International Mobile Banking Updates - May 14

Mobile banking apps to be tried on Everest
"Mountaineers Horacio Galanti and Horacio Cunietti have commenced a unique Himalayan expedition to summit Everest to mark the 60th anniversary of its first ascent. The expedition will also push the boundaries of mobile technology in extreme environments and help in the recovery of debris left behind on the world’s highest peak. While on their expedition, the duo are expected to subject Standard Chartered’s Breeze mobile banking apps to the rigors of some of the most challenging environments known by attempting to trade stocks and transfer funds during their journey."

Mobile money accelerates financial inclusion
"The volatile economic environment which has prevailed in Zimbabwe over the past decade largely contributed to the failure of telecoms and banking institutions to adopt mobile banking. But over the past year there has been a foray by telecommunication and banking institutions to establish mobile banking platforms. Examples of mobile banking products that have been launched include: Kingdom Bank’s Cellcard, Tetrad’s eMali, Econet Wireless’ Ecocash; Cabs Bank’s Textacash, Interfin Bank’s Cybercash and CBZ Bank’s mobile banking, among others."

Corporation Bank launches app for iPad, Android
"City-based Corporation Bank had launched an app for iPad and Android. The Bank recently had come out with a special mobile banking app through Android and iOS. This app can be downloaded free from app store for iOS and Google Play for Android phones and tablets. The bank is one of the first public sector banks to introduce transaction-based banking in tablet PCs and iPads."

Central Bank calls for tight security in mobile banking
"Bank of Uganda has urged banks to ensure that they operate a secure and robust mobile banking platform to protect customers’ mobile bank accounts. 'A number of banks are now offering mobile banking products. It is in light of this that I re-iterate that every new product comes with its attendant risks. It is imperative that potential risks are identified and appropriate mitigation measures developed,' Ben Sekabira, the acting executive director supervision, Bank of Uganda, said."

Valimo Offers over One Million Tele2 Norway’s Mobile Users Easy to Use Strong Authentication, Mobile ID and Legally Binding Electronic Signature
"Valimo, a leading solution provider for mobile user authentication and digital signature software, announces that Tele2 Norway, a major European mobile operator, has selected its Mobile ID authentication service platform. The Valimo solution will offer over one million Tele2 subscribers in Norway the opportunity to securely access services that require strong, two-factor authentication, such as internet banking or e-government applications, using their mobile phone to generate a legally-binding electronic signature. As a first step, this new service will enable highly secure and legally binding log-in for online and mobile banking with four major banks in Norway."

Kenyan mobile innovation hard to export
"Kenya's mobile banking innovation may prove difficult to export. The African country has led the way with an SMS-based payment service called M-Pesa, which launched in eastern India last month.The government's push to give all Indians the right to banking access bodes well. But financial regulations and fierce competition may mean M-Pesa in India will face higher hurdles than its Kenyan role model."

Capitec banking app on its way
"Capitec says its dedicated banking app will be coming near the end of its current financial year (February 2014), and will be designed to run on both smart and feature phones. This follows the recent launch of Absa‘s banking app on 10 April 2013 – the last of South Africa’s so-called “big banks” out the door with a dedicated mobile application. However, Capitec told BusinessTech that it does not feel pressured by the competition to released a specialised banking app for smartphones, indicating further that its digital plans differ from those of its competitors."

E-banking survey reveals surge in mobile banking
"Online research specialist Columinate has released the results of the second annual Internet Banking SITEisfaction survey, one of the most comprehensive reports on customers' usage and perceptions of e-banking in South Africa. The survey quizzed over 1,400 South African e-bankers on their online banking habits and attitudes, and revealed several interesting trends. Henk Pretorius, Columinate CEO, explains that the survey is important as it provides insights into one of the fastest changing areas of customer banking."

Mobile and Alternative Payments in Mexico
"The Mexican consumer financial services landscape is in the midst of great change, driven by the confluence of technological innovation, innovative forms of branch expansion, regulatory changes in consumer deposit accounts and bank cards, and a strong push to facilitate mobile banking and payments. Indeed, major banks and telecommunications companies, most notably Telcel, have launched mobile banking and payments platforms that we expect to gain significant traction in 2013. At stake is the transformation of the Mexican banking system--from remittances to redefining branch banking--which can address longstanding financial inclusion disparities by reaching tens of millions of consumers heretofore unable to participate in formal banking services."

Bell and RBC strike deal to launch a mobile payment service, will be available “by the end of the year”
"Mobile payments in Canada are slowly increasing in popularity and will gain even more traction this summer. Rogers recently teamed up with CIBC to launch ‘suretap’, and Bell announced a partnership with RBC this morning. The new mobile payment solution will only be available for RBC customers who download the RBC mobile banking app, plus have a compatible Bell smartphone. The mobile payment option will be included into the current RBC Mobile banking app, not a standalone app, and will appear on the homescreen menu. The app will allow users to purchase small ticket items (debit or credit) from their smartphone."

HSBC seeks balance between mobile payments, Hong Kong branch network
"The increased popularity of mobile payments in Hong Kong has pushed HSBC to invest in related technology, but the bank said it would not stop expanding its branch network. Diana Cesar, head of retail banking and wealth management at HSBC in Hong Kong, said the lender would strike a balance between different banking services, even as mobile banking emerged as a growth area. In the first quarter, average monthly HSBC mobile banking logins increased more than 60 per cent from last year, Cesar said at the launch of a wealth management app."