Mobile Banking Vendors & Research Firms

mFoundry-Powered Mobile Banking Solution Helps Verity CU Serve Members with Apps, Mobile Web and Text
"mFoundry, the fastest-growing mobile banking company in the U.S., announced Verity Credit Union as a customer of its service-based mobile banking platform. Verity Credit Union is the latest credit union to deploy its mBanking solution.

'We were looking for a partner that could deploy mobile banking for us without an arduous on-premise exercise,' said Shari Storm, Chief Marketing Officer, Verity Credit Union. 'mFoundry's excellent deployment track record and their ability to work with our existing online and core processing systems were key factors in our decision process.'"

Meet the Moneyhawks -- Financial Institutions Most Desirable and Profitable Customer Segment
"Javelin Strategy & Research announces its latest research report -- "How to Attract and Keep High-Value 'Moneyhawks': Increase Profitability Through Targeted Multichannel Service Messaging". Javelin identified a market segment known as Moneyhawks who emerged as the most profitable consumer for a Financial Institution. Their high frequency, tech-savvy approach demands and uses a variety of self-service channels and services, including personal finance management (PFM) tools and financial alerts. Javelin identified four distinct segments of consumers, based on their use of and comfort with online and mobile banking, demographic makeup, and tech-buying preferences. The Javelin report, based on surveys conducted with more than 5,100 consumers, shows Financial Institutions (FIs) how to identify, retain and grow these most valuable customers."

Kony Ranked Among Top Mobile Banking Technology Vendors by Tower Group
"Kony, the leading mobile application platform provider, today announced the company has been named a top mobile banking vendor in Tower Group's "Review of North American Consumer Mobile Banking Technology Vendors: Chasing A Moving Target" report."

Webroot Strengthens Its Banking Security Portfolio with Mobile Security
"Webroot, the first Internet security service company, has today announced it is extending mobile security applications to its partners in banking in order to protect their customers who use tablets and smartphones to conduct mobile banking.

The adoption of mobile browsing, social networks, banking and financial transactions increase the threat of phishing and malicious URLs targeting mobile devices. Leveraging Webroot's anti-malware and cloud-based URL scanning technologies, Webroot is now offering banking customers Webroot® Mobile Security for Android to block threats and malicious applications, and to assess the safety of website links before a person clicks on them. Mobile banking security features such as anti-malware, secure browsing, anti-phishing and application profiling will help prevent the theft of online credentials, and protect against mobile payment compromise. Device Locate and Wipe functions will also protect a customer's personal information in the event a mobile device is lost or stolen. Webroot plans to introduce mobile security applications for additional platforms later this year."

Clairmail Reports Record Quarter for Bookings and User Adoption Growth in Q2 2011
"Clairmail, Inc., the leader in mobile banking and payment solutions, today announced the company's continued growth of bookings and user adoption growth, posting its largest quarter on record and further solidifying its position as a market leader servicing over one-third of the top 50 North American Financial Institutions. Additionally, the company posted triple-digit year over year growth in cumulative transactional, user and alert volume. Clairmail is now signing a new mobile user up every 7 seconds, with peak periods recording one user per second."

International Mobile Banking Updates - Aug 9

Barclays Mobile Banking



BNP Paribas and Orange to launch next-generation mobile bank
"BNP Paribas has formed a strategic business partnership with Orange to jointly launch a new, entirely mobile, banking service. The deal between the French banking group and mobile network operator is designed to allow the pair to share expertise in their respective areas of excellence and is believed to be the first of its type in the world."

The popularity of mobile banking in Canada continues to rise: Report
"An analysis of the Canadian online banking sector in Q1 2011 by comScore showed that there were 13.3 million online banking customers across the top Canadian financial institutions who manage checking or savings accounts online. Included in the competitive set for this analysis were the BMO Financial Group, National Bank of Canada (BNC), Canadian International Bank of Commerce (CIBC), Desjardins Group, HSBC, ING Group, President's Choice Financial, Royal Bank of Canada (RBC), Scotiabank and TD Bank."

Africa sprints ahead with mobile banking
"Visa’s recent $110 million purchase of South African mobile financial services infrastructure provider, Fundamo, certainly let the cat out of the bag. While most of the world might still be feeling their way around mobile banking, many African countries are making large strides forward in this space and it seems likely that this is where mobile banking models are going to evolve."

Stakeholders Discuss Mobile Banking Regulatory Framework
"Policy makers, regulators and stakeholders in the banking and telecommunications sectors have met in Accra to discuss and work towards the development and growth of an ideal regulatory regime for the new industry of Mobile Payment System (MPS).

MPS or mobile wallet is an alternative payment method, whereby instead of paying with cash, cheque or credit cards, a consumer can use a mobile phone to pay for a wide range of goods and services."

Mobile Banking Updates - Aug 8

Mobile Pioneers Tell All : 10 Keys to Mobile Banking Success
"With devices based on Google's Android operating system challenging Apple's iPhone, tablet computing on the rise and SMS text messaging overtaking email in popularity, banks of all sizes have scrambled to anticipate and meet customer demands for mobile banking services. Among the banks that got an early start is SunTrust Banks."

A Banking Cloud for 100 Million Customers – 1.7 Billion Mobile Phone Users Can’t Be Wrong
"A cloud service for the banking world is launching with the capability to serve 100 million customers in emerging and established markets.

The service from Polaris Software Labs will allow the Chennai-based financial technology company to offer its infrastructure and banking products on a pay-per-use basis. Polaris built the infrastructure in partnership with IBM and IdenTrust, an identity provider."

Mobile banking: Will you be hacked?
"You're in the store trying on a stunning but outrageously priced shirt. You have to have them, and your hand has already palmed your debit card--but wait! Did your mortgage payment clear your money market account yet?

You could whip out your smart phone and check your balance using your bank's app, and maybe make a quick transfer between accounts. If you access your bank account information on your mobile phone, are you jeopardizing the security of your checking and savings accounts ?"

Mobile Banking Updates - Aug 7

KPMG Report :Banks’ payment revenue may be at risk as the mobile payments value chain evolves
"As payments made from mobile phones and other mobile devices become increasingly popular, many banks around the world are rapidly re-evaluating and evolving their business models. New competition from non-traditional sources such as Apple, Google and PayPal is forcing banks to move quickly in order to preserve their payments revenues and take advantage of emerging mobile platforms, according to a new report from KPMG International."

Mobile Banking Doing More than Just Making You Look Hip
"Sure you may look pretty cool when you swipe your iPhone instead of your MasterCard (News - Alert) to pay for that Caramel Frappuccino Light Blended coffee at Starbucks, but what else can mobile banking do for your image and finances?

Well according to industry experts out there, it can do lots. Bankrate (News - Alert).com recently published an article detailing the five main reasons to use mobile banking services, a trend that is taking the tech space by storm as more than 45 million people are expected to use mobile banking services by 2014 according to Frost & Sullivan (News - Alert). Mobile banking allows for consumer purchases to be made through smartphones."

Mobile Banking Changes Everything, or Nothing
"I've been thinking about mobile delivery a lot in the last few years. Two years ago, I opened presentations with "mobile is the new online." But lately I've changed that line to:

Mobile is a better online

Equating mobile banking to online is selling it short. Really, it's much better than online. I believe that in the not-too-distant future (i.e., 10 years out), we'll come to look at online as an extension of mobile, not the other way around.

Here's why mobile is not only better than online, but also changes everything about remote delivery..."

10 Threats to Your Cellphone’s Security
"Apple and Google came under fire earlier this year for tracking cellphone users’ locations via their mobile operating systems. But as consumers use their phones for banking, shopping and more, there are even more malicious forces interested in that data and other information on your handset."

Mobile Banking Updates - Aug 4

Mitek enabling camera phone image input across dozens of mobile apps
"Mitek Systems’ mobile imaging service has become a big hit with the banks and their customers, allowing a depositor to snap a picture of a check with a camera phone and upload their deposit over the mobile Internet. But Mitek has bigger ambitions for its document image processing platform.

Today, Mitek announced that it was expanding from its mobile banking niche into the cloud, creating a developer program and set of application programming interfaces (APIs) that will allow any developer to build photo document processing into their apps. Mitek believes that the software has huge potential in a myriad of consumer and enterprise markets, handling everything from business card scanning and receipt tracking for business expenses to processing handwritten prescription at online pharmacies and invoicing claims from insurance field agents."

BankAtlantic introduces new app for Android phones
"BankAtlantic has introduced its mobile banking application, or app, for Android platform phones, powered by Intuit Financial Services. According to the company, the application will offer Android phone customers the same mobile banking medium as iPhone users with a suite of seamless features including: View account balances; View recent transactions and transaction history; Transfer funds between accounts; Get GPS guidance to locate the BankAtlantic branch or A location nearest you."

ANZ releases new version of goMoney
"Australia and New Zealand Banking Group (ANZ) has released new version of its iPhone mobile banking app goMoney. According to ANZ the new app version has been updated with BPAY functionality and enhanced features for people who are blind or have low vision. The new version of ANZ goMoney can be downloaded via the App Store."

Leading Mobile Banking Provider Clairmail® Selects Jigsaw Data Cloud to Drive Mobile Banking Success
"Salesforce.com (NYSE: CRM), the enterprise cloud computing (http://www.salesforce.com/cloudcomputing/) company, today announced that Clairmail has deployed the Jigsaw Data Cloud to accelerate its fast-growing mobile banking operations. Clairmail is the leading provider of mobile solutions for banking, with one-third of the top 50 banks in North America using Clairmail's on-demand mobile banking solution."

Technology Credit Union Launches Next Generation Mobile Banking
"Technology Credit Union announced today the launch of its next generation Mobile Banking, which includes native applications for the iPhone, iPad, iPod Touch and Android devices. These new applications make it easier than ever for Tech CU members to check account balances and track activity, transfer funds and pay bills, as well as find the nearest surcharge-free ATM or branch location -- all while on the go. The applications have already been downloaded more than 2,000 times, with the iPhone app scoring a 5-star rating and the Android scoring 4 stars. This next generation of Mobile Banking also includes a new and improved Mobile Browser (WAP) for compatibility with all other smartphones."

Manatee banking on the run
"Convenience, for banking customers, used to mean being able to make a phone call for your balance. About 15 years ago, it evolved to mean the ability to check your accounts on your home computer, 24 hours a day. Today, banking convenience has moved even farther up the continuum of “right here, right now.” Mobile banking, the blanket term for conducting bank inquiries and transactions by mobile phone, enables customers to monitor their money while watching TV, traveling, dining, watching a ball game, or even sitting in the hot tub."

Monitise brings mobile payments to Nigeria
"British technology company Monitise launched a pilot scheme in Nigeria in March this year – and has signed up more than 6,000 people. The scheme highlights the appetite for mobile banking and payments in Nigeria, particularly among the unbanked population and in rural areas where physical banking infrastructure is undeveloped.

There are 90 million adults in Nigeria. Only about 20 million have access to financial services but there are more than 100 million mobile phone subscribers."

Mobile Banking Updates - Aug 2

Smartphone Use Soars, While Mobile Banking Adoption Stalls
"With the explosive growth of smartphone ownership, zooming upwards of 40% since 2010, and constant buzz about such hot new technologies as mobile wallets for payments, financial institutions (FIs) expected that mobile banking growth would continue to skyrocket as well. However, Javelin's data reveals that mobile banking has actually plateaued. The Javelin report, based on surveys conducted with more than 13,000 consumers, examines this surprising trend, identifies the real reasons why more consumers aren't using mobile banking, and presents the steps FIs must take if they want to engage more mobile consumers."

Time to Expand Mobile Beyond Transactions
"Technology changes at an exponential, and rapid, speed that causes many decision makers to overlook its possibilities. Yet mobile and online advances are becoming the “new normal,” so the concern now is that a credit union which lets these banking options pass may be rendered as obsolete quicker than one would think. Credit unions must first be aware, however, that mobile options extend beyond mobile banking on members’ iPhones."

Consumer awareness reigns as main factor in mobile banking: study
"Although mobile has become a vital part of financial institutions’ strategies, many banks are missing the mark by not getting the word out about their mobile options to consumers, according to a study by Mercatus. The study found that the majority of consumers surveyed knew what mobile banking was in general. However, the research found a substantially lower percentage of bank users surveyed knew if their particular bank offered mobile services."

Rosy Predictions Aside, Mobile Payments Boom Still Years off, Experts Say
"As the year progresses, predictions from a year or two ago that mobile payments would take off in 2011 or 2012 seem more and more unrealistic. Payments researchers at accounting and consulting firm KPMG think it’s going to be a few more years, and that near-field communication (NFC) systems embedded in phones ultimately will win as the preferred technology of mobile payments."

Young people choosing mobile banking
"New research shows that more and more young smartphone users in Britain and the United States are managing their finances on their phones. Popular features include checking account balances and viewing transactions, as reported on uk.reuters.com.

The consumer research was commissioned by mobile web and application specialist Antenna. It found that 40% of those who accessed the internet with a mobile phone or tablet computer in the U.S. were using banking services on their mobile devices. Only 25% did so in Britain."

Affluent class using mobiles more than Internet for banking
"Arecent survey by global consulting firm McKinsey and Co. has found that the affluent class in India, categorized as people whose household income is above '10 lakh a year, use mobile phones more than the Internet for their banking needs, even as the use of bank branches is dropping. The survey profiled 20,000 customers from 13 countries, out of which 5,000 were from India--the largest sample size. According to the Asia Personal Financial Services Survey, there was a 338% increase in mobile usage for banking needs compared with a 131% increase in Internet usage over a four-year period."

Mobile Banking Updates - Aug 1

How to Get With the Mobile-Banking Program
"Don't fear mobile banking. More consumers are buying smartphones, but they're not embracing mobile banking at the same pace -- mostly because they have a misplaced fear of it, according to several studies by research firm Javelin Strategy & Research. In 2009, 26% of smartphone owners were uncomfortable using their phones for banking. A year later, that number jumped to 40%, according to the firm."

Is Mobile Banking Right For You?
"The number of customers using mobile banking is soaring. In fact, it’s expected to double in the next four years. Currently, about 38 million Americans use their smart phone to help them take care of their financial affairs. They say they like it because it makes banking easier when they travel, or when they quickly want to check a balance or make a transfer."

Mobile Banking Trend Surges across the Globe
"Move over cloud and converged communications as there is a new big shot trend in the tech space right now – mobile banking.

Mobile banking, which allows for consumer purchases to be made through smartphones, is on its way to becoming the "new norm.” In fact, recent research from TNS (News - Alert) found that more people than ever are turning to their beloved BlackBerrys and Androids to access financial services."

Quantifying the value of mobile banking
"A recent report from KPMG assesses how the global financial community is responding to the adoption of mobile banking and mobile payments. The report is overwhelmingly positive and highlights some interesting points about the rapid developments in this innovative space.

KPMG states that most large banks and many mid-size banks already offer some form of mobile banking service. It supports this with the statistic that almost two thirds of respondents to its survey indicated that mobile banking is either already mainstream or on the verge of gaining traction."

2 out of 5 Mobile Banking Users in Canada Use iPhones
"An analysis of mobile banking in Canada using the recently debuted MobiLens Canada service reveals 11.1 percent of Canadian mobile subscribers accessed banking information in March 2011. Among this group, more than three-fourths were using smartphones. Apple iPhone users accounted for more than 2 out of 5 mobile banking users, followed by RIM BlackBerry users."