Mobile Banking Updates - May 31

Mobile Banking: American Express and Chase offer receipt management
"The task of organizing receipts for business expenses can be overwhelming and time-consuming endeavor. American Express and Chase have found a way to make this task easier for small business owners who may need to organize receipts for bookkeeping or tax purposes, by allowing them to manage their receipts online and on-the-go."

Banking Consultant Nuciforo: Google Is 'Biggest Threat' to Banking Industry
"Google is threatening to disrupt the banking industry in a big way. Its products, including Search, Shopping, Offers and Wallet, are a virtual slap in the face for banks and PayPal when they are integrated with Google Glass. Combined with Google Glass, they could be a knock out punch, writes banking consultant Michael Nuciforo in an article for American Banker."

International Mobile Banking Updates - May 30

Mobile banking on USSD likely to get delayed
"Full-scale mobile banking services over the Unstructured Supplementary Service Data (USSD) platform, a text message-based interactive backbone could hit a roadblock with both GSM and CDMA operators at loggerheads with the National Payments Corporation of India (NPCI) on the revenue-sharing model."

Bank Muscat’s mBanking wins best mobile payment app in ME award
"Bank Muscat, the flagship financial services provider in the Sultanate, has won the ‘Best Mobile Payment Application in the Middle East’ award for its state-of-the-art mBanking mobile services. The prestigious award was received by Tariq Atiq, AGM — Cards & eBanking, at a ceremony held in Dubai as part of the Cards & Payments 2013 Middle East seminar, which is reckoned the largest cards payment and identification event in the Middle East."

Mobile banking changing Africa’s financial landscape
"COMMUNICATIONS technology is reshaping Africa with more people on the continent using their mobile phone to bankthan in any other region in the world, reports Africa in Fact. It says mobile phone technology is especially useful in banking where many people live in rural areas far from cities where most banks are located. Kenya is the global model for this innovative use of mobile banking technology but the report notes, the potential for mobile banking in Nigeria is immense, mostly because of the size of its population (Africa's largest), and the size of its unbanked population."

Leading Vietnamese Bank Reaches New Clients with IBM Smarter Computing
"At today's (NYSE: IBM) Technology Conference and Exhibition in Hanoi, IBM announced that Saigon Hanoi Commercial Joint Stock Bank, one of the leading commercial banks in Vietnam, has turned to IBM Systems and Software to streamline business processes across its IT infrastructure and enable broader client reach through new online and mobile banking services."

Mobile banking remains “promising land” for banks
"Experts believe that mobile banking would enter the hot development period in the time to come, when the number of smart phone users increases rapidly. A report says that 50 percent of the mobile phones to be sold in the future would be smart phones. Le Thanh Tam, Chief Executive Officer of IDG ASEAN said he can see the great potentials for developing electronic payment, believing that 98 percent of Vietnamese would use mobile banking services in the next five years."

Second RBS apology for banking app glitch
"RBS has apologised for the second time in two months after customers were unable to log in to their accounts through their mobile phone app. Many customers of the RBS Group, which includes NatWest and Ulster Bank, were unable to use the app for two and a half hours on Friday. A similar problem occurred at the end of March, when the app's users were unable to check their accounts. RBS is 81% owned by the taxpayer. About two million customers have the app."

Mobile Banking Updates - May 29

Director of Cybersecurity Clay Calvert on Mobile Banking Apps
"MetroStar Systems Director of Cybersecurity Clay Calvert was recently interviewed by Medill News about mobile banking security. They were interested in the risks involved with mobile banking technology and whether it should be viewed as secure. In an article by Matt Higgins released on May 16, 2013, Clay was provided his insight."

Mashreq believes Smart Phones need Smart Banking with the launch of Snapp Mobile Banking
"Mashreq plans to tap the rising demand for banking services by mobile phone users with the launch of an enhanced version of its Mobile Banking Service called ‘Snapp’. The current version of the app is available on Apple and Android phones. A version of Snapp will soon be made available to customers on Blackberry10 and Windows8 and tablet based platforms. Registration and usage of this service is simple and free of cost. To add to the convenience, customers can access Mashreq Snapp using their MashreqOnline username and password. There is no requirement to register separately for Mobile Banking. This advanced mobile banking application will provide customers a simple and user-friendly access to their bank accounts from their smartphone."

CR Money Minute: Better smart phone banking security?
"Several major U.S. banks are beta-testing a new way to give you access to your mobile banking account, which could mark the beginning of the end for your password headaches, according to Toby Rush, CEO of EyeVerify, a Kansas City, Kan., technology firm. Rush did not name the banks, citing confidentiality agreements. But he said testing was expected to continue through summer and consumers might see the technology on the market as early as this fall. Wireless carriers are also interested, Rush said."

Vantage Credit Union Launches iPhone Mobile Banking App
"Vantage Credit Union launched its new iPhone mobile banking app, MyMobile, this week on the Apple Store for its members with MyVantage online banking accounts. The free online banking app works anywhere, anytime, to quickly and securely check account balances, view transaction history, transfer funds, pay bills, deposit checks via remote deposit and even activate rewards."

'Hello. I'm on Mount Everest': Mobile banking hits highest peak
"Two mountaineers have set a world record by being the first to use a mobile banking app on Mount Everest. Climbers Horacio Galanti and Horacio Cunietti achieved the feat using Standard Chartered Breeze mobile banking apps during their expedition to summit the highest peak in the world; an altitude of 8,848 metres above sea level."

Mobile Banking Updates - May 27

Consumers Assume Mobile Banking Bill Pay Is Fast, But It Isn’t
"In an effort to generate fee revenue, some banks and credit unions have begun offering expedited bill payment through their online bill pay platform. Auditing a sample of institutions that offered expedited bill payment revealed that none extend this feature to their mobile banking platform. Why not? Wouldn’t you think that when someone pays a bill with their mobile phone, they probably require, expect, or assume the payment to be expedited?"

Reston firm turns to decades-old technology to set up mobile banking in Central Asia
"Not all new ideas for technology have to be, well, new. As the start-ups around it tinkered with the cutting edge, a Reston company called GeoPay stuck by decades-old technology — the same used in messaging systems that led to the earliest cellphones — to create a mobile-banking platform."

ESET Mobile Security scores full marks in banking Trojan test
"ESET Mobile Security has scored full marks for detecting mobile banking Trojans, in a group test conducted by Germany’s AV-TEST , a leading independent security research institute. In a group test of 11 security apps, ESET Mobile Security detected 100% of threats."

PlainPay, MyBank pair up to provide total mobile banking solution
"Virtual multi-channel banking solutions provider Auriga and online payment platform provider MyBank are combining their expertise to create an all-in-one mobile banking and payments app that will enable everything from mobile billpay to cardless ATM withdrawals. The solution will use PlainPay, an Auriga app that allows bank customers to perform nearly all their banking operations via mobile. PlainPay will be integrated with MyBank, the online payment platform promoted by EBA Clearing, which is owned by 64 major banks operating in Europe."

The Next Wave Of Mobile Banking
"In the U.S market today, retail banks offer a standardized mobile banking application. They enable their customers to monitor expenses, transfer funds and pay bills. This provides the convenience and ease of banking for the “on the go” customer. In general, mobile banking is an expanding market and has changed the way customers manage their funds. However, it is arguable that the user experience of each of the retail banks applications is similar. The application allows the end user to view their account balance, transfer funds and pay a multitude of bills."

Aiming To Be The Mobile Banking App To Rule Them All, Numbrs Stashes $7.7M Of Fresh Funding
"Chalk this up as one to watch closely in the world of consumer fintech. Numbrs, a mobile-first banking app founded out of Swiss company builder Centralway, has raised 7.5 million Swiss francs (~$7.7 million) from its parent, capital it will use to build on its pending German launch, with the UK and Swiss markets up next, followed by Singapore and Hong Kong."

Sovereign Bank Enters the Mobile Arena
"Boston-based Sovereign Bank ($85 billion in total assets), a subsidiary of Santander Holdings USA, this month formally rolled out its first mobile banking app after a lengthy process of research and customer surveys. Nuno Matos, managing director of retail banking at Sovereign Bank, says it was important to offer a robust mobile service to customers based on what they wanted out of a mobile app. The app's features include the ability to check account balances and activity including deposits, withdrawals and interest accrued; transfers between accounts; BillPay functions such as scheduling recurring and one-time payments or checking payment status; an ATM/branch locator, and one-touch customer service. It is currently available for Android and Apple devices."

Mobile Banking Updates - May 23

The Next Wave of Mobile Banking
"In the U.S market today, retail banks offer a standardized mobile banking application. They enable their customers to monitor expenses, transfer funds and pay bills. This provides the convenience and ease of banking for the “on the go” customer. In general, mobile banking is an expanding market and has changed the way customers manage their funds. However, it is arguable that the user experience of each of the retail banks applications is similar. The application allows the end user to view their account balance, transfer funds and pay a multitude of bills."

Sovereign launches mobile app
"Sovereign Bank has joined its big bank competitors in the mobile banking world by launching a mobile application for consumer customers that works on Apple and Android devices. The bank said that customers will be able to access account balances, transfers between accounts, bill paying functions, ATM/branch locator and customer service."

Mobile Banking Updates - May 22

Android's Mobile Dominance Fails to Simplify Bank App Development
"Google's Android mobile operating system has grown its market share lead, according to new data from Gartner. Indeed, the research firm says the platform accounts for 74.4% of smartphone units sold worldwide during the first quarter of 2013. Furthermore, Gartner found there are almost 50% more Android smartphones in the market than a year ago."

Chase Tops Keynote's Mobile Banking Ranking a Third Time
"JPMorgan Chase has yet again won a ranking of mobile banking apps. In this one, Keynote's semiannual mobile banking scorecard, Chase came in first for the third time in a row. Wells Fargo came in second and Bank of America third. In late April, Forrester dubbed Chase the best in mobile banking out of 15 large multinational banks, for the second time in a row. What does Chase do right to get the top nod so often?"

Banking Up Launches at FinovateSpring, Lets Any Business Offer Customers a Trusted Alternative to Traditional Banking
"Banking Up launches at FinovateSpring today a first-of-its-kind personal finance platform that lets banks and businesses provide customers with a smart, mobile alternative to traditional checking accounts. Along with the launch, Plastyc Inc., which developed Banking Up, announced that it is now doing business as Banking Up. Over 24 million households have poor access to mainstream banking, and 91 percent have mobile phones and smartphones, according to the FDIC. Banking Up gives banks and businesses a scalable way to provide customers in their local communities with an affordable, high-quality banking option."

Green Dot Sets July 4th Launch Of GoBank
"Green Dot, the provider of prepaid debit cards and other financial products, is looking to launch its big move into the mobile banking market on July 4th, the company said Tuesday afternoon. According to Green Dot, it plans to launch its service, GoBank, on Independence Day on iPhone, Android, and online--and also will be making a big, national push to market the service."

Is electronic banking killing the bank branch? PNC pares branches citing customers' online trends "Another bank branch bites the dust. Three and counting among PNC Financial’s branches in Central Pennsylvania. Another ten PNC branches in Western Pennsylvania. And more to come, as banks evaluate their networks and analyze mobile banking and ATM trends. For so long, it seemed a bank branch was opening on every corner. That era might be coming to an end."

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."