Mobile Banking International Updates

Mobility facilitates MEA distribution of banking services says IDC
"While financial institutions seek to develop alternative channels as a means to drive business efficiency and a better customer experience, an increase in consumer mobility has presented an attractive opportunity. According to a recent study by market research and consulting company IDC, the current penetration rate of banking services in the Middle East and Africa (MEA) is estimated at less than 35 per cent."

Standard Bank quietly releases mobile banking app
"A year after FNB shook up the banking market with their first mobile banking app, Standard Bank has quietly released its own version. LIRON SEGEV assesses the new app. A full 12 month after a mobile banking app was launched by First National Bank, Standard Bank has finally launched its own mobile app. Welcome to the party. There is no indication of why the app was launched so quietly, as it is available across three of the popular South Africa device platforms, namely:"

Lloyds TSB Launches Its 2012 Student Account
"Lloyds TSB today announces the launch of its 2012 Student Current Account. Available to new and existing customers from 5th July 2012, the account includes a number of benefits, including the ability to help students track of their spending and take more control of their money. The account includes:"

BOV now offering a mobile SMS notifications service
"Bank of Valletta is intensifying its efforts to deliver new services to its customers through a mobile platform following the successful launch of the first mobile banking and payments service in Malta earlier this year. With immediate effect, the Bank’s network of Automated Teller Machines (ATMs) has been upgraded to enable BOV customers to enter or confirm their mobile telephone number."

‘Stress is an essential ingredient for growth,’ says mobile money pioneer
"Prior to chatting with Hannes van Rensburg – founder and CEO of Fundamo, a mobile financial services platform provider – I had expected a man who would be eager to impart his business wisdom and tell us exactly how it’s done. I had expected a person who would revel in his achievements. But Van Rensburg is a humble man who I felt didn’t enjoy boasting of his success. In fact he said that Fundamo – a mobile payments company he sold to Visa for US$110 million – 'just happened'."

UK adults distrust mobile banking
"Nearly three-quarters of adults in the U.K. consider mobile banking to be unsafe, said a survey by Wincor-Nixdorf. The study, reported in the U.K.'s SC Magazine, included 2,031 British adults. 'When you look at some technology such as the ATM, this has become a retail banking mainstay,' Ed Brindley, director of marketing at Wincor Nixdorf, said. 'Consumers feel comfortable using it and see that it is of benefit. However, the key here is that it was rolled out gradually and consumers were given the right education in how to use it.'"