International Mobile Banking Updates - Aug 27

Consider Kenya’s Mobile Banking Model, CBN Told
"In order for mobile banking services to achieve a higher success rate in Nigeria, the Central Bank of Nigeria (CBN) has been advised to consider the Kenyan model. A report, which gave this recommendation, pointed out that Kenya’s mobile banking model seems to have defeated the vast difficulties associated with the cashless transaction platforms, saying that if employed by the CBN, this form of money transfer would cause the cashless policy to reach an unprecedented percentage of the unbanked population."

Mahindra Comviva's mobiquity mPayments Declared Best Mobile Banking Technology in Asia & Africa
"Mahindra Comviva, the global leader in providing mobile financial and VAS solutions, today announced its mobiquity mobile financial services platform has been awarded the best Mobile Banking Technology award by World Finance Technology Awards 2013, declared recently in London. Mahindra Comviva was recognized for its work in delivering relevant technology solutions for accelerating financial services growth in Asia and Africa."

SinoPac is first to launch mobile banking services
"Bank SinoPac (永豐銀行), the banking arm of SinoPac Financial Holding Co (永豐金控), yesterday launched mobile debit and credit card services, making it the first lender in Taiwan to tap the emerging mobile payment market. The new service, currently limited to 1,000 customers, allows them to pay for goods and services via their smartphones and tablets as mobile devices gain popularity."

Standard Bank’s mobile growth revealed
"Standard Bank says its mobile banking customers as at July 2013 have swelled to 3 million, representing a 58% increase from the same period last year. On Thursday (15 August) the group reported a 10% rise in headline earnings per share in the half-year to June period to 506 cents, and a dividend per share of 233 cents was declared. 'Sharply increased activity occurred through the mobile banking channels in South Africa offset by slightly lower activity through the group’s ATM network,' it said in its results presentation."

CIBC Mobile Banking app updated for Android and iOS
"CIBC has pushed out an update to their mobile banking app today for both Android and iOS. iOS (iPhone, iPod touch and iPad) is updated to version 4.5 and now supports multitasking for iPhone users, but the most notable change is on Android, now at version 2.0, as it bring a completely redesigned UI and optimized for devices (smartphone and tablets) running Ice Cream Sandwich or higher. Apart from the usual checking your account balance, transfer funds, finding branches and ATMs, the app allows CIBC customers to load up multiple cards, add an avatar to make the experience more personal, plus offers a ‘slide-out’ menu for easier navigation."

Financial inclusion and mobile banking
"The usual path of development has been one of developing countries catching up to their more prosperous brethren. From governance to technology, developing countries follow the lead of the developed world. Catching up is easier, being on the cutting edge infinitesimally harder. The advent of branchless banking has been contrary to the above mentioned trend, with developing countries such as Pakistan and Kenya taking the lead in the development of and innovation in the field."

ING Direct Australia develops new mobile app following complaints
"Complaints about its mobile banking app led ING Direct Australia to develop a new version which offered improved features with good security. Speaking at the Gartner Security & Risk Management Summit in Sydney, ING Direct Australia solution architect Johnathan Sharratt told delegates that its old app had a limited set of features."

Airtel Launches Mobile Banking with Equatorial Commercial Bank in Kenya
"Just after the signing of mobile banking agreement with Equity Bank, the ink has not dried and Airtel has partnered with Equatorial Commercial Bank with the same product. 'Mobile banking is a fast and growing phenomenon,' Airtel Kenya MD, Mr. Shivan Bhargava said at the launch event. 'With mobile banking business people can analyze their business transaction better thatn the cash transaction.'”

Consumers Rate the Best and Worst U.K Mobile Banking Apps in New Report from Xtreme Labs
"Xtreme Labs, the leader in mobile strategy and product development, today released a new report on the best and worst mobile banking apps in the U.K. as rated by customers themselves. The U.K. Banking Apps Report: Customer Reviews by Xtreme Labs analyzed customer reviews from the Apple App Store and the Google Play Store between May 18 and June 11, 2013 for the top 12 banks as ranked by total assets in the U.K."

Mobile, Internet banking to drive decline in cash use
"The UK Payments Council's latest report forecasts what the payments industry will look like in 10 years time. Overall, it predicts that card use by consumers will hit 17 billion in 2022, up 75% on last year's 10 billion. Meanwhile, the number of cash transactions is forecast to fall from 21 billion to 14 billion in 2022, with use of cards and mobile payments on the rise."

Banco de Venezuela launches m-banking initiative
"Venezuelan state-owned bank Banco de Venezuela (BDV) has launched a mobile banking initiative which will allow its clients to make transfers using smartphones and tablets, the company said in a release. BDV has launched the m-banking app, which can be downloaded for free or accessed via a URL, for Blackberry (Nasdaq: BBRY) and Android, and will soon provide a version for iOS."