International Mobile Banking Updates - Jul 25

South Africa: FNB Takes Banking to Facebook 
"South Africa's First National Bank announced on Thursday that its mobile banking customers will now be able to do their banking through social networking site Facebook. It is a first for South Africa, allowing the bank's customers to link their Facebook profiles to their cellphone banking profiles. Once linked, they can access the 'FNB Banking on Facebook' application, which will allow them to check their balances, purchase prepaid products including airtime, SMS and BlackBerry bundles, as well as the option to view Lotto and PowerBall results."

Digicel to expand mobile banking to Caribbean
"Already the fastest growing telecommunications major in the Caribbean, Digicel has recently entered into a financing deal that could see it well positioned to expand mobile banking technology across this region. In an announcement released by the Silicon Valley based M-Via, a mobile banking firm which touts itself as the company that revolutionised how immigrant and unbanked families save and share their wealth, the Digicel Group was identified as the leader of a US$17 million financing round initiated by M-Via."

Banks boost mobile banking
"Agreements signed between telecoms companies and banks look set to shore up a nationwide campaign to boost mobile banking services in the country. While the cash-less initiative poses challenges, such as a lack of infrastructure and connectivity problems in rural areas, industry players are optimistic that mobile money will go a long way in bridging the divide between the banked and unbanked segments of the population."

Rackspace UK Banking Study: Progressive Mobile Computing Strategy Is Key Competitiveness Differentiator
"Investment in mobile computing capabilities by UK banks and financial institutions has become a significant determinant of competitive advantage, according to research revealed today by Rackspace Hosting RAX -2.77% , the service leader in cloud computing. Providing customers with mobile apps is now viewed as being crucial to having a competitive advantage by 63 per cent of financial services organisations."