Mobile Banking Updates - Aug 1

What Are the Best and Worst Mobile Banking Apps?
"There’s something perversely satisfying about depositing a check in bed. While in a recumbent position, I’ve been known to whip out my iPhone, launch my bank’s app, snap a photo of the check’s back and front, type in the amount, and boom. My money wings its way into my account while I return to reading Entertainment Weekly on my iPad. Alas, not all mobile banking apps make it that easy. And a new report from Xtreme Labs, entitled the “U.S. Banking Apps Report: Customer Reviews,” shows that some banks are doing are a better job than others with their mobile apps."

FFIEC may be prepping guidance for mobile banking
"The word going around is that the Federal Financial Institutions Examination Council could introduce guidelines on mobile banking security within the next 12 months. But while that particular aspect of mobile payments may be in the regulatory eye, experts do not expect strictures to be more broadly applied."

Mobile Banking Trends: Find Out What is Hot and How to Stay Protected
"The security precautions for smartphone and tablet banking are the same as those for your PC. Smartphones are not inherently more risky, except for one important thing: It’s a heck of a lot easier to lose a phone than a computer. The likeliest way for a hacker to access your bank account information is if they have your phone in their hands. To guard against this, always maintain a password protected system, and if you have to, use security software to wipe the phone clean so valuable data can’t be stolen."

Is Technology Making an Impact in the Banking Industry?
"With TV, music and shopping available with the merest swipe of a screen, it's vital that the banking industry adapts to meet the needs of tech-savvy customers. Considering the focus on the banking industry of late, and the much-talked-about state of the economy, the banking industry's ability to adapt to changing technology could be vital to its recovery from the economic downturn."

More from F.N.B.: mobile banking update
"Earlier this month, I wrote about how F.N.B. Corp.’s online banking tools played into its acquisition strategy. F.N.B. (NYSE:FNB) upgraded its offerings late last year, adding bill payment and remote deposits to its mobile-banking capabilities. Executives talked strategy but were holding off on numbers: I figure CEO Vince Delie might give a progress report during the second-quarter earnings call Wednesday and I was right."

Anywhere/Anytime Access to Online Banking Solutions Driving Increased Uptake of Mobile Platforms, Says ABI Research
"ABI Research forecasts that cumulative online ID and authentication shipments into the banking market vertical will total 1.6 billion in 2018; an increase of 945% when compared to 2012. Cumulative shipments include secure USB tokens, standalone OTP generators, portable smart card readers, and mobile device software applications. Of the 2018 shipment total ABI Research forecasts that mobile software applications will account for 81% of the total 2018, which only accounted for a mere 22% in 2012."

Founders Federal Credit Union Enhances Online, Mobile Banking with Fiserv Solutions
"Fiserv, Inc. (FISV), a leading global provider of financial services technology solutions, today announced that Founders Federal Credit Union (Founders), a $1.6 billion credit union headquartered in Lancaster, S.C., has expanded its relationship with Fiserv in order to enhance its members' digital banking experience. Founders has deployed Corillian Online and Mobiliti from Fiserv to deliver feature-rich online, mobile and tablet banking services."