Mobile Banking Updates - Feb 7

Mobile Banking Trends To Watch Out For In 2013
"Mobile banking has evolved tremendously over the past years. As we move into 2013, there are a few key trends that we will see emerge and gain momentum. We believe that voice will be part of all enterprise class mobile applications in the next 3 to 5 years and will do more than just replace typing. Apple’s personal voice assistant Siri is just the beginning, and soon we will see a number of new speech-enabled uses and applications for the banking industry. Voice provides a much deeper interaction mechanism than just typing or going to a particular screen on your phone app or online. Humans use voice to communicate much more naturally than typing and have been doing so for several millenniums."

Compass Plus Releases White Paper on Mobile Banking
"Compass Plus, an international provider of retail banking software and electronic payments systems to financial institutions, has released a white paper, Mobile Banking: One Size Doesn’t Fit All, which examines why mobile banking should be a fundamental part of a financial institution’s a long term strategy to encourage customer acquisition and retention. According to the paper, financial institutions’ success hinges on staying relevant to consumers by adding value to the banking relationship and adapting to fulfil changing needs, such as the ever-growing demand for mobile banking services. Although innovation has been focused on the mobile banking channel in recent years, research shows that mobile banking still offers the least positive customer experience. Financial institutions must work to close the gap between the expectation and the experience."

Online Banking Design Succeeds or Fails on Feedback, Details: Citi's Weber
"After Forrester Research dubbed Citi's online banking site the best in the U.S. last week, we spoke with Tracey Weber, Citigroup's head of internet and mobile banking and Bank Technology News' Mobile Banker of the Year for 2012, about the bank's latest initiatives. 'We're feeling good, but there's always more to do,' she says. 'We did a big redesign in October 2011 and then did a lot of field work last year. We've evolved the design a lot this year in places, especially where we had customer feedback about things that could be played up and optimized.'"

Going Mobile and Your SAP Investment, Advantages - Risks
"If I was a Financial Director of a medium to large sized business there should be some alarm bells going off right now concerning moving to mobile devices. Especially if you have invested a huge sum of money on SAP, looking beyond FI/CO modules, any mobile initiative by the company could make large parts of the SAP system redundant for hours on end to users if you are not careful as users have the wrong technology in their hands. So let's look at the concerns;"

IIICTECH Develops Wink Mobile Banking App For Real-Time Overdraft Monitoring
"In the past 2 years alone, Americans spent nearly $70 billion in overdraft fees – no, that’s not a typo. How is this even remotely possible? It’s simple. It’s cumbersome to check your account balance while in the checkout line with your hands full. It’s a nuisance, at times, to have to log in to your banking app and navigate to your account balance every time you walk into a retail store. Every time. This is where IIICTECH’s (read: 3 C Tech) patent-pending app for iOS comes into play. WINK is expected to be a mobile app that delivers your account balance info once you walk into a retail shop. It seeks to eliminate having to repeatedly login with your password the next time you decide to grab a cup of coffee at your local java house. In essence, you get what you need, when you need it and helps in becoming a more conscious consumer."

Juniper: Banking is now mobile and branchless
"Mobile banking forms an essential component of the overall mobile commerce industry, wherein the two are closely interrelated. Empowering users to make account transactions whilst on the move, mobile banking enables supplementary mobile commerce actions to be undertaken as a function of a mobile wallet. Equally, a consumer adopting the mobile phone to make payments reinforces a mutual mentality in which individuals increasingly consider the device as a comprehensive financial tool, and subsequently naturalizes its use for ancillary payment actions such as banking. For example, although making a contactless NFC payment for a train or metro ticket is not mobile banking, the recurrent act of paying with a mobile device allows the customer to become more comfortable, and to then find related and additional transactions a more efficient undertaking via their mobile."