Mobile Banking Updates - Feb 20

How to Keep Mobile Banking from Becoming a Bust
"The establishment of mobile banking gained momentum in 2012 thanks to two major factors: Smartphones have become the norm, and it's easier than ever to develop more powerful and more secure apps. As customers continue embracing banking from their phones and tablets, retail bankers should keep the following points in their mind to truly maximize the benefits of mobile banking."

Consumers Expect More From Mobile Banking Apps Than They’re Getting
"Mobile banking apps fall short of consumer expectations, with nearly half admitting they’ve thought about deleting the app they downloaded from their bank or credit union. A national survey of more than 600 U.S. adults across revealed a surprising disparity in what consumers want in a mobile banking app versus what they actually get from their banking provider. Americans increasingly want… nay, expect to be able to deposit checks and receive real-time notifications on account activity from their mobile banking apps. And yet that’s not what most get."

Your Customers Are More Ready for Mobile Banking Than You Are
"That is a bold statement, but – with a few noteworthy exceptions – it’s true. For evidence, just look at the report yesterday in Retail Banker International that 20,000 Bank of Ireland customers signed up in advance for the bank’s new Pay to Mobile service. People are not just ready for standard mobile banking, they’re ready for an expanded version. They’re ready for you to text them when fraud is suspected, send them automated reminders to pay overdue bills and allow them to do more self-service banking on their phone."

Today In APIs: Rise of Mobile Banking, Backplane Protocol and 13 New APIs
"Most consumers are comfortable downloading a variety of applications on their Smartphones. But when it comes to conducting financial transactions on their phones, a large number of us are not that comfortable and still prefer old-fashioned ways of completing the transaction. A report in WSJ indicates that the trend is slowly but surely changing, thereby making it a challenge for financial institutions to cater to an increasing segment of users who prefer to do the transactions via their mobile application."

Moven gives sneak peek of new mobile banking app
"At Finovate in London tomorrow, banking and budgeting startup Moven will give people a glimpse at what its app and Web products look like as it gears up for a February 25 closed beta release."