"Brandon McGee, Industry Insider, Mobile Banking Guru...He is not only the real deal, a genuine industry insider, but also knows exactly what's on the minds of financial service pros as they contemplate the various mobile options." - Jim Bruene, Publisher & Founder, Online Financial Innovations

"Going Mobile. Local executive carves niche as national expert on fast-growing banking-industry technology trend" - Scott Olson, Indianapolis Business Journal (IBJ)

"Brandon McGee, the industry's unofficial ambassador for mobile banking" 

Sunday, June 30, 2013

Mobile Banking Updates - June 30

Consumers More Willing to Pay for Mobile Banking: Study
"Over the past year, consumers have become more willing to pay for mobile banking services, according to a new report by ath Power Consulting. 'Mobile is a unique channel in so many different ways,' says Michael McEvoy, managing director of the consultancy and author of the report. 'There's an opportunity to charge.'"

Wells Fargo Makes Text Receipts Available at ATMs
"Wells Fargo & Company (NYSE: WFC) announced today that in addition to its popular email or e-receipt option, it is introducing text receipts at its more than 12,000 ATMs across the country. This new service is available to all Wells Fargo Online or Mobile Banking customers who provide their mobile phone number. As the first bank to offer e-receipts to its customers at its ATMs in June 2010, Wells Fargo also is the first to introduce a text receipt option."

Mobile to overtake web at online bank
"ING DIRECT has launched a new mobile app designed to meet the demand of its growing mobile customer base, in response to the staggering 280% increase in mobile interactions in 2012. 'The consistent trend in web visits has been around 15% year on year, but this spike in mobile interactions is proof of ever-growing consumer demand and comfort to be able to ‘do’ while on the go,' said Executive Director Distribution at ING DIRECT, Lisa Claes."

Most Wanted Mobile Banking Feature: RDC
"Remote Deposit Capture, is the most wanted feature by mobile banking customers, according to a new mobile banking study conducted by ath Power Consulting. Users also ranked Voice Authentication and Mobile Photo Bill Pay high in the 2013 ath Power Mobile Banking Study, released just this March. The study was the second mobile banking study ath conducted since last year. One in 3 mobile banking users are more likely to pay for mobile banking now than they were just a year ago, when 1 in 5 stated they would pay for the service. As part of the research, ath studied 3,201 mobile banking customers from 380 banks and credit unions, while 223 current mobile banking users from 35 institutions were asked to login and perform specific tasks."

Bay Banks in Va. to Add Mobile Banking, Close Branch
"Bay Banks of Virginia (BAYK) in Kilmarnock plans to close a branch and begin offering mobile banking. The $327 million-asset company will consolidate three branches in Northumberland County into two, it announced Wednesday. It plans to close its branch in Heathsville on Sept. 30, while retaining its Burgess and Callao locations, it said."

Ally Bank Wins Customer Experience Award for Ally Mobile Banking App Design
"Ally Bank recently received three recognitions underscoring its customer-centric philosophy and commitment to offering consumers straightforward products and services. The Bank was awarded Forrester's 2013 "Outside In" Award in the Customer Experience Design category for its innovative and customer-friendly design of Ally Mobile Banking, the app that allows customers to conduct a wide range of banking tasks via their Android™ or iPhone® smartphones."

Friday, June 28, 2013

Mobile Banking Updates - June 28

Bank of Botetourt Selects Fiserv for Account Processing, Citing Enhanced Integration and Expanded Product Offerings
"Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Bank of Botetourt has chosen the Precision® bank account processing platform, along with a host of customer-facing solutions, including online banking, bill pay, mobile banking, social payments and remote deposit capture. Headquartered in Buchanan, Va., the $320-million bank expects to increase efficiencies through integration offered by Fiserv solutions and by moving from in-house processing to an outsourced delivery mode."

United Texas Bank Selects Q2ebanking Platform to Accelerate Unified Virtual Banking for Anytime Anywhere Access
"Q2ebanking (Q2), the leading provider of enterprise solutions for secure virtual banking, today announced that Dallas-based United Texas Bank has selected its platform to provide a unified ebanking experience for its growing base of retail and business customers. With the implementation of Q2platform, United Texas Bank will empower customers to engage with its world-class virtual branch anytime, anywhere, on any device."

Research and Markets: Mobile Payments 2013-2017
"Analysis and forecasts for the worldwide market for mobile payment services, including mobile wallet services and NFC technology. Now published in it's 3rd all-new edition, Mobile Payments offers you detailed analysis of international mobile commerce markets, including the growth of mobile wallet services, the highs and lows of NFC technology and the growth of mobile banking and remittance services. This detailed all-new report includes all the market sizing data and 5 year forecasts you need, plus case studies, country-market assessments, vendor profiles and more."

CSI puts a new 'SPIN' on P2P payments
"Computer Services Inc., a provider of end-to-end technology solutions for FIs, has introduced its Social Payments Instant Network, which enables banks to provide customers with greater P2P payment functionality through CSI mobile and Internet banking applications. Traditional P2P providers let consumers send payments to others via Internet or mobile banking, but the process requires a series of steps and multi-day waiting periods for processing before the funds are available to the receiver."

ACI Worldwide Survey: EMV Will Accelerate Adoption of Mobile Technologies, Industry Monitoring Mobile Wallet Adoption
"ACI Worldwide (NASDAQ: ACIW), a leading international provider of payment systems, today released the results of a new survey of banks, retailers and payment processors that sheds new light on industry trends related to EMV, mobile payments and banking, fraud and innovation. This survey was conducted at the 2013 ACI Americas Exchange conference in Boston, MA from June 4-6, 2013. Visit www.aciworldwide.com/ExchangeSurvey for more information."

Bank Millennium SA : Mobile Banking for Companies wins 2013 Market Pearl
"Bank Millennium Mobile Banking for Companies won the first place in the "Best Banking Offer" category of this year's "Market Pearls - Retailers' Choice" competition. It owes its victory to the votes cast by independent market experts i.e. the customers. The awards were presented at a Gala ceremony on 13 June 2013 in the Warsaw Sheraton hotel. In the "2013 Market Pearls" competition products submitted by manufacturers and distributors were voted on by shop-owners and staff, who selected the ones, which worked best and helped generate yield."

Andera’s oFlows Platform Named Intuit Financial Services’ New Account Opening Solution
"Andera, Inc. announced an expansion of its strategic partnership with Intuit Financial Services whereby Andera’s oFlows platform will be the new account opening technology for Intuit’s financial institution clients. Andera’s oFlows platform is a full account origination suite, with support for both deposits and loans, across the computer, tablet, mobile phone, branch and call center channels. With oFlows, financial institutions can increase their operational efficiency as they reduce the number of tools and products internally used to support the opening of accounts. For example, oFlows can save both the consumer and the financial institution time with the ability for applicants to leverage their mobile device to securely and rapidly attach identity-verifying documents directly to their application for a new account."

Thursday, June 27, 2013

Mobile Banking Updates - June 27

Is Mobile Banking Safe? "
Arxan CEO Mike Dager on the emerging threat to mobile devices and banking apps."

The Rise of Mobile Technology in Higher Ed
"Between the ever-expanding popularity of tablets and the continued rise of smartphone ownership, all evidence points to an unabated focus on the adoption of new mobile devices and innovative technologies. According to a study by the Online Publishers Association, smartphone owners have increased by 44 percent between 2011 and 2012 and that figure is expected to increase to 57 percent during 2013. As mobile device adoption has increased, so, too, have the number of new applications. From mobile banking to real-time entertainment, there's seemingly no end to what Americans have come to expect from their mobile lifestyles. And, higher education is a market where mobile technology is playing an especially prominent role."

M-commerce transactions to reach $3.2 trillion by 2017, says Juniper
"Mobile commerce transactions are forecast to exceed $3.2 trillion by 2017, up from $1.5 trillion this year, according to the latest research from Juniper Research. This projected increase will be fueled by mobile banking, which will account for the "lion's share" of transaction value over the next five years, the research firm estimated."

Survey: Rising Willingness to Pay for Enhanced Mobile Banking
"New research from Boston-based financial services consulting firm ath Power underlines the immense popularity with consumers of mobile remote deposit capture ('the most sought after mobile banking feature,' said ath Power executive Michael McEvoy) and it also claims that there is rising consumer readiness to pay fees for mobile banking. In last year’s ath Power survey, 81% of respondents said they would not pay for mobile banking. This year, said McEvoy, that number dropped to 68%. That means about one in three say they might pay for the service, stressed McEvoy."

Grappling with the mobile money conundrum
"There is little doubt that mobile banking, mobile commerce, mobile money — pretty much any financial service preceded by the word "mobile" — are generating an outsized amount of hype. But all that hype is not reason to discount the very real impact that mobilized financial services are going to have on banking. A new publication called "Mobile Banking: Financial Services Meet the Electronic Wallet," sums it up the state of the industry succinctly:"

Wednesday, June 26, 2013

Mobile Banking Updates - June 26

App of the day: Barclays Mobile Banking review (Android)
"It makes the world go round but you can't buy love with it. It walks, it talks, it's the root of all evil, but all we want is dirty cash. The country has none, but fortunately banks do, and some of that filthy lucre goes into app development. Mother always said that if you look after the pennies, the pounds would look after themselves, and this app might just make that easier. Today, we're looking at Barclays Mobile Banking."

Banks Turn to Fees to Make Mobile Pay
"At the recent Mobile Banking Summit in Miami, a question bankers raised several times was, how do we make money off mobile banking? Mobile app development projects can cost $1 million to $5 million, and often boards and executive committees want to see some kind of return on investment before approving such projects."

Putting Digital ‘Tech Champs’ in Every Branch Location
"Hands-on demonstrations can convince wary consumers that digital banking tools are both safe and simple. Millions of consumers have gleefully jumped on the online and mobile banking bandwagon. But there are millions more who still haven’t. What’s holding them back? Among those yet to embrace modern, web-based banking channels, some admit they are intimidated by new technologies, while others say they distrust the security of internet-connected devices particularly for financial activities."

Mobile Banking Exec Tracey Weber to Leave Citi
"Tracey Weber, Bank Technology News' Mobile Banker of the Year for 2012, is planning to leave Citigroup at the end of June. The bank says she is leaving "to pursue other interests." (Weber was not available to comment.) Her position — head of the North America Internet and Mobile and Global Product team — will be filled by Melissa Stevens, a 15-year veteran of the bank."

Mobile banking gets smarter
"Dan Brower fished a much-awaited check from his mailbox but didn’t have time to swing by his bank’s branch. So the Kansas City resident fired up his two-week-old iPhone, and with just a flick of his finger — disappointment. Commerce Bank’s mobile banking application doesn’t accept deposits. 'It’s funny because with PayPal’s app, you can take a picture of your check and put it in your PayPal account,' Brower said. Mobile banking apps are widely available, they don’t all do the same things. A photo-based check deposit tool is coming soon to Commerce’s bank app."

TD Bank's Mobile Site, ATMs Running Again After Hour-Long Outage
"TD Bank (TD) is back up and running again after an internal glitch downed its mobile banking site and in-store ATMs Tuesday afternoon, temporarily impacting customers’ ability to withdraw cash and check their balances. A spokesperson for the Toronto-based bank confirmed the outage and said it was related to an internal system glitch, not a cyber attack like the one responsible for hitting TD's consumer website in March. The system went down around 3:30 p.m. ET on Tuesday and resurfaced about an hour later. While its-store computers were down, TD said it used a manual system to handle customer business."

Tuesday, June 25, 2013

International Mobile Banking Updates - June 25

Ethiopia: Mobile Banking Game-Changer in Ethiopia
"New regulations will bring m-banking to Ethiopian consumers, but limits on the companies involved and how transactions must be managed could slow growth. On 1 January 2013, the National Bank of Ethiopia (NBE) issued a long-awaited directive that allows transaction-based mobile banking. This is a report by theafricareport.com. Four major players Commercial Bank of Ethiopia, M-BIRR, BelCash and Zemen Bank's z-Birr are expected to begin operations later this year, making Ethiopia one of those African countries adopting this technology."

UAE adopts measures to encourage wider use of mobile banking
"The central bank of the United Arab Emirates (UAE) has urged the two local telecom providers Etisalat and Du to slash fees for mobile phoning and SMS services in order to increase the usage of mobile banking, local news agency WAM reported Tuesday. The central bank issued a statement on mobile banking following a meeting hosted by central bank governor Sultan Al Suwaid on Monday."

Think like Amazon to beat superficial mobile banking: ANZ Bank CIO
"Banks will "need to operate more like Amazon" as they fight technology-driven loss of intimacy with services tailor-made to prevent customer churn, the CIO of one of the Asia-Pacific region's largest banks has advised. 'While mobile banking may improve [customer interaction] channels, they also carry the risk of allowing the customer relationship to become more remote if the transactions are purely transactional,' ANZ Bank CIO Anne Weatherston told FST Media's recent Future of Banking and Financial Services Technology conference in Melbourne, Australia."

Banks start charging money for SMS alerts, mobile banking
"In another example of cartelization among bankers, several banks have increased or started imposing charges for transaction alerts through SMS as well as for mobile banking. As usual, private lenders have taken the lead, which soon would be followed by nationalized banks. There is no free lunch says a popular adage. Our banks, having lured consumers with ‘free’ services, have now started charging for them or hiking already existing fees to fatten their bottomlines. So far this year, many banks have started charging for SMS alerts on transactions and hiked the annual fees on debit/credit cards. A few banks have even increased charges to deposit cash in your accounts. The list includes large banks such as ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank and Canara Bank. Here are some areas in which charges have been increased."

Kenyan banks face challenges with secure online transactions
"A weak legal regime, fraud and security weaknesses have stymied the growth and adoption of online banking in Kenya, according to industry insiders. International banks such as Standard Chartered and Barclays have ventured into online services but not as successfully as in other markets. Standard Chartered recently launched a paperless branch, where all transactions are virtual, while Barclays launched a banking app aimed at attracting more mobile and online users."

Monday, June 24, 2013

Mobile Banking Security - June 24

Be safe with mobile banking
"Gone are the days when you wait for the bank to mail a bank statement and you balance your account before you spend any more money. Many of us now rely on online banking on our computer, smart phone or tablet. We check our accounts often and rely on this to make financial decisions."

Biometric Authentication Provides Better Mobile Device Security, Heavy Reading Finds
"Biometrics Offer Promise for More Secure Smartphones examines the market for biometric authentication on smartphones, analyzing the most lucrative verticals for the market, and discussing drivers and challenges in the industry. It includes a comparative analysis of solutions available and details trends that will likely occur in the industry over the next 18-24 months."

Double Cashing With Mobile Banking
"The case of a Kentucky man arrested this month for using mobile banking to steal thousands of dollars from a local supermarket chain highlights the security loopholes that thieves can exploit in mobile check deposit schemes being deployed by financial institutions across the country."

Five Tips for Mobile Banking
"In this tech-savvy world, everything is readily accessible and convenient…even banking. Gone are the days of waiting in line at the bank or even waiting for the computer to boot up. Now, bank accounts are accessible from anywhere in the world via a smart phone or tablet. But consumers need to be more cautious than ever when banking through any device, as hackers can prey on the unsuspecting."

"Earlier this month, US prosecutors took down the global currency exchange Liberty Reserve and charged it with being the largest online money laundering operation in history, the “bank of choice for the criminal underworld.” More than a million customers used the Costa Rica-based company to wash more than $6 billion,according to an indictment. Besides drug traffickers, it alleged, Liberty Reserve’s illicit users included a wide array of gangsters and thugs, and criminal organizations engaged in credit card and investment fraud, identity theft, computer hacking, and child pornography."

Mobile banking software flaw adds to consumer wariness
"Customers of Britain’s Royal Bank of Scotland Group, which includes NatWest and Ulster Bank, were recently saddled with the latest in a string of technical errors when an outage in the bank’s mobile app occurred. The outage, which lasted around two and a half hours, heightened concerns about the integrity of bank IT systems, particularly given other recent software troubles at RBS."

Extension News Column ~ Mobile Bank Safety
"Gone are the days when you wait for the bank to mail a bank statement and you balance your account before you spend any more money. Many of us now rely on online banking on our computer, smart phone or tablet. We check our accounts often and rely on this to make financial decisions. More than three million people used mobile banking last year, up 10 times over a year earlier. If you’re not yet using your phone to check your balance, pay your bills or move money from account to account, you will soon."

Sunday, June 23, 2013

Mobile Banking Updates - June 23

Mobile banking trends continue to expand 
"When was the last time you went to the bank? We took the question to Nicollet Mall.'6 months ago, maybe?' was the first response we got. 'Does an ATM count? I would say I went a couple of months ago with my kids, to cash their piggy banks,' was the second answer we got."

Must-Have Mobile Banking Services In 2013
"As much of the country has become mobile-reliant, it makes sense to check out the available mobile apps and features in regard to your banking needs. Mobile apps can be useful in many ways, especially when you’re on the go and need to take care of your finances. Apps make it easy to keep track of your bank accounts as well as your personal finances as a whole."

Mobile banking shifts into overdrive
"Online banking was a big hit with customers from the start. They loved being able to sit at their home computer and pay bills with a keystroke, or check account balances with ease. Today, electronic screens are smaller, but online banking, and its latest incarnation – mobile banking – is bigger than ever, said Bill Russell, executive vice president of retail banking at Bell State Bank & Trust, which is based in Fargo."

Banks embrace mobile as trend picks up speed
"Mobile banking is rapidly shifting some customers' expectations of the total banking experience, digital strategy executives in the industry say. 'Mobile is the fastest-growing channel in the company's history,' said Armin Ajami, vice president for mobile products management at Wells Fargo. 'It's far surpassed online.' The ratio of Americans using mobile banking, from downloadable apps to texting services, grew from one-fifth in 2010 to one-quarter in 2011 and to one-third in 2012, according to Javelin Strategy and Research. Bank executives say that in addition to new users, more people are using multiple services."

Banking now going mobile
"Dan Brower fished a much-awaited check from his mailbox but didn't have time to swing by his bank's branch. So the Kansas City resident fired up his 2-week-old iPhone, and with just a flick of his finger -- disappointment. Commerce Bank's mobile banking application doesn't accept deposits."

ING Direct adds remote cheque deposit to mobile app
"Banking at ING Direct just got more simple and convenient. Beginning today, clients can deposit cheques into their accounts remotely using Cheque-In, a new feature of the bank's existing mobile app. Cheque-In allows clients to take a picture of their cheque using their mobile device and have it deposited immediately into their ING DIRECT account. The feature is the first available on all major platforms, including Apple iPhone, iPad, iPod, Android Phone, Android Tablet, BlackBerry Mobile devices with BB10 OS, and tablets running Windows 8."

Want To Stand Out As A Retail Bank? Try Customer Centricity
"Just last month I decided to invest some of the cash I had in my bank’s money market with the bank’s brokerage services. I met with the rep at my local branch, signed the papers, and left smiling. Five days later, having received no paperwork – no nothing – I went back to the branch. My rep was on vacation, and the folks on the floor knew little about brokerage services. Excuse me?"

Thursday, June 20, 2013

Mobile Banking Updates - June 20

Using Mobile Banking to Expand Financial Access
"According to the FDIC’s “2011 Survey of Unbanked and Underbanked Consumers,” approximately 17 million adults in the United States, or 8.2 percent of the population, do not have a checking or savings account—a group known as the “unbanked.” Another one in five households in the United States are “underbanked,” meaning they do have some sort of bank account but still use alternative, nonbank financial-services providers such as check cashers and pawn shops."

Credit union fills branches with 'technology champions' to push mobile services
"An American credit union has put a 'technology champion' in every one of its 76 branches to help members get up to speed with its mobile and online services. As more consumers turn to digital channels to conduct their daily banking transactions, the downward trend in branch activity levels is accelerating, fuelling the debate over the value of branch networks in a 21st century banking model."

What do mobile banking users want most?
"With the rise of plastic and digital transactions, the use of paper checks continues to decline — the Fed processes less than one-third of the checks it did two decades ago. But even with fewer checks in circulation, the most desired improvement to mobile banking is the ability to deposit checks. Nearly one-quarter of mobile banking users polled in the 2012 Fiserv Consumer Trends Survey selected check deposit as an improvement they'd like to see in their mobile banking application."

Wednesday, June 19, 2013

International Mobile Banking Updates - June 19

Net banking: How it helps you save time and money
"Did you know that approaching a bank branch to get a duplicate account statement can cost you around Rs 100, while the same could be had at half the price through online banking? Similarly, a stop payment request that costs upwards of Rs 50 through traditional banking channels is a free service for those who opt for net banking."

Customers take leap into mobile banking
"The number of bank customers who use mobile phones and iPads is growing at breakneck pace, with billions of dollars of transactions now taking place every month. Major banks say the speed that customers had taken up mobile and tablet banking is running much faster than the rate at which they took to internet banking. They say the technology is also changing the way people do their banking, challenging the definition of traditional banking hours."

CaixaBank hosts international forum for mobile banking experts
"CaixaBank will be hosting MobeyDay 2013 in Barcelona, bringing together financial institutions from all over the world, as well as network operators, technology providers and consultancy firms specialising in mobile banking. The international Mobey Forum meeting organised in association with Finextra will be held at CaixaForum in Barcelona, tomorrow, 11th of June 2013."

The mobile banking game-changer in Ethiopia
"New regulations will bring m-banking to Ethiopian consumers, but limits on the companies involved and how transactions must be managed could slow growth. On 1 January 2013, the National Bank of Ethiopia (NBE) issued a long-awaited directive that allows transaction-based mobile banking for the country's unbanked citizens."

Meethaq launches state-of-the-art cloud mobile banking application
"Meethaq, the pioneer of Islamic banking in Oman from Bank Muscat, on June 11 launched a state-of-the-art mobile banking application redefining Islamic banking with the concept of ‘24/7 anytime, anywhere’ service. The Meethaq Cloud Banking application offers a wide range of unique features. The smart mobile app, which is quick and easy to download, provides a secure and convenient 24/7 access to the account."

Village Bank updates mobile banking
"Village Bank, based in Midlothian, has announced the launch of a new and improved mobile banking service for personal banking customers who use a smart phone or other web-enabled phones. Mobile Banking is a free service that allows personal banking customers to access account information, view transaction history, transfer funds and find a branch location or ATM from their mobile device."

Why Mobile Technology is Bad for Some Businesses, Great for All Consumers
"Here are some of the estimates and statistics we’ve plucked from a McKinsey Global report we mentioned last week:
 * 1.1 billion people currently use smartphones and tablets, with a potential to reach two billion to three billion more.
* The processing power of the average smartphone has increased by about 25% per year over the last five years.
* By 2025, nearly 80% of all internet connections could be through mobile devices.
* Near field payments grew 400% in 2012 and are expected to increase 20 fold by 2016."

Tuesday, June 18, 2013

Mobile Banking Security - June 18

POLICE: Louisville man steals thousands via mobile banking
"A Louisville man has been arrested after police say he used mobile banking to steal thousands of dollars from multiple Kroger stores. Police say 34-year-old Boma Robert Spero-Jack went into several different Kroger stores and purchased at least 32 Western Union money orders. Each money order was issued for an amount between $195 and $500, according to an arrest report."

Mobile Banking On Unsecure Wireless Networks Is Risky Business
"Mobile banking is exploding. According to a new study from Yodlee Interactive, while physical banks continue their decline, nearly a third of U.S. adults with a bank account say they use a mobile device to access their banking information. The study conducted by Harris Interactive found that close to half of those with a bank account access their banking information on their smartphone compared to 36% of tablet owners who have a bank account."

Lenders work to make mobile banking safer and more convenient
"As more and more people use smartphones for everything from paying bills to making deposits and checking statements, banks are working to meet customer demands for faster and securer mobile options. A March report by the Federal Reserve shows that as of Nov. 28 percent of all mobile phone users and 48 percent of smartphone users had used mobile banking in the past 12 months. This was an increase of 7 percentage points from December 2011."

New Breed of Banking Malware Hijacks Text Messages
"Out of band authentication — communicating with a customer outside of his mobile banking app to verify his identity or a specific transaction — is a generally respected means of deflecting mobile banking fraud. But RSA's Anti-Fraud Command Center on Monday found and reported on a Trojan called Bugat that has been updated to hijack out-of-band authentication codes sent to bank customers via SMS. This doesn't mean out-of-band authentication via text messaging is useless, but it can be compromised using a dated, unsophisticated piece of malware."

Considering Mobile Authentication: The Why, the What and the How
"It's the single biggest banking innovation of our lives. Mobile banking is quickly becoming the channel of choice for customers, forcing banking institutions to deploy mobile solutions ahead of their strategies. What are the risks? How can institutions deputize customers to ensure mobile banking security? Join banking and security leaders from Citibank and VASCO Data Security for a frank discussion about how to create a mobile banking roadmap, including:"

Faces of Fraud: New Survey Debuts
"How are banking institutions responding to increasing cross-channel fraud attacks, and where are they making their biggest investments to enhance authentication for online and mobile banking? These are just two of the questions posed by our annual Faces of Fraud Survey, which we just launched. If you have not yet responded to this survey, please take a few moments to participate: 2013 Faces of Fraud: The Threat Evolution."

Sunday, June 16, 2013

Mobile Banking Updates - June 16

What Tops Consumers' Mobile Banking Wish List?
"As plastic and digital transactions boom, the use of paper checks is in decline. Although checks still represent about 20 percent of all non-cash payments, the Federal Reserve processes less than a third of the checks it did 20 years ago. With fewer checks in circulation, you may be surprised to learn that the most desired improvement to mobile banking is … the ability to deposit checks."

Big data to drive banks' mobile wallet strategies - Finextra research
"Research from Finextra finds that banks around the world are looking to discounted offers and big data analytics to beat off the competition from telcos and tech start-ups as they battle for control of the consumer mobile wallet. For the research - conducted on behalf of Clear2Pay and NGData - Finextra surveyed more than 183 bankers on the key issues around the monetisation of mobile payments."

Itinerant customers embracing mobile banking faster than military banks expected
"Many banks treat mobile banking like an ancillary service channel, but it’s quickly becoming the main game for the highly-mobile customers of USAA and Australia’s Defence Bank. The head of customer strategy for military bank United Services Automobile Association (USAA) admits to being “a little scared” after recently watching mobile banking services usage rocket past the levels initially expected by the end of 2015 — but he relishes the challenge as USAA and contemporaries like Australia’s Defence Bank embrace new technologies to keep the personal touch."

Banking goes mobile
"Dan Brower fished a much awaited check from his mailbox but didn’t have time to swing by his bank’s branch. So the Kansas City resident fired up his 2-week-old iPhone, and with just a flick of his finger — disappointment. Commerce Bank’s mobile banking app doesn’t accept deposits."

Portland banking startup Simple raising more money, filing suggests
"Portland online banking startup Simple Finance Technology Corp. is raising more money, according to a regulatory filing this afternoon. The filing suggests Simple, as the company is known commercially, has raised $2.3 million in new investment. But such filings often give an incomplete picture, and Simple said it will have more to say soon."

KeyBank Expands Mobile Capabilities for Commercial and Consumer Clients
"KeyBank is making banking more convenient for all clients - commercial and consumer - to manage money while on the move with an expanded suite of mobile banking services. 'We're seeing double-digit growth in our clients' use of consumer mobile banking, and we know our commercial clients have increasing interest in mobile,' said Matthew D. Lehman, head of KeyBank's Community Bank online and mobile banking. KeyBank's mobile banking use increased by 45 percent between 2011 and 2012."

Popular Community Bank Launches New iPad App in Latest Expansion of Mobile Banking Platform
"Popular Community Bank,* a subsidiary of Popular, Inc. and one of the nation’s premier community banks, expanded its “anywhere, anytime banking” program with the launch of its new application optimized for the iPad, available at the Apple iTunes store. The Popular Community Bank free iPad app compliments the bank’s iPhone® and Android™ apps, Business Mobile Banking and recently enhanced Internet banking. Through the iPad app customers can:"

Thursday, June 13, 2013

Mobile Banking Updates - June 13

Wolberg-Stok at Citi Aims for a Single, Globetrotting Mobile App
"Andres Wolberg-Stok was promoted about a year ago to global mobile and tablet banking director at Citigroup. 'It's a bigger field in which to inflict damage,' he jokes. So far this year, he's traveled to Singapore, Mexico, London and Brussels. 'It keeps us true to the old motto, the Citi never sleeps. Having a global team in with members in the US, Europe and Asia is extraordinary because the sun never sets on the team, people are always working. You can get a lot done.'"

Mobile Banking Seen Needing Improved Authentication, ID Verification
"Financial institutions need to step up the security they provide for mobile banking, experts on a panel at the Mobile Banking Summit agreed today. 'Facebook, Gmail, Twitter, and World of Warcraft all have multi-factor authentication,' says Robert E. Lee, business analyst at Intuit. 'If you're a bank and still using challenge questions, I have to ask you, why is your security worse than an online video?'"

Riding the Wave of Mobile Banking
"Smartphones have created a consumer demand for all lifestyle tools to be packaged in one neat space that we keep in our pocket and can access on the go, from any location. Improvements in security and performance have resulted in an increasingly confident consumer that is more open to banking through their phones. Mobile dominates our social and business lives – and this is just the start of it. To that effect, over the last few months there has been a noticeable spike in the number of financial institutions who integrate mobile into their banking offering, perhaps as part of wider projects to revamp legacy systems."

Mobile Bankers Applaud Obama Plan to Crack Down on Patent Trolls
"The plan President Obama announced Tuesday to crack down on patent assertion entities or "patent trolls" — companies that buy up patents to extract licensing fees — was met with approval by attendees at the Mobile Banking Summit in Miami. Obama's plan would require patentees to file updated ownership information when filing a claim. It would let courts award attorneys' fees as a sanction for abusive court filings. It would permit a wider range of challengers to petition for review of issued patents before the Patent Trials and Appeals Board. It would protect consumers and businesses from legal liability when they use a product off the shelf and solely for its intended use."

Should A Bank Outsource Its Mobile Strategy?
"Now more than ever before, banks need to be able to offer their customers innovative digital services, and bank IT spending trends point to this conclusion. According to U.K. analyst group Ovum, mobile banking is the clear IT investment priority in 2013 among the digital channels, as retail banks attempt to capitalize on the features unique to mobile, such as location-based services. According to a report from the firm released earlier this year, spending on digital channels, which includes mobile, will grow 6.7% in North America in 2013 and rise at a compound annual growth rate of 8.2% between 2013 and 2017."

Wednesday, June 12, 2013

Mobile Banking Updates - June 12

B of A's Gopalkrishnan Uses 'Hackathons' to Create Mobile Apps
"Like most of the bankers we profiled this year, Hari Gopalkrishnan, managing director, consumer and wealth management, ecommerce technology, consumer banking architecture and segments technology executive for Bank of America Merrill Lynch speaks of simplicity in mobile banking design and user experience."

Feeling Insecure About Mobile Banking? You're Not Alone
"It's a scary cyber-world out there, and fear concerning Internet security is one of the top reasons that bank customers avoid mobile banking. For banks, expanding mobile offerings is win-win, enabling them to shutter expensive branch locations while opening newer, more modern spaces that cater to banking via the Internet. So, what do banks need to do to assuage customers' fears about mobile banking -- and, more importantly, what is being done to improve security measures to protect consumers' private information?"

Wells Fargo & Co (WFC), Bank of America Corp (BAC) & Citigroup Inc (C): Feeling Insecure About Mobile Banking? You’re Not Alone
"It's a scary cyber-world out there, and fear concerning Internet security is one of the top reasons that bank customers avoid mobile banking. For banks, expanding mobile offerings is win-win, enabling them to shutter expensive branch locations while opening newer, more modern spaces that cater to banking via the Internet. So, what do banks need to do to assuage customers' fears about mobile banking -- and, more importantly, what is being done to improve security measures to protect consumers' private information?"

Blackhawk and Monitise in mobile gift card partnership
"Blackhawk Network and Monitise are partnering to make mobile gift card purchasing available to consumers through certain banks and financial institutions in the US. In addition, the companies intend to expand their relationship into additional markets. Prepaid gift cards from Blackhawk Network's popular GiftCardMall will be available to consumers for purchase from participating banks and payment companies' mobile wallets, powered by Monitise. With this new relationship, Blackhawk's extensive network will integrate into Monitise's mobile banking ecosystem, making it easier for consumers to purchase Blackhawk gift cards from popular retail brands via mobile."

Mobile Banking Is Mainstream — What About Security, ROI, Payments?
"Sitting alone at the back of a hotel meeting room, Theodore Iacobuzio had a stern message for bankers: "The train is leaving the station," said Iacobuzio, a MasterCard executive, referring to the emerging mobile payment economy. 'You have to get on.' Earlier that Wednesday, Iacobuzio had spoken on a panel at the Mobile Banking and Commerce Summit in Miami about using data to drive relevant offers to cardholders. Mobile banking and payments are at the forefront of his mind."

Threat of the Week: Mayhem in the Mobile Browser
"It’s coming. For the past five years warnings of a coming assault by cybercriminals on mobile banking have kept getting louder. Yet the plain fact is that successful attacks on the mobile channel in the United States have been scarce. 'Mobile threats remain nascent,' said Vince Arneja, a vice president at security firm Arxan. But just maybe that’s about to change, mainly because more cyber crooks are putting more energy into mobile and, lately, there are signs that the bad guys are starting to cash in on a vulnerability that is found on just about every smartphone."

Consumers Calling the Shots in Mobile Banking
"In mobile banking, customers are faster at conveying what they want than banks are at delivering the goods. That was one of the main messages conveyed by a panel of bank technologists at the Mobile Banking and Commerce Summit on Tuesday. The customer in control marks a wild transformation from years past, when banks waited for account holders to call them. Such a passive communication approach is no longer acceptable for financial institutions."

Tuesday, June 11, 2013

International Mobile Banking Updates - June 11

ING Direct Canada Tests Low- and High-Tech Touches
"ING Direct Canada is testing an onboarding process that will reduce by 80% the number of questions that new customers have to answer. Charaka Kithulegoda, chief information officer of ING Direct Canada, said during his keynote address at the Mobile Banking and Commerce Summit that the bank aims to halve what has been a five-minute process. ING Direct is also running authentication pilot programs of voice and facial recognition biometrics with an aim to enhance security and customer trust. It plans to start offering mobile remote deposit capture to its customers this month."

"Telefonica, a leading Spanish telecommunications company, has announced a new partnership with CaixaBank and Santander in order to create a joint venture that aims to develop a new mobile banking solution that include launching a mobile wallet service for consumers. Mobile commerce has been showing strong growth throughout Europe, leading many telecommunications companies to make their way into this space in order to meet the changing needs of consumers. Banks have also been taking note of this trend and have been following in the footsteps of telecommunications companies."

NerdWallet: Will Mobile Banking Change The Way We Bank?
"In the past year, banks and credit unions across the country have rolled out mobile banking services for smartphones and tablets to meet a rapidly rising demand. The ease and efficiency of mobile banking is its greatest advantage, allowing consumers to make payments, check balances, transfer funds, speak with bank or credit union representatives, and quite often, deposit checks, without ever entering a branch."

Banks battle mobile networks for hidden cash in townships
"Standard Bank Group (JSE:SBK) hired Itumeleng Heymann to persuade her neighbors that for about $6 a month, their cash would be better off with Africa’s largest lender than in its current hiding place: under the bed. For millions of Africans, a simple Nokia mobile phone acts as a bank account, allowing them to transfer funds with services like M-Pesa, run by Vodacom Group (JSE:VOD) and Safaricom. Now Standard Bank is turning to an army of 1,000 township residents such as Heymann as it tries to block Vodacom, South Africa’s largest wireless operator, and companies like it from muscling in on the nation’s expanding banking market as they have in Kenya, Tanzania and elsewhere. So far, the banks are winning."

Mobile Security: Lessons from Asia
"When it comes to mobile banking and payments, security risks are similar globally. But Western institutions can learn from innovative solutions now offered in the East, says fraud expert Tom Wills. Wills says banking institutions in some of Asia's most developed markets, including Singapore, are more willing than their U.S. counterparts to involve consumers in security measures. 'I've found that financial institutions here are very willing to embrace security and to get their consumers involved in securing their own financial assets,' he says during an interview with Information Security Media Group."

Diamond Bank to power branchless banking with new technology
"IN recognition of the huge role technology plays in service delivery, Diamond Bank is to deploy BankOne mobile application to boost its branchless banking strategy in the country. BankOne, a mobile banking application, allows instant account opening and registration. The application is designed and developed by AppZone, a fast-growing technology company. The integration of the branchless banking on the BankOne platform will allow Diamond Bank acquire and easily migrate all mass market accounts and ensure customers get quality service."

Tech-no thanks: Payment phobia more common than fear of spiders
"Fear of mobile banking and contactless cards affects 26% of us – that’s more than the number who are scared of spiders at 25%, according to PayYourWay.org.uk the Payment Council's education campaign. This phobia is costing us time and money as more than a fifth have wasted time queuing to check a bank balance and one in seven has incurred a late fee because they missed a payment. It is the risk of thieves gaining access to bank accounts and personal information that holds many of us back. The Payments Council says there is no need for these fears because the latest ways to pay are safe and easy to use and banks have ­measures to protect customers such as encrypted websites, security software, deactivation of login details if a number of incorrect attempts are made and varying types of authentication processes."

Comparing American and British Consumer Mobile Banking Habits
"In late May, United Kingdom payment-network operator VocaLink released survey results from British consumers about mobile banking and payments use. The results reinforced the trend mobile payments are gaining traction with consumers as 50 percent of respondents stated they are either already or interested in using mobile payments in the near future."

Banks need to improve their digital offerings
"Banks can enhance customer experience and enable sales at the same time by creating more personal interactions through their mobile offerings. The latest World Retail Banking Report by Capgemini and Efma showed that the quality of a bank’s mobile service can significantly influence a young customer’s decision to choose or switch banks. Older customers, in contrast, tend to rely more on traditional banking channels. 'As early and adept users of mobile, young customers are more likely to choose or leave a bank because of the quality of mobile services it offers,' the report said."

Online banking: "Act quickly after transfer mistakes"
"People who enter incorrect bank details when transferring money online are being urged to act quickly after making a mistake. The Financial Ombudsman Service says the money is easier to get back if an early warning flag is raised. But delays or grey areas of the law can make retrieving the money awkward over time. And those who are credited with the money by accident are being encouraged to own up."

Consumers slow to embrace mobile banking
"Mobile banking still accounts for less than 10 per cent of the value of digital transactions, despite the rapid growth in customers managing their finances on the go. As consumers embrace smart phones, the number of Australians with mobile banking has rapidly increased. The number of mobile banking customers surged to 6 million earlier this year, and is tipped by banks to overtake banking through traditional websites in years to come."

Sunday, June 9, 2013

Mobile Banking Updates - June 9

The Quest for Simplicity in Mobile App Design
"We heard it again and again from Charaka Kithulegoda and other bankers honored in our Mobile Banker of the Year package this year: simplicity and ease of use are the keys to sound mobile banking app design. 'People don't live to bank, financial institutions exist to serve their needs,' observes Hari Gopalkrishnan, a managing director at Bank of America."

You Talking to Me? How Voice Is Revolutionizing Mobile Banking
"Want to race? Pull up your mobile banking app, enter bill pay data, click pay. I'll use my voice to log in - no keying in the password - and simply tell the app whom to pay, how much. Who will be faster? Who will get the job done with less irritation? And with none of the miskeyed entries that turn so much mobile banking into an exercise in angst."

The 5 Biggest Pain Points for Mobile Banking
"I just attended and presented at the Mobile Banking and Conference Summit in Miami. Now in its seventh year (mobile banking existed in 2006?!?), the conference was an exploration of how financial institutions are being influenced by, and taking advantage of, the mobile channel and mobile technology. A few hundred attendees, including mostly high-level executive, product, technology and marketing folks were there."

Finance on the fly with convenience of mobile banking
"'App. Snap. Deposit.' Sound easy? It is. Banking has become as simple as one, two, three. Manage your money on-the-go, anywhere, anytime, in the click of a button. Check account balances, recent transaction history, transfer funds and locate nearby branches and ATMs – all on your mobile device for free. The way of the future is now."

U.S. Bank's Badarinath Isn't Shy About Testing the Mobile Waters
"'In banking, there are few sustainable sources of competitive advantage,' says Niti Badarinath, senior vice president and head of mobile banking at U.S. Bank, Minneapolis. 'Product innovation is probably not a place where banks can truly distinguish themselves, especially in consumer banking. Pricing is also not a source of sustainable competitive advantage: you can change some rates here and there, but it's not something you can keep differentiating yourself on. Then it comes down to, how easy are you going to make it for your customers to access and manage their finances?'"

The ROI of Mobile Banking
"Today, the general consensus is that mobile banking capabilities are table stakes for financial institutions. While it's certainly true that consumers are coming to expect mobile banking, it should not be regarded as just another cost of doing business. Mobile banking actually delivers a compelling return on investment. Once a bank or credit union has the foundation of mobile banking in place, the addition of services like person-to-person payments and remote deposit capture can provide new revenue sources, as research indicates consumers will pay for such convenience-enhancing features."

BBVA Compass adds picture bill pay capabilities to its iPhone mobile banking app
"BBVA Compass today expanded its iPhone app with Picture Bill Pay, allowing customers to pay bills and add payees by taking pictures of their paper bills with their iPhones. 'We wanted our app to be as robust as possible since nearly 35 percent of those who take advantage of mobile banking manage their finances exclusively through their apps,' said Alejandro Carriles, director of self-service channels at BBVA Compass. 'Innovative and fun features like this allow us to improve and simplify those customers' experiences.'"

Thursday, June 6, 2013

Mobile Banking Updates - June 6

Time for Mobile Banking Apps 2.0: What Consumers Want from Mobile Banking
"In an early May report, the Credit Union Times called for a revolution in the world of banking apps, a “Mobile Banking 2.0″ that fixes the problems of the first forays into the field and yields real customer engagement. According to the article, the current generation of mobile banking apps are static and unengaging — at most institutions, the vast majority of interactions via the mobile channel take less than a minute. For younger consumers, these utilitarian functions do not impress. The ability to test out apps or at least look at screenshots online means that Internet-savvy customers can check out apps before they open accounts at banks. Financial institutions without interesting, value-adding apps stand to lose younger customers who choose banks based on how easy they are to operate through phones or tablets."

Desert Schools Federal Credit Union to Implement ACI Worldwide’s Online Banking, Bill Pay and Mobile Banking Services
"ACI Worldwide (NASDAQ: ACIW), a leading international provider of banking and payment systems, today announced that Desert Schools Federal Credit Union ($3.1 billion in assets) has selected ACI’s online banking and bill payment services to enhance its technology services to over 321,000 members."

Monitise to Lead Panel On Monetizing Mobile at Mobile Banking & Commerce Summit
"Monitise’s Lisa Stanton, executive vice president, payments & general manager – Visa Inc., will lead a panel on driving revenue through mobile on Tuesday, June 4, 2013, at the 7th Annual Mobile Banking and Commerce Summit. Panel participants include executives from Webster Bank, Cognizant and Blackhawk Network, and will provide financial institutions with specific models for creating revenue with a comprehensive mobile platform."

Mobile banking, demographics make financial institutions rethink branch strategy
"Is the era of mobile banking prompting banks to scale back their real-world presence? U.S. banks and savings and loans shut more than 2,000 branches in 2012, the Wall Street Journal reported last month, citing the research firm SNL Financial. The research firm AlixPartners expects total branches to decline from 93,000 to 80,000 over the next decade, the paper said. PNC Financial Services Group Inc. is closing 200 branches this year out of nearly 3,000. That includes two midstate branches scheduled to close July 19: the Parkview Branch at 886 Plaza Blvd. in Lancaster and the Windsor Park branch at 5288 Simpson Ferry Road in Lower Allen Township, said PNC spokeswoman Marcey Zweibel."

SWACHA Releases 2013 Mobile Banking Survey Results at Its First Annual Executive Leadership Payments Summit
"Consumers are quickly embracing the ability to handle their banking transactions from a cellular phone or tablet, according to a just released survey by Dallas-based SWACHA, one of the largest not-for-profit electronic payments associations in the country. The information from SWACHA’s 2013 “Consumer Insights Survey” was released today at its inaugural Executive Leadership Payments Summit in Dallas."

More complaints for NatWest after app crashes once again
"This morning (May 31st) saw NatWest receive several customer complaints after its banking app failed to load up on its users’ mobiles between 9.05am and 9.45am, the Telegraph has reported. NatWest took to Twitter to acknowledge the issue, tweeting from its customer service account. In response to one complaint, the firm tweeted: 'due to the overwhelming popularity of our app, we have experienced issues, which hopefully will be fixed soon.'”

Wednesday, June 5, 2013

Mobile Banking Security - June 5

Malware Threats Rise for Mobile Banking
"As apps shrink the gap between financial firms and their customers, banks are coping with new and growing risks that accompany mobile devices. Malware tailored to browsers made for miniature screens; scams aimed at duping smartphone users; hackers intent on phishing attacks meant to ensnare tablets — all the threats bankers deal with on the desktop have moved to people's pockets." Why is 

Mobile Banking Considered Unsafe?
"According to an American Banker survey conducted this year, the percentage of consumers who consider mobile banking “safe” or “very safe” actually fell in the last 12 months from 42% (2012) to 38% (2013). The continued low uptake of mobile banking clearly has a lot to do with security. (It doesn’t help either that more than half of those polled said that their banking needs are met without mobile banking, but that’s a topic for another blog.)"

Trusteer Provides Holistic Protection for Mobile and Online Banking Channels
"Trusteer, the leading provider of endpoint cybercrime prevention, today announced the Trusteer Mobile Risk Engine to protect financial institutions against mobile and PC-to-mobile (cross-channel) attacks. Trusteer Mobile Risk Engine detects and stops account takeover from mobile devices by conclusively identifying criminal access attempts. It also identifies devices that are vulnerable to compromise by malware and those that have been infected. Mobile malware is commonly used to bypass strong authentication methods such as SMS One-Time Passwords (SMS OTP)."

Tuesday, June 4, 2013

International Mobile Banking Updates - June 4

Visa likely to launch mobile financial services next year
"Visa Inc, a global payments technology provider, is expected to launch its own mobile financial services (MFS) platform in Pakistan next year, according to Kamil Khan, Visa’s Country Manager for Pakistan and Afghanistan. The players already operating in the mobile banking segment will be attached to Visa card, Khan told a group of journalists at a lunch at Sheraton Hotel on Wednesday."

RBI asks banks to expand internet, mobile banking reach
"The Reserve Bank of India (RBI) has asked commercial banks to expand the reach of internet and mobile banking services. 'We are going through an era of technological revolution,' said RBI Deputy Governor H R Khan at a workshop on e-Banking organised by Bank of India here on Thursday. 'And mobile and internet penetration is on the rise in the country. Therefore, banks need to formulate strategies to popularize mobile and internet based banking services.' Khan asked banks to also focus on elderly and pensioners besides urban clientele."

Ethiopia to sign mobile network deals with ZTE, Huawei
"Ethiopia will sign agreements with China's ZTE Corp and Huawei Technologies Co Ltd in a "few weeks" to expand its mobile phone infrastructure and double subscribers to 40 million, a senior Ethiopian official said on Thursday. ZTE Corp, China's second-largest telecoms equipment maker, has already been involved in developing phone and internet services in the Horn of Africa nation for several years."

Third world leads first in mobile banking
"Australia may be inching its way towards mobile money via phones and smart cards, but the world leader in this new technology is, of all places, Kenya. According to The Economist magazine, two thirds of the adult population - more than 17 million Kenyans - siphon 1.1 trillion shillings ($A13 billion) - more than a quarter of the East African country's gross domestic product - through what is the world's leading mobile money network."

Self-service banking can kill intimacy with customers: ANZ
"With in-branch banking on a decline, many financial institutions are focusing on their mobile and self-service strategies. But neglecting face-to-face banking reduces these companies' chances of building meaningful relationships with customers, according to ANZ CTO, Patrick Maes. In the US, banks have been on a drive to cut down the number of retail branches as a way to cut costs and respond to the growing mobile banking trend. Australian banks have also been on the same path in recent years, albeit at a slower pace."

VN set to embrace mobile banking
"Tam, who is also CEO of IDG Global Solutions Vietnam and MRD Joint-stock Company, told the Vietnam Financial Times that Internet banking services will rank second behind mobile banking, while transactions using Automatic Teller Machines (ATMs) will reduce significantly in the coming years. Wikipedia describes mobile banking as a system that allows customers of financial institutions to conduct a number of transactions through devices like mobile phones or personal digital assistants."

Mashreq increases focus on mobile banking with the launch of Mashreq Max
"Mashreq has launched a new service, called Mashreq Max, which equips salary transfer account holders with a dedicated Samsung tablet filled with dedicated apps that give users access to banking features previously available only at the bank’s branches. It is available to any UAE residents with salaries of at least AED 15,000 per month."

Opinion: Why banking must change its game
"You have 15 minutes to kill. Time to bank. After logging in on your smartphone, you check that your pay has come in, you settle your credit card dues, pay your rent by bank cheque and move money into your savings account. Before you reach home on your way back from work, there is just enough time to locate the nearest cash point and check for discount offers at your favourite lunch spot. This is a far cry from banking of old, and this is only the beginning of what the internet and mobile technology can offer. As device sophistication and network speed increase, so will consumers’ expectations of usability and service. Next generation customers want banking that fits into their lives, not the other way around."

LajanCash: Haiti National Credit Bank incorporates mobile banking
"The National Credit Bank (BNC) launched on Friday, May 24, 2013, at the Royal Oasis, a new product in the banking market, the electronic wallet, "LajanCash." This product will allow any user of a mobile phone to easily and safely make online purchases, receive wages, transfer money, make deposits and withdrawals through ATM machines in the BNC."

Commonwealth Bank of Australia : Introducing new mobile banking innovations in Australia’s most popular digital wallet - CommBank Kaching
"Commonwealth Bank today unveiled two new mobile banking innovations to its two million mobile customers with the introduction of a BPAY QR code reader and card PIN and activation functionality - now available on CommBank Kaching for iPhone. The ability to set and change a card PIN through a mobile banking app marks the first of any of the major Australian banks."

Emirates NBD wins 'eBanking 2013 Excellence Award' for best mobile banking application
"Emirates NBD , a leading bank in the region, announced today that it has won the "eBanking 2013 Excellence Award" at the 18th Middle East e-Government and e-Services Excellence Awards for demonstrating the best mobile applications in the market that helped drive better efficiencies in technology, marketing and entertainment. The award was received by Ahmed Al Marzouqi, General Manager - Retail Distribution, Emirates NBD , at the award ceremony that took place recently at Ritz Carlton, DIFC."

Rapid growth in internet banking usage expected in UAE
"While use of internet banking is relatively low in the region, HSBC sees a rising trend in adoption of technology in the UAE which is expected to grow further, Francesca McDonagh, Regional Head of Retail Banking and Wealth Management, Mena, HSBC, told Gulf News in an interview."

SCB unveils digital banking vision in Pakistan
"Standard Chartered Bank (SCB) announced its digital banking vision aimed at enhancing the customer banking experience in Pakistan. This is part of the Bank’s global focus on ‘Digitisation’-socialising personal banking and extending customers’ digital lifestyle into banking. Bank launched ‘Breeze’, its award-winning Mobile Banking application, making Pakistan the second market in the MEPA region where this application is available."

Brazil to foster mobile banking thanks to central bank's increased powers
"The Brazilian central bank's recent announcement that it will become the official regulator of the country's payment industry also sets the basis for the legal framework for mobile banking in the country, which will benefit banks and telephone operators as it facilitates and expands payment alternatives. The provisional measure introduces the concept of 'payment institution,' a new legal entity that will be recognized as a participant in the Brazilian payment system."

M-banking on USSD likely to get delayed as operators spar
"Full-scale mobile banking services over the Unstructured Supplementary Service Data (USSD) platform, a text message-based interactive backbone could hit a roadblock with both GSM and CDMA operators at loggerheads with the National Payments Corporation of India (NPCI) on the revenue-sharing model."

Monday, June 3, 2013

Mobile Payments - June 3

CR Money Minute: A better mobile wallet?
"More than 18 months ago, Google Wallet was launched on the Sprint cellular network amid hoopla that payment-by-smart-phone technology at cashiers nationwide would replace your plastic debit and credit cards. Since then, AT&T, T-Mobile, and Verizon Wireless have begun testing their own Isis Mobile Wallet, and other companies have also jumped on the bandwagon."

Mobile Payments: Is Your Bank Putting Its Best Foot Forward?
"As mobile communication becomes more and more affordable and user-friendly, mobile banking is gaining increasing acceptance globally. With innovations such as Near Field Communications (NFC), mobile wallets, virtual personal financial assistants and a slew of new and customized applications being developed and adopted, the mobile banking landscape is undergoing a rapid and irreversible transformation, to an extent that monetary transactions are no longer restricted to banks and traditional financial institutions."

Opportunity as mobile payments show huge growth
"IT research company Gartner projects that global mobile transaction growth will average 42 per cent per year between 2011 and 2016, with the market estimated to be worth $617bn (£404.8bn), with 448m users, by 2016. There is a plethora of different technologies and standards used in a globally fragmented market, with big regional differences. Probably the biggest difference is between developed and emerging markets. For developed markets, the benefits are based around convenience, with customers able to make faster transactions, together with reduced transaction costs for retailers – mobile payments are generally cheaper than existing chip-and-pin transactions."

Malauzai: Picture Pay Besting Mobile Bill Pay
"The big news in the latest mobile banking usage data dump from Austin, Texas, apps developer Malauzai is that mobile picture pay – paying bills by snapping a photo – is on the rise, even surpassing usage of mobile bill pay in some institutions. Robb Gaynor, chief technology officer at Malauzai, said in an interview that 5% of its active end-users give picture pay a try within 90 days of a financial institution’s launch of the service. The technology is catching on."

Brits trust banks to be mobile payment providers
"Consumers have a love-hate relationship with their banks. However, new research from UK-based payment systems firm VocaLink, suggests that when it comes to mobile payments, it's the banks to whom consumers look to provide the service."

U.S. Bank releases iPhone mobile payment case in Minnesota
"Minnesota U.S. Bank customers can now get an iPhone case that turns the smartphone into a touch-free, mobile payment device. U.S. Bancorp tested the Go Mobile device earlier this year in Salt Lake City and Portland, Ore. Now it's available in Minnesota and other major U.S. Bank markets like Ohio, U.S. Bank Payment Services Chief Innovation Officer Dominic Venturo told the Minneapolis/St. Paul Business Journal in an interview."

What do consumers really want from mobile payments asks VocaLink
"New research from international payments provider VocaLink reveals that growing smartphone ownership is driving the mobile payments revolution in the UK. 60% of UK consumers now own a smartphone and are using them as payment devices on the move. Whilst the appetite for mobile banking and payments in the UK is growing with half the population either already using mobile payments (20%) or interested in doing so (30%), uptake is rapidly gaining momentum amongst the future generation."

Sunday, June 2, 2013

Mobile Banking Updates - June 2

New Mobile Banking Intensity Index Monitors Apps and Adoption
"American Banker has launched the Mobile Banking Intensity Index, a monthly gauge of mobile banking deployment and adoption in the U.S. The initial reading of the index confirms what many bankers know from their own experience: adoption of mobile banking is expanding at a fierce clip. The MBI is a diffusion index, and its initial reading of 70.4 indicates strong expansion of mobile banking activity. For context, readings above 50 in a diffusion index indicate expansion and readings below 50 point to contraction. The further from 50 a reading is, the stronger the indicated change. A reading of 50 suggests that activity was unchanged month to month."

GeoPay turns to decades-old technology to create mobile-banking platform
"Reston-based GeoPay, which provides cellphone-based banking services for people who might not otherwise have accounts at financial institutions, has turned to decades-old technology to create a mobile banking platform, according to The Washington Post. 'It’s essentially like text-messaging the transaction to a merchant or to a peer,' said Darren Feeley, founder and chief executive of GeoPay. 'The beauty of this is that it provides lightweight, basic financial services for those who ordinarily would not have them.'”

No surprise here, right? Mobile banking is on the rise, according to new survey "These days, we conduct our daily lives on our smart phones or tablets. So it’s not entirely surprising that more consumers are becoming comfortable banking on their phones or tablets. A survey released today by Dallas-based SWACHA, an electronics payments industry group, found that 33 percent of consumers use mobile banking applications on a cell phone or tablet. That’s up from 20 percent in 2011 and just 7 percent in 2009. Dig a little deeper, and the survey found that 20 percent use a mobile bank app daily while 45 percent use one at least once a week."

Texans Take to Mobile Banking, Survey Finds
"Mobile banking is burgeoning in the Lone Star State. Thirty-three percent of Texans say they use mobile banking applications on a smartphone or tablet, up from 20% who said they used such applications in 2011, according to a survey released Thursday by SWACHA, a nonprofit payments association that serves financial institutions in Texas, New Mexico and Louisiana."

Survey shows online banking getting a boost from mobile technology
"A new study shows people are increasingly using mobile banking applications as they adapt to new technologies. A 2013 survey by SWACHA, a non-profit electronic payments association based in Dallas, found that 33 percent of respondents now use mobile banking applications on a cell phone or tablet. That is up from 20 percent in a survey from 2011 and just seven percent in 2009."