"Listening to music? Reading? Hurling revenge-crazed suicidal birds at egg-napping pigs? Banking? There’s an app for that. Mobile banking is all the rage nowadays, but not all mobile banking apps are created equal. NerdWallet examines the mobile banking apps at 15 of the largest financial institutions. A few of the largest institutions, including HSBC and SECU, do not have an app, although they both offer mobile websites."
"More and more people are using mobile banking services. In fact, now that 87% of the U.S. population has a mobile phone, half of which are smartphones, the trend will undoubtedly continue its upward trajectory. According to some estimates, 20% of mobile subscribers use their phone to access mobile banking services, with 80% saying it’s more convenient than an ATM machine."
Mobile banking becoming more common, Andera says
"American consumers are becoming more comfortable conducting banking business on mobile devices, according to a new report from financial software company Andera Inc. The 30-month study of application traffic sources showed that consumers in the U.S. are becoming more comfortable conducting more complex banking functions and transactions on smartphones and tablets."
Citizens Bank Launches Mobile Banking
"Today, Citizens Bank introduced Citizens Bank Mobile Banking featuring Xpress Deposit. Now Citizens Bank consumer clients can enjoy the convenience and security of depositing checks, viewing balances, transferring funds, paying bills and locating a Citizens Bank branch or ATM using their mobile phone. Citizens Bank Mobile Banking works with smartphones, mobile phones with Web access and standard cell phones that have a text package."
Banks Close Branches, Raise Account Costs
"Banks are squeezing out customers with higher costs and fewer locations. Several large midwestern banks are scaling down the number of branches they operate and adding sophisticated ATMs that can replace tellers, according to banking leaders who spoke at a financial services conference on Monday, American Banker reported. The latest wave of banks closing locations included Akron, Ohio-based First Merit; Pittsburgh's PNC bank and Key Bank, based in Cleveland. Bank of America, based in Charlotte, NC, has also scaled back its number of branches and ATMs throughout the country in order to cut costs. Earlier this year, First Niagara closed a number of HSBC bank branches in New York after it took over the bank's upstate operations."
World Council Partners With Mobile Banking, Transfer Service
"The World Council of Credit Unions has teamed up with Palo Alto, Calif.-based Boom Financial, a company providing mobile banking and money transfer services to immigrant and unbanked families, in order to bring more business to credit unions in developing countries, Boom Financial announced. The World Council, the global trade association and development agency for 51,000 credit unions that serve 196 million people around the world, will act as a broker and technical consultant solution for Boom, enabling the company to expand its reach into new countries, Boom said."
Union First Market Bank launches tablet banking for iPad
"Union First Market Bank, a provider of community banking and mortgage loan services, has launched tablet banking for the iPad powered by Intuit Financial Services. Customers can now access mobile banking functions directly from their iPad like viewing account balances and account transaction history, transfering funds between eligible accounts, paying bills on the spot, locating nearby ATMs and branches and accessing their financial institution's mobile website, the company said."
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