Mobile Banking Updates - Sept 30

Keeping pace with technology, customers
"Back in the day, innovation to a bank meant a new toaster for customers opening an account. These days, it’s high-tech or die, as banks give customers up-to-the-nanosecond ways of checking on their money, transferring it around, paying bills and more, all from the comfort of their home or more likely, the palm of their hand."

Mobility - A New Way for Banking
"We often talk about mobile banking from a technological point of view, about the fancy new tools which allow customers to view the status of their accounts or execute simple transactions. Many have the view that mobile banking is a simply new channel for online banking, bringing the functionality available on the desktop to the mobile phone. I would contend that for mobile banking to be truly successful, it needs to be much more; it needs to be a new way to do banking, a permanent space for the bank and its customers to interact."

Mobile, P2P and New Competitors: Navigating the Transformation of Payments
"The growth of digital channels – from mobile banking and P2P networks to mobile deposit – is transforming the payments industry. Financial institutions with large IT budgets and vast geographical reach are rolling out new capabilities and services to attract consumers, while new, non-banking competitors are aggressively offering alternative payment methods. These competitors are positioned to circumvent the relationship members have with their credit unions by fragmenting their payments behaviors."

Companies partner to offer rapid deployment of mobile RDC
"Bluepoint Solutions announced a partnership with Malauzai Software to provide community financial institutions with a rapidly deployable mobile deposit offering. Through the partnership, Bluepoint's mobile deposit solution QwikDeposit ToGo will be bundled with Malauzai's SmartApps mobile banking application to provide institutions with an integrated, end-to-end mobile banking and mobile deposit product."

iovation Reports 12% of Financial Services Transactions Originate From Mobile Devices
"iovation, the Device Reputation Authority™ protecting online businesses from fraud and abuse, today announced that 12 percent of all financial services transactions it protects originate from mobile devices, such as iPhones, iPads, Android and BlackBerry devices. Compared to the same period in 2011, where only 2 percent of financial transactions were from mobile devices, it is clear that consumers are adapting quickly to mobile banking technology."

Chase Mobile goes Lumia
"As one of the biggest banking institutions in the United States, JP Morgan Chase carries a lot of weight. This is why it’s exciting to see Chase Mobile coming to Windows Phone and the Nokia Lumia line of phones. Mobile banking is growing in popularity, especially in the US. TechCrunch reports that more than 46% of Americans will use mobile banking by 2017. With Chase Mobile for Nokia Lumia, you’re able to monitor your account, perform transactions, find locations and find out how to contact Chase if you need to."