BAI Mobile Banking Updates - Oct 14

mFoundry Launches New Mobile Banking Platform
"Mobile banking and payments provider mFoundry announced the release of a new mobile banking platform it says will offer banks new ways to capitalize on the continued growth of mobile banking services. mFoundry’s Fin.X product enables financial institutions financial institutions to deliver mobile banking services through an "advanced extensible architecture," said the company. mFoundry also announced a service provider network for Fin.X of 30 companies, including FIS, Diebold, Dwolla, Blackhawk Network and Micronotes."

Breaking the Glass Ceiling of Mobile Banking Adoption
"Credit unions of every shape, size and type recognize the benefits that mobile banking offers – a lower cost to serve, increased member satisfaction, retention and a higher return on investment. But for many, breaking through the mobile banking adoption glass ceiling has been challenging. The mobile banking glass ceiling lies just beyond the threshold of early adopters, designated as the first 20% of a financial institution’s online banking user base. Many credit unions are on a mobile banking adoption path that attracts the early adopters within a year of offering the service, but the trajectory then stagnates to include just a small additional percentage of adopters over the next two years."

Survey: millennials drive rising popularity of mobile banking
"Mobile banking providers like mFoundry are expanding the services available through mobile banking tools, creating a network of providers linked through a financial institutions mobile portal. A new survey by the American Bankers Association shows why that strategy makes sense. The study found a sharp rise in the popularity of mobile banking, driven mainly by customers in the 18 to 34-year-old age group."

BAI Retail Delivery: Branson Wows, but Mobile 2.0 Rules
"Keynotes by Sir Richard Branson, the $4 billion Virgin serial entrepreneur, and global strategist Jonathan Salem Baskin. Panel after panel on mobile banking, peer-to peer-payments and the rules of engagement with social media. A tentative obituary for near field communication, an innovative payments technology around which enthusiasm seems to be crumbling."

American Express and Walmart Team for Consumer Mobile Banking
"For days, speculation has loomed about what the forthcoming partnership between American Express and Walmart would mean. Now we know. On Monday, Walmart and American Express confirmed the launch of Bluebird – an alternative to debit and checking accounts designed to help consumers 'better manage and control their everyday finances.' According to Walmart and American Express, Bluebird has been developed for the tens of millions of Americans who are looking for advanced capabilities such as deposits by smartphone and mobile bill pay. Bluebird will be available next week online at bluebird.com and in more than 4,000 Walmart stores."

Survey: Mobile banking grows in popularity
"Mobile and Internet banking are becoming more popular among bank customers around the country, especially those aged 18 to 34, according to a survey conducted by the American Bankers Association. Mobile banking is the preferred way to conduct business for 6 percent of customers of all ages. But of millennials — the 18 to 34 age group — 15 percent said their favorite method of banking was mobile."

 BAI, Mobile Banking Rings the Cash Register: Onsite Coverage
"Mobile banking will save you money. And it will make you money. Those are the two top-line messages from an opening day BAI Retail Delivery session at the Washington Convention Center on Tuesday with Zions Bancorporation senior vice president Matthew Wilcox and Drew Sievers, CEO of mFoundry, a mobile banking apps developer."