“All Things Must Pass”*

"As I mentioned in my previous blog, the 25th Annual ABA/ABA Money Laundering Enforcement Conference did some “lookbacks” at what had occurred and still resonated for the AML community. It should be noted, though, that there were plenty of forward-looking sessions." Continue Reading

ABA Endorses Q2’s Virtual Banking Solutions as the “Architecture of Choice”

"The American Bankers Association – through its subsidiary the Corporation for American Banking – has endorsed Q2’s enterprise solutions for secure virtual banking. This endorsement establishes the Q2 platform as the architecture of choice to ABA members. 'As online and mobile banking continue to evolve, account holders increasingly expect a unified anytime, anywhere, any device experience,' said John Wolff, ABA executive vice president." Continue Reading

How mobile banking stacks up to Web, teller

"Most Americans still prefer doing their banking over the Internet and in person, but mobile banking has become more popular and has eclipsed the popularity of the telephone and the mail, according to a survey released Thursday by the American Bankers Association. Eight percent of adults surveyed said they prefer mobile banking, a 30 percent increase from 6 percent in 2012, the ABA said." Continue Reading

Pennsylvania sees biggest national loss in bank branches

"The Internet remains the most popular way to bank but mobile banking is the fastest growing, according to a survey of 1,000 U.S. workers by The American Bankers Association. And that is probably one reason why the number of bank branches continues to recede. Pennsylvania experienced the largest net loss of branches between July 1, 2012 and June 30, 2013, according to data from SNL Financial.

The ABA study asked respondents which method they used to manage their bank accounts. Internet banking was by far the most popular at 39 percent in 2012 and 2013. Branches were second at 18 percent—also the same as 2012—followed by ATMs at 11 percent (down from 12 percent last year). Mobile banking was the only banking method that increased in popularity over the past year, moving from 6 percent to 8 percent and, in the process, passing mail and telephone banking." Continue Reading

Study: Mobile close to equaling ATM as preferred banking channel

"The popularity of mobile banking continues to grow, according to a recent study by the American Bankers Association. A survey of 1,000 U.S. adults revealed that while the Internet remains the most popular banking method, mobile banking has eclipsed the popularity of "snail mail" and landline, and is now preferred by 8 percent of customers, while ATMs are still the preference of 11 percent of customers." Continue Reading

Mobile Banking Updates - Oct 21

ABA Survey: Popularity of Mobile Banking Jumps
"A new survey by the American Bankers Association shows a sharp increase in the popularity of mobile banking, driven mainly by customers in the 18 to 34-year-old age group. The survey of 1,000 U.S. adults, conducted August 2-6, 2012 by Ipsos Public Affairs, an independent market research firm, revealed that while the Internet remains the most popular banking method, mobile banking is now preferred by six percent of customers, a 100 percent increase from 2010, and by 15 percent of 18-34 year olds, also known as 'millennials.'”

SME Mobile Banking: A Revolution Just Around the Corner
"Small and medium enterprises (SMEs) want mobile-based banking that helps them run their businesses smarter. This spells a new opportunity that can unlock services that generate revenue streams. SMEs are major contributors to a nation’s GDP. In G7 countries, SMEs contribute about 53 percent of the GDP. In spite of the importance of these companies, banks have not focused on the this segment. However banks are increasingly recognizing the potential of the SME market and the need for differentiated servicing for these customers."

At BAI, Mobile Banking Rings the Cash Register: Onsite Coverage
"Mobile banking will save you money. And it will make you money. Those are the two top-line messages from an opening day BAI Retail Delivery session at the Washington Convention Center on Tuesday with Zions Bancorporation senior vice president Matthew Wilcox and Drew Sievers, CEO of mFoundry, a mobile banking apps developer."

Consumers Readily Adopt New Mobile Banking Tools
"As smartphone and tablet penetration continues to rise, so too does the use of mobile banking, bill paying, money transfer, remote check deposit and other personal money-management services, according to a new eMarketer report, “Bigger Money on the Small(er) Screen: How Smartphones and Tablets Change the Way Consumers Manage Their Finances.” On-the-go consumers are turning more frequently to their devices to keep tabs on their money and conduct increasingly complex financial transactions—simply because they can."

Innovation, Revenue Creation and Mobile Solutions Highlight BAI Retail Delivery
"I realized how long I have been in this business as soon as I hit the expo floor. I go back to much simpler days when trade shows were filled with display vendors (brochures and signs, not video), checking account premiums (from teddy bears to pots and pans), newsletter publishers (the paper kind) and cash counting machines."

Malauzai Releases Mobile Banking Research Report Based on Actual Usage Data
"Malauzai, a leading provider of mobile banking SmartApps for community financial institutions, has released Monkey Insights, a monthly research service based on the company’s Real-Time Experience Behavioral Analytics (REBA). Monkey Insights will reports on two indices: The Mobile Engagement Index (MEI) which tracks end-user engagement with mobile banking and the M-Money Index (MMI) that summarizes statistics related to mobile money movement such as transfers, bill payments and deposits."