"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
Showing posts with label Javelin. Show all posts
Showing posts with label Javelin. Show all posts
Monday, November 25, 2013
Tuesday, October 29, 2013
How To Get The Most Out Of Mobile Banking Apps
"Most banks have a few years of experience in mobile banking now and are looking ahead to what their next upgrades to mobile will be. The question facing all of these institutions and their IT teams is how can they get the most out of their mobile channel, says Vijai Shankar, director of product marketing at Kony, a mobile applications developer.
It’s vital that banks take full use of the capabilities that mobile offers because mobile transactions are the cheapest for the bank to process, Shankar argues. For example, banks save an average of $4.15 in processing costs for every check that is deposited through mobile rather than the branch, according to a report released earlier this year by Javelin." Continue Reading
It’s vital that banks take full use of the capabilities that mobile offers because mobile transactions are the cheapest for the bank to process, Shankar argues. For example, banks save an average of $4.15 in processing costs for every check that is deposited through mobile rather than the branch, according to a report released earlier this year by Javelin." Continue Reading
Sunday, August 4, 2013
Mobile Banking Updates - Aug 4
Americans Rate the Best and Worst U.S. Mobile Banking Apps in New Report From Xtreme Labs
"Xtreme Labs, the leader in mobile strategy and product development, today released a new report on the best and worst mobile banking apps in the U.S. as rated by customers themselves. The U.S. Banking Apps Report: Customer Reviews by Xtreme Labs analyzed customer reviews from the Apple App Store and the Google Play Store between May 18 and June 25, 2013 for the top 53 U.S. banks (as ranked by total assets)."
The Circuit: Innovating Incrementally in Mobile Banking
"So many banking conferences reinforce the same idea: banks must think differently about their businesses to stay on the industry's leading edge. That certainly was one of the takeaways from a recent conference on mobile banking. But so was this: in the near future, if not already, banks will have to think differently just to keep pace with the world around them."
MOBILE SAVINGS Big potential savings from switching branch transactions to mobile
"Mobile bankers are valuable bank customers; rich, young, and flush with profitable bank products and services. And the service is saving institutions money; as the number of mobile bankers has grown, branch visitation has decreased considerably, says a report by Javelin Strategy and Research."
Innovations continue to change banking industry
"In June 1978 when Jerry Jacobson started working at Northwestern Bank in Chippewa Falls, the paperwork for most loans consisted of just one piece of paper. Now, a loan for a home mortgage frequently runs 30 or 40 pages."
Marketing Strategies To Shatter The Mobile Banking ‘Glass Ceiling’
"At most financial institutions, mobile banking adoption rates typically hit a 'glass ceiling' of 15 to 20 percent of all online banking customers. But you don’t have to settle for that as the maximum cap. Here’s what you need to send adoption rates through the roof."
BBVA Compass courts micro-businesses with new mobile banking solution
"BBVA Compass today introduced its Business Mobility Bundle, designed to provide micro-businesses — the smallest of small businesses — everything needed to manage their finances on the go. Representing about 95 percent of all small businesses, micro-businesses are extremely mobile, with many of their financial transactions occurring away from owners' homes or offices. Micro-businesses typically generate less than $500,000 in annual revenue."
Mobile and Beyond: How Banks Are Catering to Tech-Savvy Customers
"Technology has become an integral part of daily life for most people. And with greater technological capabilities comes steeper demands from users. With a dramatic shift in customer preferences, banks are trying to keep up with that demand -- and some are falling short. Though some are slow to catch up, there are plenty of options for banks with vision to give customers what they want."
"Xtreme Labs, the leader in mobile strategy and product development, today released a new report on the best and worst mobile banking apps in the U.S. as rated by customers themselves. The U.S. Banking Apps Report: Customer Reviews by Xtreme Labs analyzed customer reviews from the Apple App Store and the Google Play Store between May 18 and June 25, 2013 for the top 53 U.S. banks (as ranked by total assets)."
The Circuit: Innovating Incrementally in Mobile Banking
"So many banking conferences reinforce the same idea: banks must think differently about their businesses to stay on the industry's leading edge. That certainly was one of the takeaways from a recent conference on mobile banking. But so was this: in the near future, if not already, banks will have to think differently just to keep pace with the world around them."
MOBILE SAVINGS Big potential savings from switching branch transactions to mobile
"Mobile bankers are valuable bank customers; rich, young, and flush with profitable bank products and services. And the service is saving institutions money; as the number of mobile bankers has grown, branch visitation has decreased considerably, says a report by Javelin Strategy and Research."
Innovations continue to change banking industry
"In June 1978 when Jerry Jacobson started working at Northwestern Bank in Chippewa Falls, the paperwork for most loans consisted of just one piece of paper. Now, a loan for a home mortgage frequently runs 30 or 40 pages."
Marketing Strategies To Shatter The Mobile Banking ‘Glass Ceiling’
"At most financial institutions, mobile banking adoption rates typically hit a 'glass ceiling' of 15 to 20 percent of all online banking customers. But you don’t have to settle for that as the maximum cap. Here’s what you need to send adoption rates through the roof."
BBVA Compass courts micro-businesses with new mobile banking solution
"BBVA Compass today introduced its Business Mobility Bundle, designed to provide micro-businesses — the smallest of small businesses — everything needed to manage their finances on the go. Representing about 95 percent of all small businesses, micro-businesses are extremely mobile, with many of their financial transactions occurring away from owners' homes or offices. Micro-businesses typically generate less than $500,000 in annual revenue."
Mobile and Beyond: How Banks Are Catering to Tech-Savvy Customers
"Technology has become an integral part of daily life for most people. And with greater technological capabilities comes steeper demands from users. With a dramatic shift in customer preferences, banks are trying to keep up with that demand -- and some are falling short. Though some are slow to catch up, there are plenty of options for banks with vision to give customers what they want."
Sunday, July 7, 2013
Mobile Banking Updates - July 7
"Banking fees appear to be coming to your phones and tablets. As more and more banks offer the speed and convenience of mobile banking they are also finding that it can be a lucrative revenue stream as well."
Jack Henry Service to Help Banks Prepare for Digital Banking Rules
"Although there are few industries as heavily regulated as banking, Washington has yet to provide clear rules around online and mobile banking. With that in mind, Jack Henry & Associates is launching a framework to help banks navigate federal and state standards for their online and mobile banking operations. The service is called Gladiator."
How to Modify Mobile Banking Behaviors to Maximize Cost Savings: Javelin
"Financial institutions are reaping huge cost savings as consumers, in droves, switch from brick and mortar banking to mobile banking, but most are leaving money on the table because they fail to take a few, small steps to modify consumer behaviors, claims a new study from Javelin Strategy & Research. Javelin numbers peg the average cost of an in-branch transaction at $4.25. The same transaction performed with a mobile device costs a dime, said Mary Monahan, who underlined that this highlights the economic incentives in driving mobile traffic."
Research and Markets: Leveraging An Omnichannel Approach To Drive $1.5B In Mobile Banking Cost Savings
"Mobile bankers are valuable customers: rich, young, and flush with profitable bank products and services. The products and services are saving financial institution money as the number of mobile bankers has grown, branch visitation has decreased considerably. However, mobile channels have not yet offset physical channel preference among mobile bankers."
100 mobile industry leaders to take MobileBeat by storm
"MobileBeat 2013 is coming up next Tuesday and Wednesday, July 9-July 10, in San Francisco, and we’ve got over 100 thought leaders lined up. This is your chance to learn from the top people in the mobile industry, from executives at major handset manufacturers to the founders of some of the hottest mobile startups."
Union Bank launches new website, mobile banking
"Union Bank has announced the launch of a new corporate website as well as a mobile site and mobile banking application (app). The website offers a number of new features including online applications for opening a new account, online help and resources, and several educational modules on getting smart about credit, fraud protection and more.
Credit Union Mobile Banking Adoption Rates Skyrocket
"Mobile banking adoption rates are exploding, soaring from 20% in 2011 to 33% today, according to a 2013 survey by non-profit electronics payment organization, SWACHA. Only four years ago mobile banking adoption rates were at a meager 7%, demonstrating that the available technology has ignited a revolution and direct shift in how consumers do business with their financial institution."
Interneer Selected by Los Angeles Firemen's Credit Union to Streamline and Automate Member Services and Online Banking
"Interneer, Inc., a leading provider of Business Process Management (BPM) software for process automation applications and smart mobile apps, today announced that Los Angeles Firemen's Credit Union (LAFCU) selected Interneer Intellect 7 to streamline and automate member services and online banking, resulting in an improved customer experience, greater operational efficiency, and audit compliance."
Thursday, April 25, 2013
Mobile Banking Updates - April 25
Refi Party Is Over, Mobile Money Party Is Just Beginning
"Mobile Money: Anglocentric coverage in today's FT. "For prospective employees mobile banking could prove one bright spot for pay and prospects in the sector," says one story. "Retail banks are expecting mobile banking to be the area where the most roles will be created this year, ahead of branch and internet banking." Another article looks at the competitive threat to incumbent U.K. financial institutions from nonbanks selling phone apps, prepaid debit cards, etc. "Banks will have a hard time coming down and playing in this space because of their regulators," a payments industry lawyer tells the FT. Sound familiar?"
4 tips for finding the best mobile banking
"Mobile banking use is exploding, and banks are quickly adding new services. Last year, 10 million more people signed up for mobile banking, according to Javelin Strategy & Research in Pleasanton, Calif., driven by soaring smartphone and tablet use. And, one-third of the U.S. population is now tapping into mobile banking, versus one-fifth in 2010. But mobile services vary widely. Here's the mobile banking landscape you're likely to encounter and how to choose the best bank and apps for you. Big banks such as JPMorgan Chase & Co., Bank of America and Citi have led the charge, offering the most robust mobile banking technology, says Mary Monahan, Javelin's research director of mobile. And they consistently head the class in mobile banking service quality rankings, though regional banks are also quickly adding mobile services."
CO-OP Introduces Mobile App for iPad
"Credit union clients of CO-OP Financial Services are now able to offer their members a mobile banking app for the iPad tablet. The new app will let members account balances and cash flow charts that summarize debit and credit activity; account history; transfers; and GPS-enabled access to CO-OP Network ATM or CO-OP Shared Branching locations, the payment CUSO said. In addition, the app enables each credit union to customize with member access to their own hosted web pages for loan/account opening services, rates and promotions; or social media sites such as Twitter, Facebook, LinkedIn and YouTube."
Regions online banking goes down due to "network issue"
"Many Regions Bank customers were without online banking access Monday after what the company calls an 'intermittent network issue.' The bank said in a statement on their Facebook Monday they are experiencing a network issue which is impacting some customer's ability to access their website. Those wishing to access the company's website, Regions.com, were taken to a Network Solutions backorder domain website. 'I've been trying to log on off and on since this morning and it is a different page and says the domain no longer exists. I didn't type any info in because I was afraid I'd be hacked,' says Leanne Eldridge."
Wells Fargo's Big Idea: Shrinking Branch Office
"Can neighborhood bank branch offices works smarter, and not harder? Oh, and can they work smaller, too? Wells Fargo (WFC) aims to find out starting this month. The San Francisco banking giant opened a branch Monday in Washington, D.C., that is one-third the size of the usual and comes well-stocked with such features as mobile banking, new ATMs and image-based bank deposits."
"Mobile Money: Anglocentric coverage in today's FT. "For prospective employees mobile banking could prove one bright spot for pay and prospects in the sector," says one story. "Retail banks are expecting mobile banking to be the area where the most roles will be created this year, ahead of branch and internet banking." Another article looks at the competitive threat to incumbent U.K. financial institutions from nonbanks selling phone apps, prepaid debit cards, etc. "Banks will have a hard time coming down and playing in this space because of their regulators," a payments industry lawyer tells the FT. Sound familiar?"
4 tips for finding the best mobile banking
"Mobile banking use is exploding, and banks are quickly adding new services. Last year, 10 million more people signed up for mobile banking, according to Javelin Strategy & Research in Pleasanton, Calif., driven by soaring smartphone and tablet use. And, one-third of the U.S. population is now tapping into mobile banking, versus one-fifth in 2010. But mobile services vary widely. Here's the mobile banking landscape you're likely to encounter and how to choose the best bank and apps for you. Big banks such as JPMorgan Chase & Co., Bank of America and Citi have led the charge, offering the most robust mobile banking technology, says Mary Monahan, Javelin's research director of mobile. And they consistently head the class in mobile banking service quality rankings, though regional banks are also quickly adding mobile services."
CO-OP Introduces Mobile App for iPad
"Credit union clients of CO-OP Financial Services are now able to offer their members a mobile banking app for the iPad tablet. The new app will let members account balances and cash flow charts that summarize debit and credit activity; account history; transfers; and GPS-enabled access to CO-OP Network ATM or CO-OP Shared Branching locations, the payment CUSO said. In addition, the app enables each credit union to customize with member access to their own hosted web pages for loan/account opening services, rates and promotions; or social media sites such as Twitter, Facebook, LinkedIn and YouTube."
Regions online banking goes down due to "network issue"
"Many Regions Bank customers were without online banking access Monday after what the company calls an 'intermittent network issue.' The bank said in a statement on their Facebook Monday they are experiencing a network issue which is impacting some customer's ability to access their website. Those wishing to access the company's website, Regions.com, were taken to a Network Solutions backorder domain website. 'I've been trying to log on off and on since this morning and it is a different page and says the domain no longer exists. I didn't type any info in because I was afraid I'd be hacked,' says Leanne Eldridge."
Wells Fargo's Big Idea: Shrinking Branch Office
"Can neighborhood bank branch offices works smarter, and not harder? Oh, and can they work smaller, too? Wells Fargo (WFC) aims to find out starting this month. The San Francisco banking giant opened a branch Monday in Washington, D.C., that is one-third the size of the usual and comes well-stocked with such features as mobile banking, new ATMs and image-based bank deposits."
Sunday, March 24, 2013
Mobile Banking Updates - Mar 24
Mobile Banking Innovations
"In 2006 Muhammad Yunus received the Nobel Peace Prize for his achievement with Grameen Bank. It gives microcredits to people too poor to qualify for traditional bank loans and the bank made a signficant profit with this business model. If the Nobel Committee was composed of international CEOs you can be sure Mr. Yunus would probably have received the Nobel Prize for Economics as well. He was able to create business opportunity where it was mostly overlooked or deemed impossible. He did that by offering new services and out-of-the-box thinking."
Loyalty To Mobile Banking Kept Some From Switching To CUs
"Credit unions could have gained even more members than the 2.2 million members they added in the weeks surrounding Bank Transfer Day, if they had made it easier for consumers to transfer their mobile accounts, according to Jim Van Dyke , CEO of Javelin Strategy & Research."
City National Bank aims mobile banking suite at small and mid-sized businesses
"Banks big and small are scrambling to "mobilize" their offerings, including those aimed at business clients. Today, City National Bank, a financial institution with $28.6 billion in assets, announced that it's offering a new online and mobile business banking solution called Book2Bank. The new suite of services includes connections to accounting software such as QuickBooks, as well as the ability to automate payment activities."
Infographic: What’s Really Going On in Mobile Banking
"By 2017, an estimated one billion people will use mobile banking. Even today, mobile banking has become an accepted – if not routine – part of daily life. But according to the data presented in a new infographic from FICO, there’s often a gap between what mobile services customers want and what their banks offer."
Check depositing via mobile banking reaches $40B threshold
"According to findings from mobile document capture software firm Mitek, Americans 'are increasingly comfortable with depositing money into their accounts simply by taking a photo of a check.' Sure, this survey came from a vendor who found that people just love what they do, but there is some interesting data nonetheless. The findings state that more than 12 million have deposited funds via check capture software. So far, this translates into more than $40 billion into accounts."
Future of Mobile Banking: Fewer Banks, More Apps
"Mobile banking is increasingly popular, according to a report from consulting firm Bain & Company, offering banks a chance to cut costs but also increase customer loyalty. The December 2012 report from Bain found that 20 percent of mobile users in the U.S. had accessed a mobile banking app in the past 12 months, with 64 percent performing a simple balance inquiry. Forty-one percent used a remote deposit capture system on their phone, while 26 percent paid bills with a mobile device."
"In 2006 Muhammad Yunus received the Nobel Peace Prize for his achievement with Grameen Bank. It gives microcredits to people too poor to qualify for traditional bank loans and the bank made a signficant profit with this business model. If the Nobel Committee was composed of international CEOs you can be sure Mr. Yunus would probably have received the Nobel Prize for Economics as well. He was able to create business opportunity where it was mostly overlooked or deemed impossible. He did that by offering new services and out-of-the-box thinking."
Loyalty To Mobile Banking Kept Some From Switching To CUs
"Credit unions could have gained even more members than the 2.2 million members they added in the weeks surrounding Bank Transfer Day, if they had made it easier for consumers to transfer their mobile accounts, according to Jim Van Dyke , CEO of Javelin Strategy & Research."
City National Bank aims mobile banking suite at small and mid-sized businesses
"Banks big and small are scrambling to "mobilize" their offerings, including those aimed at business clients. Today, City National Bank, a financial institution with $28.6 billion in assets, announced that it's offering a new online and mobile business banking solution called Book2Bank. The new suite of services includes connections to accounting software such as QuickBooks, as well as the ability to automate payment activities."
Infographic: What’s Really Going On in Mobile Banking
"By 2017, an estimated one billion people will use mobile banking. Even today, mobile banking has become an accepted – if not routine – part of daily life. But according to the data presented in a new infographic from FICO, there’s often a gap between what mobile services customers want and what their banks offer."
Check depositing via mobile banking reaches $40B threshold
"According to findings from mobile document capture software firm Mitek, Americans 'are increasingly comfortable with depositing money into their accounts simply by taking a photo of a check.' Sure, this survey came from a vendor who found that people just love what they do, but there is some interesting data nonetheless. The findings state that more than 12 million have deposited funds via check capture software. So far, this translates into more than $40 billion into accounts."
Future of Mobile Banking: Fewer Banks, More Apps
"Mobile banking is increasingly popular, according to a report from consulting firm Bain & Company, offering banks a chance to cut costs but also increase customer loyalty. The December 2012 report from Bain found that 20 percent of mobile users in the U.S. had accessed a mobile banking app in the past 12 months, with 64 percent performing a simple balance inquiry. Forty-one percent used a remote deposit capture system on their phone, while 26 percent paid bills with a mobile device."
Sunday, February 24, 2013
Mobile Banking Updates - Feb 24
Imaging Brings Coveted Ease of Use to Mobile Banking: Study
"A re-evaluation of mobile banking services is going on at many banks, and much of it revolves around the use of imaging to deposit checks, pay bills and make credit card payments. 'Mobile banking is driving a difference in consumer behavior,' says Mary Monahan, executive vice president and research director, mobile, at Javelin Strategy & Research."
CUs' Mobile Banking Enters Second Generation: Special Report
"Mobile banking is here to stay at credit unions. Today, about one-third of all credit unions offer mobile banking. The rest are likely to roll it out within the next 48 months. By comparison, online banking took about twice as long to reach similar numbers. So says Robb Gaynor, chief product officer of Malauzai Software Inc., a provider of mobile banking applications for community financial institutions, including credit unions, for News Now's special report."
Mobile Banking: The Future of Finances
"Mobile banking gives you instant access to the financial information and services that you need on a daily basis. More secure than online banking, mobile banking allows you to bring your credit union with you. To learn more about the features, check out this infographic from GCS Credit Union."
Are Mobile Banking Apps Safe?
"Mobile banking apps are architected to be secure and transactions are channeled through encrypted tunnels, but these measures are not enough to safeguard users if the mobile operating system is inherently vulnerable or if the handset is already compromised by malware. The risks related to the mobile operating system's vulnerabilities and the wireless network can provide a way in for attackers to either intercept or spy on the user's banking transactions. These risks are increased when users jailbreak their devices, regardless if it is Apple's iOS or Google's Android powering the handset."
"A re-evaluation of mobile banking services is going on at many banks, and much of it revolves around the use of imaging to deposit checks, pay bills and make credit card payments. 'Mobile banking is driving a difference in consumer behavior,' says Mary Monahan, executive vice president and research director, mobile, at Javelin Strategy & Research."
CUs' Mobile Banking Enters Second Generation: Special Report
"Mobile banking is here to stay at credit unions. Today, about one-third of all credit unions offer mobile banking. The rest are likely to roll it out within the next 48 months. By comparison, online banking took about twice as long to reach similar numbers. So says Robb Gaynor, chief product officer of Malauzai Software Inc., a provider of mobile banking applications for community financial institutions, including credit unions, for News Now's special report."
Mobile Banking: The Future of Finances
"Mobile banking gives you instant access to the financial information and services that you need on a daily basis. More secure than online banking, mobile banking allows you to bring your credit union with you. To learn more about the features, check out this infographic from GCS Credit Union."
Are Mobile Banking Apps Safe?
"Mobile banking apps are architected to be secure and transactions are channeled through encrypted tunnels, but these measures are not enough to safeguard users if the mobile operating system is inherently vulnerable or if the handset is already compromised by malware. The risks related to the mobile operating system's vulnerabilities and the wireless network can provide a way in for attackers to either intercept or spy on the user's banking transactions. These risks are increased when users jailbreak their devices, regardless if it is Apple's iOS or Google's Android powering the handset."
Wednesday, December 19, 2012
Mobile Banking Updates - Dec 19
Bank of America's Plan to Drive Mobile Banking Beyond 12 Million Users
"Twelve million mobile banking customers may sound like a satisfactory number, but Bank of America wants more. As part of a drive to sign up more people for mobile banking, the bank is outfitting its teller stations with quick response (QR) codes that can be scanned by mobile devices to download the mobile app. David Godsman, senior vice president of online and mobile solutions, says the teller station registration is part of a multi-pronged campaign to grow mobile banking. The bank's current 12 million mobile subscribers are a fraction of its 58 million total consumer and business customers."
2012 Hispanic Mobile Banking Infographic
"The growth of mobile device technology and its usage throughout the day changes the way marketing is done. ThinkNow Research and Zpryme Hispanic Insights have collaborated to create an infographic that shows statistical trends in Hispanic mobile banking usage. Although financial institutions aggressively promote their mobile websites and applications to consumers through TV commercials and online app stores, this study shows the main reason Latinos don't use mobile banking is because they are concerned about security (44%)."
Mobile check deposits latest in mobile banking technology
"A result of growing customer demand for more technology-focused banking convenience, mobile check deposits are now available as part of the Arvest Mobile Banking application for iPhone® and Android™. This is among the most sought-after services by today’s banking consumer and is changing the way deposits are made. Mobile check deposits allow consumers to use their smartphones camera capability to take photos of a check and deposit it remotely, anytime, from almost anywhere, without ever setting foot in their bank."
Credit Unions Outperforming Community Banks in Mobile: Report
"Credit unions are outperforming community banks in mobile banking, according to new research from Pleasanton, Calif.-based Javelin Strategy & Research. Javelin examined the top ten community banks and top ten credit unions, by deposit size, and found that nine out of the ten credit unions offered web-based mobile banking, while three out of the ten community banks reviewed do not offer a single form of mobile banking."
"Twelve million mobile banking customers may sound like a satisfactory number, but Bank of America wants more. As part of a drive to sign up more people for mobile banking, the bank is outfitting its teller stations with quick response (QR) codes that can be scanned by mobile devices to download the mobile app. David Godsman, senior vice president of online and mobile solutions, says the teller station registration is part of a multi-pronged campaign to grow mobile banking. The bank's current 12 million mobile subscribers are a fraction of its 58 million total consumer and business customers."
2012 Hispanic Mobile Banking Infographic
"The growth of mobile device technology and its usage throughout the day changes the way marketing is done. ThinkNow Research and Zpryme Hispanic Insights have collaborated to create an infographic that shows statistical trends in Hispanic mobile banking usage. Although financial institutions aggressively promote their mobile websites and applications to consumers through TV commercials and online app stores, this study shows the main reason Latinos don't use mobile banking is because they are concerned about security (44%)."
Mobile check deposits latest in mobile banking technology
"A result of growing customer demand for more technology-focused banking convenience, mobile check deposits are now available as part of the Arvest Mobile Banking application for iPhone® and Android™. This is among the most sought-after services by today’s banking consumer and is changing the way deposits are made. Mobile check deposits allow consumers to use their smartphones camera capability to take photos of a check and deposit it remotely, anytime, from almost anywhere, without ever setting foot in their bank."
Credit Unions Outperforming Community Banks in Mobile: Report
"Credit unions are outperforming community banks in mobile banking, according to new research from Pleasanton, Calif.-based Javelin Strategy & Research. Javelin examined the top ten community banks and top ten credit unions, by deposit size, and found that nine out of the ten credit unions offered web-based mobile banking, while three out of the ten community banks reviewed do not offer a single form of mobile banking."
Sunday, December 9, 2012
Mobile Banking Updates - Dec 9
Mobile Banking's Legal Dark Side
"Heard of Maxim Inc.? If you're a bank interested in developing mobile payments innovation, you should have, because the company claims it invented key technology that entitles it to a piece of the mobile payments pie."
Citizens Bank Mobile Banking Apps For iPhone®, Android™ Receive #1 Ranking For Customer Satisfaction
"Citizens Bank’s Mobile Banking apps for iPhone and Android have been named the “best integrated apps” in the industry by Javelin Strategy & Research following its review of customer ratings in the Apple App Store and in Google Play. Citizens Bank’s average customer rating of 4.25 out of 5 stars was the best in the industry, tied only by USAA, Javelin reported this week."
U.S. Payments Market: Mobile & Alternative Payments Analysis with A Business Case for Mobile Banking
"RnRMarketResearch.com adds "Mobile and Alternative Payments in the U.S., 3rd Edition" , "The Business Case for Mobile Banking" , "Mobile Banking and Payments" and "Alternative Payment Channels" reports to its store. With mobile taking over daily, dedicated personal space and time of people, banking and financial industry has the most exciting and equally challenging task on hand of offering mobile payments and mobile banking services with all security and personal touch of the non-mobile payments and banking experience to the end users."
Bank of America CEO's Desperate Mobile Banking Pitch
"Is Bank of America (BAC_) CEO Brian Moynihan really excited about mobile banking--or is that just the best he can do to try and change the conversation from lawsuits, fees and regulations? Inevitably, Moynihan was asked about fees during an appearance on CNBC Tuesday. The Wall Street Journal had reported on its front page Sunday that the bank was backing away from fees in a bid to get customers to hate the bank a bit less."
Research and Markets: Mobile Banking Gains 10 Million Users As Smartphone And Tablet Adoption Soars
"The ability to securely manage banking transactions, especially on smartphones and tablets, has become extremely appealing. Mobile banking gained 10 million new users in 2012 and currently reaches one-third of the mobile adult U.S. population. As smartphones outnumber feature phones and tablets surge, Android and Apple delivered and defined the market in 2012. Consumer adoption of mobile banking at small, medium, and giant institutions and credit unions varies by the quality of mobile services offered. This report contains an annual roundup of five-year forecasts for the U.S. consumer market for mobile banking adoption, mobile phone usage, smartphone adoption, smartphone adoption by operating system, tablet adoption, and tablet adoption by operating system."
For These 4 Banks, the Future Is Now
"For banks looking for innovative ways to serve customers without incurring costs to themselves, mobile banking is the perfect area in which to grow. Overall, banks have been somewhat slow to develop and promote these services. Here are four that are actively pushing mobile offerings, placing them ahead of their more sluggish competitors."
U.S. Bank Partners with Mitek for Mobile Photo Bill Pay; Will Launch to Consumers in Early 2013
"U.S. Bank, fifth-largest bank in the United States and lead bank of U.S. Bancorp (NYS: USB) , and Mitek Systems (NAS: MITK) , a leading mobile imaging software solutions provider and the pioneer of Mobile Deposit® technology, have entered into a strategic mobile technology partnership to offer Mitek's Mobile Photo Bill Pay™ product to U.S. Bank customers."
Javelin Research: It’s a Mobile World
"The newly issued 2012 Mobile Banking Financial Institution Scorecard: from Javelin Strategy & Research hammers home one point, loudly: Financial services have become a mobile world. Mobile banking now is used by 33% of mobile consumers, per Javelin, a jump from the 24% who used it in 2011. Of the top 25 financial institutions in the U.S., half now offer mobile person-to-person payments as well as mobile remote deposit capture, numbers that have “more than doubled” since the 2011 report."
"Heard of Maxim Inc.? If you're a bank interested in developing mobile payments innovation, you should have, because the company claims it invented key technology that entitles it to a piece of the mobile payments pie."
Citizens Bank Mobile Banking Apps For iPhone®, Android™ Receive #1 Ranking For Customer Satisfaction
"Citizens Bank’s Mobile Banking apps for iPhone and Android have been named the “best integrated apps” in the industry by Javelin Strategy & Research following its review of customer ratings in the Apple App Store and in Google Play. Citizens Bank’s average customer rating of 4.25 out of 5 stars was the best in the industry, tied only by USAA, Javelin reported this week."
U.S. Payments Market: Mobile & Alternative Payments Analysis with A Business Case for Mobile Banking
"RnRMarketResearch.com adds "Mobile and Alternative Payments in the U.S., 3rd Edition" , "The Business Case for Mobile Banking" , "Mobile Banking and Payments" and "Alternative Payment Channels" reports to its store. With mobile taking over daily, dedicated personal space and time of people, banking and financial industry has the most exciting and equally challenging task on hand of offering mobile payments and mobile banking services with all security and personal touch of the non-mobile payments and banking experience to the end users."
Bank of America CEO's Desperate Mobile Banking Pitch
"Is Bank of America (BAC_) CEO Brian Moynihan really excited about mobile banking--or is that just the best he can do to try and change the conversation from lawsuits, fees and regulations? Inevitably, Moynihan was asked about fees during an appearance on CNBC Tuesday. The Wall Street Journal had reported on its front page Sunday that the bank was backing away from fees in a bid to get customers to hate the bank a bit less."
Research and Markets: Mobile Banking Gains 10 Million Users As Smartphone And Tablet Adoption Soars
"The ability to securely manage banking transactions, especially on smartphones and tablets, has become extremely appealing. Mobile banking gained 10 million new users in 2012 and currently reaches one-third of the mobile adult U.S. population. As smartphones outnumber feature phones and tablets surge, Android and Apple delivered and defined the market in 2012. Consumer adoption of mobile banking at small, medium, and giant institutions and credit unions varies by the quality of mobile services offered. This report contains an annual roundup of five-year forecasts for the U.S. consumer market for mobile banking adoption, mobile phone usage, smartphone adoption, smartphone adoption by operating system, tablet adoption, and tablet adoption by operating system."
For These 4 Banks, the Future Is Now
"For banks looking for innovative ways to serve customers without incurring costs to themselves, mobile banking is the perfect area in which to grow. Overall, banks have been somewhat slow to develop and promote these services. Here are four that are actively pushing mobile offerings, placing them ahead of their more sluggish competitors."
U.S. Bank Partners with Mitek for Mobile Photo Bill Pay; Will Launch to Consumers in Early 2013
"U.S. Bank, fifth-largest bank in the United States and lead bank of U.S. Bancorp (NYS: USB) , and Mitek Systems (NAS: MITK) , a leading mobile imaging software solutions provider and the pioneer of Mobile Deposit® technology, have entered into a strategic mobile technology partnership to offer Mitek's Mobile Photo Bill Pay™ product to U.S. Bank customers."
Javelin Research: It’s a Mobile World
"The newly issued 2012 Mobile Banking Financial Institution Scorecard: from Javelin Strategy & Research hammers home one point, loudly: Financial services have become a mobile world. Mobile banking now is used by 33% of mobile consumers, per Javelin, a jump from the 24% who used it in 2011. Of the top 25 financial institutions in the U.S., half now offer mobile person-to-person payments as well as mobile remote deposit capture, numbers that have “more than doubled” since the 2011 report."
Sunday, December 2, 2012
Mobile Banking Updates - Dec 2
Banks Cling to iPhone as Consumers Take to Android
"Steve Jobs would be pleased. The thing that strikes you most when looking at Javelin's latest research on mobile banking and talking to its author, Mary Monahan, is the devotion banks still have to Apple's iPhone, even as Android devices lead in consumer market share, as they did last year. According to Javelin Strategy & Research's latest consumer survey (the group polled 3,000 consumers this quarter), Google's Android smartphones and tablets now claim 48% of the U.S mobile market, up from 34% last year. Apple's mobile device market share is 32% this year, up from 27% last year. (RIM dropped from 25% last year to 12% this year; Windows Mobile dropped from 13% to 8%.)"
Wells Fargo Expands Mobile Deposit Service Nationwide, Increasing Anytime, Anywhere Banking Convenience for Customers
"In a move to deliver innovation and added convenience in the rapidly growing mobile banking space, Wells Fargo & Company (NYSE:WFC) today announced the nationwide expansion of Wells Fargo Mobile® Deposit. Using an Android or iPhone device, customers across the nation can easily deposit checks into their eligible Wells Fargo accounts by taking pictures of the front and back of the check."
Spike Mobile Deposit Adoption Rates With Free $5 Demo Checks
"Old habits die hard. If you want people to try a new technology like mobile remote deposits, it may take cash bribes. Numerica Credit Union paid members $5 each to do just that. To teach people how easy it is to deposit checks using a smart phone, the credit union gave $5 checks away to those participating in live demonstrations."
How often do US expats use their mobile or smartphone for mobile banking?
"The world of the Internet and the world of mobile/smartphones are intrinsically linked and when you bear in mind the number of people who have access to a mobile phone on a constant basis this is perhaps the most powerful communication tool we have ever seen. As a consequence, many of the everyday services which are used to have now been transferred to the mobile Internet arena but is mobile banking as easy to transfer as general Internet use?"
"Steve Jobs would be pleased. The thing that strikes you most when looking at Javelin's latest research on mobile banking and talking to its author, Mary Monahan, is the devotion banks still have to Apple's iPhone, even as Android devices lead in consumer market share, as they did last year. According to Javelin Strategy & Research's latest consumer survey (the group polled 3,000 consumers this quarter), Google's Android smartphones and tablets now claim 48% of the U.S mobile market, up from 34% last year. Apple's mobile device market share is 32% this year, up from 27% last year. (RIM dropped from 25% last year to 12% this year; Windows Mobile dropped from 13% to 8%.)"
Wells Fargo Expands Mobile Deposit Service Nationwide, Increasing Anytime, Anywhere Banking Convenience for Customers
"In a move to deliver innovation and added convenience in the rapidly growing mobile banking space, Wells Fargo & Company (NYSE:WFC) today announced the nationwide expansion of Wells Fargo Mobile® Deposit. Using an Android or iPhone device, customers across the nation can easily deposit checks into their eligible Wells Fargo accounts by taking pictures of the front and back of the check."
Spike Mobile Deposit Adoption Rates With Free $5 Demo Checks
"Old habits die hard. If you want people to try a new technology like mobile remote deposits, it may take cash bribes. Numerica Credit Union paid members $5 each to do just that. To teach people how easy it is to deposit checks using a smart phone, the credit union gave $5 checks away to those participating in live demonstrations."
How often do US expats use their mobile or smartphone for mobile banking?
"The world of the Internet and the world of mobile/smartphones are intrinsically linked and when you bear in mind the number of people who have access to a mobile phone on a constant basis this is perhaps the most powerful communication tool we have ever seen. As a consequence, many of the everyday services which are used to have now been transferred to the mobile Internet arena but is mobile banking as easy to transfer as general Internet use?"
Tuesday, November 20, 2012
Mobile Banking Security - Nov 20
Smart Phone Malware Risk Rises
"Mobile malware is exploding at a time when financial institutions are increasing their mobile banking offerings and consumers are making broader use of smart phones and tablets. A recent study from software and security firm Trend Micro finds that mobile malware attacks hit record numbers in the third quarter, with Android devices as the primary targets."
The Dangers of Mobile Banking
"Advertising for mobile banking has become as popular as traditional banking commercials. Customers like local makeup artist Alisha Cooper are increasingly going mobile these days and for good reasons. 'I travel as a licensed makeup artist and so I do work in North Carolina sometimes in Arizona, Atlanta different places, so for me not carrying a machine, I have to have my cell phone,' says Cooper."
BBB's 6 Tips For Safe Mobile Banking
"Banks have been promoting the use of mobile phones and other devices for banking for several years now, but what happens if you lose your phone? Can a thief empty your bank account by tapping a smartphone against yours? With mobile banking one of the fastest-growing trends in the financial sector, the Better Business Bureau (BBB) advises consumers to take precautions to keep their money safe, including installing antivirus software on phones. Users should take many of the same precautions they would when banking online with a personal computer."
Mobile Security Revenue for Banks?
"Increased interest in mobile wallets and growing smart phone use are paving the way for more mobile payments, and now is the time for banking institutions to identify what role they'll play in this emerging space. Javelin analyst Alphonse Pascual, who focuses on financial fraud and security, says institutions can't ignore mobile payments, despite the somewhat peripheral role they play. Banks and credit unions that sit by the sidelines will miss out on revenue-generating opportunities, he says."
How Secure Is Mobile Banking?
"Whether you’re paying for that latte with Google Wallet or simply checking your balances, mobile banking is the wave of the future. And with an estimated 30 million people using some form of mobile banking, it’s very much the present, too. With advantages like being able to check balances, depositing checks via text message, monitoring investments, paying for goods and much more — all whenever you like, wherever you are and on a diversity of platforms — this shouldn’t really come as a surprise."
"Mobile malware is exploding at a time when financial institutions are increasing their mobile banking offerings and consumers are making broader use of smart phones and tablets. A recent study from software and security firm Trend Micro finds that mobile malware attacks hit record numbers in the third quarter, with Android devices as the primary targets."
The Dangers of Mobile Banking
"Advertising for mobile banking has become as popular as traditional banking commercials. Customers like local makeup artist Alisha Cooper are increasingly going mobile these days and for good reasons. 'I travel as a licensed makeup artist and so I do work in North Carolina sometimes in Arizona, Atlanta different places, so for me not carrying a machine, I have to have my cell phone,' says Cooper."
BBB's 6 Tips For Safe Mobile Banking
"Banks have been promoting the use of mobile phones and other devices for banking for several years now, but what happens if you lose your phone? Can a thief empty your bank account by tapping a smartphone against yours? With mobile banking one of the fastest-growing trends in the financial sector, the Better Business Bureau (BBB) advises consumers to take precautions to keep their money safe, including installing antivirus software on phones. Users should take many of the same precautions they would when banking online with a personal computer."
Mobile Security Revenue for Banks?
"Increased interest in mobile wallets and growing smart phone use are paving the way for more mobile payments, and now is the time for banking institutions to identify what role they'll play in this emerging space. Javelin analyst Alphonse Pascual, who focuses on financial fraud and security, says institutions can't ignore mobile payments, despite the somewhat peripheral role they play. Banks and credit unions that sit by the sidelines will miss out on revenue-generating opportunities, he says."
How Secure Is Mobile Banking?
"Whether you’re paying for that latte with Google Wallet or simply checking your balances, mobile banking is the wave of the future. And with an estimated 30 million people using some form of mobile banking, it’s very much the present, too. With advantages like being able to check balances, depositing checks via text message, monitoring investments, paying for goods and much more — all whenever you like, wherever you are and on a diversity of platforms — this shouldn’t really come as a surprise."
Sunday, June 24, 2012
Mobile Banking Updates - Jun 24
Bank of America fights to keep top spot in mobile banking
"Bank of America Corp.’s Aditya Bhasin has 10 million reasons to celebrate the Charlotte-based company’s leading position in mobile banking. But industry analysts say the online- and mobile-banking exec also has a growing number of reasons to watch his back. That’s because an arms race is under way in mobile banking."
Mobile Banking Spend on the Rise
"Retail banks are planning to invest heavily in mobile due to increasing customer demand, according to a new report from Cambridge, Mass.-based Forrester Research. Forrester surveyed members of the Consumer Bankers Association (CBA), who reported that they will spend one-third of their total digital budget on the mobile channel this year. The joint research project with the CBA's emerging channels committee surveyed digital executives at 19 leading U.S. and Canadian banks. The findings were summarized in a two-part report, "The State Of North American Retail Banking eBusiness 2012."
Small Business and Mobile Banking: A Growing Imperative?
"Aite Group said its research finds that increasing their business with small businesses is critical to their overall success, in the opinion of 80% of American banks. Reaching a lot of them also will require including mobile banking as offerings to small and medium enterprises, the Boston-based think firm said in a new report. While not yet the preferred banking channel, Aite Group said, its research shows that currently 33% of small businesses currently bank with a mobile device. Another 31% express an interest in doing so, the research and advisory firm said, and 54% will by 2015."
Citi Adds Trade Services to Corporate Mobile Banking
"Trade Advisor is an online banking tool that lets companies conduct crossborder trade transactions, including updates on letters of credit, trade finance loans and documentary collection for import and export. CitiDirect BE Mobile, launched in August as part of Citi's Global Transaction Services, lets corporate treasurers receive alerts and authorize payments pending approvals, release payments for straight-through processing, and check balances and payment statuses, among other things."
Banks layer up on security to protect customers
"What are the odds that the head of a company that tracks financial fraud would have his own bank account breached? James Van Dyke, president of Javelin, certainly found it ironic when Wells Fargo alerted him to a fraudulent transaction six months ago. He was also glad he had signed up for a service that notifies him every time there’s a credit card transaction that occurs in his California business’s name."
Should you fear mobile banking on your cell phone?
"Do you like the ease of banking over the phone? Or do you fear something happening to your personal information? ABC 4 got the results of a recent experiment involving smart phones, and what happens when they are lost, then found by a stranger. But what can you do to protect yourself if you loose your phone? It’s happened to April Tucker a lot."
"Bank of America Corp.’s Aditya Bhasin has 10 million reasons to celebrate the Charlotte-based company’s leading position in mobile banking. But industry analysts say the online- and mobile-banking exec also has a growing number of reasons to watch his back. That’s because an arms race is under way in mobile banking."
Mobile Banking Spend on the Rise
"Retail banks are planning to invest heavily in mobile due to increasing customer demand, according to a new report from Cambridge, Mass.-based Forrester Research. Forrester surveyed members of the Consumer Bankers Association (CBA), who reported that they will spend one-third of their total digital budget on the mobile channel this year. The joint research project with the CBA's emerging channels committee surveyed digital executives at 19 leading U.S. and Canadian banks. The findings were summarized in a two-part report, "The State Of North American Retail Banking eBusiness 2012."
Small Business and Mobile Banking: A Growing Imperative?
"Aite Group said its research finds that increasing their business with small businesses is critical to their overall success, in the opinion of 80% of American banks. Reaching a lot of them also will require including mobile banking as offerings to small and medium enterprises, the Boston-based think firm said in a new report. While not yet the preferred banking channel, Aite Group said, its research shows that currently 33% of small businesses currently bank with a mobile device. Another 31% express an interest in doing so, the research and advisory firm said, and 54% will by 2015."
Citi Adds Trade Services to Corporate Mobile Banking
"Trade Advisor is an online banking tool that lets companies conduct crossborder trade transactions, including updates on letters of credit, trade finance loans and documentary collection for import and export. CitiDirect BE Mobile, launched in August as part of Citi's Global Transaction Services, lets corporate treasurers receive alerts and authorize payments pending approvals, release payments for straight-through processing, and check balances and payment statuses, among other things."
Banks layer up on security to protect customers
"What are the odds that the head of a company that tracks financial fraud would have his own bank account breached? James Van Dyke, president of Javelin, certainly found it ironic when Wells Fargo alerted him to a fraudulent transaction six months ago. He was also glad he had signed up for a service that notifies him every time there’s a credit card transaction that occurs in his California business’s name."
Should you fear mobile banking on your cell phone?
"Do you like the ease of banking over the phone? Or do you fear something happening to your personal information? ABC 4 got the results of a recent experiment involving smart phones, and what happens when they are lost, then found by a stranger. But what can you do to protect yourself if you loose your phone? It’s happened to April Tucker a lot."
Tuesday, June 19, 2012
Mobile Banking Security - Jun 19
Mobile Banking: Predicting the Risks
"Mobile security threats can be managed through testing and strategic risk-mitigation strategies, says Keith Gordon, who oversees authentication and security strategies for Bank of America's consumer online and mobile banking units. A mobile banking pioneer, Bank of America has come up with some innovative ways to anticipate mobile threats. This top-tier bank has seen its mobile-user base explode, increasing by nearly 3 million users in the last 12 months. It now has more than 10 million mobile users."
60% of Americans who don't use mobile banking 'think their mobile isn't secure'
"Mobile banking is very popular in America. Research by Infosys indicates that 94% of Americans use some kind of banking app on a mobile device. However, just about half of them think mobile banking has security problems, according to simplysecurity.com. Sandra Braunstein, the director of the Division of Consumer Community Affairs spoke before the Committee on Banking, Housing, and Urban Affairs - and noted that a high number of Americans who aren't embracing mobile banking technology are choosing not to because of perceived security risks."
5 Top Malware Threats to Online and Mobile Banking
"Hundreds of millions of dollars have been stolen by cyber-criminals from bank and credit union accounts. That is the reality and what it means to credit union executives is that the need for vigilance around online and mobile banking is severe. But then there are the flat-out empty scares that so often percolate in this field. Last week for instance security experts were aflutter over a threat named Flame which, in initial reports, was said to be Stuxnet doubled down. That would be very, very bad indeed because Stuxnet may have the capabilities to cripple nation states. But then on second look, the experts seemed to dismiss Flame as more hype than danger. Which is it? Too early to say."
Mobile Users Want More Security Control
"Consumers are ready to assume more responsibility for the security of their mobile devices, especially when it comes to mobile banking. According to research conducted by Javelin Strategy & Research, consumers want to have the ability to act and respond when they suspect they've been hit by a mobile attack that results in fraud. So what's holding them back? Jim Van Dyke, Javelin's president and founder, says banking institutions are the problem. They've been reluctant to release too much control, he says in an interview with BankInfoSecurity's Tracy Kitten (transcript below)."
Gemalto Discusses Fraud Mitigation at Annual FUNDtech Insights Conference
"Gemalto, the world leader in digital security, will speak and exhibit this week at the FUNDtech Insights Conference 2012 presented by FUNDtech and BankServe. The conference hosts two days of educational sessions, product demonstrations and expert presentations on the financial services industry."
"Mobile security threats can be managed through testing and strategic risk-mitigation strategies, says Keith Gordon, who oversees authentication and security strategies for Bank of America's consumer online and mobile banking units. A mobile banking pioneer, Bank of America has come up with some innovative ways to anticipate mobile threats. This top-tier bank has seen its mobile-user base explode, increasing by nearly 3 million users in the last 12 months. It now has more than 10 million mobile users."
60% of Americans who don't use mobile banking 'think their mobile isn't secure'
"Mobile banking is very popular in America. Research by Infosys indicates that 94% of Americans use some kind of banking app on a mobile device. However, just about half of them think mobile banking has security problems, according to simplysecurity.com. Sandra Braunstein, the director of the Division of Consumer Community Affairs spoke before the Committee on Banking, Housing, and Urban Affairs - and noted that a high number of Americans who aren't embracing mobile banking technology are choosing not to because of perceived security risks."
5 Top Malware Threats to Online and Mobile Banking
"Hundreds of millions of dollars have been stolen by cyber-criminals from bank and credit union accounts. That is the reality and what it means to credit union executives is that the need for vigilance around online and mobile banking is severe. But then there are the flat-out empty scares that so often percolate in this field. Last week for instance security experts were aflutter over a threat named Flame which, in initial reports, was said to be Stuxnet doubled down. That would be very, very bad indeed because Stuxnet may have the capabilities to cripple nation states. But then on second look, the experts seemed to dismiss Flame as more hype than danger. Which is it? Too early to say."
Mobile Users Want More Security Control
"Consumers are ready to assume more responsibility for the security of their mobile devices, especially when it comes to mobile banking. According to research conducted by Javelin Strategy & Research, consumers want to have the ability to act and respond when they suspect they've been hit by a mobile attack that results in fraud. So what's holding them back? Jim Van Dyke, Javelin's president and founder, says banking institutions are the problem. They've been reluctant to release too much control, he says in an interview with BankInfoSecurity's Tracy Kitten (transcript below)."
Gemalto Discusses Fraud Mitigation at Annual FUNDtech Insights Conference
"Gemalto, the world leader in digital security, will speak and exhibit this week at the FUNDtech Insights Conference 2012 presented by FUNDtech and BankServe. The conference hosts two days of educational sessions, product demonstrations and expert presentations on the financial services industry."
Wednesday, March 7, 2012
Mobile Banking Security - Mar 7
Mobile Banking ID Theft Risks Become Clear
"Younger customers, who are more confident about posting personal details and among the heaviest smartphone users, are particularly at risk. But while the incidence of identity theft is increasing, cost to consumers has stayed about steady, according to Javelin Strategy & Research's 2012 identity fraud report. 'We know the risks are still prevalent, but when you look at improved response time and reduced cost for consumers, as well as increased consumer awareness, the banks … have done a good job with education,' says Robert Dudacek, senior vice president for Wells Fargo & Co. insurance."
Be savvy about mobile banking safety
"As consumers become more comfortable with mobile payment technology, they also need to become more concerned about the security of their transactions. 'Security of your transactions is one of the biggest issues, especially with mobile payments,' said Jerry O’Flanagan, chief credit officer for First National Bank of Omaha."
"Younger customers, who are more confident about posting personal details and among the heaviest smartphone users, are particularly at risk. But while the incidence of identity theft is increasing, cost to consumers has stayed about steady, according to Javelin Strategy & Research's 2012 identity fraud report. 'We know the risks are still prevalent, but when you look at improved response time and reduced cost for consumers, as well as increased consumer awareness, the banks … have done a good job with education,' says Robert Dudacek, senior vice president for Wells Fargo & Co. insurance."
Be savvy about mobile banking safety
"As consumers become more comfortable with mobile payment technology, they also need to become more concerned about the security of their transactions. 'Security of your transactions is one of the biggest issues, especially with mobile payments,' said Jerry O’Flanagan, chief credit officer for First National Bank of Omaha."
Thursday, January 5, 2012
Mobile Banking Updates - Jan 5
Web Browser the Most Popular Mobile Banking Channel
"A Javelin report finds that more customers access mobile banking via a mobil browser, though downloadable apps are gaining and considered more secure. The mobile Web browser is the most widely used mobile banking channel and is perceived by consumers to be the most secure, according to Javelin Strategy & Research's Mobile Banking Security report issued this week. The survey evaluated the specific security issues mobile banking customers face when using three mobile banking channels: Web browser, app, and SMS texting."
A turning point in the history of mobile financial services
"With 2011 drawing to a close, it’s clear that the year has seen exciting changes in mobile banking and payments, with innovative advancements to enhance the consumer experience being delivered. In particular, there have been positive developments from UK banks and retailers in the mobile banking space, culminating in the launch of Lloyds TSB’s successful new banking app. Earlier in the year, ING Direct paved the way for banking innovation, with the news that the organisation is offering the use of ‘Bump’ technologies to transfer funds in a simple and convenient manner."
Charles Schwab Expands Mobile Banking and Investing Offerings with New App for the iPad
"Expanding its suite of integrated banking and brokerage mobile services for investors, Charles Schwab today announced that a new Schwab app for the iPad is now available for download. iPad users will now be able to transfer funds between Schwab Bank and brokerage accounts, manage their trades and keep up with market information with automatically updating quotes and the latest financial news through their Schwab app."
UBA reaffirms preparedness to implement CBN’s cashless policy
"With barely five days before the commencement of the Central Bank of Nigeria’s (CBN) ‘Cashless Lagos’ pilot scheme geared towards reducing the cost of managing cash in the economy, United Bank for Africa (UBA) Plc has restated its preparedness to fully implement the policy, claiming that time is long overdue for customers, particularly small depositors, to fully embrace self-service electronic banking services. In July, the bank had adopted critical measures to encourage its customers to embrace electronic channels."
RBI Removes INR 50K Cap on Mobile Banking Transactions
"RBI (Reserve Bank of India) has removed INR 50,000 cap on mobile banking transactions. However, banks may place per transaction limits based on their own risk perception with the approval of its Board.
Mobile banking in India is set to generate fee-based income of Rs 20,250 crore over the next five years, mainly driven by lower transaction cost, favourable regulatory environment. By 2015, $350 billion in payment and banking transactions could flow through mobile phones, compared with about $235 billion of total credit- and debit-card transactions today."
Halifax and RBS launch mobile banking apps
"The two banks are responding to the fast-paced growth of smartphones in the UK, with more than a third of people using a smartphone. The apps will be available across all popular smartphone platforms, including Blackberry, Apple, Android and Nokia. The apps will allow customers to access their any of their accounts with Halifax or RBS, including personal accounts, savings accounts and credit cards."
African Banks Turn to IBM to Support New Wave of Innovation in Banking Services
"Over the last six months IBM has signed contracts with five of Kenya's leading banks: Credit Bank, Co-operative Bank, Family Bank, National Bank of Kenya and National Industrial Credit (NIC) Bank. The agreements are amongst more than 20 similar deals that IBM has signed with banks across Africa in 2011 in line with the rapid growth of the financial services sector and as technology enables a wave of innovation in African banking. IBM is also working with Africa's leading telco companies to help provide financial services based on increasingly widespread mobile devices. For example, through its partnership with Vodafone, IBM is helping Safaricom to provide its M-PESA mobile money service to over 15 million customers in East Africa."
"A Javelin report finds that more customers access mobile banking via a mobil browser, though downloadable apps are gaining and considered more secure. The mobile Web browser is the most widely used mobile banking channel and is perceived by consumers to be the most secure, according to Javelin Strategy & Research's Mobile Banking Security report issued this week. The survey evaluated the specific security issues mobile banking customers face when using three mobile banking channels: Web browser, app, and SMS texting."
A turning point in the history of mobile financial services
"With 2011 drawing to a close, it’s clear that the year has seen exciting changes in mobile banking and payments, with innovative advancements to enhance the consumer experience being delivered. In particular, there have been positive developments from UK banks and retailers in the mobile banking space, culminating in the launch of Lloyds TSB’s successful new banking app. Earlier in the year, ING Direct paved the way for banking innovation, with the news that the organisation is offering the use of ‘Bump’ technologies to transfer funds in a simple and convenient manner."
Charles Schwab Expands Mobile Banking and Investing Offerings with New App for the iPad
"Expanding its suite of integrated banking and brokerage mobile services for investors, Charles Schwab today announced that a new Schwab app for the iPad is now available for download. iPad users will now be able to transfer funds between Schwab Bank and brokerage accounts, manage their trades and keep up with market information with automatically updating quotes and the latest financial news through their Schwab app."
UBA reaffirms preparedness to implement CBN’s cashless policy
"With barely five days before the commencement of the Central Bank of Nigeria’s (CBN) ‘Cashless Lagos’ pilot scheme geared towards reducing the cost of managing cash in the economy, United Bank for Africa (UBA) Plc has restated its preparedness to fully implement the policy, claiming that time is long overdue for customers, particularly small depositors, to fully embrace self-service electronic banking services. In July, the bank had adopted critical measures to encourage its customers to embrace electronic channels."
RBI Removes INR 50K Cap on Mobile Banking Transactions
"RBI (Reserve Bank of India) has removed INR 50,000 cap on mobile banking transactions. However, banks may place per transaction limits based on their own risk perception with the approval of its Board.
Mobile banking in India is set to generate fee-based income of Rs 20,250 crore over the next five years, mainly driven by lower transaction cost, favourable regulatory environment. By 2015, $350 billion in payment and banking transactions could flow through mobile phones, compared with about $235 billion of total credit- and debit-card transactions today."
Halifax and RBS launch mobile banking apps
"The two banks are responding to the fast-paced growth of smartphones in the UK, with more than a third of people using a smartphone. The apps will be available across all popular smartphone platforms, including Blackberry, Apple, Android and Nokia. The apps will allow customers to access their any of their accounts with Halifax or RBS, including personal accounts, savings accounts and credit cards."
African Banks Turn to IBM to Support New Wave of Innovation in Banking Services
"Over the last six months IBM has signed contracts with five of Kenya's leading banks: Credit Bank, Co-operative Bank, Family Bank, National Bank of Kenya and National Industrial Credit (NIC) Bank. The agreements are amongst more than 20 similar deals that IBM has signed with banks across Africa in 2011 in line with the rapid growth of the financial services sector and as technology enables a wave of innovation in African banking. IBM is also working with Africa's leading telco companies to help provide financial services based on increasingly widespread mobile devices. For example, through its partnership with Vodafone, IBM is helping Safaricom to provide its M-PESA mobile money service to over 15 million customers in East Africa."
Monday, January 2, 2012
Mobile Banking Security - Jan 2
McAfee predicts 2012 to see more attacks on mobile banking apps
"Mobile financial services are attracting more and more attention, and not all of it is good. According to technology security company McAfee, more consumers are accessing their financial services via mobile devices and bad guys are looking to exploit that shift.
McAfee Labs released its 2012 Threat Predictions report, and along with apocalyptic-sounding cyberattacks on utilities and infrastructure, attacks on mobile devices, especially attacks targeting mobile banking, are high on the list of threats." Click to view the 2012 Threat Predictions report
Mobile Banking Security
"When is the last time you were inside your bank? It’s probably been awhile. With ATMs and online banking, and mobile banking, there’s rarely ever a need to visit a teller. And with the growing number of banking apps, we can virtually carry our banks in our pockets and purses. But at what cost?"
Mobile Banking: Rewards and Risk
"A recent study looked at the security of four types of mobile applications – financial services, social networking, productivity, and retail. The study focused on the types of sensitive data that mobile applications store on the device and whether these data were stored securely. Each application was rated..."
Remote SMS Attack Can Force Mobile Phones to Send Premium-rate Text Messages
"Attackers can force mobile phones to send premium-rate SMS messages or prevent them from receiving messages for long periods of time by leveraging a logic flaw in mobile telecommunication standards. The flaw was discovered by independent security researcher Bogdan Alecu, who demonstrated how it can be exploited at the DefCamp security conference in Romania on Saturday."
Javelin Reveals the Most Secure Mobile Banking Channels
"avelin Strategy & Research's latest Mobile Banking Security report evaluates the specific security issues mobile bankers face when using three mobile banking channels: web browser, application, and SMS texting. With 44% of banking consumers, the mobile browser is the most widely used of the three channels and is perceived by the consumer to be the most secure. Mobile bankers with smartphones view the browser as an extension of online banking. However, banking using a downloaded app is the second most widely used channel and actually the safest for mobile bankers, with 25% of consumers using this channel. This channel is. App banking has the potential to replace online banking altogether and serve as the consumer's primary access to the FI."
"Mobile financial services are attracting more and more attention, and not all of it is good. According to technology security company McAfee, more consumers are accessing their financial services via mobile devices and bad guys are looking to exploit that shift.
McAfee Labs released its 2012 Threat Predictions report, and along with apocalyptic-sounding cyberattacks on utilities and infrastructure, attacks on mobile devices, especially attacks targeting mobile banking, are high on the list of threats." Click to view the 2012 Threat Predictions report
Mobile Banking Security
"When is the last time you were inside your bank? It’s probably been awhile. With ATMs and online banking, and mobile banking, there’s rarely ever a need to visit a teller. And with the growing number of banking apps, we can virtually carry our banks in our pockets and purses. But at what cost?"
Mobile Banking: Rewards and Risk
"A recent study looked at the security of four types of mobile applications – financial services, social networking, productivity, and retail. The study focused on the types of sensitive data that mobile applications store on the device and whether these data were stored securely. Each application was rated..."
Remote SMS Attack Can Force Mobile Phones to Send Premium-rate Text Messages
"Attackers can force mobile phones to send premium-rate SMS messages or prevent them from receiving messages for long periods of time by leveraging a logic flaw in mobile telecommunication standards. The flaw was discovered by independent security researcher Bogdan Alecu, who demonstrated how it can be exploited at the DefCamp security conference in Romania on Saturday."
Javelin Reveals the Most Secure Mobile Banking Channels
"avelin Strategy & Research's latest Mobile Banking Security report evaluates the specific security issues mobile bankers face when using three mobile banking channels: web browser, application, and SMS texting. With 44% of banking consumers, the mobile browser is the most widely used of the three channels and is perceived by the consumer to be the most secure. Mobile bankers with smartphones view the browser as an extension of online banking. However, banking using a downloaded app is the second most widely used channel and actually the safest for mobile bankers, with 25% of consumers using this channel. This channel is. App banking has the potential to replace online banking altogether and serve as the consumer's primary access to the FI."
Tuesday, November 22, 2011
Mobile Banking Updates - Nov 22
Corporate Mobile Banking: A Look at J.P. Morgan ACCESS Mobile
"A new report from Aite Group analyzes the importance of corporate mobile banking as a critical component of any bank’s corporate-banking-technology strategy. The report highlights the current state of corporate mobile technology, and analyzes the key strengths and planned roadmap for J.P. Morgan ACCESS Mobile."
U.S. Bank Customers Get Mobile Banking Upgrade
"U.S. Bank recently released a new mobile banking application that significantly upgrades the mobile banking experience for all customers. The upgrade offers improved features and customer experience for iPhone, Android and BlackBerry. The new app, available in app stores now, begins a series of upgrades planned for U.S. Bank mobile banking over the next several months."
6 Ways To Make Mobile Banking Work For You
"Banking via mobile phones has skyrocketed in recent years, says Mary Monahan, executive vice president and research director for mobile at Javelin Strategy and Research in Pleasanton, Calif. A Javelin report released in October found that in the preceding 12 months, the percentage of mobile phone users conducting banking rose from 19 percent to 30 percent."
Mobile Tech and Advisors, Part 1: Its Place in the Business
"In a June 2011 report, the Yankee Group predicted that there will be 500 million mobile-banking users globally in less than four years. And while it is true that some people may never choose to bank or manage their investments using their mobile phones due to security, privacy or technology concerns, within a few years these people will be a small minority."
Global Online Money Transfer Company, Xoom, Launches Mobile Optimized Site to Reach Users on the Go
"Xoom.com, the fastest growing online money transfer company, today announced the launch of its fully optimized mobile site that enables users to send money worldwide, right from their mobile device."
Monday, October 24, 2011
Mobile Banking Updates - Oct 24
mFoundry Ranked Number 105th Fastest Growing Company in North America on Deloitte's 2011 Technology Fast 500™
"mFoundry, the fastest-growing provider of mobile banking solutions in the U.S., today announced it ranked 105 on Deloitte's Technology Fast 500™ ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America. mFoundry grew 985% percent during this period and is the only provider of mobile banking solutions to make the list."
Research and Markets: 2011 - 2012 Mobile Banking Vendor Scorecard: Mobile Banking Has Moved from a Nice-to-Have to a Must-Have Channel
"After a pause in 2010, consumer adoption of mobile banking skyrocketed by 60% in 2011 as hundreds of new banks went live with their mobile offerings. In this third annual review, Javelin provides a highly detailed analysis and ranking of the mobile banking solutions of 15 major vendors and identifies detailed best practices and the top 10 trends for the industry."
Case study: Citizens Bank, mobile banking and the commercial client
"Citizens Bank introduced Access Mobile, a mobile banking application for commercial customers, just about one year ago.
The app—which is available for iPad, iPod touch, iPhone, Android and Blackberry—allows businesspeople to manage their cash flow at their convenience. They can approve transactions, view account balances, approve transfers and receive alerts anywhere in the world."
Mobile Banking, Big Hit With ESP Credit Union’s
"Ten credit unions in the past 3 months have signed up for ESP’s Mobile Banking solution. 'We looked at a number of solutions to integrate into our ancillary service offerings. Although we found some great products, we figured we could build a solution that would be much more cost effective and run on more phones than the solutions we were looking at could offer,' said Matt Lefler, ESP Vice President. One of the first adopters was Oshkosh Truck Credit Union and here is was President, Sara Steichen had to say, 'We are a small credit union, but like to be on the cutting edge of technology.'"
"mFoundry, the fastest-growing provider of mobile banking solutions in the U.S., today announced it ranked 105 on Deloitte's Technology Fast 500™ ranking of the 500 fastest-growing technology, media, telecommunications, life sciences and clean technology companies in North America. mFoundry grew 985% percent during this period and is the only provider of mobile banking solutions to make the list."
Research and Markets: 2011 - 2012 Mobile Banking Vendor Scorecard: Mobile Banking Has Moved from a Nice-to-Have to a Must-Have Channel
"After a pause in 2010, consumer adoption of mobile banking skyrocketed by 60% in 2011 as hundreds of new banks went live with their mobile offerings. In this third annual review, Javelin provides a highly detailed analysis and ranking of the mobile banking solutions of 15 major vendors and identifies detailed best practices and the top 10 trends for the industry."
Case study: Citizens Bank, mobile banking and the commercial client
"Citizens Bank introduced Access Mobile, a mobile banking application for commercial customers, just about one year ago.
The app—which is available for iPad, iPod touch, iPhone, Android and Blackberry—allows businesspeople to manage their cash flow at their convenience. They can approve transactions, view account balances, approve transfers and receive alerts anywhere in the world."
Mobile Banking, Big Hit With ESP Credit Union’s
"Ten credit unions in the past 3 months have signed up for ESP’s Mobile Banking solution. 'We looked at a number of solutions to integrate into our ancillary service offerings. Although we found some great products, we figured we could build a solution that would be much more cost effective and run on more phones than the solutions we were looking at could offer,' said Matt Lefler, ESP Vice President. One of the first adopters was Oshkosh Truck Credit Union and here is was President, Sara Steichen had to say, 'We are a small credit union, but like to be on the cutting edge of technology.'"
Monday, April 11, 2011
Mobile Banking Updates - Apr 11
Wells Fargo’s Latest Mobile Innovation: Commercial Card Expense Reporting
"In its latest addition to a growing number of corporate banking services, Wells Fargo & Company (NYSE:WFC) today announced that its WellsOne® Commercial Card customers can manage their accounts and capture expenses with smartphones.
Through the CEO Mobile® service, WellsOne cardholders are now able to add out-of-pocket expenses, view charges, and check available credit – right on their smartphones. And WellsOne Commercial Card program administrators can view and edit credit limits and review declined transactions."
What the Big Banks Think of Mobile Banking
"Researchers predict that more than half of us will own a smartphone by the end of the year, and even people who consider themselves tech-shy probably have an ordinary cell phone in their purse or clipped to a belt. Not just for texting or surfing the net, these devices are at the cutting edge of the way we interact with our financial institutions.
A rapidly growing number of activities you can do in person or via a phone call can now be accomplished - sometimes faster, because there's no waiting in line or on-hold time - with a few taps of the keyboard on your cell phone. In fact, five years from now, Javelin Strategy and Research predicts that 86 million of us will use our mobile phones to conduct our banking activities."
Consumer Adoption and Satisfaction with Mobile Banking Surges in 2011
"In a recent mobile banking research study commissioned by FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, results show that 50 percent of all smartphone owners used mobile banking within the last 30 days and that 76 percent of mobile banking users were satisfied with their experience – a 16 percentage point gain in satisfaction from 2010."
Mobile banking: SMS can provide marketing, security and services for finance
"As smartphones have fuelled an incredible surge in applications, there has also been a retro-effect on older technologies. More and more institutions are seeing how the humble SMS can be used to provide very modern services. We spoke to Roland Foller, director of product management for mobile messaging at MACH, to find out the ways it’s using messaging to provide services for banks and financial institutions."
"In its latest addition to a growing number of corporate banking services, Wells Fargo & Company (NYSE:WFC) today announced that its WellsOne® Commercial Card customers can manage their accounts and capture expenses with smartphones.
Through the CEO Mobile® service, WellsOne cardholders are now able to add out-of-pocket expenses, view charges, and check available credit – right on their smartphones. And WellsOne Commercial Card program administrators can view and edit credit limits and review declined transactions."
What the Big Banks Think of Mobile Banking
"Researchers predict that more than half of us will own a smartphone by the end of the year, and even people who consider themselves tech-shy probably have an ordinary cell phone in their purse or clipped to a belt. Not just for texting or surfing the net, these devices are at the cutting edge of the way we interact with our financial institutions.
A rapidly growing number of activities you can do in person or via a phone call can now be accomplished - sometimes faster, because there's no waiting in line or on-hold time - with a few taps of the keyboard on your cell phone. In fact, five years from now, Javelin Strategy and Research predicts that 86 million of us will use our mobile phones to conduct our banking activities."
Consumer Adoption and Satisfaction with Mobile Banking Surges in 2011
"In a recent mobile banking research study commissioned by FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, results show that 50 percent of all smartphone owners used mobile banking within the last 30 days and that 76 percent of mobile banking users were satisfied with their experience – a 16 percentage point gain in satisfaction from 2010."
Mobile banking: SMS can provide marketing, security and services for finance
"As smartphones have fuelled an incredible surge in applications, there has also been a retro-effect on older technologies. More and more institutions are seeing how the humble SMS can be used to provide very modern services. We spoke to Roland Foller, director of product management for mobile messaging at MACH, to find out the ways it’s using messaging to provide services for banks and financial institutions."
Sunday, May 23, 2010
Mobile Banking Updates - May 23
Has the iPhone lost its cool?
"Did Google just turn the tables on Apple? Having entered the mobile software market late with its Android offering, Google's initial efforts were a pale imitation of the iPhone OS, a clunky user experience on sub-par handsets. Fast forward to 2010. Suddenly, Google Android is winning over the hearts and minds of technologists and signing up 100,000 converts a day. That raises the question: Is the iPhone losing its sheen?"
Top Mobile Banking Users? Android Phone Owners
"A new Javelin Strategy & Research report issued today – 2010 Mobile Payments – Crossing the Chasm: Industry Models Battle to Bridge the Gap – finds that Android phone users are the most likely mobile phone owners to have logged into their bank in the last seven days, followed by iPhone users. The on-the-go functionality of smartphones is revolutionizing how consumers make financial transactions – or want to. Up to one-in-five consumers have expressed interest in using their mobile device to make payments; Javelin expects a sharp rise in that demand over the next few years. To meet that mandate and boost the currently stalled mobile payments market, diverse stakeholders must work together to identify and shape effective business models and technologies and build the value proposition for both consumers and merchants."
Monitise: 20m mobile banking actions in six months
"Monitise's Mobile Money Manager platform provides mobile banking services to 240 banks in the UK and the US. It says its apps are now being used at the rate of a million a week. These apps run on iPhone, Blackberry and Nokia, and the company is also working on an application for handsets using Google’s Android software."
Obopay, YES Bank introduce mobile banking services
"Obopay, a mobile payment technology provider, has partnered with YES Bank and Nokia for the Commercial Pilot Launch of mobile banking services in Pune. This service is called Mobile Money Services by YES Bank, said a press note here. Obopay provides the technology platform which enables mobile money transaction services. The commercial pilot was launched in Pune in late February. Obopay is also responsible for the entire back-end work and has been able to enroll a significant number of Pune’s population, as well as sign up a substantial number of merchants and agents since then, the note said."
Mobile Banking Subscriber Numbers Doubling Every Year
"New forecasts from ABI Research indicate that in 2015 about 407 million people worldwide will carry out financial transactions with their banks using their mobile phones. Of those, some 66 million will be in North America.
According to senior analyst Mark Beccue, however, 'It’s not the North American market that is moving fastest to mobile banking: that crown goes to the Asia-Pacific region, which accounted for the lion’s share of the world’s 52.2 million mobile banking subscribers in 2009. The global number of subscribers more than doubled between 2008 and 2009, and is expected to almost double again in 2010. This growth can be seen everywhere, but Asia – led by India – is pushing it particularly hard.'”
"Did Google just turn the tables on Apple? Having entered the mobile software market late with its Android offering, Google's initial efforts were a pale imitation of the iPhone OS, a clunky user experience on sub-par handsets. Fast forward to 2010. Suddenly, Google Android is winning over the hearts and minds of technologists and signing up 100,000 converts a day. That raises the question: Is the iPhone losing its sheen?"
Top Mobile Banking Users? Android Phone Owners
"A new Javelin Strategy & Research report issued today – 2010 Mobile Payments – Crossing the Chasm: Industry Models Battle to Bridge the Gap – finds that Android phone users are the most likely mobile phone owners to have logged into their bank in the last seven days, followed by iPhone users. The on-the-go functionality of smartphones is revolutionizing how consumers make financial transactions – or want to. Up to one-in-five consumers have expressed interest in using their mobile device to make payments; Javelin expects a sharp rise in that demand over the next few years. To meet that mandate and boost the currently stalled mobile payments market, diverse stakeholders must work together to identify and shape effective business models and technologies and build the value proposition for both consumers and merchants."
Monitise: 20m mobile banking actions in six months
"Monitise's Mobile Money Manager platform provides mobile banking services to 240 banks in the UK and the US. It says its apps are now being used at the rate of a million a week. These apps run on iPhone, Blackberry and Nokia, and the company is also working on an application for handsets using Google’s Android software."
Obopay, YES Bank introduce mobile banking services
"Obopay, a mobile payment technology provider, has partnered with YES Bank and Nokia for the Commercial Pilot Launch of mobile banking services in Pune. This service is called Mobile Money Services by YES Bank, said a press note here. Obopay provides the technology platform which enables mobile money transaction services. The commercial pilot was launched in Pune in late February. Obopay is also responsible for the entire back-end work and has been able to enroll a significant number of Pune’s population, as well as sign up a substantial number of merchants and agents since then, the note said."
Mobile Banking Subscriber Numbers Doubling Every Year
"New forecasts from ABI Research indicate that in 2015 about 407 million people worldwide will carry out financial transactions with their banks using their mobile phones. Of those, some 66 million will be in North America.
According to senior analyst Mark Beccue, however, 'It’s not the North American market that is moving fastest to mobile banking: that crown goes to the Asia-Pacific region, which accounted for the lion’s share of the world’s 52.2 million mobile banking subscribers in 2009. The global number of subscribers more than doubled between 2008 and 2009, and is expected to almost double again in 2010. This growth can be seen everywhere, but Asia – led by India – is pushing it particularly hard.'”
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