RBC looks to clear the air on mobile app privacy fears

"Facing customer complaints about the privacy settings in its new mobile banking app, Royal Bank of Canada promises that it does not sell client data and guarantees that its requests for access to information on the mobile devices simply lets the app function as advertised.

The concerns emerged this week after RBC launched an updated version of its mobile banking app. Customers with smartphones powered by Google Inc.’s Android operating system who attempted to install the program quickly realized RBC requested permission to access their call logs and contacts, as well as pinpoint their location via GPS." Continue Reading

International Mobile Banking Updates - Sept 10

Leading lawyer on FCA interest in mobile banking
"The mobile banking market is expanding rapidly and Clive Anderson, Director of Supervision at the FCA, stated that it is right that the FCA now takes stock of recent developments and looks at how consumers can be ‘appropriately protected' in the future. Leon Deakin, senior associate at leading national law firm, Thomas Eggar LLP, comments: "Whilst these developments and the FCA's interest is welcome it does again demonstrate that the law and regulation so often lags behind technological developments. Indeed, this sort of technology and the ideas behind it are certainly not new so why has it taken so long to get to this point?"

RBC Mobile Banking app for BlackBerry 10 coming “by the end of September"
"RBC seems to be taking care of the thousands of BlackBerry 10 users in Canada. According to a reply on Twitter the financial institution will be making their mobile banking app available to BB10 users ‘by the end of September.”

BB issues instructions to stop breach of guidelines
"The Bangladesh Bank (BB) Sunday issued fresh instructions on mobile financial services, imposing some restrictions on money transactions to check irregularities and use of the service by non-account holders. The central bank asked all banks to strictly follow its instructions regarding use of know-your-customer (KYC) form in opening mobile accounts. No transaction can be made before the bank concerned scrutinises and approves application of the client/form."

Africa will Rule the World in Mobile Money, Expert Predicts
"African countries like Nigeria, Kenya, and Tanzania have been predicted to rule the world in mobile money transactions, which include mobile banking and mobile wallet, in the next few years, going by the continent’s population and zeal for technology advancement. Head, Marketing and Strategy at Ericsson, Mr. Shiletsi Makhofane, who made the prediction in Sweden, while unveiling the company’s Digital Agenda for Africa, advised banks and tele-communications operators in Africa to see the opportunities and take advantage of them to boost African technology development."

Latin America Experiments with Mobile Banking
"Latin America has surpassed 100% mobile phone penetration, according to the latest data from World Bank. In reality, about 30% of the population still doesn’t have a phone. (Urbanites with more than one phone inflate the number.) Still, adoption is strong and growing. It follows that banks in Latin America have been embracing mobility: releasing feature-rich mobile apps primarily, and also updating online banking offerings and targeting the unbanked and underbanked."

Kenya: Are Bitcoins the Future of Mobile Money?
"Want to go to the market, pay for a taxi or send money back home? In Kenya, all you need is your mobile phone. Ever since Safaricom, Kenya's largest mobile-network operator, launched the mobile-payment system M-Pesa in 2007, some two-thirds of Kenya's adult population have subscribed, and an astonishing 31% of the country's GDP is now spent through mobile phones."

Western Union Expands Mobile Money Transfer Service to Nepal
"The Western Union Company (NYSE: WU), a leader in global payment services, today announced the launch of a new mobile money transfer service that enables consumers to send money into a mobile wallet in Nepal. The new mobile money transfer service to Nepal integrates directly with eSewa, one of the leading digital wallet platforms in Nepal with more than 200,000 registered users. The functionality was developed through the collaborative efforts of Western Union, its Agent Nabil Bank Limited, and FonePay Pvt. Ltd., the owner of eSewa."

Jaiz Bank Partners Teasy Mobile Money To Provide Mobile Banking
"Jaiz Bank, a Sharia-complaint Nigerian financial institution, has partnered Teasy Mobile Money to allow customers access to financial services using their mobile devices. According to Hassan Usman, the bank’s acting MD, the partnership with the mobile service company will extend its reach to citizens, who lack conventional banking services due to its high cost, thus increasing financial inclusions in West Africa’s largest economy."

Mobile credit card 'Swosti' launched
"A mobile credit card named 'Swosti' was launched Wednesday in the country for the first time to facilitate loans for the marginal people who are mainly involved with the non-government organisations (NGOs). Bangladesh Bank Governor Dr Atiur Rahman inaugurated the new service as the chief guest at a city hotel."

Monitise loss widens as operating costs double
"Mobile banking technology company Monitise Plc reported a wider loss as operating costs doubled due to investments in technology and services and the company's recent acquisition. Shares in the company fell as much as 9 percent to 48.75 pence on the London Stock Exchange, making it one of the top percentage losers in early trade. The stock touched a life high on Wednesday after the company announced two new contracts and Goldman Sachs raised its price target on the stock."

99wuxian joins China’s lucrative mobile market
"Transcription of Finance News Network Interview with 99wuxian Limited (ASX:NNW) Chairman, Ross Benson"

Banking on the value of USSD
"The most obvious option available to banks trying to roll out mobile financial services in emerging markets is to set up services directly with a mobile operator. Indeed, many banks in emerging markets have a mobile banking platform from one of the vendors present in the market. However, they still face the challenge of capturing the hearts and minds of consumers, as many potential customers do not see how mobile banking will affect their lives."

Australians Increasingly Using Tablets And Smartphones For Banking
"Over the next half decade, Australians will increasingly prefer to do online banking using their tablets and smartphones as opposed to the traditional PC says Jason Yetton wh runs retail and business banking for Westpac. Recently the lender revealed it had processed $3 billion of transactions made by its 270,000 iPad app users since the lender rolled out the app less than a year ago. Mr. Yetton added that the desktop computer still dominates followed by the smartphone, the number of tablet transactions is catching up."

Bank Audi awards multi-year service contract to Capital Banking Solutions
"Bank Audi sal - Audi Saradar Group (Bank Audi) has inked a 5-year agreement with Capital Banking Solutions, to deliver software programs to support the bank's complete range of products and services. The lender has been provided with an enterprise license agreement to use Capital Banking Solutions product portfolio for core banking, business intelligence, compliance, customer relationship management, portfolio management, and multi-channel support including internet and mobile banking. Based on the terms of the agreement, the financial technology company will also act as the outsourced technology partner for the lender."

International Mobile Banking Updates - July 23

Over 80 million people in Middle East and Africa will turn to mobile banking by 2017
"Experts predict that mobile banking in the Middle East and Africa will jump from 19,8 million to 82,1 million users by 2017. Over the last five years the developing world has experienced substantial growth in the adoption of mobile technology. Emerging markets offer not only new possibilities for traditional banking but major potential for transformative banking."

BMI Bank launches mobile banking service
"Bahraini retail and commercial banking institution, BMI Bank recently announced the launch of a new service to help enhance its customers experience when interacting with the Bank. mBanking, the Bank's new mobile banking service, will enable customers to carry out most of their regular banking transactions in a convenient, safe and secure environment simply using their smartphones."

China Mobile and China UnionPay present NFC payments service
"Chinese bank card association China UnionPay and China Mobile, a mobile network operator, have rolled out their NFC payments service in over 14 cities, including Shanghai, Beijing and Guangzhou in the country. Available for Android devices, customers can send and receive mobile payments at participating merchants equipped with UnionPay QuickPass contactless POS terminals with the help of an NFC SIM card and mobile wallet application, as reported by the Nfcworld.com."

New tax sparks fears for the future of Uganda's mobile banking
"The Ugandan government has levied a 10 percent tax on mobile banking transactions, in a move some have criticized as being short-sighted and potentially harmful to the country's expanding mobile money industry. The country's finance ministry hopes to raise $12m from the mobile banking tax, which went into effect in early July. At least some of this money will come from remittances, which, according to finance minister Maria Kiwanuka, amounted to $767m last year. But the vast majority of mobile banking customers live in Uganda, and faced with rising transaction costs, many are starting to rethink the system altogether. This could spell trouble for Uganda's emerging mobile banking industry and the economic potential it represents."

FNB strides towards mobile banking
"FNB says that 10% of its banking clients accessed its website via a smart device over the past year to June 2013, up from 4% previously. The bank went live with its revamped website on Sunday (14 July 2013), aimed at an improved user experience and a responsive design enabling scalability to multiple devices. 'At least 900,000 clients have accessed FNB.co.za via a smart device and 10% of banking clients are accessing via a smart device…and growing. It was only 4% last year,' FNB CEO of Online Banking Lee-Anne van Zyl told BusinessTech."

Malaysia’s New Mobile Banking Platform: Poised for Success
"Bank Negara Malaysia has recently launched a new mobile payment channel called MyMobile through its wholly owned subsidiary Malaysian Economic Clearing Corporation (MyClear). For the kickoff, MyMobile has teamed up with the country’s three largest banks, CIMB, Maybank and Public Bank, as well as the three largest mobile operators, Maxis, Celcom and DiGi, who collectively represent 93 percent of the country’s market."

Paying mobile dividends, digital payments giving banks a run for their money
"Australia's big four make up a cosy oligopoly without any real competition, say the critics. But now cashed up global giants are muscling in to the mobile payment space. The likes of Apple, Google and PayPal are on the offensive giving consumers and merchants plenty of new options to choose from."

Judge dismisses legal action to shut down Safaricom’s M-Shwari service
"An injunction sought by Faulu Kenya, a Kenyan micro-finance provider, to shut down Safaricom’s M-Shwari mobile banking service – pending the outcome of a court case – has been dismissed by a judge according to local press reports. As part of its push to broaden the range of M-Pesa services, Safaricom launched a banking service last November in partnership with the Commercial Bank of Africa (CBA). Dubbed M-Shwari, which runs on the M-Pesa platform, the service offers loans and interest on deposit accounts."

RBC announces RBC Secure Cloud: The first cloud-based mobile payments solution in Canada
"RBC today announced its RBC Secure Cloud mobile payments service (patent-pending). This new technology, a first in Canada, will allow clients to more safely and securely pay for purchases using their mobile devices. Keeping sensitive client data secure with RBC in the cloud, not on the phone, makes RBC Secure Cloud a safer, faster, more flexible solution. RBC will bring RBC Secure Cloud to market by the end of the year with debit and credit on a number of smartphone platforms."

TD thanks customers for eighth straight J.D. Power Award in customer satisfaction
"A leader in responding to customers evolving needs, TD Canada Trust has built a stellar reputation for exceptional customer service and convenience. Building on its commitment to delivering convenience to Canadians, TD Canada Trust has received the highest ranking in customer satisfaction among the Top Five banks for the eighth straight year by the J.D. Power 2013 Canadian Retail Banking Customer Satisfaction Study(SM). TD Canada Trust performs well in all seven factors, including channel activities; account information; facilities; product offerings; fees; financial advisor; and problem resolution."

International Mobile Banking Updates - May 21

Mobile Expert Series Mark Crofton
"Cognizant SMAC Analyst Kevin Benedict interviews SAP's Mark Crofton at SAPPHIRE NOW 2013 on the mobile solution and mobile banking market in Latin America."

RBC, Bell Mobility add to payments rivalry
"Canadian bank RBC and Bell Mobility, the country’s second largest mobile operator, are to launch a service that further heats up competition in the country’s payments market. RBC’s mobile banking customers will be able to buy goods in shops using their debit or credit cards, so long as they have a compatible NFC-based smartphone from Bell Mobility. The service will launch later this year, following a roadtest with selected merchants and consumers in the summer."

UPDATE 2-Safaricom warns on mobile banking tax as profit surges
"Kenya's top telecoms firm Safaricom expects to maintain its almost 40 percent earnings margin this year but "premature taxes" could stifle growth of lucrative mobile phone-based money transfers, its chief executive said on Tuesday. Safaricom, 40-percent owned by Britain's Vodafone, said pretax profit climbed to 25.5 billion shillings ($304.30 million) in its year to end-march, off the back of 16 percent growth in total revenue."

Noor Islamic Bank launches reality mobile banking app
"Noor Islamic Bank (Noor)’s augmented reality ‘Bank in Your Hand’ smartphone and tablet application is now available for download from Apple’s App Store, the banks announced in a press reealse. Work is also in progress on adapting the app to other smart phone platforms, it said."

HSBC Bank Brazil expands DIGIPASS for Mobile deployment
"VASCO Data Security International, Inc. (Nasdaq: VDSI; www.vasco.com), a leading software security company specializing in authentication products, announces that HSBC Bank Brazil, a subsidiary of HSBC Holdings, one of the largest financial conglomerates in the world, deployed the DIGIPASS for Mobile technology for an enhanced group of retail and corporate customers, while expanding the offered online and mobile services. Currently, more than 90,000 account holders use their mobile device to access all self-service channels to execute financial transactions. With this enhancement, HSBC Brazil is the first and only financial institution worldwide to fully integrate access to internet banking, mobile services, contact center, ATMs and e-commerce."

SAP Technology powers mobile banking for Standard Bank communities
"STANDARD Bank has introduced the SAP business solutions in bringing banking services closer to the people of Tembisa in South Africa. It introduced AccessBanking as a service to help people in communities apply for a bank account and then use the account. It has used technology from SAP to enable agents to enable customers to set up bank accounts without customers having to travel to a major city. SAP technology is used to enable new accounts to be configured in the field using a mobile handheld device."

Mobile banking up 11.5% in South Korea
"The daily use of mobile banking in South Korea rose 11.5 percent in the first quarter from three months earlier, an increase aided by the growing use of smartphones, reports Yonhap News Agency citing the Bank of Korea. Transactions by mobile banking or banking services accessed via mobile handsets were valued at KRW 1.26 trillion per day in the January-March period, up from KRW 1.13 trillion three months earlier."

ING DIRECT Mobile Banking App Wins BlackBerry Achievement Award for 'Putting Customers First'
"ING DIRECT has been recognized for its unique mobile banking experience on BlackBerry® 10 smartphones. The bank, which was the first Canadian financial institution to introduce a BlackBerry 10 app, has won the BlackBerry Achievement Award in the 'Putting Customers First' category, which acknowledges customer-centric experiences that make a business stand out. The ING DIRECT mobile app provides customers with a convenient and secure way to conduct their banking transactions. The app puts an increased focus on savings through features like "Orange Alerts", pushing notifications to the BlackBerry® Hub for triggers such as account balances reaching pre-determined thresholds. This is just one of the intuitive features the bank has built into its mobile app with the aim to simplify and modernize banking for all Canadians."

PMC Bank Deploys Array's Application Delivery Controller
"Punjab Maharashtra Cooperative Bank (PMC Bank), provider of banking services to customers with utmost ease and convenience, has chosen Array Networks' ADC and server load balancing solutions to serve their customers with secure high speed connectivity for internet and mobile banking. PMC Bank required high availability, speedy performance and reliable security for their internet and mobile services portals. They wanted to enhance their online transaction processing in order to provide customers with good user experience and around the clock service. PMC Bank conducted a detailed requirements analysis with their compliance and networking teams which was subsequently shared with various vendors. All the leading ADC products were tested; Array Networks' Proof of Concept (POC) solution was selected after a month of live internet usage at PMC's production site."

Banking now goes high-tech with unmanned services
"Standard Chartered Bank customers no longer need to endure long queues to access financial services after the lender opened a digital branch last week that offers unmanned banking services. Dubbed ‘Breeze@ The Junction’, the electronic banking unit provides all the banking solutions available at traditional branches, but through online and mobile banking as wells as intelligent ATMs. The units are fitted with iPads, personal computers, touch screens mounted on walls, and free wireless Internet; allowing customers to carry out transactions on their own."

International Mobile Banking Updates - May 14

Mobile banking apps to be tried on Everest
"Mountaineers Horacio Galanti and Horacio Cunietti have commenced a unique Himalayan expedition to summit Everest to mark the 60th anniversary of its first ascent. The expedition will also push the boundaries of mobile technology in extreme environments and help in the recovery of debris left behind on the world’s highest peak. While on their expedition, the duo are expected to subject Standard Chartered’s Breeze mobile banking apps to the rigors of some of the most challenging environments known by attempting to trade stocks and transfer funds during their journey."

Mobile money accelerates financial inclusion
"The volatile economic environment which has prevailed in Zimbabwe over the past decade largely contributed to the failure of telecoms and banking institutions to adopt mobile banking. But over the past year there has been a foray by telecommunication and banking institutions to establish mobile banking platforms. Examples of mobile banking products that have been launched include: Kingdom Bank’s Cellcard, Tetrad’s eMali, Econet Wireless’ Ecocash; Cabs Bank’s Textacash, Interfin Bank’s Cybercash and CBZ Bank’s mobile banking, among others."

Corporation Bank launches app for iPad, Android
"City-based Corporation Bank had launched an app for iPad and Android. The Bank recently had come out with a special mobile banking app through Android and iOS. This app can be downloaded free from app store for iOS and Google Play for Android phones and tablets. The bank is one of the first public sector banks to introduce transaction-based banking in tablet PCs and iPads."

Central Bank calls for tight security in mobile banking
"Bank of Uganda has urged banks to ensure that they operate a secure and robust mobile banking platform to protect customers’ mobile bank accounts. 'A number of banks are now offering mobile banking products. It is in light of this that I re-iterate that every new product comes with its attendant risks. It is imperative that potential risks are identified and appropriate mitigation measures developed,' Ben Sekabira, the acting executive director supervision, Bank of Uganda, said."

Valimo Offers over One Million Tele2 Norway’s Mobile Users Easy to Use Strong Authentication, Mobile ID and Legally Binding Electronic Signature
"Valimo, a leading solution provider for mobile user authentication and digital signature software, announces that Tele2 Norway, a major European mobile operator, has selected its Mobile ID authentication service platform. The Valimo solution will offer over one million Tele2 subscribers in Norway the opportunity to securely access services that require strong, two-factor authentication, such as internet banking or e-government applications, using their mobile phone to generate a legally-binding electronic signature. As a first step, this new service will enable highly secure and legally binding log-in for online and mobile banking with four major banks in Norway."

Kenyan mobile innovation hard to export
"Kenya's mobile banking innovation may prove difficult to export. The African country has led the way with an SMS-based payment service called M-Pesa, which launched in eastern India last month.The government's push to give all Indians the right to banking access bodes well. But financial regulations and fierce competition may mean M-Pesa in India will face higher hurdles than its Kenyan role model."

Capitec banking app on its way
"Capitec says its dedicated banking app will be coming near the end of its current financial year (February 2014), and will be designed to run on both smart and feature phones. This follows the recent launch of Absa‘s banking app on 10 April 2013 – the last of South Africa’s so-called “big banks” out the door with a dedicated mobile application. However, Capitec told BusinessTech that it does not feel pressured by the competition to released a specialised banking app for smartphones, indicating further that its digital plans differ from those of its competitors."

E-banking survey reveals surge in mobile banking
"Online research specialist Columinate has released the results of the second annual Internet Banking SITEisfaction survey, one of the most comprehensive reports on customers' usage and perceptions of e-banking in South Africa. The survey quizzed over 1,400 South African e-bankers on their online banking habits and attitudes, and revealed several interesting trends. Henk Pretorius, Columinate CEO, explains that the survey is important as it provides insights into one of the fastest changing areas of customer banking."

Mobile and Alternative Payments in Mexico
"The Mexican consumer financial services landscape is in the midst of great change, driven by the confluence of technological innovation, innovative forms of branch expansion, regulatory changes in consumer deposit accounts and bank cards, and a strong push to facilitate mobile banking and payments. Indeed, major banks and telecommunications companies, most notably Telcel, have launched mobile banking and payments platforms that we expect to gain significant traction in 2013. At stake is the transformation of the Mexican banking system--from remittances to redefining branch banking--which can address longstanding financial inclusion disparities by reaching tens of millions of consumers heretofore unable to participate in formal banking services."

Bell and RBC strike deal to launch a mobile payment service, will be available “by the end of the year”
"Mobile payments in Canada are slowly increasing in popularity and will gain even more traction this summer. Rogers recently teamed up with CIBC to launch ‘suretap’, and Bell announced a partnership with RBC this morning. The new mobile payment solution will only be available for RBC customers who download the RBC mobile banking app, plus have a compatible Bell smartphone. The mobile payment option will be included into the current RBC Mobile banking app, not a standalone app, and will appear on the homescreen menu. The app will allow users to purchase small ticket items (debit or credit) from their smartphone."

HSBC seeks balance between mobile payments, Hong Kong branch network
"The increased popularity of mobile payments in Hong Kong has pushed HSBC to invest in related technology, but the bank said it would not stop expanding its branch network. Diana Cesar, head of retail banking and wealth management at HSBC in Hong Kong, said the lender would strike a balance between different banking services, even as mobile banking emerged as a growth area. In the first quarter, average monthly HSBC mobile banking logins increased more than 60 per cent from last year, Cesar said at the launch of a wealth management app."

Mobile Banking Updates - Jan 4

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

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

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

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

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

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

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

International Mobile Banking Updates - Dec 7

I’ve Seen the Future (in Haiti)
"Cash is so 20th century. I’ve been experimenting with a 21st-century alternative, using money on a cellphone account to buy goods in shops. It’s a bit like using a credit card, but the system can also enable you to use your cellphone account to transfer money to individuals or companies domestically or internationally. And it’s more secure because a thief would have to steal not only your phone but also your PIN to get access to your money."

Mobile Banking in the Emerging World
"In Tanzania, a hospital sends money by text message to women in remote areas so they can pay for bus fare to travel for critically needed surgery. In Afghanistan, the government pays its police officers by text message to skirt corrupt middlemen. In Pakistan, the biggest financial network is not a bank, but a unit of Telenor, the Norwegian mobile phone operator."

Seven Indian Banks Launch P2P Interbank Mobile Payments; How It Works
"ional Payment Corporation of India, on November 22nd 2010, launched Interbank Mobile Payment Service (IMPS) in India, with seven Banks enabling transfer of funds using mobile phones. The participating banks include some of the largest banks in India: State Bank of India, ICICI Bank, Union Bank of India, Bank of India, Yes Bank, Axis Bank and HDFC Bank. The IMPS service will operate as back-end for the banks allowing them to offer a real-time money transfer facility to customers."

Hong Kong slow in adopting mobile banking
"Mobile banking impacts consumers' bank selection, according to the Mobile Banking Perception Study by global market research company Synovate. People's perceptions change about a bank if it does not offer mobile banking services and the study shows that about 50 per cent of consumers of this service use it for stock trading. However, only four per cent of Hong Kong respondents are currently using mobile banking."

Mobile banking: China Mobile may face opposition to pet bank plans
"Despite regulator concerns along the way, China Mobile seems determined to roll out comprehensive mobile banking services to it’s subscribers. With Shanghai Pudong Development (SPD) Bank, which China Mobile owns 20% of, it is planning to launch a wide range of financial products. But it would seem that regulatory issues are raising their heads once again."

RBC iPhone and BlackBerry app “coming soon”
"ING, CIBC, TD Bank, Desjardins, Scotiabank all have some sort of mobile banking app (iPhone, BlackBerry, Android) and for some reason RBC (the largest financial institution in Canada) to date doesn’t… but good news for customers as it’s “coming soon”.

RBC has posted a splash page with really old images on their site stating an iPhone and BlackBerry app will be released shortly. There is the standard features that include the ability to pay bills, transfer funds, check account balances, Use Interac Email Money Transfers and locate branches and ATMs."

Taiwanese mobile banking users to nearly triple: survey
"Over 30 percent of the public is expected to use mobile banking services within one year, to almost triple from the current 11 percent, according to the nation's first mobile banking online survey conducted by Citibank Taiwan Ltd., yesterday."

BOK launches mobile banking service
"Bank of Kathmandu (BOK) has on Wednesday launched a unique Mobile Banking service called "M-PAISA". According to the bank, it has introduced the service with the aim to provide an attractive and beneficiary service to all the mobile users. The bank also said that at present the service can be availed by the customers of Nepal Telecom only, by free registration from all BOK branches."

NuMobile Acquires Kenyan Startup To Enter Africa’s Mobile Banking Market
"NuMobile, Inc. today announced the acquisition of Kruze Technologies Ltd, a mobile wallet operation headquartered in Nairobi, Kenya. NuMobile has scheduled an on-demand Webcast to be released next Tuesday, December 7th to present the Company’s African mobile banking strategy and to provide an overview of the acquisition announced today and of the pending acquisition expected to close imminently."

The push and pull of mobile banking
"Preventing money laundering, eliminating informal foreign remittance inflows and promoting savings among rural people have driven the theme of “financial inclusion” worldwide. Financial inclusion aims to include more people in the banking process. In Bangladesh, where only 13 percent of the population has a bank account and 33 percent a mobile phone, relevant parties are considering using mobile phones to deliver banking to the unbanked. In such initiatives, bank-nominated agents perform banking activities, including opening a mobile bank account and providing cash."

Mobile Banking Updates - Nov 16th

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

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

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

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

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