Mobile Banking Updates - Mar 15

Mobile Commerce Market Set to Accelerate With NFC Facilitating $74bn Transactions by 2015
"A new study by Juniper Research forecasts that NFC (Near Fields Communications) will facilitate transactions valued at $74bn by 2015 as NFC is increasingly used for the payment of goods in-store and as transport tickets; this is over treble the estimated value of this market in 2011. The increasing use of mobile devices as an alternative to credit cards and paper tickets is one of the fastest growing segments of the mobile commerce market."

MWC2012: Mobile payment for non-banking customers
"UTIBA, one of the worlds largest mobile payment service providers, reviewing mobile banking future trends. $350 billion market expected to expand to $900 billion by 2014."

BBVA Compass First to Allow Mobile Enrollment from an iPhone
"One issue banks have struggled with as they develop mobile banking apps is: how to get new customers on board? Banks generally require customers to be online banking customers before they will allow them to use mobile banking."

Significant Gaps In Mobile Banking Identified By Keynote – Expanded 2012 Mobile Banking Scorecard Results Revealed
"Keynote Competitive Research, the industry analysis group of Keynote® Systems (Nasdaq:KEYN), today announced the expanded 2012 Keynote Mobile Banking Scorecard, first launched in 2011, as a benchmarking standard for the financial and mobile banking industry. The latest Scorecard measures and ranks 15 large retail banks in the United States based on an expanded list of more than 100 criteria in four main categories, developed from consumer research and extensive interviews with practitioners."

Ally Aims to Release Mobile Banking App in April
"For Ally Bank customers, the wait for a mobile banking application is nearly over. The online bank aims to launch the first versions of its highly-anticipated mobile apps in April. 'Although April is later than we’d hoped to get Ally Mobile Banking out to our community, our primary concern is to make sure that our mobile solution handles your finances in a safe, secure manner,' Ally said in a blog post. In October, Ally Bank first announced that mobile apps were coming."

Update: Arvest Mobile Banking App for Android™
"Good news Android users—your Arvest Mobile Banking App is almost here! The new app for Android devices is in the final stages of development and will soon be available in the Android Market™. What should Android users do to be ready for the new app? In order to use the new Arvest Mobile Banking App for Android when it is released, you will need to be enrolled in Arvest Mobile Banking. If you haven’t enrolled yet, you can do so by clicking here and logging into Arvest Online Banking and clicking the Mobile Banking tab."

Many consumers not ready to adopt mobile banking, says survey
"Growth in mobile banking and payments is being driven by younger consumers, but most adults are more reluctant to adopt mobile banking, said a survey cited at cuna.org. In an online survey of 504 U.S. debit cardholders conducted in January, Auriemma Consulting found that younger consumers are more likely to download a mobile-banking app — 43 percent of respondents under 45 had downloaded a mobile app from their financial institution within the previous year, while only about 22 percent of those over 45 had done so."