Mobile Banking Updates - Nov 11

80 Percent of Consumers Say Mobile Banking is Important
"Verve Mobile, a leading U.S. mobile advertising company specializing in location-powered solutions, announced today the results of a study conducted across 3,500 mobile publishers that use the Verve advertising platform. The study reinforces that consumers are not only comfortable and willing to use their mobile devices for banking activities; but that they expect more, easy-to-use mobile options from their financial institutions."

Mobility Matters: Tracking the Mobile Banking Revolution in Credit Unions
"Research is making the point, emphatically: You need mobile banking, and it needs to be app based. New reports from organizations that track these things underline the conclusions that consumers want mobile banking, now, but probably most institutions can hold off on debuting next generation tech tools such as digital wallets."

Mobile Money: The Exploding New Opportunity
"The mobile money marketplace is continuing to grow worldwide, with more and more players jumping on board to reap the benefits, according to a new Market Vision report from Yankee Group. The report, “What’s Next for Mobile Money,” details the current state of the market and lays out Yankee Group’s ideas of how it will evolve in the coming years."

Bank of America’s Secret Weapon
"Apparently, Bank of America (NYSE: BAC ) is much more than its customer service faux pas. The bank felt some heat over its aborted $5 monthly debit card fee and its recent untenable requirements -- since reversed -- for customers in Sandy's path to receive fee waivers. However, in a recent report issued by research and consulting firm Celent, the bank has received top scores for new customer assistance at branch locations, as well as for being well-versed in the nuances of mobile banking."

Branch banking dies hard despite mobile onslaught: Westpac
"Mobile banking take-up skyrocketed, but it's not enough to kill off bank branches just yet, according to Westpac Retail and Business Banking Group Executive Jason Yetton. At Westpac, there is now the same amount of mobile banking transactions completed as those made in retail branches and over the phone — combined. Overall, the bank processes three times more transactions made digitally, compared to transactions made in person."

KPMG Survey: Community Banking Execs See Regulatory Requirements Stifling Growth, Driving M&A Activity
"Community banking executives say new regulatory requirements are stifling growth, negatively impacting financial performance, and driving mergers and acquisitions (M&A) activity, according to a recent survey by KPMG LLP, the U.S. audit, tax, and advisory firm. In the 2012 KPMG Community Banking Outlook Survey, 47 percent of respondents identified regulatory and legislative pressures as the most significant barrier to growth over the next year, while 35 percent said regulatory compliance costs were having the greatest negative impact on financial performance."

Mobile Banking, Payment and Rewards Growth Is Being Fueled By Top U.S. Banks
"Many consumers today are demanding the flexibility and convenience of managing their finances over their mobile phone and most of the leading banks are obliging. Eighty-one of the top 100 U.S. financial institutions currently offer some form of mobile banking, that’s an 11 percent increase from one year ago, according to a recent study that tracks mobile banking and payment offerings."