"Brandon McGee, Industry Insider, Mobile Banking Guru...He is not only the real deal, a genuine industry insider, but also knows exactly what's on the minds of financial service pros as they contemplate the various mobile options." - Jim Bruene, Publisher & Founder, Online Financial Innovations

"Going Mobile. Local executive carves niche as national expert on fast-growing banking-industry technology trend" - Scott Olson, Indianapolis Business Journal (IBJ)

"Brandon McGee, the industry's unofficial ambassador for mobile banking" 

Sunday, December 30, 2012

Mobile Banking Updates - Dec 30

Mobile Banking Forecast: Smartphone and Tablet Use in the United States
"A new report from Aite Group provides financial services executives with guidance on the most important mobile banking features for investment. Based on a Q2 2012 Aite Group survey of 1,115 U.S. consumers, the report forecasts consumer mobile device use for a variety of financial transactions and activities."

First Niagara Bank Launches Mobile Banking Apps
"First Niagara Bank has released the first version of its native mobile-banking applications. Now available for download through the Apple App Store and Google Play store, First Niagara’s mobile apps allow customers to view account balances, access transaction history, transfer money between First Niagara accounts, pay bills and locate the nearest branch or ATM."

Mobile banking expected to triple from 2012 to 2016
"The future of mobile banking is strong, according to a new report from analysts at Aite Group. The Boston-based research firm said that approximately 7,000 financial institutions in the U.S. now offer mobile banking services and that more will deploy them in the years ahead, judging by growing consumer demand."

NatWest and RBS mobile banking apps falter
"NatWest and Royal Bank of Scotland (RBS) customers have been unable to access their bank accounts through their mobile phones just as consumers try to keep tabs on spending in the run-up to Christmas. Ulster Bank, business, commercial and offshore account holders also experienced problems with intermittent access to their respective mobile apps today. While service has now been restored for most customers using iPhone, Blackberry and Android phones, this incident comes just two months after NatWest had to suspend its Get Cash mobile phone application amid reports that some customers had hundreds of pounds withdrawn by fraudsters."

Mobile banking useful, not universal
"If you've seen any bank commercials lately, you'd think mobile banking is a standard feature on bank accounts these days. But while it's gaining in popularity, it's still not a given that your bank offers it. There are now around 7,000 financial institutions offering mobile banking to retail banking customers, according to an estimate in a new report by Aite Group. Considering there are about a little more than 14,000 banks, thrifts and credit unions in the country, according to data from the Federal Deposit Insurance Corp. and the National Credit Union Administration, that means about half of all financial institutions offer customers the ability to bank on their cellphones."

Thursday, December 27, 2012

Mobile Banking Updates - Dec 27

Why Internet and Mobile Banking Can Be Out of Sync
"In the continuing discussion around mobile banking as a standalone channel, a new dimension has emerged: the platform’s parity with Internet banking. Mobile banking apps, especially native apps, are evolving at a rate higher than Internet banking. Not surprisingly, cool, new technologies are geared more towards a mobile platform. The creativity in this particular space is, in part, due to the overwhelming demand for the service. Consumers' use of mobile banking rose dramatically in 2011, jumping by 63% to 57 million U.S. adults from 35 million in 2010, according to Javelin Strategy & Research."

Mobile banking will take a big leap, bypass Net banking
"The banking sector has seen a conscious shift from corporate lending to retail lending in the past few months. S.S. Mundra, executive director, Union Bank of India, believes that retail lending is the best business strategy for any bank in the current market conditions. In conversation with Mint Money, Mundra talks about why low-cost products are not marketed well and how the government-run bank is coming to terms with technology, while trying to maintain a balance between traditional and new-age banking."

Fiserv publishes mobile ROI white paper
"Financial services technology provider Fiserv Inc. has published a free white paper that discusses the value FIs can realize from their mobile banking channel by taking mobile beyond basic services. The white paper is titled 'Next Generation Mobile Banking: Transactions Increase Potential Return on Investment.'"

Credit Unions in Oklahoma, Missouri, Texas Add Mobile Banking
"Three credit unions — the $126.5 million Municipal Employees Credit Union of Oklahoma City, the $46 million Central Communications Credit Union of Independence, Mo., and the $192.5 million Texell Credit Union of Temple, Texas — have announced their adoption of mobile banking services."

Thursday, December 20, 2012

Mobile Banking Updates - Dec 20

Integrating Mobile and Branch Banking Will Increase Customer Loyalty
"Mobile banking has finally come into its own. Almost one-third of the 5,200 consumers that Bain and Company surveyed recently used their smartphones or tablets for some type of banking interaction during the three months prior to the survey, up sharply from one-fifth of respondents in 2011. Our survey finds that mobile banking is more likely to increase a customer's likelihood to recommend his or her bank to other people than any other channel interaction."

CIA's venture arm backs mobile banking, NFC developer
"In-Q-Tel, the technology investment arm of the U.S. Central Intelligence Agency (CIA), will invest in Tyfone, a small developer of mobile banking, identity management and near-field communication systems. The size of the investment was not disclosed. Although the investment doesn't come with the guarantee that Tyfone's technology will be adopted by the U.S. government, that possibility was hinted at in a joint statement announcing the deal."

Research and Markets: Mobile Banking Gains 10 Million Users As Smartphone And Tablet Adoption Soars "The ability to securely manage banking transactions, especially on smartphones and tablets, has become extremely appealing. Mobile banking gained 10 million new users in 2012 and currently reaches one-third of the mobile adult U.S. population. As smartphones outnumber feature phones and tablets surge, Android and Apple delivered and defined the market in 2012. Consumer adoption of mobile banking at small, medium, and giant institutions and credit unions varies by the quality of mobile services offered. This report contains an annual roundup of five-year forecasts for the U.S. consumer market for mobile banking adoption, mobile phone usage, smartphone adoption, smartphone adoption by operating system, tablet adoption, and tablet adoption by operating system."

Wednesday, December 19, 2012

Mobile Banking Updates - Dec 19

Bank of America's Plan to Drive Mobile Banking Beyond 12 Million Users
"Twelve million mobile banking customers may sound like a satisfactory number, but Bank of America wants more. As part of a drive to sign up more people for mobile banking, the bank is outfitting its teller stations with quick response (QR) codes that can be scanned by mobile devices to download the mobile app. David Godsman, senior vice president of online and mobile solutions, says the teller station registration is part of a multi-pronged campaign to grow mobile banking. The bank's current 12 million mobile subscribers are a fraction of its 58 million total consumer and business customers."

2012 Hispanic Mobile Banking Infographic
"The growth of mobile device technology and its usage throughout the day changes the way marketing is done. ThinkNow Research and Zpryme Hispanic Insights have collaborated to create an infographic that shows statistical trends in Hispanic mobile banking usage. Although financial institutions aggressively promote their mobile websites and applications to consumers through TV commercials and online app stores, this study shows the main reason Latinos don't use mobile banking is because they are concerned about security (44%)."

Mobile check deposits latest in mobile banking technology
"A result of growing customer demand for more technology-focused banking convenience, mobile check deposits are now available as part of the Arvest Mobile Banking application for iPhone® and Android™. This is among the most sought-after services by today’s banking consumer and is changing the way deposits are made. Mobile check deposits allow consumers to use their smartphones camera capability to take photos of a check and deposit it remotely, anytime, from almost anywhere, without ever setting foot in their bank."

Credit Unions Outperforming Community Banks in Mobile: Report
"Credit unions are outperforming community banks in mobile banking, according to new research from Pleasanton, Calif.-based Javelin Strategy & Research. Javelin examined the top ten community banks and top ten credit unions, by deposit size, and found that nine out of the ten credit unions offered web-based mobile banking, while three out of the ten community banks reviewed do not offer a single form of mobile banking."

Tuesday, December 18, 2012

International Mobile Banking Updates - Dec 18

Diamond Bank takes mobile banking to Federal Palace
"WorldStage Newsonline-- Diamond Bank Plc, at the weekend took its mobile banking truck, tagged Diamond-in-Motion to the Federal Palace Hotel for a live Christmas shopping event organised by Lost in Lagos.com. Lost in Lagos.com is a website that helps people to discover Lagos, with the most comprehensive list of Lagos’ restaurants, shops among others. The company organised a shopping event at the weekend which featured some major fashion designers and other vendors that attracted customers from far and near."

Bank of Ireland Announces Details of its new Pay to Mobile Service and Calls for Customers to Register Today
"Bank of Ireland today (Friday, 7th December 2012) announced details of its new Pay to Mobile service, which is due to launch to its customers early in the New Year. An enhancement to Bank of Ireland's Mobile Banking app, Pay to Mobile allows customers to transfer money safely and quickly to family and friends with a registered Bank of Ireland account, simply by using their mobile phone number. Customers are invited to register now for this service so they are ready to use Pay to Mobile as soon as it launches."

Mobile banking: A technology gradually permeating into the system
"Last month, HDFC bank, India's second-largest private-sector bank, launched two services on its mobile banking platform. The first was a Hindi banking service, which made accessible its 30-odd m-banking services-like transferring funds, stop-cheque requests and opening a fixed deposit-to account holders who prefer Hindi as a medium of communication."

Sacombank Selects New Generation Internet And Mobile Banking Solution From Infosys Finacle
"Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) has announced its partnership with Infosys, a global leader in consulting and technology, to implement the new generation Finacle e-banking & mobile banking solution. The Bank will install Finacle’s consumer e-banking, corporate e-banking and mobile banking solutions. The solutions will enable the bank to develop sophisticated Internet banking products and services with faster roll out times, targeted at improving customer satisfaction. It will also help influence customer loyalty through unique personalization capabilities, industry-leading security features and intelligent customer insights that will drive the adoption of online banking."

Tyfone finds partner for entry into Latin American market with mobile banking, payments
"Tyfone is expanding into Latin America through a deal with Protege Sistemas of Brazil (operating as Rede Protege and in partnership with Quality Administradora & Investimentos) to bring its solutions for mobile banking, mobile wallet and mobile ticketing for mass transit to Brazil and Latin America. Protege Sistemas is a provider of electronic transaction and transit ticketing services. The company provides transaction processing services for São Paulo Metro."

Monday, December 17, 2012

Mobile Banking Security - Dec 17

Android banking Trojans were in Google Play store
"Mobile banking Trojans for Android devices, disguised as real banking apps, have made their way into the official Google Play store, where at least one was up until earlier this week. Once a user downloads and launches one of the malicious apps, which are all variants of the CitMo Trojan, the app prompts users to enter their phone numbers. Then users are asked to enter a 5-digit code they receive via text message."

Crime hits mobile banking
"ARIOUS estimates have placed the number of economically active South Africans without bank accounts at almost a quarter of the population. In contrast, the majority of people have access to cellphones, highlighting the potential for mobile financial services similar to Kenya's M-Pesa. Locally such services have failed to gain the same sort of traction as the wildly successful Kenyan operation - which allows users to make a range of transactions using text menus and - mainly as a result of differences in access to conventional financial services."

Sunday, December 16, 2012

Mobile Banking Updates - Dec 16

Mobile Banking Soars; Usage in U.S. Increases 50 Percent Since 2011
"Mobile banking has taken hold around the globe, presenting significant opportunities for banks to drive out costs and deepen customer relationships; this according to Bain & Company’s annual “Customer Loyalty in Retail Banking Report (2012 global edition),” released today by the global business consulting firm. The report finds that Asia has the highest mobile banking penetration—47 percent of survey respondents in South Korea said they had mobile interactions in the previous three months, the highest penetration in the survey—while survey respondents in the U.S. reported the highest frequency, averaging 4.9 mobile transactions in the previous three months."

2 for 1: Integrating Mobile Banking and Deposits
"Despite operating autonomously, the eight banks branded 'Simmons First' strive to present a common, customer-centric image across all interaction channels. 'It’s our intent to provide consistent, seamless information regardless of the channel or location,' explains Lisa Hunter, SVP of cash management and retail delivery for Simmons First National Corporation. 'Whether customers come into a branch, call us or use a self-service option, it’s important the experience be the same.'”

GoPayment: The Future of Mobile Banking
"It used to be that a bank was a building you visited to make deposits and withdrawals and perform other financial services. Nowadays, a bank is something you carry in your pocket. Anybody with a smartphone can make or take payments, check balances, transfer funds and even make deposits from almost any location and at any time."

Mobility, where are you headed?
"Mobility, as a concept, has captured the collective imagination of the tech savvy populace. CEOs and CTOs wax eloquent on their grandiose plans in this domain. A lot has been written about NFC device use, smart kiosks, mobile banking etc., projecting these as the next big thing in mobile and banking technology. However, I feel the ground reality is far removed from this. Every time I glance around in stores and malls, I notice that very few people use mobile banking. I initially wondered if this was unique to India, as we are not a very tech savvy people. On probing further, I have come to believe that it is a worldwide phenomenon, with even advanced countries yet to warm up to mobility. "

BBVA Compass adds bilingual app for mobile banking
"BBVA Compass is expanding its mobile banking outreach with the launch of a bilingual iPhone app. The new app will allow customers to access the bank’s mobile banking information in both Spanish and English. 'We currently serve a number of markets with a growing Spanish-speaking population, so we wanted to give those customers access in the language that is most comfortable to them,' says Alex Carriles, executive vice president and director of Mobile Strategy and Retail Innovation at BBVA Compass. 'We already operate as a fully bilingual bank in the U.S., and these additions will support that commitment.'”

Three ways to transfer funds through your mobile
"While fund transfer through mobile banking is not an entirely new concept, it hasn’t become a part of our banking needs the way online banking has. So what is it that stops you? One reason could be lack of awareness and another could be the perceived challenging technology which really is not so challenging. We give you three simple ways to transfer your funds through your mobile. Through these modes, you can transfer money to a person’s account, with or without the account details, and even pay utility and other bills."

Marketing Mobile Banking Can Double Average Adoption Rates, Shows Fiserv Analysis
"Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that an analysis of data from the Mobiliti™ mobile banking and payments solution revealed that marketing can significantly impact consumer adoption of mobile financial services. According to the analysis, which looked at data across hundreds of financial institutions, banks and credit unions, financial institutions that have actively marketed mobile banking have experienced an average adoption rate that is twice as high as financial institutions that have not promoted the service."

Thursday, December 13, 2012

International Mobile Banking Updates - Dec 13

Bank of Ireland upgrades mobile banking app
"Bank of Ireland is upgrading its mobile banking service with a facility enabling users to transfer funds to other customers of the bank, using only their mobile phone numbers. The new Pay to Mobile service is due to launch to its customers early in the New Year, but customers are being asked to register in advance."

How often do expats in Pakistan use their mobile or smartphone for mobile banking?
"We recently undertook an online poll amongst expats around the world to see how often they use their mobile phone or their smartphone for mobile banking. We were able to split down the results into the top nine countries around the world and Pakistan is in this group of countries. Even though mobile phones and the Internet are intrinsically linked there are a number of interesting factors with regards to the Pakistan mobile phone market which differ greatly from your average developed country."

New M-Pesa mobile banking service, M-Shwari, runs on TEMENOS T24
"Temenos (SIX: TEMN), the market leading provider of banking software, today announced that its award-winning banking application T24 is being used as the platform for M-Shwari, the latest iteration of the hugely successful M-Pesa mobile money offering. Launched in 2007, M-Pesa's basic mobile banking services have been a massive hit, attracting more than 17 million subscribers or more than 80% of the adult population in Kenya 1 . M-Shwari, which launched this week, takes the M-Pesa service to the next level, opening a broad range of banking services including interest bearing savings accounts and micro loans to M-Pesa subscribers."

Kenya: Mobile Money Fights Banks
"Nairobi — Mobile phone service providers in Kenya have taken the battle for banking services right at the door steps of traditional banking service providers. In what will definitely spur a rush for banking customers, Mobile service provider Safaricom Tuesday unveiled a service the will enable Kenyans to save money, borrow loans and even earn interest by use of mobile phone."

Wednesday, December 12, 2012

Mobile Banking Security - Dec 12

Major £30m cyberheist pulled off using MOBILE malware
"Cybercrooks swiped £30 million (€36m) from the banks accounts of 30,000 customers in Italy, Germany, Spain and Holland over the summer using an elaborate mobile banking fraud scam. The malware-based attack targeted both corporate and private banking users, performing automatic transfers that varied from €500€ to €250,000 to intermediary accounts controlled by members of the gang. The fraud used malware based on the infamous ZeuS cybercrime toolkit to target the PCs and mobile phones of banking customers."

How Secure is Mobile Banking
"Mobile banking is on the rise, with increasing numbers of financial institutions offering access to their services via mobile websites, apps and text messages. How secure these services are for users is an incredibly hard thing to quantify. Thankfully there have been no examples of mobile banking fraud on a global scale, and the fact that banks so far have provided mobile access with the same tight security measures as they have on their full desktop websites is encouraging."

Array Application Delivery Controllers Enable Anytime, Anywhere Mobile Banking Applications
"Array Networks Inc., a global leader in application mobility, security and performance, today announced that Axis Bank, one of the most trusted banks in India, has chosen Array’s APV2600 application delivery controllers to ensure the availability, security and reliability of its Axis Mobile mobile banking applications. Leveraging the latest in wirespeed encryption technology, APV Series application delivery controllers ensure high availability and scalability for the mobile application."

Hispanics Concerned with Security when Mobile Banking, Zpryme and ThinkNow Research Reports "Based on a recent survey by Zpryme and ThinkNow Research, the most cited (44.0%) reason why Hispanics do not turn to mobile banking is due to information security, while (21.0%) don’t have smartphone, cell phone, or tablet with internet access (16.0%) my mobile screen is too small, and (5.0%) internet connections take too long or don’t hold."

Tuesday, December 11, 2012

Mobile Banking Updates - Dec 11

Farmers and Merchants CIO Shares Mobile Banking Strategy
"After some fits and starts, Farmers & Merchants Bank (FMBL) is now plowing into mobility and imaging via the deployment of a series of mobile services and an upgrade to its ATMs. The Long Beach, Calif.-based institution was slow out of the gate; many banks have been offering mobile banking for some time. But it's making up for lost time. Basic mobile services such as transfers are on the menu, as well as new payments and tablet applications."

Mobility Matters: The Dark Side of Mobile Banking
"Time to take off the cheerleader outfit because the reality is that, in lots of ways, mobile banking continues to disappoint many credit unions and members. The bright potential to truly revolutionize how and where we consume financial services is there, but there also are many bits of gloomy news that suggest new, better ways of deploying mobile banking need to be found."

Welcome to the digital and mobile banking revolution
"As the telecom world announced major steps forward with the availability of 4G last month, the banking world is also set for change with mobile likely to overtake the desktop as the primary online mechanism in the next 5 years. Of course this is not solely down to the 4G revolution. For some customer groups and certain transactions, mobile is already the easiest way to access banking information online. This is driven by availability and convenience of mobile banking on smartphones. Within some customer segments ‘everyone’ has a smartphone and their bank details are easily accessible for quick and easy transactions. In this era, mobile will lead the way and is quicker and more convenient than the desktop."

Community Bank to Roll Out Standalone Mobile Pay App in '13
"Basic features such as checking account balances are to mobile banking apps what getting your teeth cleaned is to a dental appointment: Expected. But those consumer expectations will change. A community bank out of Boston, for one, is shaking up the mobile banking basics by readying a standalone mobile payments app that will let customers unlock exclusive deals."

Banking goes mobile
"As adoption of advanced mobile devices such as smartphones and tablets has exploded in recent years, consumers have grown more comfortable using phones and tablets to conduct all types of financial transactions. In response, banks have introduced applications that allow consumers to transfer money, purchase goods and complete other transactions."

Sunday, December 9, 2012

Mobile Banking Updates - Dec 9

Mobile Banking's Legal Dark Side
"Heard of Maxim Inc.? If you're a bank interested in developing mobile payments innovation, you should have, because the company claims it invented key technology that entitles it to a piece of the mobile payments pie."

Citizens Bank Mobile Banking Apps For iPhone®, Android™ Receive #1 Ranking For Customer Satisfaction
"Citizens Bank’s Mobile Banking apps for iPhone and Android have been named the “best integrated apps” in the industry by Javelin Strategy & Research following its review of customer ratings in the Apple App Store and in Google Play. Citizens Bank’s average customer rating of 4.25 out of 5 stars was the best in the industry, tied only by USAA, Javelin reported this week."

U.S. Payments Market: Mobile & Alternative Payments Analysis with A Business Case for Mobile Banking
"RnRMarketResearch.com adds "Mobile and Alternative Payments in the U.S., 3rd Edition" , "The Business Case for Mobile Banking" , "Mobile Banking and Payments" and "Alternative Payment Channels" reports to its store. With mobile taking over daily, dedicated personal space and time of people, banking and financial industry has the most exciting and equally challenging task on hand of offering mobile payments and mobile banking services with all security and personal touch of the non-mobile payments and banking experience to the end users."

Bank of America CEO's Desperate Mobile Banking Pitch
"Is Bank of America (BAC_) CEO Brian Moynihan really excited about mobile banking--or is that just the best he can do to try and change the conversation from lawsuits, fees and regulations? Inevitably, Moynihan was asked about fees during an appearance on CNBC Tuesday. The Wall Street Journal had reported on its front page Sunday that the bank was backing away from fees in a bid to get customers to hate the bank a bit less."

Research and Markets: Mobile Banking Gains 10 Million Users As Smartphone And Tablet Adoption Soars
"The ability to securely manage banking transactions, especially on smartphones and tablets, has become extremely appealing. Mobile banking gained 10 million new users in 2012 and currently reaches one-third of the mobile adult U.S. population. As smartphones outnumber feature phones and tablets surge, Android and Apple delivered and defined the market in 2012. Consumer adoption of mobile banking at small, medium, and giant institutions and credit unions varies by the quality of mobile services offered. This report contains an annual roundup of five-year forecasts for the U.S. consumer market for mobile banking adoption, mobile phone usage, smartphone adoption, smartphone adoption by operating system, tablet adoption, and tablet adoption by operating system."

For These 4 Banks, the Future Is Now
"For banks looking for innovative ways to serve customers without incurring costs to themselves, mobile banking is the perfect area in which to grow. Overall, banks have been somewhat slow to develop and promote these services. Here are four that are actively pushing mobile offerings, placing them ahead of their more sluggish competitors."

U.S. Bank Partners with Mitek for Mobile Photo Bill Pay; Will Launch to Consumers in Early 2013
"U.S. Bank, fifth-largest bank in the United States and lead bank of U.S. Bancorp (NYS: USB) , and Mitek Systems (NAS: MITK) , a leading mobile imaging software solutions provider and the pioneer of Mobile Deposit® technology, have entered into a strategic mobile technology partnership to offer Mitek's Mobile Photo Bill Pay™ product to U.S. Bank customers."

Javelin Research: It’s a Mobile World
"The newly issued 2012 Mobile Banking Financial Institution Scorecard: from Javelin Strategy & Research hammers home one point, loudly: Financial services have become a mobile world. Mobile banking now is used by 33% of mobile consumers, per Javelin, a jump from the 24% who used it in 2011. Of the top 25 financial institutions in the U.S., half now offer mobile person-to-person payments as well as mobile remote deposit capture, numbers that have “more than doubled” since the 2011 report."

Thursday, December 6, 2012

Mobile Banking Updates - Dec 6

Mobile Banking Adoption Grows
"Chase, Bank of America, and USAA are the top mobile banking providers equipped to deal with rising expectations from consumers, according to a new report from Javelin Strategy and Research. Javelin Strategy & Research’s latest report evaluates the 25 leading U.S. retail financial institutions (FIs) mobile banking offerings by comparing features, mobile access, app, Web and text banking, and mobile alerts."

LevelUp to Provide Mobile Payments at Louisville's KFC Yum! Center
"The KFC Yum! Center is the first sports arena to allow visitors to pay with their mobile phone at all hospitality and merchandise stands thanks to hospitality partner Centerplate, which announced that it has tapped LevelUp to provide the KFC Yum! Center's mobile payment experience at 200 merchandise and hospitality stands."

Applying Developing-Market Mobile Banking Models in the Developed World
"A U.S. federal report released in September found that 8.2 percent of households in the country are unbanked. That’s nearly 10 million households, and 17 million adults. Another 20.4 percent are underbanked—or 24 million households, and 51 million adults. Those numbers add up to more than a quarter of the population of the U.S. The percentage of both unbanked and underbanked has increased slightly since the last survey (conducted in 2009). Americans are also using alternative financial services more, including payday loans, check cashing, money orders, pawn shops, etc. Both increases are most likely due to the economic recession and resulting high unemployment rates."

Mobile banking and 'the real world' come together at the ATM
"With all the talk of 'the death of cash,' the trusty old ATM spitting out cash isn't going anywhere anytime soon. But financial services companies are exploring ways to more closely connect smartphones and apps with the ATM, seeing the ubiquitous cash machine as way to link mobile banking and payments to the 'real world.' One way ATM manufacturers are looking at the connection is by offering mobile 'prestaging' of cash withdrawals at the ATM."

New Boston Fed Report on Mobile Payments Technology
"The Federal Reserve Bank of Boston has released a new report entitled, "Mobile Phone Technology: 'Smarter' Than We Thought"."

Tuesday, December 4, 2012

International Mobile Banking Updates - Dec 4

Indian banks flip the switch on unified mobile banking platform
"India's push to provide access to financial services through mobile means took another step forward when Shri P. Chidambaram, India's Finance Minister, recently announced the launch of a National Unified USSD Platform by India's National Payment Corporation. The NUUP allows the millions of Indians who lack access to physical banking locations use a single SMS texting number to access services across all banks, regardless of wireless service provider, mobile handset maker or region."

Safaricom opens M-Pesa mobile banking service
"Safaricom is to begin offering M-Pesa customers a new mobile banking service, offering interest-bearing deposit accounts and loans. The telco has partnered with Kenay's largest commercial bank, CBA, to create the account, dubbed M-Shwari, which can be activated on deposits as low as one shilling. Safaricom CEO Bob Colllymore says M-Shwari will have no ledger fees, no limits on the frequency of withdrawals, no minimum operating balance and no charges on deposits for M-Pesa to M-Shwari accounts."

CBA responds to mobile banking demand
"In response to customer demand for a simple, personalised and mobile banking experience, Commonwealth Bank (CBA) will be launching Kaching for Facebook, a redesigned Kaching for Android App and new sharing and tagging capability in NetBank. For the first time in Australia, CommBank will launch SmartSign technology that will allow Asset Finance customers to execute loan documents electronically from anywhere in the world."

Mobile banking in South Africa: Can MTN crack the market second time around?
"The network has partnered with the South African Bank of Athens as well as retailers Pick n Pay and Boxer Stores to introduce Mobile Money, it announced last week. Mobile Money is operated by TYME, a distribution channel of the South African Bank of Athens. The service allows customers to make payments from their mobile phones, including person-to-person money transfers as well as purchase prepaid electricity and airtime vouchers."

Banking services in your palm, just dial *99# from any handset
"Checking your bank balances or placing a request for a cheque book has been made as simple and hassle-free as dialling *99# from your mobile. Just dial *99# from your mobile of any make, every banking service, be it fund transfer or checking balances, comes at platter. Formally rolled out by Finance Minister P Chidambaram last Saturday at the national banking conference in Pune, as part of the government's financial inclusion programme, the service, one of the unique empowerment initiatives, is being facilitated by National Payment Corporation of India (NPCI)."

Mobile Banking SA Conference to address untapped opportunities outside the formal banking sector
"Developing simple, user-friendly mobile banking services with low-technology orientated solutions opens a world of opportunities for financial institutions who swiftly role out mobile banking offerings to the informal banking sector. The Mobile Banking Southern Africa Conference to take place on the 13 & 14 March 2013, at the Emperors Palace, Johannesburg, will focus on why financial institutions cannot afford to lag behind with development of mobile banking products that service over 27% of South Africans that are unbanked and the 10% that are under-banked."

Mobile banking trend sparks fear of new fees
"Small businesses are worried that so-called mobile wallets will give banks and credit card companies a new way to gouge them and consumers both. A task force recommended nearly a year ago that Ottawa introduce legislation to give Canadians and businesses better tools to make payments digitally. But a committee set up by the Finance Department to further study the issue has been told businesses worry they’ll be hit with new fees as consumers adopt payment systems designed for their mobile devices."

Sunday, December 2, 2012

Mobile Banking Updates - Dec 2

Banks Cling to iPhone as Consumers Take to Android
"Steve Jobs would be pleased. The thing that strikes you most when looking at Javelin's latest research on mobile banking and talking to its author, Mary Monahan, is the devotion banks still have to Apple's iPhone, even as Android devices lead in consumer market share, as they did last year. According to Javelin Strategy & Research's latest consumer survey (the group polled 3,000 consumers this quarter), Google's Android smartphones and tablets now claim 48% of the U.S mobile market, up from 34% last year. Apple's mobile device market share is 32% this year, up from 27% last year. (RIM dropped from 25% last year to 12% this year; Windows Mobile dropped from 13% to 8%.)"

Wells Fargo Expands Mobile Deposit Service Nationwide, Increasing Anytime, Anywhere Banking Convenience for Customers
"In a move to deliver innovation and added convenience in the rapidly growing mobile banking space, Wells Fargo & Company (NYSE:WFC) today announced the nationwide expansion of Wells Fargo Mobile® Deposit. Using an Android or iPhone device, customers across the nation can easily deposit checks into their eligible Wells Fargo accounts by taking pictures of the front and back of the check."

Spike Mobile Deposit Adoption Rates With Free $5 Demo Checks 
"Old habits die hard. If you want people to try a new technology like mobile remote deposits, it may take cash bribes. Numerica Credit Union paid members $5 each to do just that. To teach people how easy it is to deposit checks using a smart phone, the credit union gave $5 checks away to those participating in live demonstrations."

How often do US expats use their mobile or smartphone for mobile banking?
"The world of the Internet and the world of mobile/smartphones are intrinsically linked and when you bear in mind the number of people who have access to a mobile phone on a constant basis this is perhaps the most powerful communication tool we have ever seen. As a consequence, many of the everyday services which are used to have now been transferred to the mobile Internet arena but is mobile banking as easy to transfer as general Internet use?"