Mobile Banking Updates - Sept 12

Increase Mobile Banking Adoption
"Yes, more consumers are using mobile devices - A 2012 Federal Reserve mobile financial services study indicated that the majority of American consumers use some form of technology to interact with their financial institutions. Yes, more customers are using mobile banking - The Fed survey found 21 percent of mobile phone owners have used mobile banking in the past 12 months; 11 percent of those not currently using mobile banking think that they will probably use it within the next 12 months. Yes, there is cost savings for the financial institution - The average financial institution can save almost $50 annually with each customer that uses mobile over branch for a single monthly deposit, according to a recent Javelin Strategy &. Research study. For the typical institution, an in-person transaction costs S4.25 while a mobile transaction costs about 10 cents."

Mobile money - what the future holds
"In this episode we are talking to the biggest mobile money specialist in the world, they're called Monitise and they aim to make money totally mobile across the globe. They give us an interesting insight into the progression of mobile transactions and to tell us more we speak with, Andrew Griffin, SVP for Industry and Investor relations at Monitise. He starts by telling us a bit about the background of the company and how things have developed to where they are today."

Mobile Banking Solution mBank Receives "Best Mobile Commerce App" Award
"mBank is a mobile banking application for small commercial banks and credit unions. New Jersey Technology Council recently selected mBank as the "Best Mobile Commerce App". 'We are excited to have received this award from New Jersey Technology Council. They have selected our platform not only for its quality but also for how valuable it will be for the banks needing such solution. NJTC is doing a terrific job in encouraging software companies like ours to produce innovative mobile solutions that benefits organizations and individuals alike. We thank them for recognizing our mobile banking app and value it brings for the target audience.' said Tim Miller, VP of Mobile Solutions at Mantra Information Services, a custom software and solutions company."