Jeff Salway: Banking bandwagon not such a safe ride
"I WAS recently accused by a friend – a self-confessed geek – of being scared of new technology; I prefer to believe I’m just too cynical to jump on the latest high-tech bandwagon.
That includes mobile banking, which is one bandwagon the banks would very much like us all to leap on to, and in this case my cynicism may be more than justified.
Mobile banking refers to the use of mobile phones and other handheld devices, such as tablets, to make payments, transfer money, check statements and so on. The UK is lagging behind in this area, but our banks are eager to catch up and are ploughing millions into mobile banking development."
Banker beware: SIM swapping con targets mobile accounts
"It's amazing in its own way — despite constant warnings from their financial institutions to never, ever provide sensitive information by phone or email, customers continue to do just that.
That dynamic, whether caused by gullibility or laziness, has only helped scammers, who've been perfecting their craft since time immemorial.
One of the latest cons is SIM swapping, which is the second phase of a phishing scam. Though not as profitable as large-scale hacking and skimming, it appeals to criminal gangs looking for a low-cost, low-risk, high-reward, EMV-circumventing racket."
USERNAME AND PASSWORD AUTHENTICATION BORDERS ON NEGLIGENCE IN MOBILE BANKING
"Earlier this week the Financial Conduct Authority announced that it will be publishing a full report in to mobile banking early next year, by revealing its initial findings and the potential risks to consumers concerning fraud, cybercrime and user error. In an article published by the BBC, the Director of Supervision at the FCA, Clive Adamson, states that: 'With the market growing, now is the right time for us to take stock and, as part of the FCA’s forward looking approach, to ensure that consumers are appropriately protected.'”
New 'Hesperbot' bank Trojan targets mobile authentication systems
"Security firm ESET is warning of an ambitious new banking Trojan designed to beat the mobile multi-factor authentication systems rolled out to defeat an older generation of malware.
Named Spy.Hesperbot after its discovery in Mid-August, the Trojan comes with the usual tricks such as keylogging, video capture and html injection but adds cleverness in the form of a remote control VNC server and a mobile app for Symbian, Blackberry or Android smartphones."
UK mobile payments held back by security and complexity
"With only one in five UK consumers using their mobile to make payments, new research suggests that the technology is being held back by consumer fears over security, lengthy sign-up processes and problems making payments outside of individual schemes.
Mobile payments specialist firm Zapp carried out a survey of 2,000 UK consumers, and found that 17% of them had made a mobile payment. Of these, some 60% were limited to simple bank transfers between accounts, rather than paying for goods and services. Of those making payments, one in five said there are not enough people and places to make payments and 18% said it was difficult to pay people who don’t use the same mobile payment system."
Wednesday, September 11, 2013
Tuesday, September 10, 2013
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."
"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."
Sunday, September 8, 2013
Mobile Banking Updates - Sept 8
Wells Fargo mobile guru Steve Ellis to keynote TabletBiz conference & expo
"The tablet event of the year kicks off November 13 in New York with the executive who helped Wells Fargo transition into online and mobile banking. Steve Ellis is a bit of a mobile guru when it comes to mobile banking. The fast pace of Wells Fargo’s early move into online and mobile financial services, including tablets was due in large part to his commitment to fostering workplace creativity. Ellis is executive vice president and group head of the Wells Fargo Wholesale Services Group, the commercial side of the company that includes commercial loan services, customer analytics, risk management, and mobile and social media strategies. Ellis was instrumental in launching Wells Fargo’s Commercial Electronic Office (CEO) Internet portal in 2000."
6 Tips for Safer Smartphone Banking
"More than half of American adults have a smartphone today, and more of us are using them to check balances, pay bills, deposit checks and conduct other banking business. A March report from the Federal Reserve found that slightly more than a quarter of cell-phone owners and nearly half of smartphone owners use their devices for banking, and that number is only expected to grow. Mobile banking can be a great time-saver, but it also presents the risk that you could have sensitive account data — and by extension, your money — stolen if you’re not careful."
New perks make banking easier
"Paying your bills and taking care of other banking chores is a pain. Even more painful: the fees you’ll face if you don’t do them when you need to. But here’s good news from ShopSmart, the shopping magazine from the publisher of Consumer Reports: Banks have introduced five services that make those tasks easier and more rewarding."
moTwin Announces Round of Funding, Adds New Investor
"French enterprise mobile app developer moTwin has closed an additional $2.7M in financing from new investor Sigma Gestion, as well as previous partners Seventure Partners and Naxicap Partners. This brings the total capital raised by moTwin to $7.3M, underscoring the opportunity for unique technology that can bridge user experience and cloud integration in mobile apps. The new funds will be used for international expansion, including adding additional sales and support resources to its Palo Alto office."
Black Hills Federal Credit Union Updates Digital Banking Experience with Corillian Online and Mobiliti from Fiserv
"Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Black Hills Federal Credit Union (Black Hills), a nearly $1 billion credit union based in South Dakota, has significantly enhanced its digital banking services for its 58,000 members. As part of an overhaul of its digital brand, including its website and online and mobile banking capabilities, Black Hills deployed Corillian Online® and Mobiliti™ from Fiserv, along with several complementary solutions."
RBS Citizens Tops In Mobile Banking Ratings
"Mobile banking apps from RBS Citizens Bank, based in Providence, came in tops with customers in surveys by Xtreme Labs and Javelin. The bank’s iOS app came in at the highest score with 4.5 stars and 93 percent favorable review and its Android app placed second, just behind USAA, with 4.5 stars and 97 percent good reviews."
Big Data and Payments Drive Loyalty in Business Banking.
"In the 'consumer edition' of the blog I suggested that banks can reinvigorate their payments brand and influence customer loyalty by integrating incentives and offers to their payments solutions. The premise is that banks are missing out on an opportunity to become more influential in where people shop and what they buy, rather than just how they pay. Offers can be driven by analytics into a combination of historical payments information and big data analysis of demographics, location positioning and peer group analysis. Such a strategy requires more than an offers solution, or a mobile banking app."
"The tablet event of the year kicks off November 13 in New York with the executive who helped Wells Fargo transition into online and mobile banking. Steve Ellis is a bit of a mobile guru when it comes to mobile banking. The fast pace of Wells Fargo’s early move into online and mobile financial services, including tablets was due in large part to his commitment to fostering workplace creativity. Ellis is executive vice president and group head of the Wells Fargo Wholesale Services Group, the commercial side of the company that includes commercial loan services, customer analytics, risk management, and mobile and social media strategies. Ellis was instrumental in launching Wells Fargo’s Commercial Electronic Office (CEO) Internet portal in 2000."
6 Tips for Safer Smartphone Banking
"More than half of American adults have a smartphone today, and more of us are using them to check balances, pay bills, deposit checks and conduct other banking business. A March report from the Federal Reserve found that slightly more than a quarter of cell-phone owners and nearly half of smartphone owners use their devices for banking, and that number is only expected to grow. Mobile banking can be a great time-saver, but it also presents the risk that you could have sensitive account data — and by extension, your money — stolen if you’re not careful."
New perks make banking easier
"Paying your bills and taking care of other banking chores is a pain. Even more painful: the fees you’ll face if you don’t do them when you need to. But here’s good news from ShopSmart, the shopping magazine from the publisher of Consumer Reports: Banks have introduced five services that make those tasks easier and more rewarding."
moTwin Announces Round of Funding, Adds New Investor
"French enterprise mobile app developer moTwin has closed an additional $2.7M in financing from new investor Sigma Gestion, as well as previous partners Seventure Partners and Naxicap Partners. This brings the total capital raised by moTwin to $7.3M, underscoring the opportunity for unique technology that can bridge user experience and cloud integration in mobile apps. The new funds will be used for international expansion, including adding additional sales and support resources to its Palo Alto office."
Black Hills Federal Credit Union Updates Digital Banking Experience with Corillian Online and Mobiliti from Fiserv
"Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Black Hills Federal Credit Union (Black Hills), a nearly $1 billion credit union based in South Dakota, has significantly enhanced its digital banking services for its 58,000 members. As part of an overhaul of its digital brand, including its website and online and mobile banking capabilities, Black Hills deployed Corillian Online® and Mobiliti™ from Fiserv, along with several complementary solutions."
RBS Citizens Tops In Mobile Banking Ratings
"Mobile banking apps from RBS Citizens Bank, based in Providence, came in tops with customers in surveys by Xtreme Labs and Javelin. The bank’s iOS app came in at the highest score with 4.5 stars and 93 percent favorable review and its Android app placed second, just behind USAA, with 4.5 stars and 97 percent good reviews."
Big Data and Payments Drive Loyalty in Business Banking.
"In the 'consumer edition' of the blog I suggested that banks can reinvigorate their payments brand and influence customer loyalty by integrating incentives and offers to their payments solutions. The premise is that banks are missing out on an opportunity to become more influential in where people shop and what they buy, rather than just how they pay. Offers can be driven by analytics into a combination of historical payments information and big data analysis of demographics, location positioning and peer group analysis. Such a strategy requires more than an offers solution, or a mobile banking app."
Thursday, September 5, 2013
Mobile Banking Updates - Sept 5
Tablet Banking Taking Off Among Fiserv Bank and Credit Union Clients
"New tablet app includes robust functionality including bill payments, person-to-person payments and mobile deposit --More than 100 institutions already committed to deploy Mobiliti: Tablet to meet growing consumer interest in tablet banking Fiserv, Inc. FISV +0.15% , a leading global provider of financial services technology solutions, today announced the launch of Mobiliti(TM): Tablet, a turnkey ASP solution tailored for tablet users. Mobiliti: Tablet joins the company's existing licensed solution for tablet banking, enabling additional banks and credit unions to support this rapidly growing channel. Interest in the Mobiliti: Tablet app has been strong among Fiserv clients, with more than 100 banks and credit unions already committed to deploy the solution."
Newsbyte: SAP® Mobile Banking Solution Recognized by Juniper Research for Future Mobile Award
"SAP NEWSBYTE -- SAP AG (NYSE: SAP) today announced that the SAP® Mobile Banking solution has received the "2013 Mobile Banking Award" in Juniper Research's Future Mobile Awards for Mobile Commerce. SAP also received high commendations for solutions related to mobile consumer payments and mobile coupons."
Cachet Financial Solutions Partners With Nitro Mobile Solutions to Integrate Cachet's Remote Deposit Capture (RDC) Platform in Its Mobile Banking Application
"Cachet Financial Solutions, a leading provider of remote deposit capture solutions (RDC), has announced today that it has partnered with Nitro Mobile Solutions, a company that delivers mobile banking solutions to financial institutions, to fully integrate mobile deposit in Nitro's mobile banking application. By including this key service as an integrated part of Nitro Mobile Deposit™, financial institutions can offer their members and customers the convenience of mobile deposit without the need to download a separate mobile app."
Perfecto Mobile Helps Financial Institutions Cash In on Mobile Application Strategy
"Perfecto Mobile, provider of the MobileCloud(TM) Platform and integrated mobile application quality suite, today announced a significant uptick within the banking and financial services sector, tripling its growth in this segment year over year and signing four of the top five U.S. banks as customers."
Alkami and ZAG Interactive Partner to Provide Elegant and Engaging Online/Mobile Banking
"ZAG is an award-winning designer, developer and marketer of websites for financial institutions as well as clients across multiple industries. Alkami provides online and mobile banking solutions for credit unions and banks. 'We’re excited about the opportunity to partner with an industry leader of Alkami’s caliber,' said Larry Miclette, president and CEO of ZAG. 'We’re impressed by their digital solutions and eager to combine our design, development and marketing strengths with the power of Alkami’s technology to provide leading-edge online experiences for our clients’ audiences.'”
Banking Companies SWOT Analysis and 2013 Profile Reports Available at RnRCompanyProfiles.com
"The Miyazaki Taiyo Bank, Ltd. (Miyazaki Taiyo Bank) operates as a regional bank in Japan. It was formerly known as Miyazaki Mutual Bank, Ltd. The bank offers loans, deposits, domestic and foreign exchange transactions, and other banking related services. It also credit assurance services including general leasing and personal loans. In addition, the bank provides accounting, consolidation, collection and delivery of cash. Furthermore, it is involved in the venture capital businesses. "
"New tablet app includes robust functionality including bill payments, person-to-person payments and mobile deposit --More than 100 institutions already committed to deploy Mobiliti: Tablet to meet growing consumer interest in tablet banking Fiserv, Inc. FISV +0.15% , a leading global provider of financial services technology solutions, today announced the launch of Mobiliti(TM): Tablet, a turnkey ASP solution tailored for tablet users. Mobiliti: Tablet joins the company's existing licensed solution for tablet banking, enabling additional banks and credit unions to support this rapidly growing channel. Interest in the Mobiliti: Tablet app has been strong among Fiserv clients, with more than 100 banks and credit unions already committed to deploy the solution."
Newsbyte: SAP® Mobile Banking Solution Recognized by Juniper Research for Future Mobile Award
"SAP NEWSBYTE -- SAP AG (NYSE: SAP) today announced that the SAP® Mobile Banking solution has received the "2013 Mobile Banking Award" in Juniper Research's Future Mobile Awards for Mobile Commerce. SAP also received high commendations for solutions related to mobile consumer payments and mobile coupons."
Cachet Financial Solutions Partners With Nitro Mobile Solutions to Integrate Cachet's Remote Deposit Capture (RDC) Platform in Its Mobile Banking Application
"Cachet Financial Solutions, a leading provider of remote deposit capture solutions (RDC), has announced today that it has partnered with Nitro Mobile Solutions, a company that delivers mobile banking solutions to financial institutions, to fully integrate mobile deposit in Nitro's mobile banking application. By including this key service as an integrated part of Nitro Mobile Deposit™, financial institutions can offer their members and customers the convenience of mobile deposit without the need to download a separate mobile app."
Perfecto Mobile Helps Financial Institutions Cash In on Mobile Application Strategy
"Perfecto Mobile, provider of the MobileCloud(TM) Platform and integrated mobile application quality suite, today announced a significant uptick within the banking and financial services sector, tripling its growth in this segment year over year and signing four of the top five U.S. banks as customers."
Alkami and ZAG Interactive Partner to Provide Elegant and Engaging Online/Mobile Banking
"ZAG is an award-winning designer, developer and marketer of websites for financial institutions as well as clients across multiple industries. Alkami provides online and mobile banking solutions for credit unions and banks. 'We’re excited about the opportunity to partner with an industry leader of Alkami’s caliber,' said Larry Miclette, president and CEO of ZAG. 'We’re impressed by their digital solutions and eager to combine our design, development and marketing strengths with the power of Alkami’s technology to provide leading-edge online experiences for our clients’ audiences.'”
Banking Companies SWOT Analysis and 2013 Profile Reports Available at RnRCompanyProfiles.com
"The Miyazaki Taiyo Bank, Ltd. (Miyazaki Taiyo Bank) operates as a regional bank in Japan. It was formerly known as Miyazaki Mutual Bank, Ltd. The bank offers loans, deposits, domestic and foreign exchange transactions, and other banking related services. It also credit assurance services including general leasing and personal loans. In addition, the bank provides accounting, consolidation, collection and delivery of cash. Furthermore, it is involved in the venture capital businesses. "
Wednesday, September 4, 2013
International Mobile Banking Updates - Sept 4
Mozido Eyes Caribbean Mobile-Money Roll-Out
"With at least one tangible project in the works in Jamaica, Kavin Hewitt, CEO of Mozido Jamaica Limited, says the company will use expertise developed over the last three years to execute a Caribbean roll-out of mobile banking services and other products. The company is the technology partner to Jamaica Cooperative Credit Union League on JCUES, the first private mobile-money product to be approved by the central bank."
YellowPepper secures $15M in funding, now based in Miami
"A Latin American tech company is planting itself in South Florida — and has a fresh round of funding to grow on. YellowPepper, which provides mobile-banking and payment solutions in the region and recently moved to Miami, announced it has received $15 million in venture funding. The Series C fund-raising round, which brings the total venture funding to $30 million, was led by Latin Idea Ventures, and included IFC/World Bank and other investors. Serge Elkiner, YellowPepper’s CEO and co-founder, said the funding will be used to sharpen its new focus on the mobile payments industry and initially launch into four key markets: Colombia, Mexico, Ecuador and Peru."
Bank of Scotland boss targets brand 'magic'
"Robin Bulloch, appointed to the role in January this year and with more than three decades of banking experience, says he wants to reclaim the "magic" the brand has had in the past and separate it from the HBOS legacy in the minds of the public. He indicated Bank of Scotland is keen to present a modern front and use technology to help customers but recognises many of its patrons still prefer to use one of its 294 branches."
UAB launches mobile banking app
"United Arab Bank (UAB), a key lender based in Sharjah, said it has introduced a free mobile banking app allowing its customers to have secure and easy access to manage their accounts whilst on the move. Established in 1975 as a joint venture between UAE investors and Societe Generale, UAB presently has a network of 20 branches and offices spread across the UAE."
Indian banks to increase IT spend by 13%
"Indian banks and investment firms will spend 13% more on IT in 2013 compared to last year with IT services the largest segment, according to research from Gartner. Indian banking and securities companies will spend about 417bn INR on IT in 2013 compared to 369bn INR in 2012. The IT services spend will account for 131bn INR. This represents an 18% increase driven by a strong focus on the finance sector from IT service providers."
Mobile Money Can Be Used In Regular Transactions – Analyst
"Speaking on Channels Television Business Morning, Mr. Okoli explained that mobile money is different from mobile banking. He mentioned that mobile banking, money is still in the bank account but the use of mobile phone is needed while mobile money the money is in an E-account which is tied to the phone. He mentioned the benefits of mobile money stating that it can be used in regular transaction, transferring of money just like the regular transactions."
"With at least one tangible project in the works in Jamaica, Kavin Hewitt, CEO of Mozido Jamaica Limited, says the company will use expertise developed over the last three years to execute a Caribbean roll-out of mobile banking services and other products. The company is the technology partner to Jamaica Cooperative Credit Union League on JCUES, the first private mobile-money product to be approved by the central bank."
YellowPepper secures $15M in funding, now based in Miami
"A Latin American tech company is planting itself in South Florida — and has a fresh round of funding to grow on. YellowPepper, which provides mobile-banking and payment solutions in the region and recently moved to Miami, announced it has received $15 million in venture funding. The Series C fund-raising round, which brings the total venture funding to $30 million, was led by Latin Idea Ventures, and included IFC/World Bank and other investors. Serge Elkiner, YellowPepper’s CEO and co-founder, said the funding will be used to sharpen its new focus on the mobile payments industry and initially launch into four key markets: Colombia, Mexico, Ecuador and Peru."
Bank of Scotland boss targets brand 'magic'
"Robin Bulloch, appointed to the role in January this year and with more than three decades of banking experience, says he wants to reclaim the "magic" the brand has had in the past and separate it from the HBOS legacy in the minds of the public. He indicated Bank of Scotland is keen to present a modern front and use technology to help customers but recognises many of its patrons still prefer to use one of its 294 branches."
UAB launches mobile banking app
"United Arab Bank (UAB), a key lender based in Sharjah, said it has introduced a free mobile banking app allowing its customers to have secure and easy access to manage their accounts whilst on the move. Established in 1975 as a joint venture between UAE investors and Societe Generale, UAB presently has a network of 20 branches and offices spread across the UAE."
Indian banks to increase IT spend by 13%
"Indian banks and investment firms will spend 13% more on IT in 2013 compared to last year with IT services the largest segment, according to research from Gartner. Indian banking and securities companies will spend about 417bn INR on IT in 2013 compared to 369bn INR in 2012. The IT services spend will account for 131bn INR. This represents an 18% increase driven by a strong focus on the finance sector from IT service providers."
Mobile Money Can Be Used In Regular Transactions – Analyst
"Speaking on Channels Television Business Morning, Mr. Okoli explained that mobile money is different from mobile banking. He mentioned that mobile banking, money is still in the bank account but the use of mobile phone is needed while mobile money the money is in an E-account which is tied to the phone. He mentioned the benefits of mobile money stating that it can be used in regular transaction, transferring of money just like the regular transactions."
Tuesday, September 3, 2013
Mobile Banking Updates - Sept 3
How City Bank Gets New Mobile Banking Ideas to Market First
"Jim Simpson, CTO of City Bank Texas, explains how and why his community bank has been the first U.S. bank to go live with several new mobile banking tools."
Mobile banking catching on, especially with women
"We all, in varying degrees, are more and more living our lives on the go. So, things such as personal contact with your favorite bank manager or flirting with the cute teller at your financial establishment’s drive-thru window are becoming a thing of the past. According to a recent Pew Research Center study, a majority of adults in the United States bank electronically. And they aren’t just using the walk-up automated teller machines so popular in days past."
The age of mobile banking
"Faced with increasing challenges such as RBI regulations, demanding customers and recession over the past few years, the banking industry has been under considerable pressure to improve customer experience and reduce operating cost. They have responded to the market challenge by moving to a client-centric model by introducing innovative technologies to cater to the customer ranging from ATMs, SMS Banking, USSD banking etc."
Grandma Wants Online Billpay
"It’s a fallacy to assume seniors don’t want to use digital channels for banking. They just prefer to use personal computers over mobile devices. Low fees and convenient branch locations are the primary drivers for which accounts they select. Grandma might use her mobile phone to send and receive text messages from her grandkids, but she’s much less likely to want to use it to check bank balances or do other banking activities. She prefers completing those tasks at home in front of her desktop computer."
Using Mobile Tech to Solve Old-School Problem: Ordering Checks
"City Bank Texas has added a feature to its mobile banking app that further distinguishes the Lubbock community bank from its competitors: the ability to order checks. The app already includes a number of atypical capabilities that let people turn their debit cards on and off, increase their daily ATM withdrawal limit, unblock foreign transactions and pay bills using the smartphone's camera."
3 On Your Side: New Wave of Mobile Banking
"It’s the next wave of mobile banking. Not just paying your bills — but paying your friends right from your phone. 3 On Your Side consumer reporter Jim Donovan explains how banking on-the-go is getting faster and easier. It’s clear money has gone mobile. People trade, pay bills and deposit checks from their phones. But how about splitting the check for dinner, paying the baby-sitter or the neighborhood kid to mow your lawn, simply by using your phone? No cash, no checks required."
"Jim Simpson, CTO of City Bank Texas, explains how and why his community bank has been the first U.S. bank to go live with several new mobile banking tools."
Mobile banking catching on, especially with women
"We all, in varying degrees, are more and more living our lives on the go. So, things such as personal contact with your favorite bank manager or flirting with the cute teller at your financial establishment’s drive-thru window are becoming a thing of the past. According to a recent Pew Research Center study, a majority of adults in the United States bank electronically. And they aren’t just using the walk-up automated teller machines so popular in days past."
The age of mobile banking
"Faced with increasing challenges such as RBI regulations, demanding customers and recession over the past few years, the banking industry has been under considerable pressure to improve customer experience and reduce operating cost. They have responded to the market challenge by moving to a client-centric model by introducing innovative technologies to cater to the customer ranging from ATMs, SMS Banking, USSD banking etc."
Grandma Wants Online Billpay
"It’s a fallacy to assume seniors don’t want to use digital channels for banking. They just prefer to use personal computers over mobile devices. Low fees and convenient branch locations are the primary drivers for which accounts they select. Grandma might use her mobile phone to send and receive text messages from her grandkids, but she’s much less likely to want to use it to check bank balances or do other banking activities. She prefers completing those tasks at home in front of her desktop computer."
Using Mobile Tech to Solve Old-School Problem: Ordering Checks
"City Bank Texas has added a feature to its mobile banking app that further distinguishes the Lubbock community bank from its competitors: the ability to order checks. The app already includes a number of atypical capabilities that let people turn their debit cards on and off, increase their daily ATM withdrawal limit, unblock foreign transactions and pay bills using the smartphone's camera."
3 On Your Side: New Wave of Mobile Banking
"It’s the next wave of mobile banking. Not just paying your bills — but paying your friends right from your phone. 3 On Your Side consumer reporter Jim Donovan explains how banking on-the-go is getting faster and easier. It’s clear money has gone mobile. People trade, pay bills and deposit checks from their phones. But how about splitting the check for dinner, paying the baby-sitter or the neighborhood kid to mow your lawn, simply by using your phone? No cash, no checks required."
Monday, September 2, 2013
Mobile Banking Security - Sept 2
Mobile banking risks revealed by FCA
"Fraud and mistakes on fiddly keypads could create problems for people who use banking services on their mobile phones, a regulator has said. Consumers transferring money should be careful to enter correct details on the smaller keypads, the Financial Conduct Authority (FCA) said. They might also be using mobile banking late at night, which could affect their concentration when moving funds. The FCA is studying the potential risks to customers of mobile banking."
Cyber criminals crack two-factor bank authentications
"Users who swear by online banking are in for a shock as the McAfee Threats Report: Second Quarter 2013 has divulged details about a banking malware that helps cyber criminals steal SMSes to get access to people’s accounts. The research also brings to light some entertainment and dating applications which are actually meant to carry out data theft. And a significant number of ransomware samples have also been found. As many as 3,20,000 of these were unearthed in the first two quarters of 2013."
Mobile Threat Monday: Nasty Adware And A Master Key Mystery
"This week, Mobile Threat Monday looks at two of the biggest concerns for Android right now: adware and the so-called Android master key. Both have grabbed lots of headlines on SecurityWatch and with good reason. Careful readers will recall that the Android master key is an exploit that allows a malware creator to spoof the digital certificate of a different Android app. The upshot is that an attacker could create a malicious Trojan app that mimics a legitimate app, and pass off the malware as the genuine article."
Warning on mobile banking fraud risk
"Mobile banking users have been urged to take greater care when downloading applications that allow them to access their accounts on the go. The City watchdog has launched a review into the fraud risks associated with mobile banking and payments as take-up of the technology grows."
McAfee has released data that shows that these are the largest concerns in the current wireless environment.
"According to a report that was just released by McAfee Labs, “backdoor” Trojans and banking malware, which steal information from a device without the awareness of the victim, were the greatest threats to smartphone and tablet users during the second quarter of 2013."
Mobile Trojan Defeats Dual Authentication
"A new cross-device mobile Trojan that already has targeted online-banking customers has been linked to the same group that waged the successful High Roller attacks last summer. So far, customers of several top-tier institutions in Northern Europe and a handful in the U.S. have been victimized. The attackers behind the malware are believed to be Russian."
"Fraud and mistakes on fiddly keypads could create problems for people who use banking services on their mobile phones, a regulator has said. Consumers transferring money should be careful to enter correct details on the smaller keypads, the Financial Conduct Authority (FCA) said. They might also be using mobile banking late at night, which could affect their concentration when moving funds. The FCA is studying the potential risks to customers of mobile banking."
Cyber criminals crack two-factor bank authentications
"Users who swear by online banking are in for a shock as the McAfee Threats Report: Second Quarter 2013 has divulged details about a banking malware that helps cyber criminals steal SMSes to get access to people’s accounts. The research also brings to light some entertainment and dating applications which are actually meant to carry out data theft. And a significant number of ransomware samples have also been found. As many as 3,20,000 of these were unearthed in the first two quarters of 2013."
Mobile Threat Monday: Nasty Adware And A Master Key Mystery
"This week, Mobile Threat Monday looks at two of the biggest concerns for Android right now: adware and the so-called Android master key. Both have grabbed lots of headlines on SecurityWatch and with good reason. Careful readers will recall that the Android master key is an exploit that allows a malware creator to spoof the digital certificate of a different Android app. The upshot is that an attacker could create a malicious Trojan app that mimics a legitimate app, and pass off the malware as the genuine article."
Warning on mobile banking fraud risk
"Mobile banking users have been urged to take greater care when downloading applications that allow them to access their accounts on the go. The City watchdog has launched a review into the fraud risks associated with mobile banking and payments as take-up of the technology grows."
McAfee has released data that shows that these are the largest concerns in the current wireless environment.
"According to a report that was just released by McAfee Labs, “backdoor” Trojans and banking malware, which steal information from a device without the awareness of the victim, were the greatest threats to smartphone and tablet users during the second quarter of 2013."
Mobile Trojan Defeats Dual Authentication
"A new cross-device mobile Trojan that already has targeted online-banking customers has been linked to the same group that waged the successful High Roller attacks last summer. So far, customers of several top-tier institutions in Northern Europe and a handful in the U.S. have been victimized. The attackers behind the malware are believed to be Russian."
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