Mobile Banking Updates - Jul 6

Report: Customers leave FIs for conveniences like mobile banking
"Eleven percent of consumers are likely to switch primary financial institutions in 2012 in a quest for greater convenience and service, according to a new report announced this week by Javelin Strategy & Research. Giant banks face even larger defections, with Citibank and Bank of America at risk of losing twice as many customers. This could mean huge potential losses for FIs; switchers manage $675 billion in deposits, and manage deposits that are 30 percent higher than customers who are unlikely to switch."

Are Cash Withdrawals Without a Debit Card the Future of Personal Banking?
"This month has seen the announcement of ground-breaking mobile banking applications from both the Royal Bank of Scotland (RBS), a group which also includes British bank Natwest, and US-based ATM suppliers NRC Corporation. ‘There’s an app for that…’ Responding to the growing utilisation of smart phones (the market growth of smartphones was 63% last year), RBS is introducing its ‘Getcash’ software to the 2.4 million customers who already use the RBS and Natwest mobile banking application.

Why developing economies are embracing mobile banking
"More than half of the world's adults — 2.5 billion — are unbanked, according to research recently published by the World Bank Development Research Group. The American government, however, estimates that the U.S. is home to only 10 million of them, which means the vast majority of the unbanked live outside the country. And many of them reside in developing areas, such as India, where more than 40 percent of residents are unbanked, and Africa, where that number is at a staggering 80 percent."

CertusBank goes Mobile -- Expanded Online Offering
"CertusBank, N.A. introduces mobile banking for all retail banking customers across its footprint. Banking whenever and wherever you want - CertusBank Mobile Banking customers can reach us via text messaging and browser supported service. Convenient and secure - CertusBank Mobile Banking offers our full range of online banking services, including:"