Warid Telecom, Bank Alfalah unveil new brand 'Mobile Paisa'

"Empowering millions of people, making their mobiles serve their banking needs, this is the first of its kind Mobile Financial Service in Pakistan which is launched in association with a corporate bank, Bank Alfalah Limited. Monet (Pvt.) Limited is the technology provider who partnered with Fundamo - a global mobile platform provider, to utilize its technology and offer branchless banking solutions to banks in Pakistan." Continue Reading

International Mobile Banking Updates - April 16

MoneyGram and First National Bank launch mobile banking in South Africa
"MoneyGram and First National Bank (FNB) of South Africa have launched their first mobile money transfer service in Africa. The new mobile banking service enables FNB customers throughout South Africa provinces to send and receive international money transfers using their mobile devices. The service features data encryption system that protects account holder information. Transactions sent from a mobile device are available for collection within 10 minutes, subject to an agent’s hours of operation and local laws and regulations."

Australian banks need to embrace mobile application users: Study
"By the end of 2013, more Australians are predicted to be using their mobile phones to do banking than their desktop computers, but research released this week shows they are increasingly dissatisfied with the offerings from financial institutions. Mobile marketing firm BanterMob analysed ratings and reviews of Australian banking apps, and found nine of the 13 banks reviewed rated average or below average, and almost three-quarters of user app reviews were negative."

Buggy apps hurt customer experience in mobile banking
"Banks aren’t using online banking properly, Australian mobile marketing firm, BanterMob, has claimed. The group studied 42,000 ratings and about 2000 reviews of Australian banking applications available in the four major app stores. BanterMob director, Kelly Slessor, says the results show high levels of negativity and sub-optimal customer experience."

ABSA launch their mobile and tablet banking App
"ABSA proudly, if a little belatedly, revealed their on-line Banking App for Android and Apple iPhone devices today in Johannesburg. ABSA is the last of the South African big banks to launch their mobile App. The ABSA App will be of huge benefit to all the ABSA customers with smart devices. ABSA said the App would be the first real, native financial services App for smartphones and tablets in South Africa available for both retail and business customers."

ING Direct Canada Looks Forward On Mobile
"ING Direct Canada foresees a world where the mobile channel dominates consumers' interactions with their financial institution, and is preparing accordingly. The bank has been working with Armonk, N.Y.-based IBM on several mobile banking services using IBM's MobileFirst suite of solutions. 'People are using these devices for managing almost every part of their lives,' says ING Direct Canada's CIO Charaka Kithulegoda. 'The movement into managing the financial part of their lives has been a bit slower compared to retail, for example, but now they're starting to do it more and more in financial services as well.'"

Barclays Zimbabwe to launch mobile banking service, Hello Money (updated)
"Barclays will be launching its mobile banking application Hello Money, in Zimbabwe this month. The announcement was made as part of the launch of new ATMs by the company a few days ago. Hello Money will allow Barclays account holders to transfer money to a Barclays account or to an account at another banking institution, airtime top up, mini statements and balance enquiries."

Mobile banking transactions double, payments rise threefold
"Mobile banking seems to be gaining popularity among Indians with increasing number of people using this platform to buy tickets, pay bills, shop online, and transfer funds. The opportunity to expand reach, grow revenues and gain operating efficiencies have persuaded several banks to encourage their customers in using mobile banking. Consider this: The number of mobile banking transactions doubled to 5.6 million in January 2013 from 2.8 million a year ago. The value of these transactions increased threefold to Rs 625 crore during the month from Rs 191 crore in January 2012."

Stanbic IBTC Launches Mobile Money Application
"Stanbic IBTC Bank Limited has announced the introduction of the ‘Stanbic IBTC MobileMoney’ application for smart phones. The product is expected to run on blackberry and android operating systems. Stanbic IBTC’s Executive Director for Personal and Business Banking, Mr. Obinna Abajue, was quoted in a statement as saying that the move underscored the bank’s commitment to provide Nigerians with value-added products and services that suit their lifestyles, while giving them access to basic financial options via a secure mobile application wherever and whenever they want."

Banks in product development race
"AS competitive pressures mount in the banking sector, banks have to devise various safety valves, knowing that there is no single silver bullet for achieving sustainable competitiveness. Apart from diversifying sources of funding, enhancing liquidity profiles, fortifying balance sheets, growing deposit bases and enhancing access to lined of credit, banks are also actively pursuing a product and channel expansion strategy, if the recently released 2012 financial results are anything to go by. Most banks were unequivocal about their growth strategies and clearly articulated them in statements accompanying the results while others offered no clues. During the period under review, Agribank rolled out its first phase of e-Banking products; notably Internet and mobile banking, SMS alerts as well as e-statements. The bank also entered into a strategic partnership with EcoCash to facilitate roll out of mobile money transfer services. Going forward, Agribank intends to strengthen strategic alliances that grow non-funded income.

SA mobile banking fraud on the rise
"The Ombudsman for Banking Services (OBS) has noted an increase in complaints as mobile and internet banking fraud increased, according to its 2012 annual report on banking services. In the report, advocate John Myburgh, chairman of the board of the Ombudsman for Banking Services (OBS), said that the growing mobile customer base has spurred banks to launch ever-more innovative mobile payment options. With an estimated 13-million unbanked South Africans, the potential for such products is immense, he said."

Indian uptake of mobile FS on rise as banks launch more m-payment options
"Mobile banking is gaining popularity in India, with the number of mobile banking transactions doubling to 5.6 million in January 2013 from 2.8 million a year ago. The value of transactions increased tripled to rupees (INR) 625 from INR 191 in January 2012. CICI Bank, which has the largest share of mobile banking payments in India, makes periodic offers to its customers to encourage them to use mobile banking services. The bank produced these figures and has partnered with several service providers to offer customers discounts on their products and services, as well as entered partnerships to allow them to make utility bill payments via mobiles."

Mobile-banking with 1.4 million accounts shows remarkable surge
"Mobile banking in Pakistan has witnessed a reasonable growth as the number of such accounts (M-Wallets) has reached 1.4 million by 2012, showing an increase of 156 % as compared to previous years. The current number of m-banking accounts is seven times higher than the numbers at the end of September 2010. Of the total 1.4 million m-banking accounts, 66 % are active accounts and the ratio of active accounts has increased from 54 % as of end December 2011. The Pakistan Telecommunication Authority (PTA) in its report has revealed that this increase in the active accounts is mainly due to increase in the small transaction m-banking accounts by UBL Omni, facilitated by regulatory flexibility in account opening by State Bank of Pakistan (SBP)."

Internet Banking to Grow 65% a Year in Latin America
"The number of Latin Americans who have access to their bank with mobile divices will grow by 65% annually in the coming years and reach 140 million people by 2015, according to a Deloitte report released by the Latin American Federation of Banks ( Felaban). The study indicates that the concept of “mobile money” will transform Latin America in the coming decades and remember that in some rural areas access to traditional banking services is still limited because of the high costs involved."

International Mobile Banking Updates - Mar 20

Commercialbank names winners of online, mobile banking campaign
"Some eight lucky Commercialbank customers have been named as the winners of the bank’s recent online and mobile banking campaign. The eight week promotion, which was open to all new and existing customers registered for Commercialbank’s online banking and mobile services, highlighted the 'flexibility, security and range of banking services' that the bank’s customers have access to from their mobile phone or computers. Commercialbank’s mobile banking platform is compatible with iPad, Android and all smartphones, in addition to the iPhone, BlackBerry and mobile web."

RBS launch mobile banking app days after second card network crash
"From today, customers using the RBS/NatWest mobile phone app will be able to send a payment of up to £100 to anyone with a Visa card, by entering their mobile phone number. The announcement comes just days after the banking group apologised to customers for its second computer hitch in a year. A hardware fault left RBS Group customers blocked from using cashpoints for several hours last week, while online and telephone banking services were also disrupted. As well as currently having more than two million active users, the RBS/NatWest mobile banking app has 13 million logins per week."

Bank Alfalah, Warid launch mobile banking solution
"Monet – an independent mobile financial services company – partnered with Fundamo – Visa’s subsidiary and one of the world’s largest specialist mobile financial service providers – to launch a mobile money network in Pakistan, the press release said. Monet – which was set up by the Abu Dhabi Group last year – had secured approval from the State Bank of Pakistan to build its network, which is being offered to local firms planning to launch mobile money services."

The Benefits of Mobile Health, on Hold
"The world now has 5 billion mobile phones – one for every person over 15. Africa has a billion people and 750 million phones, and mobile is growing so fast there that in a few years there will be more phones than people. In some countries this is already true — South Africa has 47 million people, but 52 million SIM cards. The mobile phone is doing more than revolutionizing communication. It has the potential to improve many aspects of life in poor countries: commerce, health, agriculture, education."

Polish FI rolls out mobile banking, payment solution
"Polish financial institution PKO Bank Polski has launched its first mobile payment solution, called IKO. Based on the mobile payment platform of Swedish company Accumulate, the product supports mobile banking and payment services at the point of sale, real-time peer-to-peer payments and cardless withdrawals from ATMs."

Mobile banking a game changer, says SBP governor
"State Bank of Pakistan (SBP) Governor Yaseen Anwar has said that developments in branchless banking across the country have been so far marvelous, leaving nobody in doubt about the potential of mobile phone banking to be a game-changer in banking, m-commerce and financial inclusion. Speaking at the 6th International Conference on ‘Mobile Banking in Pakistan’ at a local hotel on Thursday, he said that developments in m-banking and m-commerce will lead us to connect the unbanked segment of our population to financial services, thus contributing to their empowerment."

Mobile phone-banking is failing to meet its potential
"India's 840 million mobile phone connections are emerging as knights in armour in the financial inclusion challenge—they hold the promise of providing banking access to the large swathe of India's unbanked population. Yet, today, less than 20 million people in India are using mobile banking services offered by some 50-odd banks, even though the National Payments Consortium of India (NPCI) has rolled out a gateway for inter-bank mobile payment services (IMPS)."

Shell-Backed Solar Company Bets on Phone Banking for Africa
"M-KOPA Kenya Ltd., backed by a Royal Dutch Shell Plc (RDSA)-funded charity, sees sales of its solar-lighting system that allows users to pay by phone surging 13-fold as mobile operators roll out banking services in Africa. The system, a panel powering lights and a phone charger, links to mobile banking services to allow customers to pay 40 Kenyan shillings (46 cents) a day to use it, M-KOPA says. The company plans to boost clients in Kenya to 100,000 from about 7,500 now, and expand abroad in future, Managing Director Jesse Moore said."

Kiwis double up on mobile banking
"The proportion of New Zealand's smartphoners who use their phone to conduct online banking transactions has almost doubled in the past year, according to Roy Morgan's latest Mobile Phone Monitor. While a majority of smartphone users (58%) still bank online using a computer, 16% now conduct banking on their mobiles—up from 8.3% in January last year."

Mobile banking service expanding in Bangladesh
"Mobile banking is gaining ground among the people in Bangladesh within a short span of time for facilitating its easy transaction services. Some 3.0 million people make now the use of different services under mobile banking. There are about 70,000 outlets of mobile banking service-providers, making the services available to the users. The extent of such services and the volume of transactions involve a sizeable amount of money, between Tk 300 million and Tk 350 million, per day, according to the data of the Bangladesh Bank (BB)."

Mobile banking technologies catch on in Russia
Portable terminals and personal finance management services are sweeping the global banking market. In Russia, the mobile- and online-banking segments are growing, introducing similar innovations to the market. Some banks are ready to invest in these innovations, while others wait for these new technologies to become actual drivers for the industry."

ANZ launches enhanced mobile banking app
"The ANZ Bank has launched more enhancements to its mobile banking application, goMoney, which the company says makes it the “first bank in Australia” to integrate personal and business accounts into a single mobile banking application for customers using an iPhone. Nick Reade, ANZ General Manager Small Business Banking, said small business customers wanted to do their banking “when and where it suits them,” and increasingly customers were using mobile devices."

Santander UK Launches Mobile Banking App for Android
"Santander has launched a brand new mobile banking app for customers who use Android smartphones and tablets, including the Kindle Fire, as well as updating the iPhone/iPad app the bank originally launched in January 2012. The new apps provide a secure service for banking on the go, including a helpful single platform where customers can see information for all their Santander current accounts, savings and credit cards. The apps are available from the Apple App Store and the Android store (Google Play) and free to all of Santander's personal banking customers."

Visa Europe signs new three-year deal with Monitise to expand its mobile banking services across Europe
"Visa Europe has signed a new three-year deal with Monitise to develop and expand its various Mobile Money solutions, which support mobile banking, payments and commerce networks, to more leading financial institutions across Europe. The extended partnership means that Monitise is guaranteed minimum revenues of €45 million over the next three years, with the chance to go beyond that provided 'certain user generated thresholds are achieved.'”

International Mobile Banking Updates - Dec 13

Bank of Ireland upgrades mobile banking app
"Bank of Ireland is upgrading its mobile banking service with a facility enabling users to transfer funds to other customers of the bank, using only their mobile phone numbers. The new Pay to Mobile service is due to launch to its customers early in the New Year, but customers are being asked to register in advance."

How often do expats in Pakistan use their mobile or smartphone for mobile banking?
"We recently undertook an online poll amongst expats around the world to see how often they use their mobile phone or their smartphone for mobile banking. We were able to split down the results into the top nine countries around the world and Pakistan is in this group of countries. Even though mobile phones and the Internet are intrinsically linked there are a number of interesting factors with regards to the Pakistan mobile phone market which differ greatly from your average developed country."

New M-Pesa mobile banking service, M-Shwari, runs on TEMENOS T24
"Temenos (SIX: TEMN), the market leading provider of banking software, today announced that its award-winning banking application T24 is being used as the platform for M-Shwari, the latest iteration of the hugely successful M-Pesa mobile money offering. Launched in 2007, M-Pesa's basic mobile banking services have been a massive hit, attracting more than 17 million subscribers or more than 80% of the adult population in Kenya 1 . M-Shwari, which launched this week, takes the M-Pesa service to the next level, opening a broad range of banking services including interest bearing savings accounts and micro loans to M-Pesa subscribers."

Kenya: Mobile Money Fights Banks
"Nairobi — Mobile phone service providers in Kenya have taken the battle for banking services right at the door steps of traditional banking service providers. In what will definitely spur a rush for banking customers, Mobile service provider Safaricom Tuesday unveiled a service the will enable Kenyans to save money, borrow loans and even earn interest by use of mobile phone."

International Mobile Banking Updates - Nov 27

Consumers in developed economies are behind in mobile banking adoption.
"Developed, Western markets are playing catchup with the rest of the world when it comes to adoption of mobile banking, with countries such as Germany and Italy recording rates well below the global average. Mobile banking brings advantages in terms of engagement and service differentiation, and banks in these countries are missing out on this opportunity."

Airtel expands Mobile Banking to capture 50% of customers
"Airtel Ghana says it is further expanding its Mobile Money platform, particularly the Mobile Banking portfolio to give existing and prospective customers a wider range of usage opportunities aimed at capturing at least 50% of customers onto Airtel Money."

Nigeria: Sanusi - Value of Mobile Banking Transactions Rises to N4 Billion
"The Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, has disclosed that the value of transactions through mobile banking has increased significantly to N4 billion monthly, compared to the N20 million it was beginning of the year. Sanusi said this in an interview with journalists at the sideline of a forum organised by the Enhancing Financial Innovation & Access (EFInA) in Lagos Thursday."

HSBCnet Mobile users authorise USD6 billion of payments
"A little over a year since its launch, HSBC’s corporate mobile banking service has been used to authorise USD6 billion worth of payments worldwide, including a single payment of USD50m. HSBCnet Mobile enables corporate treasurers to check account balances and statements, authorise payment instructions (including priority payments, payments in the Eurozone, inter-account transfers, bill payments and ACH credits/debits) and receive payment alerts using smartphones. In addition, users can authorise cross-border payments with ‘Get Rate’, which allows customers to view and instantly book foreign exchange rates when making foreign currency payments."

As mobile banking grows, Zong, Askari Bank join the race
"The State Bank of Pakistan (SBP), according to sources in Zong, issued branchless banking licence to Zong and Askari Bank last Friday after auditing their pilot project, launched in May this year. This is the second branchless banking license issued by the SBP this month – the central bank had awarded a mobile financial services licence to Mobilink’s sister concern Waseela Bank."

Connected world: mobile commerce reaches tipping point
"Around half of the world’s mobile owners are ready to use their phone to make purchases and manage money – but mobile finance players must tailor their strategies to the conditions of each market to take full advantage. Use of mobile banking and mobile wallet services is set to surge worldwide as consumers respond to the promise of convenience, and look past security concerns. The Mobile Life 2012 study reveals that 50% of the world’s phone owners are either interested in mobile banking services or using them already, whilst 45 percent show the same level of enthusiasm for making payments using their phone."

Service charge on mobile banking halved
"The telecom regulator has halved the charges on mobile banking aiming at quick expansion of the service across the country. The Bangladesh Telecommunication Regulatory Commission (BTRC) in a circular issued on Tuesday slashed the charge to 1.0 per cent from the existing 2.0 per cent, which will come into effect from December 1."

MTN, Pick n Pay in banking tie-up
"MTN and Pick n Pay are poised to launch a mobile bank. Called Tyme, which stands for “take your money everywhere”, the venture will piggyback on the banking licence held by Bank of Athens. Tyme hopes to make mobile money transfers and mobile banking commonplace in South Africa, where consumers have to date failed to embrace similar offerings en masse."

The history of online and mobile banking in Ireland … so far (infographic)
"Online and mobile banking will be used by 83pc of Irish adults by 2015, according to an infographic produced by Danske Bank to coincide with the launch of Ireland’s first iPad banking app. Did you know there are 3.2m users of online banking in Ireland and that six out of 10 smartphone owners use mobile banking? According to the infographic, remote banking has come a long way since the first mobile network was launched in Ireland in 1987."

Sanusi: Value of Mobile Banking Transactions Rises to N4bn
"The Governor of the Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi, has disclosed that the value of transactions through mobile banking has increased significantly to N4 billion monthly, compared to the N20 million it was beginning of the year. Sanusi said this in an interview with journalists at the sideline of a forum organised by the Enhancing Financial Innovation & Access (EFInA) in Lagos Thursday."

Corporation Bank allows mobile banking facilities via Tablet PCs, iPads
"The public sector bank, Corporation Bank, has started providing its customers the facility to carry out banking transactions through tablet PCs and iPads. This latest development of the bank in the digital banking space was announced by the Chairman and Managing Director of the bank, Mr. Ajai Kumar."

Mobile banking set for sharp rise
"A study in 2011 has revealed that mobile banking constitutes 0.1 per cent of total banking transactions. It is the second largest transaction medium after ATM, said Ajai Kumar, chairman and managing director of Corporation Bank here on Thursday. He was addressing the students at the TA Pai endowment lecture programme with the theme " Digital Banking." The programme was organised by Mangalore University."

International Mobile Banking Updates - Nov 13

Mobile banking expands to include microfinance
"Mobile banking in the Philippines is expanding into microfinance to serve the lower-income market outside of the country’s major urban centers. Tricia Dizon, head of financial services at Smart Communications, said in a statement the telecommunications giant was helping launch mBank Philippines."

Mobilink to launch mobile financial services
"Mobilink is all set to enter the mobile banking segment as Waseela Bank – sister concern of Pakistan’s largest cellular operator – has obtained central bank’s approval to launch Mobile Financial Services (MFS) in Pakistan, sources familiar with the matter said and the company’s spokesperson also confirmed on Tuesday. A subsidy of Orascom Telecom – Mobilink’s parent company – Waseela Bank is said to launch its MFS operations by December this year; the State Bank of Pakistan (SBP) issued the licence on Monday, according to sources."

Leading Pakistan Mobile Banking Provider Uses IBM Cloud
"The FINANCIAL -- IBM announced that Monet, one of Pakistan’s leading mobile-commerce providers, has selected a customized IBM cloud-based solution that will enable the company to enhance service efficiency and expand its presence across the country. Launched in 2012, Monet provides banks, mobile network operators and branchless banking agents in Pakistan with a technology platform that offers end-users a simple interface through which they can access a wide range of financial services on their mobile phones."

Mobile banking to overtake online
"More people will be banking on their mobile phones and tablets than online within five years, Westpac group executive, retail and business banking, Jason Yetton says. Mr Yetton said the explosive growth in mobile banking over the past two years, with more than 1.58 million Westpac customers using their devices for transactions, will accelerate. Westpac estimates that the number of payments made across its digital platforms will exceed one billion transactions within five years, with a total value of $6.8 trillion."

Good banking apps can make consumers jump ship: ANZ Bank
"The quality of a banking app can have the power to make consumers switch banks, according to ANZ Bank's Group General Manager for Innovation Peter Dalton. All the major Australian banks have poured money into customer-facing mobile application development as smartphone and tablet penetration continues to soar. Around one in 10 ANZ Bank customers do their banking exclusively on their mobile devices. Its competitors are all going through similar growth in mobile banking, with Westpac boasting 1.58 million customers engaging the bank through mobile devices."

Federal Bank rolls out mobile fund transfer facility to merchants
"Federal Bank has launched a funds transfer facility to merchants and enterprises through mobile phone. The Kochi-based private sector lender’s IMPS-Merchant Payment Service, in association with National Payment Corporation of India, will enable customers to use their mobile phones to access bank accounts and transfer funds."

PC Financial to launch a mobile banking app “in the upcoming months”
"While some Canadian banking institutions are already plugging away at mobile payments, PC Financial is wrestling with launching a mobile app. The Loblaws driven financial service, provided by CIBC, has approximately 2.3 million customers and some people have been requesting an app for months. Having a mobile banking app is basically standard these days. Offering simple features like checking account status, transfer funds, find ATM’s or contacting the closest branch makes the banking experience a more pleasant one."

Going mobile
"First National Bank customers are now able to track their spending habits, check their balance and make electronic bill payments from their smartphones. FNB has created an enhanced Online Banking System and also introduced Mobile Banking. 'For generations, personal service has been the signature of The First National Bank of Brundidge,' said John Ramage, senior vice president of FNB."

Use of Mobile Banking Continues to Grow: Canadian Bankers Association
"The Canadian Bankers Association (CBA) today released the results of its latest study on How Canadians Bank, which explores the role that modern technologies are playing in consumer banking. The results reveal that Canadians continue to embrace new approaches to banking and see these innovations as adding value to their daily banking. Going forward, the research suggests change will continue, driven by the convenience of the Internet, and led by younger generations who tend to be the first adapters."

Mobile Phones Empowering the Rural Poor through Mobile Banking
"Mobile phones are as numerous in Rwanda as the beautiful panoramic views of its famous 'Thousand Hills'. This was all the more confirmed as Vestine Nyirabagande, Urwego Opportunity Bank’s (UOB) client, sat with a mobile phone on her lap. She laughed when asked how many of her neighbors have mobile phones. 'I don’t think there is anyone in this area who doesn’t have a mobile phone!' she said."

St George customers getting smarter and smarter with their banking
"The St George Bank says it is seeing an “unprecedented demand” from its customers wanting to do as much of their banking as possible on their smartphones, and that more than 60,000 of its 400,000 mobile banking customers are already only using their smartphone to do their banking."

International Mobile Banking Updates - Nov 6

International Business Machines Corp. : Leading Pakistan Mobile Banking Provider Uses IBM Cloud to Expand Delivery of Secure Financial Services on Mobile Phones
"IBM (NYSE: IBM) today announced that Monet, one of Pakistan's leading mobile-commerce providers, has selected a customized IBM cloud-based solution that will enable the company to enhance service efficiency and expand its presence across the country. Launched in 2012, Monet provides banks, mobile network operators and branchless banking agents in Pakistan with a technology platform that offers end-users a simple interface through which they can access a wide range of financial services on their mobile phones."

Surviscor Names CIBC as the Top Firm for Mobile Banking Services in Canada
"Canadians are relying more and more on mobile devices to access banking services, and CIBC is leading the charge according to Surviscor Inc. Among the big six banks in Canada, CIBC ranked #1 in Surviscor's inaugural Mobile Banking scorCard(TM), a comprehensive and objective assessment of features and functionality in the fastest growing delivery channel for e-banking. CIBC was closely followed by Scotiabank in second place, with National Bank rounding out the top three."

Fiserv helps Cambodian bank offer mobile banking, payments to unbanked
"Financial services tech provider Fiserv Inc. is helping Cambodia's ACLEDA Bank Plc. to extend its mobile banking and payments service to the unbanked using Fiserv's Mobiliti Reach tool. Fiserv said ACLEDA has offered Fiserv-supported mobile financial services to since 2010 but will now offer those services to consumers with no existing banking relationship of any kind."

Canadians are Slowly but Surely Becoming Comfortable with Mobile Banking, Study Suggests
"Smartphone ownership and mobile banking usage continue to rise in Canada, according to a new poll conducted by Harris/Decima for CIBC, who is Rogers' partner for Suretap, a mobile payments service. At least 44% of Canadians now own a smarthone, the study suggests, up significantly from 33% in 2011. Among those aged 18 to 24, 77% own one."

Call to regulate mobile phone banking
"THE government should come up with legislation to regulate mobile banking activities in the country to prevent service providers from abusing the system, a senior banking official has said. Since the adoption of multiple foreign currencies in 2009, Zimbabwe has witnessed a proliferation of mobile banking systems modelled on the one used in Kenya called M-PESA."

Standard Bank skips along beaten digital path
"Standard Bank says its mobile banking application has achieved 160,000 downloads since its launch four months ago. This activity, the bank says, translates into R1.3 billion transactions through this channel since it launched on 27 June 2012. It also announced that its banking app, which is available on iOS, Android, and BlackBerry, would also be the first SA banking app in the Windows 8 app store."

Survey reveals only 1 in 4 expats using mobile banking services abroad
"A recent survey conducted by ExpatForum.com in conjunction with Barclays International showed that most expats “never use” mobile banking tools, despite holding several bank accounts in different countries. The study polled 10,000 expats to find out how they manage their finances while working abroad. Of the respondents, 73% said they “never” accessed their bank accounts from a smartphone or tablet device, 17% reported that they “occasionally” used mobile banking platforms, and “10%” “frequently” checked bank accounts while on the go."

Metaforic to Demonstrate Mobile Software Security at FinovateAsia
"Metaforic, the innovative software security company, today announced that it will demonstrate its latest technology at FinovateAsia on November 6. The demonstration will showcase Metaforic’s ability to detect and respond to a range of security threats against mobile financial applications. Mobile app security is becoming increasingly critical as mobile services and transactions increase. In the latest incident, NatWest Bank had to pull its mobile banking app after fraudsters managed to steal thousands of pounds from customers."

Bank of Africa selects Clear2Pay's mobile internet banking platform
"Bank of Africa, a subsidiary of BMCE Bank, has added Clear2Pay's Mobile Internet Banking (MIB) technology to help its customers with mobile financial services in 13 launching countries. The bank witnessed a rapid growth in business covering 14 geographies in the African continent, where it manages 1.4 million bank accounts, an increase of 24% since 2011. The new system, which is capable to integrate with the bank's existing e-Banking application, will also help to trim operational costs, while boosting customer satisfaction."

International Mobile Banking Updates - Oct 23

Aussies way ahead in mobile banking
"Latest research from Google shows Australians are 65 per cent more likely than the British to do banking via their smartphone and 14 per cent more likely than Americans. St George Bank has more than 390,000 mobile banking customers and growing fast, especially in the demographic of those aged up to 35, who make up 75 per cent of the users.St George Banking Group's head of eChannels, Travis Tyler, says the explosion of consumers who have turned to phone apps to do their banking is continuing to skyrocket."

Namibia: Bank Launches Mobile Banking
"In its continuous efforts to improve the service offering to its customers Standard Bank Namibia (SBN) has announced the launch of Mobile Banking to the Namibian market. The service will be available to customers on Friday 12 October 2012. Mobile Banking offers a more flexible way of banking anytime, anywhere. It involves the access to and provision of banking and financial services through mobile devices."

Carfinance247.co.uk reveals how 86% of Brits shun mobile devices when applying for finance
"While mobile banking and contactless payments are hot topics now, surprising data from car finance and dealer specialist carfinance247.co.uk reveals that only 14% of people would actually feel comfortable applying for finance via a mobile device. An independent study asked: 'Would you feel comfortable applying for guaranteed car finance via a mobile device such as an iPad, mobile phone etc?'"

RHB Bank expects 1.5m internet, mobile banking clients by 2013
"RHB Bank Bhd expects to garner 1.5 million internet and mobile banking customers by next year, said its retail banking director Vince Au Yoong. The bank currently has 850,000 customers who use its online and mobile banking services, almost double the 450,000 users last year."

Mobile Phone & Smart Card banking accounts surge
"The Deputy Governor, State Bank of Pakistan (SBP), Kazi Abdul Muktadir, has disclosed that Mobile Phone and Smart Card banking accounts have surged to nearly 1.45 million in the country, which indicates that Pakistan's financial sector is now going through a dynamic transition led by the latest technology solutions. Speaking at the launching ceremony of a new product, `Easy Paisa Khushaal' of Tameer Microfinance Bank (TMFB) and Telenor at a local hotel on Tuesday, he said: `The existing active players- the Tameer Microfinance Bank (Easypaisa) and UBL (Omni), have so far registered more than 1,447,381 mobile wallet accounts (mWallet accounts) of un-banked and under-banked population of the country."

Say goodbye to the branch — the future for banking is upwardly mobile
"In developed countries such as the United States, United Kingdom and Australia, mobile banking — describing the use of mobile phones to make financial transactions — is transforming banking from a physical (requiring visits to a bank branch) to non-physical activity. Visits to banks to deposit cheques, and cheques more generally, appear to be disappearing. A recent report from The Economist cited a finding from JP Morgan that over the past year in the United States, customers deposited 10 million cheques by taking pictures of them rather than visiting a branch. In the Netherlands, only half of all bank customers have stepped inside a branch in the past year."

10-month-old bank launches mobile services
"Customers of the first Tanzania’s fully Sharia compliant bank, Amana Bank, will now be able to use modern technology to access the bank’s products after it launched internet and mobile banking services. Amana Bank’s head of Business, Mr Sudi Marungu, said they have decided to introduce the services to enable their clients to experience maximum enjoyment as they access the bank’s services from wherever they are and in convenience all the time."

Digitization: Banking won’t change until banks do
"Across Asia consumers are becoming increasingly comfortable with technology, with growing numbers using smartphones and tablets to bank on the go. Channels have multiplied, giving customers more choice than ever before. However, for all the innovation in banking in recent years, the drop in loyalty rates across Asia suggests banks are failing to get closer to their customers, or provide them with sufficiently useful and convenient products and services."

Wincor Nixdorf: Cross-Channel Integration Brings Mobile Banking to Customers
"To meet the fast-paced lifestyle of their consumers, banks are increasingly networking their services between the branch, Internet, mobile banking and self-service delivery channels so that customers can manage their transactions on the go. To help financial service providers meet their customer’s needs and be competitive in the marketplace, Wincor Nixdorf showcased its PC/EMobile Cash application as part of Wincor World, Oct. 16 in Germany."