FIS to Showcase Banking and Payments Innovations at BAI Retail Delivery Conference

"Showcasing its latest retail banking and payments innovations, FIS™ (NYSE:FIS), the world’s largest provider of banking and payments technology, will bring a robust presence to this year’s BAI Retail Delivery Conference, the top conference for the retail banking industry. One of Forbes 100 Most Innovative Companies, FIS will demonstrate its Mobile Wallet with Cardless Cash Access, which allows users to not only pay using their smart phones, but also withdraw money from an ATM from a mobile device." Continue Reading

Mobile Banking Updates - Mar 17

Mobile Deposit Combines the Old and New in Bank Technology
"Remote deposit capture (RDC), long tied to the PC and desktop scanner, has arrived at its ultimate destination -- anywhere, anytime check deposits through popular mobile banking capabilities and smartphones. By combining powerful technology trends and strong consumer demand with a traditional banking process, mobile deposit enables financial institutions banks to retain customers, prevent the fragmentation of customers’ banking relationships and, ultimately, forever change the bank’s relationship with its customers."

Onsite Coverage: Mobile Message at BAI is ‘Go Big or Go Home’
"What a change a year makes. The loud message at a morning session on mobile banking at the BAI Payments Connect conference in Phoenix is this: "Go big or go home." Mobile banking adoption now is occurring at a “dizzying rate,” said panelist Bob Hedges, a managing director at research firm AlixPartners. Before, AlixPartners had talked about mobile banking “nearing” a “tipping point” – but it’s there and well beyond that now, Hedges said at the Monday session."

Centier Bank Improves Banking Security with Mobile-based Card On/Off Support
"In an effort to increase mobile adoption and enhance customers' security options, Merrillville, Ind.-based Centier Bank has implemented new mobile banking functionality from Computer Services, Inc. (CSI) (OTCQX: CSVI) to allow its customers to better manage debit cards from their mobile devices. CSI's newest mobile application enhancement, referred to as Card On/Off, allows users to manually enable or disable the use of their debit card within the bank's mobile app in the event the card is lost or stolen."

Millennials embrace mobile banking
"Meryn Oswald is 23, just out of college and can’t remember the last time she was in a bank branch office. Her father, Jim Oswald, who’s executive vice president and chief lending officer for Affinity Bank of Pennsylvania, is amazed watching his daughter bank on her phone. This is one reason the Spring Township bank is exploring mobile banking."

Report: 1 billion mobile banking customers by 2017
"Bill payment from a tablet is, not surprisingly, on the rise. Analysts at Juniper Research said that growing acceptance of mobile banking coupled with a rise in tablet adoption will push users of transactional tablet banking to nearly 200 million consumers in 2017. That's about 19 percent of all mobile banking customers, the report said. Juniper said adoption of bill payment via tablets will be higher in developed areas, as they have a higher adoption of tablet devices overall."

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."

BAI Mobile Banking Updates - Oct 14

mFoundry Launches New Mobile Banking Platform
"Mobile banking and payments provider mFoundry announced the release of a new mobile banking platform it says will offer banks new ways to capitalize on the continued growth of mobile banking services. mFoundry’s Fin.X product enables financial institutions financial institutions to deliver mobile banking services through an "advanced extensible architecture," said the company. mFoundry also announced a service provider network for Fin.X of 30 companies, including FIS, Diebold, Dwolla, Blackhawk Network and Micronotes."

Breaking the Glass Ceiling of Mobile Banking Adoption
"Credit unions of every shape, size and type recognize the benefits that mobile banking offers – a lower cost to serve, increased member satisfaction, retention and a higher return on investment. But for many, breaking through the mobile banking adoption glass ceiling has been challenging. The mobile banking glass ceiling lies just beyond the threshold of early adopters, designated as the first 20% of a financial institution’s online banking user base. Many credit unions are on a mobile banking adoption path that attracts the early adopters within a year of offering the service, but the trajectory then stagnates to include just a small additional percentage of adopters over the next two years."

Survey: millennials drive rising popularity of mobile banking
"Mobile banking providers like mFoundry are expanding the services available through mobile banking tools, creating a network of providers linked through a financial institutions mobile portal. A new survey by the American Bankers Association shows why that strategy makes sense. The study found a sharp rise in the popularity of mobile banking, driven mainly by customers in the 18 to 34-year-old age group."

BAI Retail Delivery: Branson Wows, but Mobile 2.0 Rules
"Keynotes by Sir Richard Branson, the $4 billion Virgin serial entrepreneur, and global strategist Jonathan Salem Baskin. Panel after panel on mobile banking, peer-to peer-payments and the rules of engagement with social media. A tentative obituary for near field communication, an innovative payments technology around which enthusiasm seems to be crumbling."

American Express and Walmart Team for Consumer Mobile Banking
"For days, speculation has loomed about what the forthcoming partnership between American Express and Walmart would mean. Now we know. On Monday, Walmart and American Express confirmed the launch of Bluebird – an alternative to debit and checking accounts designed to help consumers 'better manage and control their everyday finances.' According to Walmart and American Express, Bluebird has been developed for the tens of millions of Americans who are looking for advanced capabilities such as deposits by smartphone and mobile bill pay. Bluebird will be available next week online at bluebird.com and in more than 4,000 Walmart stores."

Survey: Mobile banking grows in popularity
"Mobile and Internet banking are becoming more popular among bank customers around the country, especially those aged 18 to 34, according to a survey conducted by the American Bankers Association. Mobile banking is the preferred way to conduct business for 6 percent of customers of all ages. But of millennials — the 18 to 34 age group — 15 percent said their favorite method of banking was mobile."

 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."

Mobile Banking Updates - Nov 1

It has been an extremely slow week in the world of mobile banking, but with BAI kicking off on Tuesday I expect a slew of announcements over the next 48 hours. Check back often it should be fun week!

Android 2.0: The iPhone killer at last?
"In its three years, the iPhone has redefined the mobile device. But despite the iPhone's popularity, it is by no means certain to become the mobile equivalent of Windows, the dominant platform that defines our experience of a particular technology, as well as the business choices that surround it. Google's Android 2.0 OS is the latest in a series of mobile offerings seeking to derail the iPhone's momentum. Backed by heavyweights Google, Motorola, Verizon Wireless, Acer, and other big-name manufacturers, Android could potentially knock the iPhone down a peg. After all, while users love the iPhone, Apple's controlling tendencies have frustrated developers, and its disrespect for business concerns have frustrated IT."

Bling Nation gets another $20M funding for its pay-by-cellphone system
"Bling Nation, a Palo Alto-based company, has created a mobile payment service called Redi Pay that lets phone users pay for things in stores with their phones. I wrote about Bling Nation in July, when the company landed $8M in funding $from Lightspeed Venture Partners, Meck and Camp Ventures."