a focus on improving the return on the investment that FIs make in their services or products."

Jack Henry Banking Introduces iBizManager
"Jack Henry & Associates, Inc. JKHY -0.03% is a leading provider of technology solutions and payment processing services primarily for financial services organizations. Its Jack Henry Banking(TM) division announced today the availability of iBizManager(TM), the latest addition to its extensive offering of Internet and mobile banking solutions."

Depositing Checks Using Smartphones is Growing With Mountain America Credit Union's Mobile Deposit App
"Taking a picture of a check with your mobile phone and having it deposited into your account within seconds seems like it would require bleeding-edge technology only available to select national bank customers. But Mountain America Credit Union has been offering the service to its members for nearly a year, and its use has been growing. Though not yet offered by many local financial institutions, Mountain America introduced the mobile deposit feature of its mobile banking smartphone app in July 2011 and has since seen mobile check deposits increase more than 1,800 percent."

Mobile Banking Updats - Jun 27

Mobile Wallets: Big Opportunity, Big Hurdles
"What's the role of banks in the new mobile payments model? Sitting in front of a room full of bankers at the Mobile Banking and Commerce Summit in San Francisco, some of the biggest players in the burgeoning mobile wallet space wasted no time Tuesday tackling that question. The query itself suggested that banks still don't know enough about the power of mobile wallets and the potential benefits of partnering with their developers."

Tablets, Mobile Payments, Disruptors Among Hot Topics at Celent Banking Innovation & Insight Day
"Tablet banking, mobile payments and financial services disruptors were among the big topics discussed at analyst and research firm Celent's fifth annual Banking Insight & Innovation Day. The event, held in Charlotte, N.C., drew more than 100 bankers and financial services technology companies to go over the hot topics of the day. The overarching message? Change is coming to banking, and it's coming soon."

Mobile Banking Leads Survey as Next Shared Banking Service
"A majority of participating credit unions with the Credit Union Centers, a shared branching CUSO that serves primarily credit unions in Indiana and Illinois, listed having a mobile version of shared branching as a shared branch service they would most like to see developed."

Top Mobile Banking Security Tips
"Remember when mobile banking meant visiting your local branch? Today it means being able to make balance inquiries, deposits and account transfers with just a few taps on your smartphone. And that’s just the beginning. 'The scope of mobile banking has clearly expanded over the last 18 months,' said Sonia Lalli, a mobile banking analyst at Juniper Research, 'particularly because of the expanded and more intelligent capabilities offered by the smartphone, as well as a greater range of affordable non-iPhone devices.'”

Will Banking Apps Kill Debit Cards?
"Forget your debit card? Soon, withdrawals by smartphone may become routine, if they can overcome security issues that continue to plague mobile banking apps. The U.K. is making strides in mobile banking, with the Royal Bank of Scotland and NatWest developing mobile banking apps so customers can withdraw money from ATMs using their smartphones instead of debit cards."

Westfield Bank Leads the Way in Mobile Banking
"Westfield Bank (the “Bank”), a wholly owned subsidiary of Westfield Financial, Inc. (NasdaqGS:WFD), is enhancing its state-of-the-art services to customers with the release of new apps for the Apple iPhone®, iPad®, iPod touch® as well as smartphones using the Android operating system. The Bank is one of the first community banks in the western Massachusetts area to offer these high-end technology services. The Bank’s leadership is committed to keeping traditional banking services while also enabling on-the-go customers convenient access to their finances using smartphone mobile devices."

Mobile Banking Updates - Jun 26

Mobile Banking is Here to Stay
"If there was one overarching theme that came out of Bank Systems & Technology's Virtual Event "How Mobile Is Transforming Banking's Competitive Landscape" on Thursday it's that mobile is indeed the future. While mobile banking adoption sits in the 10-15 percent or so range -- and even less for tablet banking -- the numbers are increasing every day, as technology continues to rapidly advance. It's not a stretch to say that within five years, most bank customers with access their account via a mobile device. We've collected the top quotes from the BS&T event about all things mobile."

Targeting Underbanked Consumers With Mobile Banking Solutions
"Underbanked consumers — those without a checking account — rely on their mobile phones more so than other segments, making them a prime target for mobile banking services, mobile prepaid, and mobile P2P money transfer solutions. Mobile services and the underbanked are two of the hottest topics in the financial industry today, but few people weave the two issues together. But a new study from Javelin Strategy & Research suggests financial marketers might be missing a huge opportunity by tackling mobile and the underbanked separately."

Forrester/CBA Survey: Retail Banks Increasing Mobile Investment
"Responding to consumers' growing interest in banking from their mobile devices, retail banks plan to invest more money to enhance their mobile offerings, according to the first-ever survey of Consumer Bankers Association (CBA) members conducted by Forrester Research, Inc. FORR +2.15% in collaboration with CBA's Emerging Channels Committee. CBA members reported they will spend one-third of their total digital budget on the mobile channel this year. The joint research project surveyed digital executives at 19 leading US and Canadian banks. The findings -- summarized in a two-part report, "The State Of North American Retail Banking eBusiness 2012" -- enable eBusiness & Channel Strategy professionals in the banking industry to benchmark their priorities, goals, and metrics."

Consumers Seek Specialty Branches and Stewards of Their Digital Footprints
"Mobile banking may get all the attention, but among virtual banking channels, it's online banking that really resonates. And bricks-and-mortar branches still have plenty of room to run. So concludes a survey released Wednesday in which Cisco asked 5,300 consumers in eight countries how they would like to bank."

Seven Notes on Mobile Payments and Mobile Banking
"1) Eleven percent of consumers made a mobile payment in 2011. 2) Demographics say that the future of banking is mobile. People aged 18 to 29 are three and one-half times more likely to use mobile banking as compared to people aged between 45 and 59. Latinos and African-Americans are both more than one and one-half times more likely that non-Hispanic whites to use mobile banking."

Credit unions keeping pace with mobile banking trends
"A rise in mobile banking is prompting area credit unions to revamp some products and offer new services to meet consumer needs. A recent study issued by the Federal Reserve, titled Consumers and Mobile Financial Services and dated March 2012, states that nearly one out of every five Americans with a bank account and mobile phone has used their phone to check account balances and conduct banking."

International Mobile Banking Updates - Jun 25

HTC to unveil mobile banking phone in Taiwan
"Taiwan's HTC Corp. will announce a partnership in mobile payments with a local bank and card companies this week as it seeks to play a larger role in the promising mobile banking industry. The world's No. 5 smartphone vendor is scheduled to hold a joint news conference on June 19 with Cathay United Bank, EasyCard Corp. and MasterCard International to launch a co-branded card, according to a statement."

Mobile money transfers: Zim drifts towards cashless economy
"ZIMBABWE’s financial transacting public has been presented with a plethora of money transfer options, as the country moves towards a cashless economy. Mobile money products on the market include; Kingdom CellCard, ZB Bank’s e-Wallet and e-Mali, Econet’s EcoCash product, as well as CABS’ TextaCash. FBC has joined the bandwagon with Mobile Moola, a new Automated Teller Machine (ATM) card from which one can send money to anyone with a mobile phone on any network."

Absa attracts 120,000 mobile customers each month
"Absa says it attracts an average of 120,000 new mobile customers each month and boasts in excess of 3.6 million mobile banking clients and 1.35 million online customers. According to Christo Vrey, head of Absa Digital Banking, the group attracted 180,000 new mobile users in March. Absa will not provide a date for the launch of its banking application; however, the group’s new multi-million online platform has been optimised for tablet use."

ASB customers embrace mobile apps
"ASB Bank chief executive Barbara Chapman says consumers are switching on to mobile banking at four times the rate of internet banking when it first took off. However, banks were getting faster at being able to copy each other's technological innovations so any competitive advantages they gained would be more short-lived. 'When we introduced internet banking, I think we had a two- or three-year advantage on every other competitor. There is no way you would expect a two- or three-year advantage on any technology now' she said."

Sybase 365 Enables Allied Bank Limited to Accelerate Adoption of Mobile Banking in Pakistan
"Sybase 365, a subsidiary of Sybase, Inc., the global leader in mobile messaging and mobile commerce services, together with AbacusConsulting, one of Pakistan's largest professional services firms, today announced that Allied Bank Limited, one of Pakistan's largest banks, has chosen the Sybase 365 Mobile Commerce solution to offer mobile financial services to its customers."

St. George releases pay-to-mobile app
"St. George has launched a pay-to-mobile app which will allow users to send payments on their smartphones. To make a payment, users need to put in the recipient’s mobile number and hit ‘transfer’. The app then notifies the recipient money has been transferred and they are directed to a secure website where they put in their BSB and account details."

Ethiopia to Regulate Mobile Banking
"The National Bank of Ethiopia is to issue a new directive for mobile banking directives. The central bank regulation officials and presidents of banks had final discussions on the draft regulation last week. The bank circulated the draft regulation to all banks for comments and expects it to come into effect in three weeks time according to sources. The regulation will control the way in which mobile banking is implemented, identifying and protecting users and how much money can be transacted.

UN Calls For Mobile Banking Rules
"The United Nations on Thursday called for rules to coordinate the use of mobile money services in East Africa."

With mobile banking growing rapidly, banks too need to step up their security features
"Mobile banking may still be in its infancy but it is growing at a phenomenal pace, according to Mr Trevor Haeger, Chief Information Officer for Standard Chartered Bank, Singapore. For Standard Chartered Bank, Singapore, the growth rate of active users utilising its Internet banking services was 33 per cent between 2010 and 2012. The growth rate of active users for its mobile banking services was a whopping 92 per cent from 2010 to 2012."

Brazilian Bank Federation sees boom in mobile banking market
"Making financial transactions with mobile devices is not considered new in Brazil. However, the service is far from being heavily used. During this week’s Ciab (check all stories) —a conference and exposition focused on IT for financial institutions held in São Paulo—banks and vendors are trying to show how the connected society (also a central theme of the event) is changing the way banks do business."

Banks to offer mobile banking service by mid-2013
"All banks are expected to participate in mobile banking service by the middle of next year, says e-payment service provider, Malaysian Electronic Clearing Corp Sdn Bhd (MyClear). 'Our objective is to get the entire industry to participate to encourage usage of e-payment gradually,' said MyClear managing director, Mohd Suhail Amar Suresh."

RBS adds ATM cash dispensing to mobile banking app
"Customers are presented with a 'GetCash' option within the RBS and Natwest iOS, Android and BlackBerry apps that lets them request up to £100. A six digit PIN is then generated which can be entered at the banks' ATMs at any point within the next three hours to collect the money. Customers can make as many requests as they want in a day as long as they do not exceed their withdrawal limit."

Mobile Banking Updates - Jun 24

Bank of America fights to keep top spot in mobile banking
"Bank of America Corp.’s Aditya Bhasin has 10 million reasons to celebrate the Charlotte-based company’s leading position in mobile banking. But industry analysts say the online- and mobile-banking exec also has a growing number of reasons to watch his back. That’s because an arms race is under way in mobile banking."

Mobile Banking Spend on the Rise
"Retail banks are planning to invest heavily in mobile due to increasing customer demand, according to a new report from Cambridge, Mass.-based Forrester Research. Forrester surveyed members of the Consumer Bankers Association (CBA), who reported that they will spend one-third of their total digital budget on the mobile channel this year. The joint research project with the CBA's emerging channels committee surveyed digital executives at 19 leading U.S. and Canadian banks. The findings were summarized in a two-part report, "The State Of North American Retail Banking eBusiness 2012."

Small Business and Mobile Banking: A Growing Imperative?
"Aite Group said its research finds that increasing their business with small businesses is critical to their overall success, in the opinion of 80% of American banks. Reaching a lot of them also will require including mobile banking as offerings to small and medium enterprises, the Boston-based think firm said in a new report. While not yet the preferred banking channel, Aite Group said, its research shows that currently 33% of small businesses currently bank with a mobile device. Another 31% express an interest in doing so, the research and advisory firm said, and 54% will by 2015."

Citi Adds Trade Services to Corporate Mobile Banking
"Trade Advisor is an online banking tool that lets companies conduct crossborder trade transactions, including updates on letters of credit, trade finance loans and documentary collection for import and export. CitiDirect BE Mobile, launched in August as part of Citi's Global Transaction Services, lets corporate treasurers receive alerts and authorize payments pending approvals, release payments for straight-through processing, and check balances and payment statuses, among other things."

Banks layer up on security to protect customers
"What are the odds that the head of a company that tracks financial fraud would have his own bank account breached? James Van Dyke, president of Javelin, certainly found it ironic when Wells Fargo alerted him to a fraudulent transaction six months ago. He was also glad he had signed up for a service that notifies him every time there’s a credit card transaction that occurs in his California business’s name."

Should you fear mobile banking on your cell phone?
"Do you like the ease of banking over the phone? Or do you fear something happening to your personal information? ABC 4 got the results of a recent experiment involving smart phones, and what happens when they are lost, then found by a stranger. But what can you do to protect yourself if you loose your phone? It’s happened to April Tucker a lot."

Mobile Banking Updates - Jun 21

Mobile, Tablet, Industry Disruptors Among Topics to be Featured at Celent Banking Insight & Innovation Day
"The future of mobile and tablet banking, and disruptors in the financial services space will be among the major topics discussed at Celent's Banking Insight & Innovation Day next week in Charlotte, N.C. This will be the fifth year the Boston-based analyst form will host the event, which will feature Celent analysts as well as representatives from more than 30 banks. Celent will also be issuingits "Model Bank" awards at the event."

PSECU Rolls Out Kindle, Large-Screen Android Banking Apps
"The $4 billion Pennsylvania State Employees Credit Union is now offering its 388,000 members two new mobile banking applications. One is a Kindle Fire app available on the Amazon Appstore and the other is for large-screen Android tablets and is available on Google Play, PSECU said. Both were developed for the Harrisburg, Pa., credit union by Vertifi Software LLC of Burlington, Mass."

5 Ways Banking is Changing Fast
"When bank ATMs first started appearing in the U.S. some 40 years ago, they were hard to miss. Recent innovations have been much more stealthy — but just as groundbreaking. In case you’ve missed them, here are five contemporary, cutting-edge technologies that are quickly changing banking:"

Plastyc to Address Mobile Banking for the Unbanked at Clinton Global Initiative
"Plastyc CEO Patrice Peyret will share examples of innovative services and products for the unbanked at the second annual Clinton Global Initiative America (CGI America) in Chicago June 7th and 8th. As participant in the CGI Financial Inclusion: Building a Path to Financial Security working group, Peyret will discuss leveraging mobile technology to reach traditionally underbanked consumers and using advanced features and analytics to help support financial responsibility."

RBS Citizens Treasury Solutions Experts to Speak On Mobile Banking, Payments Fraud, and Data Connectivity at Windy City Treasury Conference
"Mobile banking, fraud prevention, and the challenges of data connectivity will be the topics of presentations by experts from RBS Citizens' Treasury Solutions group this week at the Windy City Summit. Hosted by the Treasury Management Association of Chicago, the conference is the premier gathering for corporate treasury and finance professionals in the region."

Now Live -- Heartland Bank iPad App and Mobile Browser
"G. Scott McComb, President and CEO of Heartland Bank is pleased to announce an additional service to Heartland Bank's Online Banking. McComb stated, 'In 2011, Heartland launched both its Mobile Banking iPhone and Android App. Today, we are proud to introduce another Heartland Online Banking Solution - the iPad App.'"

ACI Worldwide Shares New Product Plans With Market
"ACI Worldwide ACIW +2.12% , a leading international provider of payment systems, today released details of its product roadmaps to the market, and described how the combination of ACI and S1 adds innovation, new product capabilities and resources around the globe to support the needs of its customers. The roadmaps were released to a gathering of customers at the company's annual ACI Exchange conference in Miami. The event marks the first collaborative exchange of the combined customer bases, and will be followed by ACI Exchange conferences in Monaco, June 12-15, and in Bangkok in November."

Mobile Banking Security - Jun 19

Mobile Banking: Predicting the Risks
"Mobile security threats can be managed through testing and strategic risk-mitigation strategies, says Keith Gordon, who oversees authentication and security strategies for Bank of America's consumer online and mobile banking units. A mobile banking pioneer, Bank of America has come up with some innovative ways to anticipate mobile threats. This top-tier bank has seen its mobile-user base explode, increasing by nearly 3 million users in the last 12 months. It now has more than 10 million mobile users."

60% of Americans who don't use mobile banking 'think their mobile isn't secure'
"Mobile banking is very popular in America. Research by Infosys indicates that 94% of Americans use some kind of banking app on a mobile device. However, just about half of them think mobile banking has security problems, according to simplysecurity.com. Sandra Braunstein, the director of the Division of Consumer Community Affairs spoke before the Committee on Banking, Housing, and Urban Affairs - and noted that a high number of Americans who aren't embracing mobile banking technology are choosing not to because of perceived security risks."

5 Top Malware Threats to Online and Mobile Banking
"Hundreds of millions of dollars have been stolen by cyber-criminals from bank and credit union accounts. That is the reality and what it means to credit union executives is that the need for vigilance around online and mobile banking is severe. But then there are the flat-out empty scares that so often percolate in this field. Last week for instance security experts were aflutter over a threat named Flame which, in initial reports, was said to be Stuxnet doubled down. That would be very, very bad indeed because Stuxnet may have the capabilities to cripple nation states. But then on second look, the experts seemed to dismiss Flame as more hype than danger. Which is it? Too early to say."

Mobile Users Want More Security Control
"Consumers are ready to assume more responsibility for the security of their mobile devices, especially when it comes to mobile banking. According to research conducted by Javelin Strategy & Research, consumers want to have the ability to act and respond when they suspect they've been hit by a mobile attack that results in fraud. So what's holding them back? Jim Van Dyke, Javelin's president and founder, says banking institutions are the problem. They've been reluctant to release too much control, he says in an interview with BankInfoSecurity's Tracy Kitten (transcript below)."

Gemalto Discusses Fraud Mitigation at Annual FUNDtech Insights Conference
"Gemalto, the world leader in digital security, will speak and exhibit this week at the FUNDtech Insights Conference 2012 presented by FUNDtech and BankServe. The conference hosts two days of educational sessions, product demonstrations and expert presentations on the financial services industry."

International Mobile Banking Updates - Jun 17

Mobirl on massive mobile awareness campaign
"With the telecommunication companies ramping up their services to ensure that our mobile devices stay connected, the private sector in Trinidad and Tobago is gradually introducing mobile applications and services to communicate with its customers and more importantly increase operational excellence for the business. Only two of our banks have mobile offerings today—First Citizens Bank and Scotiabank. First Citizens Bank’s mobile banking services allows its customers to access banking information on the go. This service is not only for customers with smartphones but extends to all cellphone owners. Account information is sent via text messages alerting customers of changes to their bank accounts including deposits such as salaries."

The Future of Mobile Banking
"Organised by Marketforce and the Institute of Economic Affairs, London has hosted on May 29 the second annual conference addressing the future of mobile banking. Opening the first session was Aman Narain (Global Head of internet and mobile banking, Standard Charted) who shared that they first began by establishing ‘war rooms’ with a sign reading 'World’s best internet bank.'”

Mobile Banking Helps Africa Advance
"The economic growth rate across sub-Saharan Africa has remained at more than five percent in recent years despite the ongoing global recession. Myriad macroeconomic explanations help explain this progress, but one intriguing element that is both underappreciated and undervalued involves a widget that fits in your pocket: the cell phone. The ability of cheap, easy-to-use cellular technology to connect poverty-stricken populations to the benefits of globalization generally, and banking more specifically, has yielded unprecedented new economic opportunities across the Global South."

ASB named 'New Zealand's best online bank'
"ASB has been honoured as New Zealand's best online bank by independent researcher CANSTAR in its first ever review of the nation's online banking market. ASB was confirmed as the clear winner among New Zealand financial institutions based on a comprehensive review of the bank's internet banking, website and mobile services."

Bangalore-Based Bank Chooses IBM Cloud for Core Banking Solutions
"IBM IBM +0.36% today announced that Sree Charan Souharda Cooperative Bank has selected IBM SmartCloud to help it meet growing demand, add new customer services and to centralize mission-critical operations such as real-time transaction processing across its five branches in Bangalore."

The Hard Sell: NatWest Mobile Banking
"Poor Sarah (well, she was Sarah when she lived in Godalming, but after her gap year she renamed herself Skye; it's just so much more her). She has had to call her dad for money to pay an angry hotel owner after she carelessly dropped an envelope full of Euros in a Moroccan souk while buying a scarf. Well, she was thinking about buying a scarf. But then,–"

Mobile Banking Updates - Jun 15

Tyfone Inks Mobile Banking Pact With Giant SSFCU
"The wait is over. After a year of deliberation, and sorting through myriad ways to take its 875,000 members mobile, San Antonio-based Security Service Federal Credit Union has announced its selection of Portland, Ore.-based Tyfone as its mobile banking provider. A top 10 credit union – with more than $6 billion in assets – SSFCU had not provided its members with mobile banking but knew this was high on the list of what members wanted in additional services."

CSI Launches PFM Solution for Internet Banking
"Computer Services, Inc. (CSI) (otcqx:CSVI), a provider of end-to-end technology solutions that empower financial institutions to remain competitive, compliant and profitable, released its new Personal Financial Management (PFM) service for its Internet banking customers. The PFM service delivers consumers a one-stop online location to manage all of their personal finances and accounts within their bank's Internet banking application."

mFoundry Launches Mobile Banking Solution for Eli Lilly Federal Credit Union
"mFoundry, North America's largest mobile banking and payments provider, today announced Eli Lilly Federal Credit Union (ELFCU) has launched ELFCUmobile, a full-featured mobile banking solution that includes native mobile applications, mobile Web and SMS/text banking."

Clairmail Awarded 2012 Best Mobile Application or Service
"Clairmail, Inc., the leader in mobile banking and payments solutions, today announced it was named the Best Mobile Application or Service in the 2012 San Francisco Business Times Tech and Innovation Awards. The Tech and Innovation Award winners were chosen across 15 categories for solving challenging problems, all while growing companies and creating jobs in the Bay Area."

Mobile Wallet and Payments - Jun 13

Smartphones get new duty — as wallets
"Picture walking up to the Dillard’s counter, two shirts in one hand, smartphone in the other. Phillip Vullo ATT Mobility Chief Executive Officer Ralph de la Vega said, 'We’re getting into a completely new line of business that we’re very excited about.' There’s no need to reach for your wallet, because all of the credit card information has been stored in your phone. One tap of the phone against a small mobile reader next to the cash register, and you’re out the door. Welcome to the new, more intelligent world of smartphones that can double as wallets."

If PayPal Offered a Mobile Wallet, 8 in 10 Consumers Would Use It
"Consumers who are interested in mobile wallets* would consider using alternative players to their primary bank for mobile wallets and for banking. These consumers also expressed strong interest in using a wide variety of services in their mobile wallet, such as search & shop, loyalty programs and real-time incentives. These are two major findings from a mobile wallet study conducted by Carlisle & Gallagher Consulting Group (CG, www.carlisleandgallagher.com ), a management and technology consulting firm serving the financial services industry."

Big Banks Fear Losing Consumers to Mobile Wallets
"There’s more bad news for the beleaguered banking industry, and it has nothing to do with regulatory scrutiny or shareholder displeasure: Consumers who are interested in mobile wallets would consider using alternative players to their primary bank for both mobile wallets and banking. Mobile wallets are smartphones or tablet apps that store a consumer’s payment details on his or her devices or online to fund digital and in-store purchases."

Mobile Banking Updates - Jun 10

2012 in Mobile Banking
"The year is half over, and already banks and payment companies have made big advances in their use of mobile devices."

Online and Mobile Banking are Gaining Adoption
"ComScore, Inc, a company that measures the digital world, recently released its annual State of Online and Mobile Banking report for 2011. This report provides key online and mobile banking trends in the U.S. in 2011. More than 2,000 U.S. Internet users were surveyed and the research was supplemented by other data from a behavioral panel of over one million U.S. Internet users. There was an upward trend in customer satisfaction with financial institutions and their banking websites early in 2011, compared to a decline in previous years. Online banking increased and mobile banking gained adoption, especially in app usage."

Mainstreet, Sterling, others partner Glo on Mobile Banking
"Mainstreet Bank Limited and five other banks have sealed up a partnership with Glo to lend greater depth to the on-going campaign for a cashless society through the provision of seamless mobile banking services to their customers. The six banks banded with telecoms giants, Glo, to roll out the Quick Teller Mobile Banking product (QTM) last Thursday, at the corporate head office of Glo in Victoria Island, Lagos."

US Bank extends mobile strategy
"In its latest move to leverage mobile to enable customers to access and manage their finances whenever and wherever they choose, US Bank has released a new mobile banking application designed specifically for iPad users, reports Mobile Commerce Daily. The US Bank app for iPad comes with all of the mobile banking features found in the bank's smartphone apps. However, the experience has been optimised for the tablet's larger screen and offers a more interactive user experience."

Breaking the Mobile Banking Glass Ceiling
"Financial institutions recognize the benefits the mobile channel offers – a lower cost to serve, increased customer satisfaction, retention and a higher return on investment – but for many, breaking through the mobile banking adoption glass ceiling has been challenging. This paper discusses how financial institutions can move beyond the initial wave of early adopters and reach more customers by promoting mainstream consumer acceptance of mobile banking. It also highlights the five key success factors financial institutions need to address in order to accelerate mobile banking adoption."

KPMG Survey: Banking Execs Focused on Increasing Operational Efficiency as Regulatory Reform Continues to Hamper Growth
"Platform simplification (IT infrastructure, applications) was identified by 58 percent of the banking executives as the most important IT-related project for their bank in the next year, followed by mobile payments (39 percent), leveraging data more effectively for regulatory requirements (38 percent), and creating an integrated view of customer accounts (37 percent). When asked to identify the channels commanding the most capital investment from their bank, KPMG survey respondents cited investing in mobile banking / payment platforms for mobile devices (38 percent), purchasing more branches (24 percent), and investing in online banking platforms for laptops / desktops (23 percent)."

Mobile Banking Updates - Jun 8

With Mobile, Integration is Everything: Q&A With KeyBank's Dean Ilijasic
"In the scramble to meet customer demand for mobile banking, deploying a mobile channel can easily become a siloed exercise. Not so for Cleveland-based KeyBank ($86 billion in total assets), where emphasis on the tight integration of all channels also drives mobile development. Bank Systems & Technology contributor Anne Rawland Gabriel spoke recently with Dean Ilijasic, senior vice president and director of consumer and small business innovation at Key, about the significance of mobile to the bank's multi-channel strategy and where it plans to go from here."

Capital One Deals Beamed Direct To Your Phone
"Capital One remains one of the most popular card issuers within Outlaw's credit card offers portal. Compare our favorite new credit cards from the bank this month, and apply online, right here. Aside from their customer service, I like the bank's willingness to jump on new technologies and trends before some of the more conservative, slow-moving banks do so. Their new mobile banking & deals app is a prime example of this..."

Upwardly Mobile
"When Tracey Weber first came to our office to shoot a video, a year ago, she proudly showed off the new iPad app her team had just finished developing. She was obviously getting things done despite the classic challenges of working in a large, matrixed organization. She brought along Andres Wolberg-Stok, a smart and articulate colleague who has also shown thought leadership in the industry - every mobile banker of the year needs a strong team behind her. Under Weber's watch, along with being one of the first banks to introduce an iPad app, Citi is among the first to have a Kindle app; it was also the first bank to team up with Google on its mobile wallet, which still has the potential to be a leading mobile payment solution."

Online Banking vs. Mobile Banking
"While PC-based online banking is not much older than a high school student, mobile banking is still in elementary school. With the proliferation of smartphones, however, online banking's younger sibling is quickly catching up to the slightly more established option. Banking through your PC's web browser offers a full menu of services. You can easily and conveniently schedule payments, transfer funds, add new payees, open new accounts, apply for loans, view current and past statements, and access information about specific checks that have been deposited. A PC or Mac allows you to view an extensive array of details and options, giving you full control of your accounts."

MoneyDesktop Signs Seventeen More Credit Unions and will Enhance Member Online Banking with PFM
"Credit unions nationwide are implementing PFM at an increasingly rapid pace as they recognize its critical role in online and mobile banking. Seventeen more credit unions are adding PFM to online banking and all have selected the platform provided by MoneyDesktop, a leader in PFM and an innovator that is redefining the way that people interact with their finances and with financial institutions. Today's announcement is another signal that account aggregation and PFM are must-have components to online and mobile banking."

Monetizing Mobile Check Deposit
"Winston-Salem, N.C.-based BB&T Corp. may be a super-regional, but the bank's acquisitive yet conservative deal-making has garnered it national notice in industry and analyst circles. BB&T has in the last 10 years more than doubled its assets to $174.8 billion, making it one of the largest regionals in the world and the 13th largest bank in the U.S. Taking over the deposits and branches of failed Colonial BancGroup in 2009 from FDIC enabled BB&T to crack the U.S. top 10 in rankings of deposits; the bank has $124.2 billion currently. It also boosted BB&T's presence in Alabama, Georgia and Florida, while giving the institution a foothold in Texas."

International Mobile Banking Updates - Jun 7

Confidence in security of mobile banking
"There's confidence security checks have to be passed through before money can move around through mobile banking. A number of New Zealand banks have launched a phone app, some of which don't require a login every time they're used. Massey University senior banking lecturer Dr Claire Matthews says while that might be the case, the apps vary in what information they provide."

EIB launches banking iPhone app
"Emirates Islamic Bank (EIB), a leading Islamic financial institution, has launched its mobile banking via iPhone, allowing users to access online banking from their smartphone. The new Arabic-enabled application is a first-of-its-kind offering from an Islamic bank in the UAE. To activate the service, the Emirates Islamic Bank application can be downloaded from the Apple App Store."

The kids are all right... with mobile banking
"New research suggests that students are the demographic most excited about using their smartphones for banking or other financial services. Research by YouGov suggests that students, that is those in full time education over the age of 18, are more likely to use their smartphones to manage their finances than any other group in Britain. YouGov's research was sponsored by UK digital banking provider, Intelligent Environments, and found that 53% of students who own a smartphone would manage their bank accounts via their mobile device if they could, compared to 44% of people in the full time workplace."

Just digital banking for me please: 66.7% expats in Canada do their banking online
"There are a number of areas around the world which attract more than their fair share of expats and Canada is certainly one of them. It seems to be a mixture of a very strong economy, a very attractive lifestyle and a country which is still in the developing stage. As a consequence it seems fair to assume that Canada will become more and more popular amongst expats and a growing variety of banking services will be required."

Good response to BoV’s mobile banking
"Bank of Valletta said yesterday that just two months after launching BOV Mobile, subscriptions for this new service have already surpassed the 8,500 mark. BOV Mobile Banking and BOV Mobile Pay are platforms using the latest technology and security features to give customers the ability to effect banking transactions, anytime, anywhere through their smart phones and to enable real-time person-to-person fund transfers. The former offers the convenience of most of the functions of internet banking via one’s own Apple iPhoneTM and AndroidTM smart phone. The latter allows the user to immediately transfer money to any registered BoV account-holder."

Businesses continue to embrace mobile banking
"Business banking customers are increasingly keen to access their accounts via mobile devices. Online banking has taken off rapidly in recent years and it seems that companies are embracing the concept just as much as Aussies on the street. Westpac bosses recently confirmed that it now has more than one million mobile banking customers – consisting of personal and business clients."

Mobile Payments - Jun 6

BATTLE OF THE GIANTS Tech-industry power struggle could impact mobile pay development
"A little-publicized but highly intense battle among the top technology companies could affect the continuing development of mobile banking and mobile payments, according to Accenture research. Its recent report, Competing in a High-Tech Industry ‘Superstack,’ claims that mobility, cloud computing, and consumer electronics companies are being heavily impacted by a new business model it dubs 'superstacks.'”

Do mobile-based payment options really benefit you?
"You must have watched the mobile money commercials on TV channels. These advertisements tell you that you can transfer money to your loved ones, make bill payments and even shop using your mobile phone. The noise is going to get louder in the coming days as many banks and telecom companies are betting big on mobile-based payment options."

Guides on Contactless Cards And Mobile Banking
"With the growing use of contactless cards and mobile phones, the Banking Ombudsman is receiving enquiries about the security of these forms of banking. Banking Ombudsman Deborah Battell today issued new guides on using contactless cards and mobile banking to help customers avoid problems. 'Contactless cards will gradually become the norm and smartphone use is increasing rapidly,' Ms Battell says."

Mobile Banking Security - Jun 5

Mobile Banking: Trends, Threats and Fraud Prevention Techniques
"As financial institutions expand their mobile banking services, fraudsters certainly will be close behind. This webinar will cover the expanding use of mobile banking and the fraud threats that are lurking, including:
* The explosive growth of smartphone ownership and the resulting demand for improved mobile services
* Trends in mobile banking services, and the inherent risks associated with smartphone usage
* The threats that lurk as fraudsters escalate attacks against the mobile channel
* Fraud detection and prevention techniques based on each user's unique mobile banking behavior"

Top 4 Malware-Related Issues for 2012
"For the past five years, security experts at ThreatMetrix, a provider of online security, device identification and malware detection, have been keeping watchful eyes on malware. Based on attacks they've seen hit more than 700 corporate customers from various parts of the globe, ThreatMetrix' team has come up with a list of chief malware-related issues for the year ahead."

CONSUMERS LOVE MOBILE BANKING BUT HATE LACK OF SECURITY
"One in three Americans have a smartphone and more than three quarters of them regularly use it to surf the web or read their email according to a Pew study. There's no doubt that the proliferation of cell phones and smartphone technology is increasing, along with other mobile devices like e-readers and tablet computers, and users want technology to work seamlessly with their hardware. However, mobile device management can get complicated when applications have to be designed with multiple operating systems in mind, and concern is emerging about data protection and internet security on these devices, especially when it comes to banking."

Mobile Banking: Are you Secure?
"Do you remember the days when you could only make an account deposit or withdrawal by visiting the local branch of your financial institution? For some of us, those days are a distant memory given the increase in options to complete financial transactions. With the rise in individuals owning smartphones, tablets, and data plan cell phones, mobile banking is becoming increasingly popular. But, is mobile banking safe and secure?"

Mobile Banking Updates - Jun 3

The Untapped Market: Corporate Mobile Banking
"Banks have been so focused on building the mobile retail solutions for consumers that they could be missing out on a huge opportunity in commercial mobile banking. As with most trends of new innovations and technologies it starts with the consumer, but it’s only a matter of time until mobile transcends into the corporate treasuries of both SMEs and large enterprises. In fact, a report by Aite Group, found there is a high demand for corporate mobile banking services amongst treasures. Of the 300 treasury executives who were polled globally, approximately two-thirds said they’d use mobile corporate banking services to perform basic transactions such as checking balances or transferring funds."

San Antonio Credit Union Takes on USAA's Mobility
"After a slow start, San Antonio Federal Credit Union is getting mobile fast. The credit union is moving from very little mobile banking to a broad suite of applications that operate on practically every device, including most features that other financial institutions are offering on mobile devices. The pace demonstrates the impact early adopters can have in pushing other institutions to move quickly to catch up or lose sales. The San Antonio-based credit union is located near USAA, a famously tech-friendly financial services provider. Like USAA, SACU serves a large military customer base, though it also serves a substantial non-military segment."

Pioneer Bank launches Kasasa 360 and Mobile Banking
"Pioneer Bank recently announced the launch of Kasasa 360 and Mobile Banking, the bank’s latest innovations available from the southern Minnesota community bank. Kasasa 360 provides account holders around-the-clock access to personal finance management (PFM) tools through an online and mobile-based platform. Designed to deliver a user experience that leapfrogs even the best megabank systems, the latest Kasasa innovation allows consumers to securely aggregate and manage all of their financial products, including those they hold at other financial institutions."

Just Because Banking Customers Are ‘Satisfied’ Doesn’t Mean They Won’t Switch
"The 2012 World Retail Banking Report survey from Capgemini and Efma found that 65% of banking consumers say they are satisfied, but only 51% say they have no plans to switch. The survey included more than 18,000 customers in 35 countries across six geographic regions, making it one of the most detailed studies of its kind. Online surveys polled samples of at least 500 retail-banking customers in every country covered."

Big Banks Arm Themselves (and You) for Looming Mobile War
"The rough and tumble economy isn’t keeping Americans from buying smart phones, or using them to revolutionize the way they handle their personal finances. That's leading the biggest U.S. banks to move quickly in developing a suite of mobile account services, from person-to-person smart phone payment to account deposit via an image text message of a check, all in anticipation of a day when customers will come to expect banking by smart phone as opposed to view it as a novelty."

What's the Future of Mobile Banking?
"On Tuesday I chaired the Future of Mobile Banking conference held in London. It was a great event, with a wide variety of highly qualified speakers and some very smart debate on topics including mobile banking, usability, innovation, and m-payments. What made the conference so compelling was that it came at a particularly interesting time."