Mobile Banking Vendor Updates - Aug 30

Six Financial Institutions Select Cleartouch from Fiserv for Account Processing
"Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that six financial institutions have recently chosen Cleartouch® from Fiserv for account processing, in addition to related solutions for online banking, risk management, check capture, mobile banking, document imaging, card production, bill payment and accounting. The Cleartouch bank platform is an integrated, end-to-end solution that delivers real-time capabilities."

Jwaala Partners with Truaxis to Provide Credit Unions with the StatementRewards Platform
"Truaxis, the leader in transaction-enabled services such as personalized card-linked discounts, has been selected by online banking solution provider, Jwaala, to launch StatementRewards to their credit union clients and reach millions of members using their Better Online Banking solution. Truaxis’ data-driven services platform allows these credit unions to provide personalized rewards and discounts, funded entirely by retailers, direct to their customers within the online or mobile banking environment."

Malauzai unveils SmarText to access key account information through m-banking
"Malauzai, which offers mobile banking SmartApps, has rolled out SmarText capability which provides registered users with access to account balances and recent transaction history without having to perform a traditional login on the mobile application. The solution launcher said that the functionality is being used by Lubbock, Texas-based City Bank Texas, US."

Mobile Banking Updates - Aug 29

Apps, a continuing debate: HTML5 vs. Native
"I wrote my last blog about the Future of Mobile Banking Conference more than two months ago, before a busy June, summer holidays, and the Olympics. It’s now time to meet my promise to highlight some of the key points of discussion. One topic which came up several times was the on-going debate between HTML5 and native apps. It’s an interesting debate and an important one, since the decision not only affects the technologies which you will use, but also the resources you will hire, the development and maintenance costs you will pay, and the resultant quality, usability, and performance of your mobile apps. For this reason, a lot of clients with which I have spoken are still struggling to define their mobile development strategy and take a decision one way or the other."

Popular Community Bank Launches Business Mobile Banking App
"Popular Community Bank, one of the nation's premier community banks and a subsidiary of Popular, Inc., announced the launch of the Popular Community Bank Business Mobile application for iPhone® and Android™ devices. This latest advance to the bank’s Mobile Banking Platform has special features for small and mid-size business owners and their staff to manage finances from virtually anywhere."

Technical glitch shuts down cell phone, online banking for Virginia Credit Union
"The problems with Virginia Credit Union’s online banking have been resolved. Full service was restored to members earlier this evening and all systems are functioning normally, said a Glenn Birch, spokesperson for the bank. 'We apologize for the inconvenience to our members and thank them for their patience,' said Birch."

BBVA Compass announces launch of enhanced BlackBerry® App
"BBVA Compass today launched version 2.0 of its free BlackBerry app, adding to its suite of mobile banking capabilities. 'As part of our commitment to continually update all of our mobile banking apps, our new BlackBerry 2.0 app delivers an improved user experience and features new functionality that will be appreciated by our customers,' said Alex Carriles, executive vice president and director of Mobile Strategy and Retail Innovation at BBVA Compass."

International Mobile Banking Updates - Aug 28

Airtel introduces mobile banking in association with DBBL
"Airtel Bangladesh Limited, one of the operations of Bharti Airtel Saturday announced its partnership with Dutch-Bangla Bank mobile banking. With complete adherence to the Bangladesh Bank Guideline on Mobile Financial Services, the Dutch- Bangla Bank mobile banking will now be commercially available for all airtel subscribers. This is going to offer multiple services like cash in, cash out, send money, mobile top up, remittance and salary disbursement etc."

Unlocking Barriers: Advances in Rural Mobile Banking in Mexico
"The banking industry in Mexico estimates there are at least 30 million people that could be integrated to the formal financial system during the following years. However, this is not likely to happen through traditional banking, but through new schemes that leverage existing retail infrastructure and mobile phones to reach the lower segments of the population. Mexico allows third-parties (merchants, mom and pop stores) to process transactions on behalf of banks, and several national and regional retail chains are currently working to be certified as banking correspondents leveraging their existing footprint to bring new customers into the banking system."

BT 24 Mobile Banking service clients increased by 50 pc
"22,500 clients use now Mobile Banking service of Banca Transilvania, BT 24, up by 50 per cent in three months, based on a press release. The bank has thus reached the target aimed for the end of this year, contributing to the increase of accessibility of bank operations conducted by smartphone."

Maybank Singapore launches bank-on-the-go iPhone app
"Maybank Singapore announced the launch of its mobile banking service for customers to bank on the go on Wednesday. The Maybank mobile banking application will be available for iPhones during this initial launch and for other mobile platforms in the second quarter of 2013. Recognising that customers are increasingly turning to electronic channels for their banking needs, the bank is providing a mobile banking platform to complement other electronic channels such as internet banking."

No Absa app this year
"Absa says it expects to launch its long-awaited application in Q1 2013, but the bank promises a more integrated and broader approach to mobile banking than other platforms in the market currently offer. Absa’s mobile banking app was first planned for launch in November 2011, but after reported security issues, the bank’s mobile offering was put into “delayed” status, with no reconvened date announced."

Mobile Banking Updates - Aug 26

Nearly half of cellphone owners expected to start banking by phone by next year
"One in five people who have a cellphone have used it recently to do their banking. By next year, nearly half of cellphone owners are expected to use them to check their bank account balances, pay bills or deposit checks. That may not surprise the 44 percent of people who currently own smartphones and already use them for everything from real-time traffic updates to comparison shopping while standing in a store aisle. It may surprise the 32 percent of consumers who have never even accessed their bank accounts from their home computer."

Mobile banking expected to skyrocket by the end of 2013
"By the end of 2013, roughly 43% of bank customers are expected to be using their smartphone for banking on the go, according to The Federal Reserve. The report said that it is the younger customers leading the trend. But not all young smartphone users are ready for mobile banking. 'I would never use my phone for banking personally, I don't even use the Internet, I don't think it is secure,' said Cleveland State University senior Megan McKenney."

Barclays introduces new mobile banking app
"Barclays PLC has introduced a free mobile banking app, Barclays Mobile Banking app, allowing its 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. In addition, Barclaycard UK personal customers who also hold their bank account with Barclays will be able to view their credit card balance and recent transactions and make a repayment off their last statement balance."

Web - The Forgotten Channel?
"According to many recent analyst reports, including the World Retail Banking Report 2012 co-authored by Cap Gemini and EFMA, customers are viewing the Internet - alongside the branch - as one of the two most important channels of retail banking worldwide. In this context, I find it odd that many banks and nonbanking financial service providers are virtually treating the web as a non-existent channel while communicating the value proposition of their phone, mobile banking and mobile payment services. Let me cite a few examples of this trend."

International Mobile Banking Updates - Aug 23

Banking and mobile money - a powerful convergence
"THE power and versatility of the mobile phone to enable financial transactions is quickly being taken up by financial institutions as they strive to deepen their presence. Mobile money is only about four years old but has attracted close to five million users while less than 15% of the Ugandan population use formal banking services in over 100 years of banking. But the recent decision by dfcu Bank and other institutions to connect their services and clients to the mobile phone will kickstart deeper financial penetration and allow access to more financial services by the backward linkage between the phone and the bank, according to observers."

  Phones ring in banks' future
"THE battle for technology supremacy between Australian banks is accelerating, with the industry preparing for an era in which cash matters less and transactions occur in real time anywhere. Banks are launching smartphone apps aimed at connected customers and retailers, trying to get an advantage over rivals."

ING Direct Mobile App Encourages Savings Through Small Sacrifices
"ING Direct Canada has rolled out a new addition to its existing mobile banking app called Small Sacrifices. The tool helps customers visualize how cutting out everyday indulgences can lead to big savings over the long term. The Small Sacrifices tool is pretty simple. First, users choose what small sacrifice they can make, like passing on a daily coffee purchase. Then users decide which goal to redirect the money to, like their retirement fund or savings account."

The Secret of Africa’s Banking Boom: Mobility
"While U.S. and European banks suffer hangovers from the Great Recession and continued shock waves inside the eurozone, Africa’s top lenders have never looked stronger or been more ambitious. Why is a continent better known for political instability and foreign aid riding a banking boom characterized by aggressive pan-African expansion and swelling balance sheets?"

Mobile Banking Updates - Aug 22

Bank of America Promotes Cash Back Deals
"Bank of America released its online and mobile cash back deals program nationally, so that with the click of a button, customers can choose deals they want through the company’s online banking and mobile banking app. With BankAmeriDeals, customers can get deals from a variety of retail categories in online banking, offers via mobile apps, cash back in their accounts and other rewards."

APAC Banks Evaluate NFC Models and Mobile Wallet Alternatives
"The face of mobile banking in the Asia Pacific region is set to change in a big way. Be it for Singapore, Australia or New Zealand, going by what’s happening in these countries, new forms of digital payments are finding their way in. International Data Corporation (IDC) has highlighted that now major banks in the region are set go beyond basic mobile banking services."

Cool Tech: Mobile Banking With Siri-Like Voice Commands
"Members of USAA will soon be able to ask their iPhone what their current balance is, how much they spent last week and when their next loan payment is due — all through voice commands. The voice recognition service, dubbed Nina, will be embedded into USAA’s iOS and Android application. To activate it, all a member needs to do is press the speech button in the USAA app and say “my voice is my password.” Then they can use natural language to make a wide range of banking inquiries."

Trying to Deposit Checks With My New iPhone
"Bank of America has (finally) begun offering a check deposit feature on its mobile banking app for smartphones and tablets. The addition gave me the push I needed to try mobile banking on my new iPhone. So I tested it, with varying results. Bank of America recently introduced the deposit feature with little fanfare. Citibank and Chase already offer 'remote deposit capture,' as it’s called, and some smaller banks, like USAA, have been offering it for even longer."

How APIs Are Fueling the Mobile Banking Wars
"While some folks tend to think about APIs are being little bits of arcane code that only developers care about it, the truth of the matter is that billions, possibly even trillions, of dollars are at stake in what will soon be a series of API wars. In no place is this more important than in mobile banking, where companies ranging from Google, the PayPal unit of eBay and lesser known entities such as MineralTree are all vying to usurp the role of traditional financial institutions."

Mobile Banking Security - Aug 21

Mobile banking fraud hits Brazil
"It finally hit – in Brazil which reminds me of how Internet banking fraud started – also in Brazil. It looks like the same mode of attack. One mobile device is used to illegally access multiple online bank accounts and to transfer money out of them to new payees or existing mule accounts. Apparently, the banks in Brazil are more liberal with online banking functionality (e.g. money transfers) on mobile devices than the North American and European banks are."

Is mobile banking really safe?
"Your smartphone is your camera, your calendar, and your communications center. Why shouldn't it be your bank too? Between apps, the browser, and text messaging, you can check balances, pay bills, transfer funds, receive alerts, and even deposit checks on the go. Some 29% of U.S. mobile users already deploy their devices for such purposes, Javelin Strategy & Research reports."

Mobile Banking Updates - Aug 19

Mobile Banking Adoption Triples in Two Years
"Mobile banking adoption has tripled in the past two years, according to research from Dallas-based SWACHA, a not-for-profit electronic payments association. According to SWACHA’s Consumer Insights Survey, which polled 600 Texas residents in August 2011 in partnership with research and marketing firm Decision Analyst, 20 percent of respondents said they currently bank on their phones, compared to 7 percent in 2009."

Report: 108 Million U.S. Mobile Banking Users by 2017
"Forrester Research in its newly issued “The State of Mobile Banking 2012” dropped a huge bomb: Much quicker than many expected, mobile appears primed to emerge as a dominant banking channel with a predicted 108 million users by 2017, per Forrester. That pencils out to some 46% of all U.S. bank account holders. By contrast, around 13% of present U.S. account holders have done mobile banking."

Online vs. mobile banking
"A new study from Javelin Strategy & Research shows that banking customers are still primarily relying on online tools over mobile apps to manage their money. According to two surveys of 8,400 consumers, only 8 percent of customers have transferred funds between their own accounts using a phone."

BofA Mobile Deposits: Better Late and Great Than Never
"Bank of America's iOS app is one of the oldest in the App Store, but it's been given a facelift that brings in some useful new features. Chief among them is mobile deposit, which lets users deposit checks simply by sending photos of checks to BofA via the app. Banks like Chase beat it to the punch on this feature by a matter of years, but BofA customers will still likely appreciate the upgrade."

Mobile Banking Updates - Aug 16

Mobile Banking Trends and Innovations

Nuance’s Nina Platform Adds Speech Interface to Corporate Mobile Apps
"If you’ve ever wanted to talk to the mobile banking application on your iPhone or Android device, you soon may get the chance. Nuance, the voice technology company best known for its Dragon Naturally Speaking line of voice applications for personal computers and Dragon Dictation on the iPhone, today announced Nina, a voice platform that’s aimed at enhancing customer-service applications with a Siri-like voice-control interface."

McGraw-Hill Federal Credit Union One of the First Credit Unions Nationally to Launch Mobile Banking Tablet App
"McGraw-Hill Federal Credit Union (McGraw-Hill FCU), a leader in providing advanced financial technology, announced the launch of its new mobile banking iPad app. McGraw-Hill FCU is a first mover among an approximate four percent of credit unions nationally to implement a tablet app, placing the credit union at the forefront of its industry in mobile banking technology."

International Mobile Banking Updates - Aug 15

Mobile payment platform tPago expands across Latin America to cater for the unbanked
"Mobile transaction platform tPago is expanding across Latin America to cater for the unbanked, its parent company GCS International has announced. As you may know, it has been operating in the Dominican Republic since 2010, and will now be available to users in Colombia, Guatemala, El Salvador and Puerto Rico. Mobile payments are an attractive and fast-growing segment; according to Pyramid Research, the number of users of mobile transaction platforms in the region will reach 140 million in 2015, a huge jump from 18 million today."

Mobile-banking: A win-win combo
"It was August 2002. The Indian mobile market was yet to show its true potential despite the early promise. We were miles away from the revolution we are experiencing today. Though everyone was more or less convinced about the impending communications revolution, the debate over the relative growth potential of ‘fixed line’ and ‘mobile’ still raged."

National Bank to Hire Mobile Banking Consultant
"The National bank of Ethiopia is to hire a consultant to support its plans to prepare a regulatory framework for the launch of mobile and agent banking services in the country. The technology is expected to be helpful but it prudent to be careful in regards to security issues before implementing a new system said an official with the Banking Supervision Directorate of the NBE."

Westpac launches Android NFC payments app
"Westpac Banking Corporation has joined the throng of Australian financial services giants attempting to stay ahead of the growing trend towards payments from mobile phones, launching an app yesterday that will allow those with Android smartphones to make mobile payments through their embedded NFC chip."

APAC Banks Fighting To Gain Mindshare In Mobile Banking
"Banks in Asia/Pacific are ramping up their mobile banking propositions as they race for mindshare among the region's increasingly technologically savvy customers. The mobile channel is the top priority channel for most banks in 2012, and leading banks in Asia/Pacific have deployed their best resources to this "channel of the future", launching standout features and functionalities, ensuring growth in activity rates among customers, and better managing the technology requirements of this channel."

Tanzania: Mobile Phones Help Spread Financial Services
"THE rapid use of mobile phones in Tanzania is seen as an opportunity to expand formal financial services to the market. That is why the Tanzania Postal Bank (TPB) seeks to embrace the technology of mobile phone banking, to serve the remote rural areas. Mr Alphonce Kihwele, the previous TPB'S Chief Executive Officer, says that nearly 25 per cent of Tanzanians have access to a mobile phone. TPB sees that as an opportunity and appropriate technology to include the rural savings into the mainstream of the economy, to enable customers access financial services for improvement of their well being and poverty reduction."

Mobile Banking Security - Aug 14

Banking trojan targets BlackBerry users
"Criminals are targeting BlackBerry devices with four new variants of the dangerous ZitMo mobile banking trojan. ZitMo (Zeus in the mobile) appeared two years ago and is designed to steal mobile transaction authentication numbers (mTANs), or one-time passwords."

Security fears hit mobile banking
"Mobile banking has yet to take off in the UK due to a lack of trust in security, according to a new YouGov survey. The survey, carried out on behalf of outsourcing company Firstsource Solutions, revealed that 80% of smartphone users have not embraced mobile banking and 58% are unlikely to use their phone as a 'Mobile Wallet'."

Security fears wrecking trust in mobile finance, survey finds
"A spot survey of UK smartphone users has uncovered a cool attitude to mobile banking with security worries cited as the main reason for users' reluctance. Using a reasonable sample of 2,148 adults, YouGov found that 80 percent either didn't or barely used mobiles for banking or financial transactions, with 58 percent seeing themselves unlikely to use a mobile as a wallet even if that feature was made available."

Mobile Security Still a Race Between Bad Guys and Good Guys
"Pop quiz: Which statement is true? Mobile banking is becoming more secure. When it comes to mobile security, the crooks are gaining. Actually, both choices could be the right answer, experts have said."

Mobile Banking Updates - Aug 12

Wells Fargo Again Named Best Internet Bank in U.S.
"In its 13th annual World’s Best Internet Banks competition for North America, Global Finance magazine also recognized Wells Fargo, among corporate/institutional banks, as Best Mobile Banking (for the second consecutive year), Best Online Treasury Services, and Best Web Site Design."

Bank of America Is Going (More) Mobile
"Mobile banking is gaining in popularity, and banks are beginning to take notice. One of these forward-looking institutions is Bank of America (NYS: BAC) , and it has just taken a great stride toward maintaining its leading position in this arena. Hot on the heels of an announcement that B of A would be closing more ATMs nationwide came the good news: The bank would soon be rolling out updated mobile banking apps for Apple's (NAS: AAPL) iPad and iPhone, as well as for Google's Android-based tablets and smartphones."

Chase App Makes Mobile Banking Easier With 24 Month Transaction Display, Access to Chase Liquid Acounts, and More
"While other mobile banking applications are just now receiving features such as deposit scanning, Chase is moving onward and upward, updating their Android app with new features and enhancements."

How Mobile is Reshaping Every Banking Channel
"The emergence of new banking channels has significant implications for financial institutions, particularly when it comes to cross-channel information and service delivery. Financial institutions have to have a strategic plan to not only deliver appropriate capabilities through the appropriate channels, but to make sure the channels work together in a complementary fashion."

Mobile Banking Updates - Aug 9

Predictive Customer Service Tech Wins Award
"The ability to predict a customer's problem before he or she even reports that problem is a clever innovation, and for Personetics it was enough to be honored by a roomful of bankers at SourceMedia's Mobile Banking and Commerce Summit."

Mobility Matters: Tracking the Mobile Banking Revolution in Credit Unions
"Freedom of choice. Call that the theme of this week’s column which looks at how credit unions that want can tell their core providers to take their mobile apps and shove them. Even more startling: it is possible to home-brew mobile RDC, dodging hefty monthly licensing and maintenance fees. And, lastly, it may be time for a complete rethink of how to protect mobile banking users from crooks, starting with a shift of responsibility away from the member."

Mobile banking extends beyond normal services to include social media
"Americans bought 100 million smartphones in the fourth quarter of 2011 alone, according to International Data Corp. With sales figures like that, it’s no wonder that all businesses, and banks in particular, are stepping onto mobile platforms."

Bank of America Working for Apple
"For some pretty stodgy companies -- often seen as being out of step with younger Americans -- the big banks are laboring to show how cool they are when it comes to mobile services. The Wall Street financial war chests are stockpiling press releases about new mobile offerings in a race not unlike the way in which the White House and Kremlin once stockpiled nuclear warheads to prove supremacy."

More area banks to offer mobile deposits
"Jen Faber has grown accustomed to depositing checks into her bank account while sitting on her couch. It takes her 10 minutes to take photographs of 30 checks and submit them to her bank. Within hours, the deposits show up in her account. 'It’s super-fast,' said Faber, who uses MT Bank’s mobile banking program for small businesses. 'One of my biggest priorities is saving time.'"

Mobile banking, once a gee whiz feature, is becoming ubiquitous
"Just in the last few months, a number of financial institutions have enabled their smartphone-wielding customers to transfer funds, look up their balances, pay bills and handle other banking chores while on the go. -Raleigh-based Coastal Federal Credit Union launched its mobile banking service to its "social media followers" in late April and broadened the service to all of its 193,000 members at the end of May. About 8,900 members had signed up as of June 24."

International Mobile Banking Updates - Aug 7

The Slow Shift from Cash Economies to Mobile Banking
"As I have written previously on the blog, mobile banking has the potential to make daily life for the world’s poorest not only more convenient, but also more financially secure. In fact, given the significant drawbacks of cash economies, mobile banking is now recognized as an effective antipoverty tool. After all, when someone stores her money in her home or on her person instead of in a formal bank account, she runs the risk that robbery or disaster will wipe out her assets. Studies show that when people save informally, they stand to lose between 15 percent and 25 percent of their savings each year—a huge loss for anyone but especially for those living on the edge."

NAB hits 2m mobile transactions at $1.5bn value
"MOBILE banking transactions are booming with the National Australia Bank reporting 2.1 million transactions from mobile browsers and apps for the month of July at a value of about $1.5 billion. The bank's mobile banking transaction rate is growing at 10 per cent a month, according to Ben Forsyth, NAB's head of mobile technologies."

UK smartphone users averse to mobile banking
"Just 20 per cent of UK smartphone users have embraced mobile banking services, with fears over the security of personal data chief among the barriers to adoptions, according to a recent survey conducted by YouGov. The survey, initiated by outsourcing firm Firstsource Solutions, also suggested a resistance to mobile wallet services in the UK, with almost 60 per cent of respondents ‘unlikely’ to use such a service."

A journey of banking for generations
"Up to 1994 - Remember when you had had to visit a branch to do your banking? Banking transactions were done manually, customers had to travel to branches or agencies to do their banking and transactions were all recorded on paper."

Now buy online rail tickets without cards or net banking
"State Bank of India customers will be able to pay for online train bookings through mobile banking using the Interbank Mobile Payment System that is available to all depositors."

Mobile banking has more hackers
"The shift to mobile banking has resulted in increased risks associated with hacking by those wanting to access personal information, says software company Netxactics. Delivering the 2012 Sophos Security Threat addressnin Durban company COO Cornel Swart said the incentive for hackers to attack mobile devices like cellphones and tablets was growing along with increased reliance on these devices for banking and other transactions."

Mobile Banking Security Lab launched
"The Reserve Bank of India Governor, D. Subba Rao, on Friday inaugurated a mobile banking security lab set up by the Institute for Development and Research in Banking Technology. The institute, established by the RBI, supports the Indian banking industry through innovative technology initiatives and interventions."

Mobile Banking Updates - Aug 5

MOBILE 2.0 BBVA Compass develops own apps
"Mobile banking today is where online banking was about ten years ago, but its development is accelerating rapidly. Following a lukewarm start with software vendors three years ago, BBVA Compass bit the bullet and brought its mobile banking entirely in-house. Now it's rolled out updated apps for Android, iPhone, iPad, and Blackberry and has plans to steadily increase functionality. The bank estimates that 20% of its customers use its mobile apps."

New Mobile App Leads to New Core
"With six total branches, of which five are located inside the walls of the manufacturing facilities and corporate offices of Indianapolis-based pharmaceutical giant Eli Lilly and Co., executives at Eli Lilly Federal Credit Union know how important it is to make access to services quick and easy for members who reside in every state and 37 foreign countries."

Simple Money Handling App For iPhone
"Mobile banking has seen progress in recent years, but it has mostly been based on the networks’ accessibility and willingness to provide the service. However, the flexibility of the iOS has given banks a new way to promote their services wirelessly through applications. Developing applications for Apple’s platforms has become the top priority for most banks while some of the bigger ones such as Citibank and Chase already have functioning applications that let you handle your transactions from your phone. Some pure payment companies such as PayPal have even developed apps that enable you to scan the credit card with the camera and use it to transfer money."

Digital Money, Mobile Wallets and Latin America
"A recent wave of global and regional announcements regarding mobile wallets and payment systems has casual and close followers alike asking some the same questions. What exactly are they talking about? Whether the statements are promoting digital money, mobile payments, mobile banking, prepaid or a mobile wallet, one thing is certain: the lack of consistency in terminology and the vagueness typical of early product releases has made the task of distinguishing all the more difficult with each new announcement, confusing would-be industry participants and potential end-users. So, it would seem that some demystifying is in order:"

Mobile Payments: Can Banks Seize the Moment to Transform Consumer Finance?
"Although payments have existed in some form since the dawn of civilization, there probably never has been as much innovation, uncertainty and activity in the payments space as there is now. Much of that uncertainty has to do with the role -- today and in the future -- of banks in payments. Banks and financial services firms, including the major card companies, continue to provide much of the infrastructure that processes, supports and maintains payments. But it often seems as if most of the innovation around payments that is capturing the hearts and minds of customers (consumers and corporates) is coming from non-bank players, ranging from Internet behemoth Google to a host of much smaller and less-well-known technology firms."

Mobile Banking Updates - Aug 2

Isis mobile pay service may start trials in August
"Isis, a joint venture among Verizon Wireless, ATT, and T-Mobile USA, will likely start trials of its mobile-payment service in August, according to a person familiar with the launch plans. The August target, however, isn't set in stone. CNET has gotten indications elsewhere that the timing may change. A representative for Isis only said the service would begin trials in Salt Lake City and Austin, Texas, this summer, pushed back from the prior forecast of a mid-year launch."

Great Potential in Mobile Services for Small Business Clients, FundTech Survey Says
"Bankers see SME (small and medium enterprise) clients as their biggest opportunity for growth, while regulations and compliance remain they're biggest concern, according to survey results released today by FundTech, a transaction banking solutions provider. The survey of 137 banking executives from more than 100 institutions was conducted at FundTech's annual North American Insights client conference in Arizona last month."

payvia Launches Bill-to-Carrier Mobile Payments Service
"payvia announced the launch of its next generation mobile payments platform and latest direct carrier billing agreements with Sprint and T-Mobile USA."

Visa: Mobile payments will hit mainstream in 2 to 3 years
"That vision of paying for goods and services with your phone anywhere you go? You shouldn't hold your breath. While there are trials and select deployments of payment terminals and cash registers that can accept mobile payments, the method won't hit the mainstream in the U.S. for another two to three years, according to Bill Gajda, head of mobile for Visa."

Braintree Wants to Make Mobile Payments History
"If you’ve ever searched Amazon (AMZN) using your i-Phone and decided you wanted to buy something, you’ll understand Braintree. And due to its unique technology, Braintree makes it easier for merchants to let you pay for those purchases quickly using your mobile."