Mobile Banking Vendor Updates

Yodlee Announces Global Adoption of Financial Services Platform
"Yodlee, Inc., the leading provider of online personal financial management (PFM) and revenue-generating payments solutions and services, announced details of the rapid adoption in Europeof its Yodlee 10 platform in conjunction with its presentation at FinovateEurope in London today."

Mobile Banking Pioneer Firethorn Shifts Gears
"In the mobile banking business, a one-size-fits-all approach just doesn't cut it, as Firethorn Holdings LLC found out. Now the Firethorn team is focusing on a new loyalty rewards technology. The Qualcomm subsidiary, once considered a mobile banking pioneer, attracted banks that wanted their service preloaded on basic feature phones before the days of the iPhone and other app-friendly devices. It eliminated a lot of the legwork for banks, forming agreements directly with wireless carriers to get apps that aggregated access to multiple financial institutions on their latest phones."

mFoundry Launches mDeposit Express Convertible Mobile Deposit Solution
"mFoundry announced it has launched mDeposit Express, a 'standalone mobile deposit capture solution that banks and credit unions can use to provide customers with an immediate mobile deposit solution, regardless of their current mobile banking platform.' In related mobile banking news, ClairMail announced an impressive 234% year-over-year revenue increase for 2010, along with other assorted growth statistics."

Ericsson launches mobile banking services
"L.M. Ericsson (ERIC) launched its own mobile financial services business today, offering mobile operators, financial institutions and others with a mobile money services that it said can be connected to a real-time, cross-border, cross-currency switching network."

Monitise adds to Visa deal
"Mobile banking services provider Monitise has signed a new deal with its major shareholder Visa, which could lead to forecast upgrades. Visa International owns 14.3% of AIM-quoted Monitise. The extended agreement with Visa announced last summer lasts until June 2015 and there are minimum fees of $16m over the period."

Mobile Banking Updates - Jan 31

Mobile Apps Insecure?
"Banks need to improve cell phone banking applications' security or face losing customers frightened by the risk, security experts say. About 80 to 90 percent of mobile phone-based apps that Chicago-based security firm via Forensics analyzes for security flaws fail its free "appwatchdog" tests. The firm recovered usernames, passwords, transaction data-sometimes all of the above-from the mobile apps offered by five banks over popular Android-based devices and iPhones in November assessments."

Many Moving Parts in Mobile Menagerie
"And then there were three. Lots of big news on the mobile bankingfront in the last few weeks, starting with the fact that Qualcomm-owned Firethorn is finally giving up the ghost after struggling to find its way as a carrier-centric mobile banking venture. It's been a fairly ugly ending, but you've got to give a load of credit to BTN Innovator Hall of Fame member Tripp Rackley. Firethorn-which he sold to Qualcomm in 2007 for $210 million in cash-was Rackley's second big score; he took Internet banking pioneer nFront public in 1999, and then sold it to Digital Insight in 2000 in a $439 million stock deal. No word on what Rackley's next move will be, but he spent the years between nFront and Firethorn as an entrepreneur in residence at a Georgia-based VC firm. Stay tuned."

How to Stem the Tide of Mobile Attacks
"The world is going mobile. The ability to offer banking services, including the ability to make purchases, via mobile devices is increasingly becoming a competitive requirement for financial institutions. According to a 2009 report by analyst firm Informa Telecoms and Media, the number of mobile banking transactions will grow to more than 300 billion by 2013 with an estimated value of $860 billion. Research also estimates the number of mobile users conducting regular banking on their devices will rise to an astonishing 977 million by 2013."

Banks boost mobile capabilities
"Americans love their smartphones: an average of 61.5 million Americans owned a smartphone in the final quarter of 2010, according to comScore. And although a lot of bank customers aren't too crazy about banking on those smartphones yet, banks are continuing to push mobile banking for their checking accounts, savings accounts and other products. A new study Corporate Insight, an industry research firm, finds that of the 16 large banks they survey, all but one offer some kind of mobile banking option to accountholders. Here are some of the other highlights from the study:

Mobile Banking Now Available at Numerica
"Numerica Credit Union just announced that mobile banking is available for members who use smart phones or who use web-enabled phones. Numerica members enrolled in Home Banking can now access their accounts from their web-enabled phone, smart phone, BlackBerry, Android, iPhone or iPad."

Qualcomm Names Rocco Fabiano President of Firethorn

"Qualcomm Incorporated, a leading developer and innovator of advanced wireless technologies, products and services, today announced the appointment of financial services industry veteran Rocco Fabiano to lead the Company's mobile commerce subsidiary, Firethorn Holdings, LLC. As president of Firethorn, Fabiano will provide strategic direction and lead Firethorn's expansion into new markets. Fabiano succeeds Firethorn founder Tripp Rackley, who will be transitioning to a new role on Firethorn's advisory board." >> Continue Reading

Mobile Banking Updates - Dec 18

M-Commerce World Summit 2010
"M-Commerce World Summit 2010 will draw together highly-regarded speakers representing the mobile network operators, banks, money transfer providers, mobile transfer networks, mWallets and ‘interoperability hubs’, handset manufacturers, technology and equipment providers will be invited to share their latest efforts in launching mobile financial services and the key challenges facing them at M-Commerce World Summit 2010."

eCommLink, CPNI Partner for Mobile Prepaid Debit Solutions
"CPNI and eCommLink have announced they will be partnering to offer CPNI’s mobile solutions to the prepaid debit card industry. The companies say they will jointly market to eCommLink’s existing program manager and financial institution customers - effectively 'mobilizing card programs already in place.'"

Free Mobile Payments with the mPayy Android App
"mPayy's Android app uses the API services available from the mPayy application in order to bring a complete mPayy experience directly to the deck on your Android phone. The mPayy Android application enables users to make and receive payments, track activity, and withdraw funds from their mPayy accounts to linked bank accounts. Small business account holders are also able to issue refunds for any sale through the application, even if it occurred on their website."

Monitise on a roll with new partnerships
"Monitise, the provider of mobile banking and payments technology solutions, says it is on track for full-year revenue expectations on the back of record consumer growth. The group has also announced two new partnerships and 15.8m of additional funding, partly aimed at extending mobile banking into the retail sector. Revenue is expected to exceed 1.7m for the half-year to 31 December, an increase of at least 55% on last year's 1.1m."

Pennsylvania State Employees Credit Union Selects Firethorn for Mobile Banking Services
"Firethorn Holdings, LLC, a Qualcomm company, today announced that Pennsylvania State Employees Credit Union (PSECU) has selected Firethorn's mobile banking services for its more than 365,000 members. PSECU has more than $3 billion in credit union assets.

'PSECU maintains a branchless business model so expanding into the mobile environment gives PSECU a new avenue to provide innovative and convenient services,' said Dave Vigil, senior vice president of Firethorn. 'We look forward to helping PSECU grow and evolve its mobile strategy to better serve its members.'"

ClairMail Receives 2009 Market Penetration Leadership Award in Mobile Banking From Frost & Sullivan
"ClairMail, Inc., the leader in mobile banking and payment solutions, today announced that it was awarded the 2009 North American Market Penetration Leadership Award in Mobile Banking from global research organization, Frost & Sullivan. Recently named by Bank Technology News as a Leading Mobile Banking Innovator for 2009, ClairMail continues to distinguish itself as a leader in the financial services industry with this prestigious honor."

Mobile Banking Updates - Nov 29

Qualcomm’s Mobile Payment Strategy: Fix the “Costanza Wallet”
"While Qualcomm for many is synonymous with wireless, the company acquired Atlanta-based mobile banking startup Firethorn two years ago with an eye to also becoming a major player in the mobile payment space. More importantly, it acquired Firethorn founder Tripp Rackley — the man it hopes will make Qualcomm the Western Union of mobile."

MasterCard Canada Brings PayPass to BlackBerry Smartphones
"In partnership with BMO Bank of Montreal and Research In Motion, MasterCard Canada has announced that it is bringing mobile payments to BlackBerry smartphones through its MasterCard PayPass 'tap and go' contactless payment technology. MasterCard is beginning a four-month trial in which participants will use PayPass Mobile Tag-equipped BlackBerry smartphones to make purchases at any of the 8,500 merchant locations in Canada that accept MasterCard PayPass. As announced, the trial is contactless sticker-based and doesn't appear to include any application integration with the Blackberry handsets."

Banks Cooperate for Smart Phone Banking
"Local banks are working together to develop a standard system for smart phone-based mobile banking services prior to the upcoming debut here of Apple's iPhone, which continues to lead the global smart phone market.

According to industry sources, the Mobile Financial Council (MFC) plans to introduce a standard system for mobile banking services for smart phones late this month. The MFC is a joint council formed by 17 banks and other financial services providers, and the Korea Financial Telecommunications and Clearings Institute (KFTC)."

Money transfer to be No. 1 phone app in 2012
"We’ve talked before about how mobile banking is not only becoming more popular, but easier than ever. More and more people are putting aside their fears about transferring personal financial information via mobile networks in favor of convenience. Banks are responding by creating mobile applications that do everything from allowing members to check balances, transfer money between accounts, and even deposit checks. They’re also striving to make mobile banking as secure as possible. These advances, and probably to a larger degree, the fact that consumers use their cell phones nearly as much as their computers, have led information technology research company Gartner to predict that money transfer will be the most used type of phone application in 2012."

Digital Insight, MMV Partner on Mobile Banking
"Digital Insight has named Mobile Money Ventures, a joint technology launch by Citi and SK Telecom, as the online banker’s preferred mobile financial services provider."

BAI Mobile Banking Announcements - Nov 4

ClairMail Signs Development and Deployment Agreement to Integrate Visa Mobile Services Into Its Mobile Banking Platform
"ClairMail, Inc., a leader in mobile banking and payment solutions, today announced that it has signed a development and deployment agreement with Visa Inc. (NYSE: V), the world's largest retail electronic payments network, that allows ClairMail to integrate Visa mobile services into the mobile banking and payments infrastructure that ClairMail provides to leading financial institutions.

ClairMail bank customers who are also Visa clients can take immediate advantage of Visa's mobile services by adding them to an existing mobile banking deployment and creating a more comprehensive mobile banking offering. Visa mobile services include applications that support mobile payments, tailored merchant offers, and near-real time transaction alerts and notifications."

Mobile Money Ventures to Help Digital Insight Deliver Next Generation Mobile Solutions
"Mobile Money Ventures (MMV), a leading global solutions provider of the next
generation of mobile financial services, announced today it is teaming up with
Digital Insight, the financial institutions division of Intuit Inc., to make
next generation mobile solutions more broadly available to financial
institutions. The agreement was announced today at the BAI Retail Delivery
conference in Boston.

'In today`s strained economy, Americans are looking to their bank or credit
union for help managing their finances,' said Albert Ko, senior vice president
of online financial management at Digital Insight. 'Working with MMV expands our
mobile capabilities to help financial institutions put more information in the
hands of end users, no matter where they are.'"

FIS Integrates PayPal for Global Person-to-Person Payments
"FIS has announced that it is integrating PayPal's person-to-person (P2P) payment system into the FIS online bill payment application for financial institutions. FIS says that 'by integrating paperless P2P functionality into its online bill payment application, FIS empowers banks and credit unions to simultaneously solve for a real consumer need and drive increased transaction activity at the online channel.

'Adding electronic person-to-person payments to our bill pay solution is the intersection of financial institutions` cost cutting objectives and consumers` desire to centralize their paperless transactions with their trusted bank or credit union,' said Frank D`Angelo, executive vice president, FIS Payment Solutions Group."

Fiserv Plans New Person-to-Person Payment Service
"Fiserv has announced plans for a new personal payments service that it says 'will enable individuals to quickly and easily send or receive money person-to-person using their existing online banking relationship. The service will be made available to the more than 3,100 financial institutions in the Fiserv online payment network, linking users with their friends, family, neighbors and colleagues.'

'Consumers are showing an increasing preference for managing their finances online, and it is natural for them to turn to their trusted financial institution for any payment service, whether it is a bill payment or a personal payment,' said Erich Litch, senior vice president and general manager, Consumer Services, Fiserv. 'The personal payments service from Fiserv enables banks and credit unions to deliver an innovative online financial management tool, providing users with the convenient capability to pay anyone and deepening their relationship with the institution.'"

CU*Answers and Firethorn to Deliver Mobile Banking Services
"Firethorn Holdings, LLC, a Qualcomm company (Nasdaq: QCOM), and CU*Answers today announced that the credit union service organization has selected Firethorn's Mobile Banking application and SMS service for its more than 165 credit unions. CU*Answers represents more than 1.5 million members with more than $10 billion in credit union assets."

Summary of Interviews with Mobile Banking Vendors

It's official, I have now published the notes from all 8 of my mobile banking interviews. If you missed the beginning of the series and you're unsure what I'm referring to...please continue reading.

In July, to assist you with 2010 planning, I interviewed the CEO of nearly every mobile banking vendor in the U.S., and asked them a series of questions related to: pricing, ROI, security, adoption, the future of mobile banking and the iPhone. Then, during August and early September I began publishing the information.

CEOs of Mobile Banking

Scott Moeller (MShift)

Adam Clark (MCOM)

Pete Daffern (Clairmail)

Steve Kietz (MMV)

Tripp Rackley (Firethorn)

Lisa Stanton (Monitise)

Drew Sievers (mFoundry)

Cameron Franks (Sybase)

Tripp Rackley (Firethorn) on Mobile Banking and Mobile Commerce

Today I'm excited to publish the notes from my interview with Tripp Rackley, CEO - Firethorn. To learn more about Tripp visit the Firethorn website.

Q: What’s your differentiator? What sets your mobile banking solution apart from the competition?

A: A few years ago all mobile banking vendors were lumped into one category, but many of the companies that the industry would consider as Firethorn’s competitors have mobile platforms that can accommodate only account servicing (balances). Firethorn was not formed to service accounts – we are not trying to replicate internet banking on the phone. The focus needs to be on mcommerce and payments.

From a banking perspective it comes down to just 2 things:
1. Great distribution across ATT & Verizon, the two largest wireless carriers.
2. Scale to support all operating systems. Android doesn’t have mass adoption yet but Firethorn has already built the platform.

Q: Who are your key clients?

A: Synovus, BancorpSouth, Arvest, America First, USAA, CitiCards, SDCCU, BECU, Wachovia, SunTrust, Regions

Q: Who are your key partners?

A: AT&T, Verizon Wireless, CellularSouth, CheckFree, FundTech, FTPS (Fifth-Third Processing Solutions), Mastercard

Q: Budget season is just around the corner, and the #1 question bankers want to ask is – What’s it going to cost me?

A: The key to success is – don’t limit it to mobile banking. This is a path to mobile commerce until consumers can access all of the brands they want, with the phone they have, through the channel they prefer.

Mobile will not have the same ROI as online banking until there is scale, but this is coming. Initially, clients will use mobile in addition to the existing channels, but in time these will become “replacement transactions” that will extract expense from the system.

Understanding cost is important, but the real cost is in people and support. The ROI play today is to capture customers with mobile that did not adopt online banking. This is where handset enrollment comes into play and could be substantial for an FI.

Q: What components of your ROI model have begun to materialize?

A: There’s only ROI where you can change the consumer behavior – promote mobile over a more expensive channel.

All major brands need mobile. If you choose to ignore mobile it would be like saying, “we’re not going to embrace the internet,” or even worse because mobile is so much more prevalent.

Q: What do the demographics of your users look like?

A: Our users are more demographically focused than handset focused and match the general industry data of 18 to 35.

Q: What do the usage patterns look like? Balance, History, Transfers, BP, Locator?

A: Firethorn is very pleased with the usage trends.
• Avg. logins of 4-5/week
• Avg. 3 transfers/month
• Avg. 2 bill payments/month

Q: What security elements are incorporated into your application?

A: Security should be prevalent to the consumer but easy to use, and all heavy security should be hidden. It’s about the form factor. With an ATM the client uses a PIN. It would be inappropriate to ask for an online banking password at the ATM.

Yet, some FIs want the mobile banking password to match the online banking password. This is not appropriate – the form factor isn’t right. It’s wrong to approach mobile as an extension of the online banking.

Q: How likely are biometrics to become a component?

A: I spent time looking at biometics before starting Firethorn, but it was just too early. There’s a heavy fear of biometrics, and the domestic devices are not equipped with the necessary hardware.

Q: How has the iPhone changed your approach to the business?

A: The iPhone has had a major emotional impact on the industry and has brought about “freedom” for all smart devices. The iPhone is an exceptional device that is beautifully designed and very successful, but it doesn’t cover the mass market. Some institutions have reacted with just an iPhone application or just a Blackberry application, but you need to offer what the market demands. You must address them all. You can not pick just one.

Q: What has been your biggest surprise/lesson-learned over the last couple of years?

A: Going into 2010 mobility should not be a question – it’s a must have. You can not pick just one mobile channel as a strategy. You must address consumers the way they want to be addressed.

Q: What big industry development should we expect within the next 12 months?

A: NFC still has a long time to go. There will be implementations of NFC but still in trial environments. I’m “bullish” on mobile commerce.

Additionally, Firethorn has invested heavily in research to confirm what consumers really want and need; this helps shape our product and also helps our partners better market to their key audience with the right message.


Q: What can banks do a better job of to facilitate adoption?

A: You must get mobile in front of the customers. Incorporate mobile into all of your existing media: banner ads, radio, print.

This craze is similar to the beginning of the internet. This is the time to capture customers. There are people purchasing a device, walking out of the store, and then sitting down and looking for things to do with it. It’s phenomenal!

Interviews with Mobile Banking Vendors

I'm proud to announce that the Mobile Banking blog is now half way through the interviews with the top U.S. mobile banking vendors. Here's a recap in case you missed one of the articles:

Scott Moeller - MShift

Adam Clark - MCOM

Pete Daffern - Clairmail

Steve Kietz - Mobile Money Ventures (MMV)

And don't forget to check back over the next few weeks as the Mobile Banking blog will be publishing the interviews with Firethorn, Monitise, mFoundry and Sybase.

Budgeting for Mobile Banking?

We are on the cusp of the 2010 budget season, and I decided to launch an initiative to make your lives a little easier. Starting tomorrow I'll begin publishing my notes from interviews that I've conducted over the last month with presidents, CEOs and directors of the largest mobile banking vendors in the U.S. During the interviews I asked questions related to: pricing, ROI, security, adoption, platform differentiators, key clients, key partners, demographics, usage, the future of mobile banking and the iPhone. To be fair I'll publish my notes in the order in which the interviews were performed:

1) Scott Moeller - MShift
2) Adam Clark - MCOM
3) Pete Daffern - Clairmail
4) Steve Kietz - Mobile Money Ventures
5) Tripp Rackley - Firethorn
6) Lisa Stanton - Monitise
7) Drew Sievers - mFoundry
8) Cameron Franks - Sybase

Also, as you may have noticed over the last few months, the Mobile Banking Blog has been working hard to raise money for the St. Jude Childrens hospital; yet, our success has been limited a tough economy. Until now! Today, I'm proud to announce that a mobile banking vendor has offered to make a donation to the charity in exchange for the placement of a banner ad on the site and I've gladly said - YES. The St. Jude Children's Hospital is the premier research center for pediatric cancer, and St. Jude is the only center where "no child is ever denied treatment because of the family's inability to pay." >> Learn More

Mobile Banking - Firethorn

Firethorn Increases Mobile Banking Security With Full PCI Compliance
"Firethorn Holdings, LLC, a Qualcomm company (Nasdaq: QCOM), today announced enhancements to its mobile banking and payments application to adhere to the industry's most rigorous benchmark for secure credit card transactions - the Payment Card Industry (PCI) Data Security Standard (DSS)."

Is It Time to Ditch the Laptop for a Smartphone?
"When I suddenly realized that I'd forgotten to pay a bill, the iPhone also offered a solution. Using Mobile Banking on AT&T, a free program developed by Qualcomm's Firethorn, I was able to transfer funds and pay my bill online, much to my relief."

Beware of iPhone Mobile Banking Reviews

On Friday I was browsing through the mobile banking applications in the iPhone app store, and discovered something a little surprising...the scores/rankings are a little skewed.

For instance, I know that the Firethorn app (ie Mobile Banking on AT&T) is very solid yet they are #15 on the list. A little confused, I decided to dig deeper into the customer reviews to see where they were losing points.

After reviewing the first 40 entries I discovered that on 15 of the 40 rankings Firethorn had scored poorly because the reviewer was upset that banks such as Hagerstown Trust and Ephrata National were not participating banks. As it stands today the Firethorn app receives 3 of 5 stars, but if you subtract out the garbage entries they actually score a much more impressive 4.5 of 5.

Mobile Banking Updates - Jun 14

Mobile Banking Is Now a Must-Have for Banks
"Since its inception, people have been asking if banks are getting into mobile banking as a way to keep pace with the competition or as a way of providing true value to customers and the institution. The consensus among bankers at a panel on mobile banking at Celent's Innovation and Insight Day seems to be it's a little of both. Senior analyst Jacob Jegher moderated a discussion with three bankers and one alternative financial services provider. All agreed with what others in the industry have long been saying—that mobile is where the business is going."

Firethorn Launches Mobile Banking Apps for Android G1 Phones
"irethorn has launched a new Android mobile banking app. Firethorn's mobile banking Android application allows G1 users to securely manage their finances, including checking balances and transaction history, transferring funds, receiving offers, viewing and paying bills, and tracking rewards points."

Testing the limits of new banking technology
"With today’s tech-happy consumers, providing them with the latest gadget or innovative service could lead to a happier bank customer. Banking today is about more than just parking your money in a brick and mortar facility or even with an online system. Customers, especially younger ones, expect innovation. To that end, U.S. Bank is involved in several trials that if deemed viable, could find their way into customer’s wallets, desktops and even mobile phones."

#1 in Mobile Banking - 2008 Awards

While last year was certainly challenging, I believe there were also a number of significant accomplishments within the mobile banking industry. That said I'd like to offer up the following awards for 2008:

#1 Text Mobile Banking - Clairmail

#1 Browser Mobile Banking - mShift

#1 Mobile Banking Wallet - Firethorn

#1 iPhone Mobile Banking - mFoundry

#1 3-Channel Mobile Banking - MCOM

#1 Mobile Banking News & Information - Bank Systems & Technology

#1 Mobile Banking Adoption - Bank of America

#1 Mobile Banking Marketing - Bank of America

#1 Overall Mobile Offering - JP Morgan Chase

#1 Mobile Banking Innovation - Citi/Mobile Money Ventures

#1 Business Mobile Banking - Wells Fargo

#1 Mobile Banking Research - Tower Group

#1 Text Banking Aggregator - Verisign

#1 Mobile Payments - First Data

#1 Mobile Banking Development Tool - Device Anywhere

#1 New Mobile Banking Technology - Mitek

Mobile Banking Updates - Nov 16th

Firethorn Introduces New Capabilities To Enhance Mobile Banking and Payments
"Leading mobile commerce enabler Firethorn Holdings, LLC, a Qualcomm company, today announced the introduction of its mobile application upgrade which will enable Firethorn to transition its financial institution and wireless operator relationships from banking to broader mobile commerce functionality."

A Look at RBC's Mobex Mobile Payment Service
"In late September, RBC Royal Bank in Canada announced the launch of a trial of a text message-based mobile payment service called RBC Mobex. We recently heard from a colleague in Canada who's delighted with the service."

Monilink reaches 1 million transactions in October
"Monitise's UK mobile banking service Monilink reveals it has processed over one million transactions during October, a 15 percent increase compared to the previous month."

First Interstate - Mobile Banking Security Using SMS
"First Interstate Bank, a regional bank with 50 locations and 100 ATMs in Montana and Wyoming, has launched a mobile banking site at firstinterstate.mobi."

mFoundry to Provide Mobile Banking & Payments Solutions to Zions Bancorporation
"Mobile financial services leader, mFoundry today announced that Zions Bancorporation has selected mFoundry's financial services platform to power its mobile banking and payments offerings."

Chase Mobile Banking from Firethorn

There's a rumor that Chase is preparing to launch a downloadable mobile banking solution; yet, I haven't seen a press release and there's very little to support the claim...until now.

Over the weekend I was checking out a friends new Sony-Ericsson w760a from AT&T when the Chase logo jumped off the page with the words "Coming Soon." I have not been able to confirm or deny the hunch, but to date there's only one vendor that gets preloaded onto AT&T handsets and the Chase logo was grouped with the traditional list of Firethorn clients.

PNC Mobile Banking from Verizon

Verizon has promoted the Firethorn mobile banking application for some time; however, I recently discovered that they are also now promoting the PNC mobile banking application powered by mFoundry. Click here to visit the download page.

Firethorn and Fifth-Third Processing

Firethorn Holdings has announced that "it has entered into an agreement with Fifth Third Processing Solutions to bring mobile banking services to its 2,880 financial institutions. As part of the relationship, Fifth Third Processing Solutions will offer Firethorn's products to its processing financial institution clients, leveraging existing integration and connectivity to deploy Firethorn's mobile application. Fifth Third Processing Solutions plans to make the service available to its financial institutions before the end of the year. Continue Reading >>

Mobile Banking Updates - Aug 5th

Fundtech and Firethorn to Provide Mobile Corporate Cash Management
"Fundtech Ltd., a market leader in global transaction banking solutions, and mobile commerce enabler Firethorn Holdings, LLC, a Qualcomm company announced today that the two companies will work together to add mobile connectivity to Fundtech's CASHplus cash management system."

The Grameen-Obopay Bank A Billion Initiative
"Obopay Inc., a service provider for payments via mobile phones, and Grameen Solutions, the company globally recognized for promoting economic and social development through information and communications technology, have announced an alliance - 'The Grameen-Obopay Bank A Billion Initiative', to use mobile technology to deliver banking services to a billion of the world's poorest people by 2018."

Banks Down Under Monetize Mobile
"The National Bank and ANZ, related New Zealand banks, have been charging for mobile services—as have all their competitors—since they went live with the offering more than a year ago."

Mobile Summit & Updates for Week of 6/23

I'm just returning from the 2nd Annual Mobile Commerce Summit, and I'd like to take a moment to thank Emily Otani and the team at SourceMedia. The mobile banking content was fresh, the speakers were first class, and the venue (Caesars) was the ideal location.

I'm still organizing my notes so you'll have to wait a few more days before I share any of the content; however, there are still lots of newsworthy items. For instance...

Mobile Money Ventures and Android
"Mobile Money Ventures, a joint venture of Citi and SK Telecom, has announced that its solution for mobile financial services is compatible with Android, a software stack for mobile devices that includes an operating system, middleware and key applications."

BECU Signs On with Firethorn
"Firethorn Holdings LLC, a Qualcomm company, today announced that it has added BECU (formally known as Boeing Employees' Credit Union) to its growing roster of financial institution customers."

Mastercard and Obopay Join up for P-2-P
"MasterCard is partnering California-based Obopay to provide an on-demand person-to-person (P2P) mobile payments service to its US cardholders. The service - offered via MasterCard's P2P money transfer system MoneySend - will enable issuing banks to provide a mobile payments service to cardholders on all credit, debit and prepaid MasterCard-branded products."

Delta Mobile an mShift Design (http://mobile.delta.com)
"Delta Air Lines Inc. has hooked up with the Transportation Security Administration (TSA) at New York's LaGuardia Airport to let Delta fliers use their Web-enabled mobile devices to check-in and get an electronic boarding passes."

iPhone Effect on Mobile Banking
"Mobile banking has had its fits and starts, and it has a long way to go before most consumers try it, let alone make it second nature. But let’s face it: There’s no one in the banking industry like Steve Jobs."

ABSA Reaches Half Million Mobile Banking Clients
"After a cautious beginning a few years ago, Cellphone Banking is starting to deliver on its promise of putting ‘your bank in your pocket’, and allowing you to transact anywhere you go. Absa Bank this week celebrated its first major milestone for this emerging banking channel, reaching half-a-million Cellphone Banking customers. Absa’s Managing Executive for Digital Channels, Christo Vrey, says that with 38 million cellular subscribers nationwide, there is a great opportunity for the mobile channel to become the primary banking interface for many South Africans."

Mobile-banking apps with mobile carriers
"Financial institutions are looking to mobile banking as a way to round out their banking options, providing their customers and members more convenient ways to bank. And wireless carriers are offering more ways to get on the mobile-banking bandwagon, connecting FIs to their networks. “It’s a bit of ‘Gold Rush,’” said Nick Holland, a senior analyst at Boston-based Aite Group. 'Mobile banking is almost not an option.'"