Mobile banking on the rise in India
"Mobile banking is becoming more and more prevalent in India thanks to its convenience. Month-on-month transactions carried out through mobile banking are surging both in volume and value terms. According to Reserve bank of India (RBI) data, a total of 3.7 crore mobile transactions took place between February and November 2012, jumping around 1.7 times in volumes over this 10-month period. These transactions saw nearly a three-fold increase in value over the same period."
Research and Markets: Mobile Banking: Sizing the Global Market Opportunity and How Will Apps Effect Growth in 2013
"The rapid rise of mobile banking offers providers an opportunity to improve relationships with customers and differentiate themselves from competitors. However, mobile adoption varies significantly across country markets. The report explores the market opportunity in countries with advanced, intermediate, or slow mobile banking adoption."
CGI, Monetise partner on offering mobile banking, payments services to FIs
"IT provider CGI Group Inc. and mobile banking and payment provider Monitise plc announced they are partnering on a mobile money solution for financial services and payment companies based on Monitise's technology platform. The new venture will combine the IT and consulting services of CGI-subsidiary Logica with Monitise's mobile money capabilities, the companies said."
Thursday, January 31, 2013
Wednesday, January 30, 2013
Mobile Banking Updates - Jan 30
No Need for Mobile Banking Here, But Make Room for Horses
"Here's a banking market with strong credits, successful businesses and little need for expensive technology. But leave room in the parking lot for horse and buggy. A group in Pennsylvania has asked for approval to establish Bank of Bird-in-Hand, which would be the first de novo bank in the U.S. in more than two years. Named for a nearby town, the bank is located "right smack in the center of the Plain community," says Craig Rodenberger, marketing director at Ephrata National Bank in Ephrata, Pa., referring to so-called Plain People groups like the Amish and Mennonites."
Say goodbye to more bank branches
"Overall, banks closed 2,267 branches last year and opened only 1,149, according to research firm SNL Financial. That resulted in a total loss of 1,118 branches nationwide -- the highest level since 2005, when the firm began tracking closures. Looking to cut costs, many banks are aggressively shuttering branches they deem unnecessary and encouraging customers to shift to online and mobile banking instead, said Nancy Bush, a bank analyst and contributing editor at SNL."
Community Financial Credit Union Goes Mobile to Make Banking Even Easier
"Community Financial Credit Union members can now access their accounts at any time from just about anywhere with the credit union's recently unveiled mobile banking - including downloadable apps for iPhone(R) and Android(R) phones. Mobile banking from Community Financial, located in in Plymouth, Canton, Northville and Novi; as well as Gaylord, Hillman and Lewiston, is another way the credit union is making banking easier for its members. With Community Financial, mobile banking is available in three ways: Mobile Apps, Mobile Web and Text Banking."
Genisys Mobile Banking
"Take a Genisys branch with you wherever you go! The Genisys Android app allows you to manage your accounts on the go. Check balances, transfer money, deposit checks, check rates and search for free ATMs all from your Android device. Registration can be done right on the device. On the logon page simply click "Register here" and follow the simple steps from your device. A first time login will receive an activation code by email, phone, or text message."
"Here's a banking market with strong credits, successful businesses and little need for expensive technology. But leave room in the parking lot for horse and buggy. A group in Pennsylvania has asked for approval to establish Bank of Bird-in-Hand, which would be the first de novo bank in the U.S. in more than two years. Named for a nearby town, the bank is located "right smack in the center of the Plain community," says Craig Rodenberger, marketing director at Ephrata National Bank in Ephrata, Pa., referring to so-called Plain People groups like the Amish and Mennonites."
Say goodbye to more bank branches
"Overall, banks closed 2,267 branches last year and opened only 1,149, according to research firm SNL Financial. That resulted in a total loss of 1,118 branches nationwide -- the highest level since 2005, when the firm began tracking closures. Looking to cut costs, many banks are aggressively shuttering branches they deem unnecessary and encouraging customers to shift to online and mobile banking instead, said Nancy Bush, a bank analyst and contributing editor at SNL."
Community Financial Credit Union Goes Mobile to Make Banking Even Easier
"Community Financial Credit Union members can now access their accounts at any time from just about anywhere with the credit union's recently unveiled mobile banking - including downloadable apps for iPhone(R) and Android(R) phones. Mobile banking from Community Financial, located in in Plymouth, Canton, Northville and Novi; as well as Gaylord, Hillman and Lewiston, is another way the credit union is making banking easier for its members. With Community Financial, mobile banking is available in three ways: Mobile Apps, Mobile Web and Text Banking."
Genisys Mobile Banking
"Take a Genisys branch with you wherever you go! The Genisys Android app allows you to manage your accounts on the go. Check balances, transfer money, deposit checks, check rates and search for free ATMs all from your Android device. Registration can be done right on the device. On the logon page simply click "Register here" and follow the simple steps from your device. A first time login will receive an activation code by email, phone, or text message."
Tuesday, January 29, 2013
Mobile Banking Updates - Jan 29
Generations Bank Rolls Out Mobile Banking App that Includes PFM Tools
"Generations Bank announced Thursday a mobile app for its iPhone and Android customers called mygenmobile. Among the app's features are bill-pay capabilities; a GPS-based locator for branches and ATMs; alerts and notifications as well as the ability to aggregate outside financial accounts and add tags, notes or photos to transactions. Generations Bank is based in Seneca Falls, N.Y. The mobile app is available to its internet banking customers."
6 steps to safer online and mobile banking
"Using a phone to send a friend money to cover your bar tab, getting your ATM receipt via email and depositing a check by smartphone may seem futuristic, but these online and mobile banking functions are available today from many banks. While these and other paperless banking practices are practical and environmentally friendly, some consumers wonder if they are compromising their security in the name of convenience. Financial institutions have protections in place as well as recommendations for their customers on steps they can take to avoid financial or identity theft while using their smartphones for making payments and deposits."
MOBILE SURGE In four years, a billion+ users could embrace mobile banking
"A new report from Juniper Research finds that over 1 billion mobile phone users globally will have made use of their mobile devices for banking purposes by the end of 2017, compared to just over 590 million this year. While the forecast of 1 billion users by 2017 represents just under 15% of the mobile subscriber base, it should be acknowledged that around half of all mobile subscribers remain unbanked, with limited access to traditional financial services."
How Banks Can Use Mobile Banking Technology to Drive Revenue and Reduce Costs
"The annual E-Signature Summit for Banking Executives, co-hosted by Silanis and IBM this past week in New York, saw incredible turnout for the second year in a row and significant interest in mobile banking technology. With double the attendance over the year previous, attendees were treated to a day of sessions that included a panel discussion with guests from US Bank, JPMorgan Chase and IBM sharing their thoughts on mobile banking, e-signatures, cutting costs and driving revenue."
"Generations Bank announced Thursday a mobile app for its iPhone and Android customers called mygenmobile. Among the app's features are bill-pay capabilities; a GPS-based locator for branches and ATMs; alerts and notifications as well as the ability to aggregate outside financial accounts and add tags, notes or photos to transactions. Generations Bank is based in Seneca Falls, N.Y. The mobile app is available to its internet banking customers."
6 steps to safer online and mobile banking
"Using a phone to send a friend money to cover your bar tab, getting your ATM receipt via email and depositing a check by smartphone may seem futuristic, but these online and mobile banking functions are available today from many banks. While these and other paperless banking practices are practical and environmentally friendly, some consumers wonder if they are compromising their security in the name of convenience. Financial institutions have protections in place as well as recommendations for their customers on steps they can take to avoid financial or identity theft while using their smartphones for making payments and deposits."
MOBILE SURGE In four years, a billion+ users could embrace mobile banking
"A new report from Juniper Research finds that over 1 billion mobile phone users globally will have made use of their mobile devices for banking purposes by the end of 2017, compared to just over 590 million this year. While the forecast of 1 billion users by 2017 represents just under 15% of the mobile subscriber base, it should be acknowledged that around half of all mobile subscribers remain unbanked, with limited access to traditional financial services."
How Banks Can Use Mobile Banking Technology to Drive Revenue and Reduce Costs
"The annual E-Signature Summit for Banking Executives, co-hosted by Silanis and IBM this past week in New York, saw incredible turnout for the second year in a row and significant interest in mobile banking technology. With double the attendance over the year previous, attendees were treated to a day of sessions that included a panel discussion with guests from US Bank, JPMorgan Chase and IBM sharing their thoughts on mobile banking, e-signatures, cutting costs and driving revenue."
Sunday, January 27, 2013
Mobile Banking Updates - Jan 27
ING Bank Slaski releases corporate mobile banking app
"ING Bank Slaski has launched a mobile banking application for corporate customers - ING BusinessMobile for iOS and Android platforms is based on the Comarch Mobile Banking solution. The system is designed primarily for corporate customers as it offers convenient and quick transaction authorization. In addition to the four-eye principle, it allows to create secure transactions on the basis of pre-defined and templates orders."
First Niagara launches mobile banking app
"First Niagara Financial Group, Inc. (NASDAQ: FNFG) launched a new mobile banking app for iPhones, Android phones, and BlackBerrys. The app allows users to access account information, pay bills, execute internal transfers, and find branch and ATM locations. The banking company plans to add more features throughout 2013, including remote deposit capture, person to person payments, and an iPad app."
Mobile banking users set to almost double
"A new report from Juniper Research finds that over one billion mobile phone users will have made use of their mobile devices for banking purposes by the end of 2017, compared to just over 590 million in 2013. While the forecast of one billion users represents just under 15% of the mobile subscriber base, Juniper notes that around half of all mobile subscribers remain unbanked, with limited access to traditional financial services."
Era of online and mobile banking
"Banks are killing off branches by the thousands. Overall, banks closed 2,267 branches last year and opened only 1,149, according to research firm SNL Financial. That resulted in a total loss of 1,118 branches nationwide -- the highest level since 2005, when the firm began tracking closures. Looking to cut costs, many banks are aggressively shuttering branches they deem unnecessary and encouraging customers to shift to online and mobile banking instead, said Nancy Bush, a bank analyst and contributing editor at SNL."
If You Use Chase Mobile Banking, You’re Probably Richer than All Your Friends Who Don’t
"The world of banking has changed significantly over the past few decades, especially with the introduction of mobile and online banking. With this technology, individuals can take a more active role in their finances. In fact, it appears that banking online has not only made it easier for people to track their transactions, but according to a new study, bank customers are actually saving more money when they jump on the digital bandwagon."
"ING Bank Slaski has launched a mobile banking application for corporate customers - ING BusinessMobile for iOS and Android platforms is based on the Comarch Mobile Banking solution. The system is designed primarily for corporate customers as it offers convenient and quick transaction authorization. In addition to the four-eye principle, it allows to create secure transactions on the basis of pre-defined and templates orders."
First Niagara launches mobile banking app
"First Niagara Financial Group, Inc. (NASDAQ: FNFG) launched a new mobile banking app for iPhones, Android phones, and BlackBerrys. The app allows users to access account information, pay bills, execute internal transfers, and find branch and ATM locations. The banking company plans to add more features throughout 2013, including remote deposit capture, person to person payments, and an iPad app."
Mobile banking users set to almost double
"A new report from Juniper Research finds that over one billion mobile phone users will have made use of their mobile devices for banking purposes by the end of 2017, compared to just over 590 million in 2013. While the forecast of one billion users represents just under 15% of the mobile subscriber base, Juniper notes that around half of all mobile subscribers remain unbanked, with limited access to traditional financial services."
Era of online and mobile banking
"Banks are killing off branches by the thousands. Overall, banks closed 2,267 branches last year and opened only 1,149, according to research firm SNL Financial. That resulted in a total loss of 1,118 branches nationwide -- the highest level since 2005, when the firm began tracking closures. Looking to cut costs, many banks are aggressively shuttering branches they deem unnecessary and encouraging customers to shift to online and mobile banking instead, said Nancy Bush, a bank analyst and contributing editor at SNL."
If You Use Chase Mobile Banking, You’re Probably Richer than All Your Friends Who Don’t
"The world of banking has changed significantly over the past few decades, especially with the introduction of mobile and online banking. With this technology, individuals can take a more active role in their finances. In fact, it appears that banking online has not only made it easier for people to track their transactions, but according to a new study, bank customers are actually saving more money when they jump on the digital bandwagon."
Wednesday, January 23, 2013
Mobile Banking Updates - Jan 23
U.S. Bank Launching “Go Mobile” App in Salt Lake and Portland Offering Cardless Purchases Using an iPhone
"New U.S. Bank FlexPerks Visa customers in Salt Lake City, Utah, and Portland, Ore. will be the first U.S. Bank customers invited to try a new mobile payment service called U.S. Bank Go Mobile. The service allows customers to quickly and securely pay for everyday purchases with a wave of their iPhone 4 or iPhone 4S. U.S. Bank is introducing the service in Beta with new FlexPerks® Travel Rewards Visa Signature® account holders before introducing it more broadly in 2013."
Shazam Launches Debit Card App for Smartphones and Tablets
"The electronic funds transfer network based in Johnston, Iowa said Monday it has released "Shazam Bolt$," an app for smartphones and tablets that enables holders of the company's debit card to check their account balances, receive alerts of transactions and transfer funds directly to another person. Shazam is offering the app, which can display a sponsoring institution's name and logo, without charge to each of the roughly 1,500 community banks and credit unions that participate in its network."
YOUR MONEY ON THE GO: MOBILE BANKING THE BIGGEST PERSONAL FINANCE TREND FOR 2013
"Nearly half of consumers, 46 percent, were considering financial resolutions for 2013, according to the fourth annual New Year Financial Resolutions Study from Fidelity Investments. The top three specific resolutions were to save more (52 percent), spend less (19 percent), and pay off debt (19 percent). Luckily, technology and digital tools have made it easier to organize, prioritize, and achieve financial goals, specifically with the growth of mobile banking. Several financial services representatives spoke to Madame Noire about digital tools for personal finance and mobile banking was the most popular topic by far."
Mobile banking customers to reach one billion by 2017
"A recent report revealed that the number of customers who utilize mobile banking technology will reach more than one billion by 2017, compared to 590 million this year. Though the forecast only represents 15 percent of mobile device users, approximately 50 percent of all mobile users are unbanked or have limited access to traditional banking services, Telecoms.com reports."
Where Social Networks, Payments and Banking Intersect
"This article reviews the extent of social network adoption, describes ways in which commerce and banking services are arising, discusses payment methods, and highlights some of the potential risks of these various interactions."
"New U.S. Bank FlexPerks Visa customers in Salt Lake City, Utah, and Portland, Ore. will be the first U.S. Bank customers invited to try a new mobile payment service called U.S. Bank Go Mobile. The service allows customers to quickly and securely pay for everyday purchases with a wave of their iPhone 4 or iPhone 4S. U.S. Bank is introducing the service in Beta with new FlexPerks® Travel Rewards Visa Signature® account holders before introducing it more broadly in 2013."
Shazam Launches Debit Card App for Smartphones and Tablets
"The electronic funds transfer network based in Johnston, Iowa said Monday it has released "Shazam Bolt$," an app for smartphones and tablets that enables holders of the company's debit card to check their account balances, receive alerts of transactions and transfer funds directly to another person. Shazam is offering the app, which can display a sponsoring institution's name and logo, without charge to each of the roughly 1,500 community banks and credit unions that participate in its network."
YOUR MONEY ON THE GO: MOBILE BANKING THE BIGGEST PERSONAL FINANCE TREND FOR 2013
"Nearly half of consumers, 46 percent, were considering financial resolutions for 2013, according to the fourth annual New Year Financial Resolutions Study from Fidelity Investments. The top three specific resolutions were to save more (52 percent), spend less (19 percent), and pay off debt (19 percent). Luckily, technology and digital tools have made it easier to organize, prioritize, and achieve financial goals, specifically with the growth of mobile banking. Several financial services representatives spoke to Madame Noire about digital tools for personal finance and mobile banking was the most popular topic by far."
Mobile banking customers to reach one billion by 2017
"A recent report revealed that the number of customers who utilize mobile banking technology will reach more than one billion by 2017, compared to 590 million this year. Though the forecast only represents 15 percent of mobile device users, approximately 50 percent of all mobile users are unbanked or have limited access to traditional banking services, Telecoms.com reports."
Where Social Networks, Payments and Banking Intersect
"This article reviews the extent of social network adoption, describes ways in which commerce and banking services are arising, discusses payment methods, and highlights some of the potential risks of these various interactions."
Tuesday, January 22, 2013
International Mobile Banking Updates - Jan 22
Mobile Banking to Reach 65% of the Country Off the Banking Map
"Six months from now, people all over Peru will be able to begin paying their bodega bills or buying their neighbor’s cow by mobile phone. President Ollanta Humala enacted a law Wednesday authorizing the introduction of mobile banking, aimed at helping millions of Peruvians who have poor or no access to banks or ATMs to safely pay and be paid without the need of physical cash."
Risk-wary clients refuse to rush into mobile-banking
"Banks are pushing mobile business, but cautious customers seem to be in no hurry to make the switch. Scared of being exposed to cyber criminals, most people have restricted the use of mobile applications to checking account balances."
"Six months from now, people all over Peru will be able to begin paying their bodega bills or buying their neighbor’s cow by mobile phone. President Ollanta Humala enacted a law Wednesday authorizing the introduction of mobile banking, aimed at helping millions of Peruvians who have poor or no access to banks or ATMs to safely pay and be paid without the need of physical cash."
Risk-wary clients refuse to rush into mobile-banking
"Banks are pushing mobile business, but cautious customers seem to be in no hurry to make the switch. Scared of being exposed to cyber criminals, most people have restricted the use of mobile applications to checking account balances."
Sunday, January 20, 2013
Mobile Banking Updates - Jan 20
"Banking is top of mind for smart device owners who are increasingly using mobile to accomplish the daily to-do list. Among a list of tasks performance marketing company Performics provided US smartphone and tablet users in October, the No. 1 activity people said they expected to be able to do on their mobile device was banking. The expectation of mobile banking functionality was more common across every age category than routine activities such as ordering food, checking public transportation and booking travel."
Alliance Bank Offers Mobile Banking for Personal Banking Customers
"Alliance Bank, a privately owned community bank with over $590 million in assets, announced today the launch of Mobile Banking services for all personal banking customers. Alliance Bank offers a variety of Mobile Banking tools for fast, easy, and secure access to personal banking accounts from anywhere. With Alliance Bank Mobile Banking, customers can accomplish the most common banking tasks such as checking available balances, transferring funds between accounts, and paying bills. To use Mobile Banking, customers must first be registered for Access Online banking."
Green Dot Takes On Mobile Banking With GoBank
"Green Dot, the prepaid payment card provider, has launched itself into the mobile banking market today, unveiling its new GoBank bank account. The firm said it designed the new, mobile banking account "from scratch", specifically aimed at the new mobile generation."
Thursday, January 17, 2013
Mobile Banking Updates - Jan 17
Research and Markets: Mobile Banking for U.S. Corporate Customers: Catching on Slowly
"Mobile banking among consumers is a "done deal" with wide acceptance. However, Mercator Advisory Group's new report, Mobile Banking for U.S. Corporate Customers: Catching On Slowly, finds both banks and commercial enterprises a bit cautious about unleashing mobile banking for corporate transactions. Many corporate treasury personnel already have mobile devices (of myriad different kinds) and desire to mobilize their work lives as they have their personal lives. This research reviews some of the challenges facing corporations in choosing to authorize mobile transactions, as well as the challenges facing banks in attempting to serve these companies."
Mobile Banking Deposits Gain With Big-Bank Adoption
"Mobile banking deposits, where customers deposit a check into their bank accounts by snapping a photo of it with a smartphone or tablet, has hit critical mass with a number of financial institutions starting to offer the service. The trend highlights the explosion in mobile banking over the past two years, and the growing ease with which consumers and businesses now use mobile devices to carry out routine financial tasks like check deposits."
"Mobile banking among consumers is a "done deal" with wide acceptance. However, Mercator Advisory Group's new report, Mobile Banking for U.S. Corporate Customers: Catching On Slowly, finds both banks and commercial enterprises a bit cautious about unleashing mobile banking for corporate transactions. Many corporate treasury personnel already have mobile devices (of myriad different kinds) and desire to mobilize their work lives as they have their personal lives. This research reviews some of the challenges facing corporations in choosing to authorize mobile transactions, as well as the challenges facing banks in attempting to serve these companies."
Mobile Banking Deposits Gain With Big-Bank Adoption
"Mobile banking deposits, where customers deposit a check into their bank accounts by snapping a photo of it with a smartphone or tablet, has hit critical mass with a number of financial institutions starting to offer the service. The trend highlights the explosion in mobile banking over the past two years, and the growing ease with which consumers and businesses now use mobile devices to carry out routine financial tasks like check deposits."
Wednesday, January 16, 2013
International Mobile Banking Updates - Jan 16
Filling the Gap: Mobile Banking in the Developing World
"In many parts of India and the Philippines, women hide the little money they save under mattresses or in various places throughout the house. That means it’s difficult if not impossible for them to say no when a relative or friend comes looking to “borrow” money. (Plus, the money is not secure or accruing interest). Because banks are often scarce and difficult to access for many people in Asia, a savings account isn’t an option for most, says Julie Peachey, program manager of the microsavings initiative at Grameen Foundation, a nonprofit based in Washington, D.C. and a partner of Qualcomm’s Wireless Reach initiative."
Ethiopia: Mobile Banking Legal At Last
"Without much deviation from its draft state, the long awaited directive that will allow banks and Micro Financial Institutions (MFI) to provide transaction-based mobile and agent banking services was issued, on January 1, 2013. Now clients of banks and MFI's, offering mobile banking services, will be able to make deposits and withdrawals through their mobile phones. They can also make payments to businesses or transfer money to clients using their mobile phones."
New mobile service M-Shwari brings banking to underserved Kenyans
"A little over two months since launching M-Shwari, Safaricom says the mobile microcredit service has performed better than expected, with billions of shillings deposited and loaned out to help small and emerging businesses. Safaricom launched M-Shwari in November in partnership with the Commercial Bank of Africa to provide savings and loan services to the 15 million users registered for its M-PESA service, which allows Kenyans to transfer money via text messaging."
The Netherlands Showcases Europe’s Enthusiasm for Mobile Banking
"Mobile banking has been among the most popular mobile money activities among users, and the Netherlands is one country where that’s more than evident. According to Telecompaper, citing numbers provided by major banks within the country, Dutch broadcaster NOS reports that mobile banking apps users doubled last year. Rabobank and ING each said they served more than 1 million mobile banking customers, while ABN Amro had about 760,000 and 10 percent of SNS Bank’s customers conducted business through its mobile app."
"In many parts of India and the Philippines, women hide the little money they save under mattresses or in various places throughout the house. That means it’s difficult if not impossible for them to say no when a relative or friend comes looking to “borrow” money. (Plus, the money is not secure or accruing interest). Because banks are often scarce and difficult to access for many people in Asia, a savings account isn’t an option for most, says Julie Peachey, program manager of the microsavings initiative at Grameen Foundation, a nonprofit based in Washington, D.C. and a partner of Qualcomm’s Wireless Reach initiative."
Ethiopia: Mobile Banking Legal At Last
"Without much deviation from its draft state, the long awaited directive that will allow banks and Micro Financial Institutions (MFI) to provide transaction-based mobile and agent banking services was issued, on January 1, 2013. Now clients of banks and MFI's, offering mobile banking services, will be able to make deposits and withdrawals through their mobile phones. They can also make payments to businesses or transfer money to clients using their mobile phones."
New mobile service M-Shwari brings banking to underserved Kenyans
"A little over two months since launching M-Shwari, Safaricom says the mobile microcredit service has performed better than expected, with billions of shillings deposited and loaned out to help small and emerging businesses. Safaricom launched M-Shwari in November in partnership with the Commercial Bank of Africa to provide savings and loan services to the 15 million users registered for its M-PESA service, which allows Kenyans to transfer money via text messaging."
The Netherlands Showcases Europe’s Enthusiasm for Mobile Banking
"Mobile banking has been among the most popular mobile money activities among users, and the Netherlands is one country where that’s more than evident. According to Telecompaper, citing numbers provided by major banks within the country, Dutch broadcaster NOS reports that mobile banking apps users doubled last year. Rabobank and ING each said they served more than 1 million mobile banking customers, while ABN Amro had about 760,000 and 10 percent of SNS Bank’s customers conducted business through its mobile app."
Tuesday, January 15, 2013
Mobile Banking Updates - Jan 15
Beyond Mobile Banking: Building New Consumer Apps
"Should banks and credit unions be building fun and engaging mobile apps that go beyond basic banking functions? Or should they just stick to what they know? And what kind of apps do consumers expect from retail financial institutions?"
EVEN THE BEST MOBILE BANKING STRATEGY CAN BE A VICTIM OF POOR EXECUTION
"My latest research on Building Next Generation Mobile Banking Solutions has been published for a few days now. I’ve already gotten phone calls from clients stating this research is not only timely, but speaks to the very challenges their organization is facing when considering how to build next generation mobile banking solutions. The resounding theme, as my latest research uncovers: Even the best mobile strategy can be a victim of poor execution. Digital banking executives are feeling the pain of their current mobile banking platform."
Capital One's Mobile Banking Video Campaign is Heavy on Heavy Metal
"Banks that have been offering mobile banking for some time are looking for ways to extend adoption. At Capital One (COF), the efforts include the unlikely participation of a U.K. "power metal" band called DragonForce in a new web video-dominated ad campaign."
Green Dot Plans Mobile Banking Product
"Monrovia, California-based Green Dot, the provider of prepaid cards, is getting set to launch a new, mobile bank account product, the firm said Wednesday afternoon. The firm said it will be launching the product on Tuesday, January 15th. The company disclosed the new product launch through an invite for media, analysts and investors to a live conference call. The firm has not yet announced any details of the new product. Green Dot is headed by Steve Streit."
Cachet Provides Mobile RDC for Tyfone’s Mobile Banking Platform
"Cachet Financial Solutions, a leading provider of remote deposit capture solutions, has announced a partnership with Tyfone, a mobile financial and security solutions provider, to provide mobile remote deposit services, including mobile remote deposit capture (mRDC), for their mobile banking platform. Through this integration, Tyfone is offering real time deposit capabilities, allowing funds to be directly deposited into member accounts. Midwest-based CoVantage Credit Union was the first to implement the integrated solution."
"Should banks and credit unions be building fun and engaging mobile apps that go beyond basic banking functions? Or should they just stick to what they know? And what kind of apps do consumers expect from retail financial institutions?"
EVEN THE BEST MOBILE BANKING STRATEGY CAN BE A VICTIM OF POOR EXECUTION
"My latest research on Building Next Generation Mobile Banking Solutions has been published for a few days now. I’ve already gotten phone calls from clients stating this research is not only timely, but speaks to the very challenges their organization is facing when considering how to build next generation mobile banking solutions. The resounding theme, as my latest research uncovers: Even the best mobile strategy can be a victim of poor execution. Digital banking executives are feeling the pain of their current mobile banking platform."
Capital One's Mobile Banking Video Campaign is Heavy on Heavy Metal
"Banks that have been offering mobile banking for some time are looking for ways to extend adoption. At Capital One (COF), the efforts include the unlikely participation of a U.K. "power metal" band called DragonForce in a new web video-dominated ad campaign."
Green Dot Plans Mobile Banking Product
"Monrovia, California-based Green Dot, the provider of prepaid cards, is getting set to launch a new, mobile bank account product, the firm said Wednesday afternoon. The firm said it will be launching the product on Tuesday, January 15th. The company disclosed the new product launch through an invite for media, analysts and investors to a live conference call. The firm has not yet announced any details of the new product. Green Dot is headed by Steve Streit."
Cachet Provides Mobile RDC for Tyfone’s Mobile Banking Platform
"Cachet Financial Solutions, a leading provider of remote deposit capture solutions, has announced a partnership with Tyfone, a mobile financial and security solutions provider, to provide mobile remote deposit services, including mobile remote deposit capture (mRDC), for their mobile banking platform. Through this integration, Tyfone is offering real time deposit capabilities, allowing funds to be directly deposited into member accounts. Midwest-based CoVantage Credit Union was the first to implement the integrated solution."
Sunday, January 13, 2013
Mobile Banking Updates - Jan 13
Retail Banking Predictions & Trends For 2013
"While The Financial Brand refrains from making any kind of annual forecast of trends in retail banking, there’s no shortage of experts weighing in with their predictions and resolutions for next year. What are some of the major themes that will dominate 2013? Here’s what they have to say."
Mobile Banking: Bigger Than I Thought…
"An early adopter of my bank’s mobile app, I have to admit that I really am not what you would consider a ‘power user’. While I enjoy the convenience of checking account balances from my iPhone, I really have not taken advantage of all of the features and services now available, which is somewhat surprising since I despise the process of visiting a bank, even to use an ATM."
Mobile banking to hit 1B users by 2017: study - Mobile Commerce Daily
"Mobile banking is expected to grow at a global compound annual rate of 18 percent to eventually reach one billion consumers in the next five years, according to a new study from Juniper Research. Juniper’s “Mobile Banking: Handset & Tablet Market Strategies 2013 – 2017” report looks at how mobile banking is spreading in both developed and underdeveloped countries. Overall, the report points to the growing maturity in the space over the past year."
Corporate Mobile Banking Offers On-the-Go Management Control System, But Enterprises Remain Wary
"Both banks and commercial enterprises tend towards caution when dealing with mobile banking for corporate transactions. This, despite online corporate banking offering executives "anytime, anywhere" management control functions, including viewing cash position in near real-time, approving payments and receiving alerts. Global Information Inc (GII) presents highlights from new market research on corporate mobile banking from our premium research partner Mercator Advisory Group, Inc. These reports individually and collectively offer valuable insights on the direction of the payments industry, both in relation to online corporate banking and out into extended applications of the technology."
Do What You Do: Capital One Touts Mid-Mobile Banking Multitasking
"The flurry of mobile banking ads lately is no accident. Just like every other business, banks have figured out that consumers are on the go — and connected — all the time. Banks are already scrambling to get their piece of the mobile payments market, and now mobile banking apps are the latest new thing. A slew of campaigns are featuring the ease of mobile banking, with banks such as Barclays expanding mobile. Bank of America says, 'Life is mobile. So is your bank.' Chase calls mobile banking, 'The power of Chase in the palm of your hand.'"
Mobile banking demand drives app development innovation
"Barclays bank says its decision touse private cloud and Linux will help it cut development costs and compete in the mobile banking sector. This year banks will invest in mobile banking platforms as the business case for these investments becomes easier to make in the light of increasing demand. Over a billion people will use mobile handsets to access banking services by the end of 2017, according to the results of a study by Juniper Research."
"While The Financial Brand refrains from making any kind of annual forecast of trends in retail banking, there’s no shortage of experts weighing in with their predictions and resolutions for next year. What are some of the major themes that will dominate 2013? Here’s what they have to say."
Mobile Banking: Bigger Than I Thought…
"An early adopter of my bank’s mobile app, I have to admit that I really am not what you would consider a ‘power user’. While I enjoy the convenience of checking account balances from my iPhone, I really have not taken advantage of all of the features and services now available, which is somewhat surprising since I despise the process of visiting a bank, even to use an ATM."
Mobile banking to hit 1B users by 2017: study - Mobile Commerce Daily
"Mobile banking is expected to grow at a global compound annual rate of 18 percent to eventually reach one billion consumers in the next five years, according to a new study from Juniper Research. Juniper’s “Mobile Banking: Handset & Tablet Market Strategies 2013 – 2017” report looks at how mobile banking is spreading in both developed and underdeveloped countries. Overall, the report points to the growing maturity in the space over the past year."
Corporate Mobile Banking Offers On-the-Go Management Control System, But Enterprises Remain Wary
"Both banks and commercial enterprises tend towards caution when dealing with mobile banking for corporate transactions. This, despite online corporate banking offering executives "anytime, anywhere" management control functions, including viewing cash position in near real-time, approving payments and receiving alerts. Global Information Inc (GII) presents highlights from new market research on corporate mobile banking from our premium research partner Mercator Advisory Group, Inc. These reports individually and collectively offer valuable insights on the direction of the payments industry, both in relation to online corporate banking and out into extended applications of the technology."
Do What You Do: Capital One Touts Mid-Mobile Banking Multitasking
"The flurry of mobile banking ads lately is no accident. Just like every other business, banks have figured out that consumers are on the go — and connected — all the time. Banks are already scrambling to get their piece of the mobile payments market, and now mobile banking apps are the latest new thing. A slew of campaigns are featuring the ease of mobile banking, with banks such as Barclays expanding mobile. Bank of America says, 'Life is mobile. So is your bank.' Chase calls mobile banking, 'The power of Chase in the palm of your hand.'"
Mobile banking demand drives app development innovation
"Barclays bank says its decision touse private cloud and Linux will help it cut development costs and compete in the mobile banking sector. This year banks will invest in mobile banking platforms as the business case for these investments becomes easier to make in the light of increasing demand. Over a billion people will use mobile handsets to access banking services by the end of 2017, according to the results of a study by Juniper Research."
Thursday, January 10, 2013
International Mobile Banking Updates - Jan 10
Vietnam prepares for mobile banking push
"Vietnamese payment switch operator Smartlink has called in Singaporean vendor Tagit to help it build a mobile banking service. Tagit says that its Mobeix platform will be available to over 40 million card holders belonging to Smartlink's more than 50 member banks."
Asian corporates slow to adopt mobile banking despite consumer success
"The use of mobile phones to access account information has been gaining some level of popularity among retail consumers. Yet, despite the plausibility of scenarios drawn up by banks and the unambiguity of research results, an Asian response from corporate clients has yet to materialize. In 2007, North American Wells Fargo decided to introduce the service to its corporate clients as well – the first to do so among all the major banks. While many of its peers quickly drew up plans to jump on the bandwagon, the financial crisis refocussed their attention on more pressing issues."
Mobile Banking Use in U.S. Soars, Still Far Behind South Korea, India
"We learn that and much more from the latest Customer Loyalty in Retail Banking report just released by Bain & Company, a consultancy. The researchers have looked into 14 markets around the world and have surveyed 5,200 American consumers to gauge their traditional banking habits and attitudes toward newer channels, such as mobile banking. The report is full of interesting data, so I thought I should give you the bits and pieces I found most revealing of the current state of mobile banking in the U.S. I do, however, strongly encourage those of you who are in the m-payments industry to review the whole paper—there is a lot to be learned in it."
"Vietnamese payment switch operator Smartlink has called in Singaporean vendor Tagit to help it build a mobile banking service. Tagit says that its Mobeix platform will be available to over 40 million card holders belonging to Smartlink's more than 50 member banks."
Asian corporates slow to adopt mobile banking despite consumer success
"The use of mobile phones to access account information has been gaining some level of popularity among retail consumers. Yet, despite the plausibility of scenarios drawn up by banks and the unambiguity of research results, an Asian response from corporate clients has yet to materialize. In 2007, North American Wells Fargo decided to introduce the service to its corporate clients as well – the first to do so among all the major banks. While many of its peers quickly drew up plans to jump on the bandwagon, the financial crisis refocussed their attention on more pressing issues."
Mobile Banking Use in U.S. Soars, Still Far Behind South Korea, India
"We learn that and much more from the latest Customer Loyalty in Retail Banking report just released by Bain & Company, a consultancy. The researchers have looked into 14 markets around the world and have surveyed 5,200 American consumers to gauge their traditional banking habits and attitudes toward newer channels, such as mobile banking. The report is full of interesting data, so I thought I should give you the bits and pieces I found most revealing of the current state of mobile banking in the U.S. I do, however, strongly encourage those of you who are in the m-payments industry to review the whole paper—there is a lot to be learned in it."
Tuesday, January 8, 2013
Mobile Banking Updates - Jan 8
WILL MOBILE BANKING OVERTAKE ATMS IN 2013?
"More customers could deal with their bank via smartphone or tablet application than via the ATM network by the end of 2013, if the current adoption rate of mobile apps continues, according to one of St George Bank’s top technology executives. Speaking as the bank launched upgrades to its growing fleet of mobile apps, St George’s head of mobile, Travis Tyler, said once successful tap-and-go smartphone payment trials underway across the Westpac group are opened up to all customers, he believes mobile will become the most common way for customers to deal with the bank."
More Community Financial Institutions Offer Mobile Banking
"A growing number of community financial institutions are now offering mobile banking, despite continued concern over regulatory obstacles. According to a recent Independent Community Bankers of America study, 37 percent of community FIs currently offer mobile banking — more than twice as many as two years ago. Another 44 percent of community FIs plan to implement the service by 2014."
Banking technology getting more mobile in WNY
"First Niagara Bank is going mobile. The Buffalo-based bank is weeks away from the launch of its first mobile banking product. Bank officials say the free service, to be released in midwinter, is a response to customer demands."
"More customers could deal with their bank via smartphone or tablet application than via the ATM network by the end of 2013, if the current adoption rate of mobile apps continues, according to one of St George Bank’s top technology executives. Speaking as the bank launched upgrades to its growing fleet of mobile apps, St George’s head of mobile, Travis Tyler, said once successful tap-and-go smartphone payment trials underway across the Westpac group are opened up to all customers, he believes mobile will become the most common way for customers to deal with the bank."
More Community Financial Institutions Offer Mobile Banking
"A growing number of community financial institutions are now offering mobile banking, despite continued concern over regulatory obstacles. According to a recent Independent Community Bankers of America study, 37 percent of community FIs currently offer mobile banking — more than twice as many as two years ago. Another 44 percent of community FIs plan to implement the service by 2014."
Banking technology getting more mobile in WNY
"First Niagara Bank is going mobile. The Buffalo-based bank is weeks away from the launch of its first mobile banking product. Bank officials say the free service, to be released in midwinter, is a response to customer demands."
Sunday, January 6, 2013
Mobile Banking Updates - Jan 6
Wells Fargo, Ally Bank See the Camera as Key to Mobile Banking
"A revolutionary as mobile banking has been, it's the camera that resides within smartphones that's lighting the fire underneath adoption drives at banks such as Wells Fargo (WFC) and Ally Bank. 'The camera is critical. If you look at the kinds of growth in mobile banking over the first couple of years, it was about the basics of mobile banking. But what's really exciting me and my team for the next couple of years is figuring out how to take advantage of the ability of the mobile device,' says Brian Pearce, senior vice president and head of the retail mobile channel in the digital channels group at Wells Fargo."
Bill Pay Coming to Mobile Banking!
"You will soon be able to access your MidWestOne Personal Online Bill Pay account through Mobile Banking. If you are enrolled in Personal Online Bill Pay and use either the downloadable application or mobile browser version of Mobile Banking, you will be able to pay bills from your mobile device! You will also be able to access Popmoney, our Person-to-Person payment service."
Bremer Bank to Expand into Mobile Banking and Payments with Mobiliti from Fiserv
"Fiserv, Inc. (FISV), a leading global provider of financial services technology solutions, today announced that Bremer Bank, an $8.1 billion bank headquartered in St. Paul, Minn., has selected Mobiliti™ as its mobile banking, payments and alerting engine. With Mobiliti from Fiserv, Bremer Bank customers will be able to securely access their financial information via their choice of SMS (text messaging), mobile browser and downloadable applications for Android™ and iPhone®."
Capital One boasts mobile banking through Web video initiative
"Capital One has rolled out an online video series that spotlights how fast and easy the company’s mobile banking options are. The primary goal behind the video campaign is to educate consumers on how to use the Capital One mobile banking application. Four videos are involved in the series with a fifth one planned for later this year."
"A revolutionary as mobile banking has been, it's the camera that resides within smartphones that's lighting the fire underneath adoption drives at banks such as Wells Fargo (WFC) and Ally Bank. 'The camera is critical. If you look at the kinds of growth in mobile banking over the first couple of years, it was about the basics of mobile banking. But what's really exciting me and my team for the next couple of years is figuring out how to take advantage of the ability of the mobile device,' says Brian Pearce, senior vice president and head of the retail mobile channel in the digital channels group at Wells Fargo."
Bill Pay Coming to Mobile Banking!
"You will soon be able to access your MidWestOne Personal Online Bill Pay account through Mobile Banking. If you are enrolled in Personal Online Bill Pay and use either the downloadable application or mobile browser version of Mobile Banking, you will be able to pay bills from your mobile device! You will also be able to access Popmoney, our Person-to-Person payment service."
Bremer Bank to Expand into Mobile Banking and Payments with Mobiliti from Fiserv
"Fiserv, Inc. (FISV), a leading global provider of financial services technology solutions, today announced that Bremer Bank, an $8.1 billion bank headquartered in St. Paul, Minn., has selected Mobiliti™ as its mobile banking, payments and alerting engine. With Mobiliti from Fiserv, Bremer Bank customers will be able to securely access their financial information via their choice of SMS (text messaging), mobile browser and downloadable applications for Android™ and iPhone®."
Capital One boasts mobile banking through Web video initiative
"Capital One has rolled out an online video series that spotlights how fast and easy the company’s mobile banking options are. The primary goal behind the video campaign is to educate consumers on how to use the Capital One mobile banking application. Four videos are involved in the series with a fifth one planned for later this year."
Thursday, January 3, 2013
Mobile Banking Updates - Jan 3
Mobile Banking's Future to Include Voice Recognition, Wells Fargo's Ellis Says
"Steve Ellis will never forget the day it dawned on him that people would want to bank on their phones. "I was walking in San Francisco, I was on my BlackBerry and I walked in front of a bus," recalls Ellis, who is executive vice president and group head of the Wells Fargo Wholesale Services Group, which includes the Enterprise Payments Strategy, Technology Services, and Treasury Management groups, along with commercial loan services, customer analytics, marketing and communications, risk management, and mobile and social media strategies."
U.S. mobile banking soars 50% in 2011
"Mobile banking in the U.S. has soared 50% since 2011, according to a new global survey. Another survey found that marketing mobile banking can help credit unions and other financial institutions double the average adoption rates. And recent announcements indicate both credit unions and banks are taking advantage of mobile opportunities. Asia has the highest mobile banking penetration, but survey respondents in the U.S. reported the highest frequency of use--an average 4.9 mobile transactions in the previous three months, according to Bain & Company's annual "Customer Loyalty in Retail Banking Report" for 2012."
Mobile Banking: A Bonanza (or Bust) for Banks?
"Mobile is top priority for many banks. It gulps lots of money and management attention, and generates new risks. But the road ahead is blurry. We can visualize it much more clearly by checking the rearview mirror, observing how prior consumer payment innovations have played out – and what they have or haven't contributed to bank market shares and profitability."
Mobile banking will take time to catch on and pay off
"Banks shouldn’t count on a quick bonanza from mobile banking technology, the American Banker reports today. Why? In large part, because old habits die hard. '(C)onsumer transaction volume growth through new payment mechanisms is glacially slow, almost always much slower than projected.'"
Mobile banking innovation stimulates banks’ IT spending
"European banks are racing to catch up with the mobile services available in the US but remain twitchy about over-extending budgets. Despite a stagnating economy and the resource-draining process of adhering to thousands of pages of regulations, UK banks are investing time and money on mobile and internet technologies to improve customer services."
Mobile Banking, Identity Theft & Credit Reporting Agencies
"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."
"Steve Ellis will never forget the day it dawned on him that people would want to bank on their phones. "I was walking in San Francisco, I was on my BlackBerry and I walked in front of a bus," recalls Ellis, who is executive vice president and group head of the Wells Fargo Wholesale Services Group, which includes the Enterprise Payments Strategy, Technology Services, and Treasury Management groups, along with commercial loan services, customer analytics, marketing and communications, risk management, and mobile and social media strategies."
U.S. mobile banking soars 50% in 2011
"Mobile banking in the U.S. has soared 50% since 2011, according to a new global survey. Another survey found that marketing mobile banking can help credit unions and other financial institutions double the average adoption rates. And recent announcements indicate both credit unions and banks are taking advantage of mobile opportunities. Asia has the highest mobile banking penetration, but survey respondents in the U.S. reported the highest frequency of use--an average 4.9 mobile transactions in the previous three months, according to Bain & Company's annual "Customer Loyalty in Retail Banking Report" for 2012."
Mobile Banking: A Bonanza (or Bust) for Banks?
"Mobile is top priority for many banks. It gulps lots of money and management attention, and generates new risks. But the road ahead is blurry. We can visualize it much more clearly by checking the rearview mirror, observing how prior consumer payment innovations have played out – and what they have or haven't contributed to bank market shares and profitability."
Mobile banking will take time to catch on and pay off
"Banks shouldn’t count on a quick bonanza from mobile banking technology, the American Banker reports today. Why? In large part, because old habits die hard. '(C)onsumer transaction volume growth through new payment mechanisms is glacially slow, almost always much slower than projected.'"
Mobile banking innovation stimulates banks’ IT spending
"European banks are racing to catch up with the mobile services available in the US but remain twitchy about over-extending budgets. Despite a stagnating economy and the resource-draining process of adhering to thousands of pages of regulations, UK banks are investing time and money on mobile and internet technologies to improve customer services."
Mobile Banking, Identity Theft & Credit Reporting Agencies
"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."
Wednesday, January 2, 2013
Mobile Banking Updates - Jan 2
Intuit Survey: Mobile Banking Is Pathway to Profits
"Think digital banking is only for Gen Y and younger? Think again, think older. Much older. That is the sharp message contained in a new report from Intuit on the ongoing digital banking revolution. The other key finding: mobile banking is a pathway to profitability. An ongoing temperature reading of digital banking habits, the Intuit report is filed quarterly by the Mountain View, Calif.-based financial software company. It is filed with factoids, such as this: 'people who bank online and via their mobile and tablet devices log in about 30 times a month and are more profitable to a financial institution than those who don’t bank digitally.'"
Mobile Banking and Mitek: Business Finally Starting to "Get" B-to-C Apps
"U.S. Bank will soon up the ante in business customer service with the introduction in early 2013 of a Mobile Photo Bill Pay application for their customers. The fifth largest bank in the country will utilize technology from Mitek Systems to let bank customers set up and make bill payments by snapping a picture of their paper bill using the camera on their smartphone or tablet. Good-bye keypad."
Mobility Matters: Login-Free Mobile Banking?
"The must-add list keeps getting longer, with everything from digital wallets to mobile remote deposit capture emerging as 2013 must adds for credit unions that are determined to stay relevant. But know this: there are even more “out there” ideas that, frankly, may not be quite ready for prime time ... but they definitely deserve a spot on your watch list. Two ideas seem especially ripe to me, and both revolve around a fundamental question: How does a financial institution know who you are?"
Comarch and Alior Bank present a new quality of mobile banking
"Alior Bank has implemented the Comarch solution providing access to new channels of mobile banking for smartphones and tablets users - it is a completely new quality of customer communication with the bank that takes advantage of all capabilities of modern mobile devices. - Comarch Smart Finance is an innovative mobile banking solution, which keeps up with the latest trends in banking 2.0 and multichannel banking."
"Think digital banking is only for Gen Y and younger? Think again, think older. Much older. That is the sharp message contained in a new report from Intuit on the ongoing digital banking revolution. The other key finding: mobile banking is a pathway to profitability. An ongoing temperature reading of digital banking habits, the Intuit report is filed quarterly by the Mountain View, Calif.-based financial software company. It is filed with factoids, such as this: 'people who bank online and via their mobile and tablet devices log in about 30 times a month and are more profitable to a financial institution than those who don’t bank digitally.'"
Mobile Banking and Mitek: Business Finally Starting to "Get" B-to-C Apps
"U.S. Bank will soon up the ante in business customer service with the introduction in early 2013 of a Mobile Photo Bill Pay application for their customers. The fifth largest bank in the country will utilize technology from Mitek Systems to let bank customers set up and make bill payments by snapping a picture of their paper bill using the camera on their smartphone or tablet. Good-bye keypad."
Mobility Matters: Login-Free Mobile Banking?
"The must-add list keeps getting longer, with everything from digital wallets to mobile remote deposit capture emerging as 2013 must adds for credit unions that are determined to stay relevant. But know this: there are even more “out there” ideas that, frankly, may not be quite ready for prime time ... but they definitely deserve a spot on your watch list. Two ideas seem especially ripe to me, and both revolve around a fundamental question: How does a financial institution know who you are?"
Comarch and Alior Bank present a new quality of mobile banking
"Alior Bank has implemented the Comarch solution providing access to new channels of mobile banking for smartphones and tablets users - it is a completely new quality of customer communication with the bank that takes advantage of all capabilities of modern mobile devices. - Comarch Smart Finance is an innovative mobile banking solution, which keeps up with the latest trends in banking 2.0 and multichannel banking."
Tuesday, January 1, 2013
International Mobile Banking Updates - Jan 1
Tagit, Smartlink launch mobile banking service in Vietnam
"Singapore-based mobile technology company Tagit in collaboration with Vietnamese payment switch operator Smartlink has introduced aggregated mobile banking service, which will benefit 51 banks in Vietnam and millions of mobile users. The partnership is expected to provide new growth opportunities for the mobile payments ecosystem. More than 40 million domestic bankcard holders and 120 million mobile users will be benefited when Smartlink jointly will implement mobile services with its member banks across the country."
Mobile banking accounts touch 1.8 million mark
"Mobile banking accounts have jumped to 1.8 million mark depicting a remarkable growth of 25 percent during July-September 2012, according to Branchless Banking (BB) Newsletter by the State Bank of Pakistan (SBP) on Wednesday. The BB customers conducted almost 31.5 million transactions worth Rs 139 billion during the quarter. The average size of each transaction was Rs 4,420 while the average number of transaction per day increased to 0.349 million."
Norwegian bank mobile banking app attracts 10% of customers upon launch
"Norwegian bank Sparebanken Vest has revealed one in every ten of its online customers are now using its mobile banking application, following its launch on 4 October, with more than 500 new registrants joining every day. Sparebanken Vest uses Encap’s Software-as-a-Service (SaaS) two-factor security authentication tool for its mobile banking app, which delivers a simple and easy registration and login process, aiding uptake along wide the convenience factor of being able to bank on the move."
"Singapore-based mobile technology company Tagit in collaboration with Vietnamese payment switch operator Smartlink has introduced aggregated mobile banking service, which will benefit 51 banks in Vietnam and millions of mobile users. The partnership is expected to provide new growth opportunities for the mobile payments ecosystem. More than 40 million domestic bankcard holders and 120 million mobile users will be benefited when Smartlink jointly will implement mobile services with its member banks across the country."
Mobile banking accounts touch 1.8 million mark
"Mobile banking accounts have jumped to 1.8 million mark depicting a remarkable growth of 25 percent during July-September 2012, according to Branchless Banking (BB) Newsletter by the State Bank of Pakistan (SBP) on Wednesday. The BB customers conducted almost 31.5 million transactions worth Rs 139 billion during the quarter. The average size of each transaction was Rs 4,420 while the average number of transaction per day increased to 0.349 million."
Norwegian bank mobile banking app attracts 10% of customers upon launch
"Norwegian bank Sparebanken Vest has revealed one in every ten of its online customers are now using its mobile banking application, following its launch on 4 October, with more than 500 new registrants joining every day. Sparebanken Vest uses Encap’s Software-as-a-Service (SaaS) two-factor security authentication tool for its mobile banking app, which delivers a simple and easy registration and login process, aiding uptake along wide the convenience factor of being able to bank on the move."
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