Mobile Banking Updates - April 22

What Will the Next Generation of Corporate Mobile Banking Look Like?
"'Mobile banking is evolving quickly for companies. This evolution is being propelled by the phenomenal growth in personal smartphone usage. Our clients now want to take the convenience and mobility they have with their personal smartphone into the workplace,' says James Gifas, head of RBS Citizens Treasury Solutions. "Over one third of smartphone owners in the U.S. are using their devices for personal mobile banking, and consumers want their business banking to be just as convenient."

6 Mobile Banking Features on B of A's Drawing Board
"Bank of America isn't generally first to market with new mobile banking features, but when it does offer something new, it draws high adoption numbers and it strikes fear in the hearts of competing bankers, who know their customers will soon start asking why their bank doesn't offer it. Case in point: the bank launched mobile check deposit last August (USAA launched this feature in August 2009; Chase launched it in July 2010). Today, Bank of America has 1.9 million users of mobile deposit, it's processed 18 million check images captured this way, and on average it is handling 100,000 checks per day through mobile deposit."

Mobile banking spurs growth at Michigan First Credit Union
"Michigan First Credit Union is looking for a few good employees, 14 right now to be exact. The Lathrup Village-based financial institution is looking for everything from tellers to human resources professionals to add to its staff of 225 people. However, technology pros are in especially high demand for the credit union. About a third of its new positions have some sort of tech angle, such as software developer or IT professional."

Behold, the next gen of mobile banking
"Like nearly every other industry--entertainment, journalism, personal communications--banking is changing at an amazing rate. It's not a white shoe enterprise anymore, thanks to the nearly ubiquitous adoption of mobile phones and tablets. And banks have better get ready because these tech-savvy customers are already using their phones for checking balances and making payments, and they want to do even more. Those were the words of warning from a senior player in the mobile banking space in an address before mobile finance executives at Mobey Forum in San Francisco."

The Next Steps For Consumers And Mobile Banking
"Consumers are becoming increasingly aware of mobile financial apps and services, but there’s still more that banks and FIs can do to increase adoption. That’s one of the takeaways from a new survey by IAB, InMobi and Viggle, which poled more than 1,200 consumers on their various thoughts and feelings on mobile financial services. Over half of all respondents indicated that they use financial mobile apps, but how many remain unaware of their existence? PYMNTS.com takes a look in this Data Point."

The Nexus of Forces and Software Quality in Banking
"Financial sector software failures fill our news pages – from banks failing to make payments to cash machines giving away free money, these high profile crashes are just the tip of the iceberg. The challenge of ensuring quality of software and IT in the banking sector is nothing new. Banking IT is highly complex, with different systems for both retail and investment banks. A typical banking IT scenario may encompass several different systems from multiple vendors, developed independently and integrated over a period of twenty years. The business supported by the systems is so wide that no single team understands the entire IT infrastructure."