Announcing Javelin's 2013 Mobile Banking Financial Institution Award Winners

"The results of Javelin Strategy & Research's annual Mobile Banking Financial Institution study show that Bank of America, Citizens Bank, USAA, BBVA Compass, Wells Fargo, Chase and others banks are topping all competitors in mobile banking.

Javelin's sixth annual Mobile Banking Financial Institution study evaluates the abilities of financial institutions (FIs) to meet consumers' growing mobile banking needs as they evolve from mobile account monitoring to mobile money movement and beyond." Continue Reading

Banco Bilbao Vizcaya Argentaria S.A. : BBVA Compass wins Best in Mobile Functionality Award from Javelin Strategy & Research

"BBVA Compass won the 2013 Best in MobileFunctionality Award in Javelin Strategy & Research's sixth annual MobileBanking Financial Institution Scorecard, which was released Thursday. The recognition is the latest endorsement of the bank'smobile banking offerings as one of the most comprehensive available today. Earlierthis year, American Banker listed the bank's app among the top 10 in the marketbased on its features, design and ease of use." Continue Reading

BBVA Compass upgrades mobile banking apps, adding Mobile Deposit® for small business

"BBVA Compass upgraded its mobile banking apps for iPhone® and Android(TM) phones, offering the Mobile Deposit service to eligible small business and new consumer accounts and introducing an updated payments section. In the new payments section, customers can access Bill Payments, Picture Bill Pay, Pay People personal payments and a new credit card payments functionality.

'More and more customers are relying on mobile apps to run businesses and conduct transactions when away from home, the office or a bank branch,' said Alex Carriles, director of self-service channels at BBVA Compass. 'Offering one of our most popular features -- Mobile Deposit -- to more customers, in particular small business owners, helps us put the financial tools they need at their fingertips.'" Continue Reading

Mobile Banking Updates - Aug 18

Ten-Hut! Presenting Defense Mobile, a mobile carrier for U.S. soldiers
"Anyone who has ever spent time in a military town knows there is a whole network of services, ranging from medical and dental care to banking and department stores, provided specifically for members of the U.S. Armed Forces. One of those services, however, isn’t mobile. That’s changing this coming Veterans Day. November 11, a company called Defense Mobile Corporation is launching a new mobile virtual network operator (MVNO), offering inexpensive mobile phone plans for active-duty military and their families as well as for veterans, members of the reserves and even cadets and midshipman in the military academies. Combined those groups encompass 51.6 million people, DMC estimates."

Value-add mobile features offer potential revenue play
"Retail banks can realize the full potential of mobile banking by offering segmented consumer experiences and advanced digital wallet capabilities, according to a study by Cognizant and Monitise. Consumers are increasingly expecting banks to help improve their mobile lifestyles by providing anytime, anywhere capabilities; customized user experiences; shopping and social features, and value-added services. This, the study states, represents a new opportunity for retail banks to drive customer loyalty, attract new business, and generate more revenue."

More than 50 percent of U.S. adults bank online
"Digital banking is on the rise with more adults using the Internet and their mobile phones to handle their financial transactions, according to a new survey released by the Pew Research Center. Fifty-one percent of U.S. adults, or 61percent of Internet users, currently bank online, up from 46 percent of adults, or 58 percent of Internet users in 2010, according to the results of the survey. Also, 35 percent of cell phone owners use their mobile phones to check their balance or transact business with a bank, up from 18 percent in 2011, it said."

BBVA Compass targets small biz with mobile payment tool
"The smallest of small businesses are the target of a technology innovation rolled out by BBVA Compass. The bank’s “business mobility bundle” includes an e-business checking account, online and mobile banking, and a merchant “mobility pack,” with a secured card reader for processing debit and credit card transactions on a smartphone or tablet, a statement from the bank said. The card reader is the bank’s way of competing directly with Square, the mobile payment processor that allows some merchants to ditch their cash registers, Lonnie Hayes, small business segment director at BBVA Compass, told the trade journal American Banker."

The $1.5 Billion Opportunity In Mobile Banking
"If banks want to add another $1.5 billion to their collective bottom line, they should work on promoting mobile banking opportunities and, in particular, mobile deposits. That's according to a July report from Javelin Strategy & Research, which found that banks could see significant savings if they did more to leverage mobile banking. The report notes that not only do mobile transactions cost less to process, but that mobile customers tend to be younger and more affluent -- two traits that make them desirable targets for banks."

Why you may soon be talking to your ATM
"The world of banking has come a long way since the original days of brick-and-mortar establishments. It’s now possible to do your banking from the comfort of your home, potentially without ever stepping foot into a bank. Although it seems as if banking technology couldn’t evolve any farther than ATMs, online banking, and mobile banking apps, it has and will probably continue to. Soon, the entire banking world will be rocked with the introduction of the newest in ATM technology: teller-assisted ATMs."

Mobile Banking Is More Common Among Blacks and Hispanics
"Two independent studies have discovered that mobile banking use is disproportionately higher among blacks and Hispanics than whites. This is contrary to the conventional wisdom which presupposes that minorities lag behind white Americans in technology use. A study by the Pew Center on the Internet and American Life Project, published August 7, found that "Blacks and Hispanics" had a "statistically significant difference compared with others of the same group" for use of a cell phone for mobile banking. 34% of Black cell phone users and 35% of Hispanic cell phone users accessed mobile banking while only 26% of Whites did."

Mobile Banking Updates - Aug 11

Hope Credit Union rolls out Bluepoint mobile remote depost capture tech
"Bluepoint Solutions today announced Jackson, Miss.-based Hope Credit Union (HOPE) has implemented its mobile remote deposit capture (RDC) solution QwikDeposit ToGo as part of the credit union's mobile banking app powered by Malauzai Software."

Constant Access To Online Banking Solutions Driving Increased Uptake Of Mobile Platforms
"ABI Research forecasts that cumulative online ID and authentication shipments into the banking market vertical will total 1.6 billion in 2018; an increase of 945 percent when compared to 2012. Cumulative shipments include secure USB tokens, standalone OTP generators, portable smart card readers, and mobile device software applications. Of the 2018 shipment total ABI Research forecasts that mobile software applications will account for 81 percent of the total 2018, which only accounted for a mere 22 percent in 2012."

Citizens Bank Recognized for Industry-Leading Customer Satisfaction in Mobile Banking for Android™ and iPhone®
"Citizens Bank’s Mobile Banking apps for Android and iPhone are generating the most-positive customer feedback in the industry, according to a new report issued by Xtreme Labs. In announcing its findings of the Top Three mobile banking apps, Xtreme Labs noted that 'Citizens Bank is the only bank with the highest rated apps on both Android (4.5 stars) and iOS (4.5 stars) platforms.'”

51% of U.S. Adults Bank Online
"Fifty-one percent of U.S. adults, or 61% of internet users, bank online. Thirty-two percent of U.S. adults, or 35% of cell phone owners, bank using their mobile phones. Both types of digital banking are on the rise. In 2010, 46% of U.S. adults, or 58% of internet users, said they bank online. In 2011, 18% of cell phone owners said they have used their phone to check their balance or transact business with a bank."

Mobile banking update allows BBVA Compass customers to pay people using text, email
"BBVA Compass enhanced its mobile banking capabilities by adding the Pay People with Popmoney service to its iPhone and Android apps, allowing customers to send money to anyone in the U.S. using just the recipient's email address or mobile phone number."

The Fine Line: collaboration vs. competition in mobile payments
"Following the news that Polish banks will work together on establishing a common mobile payment infrastructure, European banks should learn from the Polish market, writes Philippe Eschenmoser, head of business consulting at SIX Payment Services. Last month came the announcement that in Poland rival banks are coming together on a collaborative project to encourage mobile payments. Alior Bank, Bank Millennium, Bank Zachodni WBK, BRE Bank, ING Bank and PKO Bank Polski intend to build a common infrastructure which is open to all market participants, including other banks. Comprising of standard authorisation and settlement, the system will support abilities such as 4G mobile banking and mobile shopping."

Five Ways You Can Combine Banking and Mobile
"With everything becoming more mobile, many traditional industries are undergoing fundamental changes. The financial sector is one of them. Banking and mobile now seem to go hand in hand, with more people and businesses relying on apps and payment systems like PayPal to check their balances, transfer funds and even process transactions. Customers still have to step into a branch on occasion, but mobile tech can make it quick and painless. That said, here are five ways banks are using mobile to their advantage:"

Kearny Federal Savings Bank Selects Premier from Fiserv for Account Processing as Part of an Integrated, Enterprise-wide Banking Solution
"Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Kearny Federal Savings Bank, headquartered in Fairfield, N.J., has chosen the Premier® bank platform for account processing, along with additional Fiserv solutions for mobile banking, person-to-person payments, check capture, online banking and bill pay. The $3.1 billion bank cited Fiserv integration, innovation and scalability as factors that will help the bank increase efficiencies and attract new accounts."

Non-compliance creates significant risk with mobile banking products
"Regulations on mobile-banking products, services, and practices continue to evolve alongside the technology that supports these next-generation solutions. Keeping up to date on the rules and requirements is imperative for financial institutions that are entering the brave new world of mobile."

Mobile Banking Updates - July 11

Mobile Banking? There’s an App for That — and Often a Sizable Fee Too
"Banking with your smartphone? There’s an app for that. But some customers are finding there’s a fee for it as well. Mobile banking has grown significantly in the past couple of years. The Pew Research Center says more than half of Americans now have smartphones. Consultants at the Aite Group said in a report last year that the number of people banking on their phones will triple by 2016."

BBVA Compass economists examine mobile banking, crowdfunding, other trends in latest quarterly report
"The financial industry faces its most dramatic transformation in modern history because of increased online and mobile device usage, which will make banks more productive but also boost competition from nonbanks, BBVA Compass economists say in their latest report. This "transformation will result in a more efficient financial system that will be in a stronger position to support economic growth and wealth creation," the economists say. Every quarter, the bank's economic research team publishes its Economic Outlook, a report focused on a variety of issues that affect the U.S. as a whole as well as the Sunbelt states where BBVA Compass operates."

Key Considerations for Testing Voice Recognition in Mobile Banking Applications
"Traditionally, banks have been burdened with high regulations and slow processes. Mobile is completely changing all of that. Mobile has quickly forced banks to catch up with their customers and embrace mobile apps. According to an inforgraphic produced by analytics solutions provider FICO, one billion people are projected to use mobile banking by 2017. Banks are continually innovating and improving their mobile services and even incorporating voice recognition."

New Access publishes a white paper on mobile banking apps
"New Access SA, a leading provider of front office solutions to banks and financial institutions, announces the publication of a white paper on Mobile Banking Apps by David Sikorsky, Head of Market Research. Tablet apps offered to wealth management advisors are in a transition phase right now. While all research points to the fact that it will become a transformational technology for the sector, very few software solutions vendors seem to take it seriously and very few banks, outside of the US, have a clearly defined strategy. Larger IT vendors are not yet very well organized and many banks are still defining their strategies. In terms of functionality, research shows that the tablet apps will initially be used to create a better client experience and facilitate interaction between client-adviser, during account opening and account review processes.

Virtual Piggy Hires Creative Director with Mobile Banking Chops
"Virtual Piggy, the parent-controlled money management platform for children, added an experienced mobile banking designer as its new creative director of mobile design. Ivo Weevers will lead and manage the mobile consumer experience team for Virtual Piggy, a company that enables young people to make purchases under the supervision of their parents. His past work includes leading mobile design at Royal Bank of Scotland and he is a recipient of the British Interactive Media Association's Innovation Award for his work developing mobile payments technology."

Pay-What-You-Want GoBank Puts Mobile Users First
"A new player has emerged at the forefront of mobile banking with the hopes of capturing the nation's youngest banking audience and setting the tone for what it means to bank virtually. Launched to the public [recently], GoBank is the first bank designed specifically for mobile use. All functionality is available through its app, everything from opening your account to paying bills to managing your budget."

Intuit Pares Back, Refocuses with Financial Services Sale
"Intuit is selling a division that provides software to financial institutions in a deal worth about $1.03 billion as it focuses on products for consumers and small businesses. Intuit Inc., based in Mountain View, California, makes TurboTax, QuickBooks and other personal finance software. The company is still paring back its business. It also said Monday that it wants to sell a division that serves the health care industry."

Mobile Banking Updates - June 9

The Quest for Simplicity in Mobile App Design
"We heard it again and again from Charaka Kithulegoda and other bankers honored in our Mobile Banker of the Year package this year: simplicity and ease of use are the keys to sound mobile banking app design. 'People don't live to bank, financial institutions exist to serve their needs,' observes Hari Gopalkrishnan, a managing director at Bank of America."

You Talking to Me? How Voice Is Revolutionizing Mobile Banking
"Want to race? Pull up your mobile banking app, enter bill pay data, click pay. I'll use my voice to log in - no keying in the password - and simply tell the app whom to pay, how much. Who will be faster? Who will get the job done with less irritation? And with none of the miskeyed entries that turn so much mobile banking into an exercise in angst."

The 5 Biggest Pain Points for Mobile Banking
"I just attended and presented at the Mobile Banking and Conference Summit in Miami. Now in its seventh year (mobile banking existed in 2006?!?), the conference was an exploration of how financial institutions are being influenced by, and taking advantage of, the mobile channel and mobile technology. A few hundred attendees, including mostly high-level executive, product, technology and marketing folks were there."

Finance on the fly with convenience of mobile banking
"'App. Snap. Deposit.' Sound easy? It is. Banking has become as simple as one, two, three. Manage your money on-the-go, anywhere, anytime, in the click of a button. Check account balances, recent transaction history, transfer funds and locate nearby branches and ATMs – all on your mobile device for free. The way of the future is now."

U.S. Bank's Badarinath Isn't Shy About Testing the Mobile Waters
"'In banking, there are few sustainable sources of competitive advantage,' says Niti Badarinath, senior vice president and head of mobile banking at U.S. Bank, Minneapolis. 'Product innovation is probably not a place where banks can truly distinguish themselves, especially in consumer banking. Pricing is also not a source of sustainable competitive advantage: you can change some rates here and there, but it's not something you can keep differentiating yourself on. Then it comes down to, how easy are you going to make it for your customers to access and manage their finances?'"

The ROI of Mobile Banking
"Today, the general consensus is that mobile banking capabilities are table stakes for financial institutions. While it's certainly true that consumers are coming to expect mobile banking, it should not be regarded as just another cost of doing business. Mobile banking actually delivers a compelling return on investment. Once a bank or credit union has the foundation of mobile banking in place, the addition of services like person-to-person payments and remote deposit capture can provide new revenue sources, as research indicates consumers will pay for such convenience-enhancing features."

BBVA Compass adds picture bill pay capabilities to its iPhone mobile banking app
"BBVA Compass today expanded its iPhone app with Picture Bill Pay, allowing customers to pay bills and add payees by taking pictures of their paper bills with their iPhones. 'We wanted our app to be as robust as possible since nearly 35 percent of those who take advantage of mobile banking manage their finances exclusively through their apps,' said Alejandro Carriles, director of self-service channels at BBVA Compass. 'Innovative and fun features like this allow us to improve and simplify those customers' experiences.'"

Mobile Banking Updates - Dec 16

Mobile Banking Soars; Usage in U.S. Increases 50 Percent Since 2011
"Mobile banking has taken hold around the globe, presenting significant opportunities for banks to drive out costs and deepen customer relationships; this according to Bain & Company’s annual “Customer Loyalty in Retail Banking Report (2012 global edition),” released today by the global business consulting firm. The report finds that Asia has the highest mobile banking penetration—47 percent of survey respondents in South Korea said they had mobile interactions in the previous three months, the highest penetration in the survey—while survey respondents in the U.S. reported the highest frequency, averaging 4.9 mobile transactions in the previous three months."

2 for 1: Integrating Mobile Banking and Deposits
"Despite operating autonomously, the eight banks branded 'Simmons First' strive to present a common, customer-centric image across all interaction channels. 'It’s our intent to provide consistent, seamless information regardless of the channel or location,' explains Lisa Hunter, SVP of cash management and retail delivery for Simmons First National Corporation. 'Whether customers come into a branch, call us or use a self-service option, it’s important the experience be the same.'”

GoPayment: The Future of Mobile Banking
"It used to be that a bank was a building you visited to make deposits and withdrawals and perform other financial services. Nowadays, a bank is something you carry in your pocket. Anybody with a smartphone can make or take payments, check balances, transfer funds and even make deposits from almost any location and at any time."

Mobility, where are you headed?
"Mobility, as a concept, has captured the collective imagination of the tech savvy populace. CEOs and CTOs wax eloquent on their grandiose plans in this domain. A lot has been written about NFC device use, smart kiosks, mobile banking etc., projecting these as the next big thing in mobile and banking technology. However, I feel the ground reality is far removed from this. Every time I glance around in stores and malls, I notice that very few people use mobile banking. I initially wondered if this was unique to India, as we are not a very tech savvy people. On probing further, I have come to believe that it is a worldwide phenomenon, with even advanced countries yet to warm up to mobility. "

BBVA Compass adds bilingual app for mobile banking
"BBVA Compass is expanding its mobile banking outreach with the launch of a bilingual iPhone app. The new app will allow customers to access the bank’s mobile banking information in both Spanish and English. 'We currently serve a number of markets with a growing Spanish-speaking population, so we wanted to give those customers access in the language that is most comfortable to them,' says Alex Carriles, executive vice president and director of Mobile Strategy and Retail Innovation at BBVA Compass. 'We already operate as a fully bilingual bank in the U.S., and these additions will support that commitment.'”

Three ways to transfer funds through your mobile
"While fund transfer through mobile banking is not an entirely new concept, it hasn’t become a part of our banking needs the way online banking has. So what is it that stops you? One reason could be lack of awareness and another could be the perceived challenging technology which really is not so challenging. We give you three simple ways to transfer your funds through your mobile. Through these modes, you can transfer money to a person’s account, with or without the account details, and even pay utility and other bills."

Marketing Mobile Banking Can Double Average Adoption Rates, Shows Fiserv Analysis
"Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that an analysis of data from the Mobiliti™ mobile banking and payments solution revealed that marketing can significantly impact consumer adoption of mobile financial services. According to the analysis, which looked at data across hundreds of financial institutions, banks and credit unions, financial institutions that have actively marketed mobile banking have experienced an average adoption rate that is twice as high as financial institutions that have not promoted the service."

Mobile Banking Updates - Nov 26

2012 Mobile Banking Market Assessment
"In new research, 2012 Mobile Banking Market Assessment, Mercator Advisory Group explores how retail financial institutions can increase interaction with customers and members to include 24x7, anytime anywhere service, and also expand their reach beyond simple demand deposit account transactions."

IALING FOR DOLLARS: Mobile banking becomes the norm
"As consumers demand more convenient access to financial accounts on the go, banks have adjusted by offering mobile banking and even creating apps for ease of use on smart phones. Mobile banking is dramatically changing the way consumers bank, with features such as person-to-person payments to help friends split the check at dinner and remote deposit capture, so customers can deposit checks without going to a branch."

Ally Bank Launches Next Phase of Mobile Banking
"Ally Bank's suite of customer-centric products and features expands this month to include the second generation of Ally Mobile Banking apps—featuring customers' most-requested capabilities—including Ally eCheck DepositSM, Bill Pay, and fund transfers to and from external banking institutions."

Banking on mobile: security threats, realities and fictions
"For businesses within the financial services sector not all-consumed by RDR and auto-enrolment issues, attention may again be turning to the threats, risks and uncertainties associated with mobile banking and other trends and developments in financial services technology. While the Australian bank Westpac has suggested that "the take-up of mobile banking is much faster than any previous technological innovation in banking," and indicated, according to reports, that it "processes three times more transactions made digitally, compared to transactions made in person," security providers in other parts of the world are stressing the heightened level of intrusion into mobile environments that have occurred during the third quarter of 2012."

BBVA Compass Expands Its Mobile Banking Apps To Include Kindle Fire™ And Windows Phone™
"BBVA Compass today expanded its growing stable of mobile banking apps with the launch of native applications for the Windows Phone platform and Kindle Fire tablet. The bank remains committed to providing native applications for the most popular mobile platforms, allowing users to enjoy a mobile banking experience that is consistent with their chosen devices. BBVA Compass currently provides mobile banking apps for iPhone® and iPad® mobile digital devices, BlackBerry® devices and the Android™ mobile digital platform."

Dickinson Financial Corporation Launches Robust, Multi-Brand Mobile Banking with Mobiliti from Fiserv
"Fiserv, Inc. (NAS: FISV) , a leading global provider of financial services technology solutions, announced today that Dickinson Financial Corporation ("Dickinson"), a $2.1 billion bank holding company based in Kansas City, Mo., has launched mobile banking and bill payment capabilities using Mobiliti™ from Fiserv. Dickinson is utilizing multi-tenancy deployment, supporting six distinct retail banking brands with a single underlying mobile platform. This approach is enabling the company to deliver robust capabilities while realizing operational and product management efficiencies."

Mobile Banking Updates - Aug 29

Apps, a continuing debate: HTML5 vs. Native
"I wrote my last blog about the Future of Mobile Banking Conference more than two months ago, before a busy June, summer holidays, and the Olympics. It’s now time to meet my promise to highlight some of the key points of discussion. One topic which came up several times was the on-going debate between HTML5 and native apps. It’s an interesting debate and an important one, since the decision not only affects the technologies which you will use, but also the resources you will hire, the development and maintenance costs you will pay, and the resultant quality, usability, and performance of your mobile apps. For this reason, a lot of clients with which I have spoken are still struggling to define their mobile development strategy and take a decision one way or the other."

Popular Community Bank Launches Business Mobile Banking App
"Popular Community Bank, one of the nation's premier community banks and a subsidiary of Popular, Inc., announced the launch of the Popular Community Bank Business Mobile application for iPhone® and Android™ devices. This latest advance to the bank’s Mobile Banking Platform has special features for small and mid-size business owners and their staff to manage finances from virtually anywhere."

Technical glitch shuts down cell phone, online banking for Virginia Credit Union
"The problems with Virginia Credit Union’s online banking have been resolved. Full service was restored to members earlier this evening and all systems are functioning normally, said a Glenn Birch, spokesperson for the bank. 'We apologize for the inconvenience to our members and thank them for their patience,' said Birch."

BBVA Compass announces launch of enhanced BlackBerry® App
"BBVA Compass today launched version 2.0 of its free BlackBerry app, adding to its suite of mobile banking capabilities. 'As part of our commitment to continually update all of our mobile banking apps, our new BlackBerry 2.0 app delivers an improved user experience and features new functionality that will be appreciated by our customers,' said Alex Carriles, executive vice president and director of Mobile Strategy and Retail Innovation at BBVA Compass."

Mobile Banking Updates - Aug 5

MOBILE 2.0 BBVA Compass develops own apps
"Mobile banking today is where online banking was about ten years ago, but its development is accelerating rapidly. Following a lukewarm start with software vendors three years ago, BBVA Compass bit the bullet and brought its mobile banking entirely in-house. Now it's rolled out updated apps for Android, iPhone, iPad, and Blackberry and has plans to steadily increase functionality. The bank estimates that 20% of its customers use its mobile apps."

New Mobile App Leads to New Core
"With six total branches, of which five are located inside the walls of the manufacturing facilities and corporate offices of Indianapolis-based pharmaceutical giant Eli Lilly and Co., executives at Eli Lilly Federal Credit Union know how important it is to make access to services quick and easy for members who reside in every state and 37 foreign countries."

Simple Money Handling App For iPhone
"Mobile banking has seen progress in recent years, but it has mostly been based on the networks’ accessibility and willingness to provide the service. However, the flexibility of the iOS has given banks a new way to promote their services wirelessly through applications. Developing applications for Apple’s platforms has become the top priority for most banks while some of the bigger ones such as Citibank and Chase already have functioning applications that let you handle your transactions from your phone. Some pure payment companies such as PayPal have even developed apps that enable you to scan the credit card with the camera and use it to transfer money."

Digital Money, Mobile Wallets and Latin America
"A recent wave of global and regional announcements regarding mobile wallets and payment systems has casual and close followers alike asking some the same questions. What exactly are they talking about? Whether the statements are promoting digital money, mobile payments, mobile banking, prepaid or a mobile wallet, one thing is certain: the lack of consistency in terminology and the vagueness typical of early product releases has made the task of distinguishing all the more difficult with each new announcement, confusing would-be industry participants and potential end-users. So, it would seem that some demystifying is in order:"

Mobile Payments: Can Banks Seize the Moment to Transform Consumer Finance?
"Although payments have existed in some form since the dawn of civilization, there probably never has been as much innovation, uncertainty and activity in the payments space as there is now. Much of that uncertainty has to do with the role -- today and in the future -- of banks in payments. Banks and financial services firms, including the major card companies, continue to provide much of the infrastructure that processes, supports and maintains payments. But it often seems as if most of the innovation around payments that is capturing the hearts and minds of customers (consumers and corporates) is coming from non-bank players, ranging from Internet behemoth Google to a host of much smaller and less-well-known technology firms."

Mobile Banking Updates - Jun 28

Star One Credit Union Partners with Tyfone to Deliver Best in Class Mobile Banking
"Star One Credit Union, the ninth largest credit union in the U.S. with more than $6.0 billion in assets, today announced the availability of its Tyfone powered mobile services to its more than 89,000 members worldwide. Star One partnered with Tyfone to bring industry leading mobile banking services to its members, including Fiserv XP2 core integrated mobile banking, enhanced strong ID authentication mobile security and a seamless path to NFC contactless payment technology."

Personetics Crowned "Mobile Solution Provider of the Year"
"Personetics, a leading provider of consumer interactions technologies to the financial services marketplace, announced that it was selected as the 2012 Mobile Solution Provider of the Year at the 6th Annual Mobile Banking & Commerce Summit. This year, the summit attracted more than 600 senior-level financial services decision makers, solution providers and industry trendsetters for two days of intense networking and workshops. The Summit, presented by American Banker, BTN, Mobile Banker and PaymentsSource, focused on mobile banking usability and the customer experience."

BBVA Compass introduces enhanced iPad app at mobile banking summit
"BBVA Compass introduced version 2.0 of its iPad app Monday at American Banker's Mobile Banking and Commerce Summit in San Francisco. The free app, which will be available at the end of the month, follows in the footsteps of the bank's iPhone app, offering direct enrollment to mobile banking as well as first-to-market features such as free access to weekly economic updates from BBVA Research. It also allows users to pay bills and view check images, transaction receipts, account statements and charts, along with cash flow and pie charts of bill payments."

Intuit Launches Mobile Banking Purchase Rewards for iPhone and Android
"Intuit Financial Services’ new Mobile Purchase Rewards feature for mobile devices lets customers turn their smartphone into a savings tool. Armed with the new mobile banking feature offered by their bank or credit union, consumers can receive and activate customized merchant-funded discounts or rewards that are based on their personal buying habits. Customers then simply swipe their bank- or credit union-provided ATM/debit card to redeem and save money. No coupons. No fuss. The savings are then automatically deposited back in the customer’s checking account at the end of each month."

Clairmail Honored With Frost & Sullivan Customer Value Enhancement Award
"Clairmail, Inc., the leader in mobile banking and payment solutions, today announced it has received the prestigious 2012 Award for Customer Value Enhancement in the Mobile Banking and Payments Services industry from Frost & Sullivan. The award is earned by a company that demonstrates excellence in implementing strategies that proactively create value for Financial Institutions (FIs) with a focus on improving the return on the investment that FIs make in their services or products."

Jack Henry Banking Introduces iBizManager
"Jack Henry & Associates, Inc. JKHY -0.03% is a leading provider of technology solutions and payment processing services primarily for financial services organizations. Its Jack Henry Banking(TM) division announced today the availability of iBizManager(TM), the latest addition to its extensive offering of Internet and mobile banking solutions."

Depositing Checks Using Smartphones is Growing With Mountain America Credit Union's Mobile Deposit App
"Taking a picture of a check with your mobile phone and having it deposited into your account within seconds seems like it would require bleeding-edge technology only available to select national bank customers. But Mountain America Credit Union has been offering the service to its members for nearly a year, and its use has been growing. Though not yet offered by many local financial institutions, Mountain America introduced the mobile deposit feature of its mobile banking smartphone app in July 2011 and has since seen mobile check deposits increase more than 1,800 percent."

Mobile Banking Updates - Aug 23

California Bank & Trust Offers Mobile Banking to Consumer Online Banking Customers
"California Bank & Trust is pleased to announce its new mobile banking service, CBT Mobile Banking. All consumer online banking CB&T customers can enroll in mobile banking immediately following its launch in mid August. The launch of CB&T's mobile banking platform will supplement the bank's relationship-based, customer-centric branch service with the freedom to access account information virtually anywhere a cell phone signal can be reached. By offering mobile banking services, CB&T continues to achieve its goal of creating value for customers by keeping in step with developing trends in financial services technology."

BBVA Provides Access To Mobile Banking With Native Applications - Quick Facts
"BBVA Banco Frances SA (BFR: News ), in order to improve the user experience of mobile banking customers, renewed all its applications for iPhone, iPhone, Android and Blackberry. The company said the new versions were designed specifically for each platform, thus adapting the management of BBVA each mobile phone model."

Mobile Banking App Ideas Rewarded by Monster Offers in "Pitch That App!!!" Contest
"Monster Offers MONT -24.80% , a leading mobile banking solutions company and Daily Deal aggregator, announced today its sponsorship of the "Pitch That App!!!" contest hosted by Iconosys. Monster Offers in conjunction with ZalaPay(TM) will award a $500 pre-paid ZalaPay card to the person who showcases the best mobile application idea that integrates mobile payments and mobile banking solutions."

FirstMerit Bank Sees Strong Adoption Following Launch of Mobile Money from Fiserv
"Fiserv, Inc. FISV -1.25% , the leading global provider of financial services technology solutions, announced today that FirstMerit Bank has launched its mobile banking solution using Mobile Money(TM) from Fiserv. After making the decision to launch its mobile solution, FirstMerit moved decisively, completing the implementation process from start to finish in 120 days. The new service launched in early August, and within the first week approximately 11 percent of active FirstMerit online banking users had enrolled. FirstMerit Bank is a subsidiary of FirstMerit Corporation FMER -3.07% , a $14.3 billion diversified financial services company headquartered in Akron, Ohio."

Mobile Banking Updates - Jan 4

Banks Rolling Out Mobile Apps For Small Business Users
"A growing number of Connecticut banks are adopting mobile banking applications as they compete for younger depositors and customers — especially small business owners — who demand more ease of service on their hand-held devices. Citizens Bank, for example, just launched one of the first mobile banking applications in the Northeast targeted specifically at small business owners. It allows users to manage their cash and payments, approve pending transactions, view account history and transaction details, and receive alerts and bank mail."

Mobile-banking, a springboard for new heights
"K Mahmood Sattar, chairman of the Association of Bankers Bangladesh (ABB) said the new year will see lot of positive changes in the country's banking sector with launching of mobile-based banking. 'I hope, country's banking sector will be benefitted to a large extent in the new year with our strong efforts on fortification of the theme 'financial inclusion' covering the teeming millions through mobile phones.'"

BBVA Compass Launches Native iPad Application
"BBVA Compass today announced the launch of a native iPad™ application that marks the first U.S. mobile banking application that visually goes beyond the traditional on-line banking interface of the few other iPad banking applications. The BBVA Compass Mobile Banking (PD) was released on Dec. 23, just in time for the Christmas holiday shopping season. In addition to the new iPad application, BBVA Compass also offers native mobile banking applications for Android™, BlackBerry® and iPhone™ users. Each of the applications for these mobile devices was built in house to provide greater flexibility and functionality."

RBC introduces a very robust mobile banking app for multiple platforms
"I had the opportunity to chat today with James McGuire and the folks at RBC today about their new mobile app. I had already picked up the iphone version when it was launched Friday, and today James, Eddy and Jill took us through the Blackberry version."

ING Direct's mobile banking apps help keep bank online-only
"ING Direct's mobile banking and investing system went live in July on the iPhone and other devices, and its early success has helped to reaffirm the bank's decision not to build physical banks, its CIO said recently. 'We will never build physical banks,' said ING Direct CIO Rudy Wolfs in an interview. 'Our cost advantage [without buildings] is great. We have great rates and virtually no fees.'"

Alpine Bank Deploys Diebold Mobile Banking
"Alpine Bank of Grand Junction, Colo., ($2.7 billion in assets) has deployed Diebold's MobiTransact hosted mobile banking platform. The bank says it selected the service to remain competitive with larger financial institutions and because of its flexibility, for instance in including bill payment. MobiTransact provides text and browser support to a variety of mobile devices, rivaling Alpine's competitors whose offerings are Web-only versions of mobile banking, which require an online account. With MobiTransact, Alpine Bank can provide its customers immediate access to their accounts without requiring an online banking account."

Mobile Remote Deposit Tools Set to Capture a Wider Market
"For all the hullabaloo that mobile remote deposit capture generated this year, the availability of the service has been limited to a few banks' customers. But that is expected to change in 2011 as banks seek to further differentiate their mobile and online services. In pushing mobile, banks are challenged to come up with uses that show their customers how such services are unique and whether they are safe, said Mark Schwanhausser, a senior analyst at Javelin Strategy and Research in Pleasanton, Calif."

Mobile Banking Updates - Mar 23

AT&T reveals more details on Dell Aero smartphone
"After the official unveiling yesterday of the Dell Aero smartphone, AT&T has posted some additional details about the company’s first Android-based handset, including dubbing it as the 'lightest' Android smartphone yet.

According to the new product page, the Aero will host a 3.5-inch display with nHD resolution. Besides being available on the 3G network, the smartphone also comes with built-in GPS and Wi-Fi."

How banks can use social media and mobile apps
"How are leading banks applying social media and mobile devices in ways that drive revenue and customer value? Spain's BBVA provides an excellent example of how this can be done.

Spain's BBVA, one of the world’s largest retail banks, is offering its customers Tú cuentas (“you count”). It's a web and mobile delivered personal finance tool with all the usual functionality. But it goes further by allowing customers to manage their personal finances better. Tú cuentas offers analysis tools so customers can better understand, set goals and qualitatively improve their own spending and savings habits."

Verizon Wireless Plans eCommerce Mobile Payment Service
"Verizon Wireless and Danal, Inc., the global pioneer and leader in charging eCommerce transactions directly to mobile phone accounts, said today that Verizon Wireless plans to launch Danal's BilltoMobile™ payment service later this spring, enabling Verizon Wireless customers to charge online purchases of digital goods directly to their monthly Verizon Wireless bills.

Verizon Wireless customers will be able to pay for online content and digital goods that are downloaded and consumed on their personal computers from Danal's participating network of popular eCommerce merchant partners. A secure connection and integration between Verizon Wireless and Danal will provide features important to online consumers and merchants, including robust subscriber authentication and fraud protection, among others."

New report examines the case for NFC microSD cards
"'The report starts from the premise that NFC is just one of the features that consumers may demand alongside a wider range of functions and apps such as cameras and games, and that they are unlikely to go out of their way to purchase a mobile handset with NFC until there is a range of stable, attractive services that are easy and convenient to use that make use of that capability,' says Dr Spencer. 'Handset suppliers need the assurance of demand before they will commit to the high development and deployment costs that can only be justified if NFC devices can be manufactured in sufficiently high volumes. We look at whether the introduction of the technology via different form factors, such as unpowered (passive) NFC stickers and NFC-enabled microSD cards could be the answer.'"

Mobile Banking Updates - Jan 20

Haiti Earthquake Puts Mobile Payments in the Spotlight
"While a disaster of massive proportions, the Jan. 12 earthquake in Haiti nevertheless is boosting online giving and mobile payments in particular as U.S. donors seek the fastest way of putting their donations to work in the stricken country. As of 9 a.m. Eastern time Monday, more than 2 million donors had given $21 million in $10 increments to the American Red Cross’s Haitian earthquake-relief effort, according to Tony Aiello, chief executive of mGive, the technology platform of Mobile Accord Inc. Founded in 2005, Denver-based Mobile Accord works with 200 non-profit groups to raise funds via mobile devices."

Discover: Contactless Payment Sticker Users Inadvertently Crippling Performance
"In a cruel twist of fate, hapless contactless payment supporters (a dying breed if ever there was one) were swiped by some more bad news this week, courtesy of a new report from Discover Financial Services. It seems that in a trial of its Zip contactless payment program, most consumers tried to hide the stickers inside their phones, a move that unintentionally cripples performance."

BBVA Bancomer Aims For 500,000 New Mobile Banking Users
"Mexico's largest bank, BBVA Bancomer, said Monday that it aims to sign up half a million clients for its new mobile banking service during the first year of operations. In a press release, BBVA Bancomer said its Bancomer Movil service allows users to check their account balances, transfer money between accounts, and pay for goods purchased at retailers affiliated with the Nipper mobile payment system. "

FNBO Direct Launches CashEdge's POPmoney -- the First Email and Mobile Person-to-Person Payments Service for Banks
"CashEdge, Inc. (www.cashedge.com), the leading provider of Intelligent Money Movement™ services, announced today that FNBO Direct, a division of First National Bank of Omaha (FNBO), has launched CashEdge's person-to-person (P2P) payments service, POPmoney, to its customers. FNBO Direct began offering POPmoney on January 18 through its site www.fnbodirect.com."

Where is the Next-Generation Wallet?
"In the United States and around the world, financial institutions and non-banks are considering how and to what extent they should incorporate mobile financial services into their business models. With worldwide mobile subscriber penetration rates surpassing 50 percent in 2008, these decisions take on an even greater importance for competitive institutions. The evolutionary path plotted by mobile banking and mobile payments can be very different, depending on a variety of factors, including a market's level of banking sophistication, available technologies and experience with antecedent products, services or technologies."

70% of smart phone owners use mobile financial services
"Data Innovation today announced the findings from its first Mobile Money Study, a mobile survey of 246 smart phone users conducted December 2009. Data Innovation, a market research firm specializing in the wireless industry, conducts primary research with an exclusively mobile panel. The study found that nearly 70% of respondents had used at least one mobile banking and/or payment service in the past three months."

“Txt Ur Bank”: How Banks Are Incorporating SMS into Mobile Banking
As anyone walking through a crowd of high school student might notice, texting is one of the most popular forms of communication among young people. It makes sense; it’s a quick and easy way to keep in touch, not to mention easier to send in class than traditional note passing. However, as these teens become financially independent, banks are looking for a way to tap into their favorite mode of communication in order to attract this population of new customers."