"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" 

Thursday, November 29, 2012

Mobile Banking Updates - Nov 29

Giving Community Bank Customers What They Deserve
"What do community bank customers want? It’s simple. In addition to the close, personal connection that’s so uniquely characteristic of community banks, they want the same thing consumers who bank at large, national financial institutions want – the next big thing. Whether it’s online banking, mobile banking or emerging digital payments, consumers expect their bank to offer the latest and greatest capability. The good news for community banks is that they can now deliver those solutions. The outdated assumption that community bank customers must choose high-touch service over high-tech capabilities overlooks the tools and technology now available to every banker."

 Malauzai Introduces Picture Pay Mobile Payment Solution
"Malauzai Software Inc., a leading provider of mobile banking SmartApps for community financial institutions, has launched Picture Pay™, a standalone mobile payment solution that enables users to complete payments via the camera on their mobile device. The new functionality is in use by $4.3 billion Abilene, Texas-based First Financial Bankshares, Inc. (NASDAQ-FFIN). “A surprising number of people do not use Internet banking bill pay because of the time it takes to set up billers” Picture Pay™, developed in conjunction with Fort Wayne, Ind.-based Allied Payment Network, allows users to complete a payment in three simple steps: take a photo of the bill statement, confirm the amount to be paid and submit the payment to the financial institution."

Global Mobile Consumer Survey shows increase in mobile banking
"MEF, the global community for mobile content and commerce announced the results of its annual Global Consumer Survey, carried out in partnership with On Device Research that reveals the behaviour of mobile media users from across the world, giving data and intelligence into mobile engagement and purchasing habits."

Mobile Banking: An Overview of Apps at 15 Banks and Credit Unions
"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."

Mobile banking: who do you trust with your finances?
"As experts in digital marketing, I am sure you were all aware that Thursday 8 November was World Usability Day -a world wide event celebrating the importance of in usability in the digital world. This year’s theme was financial services and few would argue that usability was anything other than vital in this market. My colleagues at System Concepts contributed a video of interviews with potential customers and some key players in the mobile financial market in which the two mobile financial services providers interviewed were Vodafone and O2. This set me thinking: Do we trust mobile companies to give us banking, more than we trust banks to give us mobile services?"

Tuesday, November 27, 2012

International Mobile Banking Updates - Nov 27

Consumers in developed economies are behind in mobile banking adoption.
"Developed, Western markets are playing catchup with the rest of the world when it comes to adoption of mobile banking, with countries such as Germany and Italy recording rates well below the global average. Mobile banking brings advantages in terms of engagement and service differentiation, and banks in these countries are missing out on this opportunity."

Airtel expands Mobile Banking to capture 50% of customers
"Airtel Ghana says it is further expanding its Mobile Money platform, particularly the Mobile Banking portfolio to give existing and prospective customers a wider range of usage opportunities aimed at capturing at least 50% of customers onto Airtel Money."

Nigeria: Sanusi - Value of Mobile Banking Transactions Rises to N4 Billion
"The Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, has disclosed that the value of transactions through mobile banking has increased significantly to N4 billion monthly, compared to the N20 million it was beginning of the year. Sanusi said this in an interview with journalists at the sideline of a forum organised by the Enhancing Financial Innovation & Access (EFInA) in Lagos Thursday."

HSBCnet Mobile users authorise USD6 billion of payments
"A little over a year since its launch, HSBC’s corporate mobile banking service has been used to authorise USD6 billion worth of payments worldwide, including a single payment of USD50m. HSBCnet Mobile enables corporate treasurers to check account balances and statements, authorise payment instructions (including priority payments, payments in the Eurozone, inter-account transfers, bill payments and ACH credits/debits) and receive payment alerts using smartphones. In addition, users can authorise cross-border payments with ‘Get Rate’, which allows customers to view and instantly book foreign exchange rates when making foreign currency payments."

As mobile banking grows, Zong, Askari Bank join the race
"The State Bank of Pakistan (SBP), according to sources in Zong, issued branchless banking licence to Zong and Askari Bank last Friday after auditing their pilot project, launched in May this year. This is the second branchless banking license issued by the SBP this month – the central bank had awarded a mobile financial services licence to Mobilink’s sister concern Waseela Bank."

Connected world: mobile commerce reaches tipping point
"Around half of the world’s mobile owners are ready to use their phone to make purchases and manage money – but mobile finance players must tailor their strategies to the conditions of each market to take full advantage. Use of mobile banking and mobile wallet services is set to surge worldwide as consumers respond to the promise of convenience, and look past security concerns. The Mobile Life 2012 study reveals that 50% of the world’s phone owners are either interested in mobile banking services or using them already, whilst 45 percent show the same level of enthusiasm for making payments using their phone."

Service charge on mobile banking halved
"The telecom regulator has halved the charges on mobile banking aiming at quick expansion of the service across the country. The Bangladesh Telecommunication Regulatory Commission (BTRC) in a circular issued on Tuesday slashed the charge to 1.0 per cent from the existing 2.0 per cent, which will come into effect from December 1."

MTN, Pick n Pay in banking tie-up
"MTN and Pick n Pay are poised to launch a mobile bank. Called Tyme, which stands for “take your money everywhere”, the venture will piggyback on the banking licence held by Bank of Athens. Tyme hopes to make mobile money transfers and mobile banking commonplace in South Africa, where consumers have to date failed to embrace similar offerings en masse."

The history of online and mobile banking in Ireland … so far (infographic)
"Online and mobile banking will be used by 83pc of Irish adults by 2015, according to an infographic produced by Danske Bank to coincide with the launch of Ireland’s first iPad banking app. Did you know there are 3.2m users of online banking in Ireland and that six out of 10 smartphone owners use mobile banking? According to the infographic, remote banking has come a long way since the first mobile network was launched in Ireland in 1987."

Sanusi: Value of Mobile Banking Transactions Rises to N4bn
"The Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, has disclosed that the value of transactions through mobile banking has increased significantly to N4 billion monthly, compared to the N20 million it was beginning of the year. Sanusi said this in an interview with journalists at the sideline of a forum organised by the Enhancing Financial Innovation & Access (EFInA) in Lagos Thursday."

Corporation Bank allows mobile banking facilities via Tablet PCs, iPads
"The public sector bank, Corporation Bank, has started providing its customers the facility to carry out banking transactions through tablet PCs and iPads. This latest development of the bank in the digital banking space was announced by the Chairman and Managing Director of the bank, Mr. Ajai Kumar."

Mobile banking set for sharp rise
"A study in 2011 has revealed that mobile banking constitutes 0.1 per cent of total banking transactions. It is the second largest transaction medium after ATM, said Ajai Kumar, chairman and managing director of Corporation Bank here on Thursday. He was addressing the students at the TA Pai endowment lecture programme with the theme " Digital Banking." The programme was organised by Mangalore University."

Monday, November 26, 2012

Mobile Banking Updates - Nov 26

2012 Mobile Banking Market Assessment
"In new research, 2012 Mobile Banking Market Assessment, Mercator Advisory Group explores how retail financial institutions can increase interaction with customers and members to include 24x7, anytime anywhere service, and also expand their reach beyond simple demand deposit account transactions."

IALING FOR DOLLARS: Mobile banking becomes the norm
"As consumers demand more convenient access to financial accounts on the go, banks have adjusted by offering mobile banking and even creating apps for ease of use on smart phones. Mobile banking is dramatically changing the way consumers bank, with features such as person-to-person payments to help friends split the check at dinner and remote deposit capture, so customers can deposit checks without going to a branch."

Ally Bank Launches Next Phase of Mobile Banking
"Ally Bank's suite of customer-centric products and features expands this month to include the second generation of Ally Mobile Banking apps—featuring customers' most-requested capabilities—including Ally eCheck DepositSM, Bill Pay, and fund transfers to and from external banking institutions."

Banking on mobile: security threats, realities and fictions
"For businesses within the financial services sector not all-consumed by RDR and auto-enrolment issues, attention may again be turning to the threats, risks and uncertainties associated with mobile banking and other trends and developments in financial services technology. While the Australian bank Westpac has suggested that "the take-up of mobile banking is much faster than any previous technological innovation in banking," and indicated, according to reports, that it "processes three times more transactions made digitally, compared to transactions made in person," security providers in other parts of the world are stressing the heightened level of intrusion into mobile environments that have occurred during the third quarter of 2012."

BBVA Compass Expands Its Mobile Banking Apps To Include Kindle Fire™ And Windows Phone™
"BBVA Compass today expanded its growing stable of mobile banking apps with the launch of native applications for the Windows Phone platform and Kindle Fire tablet. The bank remains committed to providing native applications for the most popular mobile platforms, allowing users to enjoy a mobile banking experience that is consistent with their chosen devices. BBVA Compass currently provides mobile banking apps for iPhone® and iPad® mobile digital devices, BlackBerry® devices and the Android™ mobile digital platform."

Dickinson Financial Corporation Launches Robust, Multi-Brand Mobile Banking with Mobiliti from Fiserv
"Fiserv, Inc. (NAS: FISV) , a leading global provider of financial services technology solutions, announced today that Dickinson Financial Corporation ("Dickinson"), a $2.1 billion bank holding company based in Kansas City, Mo., has launched mobile banking and bill payment capabilities using Mobiliti™ from Fiserv. Dickinson is utilizing multi-tenancy deployment, supporting six distinct retail banking brands with a single underlying mobile platform. This approach is enabling the company to deliver robust capabilities while realizing operational and product management efficiencies."

Thursday, November 22, 2012

International Mobile Banking Updates - Nov 22

Rwanda: Mobile Banking Changes the Way We Do Business
"It was just a matter of seconds before Giovanni Higiro finished paying his fares to a motorcyclist, without touching his wallet. As if they were exchanging numbers, Higiro was able to pay Claude Habineza by transferring money from his mobile phone Mobile Money account to the motorcyclist's electronic wallet. Like Higiro, many people are now enjoying the new mobile banking products that now allow one to pay their bills and buy goods using their mobile phones. One can make payments of as little as Rwf100."

Ethiopia Permits Mobile Banking and Money Services
"Ethiopia is one of the last countries in Africa to permit mobile banking. Mobile banking has proved to be profitable in the developing world, where many people still do not use banks. Earlier this year, the World Bank reported that seventy-five percent of the world’s poor are “unbanked.” That is about two point five billion people. Banking through mobile telephones lets people take part in financial services even if they are not near a bank office."

Evolution of mobile payment
"Mobile phones have been a rapidly evolving channel for various payment systems, some bank-led and some agnostic of banks involving mobile operators. According to annual report by the Reserve Bank of India (RBI) on payment system trends in 2011-12, transactions pertaining to prepaid instruments (PPIs) to the tune of Rs 6,200 crore took place during 2011-12, and in the same period, mobile banking transactions to the tune of around Rs 1,820 crore were effected. These were outside of the national electronic clearing system that primarily covers internet-based funds transfer."

MTN Mobile Banking Ready to go Commercial
"MTN Ghana says it has been piloting Mobile Banking on its Mobile Money platform for a while now and it is now ready to go commercial with it. Head of MTN Mobile Money, Eli Hini told Adom News the service has been available to Fidelity Bank customers, and allowed users to move money from their mobile wallet into their bank account, and vice-a-versa; allow checking of bank balance, accessing mini statements and also allows cardless withdrawal of cash from some of Fidelity Bank’s ATMs."

Tuesday, November 20, 2012

Mobile Banking Security - Nov 20

Smart Phone Malware Risk Rises
"Mobile malware is exploding at a time when financial institutions are increasing their mobile banking offerings and consumers are making broader use of smart phones and tablets. A recent study from software and security firm Trend Micro finds that mobile malware attacks hit record numbers in the third quarter, with Android devices as the primary targets."

The Dangers of Mobile Banking
"Advertising for mobile banking has become as popular as traditional banking commercials. Customers like local makeup artist Alisha Cooper are increasingly going mobile these days and for good reasons. 'I travel as a licensed makeup artist and so I do work in North Carolina sometimes in Arizona, Atlanta different places, so for me not carrying a machine, I have to have my cell phone,' says Cooper."

BBB's 6 Tips For Safe Mobile Banking
"Banks have been promoting the use of mobile phones and other devices for banking for several years now, but what happens if you lose your phone? Can a thief empty your bank account by tapping a smartphone against yours? With mobile banking one of the fastest-growing trends in the financial sector, the Better Business Bureau (BBB) advises consumers to take precautions to keep their money safe, including installing antivirus software on phones. Users should take many of the same precautions they would when banking online with a personal computer."

Mobile Security Revenue for Banks?
"Increased interest in mobile wallets and growing smart phone use are paving the way for more mobile payments, and now is the time for banking institutions to identify what role they'll play in this emerging space. Javelin analyst Alphonse Pascual, who focuses on financial fraud and security, says institutions can't ignore mobile payments, despite the somewhat peripheral role they play. Banks and credit unions that sit by the sidelines will miss out on revenue-generating opportunities, he says."

How Secure Is Mobile Banking?
"Whether you’re paying for that latte with Google Wallet or simply checking your balances, mobile banking is the wave of the future. And with an estimated 30 million people using some form of mobile banking, it’s very much the present, too. With advantages like being able to check balances, depositing checks via text message, monitoring investments, paying for goods and much more — all whenever you like, wherever you are and on a diversity of platforms — this shouldn’t really come as a surprise."

Sunday, November 18, 2012

Mobile Banking Updates - Nov 18

PayAnywhere jumps into mobile-payment ring
"Square is on a roll, and PayPal's triangular device is gaining momentum. But a new national mobile-payment service thinks it has enough game to disrupt the fledgling market. In the past year, Detroit-based PayAnywhere has quietly amassed a formidable retail network — Walmart, Home Depot, Amazon, OfficeMax, Sam's Club, Sears and Kmart are among its partners — to sell its $9.95 mobile credit card readers to business merchants."

Bank of America, First Data unveil mobile credit-card processor
"A joint venture between Bank of America and Atlanta payment processor First Data is jumping into the game of turning smart phones and tablets into cashless pay stations. Atlanta-based Bank of America Merchant Services unveiled on Tuesday its Mobile Pay on Demand card readers and mobile applications, becoming the latest challenger in a crowded new niche for processing credit and debit cards for smaller businesses that want to be more mobile or ones that are new to electronic payments."

Visa Moves Banks To The Virtual Wallet
"Earlier this year we forecasted the need for big financial institutions to enter e-commerce as the credit card industry matures. Several tech companies had already entered into e-commerce as a challenge to traditional banking. Visa’s (V) mobile payment program, V.me, recently exited out of beta testing and has announced the cooperation of over 50 banks and credit unions with the service. V.me largely resembles Paypal (owned by eBay) by getting rid of the need to enter all those numbers on your credit card when you buy online. The program is entering an increasingly saturated “m-commerce market” that includes products from the Square, Mastercard (MA), Google (GOOG), eBay (EBAY), and American Express (AXP)."

Bank of America Mobilizes Merchants
"When it comes to mobile banking services, Bank of America has outrun its peers every time. While JPMorgan Chase, Wells Fargo, and Citigroup all offer a varied palette of mobile options, B of A consistently offers the most -- and updates these offerings regularly. Having excelled in the customer mobile offerings department, the bank is now moving into the retailer arena, offering a new way for merchants to turn their smartphones and tablets into roaming payment terminals. Though not a new idea, the dongle-based payment system will put B of A in the same space as payment giant Square, and tech biggie Apple."

Has Square Already Won America's Mobile Payments Race?
"Back in January 2011, Starbucks became the first national retailer to offer its own mobile payment technology combined with a loyalty program. It led to more than 100 million mobile transactions occurring in its U.S. stores since the launch. Now, in a move to push mobile commerce even further, Starbucks is accepting payments in some 7,000 retail locations via Square, Twitter co-founder Jack Dorsey's mobile payment app for iOS and Android smartphones."

Mobile Banking – More Than Everyday Transactions
"You may have noticed that much of the recent industry news around mobile banking has focused on everyday banking transactions. The message we’re seemingly inundated with is that online banking is only the first step, and that truly anywhere/anytime processing of everyday transactions like balance statements, transfers, as well as credit, payment and cheque processing can more easily be accomplished with mobile banking. What’s been missing from the story, though, is mobile banking’s significance to high-value transactions, like mortgage openings and those accompanying investment and wealth management."

Thursday, November 15, 2012

Mobile Banking Updates - Nov 15

Keynote Mobile Banking Scorecard Reveals Top Retail Banks Fast Adopting Mobile Strategies
"Keynote® Systems (NAS: KEYN), the global leader in mobile and web cloud testing and monitoring, today announced the results of the Fall 2012 edition of the Keynote Mobile Banking Scorecard, first launched in 2011 and the standard in benchmarking consumer mobile banking offerings. Chase Bank achieved its second consecutive win for Overall Score, while second place went to Wells Fargo and third place to Bank of America. Leaders for individual modes include BB&T for Text banking, Wells Fargo for Mobile Web, Chase for iPhone and BlackBerry App banking and Bank of America for its Android App. Looking across the five modes, the Scorecard found Chase offers the best overall Functionality and Ease of Use while Wells Fargo leads in Privacy & Security and Quality & Availability."

Everything significant we are working on is around mobile?
"Eric Schmidt, executive chairman of Google, famously said that “everything significant we are working on is around mobile,” reflecting the current core focus on mobile in the technology industry – something mirrored throughout financial services and retail. Schmidt’s quote also highlights the multitude of different mobile offerings currently on the market, and the fact that the largest companies are already choosing to keep several irons in the fire. At a recent Digital Banking Club event, this led the room to the question – should banking strategy now be mobile led?"

Mobile Banking and Payments Study: Multi-Device Mobile Support Becomes Ubiquitous; Rewards and Payments Grow
"First Annapolis Consulting’s third annual Mobile Banking and Payments Study reveals that 81 of the top 100 U.S. financial institutions currently offer some form of mobile banking, an 11% increase over the same figure one year ago. In addition to offering access through smartphone applications and the mobile web, 60 of the FIs offer some form of alerts or account management functionality via SMS (text message), and 26 banks have also launched an application optimized for tablets. This data highlights the omni-channel approach financial institutions are pursuing as mobile banking services become more widely accepted by customers."

This Exec Has An Outrageous Plan To Make SAP Bigger In Mobile Than Apple
"SAP, the enterprise software company, has a crazy ambition. It wants to get a billion people using its software by 2015. That's about double the footprint the company has now—and a lofty goal for a company that, despite its reach into the innards of businesses, is hardly a household name. The plan largely rests in the hands of Sanjay Poonen, who heads the company's mobile division and is also responsible for its analytics, database, and technology products."

Tech Companies Start Creating Windows 8 Mobile Banking Apps
"On the heels of Windows 8 officially hitting the market, financial services technology vendors have begun supporting Microsoft’s (MSFT) overhauled operating system for laptops, desktops and tablets. Harland Financial Solutions and Kony Solutions are among the first to create mobile banking apps for this platform."

80% of Consumers Deem Mobile Banking Important: Survey
"It’s a mobile world, and more and more consumers are hoping to use their devices to take care of their banking business. Indeed, new research shows that 80% of those surveyed say mobile banking is important. The survey of 200 consumers, published by Verve Mobile, a U.S. mobile advertising company specializing in location-powered solutions, also shared some insights on the most commonly used location services related to mobile banking, including an ATM locator by current location (51%), branch locator (19%), ATM by zip code (19%) and branches filtered by services (12%)."

Social Banking: When Financial Innovation Helps the 99 Percent
"For the world’s 2.5 billion people living on less than $2 a day, 80% of whom do not have access to a formal bank account, savings may seem like a foreign concept. Yet, in the book, Portfolios of the Poor: How the World’s Poor Live on $2 a Day, the authors reveal that, despite limited formal options, lower-income populations do engage regularly in savings behavior — from informal networks and family ties to sophisticated savings clubs."

Wednesday, November 14, 2012

Mobile Banking Security - Nov 14

Tackling the Top Mobile Risks
"The two greatest threats facing mobile banking today come from the risky behavior of mobile users, and their download of third-party applications. And while banks and credit unions have little control over users and third-party apps, mobile expert Tom Wills says institutions can take steps to mitigate their risks. Among his top recommendations: mobile transaction limits, enhanced authentication, device fingerprinting and fraud analytics."

New Blackhole Targets Mobile Banking Services
"According to a report published by antivirus software developer AVG, there is a significant growth in malicious software and malicious ads with hidden malware behind images posed on social media. The report revealed details about the newly released 2.0 version of Blackhole Exploit Toolkit that targets mobile banking services."

Mobile banking is not for the unwary
"Mobile banking is fast becoming a reality as European smartphone penetration continues to rise. Operators are also keen to exploit the service in the hope that it will reduce churn and provide them with some additional revenue. Of note, Deutsche Telekom CEO Rene Obermann recently confirmed that the company is actively looking at m-banking, while its rival Vodafone is pushing ahead with the expansion of its M-Pesa service, and has also recently announced a partnership to launch M-Pesa in India with the giant Icici Bank."

How Secure is Mobile Banking?
"The Internet continues to become mobile, meaning in the future even more consumers will use their smartphones and tablets for online banking. Most banks have already rolled out mobile apps and are encouraging customers to use them. But how secure are they? A new report from Reportlinker.com suggests mobile banking is fairly secure for now. Its Mobile Banking Security Insight Report suggests the financial services industry will continue to benefit from the immediacy that smart mobile devices (SMDs) offer but there are significant risks that must be counteracted before consumers are confident in accepting them."

Tuesday, November 13, 2012

International Mobile Banking Updates - Nov 13

Mobile banking expands to include microfinance
"Mobile banking in the Philippines is expanding into microfinance to serve the lower-income market outside of the country’s major urban centers. Tricia Dizon, head of financial services at Smart Communications, said in a statement the telecommunications giant was helping launch mBank Philippines."

Mobilink to launch mobile financial services
"Mobilink is all set to enter the mobile banking segment as Waseela Bank – sister concern of Pakistan’s largest cellular operator – has obtained central bank’s approval to launch Mobile Financial Services (MFS) in Pakistan, sources familiar with the matter said and the company’s spokesperson also confirmed on Tuesday. A subsidy of Orascom Telecom – Mobilink’s parent company – Waseela Bank is said to launch its MFS operations by December this year; the State Bank of Pakistan (SBP) issued the licence on Monday, according to sources."

Leading Pakistan Mobile Banking Provider Uses IBM Cloud
"The FINANCIAL -- IBM announced that Monet, one of Pakistan’s leading mobile-commerce providers, has selected a customized IBM cloud-based solution that will enable the company to enhance service efficiency and expand its presence across the country. Launched in 2012, Monet provides banks, mobile network operators and branchless banking agents in Pakistan with a technology platform that offers end-users a simple interface through which they can access a wide range of financial services on their mobile phones."

Mobile banking to overtake online
"More people will be banking on their mobile phones and tablets than online within five years, Westpac group executive, retail and business banking, Jason Yetton says. Mr Yetton said the explosive growth in mobile banking over the past two years, with more than 1.58 million Westpac customers using their devices for transactions, will accelerate. Westpac estimates that the number of payments made across its digital platforms will exceed one billion transactions within five years, with a total value of $6.8 trillion."

Good banking apps can make consumers jump ship: ANZ Bank
"The quality of a banking app can have the power to make consumers switch banks, according to ANZ Bank's Group General Manager for Innovation Peter Dalton. All the major Australian banks have poured money into customer-facing mobile application development as smartphone and tablet penetration continues to soar. Around one in 10 ANZ Bank customers do their banking exclusively on their mobile devices. Its competitors are all going through similar growth in mobile banking, with Westpac boasting 1.58 million customers engaging the bank through mobile devices."

Federal Bank rolls out mobile fund transfer facility to merchants
"Federal Bank has launched a funds transfer facility to merchants and enterprises through mobile phone. The Kochi-based private sector lender’s IMPS-Merchant Payment Service, in association with National Payment Corporation of India, will enable customers to use their mobile phones to access bank accounts and transfer funds."

PC Financial to launch a mobile banking app “in the upcoming months”
"While some Canadian banking institutions are already plugging away at mobile payments, PC Financial is wrestling with launching a mobile app. The Loblaws driven financial service, provided by CIBC, has approximately 2.3 million customers and some people have been requesting an app for months. Having a mobile banking app is basically standard these days. Offering simple features like checking account status, transfer funds, find ATM’s or contacting the closest branch makes the banking experience a more pleasant one."

Going mobile
"First National Bank customers are now able to track their spending habits, check their balance and make electronic bill payments from their smartphones. FNB has created an enhanced Online Banking System and also introduced Mobile Banking. 'For generations, personal service has been the signature of The First National Bank of Brundidge,' said John Ramage, senior vice president of FNB."

Use of Mobile Banking Continues to Grow: Canadian Bankers Association
"The Canadian Bankers Association (CBA) today released the results of its latest study on How Canadians Bank, which explores the role that modern technologies are playing in consumer banking. The results reveal that Canadians continue to embrace new approaches to banking and see these innovations as adding value to their daily banking. Going forward, the research suggests change will continue, driven by the convenience of the Internet, and led by younger generations who tend to be the first adapters."

Mobile Phones Empowering the Rural Poor through Mobile Banking
"Mobile phones are as numerous in Rwanda as the beautiful panoramic views of its famous 'Thousand Hills'. This was all the more confirmed as Vestine Nyirabagande, Urwego Opportunity Bank’s (UOB) client, sat with a mobile phone on her lap. She laughed when asked how many of her neighbors have mobile phones. 'I don’t think there is anyone in this area who doesn’t have a mobile phone!' she said."

St George customers getting smarter and smarter with their banking
"The St George Bank says it is seeing an “unprecedented demand” from its customers wanting to do as much of their banking as possible on their smartphones, and that more than 60,000 of its 400,000 mobile banking customers are already only using their smartphone to do their banking."

Sunday, November 11, 2012

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."

Thursday, November 8, 2012

Mobile Banking Security - Nov 8

M-Banking Security Insightfully Reviewed in New Goode Intelligence Report Now Available at MarketPublishers.com
"The mobile banking channel has the potential to be more secure than traditional online banking. With the rapid adoption of smartphone devices and tablet PCs, nearly all types of organizations are currently busy with producing their own apps for customers to download, with banks being no exception. They also continue to launch applications for customers to freely conduct the same scope of transactions they would have previously performed online from a personal computer (PC). It is predicted that close to 20% of Americans will be doing mobile banking by the end of 2015."

More mobile banking protection
"A major cellphone provider is working to help reduce your concerns about the safety of mobile banking. T-Mobile announced it will begin automatically installing Lookout antivirus software on the majority of its Android devices in 2013. For anyone who manages their personal finances with mobile apps, this kind of automatic protection can provide an important layer of safety for passwords, account numbers and other sensitive information. The software will scan each downloaded app to verify it doesn't include any harmful components."

Wednesday, November 7, 2012

Mobile Banking Updates - Nov 7

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."

81% of largest financial institutions provide mobile banking services
"A report recently released by US-based management consulting firm, First Annapolis, has revealed that 81% of the largest financial institutions in the United States provide some form of mobile banking services. This demonstrates an 11% increase from last year. The report, entitled “2012 Mobile Banking and Payments Study”, found that 60% of the financial institutions provide some form of alert or accounts management functionality via text message (SMS), and 26% have also launched an application for tablets."

Why you can bank on mobile banking
"Several banking activities today can be carried out at the tap of the keys on your mobile phone. But for the uninitiated, the multiple ways of using the mobile phone for banking purposes can be difficult to decipher. Is SMS banking synonymous with receiving alerts for transactions? What is the advantage of using a mobile banking application on your phone over other mobile-based banking services? Is an IMPS transfer different from an NEFT transfer? Here's a low down on the services, their suitability and the costs involved."

Tuesday, November 6, 2012

International Mobile Banking Updates - Nov 6

International Business Machines Corp. : Leading Pakistan Mobile Banking Provider Uses IBM Cloud to Expand Delivery of Secure Financial Services on Mobile Phones
"IBM (NYSE: IBM) today announced that Monet, one of Pakistan's leading mobile-commerce providers, has selected a customized IBM cloud-based solution that will enable the company to enhance service efficiency and expand its presence across the country. Launched in 2012, Monet provides banks, mobile network operators and branchless banking agents in Pakistan with a technology platform that offers end-users a simple interface through which they can access a wide range of financial services on their mobile phones."

Surviscor Names CIBC as the Top Firm for Mobile Banking Services in Canada
"Canadians are relying more and more on mobile devices to access banking services, and CIBC is leading the charge according to Surviscor Inc. Among the big six banks in Canada, CIBC ranked #1 in Surviscor's inaugural Mobile Banking scorCard(TM), a comprehensive and objective assessment of features and functionality in the fastest growing delivery channel for e-banking. CIBC was closely followed by Scotiabank in second place, with National Bank rounding out the top three."

Fiserv helps Cambodian bank offer mobile banking, payments to unbanked
"Financial services tech provider Fiserv Inc. is helping Cambodia's ACLEDA Bank Plc. to extend its mobile banking and payments service to the unbanked using Fiserv's Mobiliti Reach tool. Fiserv said ACLEDA has offered Fiserv-supported mobile financial services to since 2010 but will now offer those services to consumers with no existing banking relationship of any kind."

Canadians are Slowly but Surely Becoming Comfortable with Mobile Banking, Study Suggests
"Smartphone ownership and mobile banking usage continue to rise in Canada, according to a new poll conducted by Harris/Decima for CIBC, who is Rogers' partner for Suretap, a mobile payments service. At least 44% of Canadians now own a smarthone, the study suggests, up significantly from 33% in 2011. Among those aged 18 to 24, 77% own one."

Call to regulate mobile phone banking
"THE government should come up with legislation to regulate mobile banking activities in the country to prevent service providers from abusing the system, a senior banking official has said. Since the adoption of multiple foreign currencies in 2009, Zimbabwe has witnessed a proliferation of mobile banking systems modelled on the one used in Kenya called M-PESA."

Standard Bank skips along beaten digital path
"Standard Bank says its mobile banking application has achieved 160,000 downloads since its launch four months ago. This activity, the bank says, translates into R1.3 billion transactions through this channel since it launched on 27 June 2012. It also announced that its banking app, which is available on iOS, Android, and BlackBerry, would also be the first SA banking app in the Windows 8 app store."

Survey reveals only 1 in 4 expats using mobile banking services abroad
"A recent survey conducted by ExpatForum.com in conjunction with Barclays International showed that most expats “never use” mobile banking tools, despite holding several bank accounts in different countries. The study polled 10,000 expats to find out how they manage their finances while working abroad. Of the respondents, 73% said they “never” accessed their bank accounts from a smartphone or tablet device, 17% reported that they “occasionally” used mobile banking platforms, and “10%” “frequently” checked bank accounts while on the go."

Metaforic to Demonstrate Mobile Software Security at FinovateAsia
"Metaforic, the innovative software security company, today announced that it will demonstrate its latest technology at FinovateAsia on November 6. The demonstration will showcase Metaforic’s ability to detect and respond to a range of security threats against mobile financial applications. Mobile app security is becoming increasingly critical as mobile services and transactions increase. In the latest incident, NatWest Bank had to pull its mobile banking app after fraudsters managed to steal thousands of pounds from customers."

Bank of Africa selects Clear2Pay's mobile internet banking platform
"Bank of Africa, a subsidiary of BMCE Bank, has added Clear2Pay's Mobile Internet Banking (MIB) technology to help its customers with mobile financial services in 13 launching countries. The bank witnessed a rapid growth in business covering 14 geographies in the African continent, where it manages 1.4 million bank accounts, an increase of 24% since 2011. The new system, which is capable to integrate with the bank's existing e-Banking application, will also help to trim operational costs, while boosting customer satisfaction."

Sunday, November 4, 2012

Mobile Banking Updates - Nov 4

Image Processing Tech Limitations Could Stymie New Mobile Banking Apps
"Financial institutions have been experimenting for a few years with new and creative ways of taking advantage of smartphone cameras to provide mobile banking services. They started with mobile check deposit and have moved on to mobile capture of mortgage documents and drivers’ licenses."

Banks and telcos must partner for the long haul
"Partnerships between financial institutions and other firms such as telcos offer a chance to bring new services such as mobile banking and payments to millions of customers. But innovators should be prepared for the long haul, according a panel of senior industry representatives speaking this week."

As Windows 8 Launches, Banks Ready Mobile Banking Apps
"Financial institutions are readying apps for Microsoft's new, radically different Windows 8operating system for desktop, laptop and tablet devices, which officially launches today. Bank of America, the second-largest U.S. bank by assets, is one. 'We're developing an app for Windows 8 that will provide another convenient way for our customers to interact with Bank of America,' said a BofA spokesperson in a statement emailed to BTN. BofA's app is for PCs and tablets."

Consumers Share Their Mobile Banking Pet Peeves
"A vast majority – 72% – of U.S. adult smartphone users have encountered difficulty when trying to use a mobile banking app, research released this week has found. The survey of 600 smartphone users was conducted by The Adcom Group of Companies and commissioned by Virtual Hold Technology. Consumers shared their specific issues with mobile banking apps: 28% said the mobile app freezes or crashes, 26% have experienced a dropped internet connection while mobile banking, 25% said there were insufficient transaction details or filtering options, 21% said they could not easily speak to a customer service representative, 20% had problems opening an app, 19% have had problems logging in or setting up an app, 18% reported missing pending transactions or balance discrepancies, 17% said there were missing historic transactions, 16% have experienced delays due to payment fulfillment constraints, 15% were unable to schedule or modify payments or transfer funds, and the list goes on."

Saturday, November 3, 2012

Mobile Banking Resources - Nov 3

I was reading a couple of good articles this last week (Some Worthwhile Mobile Money Blogs) and (Best Banking Blogs 2012) about resources for mobile banking and wanted to share the information. Additionally, I have included all of this information in the resource navigation on the right.

Bank Marketing Strategy
Bank Innovation
CU Insight
Discerning Technologist
Financial Marketing Insights
Financial Services Club Blog
JD Power Banking Blog
Visible Banking
Mobile Money Transactions
Mobile Money Africa

Thursday, November 1, 2012

Mobile Banking Updates - Nov 1

U.S. Bank Unveils Windows Phone Mobile Banking App
"U.S. Bank today became the latest bank to offer mobile banking apps for the Windows Phone. The Minneapolis-based bank said it has developed two apps for the phone -- one through U.S. Bank's Wealth Management division and the other through U.S. Bank Retail Payment Solutions. The apps, featured in the Windows Phone Store, are free and provide consumers with access to market and economic insights, as well as access to an instant credit application for the U.S. Bank Cash+ Visa Signature Card."

Wincor Nixdorf Introduces Software to Bridge Mobile Banking and ATMs
"ATM manufacturer Wincor Nixdorf has joined competitors Diebold and NCR in producing a smartphone app meant to help consumers to save time at the ATM. The company, which is based in Austin, Tex., said Wednesday users can download the application, dubbed PC/EMobile Cash, to their smartphones, where it will allow them to find nearby ATMs and stage cash withdrawals and other transactions in advance."

Mobile Capture Comes To Small CUs
"The hot must-have technology in banking today has to be mobile remote-deposit capture, software that lets members take a photo of a check with a smartphone camera and, presto, it’s deposited into their account. The big rub thus far is that smaller credit unions have complained that mobile RDC is priced out of their budgets. But the news is that, suddenly, prices are getting pushed down, and an upshot is that a growing number of smaller financial institutions can now woo their members with the latest technology."

"There has been a transition in acceptance pertaining to mobile banking, but is it mainstream? Mainstream implies ubiquitous acceptance. In addition, mobile banking apps, from a technology standpoint are standalone, meaning that mobile banking is a separate and independent product interfaced only with the core banking application using a real-time interface."

A Shot in the Arm from Mobile Remote Deposit Capture
"Numerica Credit Union recently held what amounts to a happy hour at its branches, except instead of cocktails, people were given $5 checks and shown how to use phones to deposit those checks. The Spokane Valley, Wash., credit union was demonstrating mobile remote deposit capture (RDC), and has found that via marketing and education, the new tech can have a quick impact on business. Nearly 500 members used the service in the first month. These users deposited 928 items that came to a total of $303,000."

Mobile banking white paper offers strategies
"A new white paper offers consumers and businesses--including credit unions--information to support a mobile banking strategy, along with key trends, mobile banking best practices, and how to confront the biggest developmental challenges. "For a variety of reasons mobile banking has moved way beyond simple balance inquiries to include money transfers, both domestic and international; peer-to-peer payments; and even commercial payment processing," said the paper, "The Promise of Mobility: A Bank in Every Pocket." The paper is from Backbase, a New York-based mobile banking provider."