Mobile Banking Updates - May 27

Consumers Assume Mobile Banking Bill Pay Is Fast, But It Isn’t
"In an effort to generate fee revenue, some banks and credit unions have begun offering expedited bill payment through their online bill pay platform. Auditing a sample of institutions that offered expedited bill payment revealed that none extend this feature to their mobile banking platform. Why not? Wouldn’t you think that when someone pays a bill with their mobile phone, they probably require, expect, or assume the payment to be expedited?"

Reston firm turns to decades-old technology to set up mobile banking in Central Asia
"Not all new ideas for technology have to be, well, new. As the start-ups around it tinkered with the cutting edge, a Reston company called GeoPay stuck by decades-old technology — the same used in messaging systems that led to the earliest cellphones — to create a mobile-banking platform."

ESET Mobile Security scores full marks in banking Trojan test
"ESET Mobile Security has scored full marks for detecting mobile banking Trojans, in a group test conducted by Germany’s AV-TEST , a leading independent security research institute. In a group test of 11 security apps, ESET Mobile Security detected 100% of threats."

PlainPay, MyBank pair up to provide total mobile banking solution
"Virtual multi-channel banking solutions provider Auriga and online payment platform provider MyBank are combining their expertise to create an all-in-one mobile banking and payments app that will enable everything from mobile billpay to cardless ATM withdrawals. The solution will use PlainPay, an Auriga app that allows bank customers to perform nearly all their banking operations via mobile. PlainPay will be integrated with MyBank, the online payment platform promoted by EBA Clearing, which is owned by 64 major banks operating in Europe."

The Next Wave Of Mobile Banking
"In the U.S market today, retail banks offer a standardized mobile banking application. They enable their customers to monitor expenses, transfer funds and pay bills. This provides the convenience and ease of banking for the “on the go” customer. In general, mobile banking is an expanding market and has changed the way customers manage their funds. However, it is arguable that the user experience of each of the retail banks applications is similar. The application allows the end user to view their account balance, transfer funds and pay a multitude of bills."

Aiming To Be The Mobile Banking App To Rule Them All, Numbrs Stashes $7.7M Of Fresh Funding
"Chalk this up as one to watch closely in the world of consumer fintech. Numbrs, a mobile-first banking app founded out of Swiss company builder Centralway, has raised 7.5 million Swiss francs (~$7.7 million) from its parent, capital it will use to build on its pending German launch, with the UK and Swiss markets up next, followed by Singapore and Hong Kong."

Sovereign Bank Enters the Mobile Arena
"Boston-based Sovereign Bank ($85 billion in total assets), a subsidiary of Santander Holdings USA, this month formally rolled out its first mobile banking app after a lengthy process of research and customer surveys. Nuno Matos, managing director of retail banking at Sovereign Bank, says it was important to offer a robust mobile service to customers based on what they wanted out of a mobile app. The app's features include the ability to check account balances and activity including deposits, withdrawals and interest accrued; transfers between accounts; BillPay functions such as scheduling recurring and one-time payments or checking payment status; an ATM/branch locator, and one-touch customer service. It is currently available for Android and Apple devices."