Mobile Banking Updates - Feb 17

Startup Prepares Alternative to Online, Mobile Banking Passwords
"As banks struggle to move past passwords, a Silicon Valley startup is taking a stab at a fingerprint and facial recognition standard backed by some heavy hitters — PayPal and Lenovo among them. Nok Nok Labs, which was created a year ago by the founder of the data security vendor PGP, says it will eventually sell server software that will make the process of verifying the identity of online and mobile bank customers easier and more effective. The company plans to release its developer tool kit in March."

Is Mobile Banking Ready For Business?
"Though mobile has become an indispensable channel in banking, it hasn't quite become a "must-have" among corporate customers. Part of that is because of the limited screen size of most smartphones; corporate treasurers need to access large amounts of information, which could prove inconvenient and awkward to display on such a small device."

What’s holding us back from using mobile banking?
"If data were to be believed, a lot of you would have graduated from using Internet banking to mobile banking already but a lot of us have still not made the leap. Though the number of transactions through mobile banking increased by 64% in the April-December 2012 period, according to data from the Reserve Bank of India (RBI), 67% of overall banking transactions still happens through cash, according to a 2011 Deloitte-Assocham study."

Banks boost mobile banking efforts
"More financial institutions are promoting their mobile banking offerings as a way to attract customers and also reduce expenses related to customer service calls and branch visits. While mobile banking has been around for five or six years now, The Wall Street Journal said banks are boosting their efforts to add new features, such as bill-paying capabilities, as customers become more comfortable using their mobile phones to conduct basic financial transactions."

Mobile Banking by Voice Next Up? Print Preview
"The question is fundamental: which is faster, and easier? Inputting commands into a smartphone by typing on glass or by talking them into the device? The fact is these are phones that were developed so that users could talk into them. Other features such as data input via typing, for instance, got added on later."