Mobile Banking Updates - Jul 16

Mobile banking, once a gee whiz feature, is becoming ubiquitous
"Mobile banking, which not long ago was the next new thing, is quickly becoming a must-have service for area banks and credit unions. Just in the past few months, a number of financial institutions with a presence in the Triangle have enabled their smartphone-wielding customers to transfer funds, look up their balances, pay bills and handle other banking chores while on the go."

The Mobile Value Chain Challenge
"When the first mobile banking services launched in the late 90’s, the technology was way ahead of consumers – both their needs and access to the technology. Internet banking was still being established and so banks and consumers were still building confidence in accessing their accounts remotely. More importantly, whilst it was technologically possible to create a WAP banking site, most consumers didn’t have a WAP capable phone, and even those who did, the user experience was very poor."

Mobile Banking Advocates Open North American Unit
"Mobey Forum North America will bring together experts in the industry to resolve issues affecting mobile financial services, the group said Monday. Members will include representatives from American Express (AXP), Bank of America (BAC), Capital One Financial (COF), CIBC (CM), MasterCard (MA), TD Bank Group (TD), U.S. Bancorp (USB) and Visa (NYSE:V)."

Citi's Endorsement Could Be Huge For Facebook's Online Banking Push
"We recently commented on Facebook’s rumored interest in the online social banking space, which seems to be the next logical progression after internet and mobile banking offerings from major banks have firmly taken root. Apparently, Citibank may already be working such a social banking offering on the Facebook platform."

ATM Cash Withdrawals Go Cardless With Mobile Banking App
"Customers of RBS and NatWest, two major UK banks, can ditch their debit cards for their mobile phones. Thanks to a new innovation, customers can use the ‘GetCash’ service to pull cash from ATMs without needing a debit card. GetCash offers customers an easy fix for lost or forgotten cards, a way to get cash quickly to family members or friends in need, or a choice of leaving their wallets at home."

Barclays unveils latest mobile banking application
"Barclays has kicked off a new free mobile banking solution, which facilitates its customers to have simple access and a way of managing their accounts while traveling. The UK based lender said that the mobile banking application is available on its site at no cost, which will enable the bank's personal and small business customers to view their balances and last 30 transactions, make transfers between accounts, pay bills and find branches or Barclays ATMs."