Mobile Banking Updates - July 31

M and T has issued 10 million alerts to customers
"It’s pretty clear: M and T Bank customers want to keep close tabs on their accounts. Last September, the Buffalo bank introduced a dozen customizable account alerts for customers using the M&T mobile banking app. Less than 12 months later, the bank has issued 10 million-plus such alerts via text messages, emails and push notifications, according to an announcement today."

Banks Must Enter Businesses (Seemingly) Unrelated to Banking
"The startup scene offers a glimpse into what the future of banking services will look like (or at least a good chunk of it). The bank of the future will be more personal and tailor-made. Banks today find themselves stuck with legacy technology systems for the simple reason that it's so cumbersome to switch from one provider to another. But banks cannot assume their customers will always suffer from such inertia."

Report: Phone SIMs Are Hackable
"Many phone SIM cards can be hacked to reveal users’ physical location and — in some cases — their mobile banking information, a German security researcher has found. SIMs are the small, removable plastic cards maintain a person’s mobile identity, such as their phone number and which network to which they subscribe. At least 500 million of them, or about one-eighth of worldwide mobile phone users, are also hackable, said Karsten Nohl, founder of the Berlin-based Security Research Labs."

Improvements to Online Bank and Banking App Give Customers Even More Control
"Nationwide customers now have even more control over how they manage their money following a raft of improvements to the Society's digital banking services; its online bank and mobile banking app. The changes come as Nationwide is named "Best Online Banking Provider" and "Best Overall Online Provider" in the Your Money Direct Awards 2013."

Bluepoint Solutions Whitepaper “The Future of Mobile Banking” Explores the Evolution of the Mobile Channel
"Bluepoint Solutions today announced the availability of a new whitepaper entitled, "The Future of Mobile Banking." The paper reflects the drastic growth that has occurred in the mobile channel in the last several years and provides financial institutions with useful information to craft an effective mobile strategy."

'Technology Champions' Tout Digital Services at Mountain America
"At the $3.5 billion Mountain America Credit Union, it’s a snap for members to tap into technology, thanks to 78 specially trained employees that answer questions, give demonstrations and provide hands-on assistance. To promote new products and services such as P2P and mobile deposits, the 419,000-member Utah credit union has staffed each of its 76 branches, along with its service center and education department, with a designated 'technology champion.'"