Mobile Banking Updates - April 25

Refi Party Is Over, Mobile Money Party Is Just Beginning
"Mobile Money: Anglocentric coverage in today's FT. "For prospective employees mobile banking could prove one bright spot for pay and prospects in the sector," says one story. "Retail banks are expecting mobile banking to be the area where the most roles will be created this year, ahead of branch and internet banking." Another article looks at the competitive threat to incumbent U.K. financial institutions from nonbanks selling phone apps, prepaid debit cards, etc. "Banks will have a hard time coming down and playing in this space because of their regulators," a payments industry lawyer tells the FT. Sound familiar?"

4 tips for finding the best mobile banking
"Mobile banking use is exploding, and banks are quickly adding new services. Last year, 10 million more people signed up for mobile banking, according to Javelin Strategy & Research in Pleasanton, Calif., driven by soaring smartphone and tablet use. And, one-third of the U.S. population is now tapping into mobile banking, versus one-fifth in 2010. But mobile services vary widely. Here's the mobile banking landscape you're likely to encounter and how to choose the best bank and apps for you. Big banks such as JPMorgan Chase & Co., Bank of America and Citi have led the charge, offering the most robust mobile banking technology, says Mary Monahan, Javelin's research director of mobile. And they consistently head the class in mobile banking service quality rankings, though regional banks are also quickly adding mobile services."

CO-OP Introduces Mobile App for iPad
"Credit union clients of CO-OP Financial Services are now able to offer their members a mobile banking app for the iPad tablet. The new app will let members account balances and cash flow charts that summarize debit and credit activity; account history; transfers; and GPS-enabled access to CO-OP Network ATM or CO-OP Shared Branching locations, the payment CUSO said. In addition, the app enables each credit union to customize with member access to their own hosted web pages for loan/account opening services, rates and promotions; or social media sites such as Twitter, Facebook, LinkedIn and YouTube."

Regions online banking goes down due to "network issue"
"Many Regions Bank customers were without online banking access Monday after what the company calls an 'intermittent network issue.' The bank said in a statement on their Facebook Monday they are experiencing a network issue which is impacting some customer's ability to access their website. Those wishing to access the company's website, Regions.com, were taken to a Network Solutions backorder domain website. 'I've been trying to log on off and on since this morning and it is a different page and says the domain no longer exists. I didn't type any info in because I was afraid I'd be hacked,' says Leanne Eldridge."

Wells Fargo's Big Idea: Shrinking Branch Office
"Can neighborhood bank branch offices works smarter, and not harder? Oh, and can they work smaller, too? Wells Fargo (WFC) aims to find out starting this month. The San Francisco banking giant opened a branch Monday in Washington, D.C., that is one-third the size of the usual and comes well-stocked with such features as mobile banking, new ATMs and image-based bank deposits."