"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" 

Tuesday, July 9, 2013

International Mobile Banking Updates - July 9

Nigeria: CBN Explains Restriction of Telcos From Mobile Banking Services
"The Central Bank of Nigeria (CBN) yesterday gave reasons for the restriction of telecommunication companies from offering mobile banking services in the country. The Director, Banking and Payment System Department, CBN, Mr. Dipo Fatokun, stated that telcos were not given the opportunity to provide mobile payment services because the central bank did not have direct control over them."

CBN Blames Failure Of Telecoms Synergy On Mobile Payment Hassles
"The CBN says its inability to regulate operation of the telecoms is responsible for their exclusion in the mobile banking system, an approach which is being criticised by analysts. CBN’s Director, Banking and Payments system department, Mr Titus Fatokun, however, says that despite this development, mobile money transfer has recorded N9.2 billion in value and 275,558 in volume as at May 2013."

ING GROEP : European consumers empowered by mobile banking
"More than a third (37%) of almost 12,000 internet users surveyed in 12 European countries are already using mobile banking - and many credit the technology with providing more control over their money. While being able to bank on the go is very popular, cash is still favoured for ultimate control of budgeting and spending. Social media is booming and is mostly used to get better insight into money matters and is set to grow as many young people expect to be able to make payments via social media, according to the ING report entitled Financial Empowerment in the Digital Age."

Monitise and Telefonica Enter Mobile Money Partnership
"Monitise plc UK:MONI -1.38% announces it has become the preferred Mobile Money technology partner for Telefonica Digital to develop and manage new and existing mobile payment and commerce services for its customers."

HSBC Bank Oman launches secure key for internet banking and upgrades mobile banking app
"Having been the first bank to provide Internet Banking in the Sultanate, it is now one of the first banks in Oman to offer this service. Secure Key provides customers with an extra layer of security when they access their accounts online, bringing the best of HSBC's global capabilities and technical expertise to customers across the Sultanate in a simple, secure and efficient way. The bank has also upgraded its mobile banking app which is available for Android powered devices. With its new look and feel and simplified navigation, the new app allows customers' funds transfer facilities between their HSBC accounts, in addition to a better user experience."

Standard Bank closes WAP mobile banking
"Standard Bank is set to discontinue its Wireless Application Protocol (WAP) cellphone banking service from 8 July 2013. The bank notes that this service makes up only a fraction of its total mobile banking registered customer base, saying further that its app service has achieved 170,000 unique registered users since it launched a year ago. As at 31 December 2012, the bank claimed to have 11 million retail and business customers in South Africa."

Product review: Barclays’ CashSend, Hello Money
"The single biggest weapon in the mobile money transfer services (MMT) arsenal — EcoCash — is, however, effectively in the hands of a non-bank player and it has made significant inroads into traditional banking territory. While banks are expected to wage a sustained battle for a piece of the unbanked pie, it would be unwise for them to concentrate only — or mainly — on that without also coming up with strategies for protecting their existing customers from the onslaught of game-changing MMT products such as EcoCash. In their quest to craft appropriate strategic responses, banks have responded in basically two ways."

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