International Mobile Banking Updates - Jan 10

Vietnam prepares for mobile banking push
"Vietnamese payment switch operator Smartlink has called in Singaporean vendor Tagit to help it build a mobile banking service. Tagit says that its Mobeix platform will be available to over 40 million card holders belonging to Smartlink's more than 50 member banks."

Asian corporates slow to adopt mobile banking despite consumer success
"The use of mobile phones to access account information has been gaining some level of popularity among retail consumers. Yet, despite the plausibility of scenarios drawn up by banks and the unambiguity of research results, an Asian response from corporate clients has yet to materialize. In 2007, North American Wells Fargo decided to introduce the service to its corporate clients as well – the first to do so among all the major banks. While many of its peers quickly drew up plans to jump on the bandwagon, the financial crisis refocussed their attention on more pressing issues."

Mobile Banking Use in U.S. Soars, Still Far Behind South Korea, India
"We learn that and much more from the latest Customer Loyalty in Retail Banking report just released by Bain & Company, a consultancy. The researchers have looked into 14 markets around the world and have surveyed 5,200 American consumers to gauge their traditional banking habits and attitudes toward newer channels, such as mobile banking. The report is full of interesting data, so I thought I should give you the bits and pieces I found most revealing of the current state of mobile banking in the U.S. I do, however, strongly encourage those of you who are in the m-payments industry to review the whole paper—there is a lot to be learned in it."

International Mobile Banking Updates - Jan 1

Tagit, Smartlink launch mobile banking service in Vietnam
"Singapore-based mobile technology company Tagit in collaboration with Vietnamese payment switch operator Smartlink has introduced aggregated mobile banking service, which will benefit 51 banks in Vietnam and millions of mobile users. The partnership is expected to provide new growth opportunities for the mobile payments ecosystem. More than 40 million domestic bankcard holders and 120 million mobile users will be benefited when Smartlink jointly will implement mobile services with its member banks across the country."

Mobile banking accounts touch 1.8 million mark
"Mobile banking accounts have jumped to 1.8 million mark depicting a remarkable growth of 25 percent during July-September 2012, according to Branchless Banking (BB) Newsletter by the State Bank of Pakistan (SBP) on Wednesday. The BB customers conducted almost 31.5 million transactions worth Rs 139 billion during the quarter. The average size of each transaction was Rs 4,420 while the average number of transaction per day increased to 0.349 million."

Norwegian bank mobile banking app attracts 10% of customers upon launch
"Norwegian bank Sparebanken Vest has revealed one in every ten of its online customers are now using its mobile banking application, following its launch on 4 October, with more than 500 new registrants joining every day. Sparebanken Vest uses Encap’s Software-as-a-Service (SaaS) two-factor security authentication tool for its mobile banking app, which delivers a simple and easy registration and login process, aiding uptake along wide the convenience factor of being able to bank on the move."