UK mobile banking increases while cheque usage fades

"The last 12 months saw a significant increase in the use of mobile banking in the UK, while the use of cheques saw a decline. Barclays Bank revealed that registrations for its mobile application rose 200 per cent when compared with figures from 2012, as more customers embrace the use of digital banking services." Continue Reading

Silver surfers keen to embrace mobile banking

"A new survey has revealed that older people are more likely to embrace mobile banking services that are now provided by a host of high street banks. Deloitte reviewed more than 10,000 UK bank branches and found that elderly and retired people, known as silver surfers, are increasingly embracing digital services." Continue Reading

Moving From Mobile Apps to a Mobile Platform

"Within the next 12 to 18 months, mobile banking will pass a historic milestone and overtake Internet banking in terms of overall usage. Innovation is now being focused on mobile first, with Internet banking being the laggard. In 2014, the next important change in mobile apps will be addressed by both community and money-center banks; How to extend capabilities to businesses and employees." Continue Reading

Javelin Announces 2013 Mobile Banking Vendor Award Winners

"The results of Javelin Strategy Research's annual Mobile Banking Vendor Scorecard show that FIS, Monitise and Fiserv are outperforming all competitors with mobile banking solutions. Javelin's fourth annual Mobile Banking Vendor Scorecard evaluates vendors' solutions--standard out-of-the-box and customizable--to assess critical categories of features and functionality that will drive mobile banking adoption among consumers." Continue Reading

For Millenials, Banking is a Multi-Channel Affair: TD Bank Checking Experience

"It isn’t hard to run into any number of news articles or editorials announcing millenials as the tech generation: they follow each new advancement, buy the most recent products and drive services away from the physical and towards the digital. A new TD Bank study that examined American’s banking behaviors related to their checking accounts both confirms this notion and complicates it." Continue Reading

Ongoing, "fit-to-win" mobile strategy needed to succeed

"Consumers expect increasingly sophisticated mobile banking capabilities, and delivering these capabilities requires financial institutions to move beyond short-term tactical thinking in favor of a continuous commitment to the channel. In short, mobile banking should be treated as a marathon, not a sprint, according to research by Fiserv Inc." Continue Reading

2013: Year of the Mobile Must Have and Have Not

"Call 2013 the breakthrough year where, suddenly, a mobile banking feature leaped into must- have status, as another feature – once much hyped – continued to fail to win significant adoption. As for the must have, the name is awkward, but in 2013 mobile remote deposit capture emerged as an essential as credit unions raced to add it to their mobile menu, said Doug Brown, a senior vice president at financial tech giant FIS." Continue Reading

Bank of America's Plan to Invade Your Smartphone

"Just this week, Bank of America CEO Brian Moynihan said, 'If you have a smartphone in your pocket, you have a bank in your pocket.' While that may sound a touch terrifying, it is a good thing for both consumers and the biggest banks." Continue Reading

7 Ways Financial Marketers Can Boost Mobile Banking Adoption Rates

"'If you build it, they will come.' This line from Field of Dreams may have worked for Kevin Costner, but in real life it’s usually the exact opposite. It certainly isn’t the case when trying to increase adoption and usage of mobile banking services." Continue Reading

Mobile banks gain traction with young customers

"Mobile banks are growing in popularity with young people who are worried about paying fees on traditional banking, according to The New York Times. While mobile banking isn't new, younger people with tighter budgets do not want to pay traditional monthly fees, overdraft frees or have a minimum balance requirement." Continue Reading

Are Branches Doomed By Mobile Banking?

"Many banks and credit unions are winding down branch network size and downsizing existing branches while expanding digital service channels to support customers. This makes sense: Nearly three-quarters of bank shoppers believe they’ll do all their banking virtually in the future." Continue Reading

Mobile Banking Late Bloomer First Niagara Sees Quick Adoption

"First Niagara was a latecomer to mobile banking, but the upstate New York bank seems to making up for lost time with quick customer adoption. More than 25 percent of the bank's online banking customers signed up for mobile banking within six months of the service's launch in late January, surpassing the bank's initial year-long adoption estimates." Continue Reading

Mobile Banks Gaining Popularity With Young Consumers

"TURIYA GOETZE, a 23-year-old teaching assistant in Kansas City, Kan., found herself looking for a new bank this summer. Her student checking account at a large national bank had expired, and she was worried about paying lots of fees on a traditional account." Continue Reading

This One Stat Will Convince You Mobile Banking Matters

"In case there was any question, recent research confirms mobile isn't going anywhere anytime soon: By 2017, smartphones are predicted to account for a whopping 82 percent of the cell phone market, up from the 50 percent today.

For banks and FIs, this growing smartphone user base means consumers are going to increasingly expect not only mobile banking services, but mobile banking services that go the extra mile, offering features and functionality that enable them to navigate their financial lives with the same ease as their smartphone itself." Continue Reading

FNB takes mobile banking to Africa

"FNB has expanded its digital banking services into Africa by launching and integrating its banking app and online banking services into its subsidiaries on the continent. Outside South Africa, FNB currently has operations in Zambia, Namibia, Botswana, Swaziland, Lesotho, Tanzania and Mozambique." Continue Reading

Daily use of mobile banking in Korea up 1.8 pct in Q3

"The daily use of mobile banking in South Korea rose 1.8 percent in the third quarter from three months earlier on the back of the growing popularity of smartphones, the central bank said Wednesday. Transactions by mobile banking or banking services accessed via wireless handsets were valued at 1.42 trillion won (US$1.32 billion) per day in the July-September period, compared with 1.39 trillion won three months earlier, according to the Bank of Korea (BOK)." Continue Reading

4 Changes to Bank Branches Brought on By Your Smartphone

"With 56% of U.S. adults owning a smartphone and another 35% of Americans 16 and older owning a tablet computer, according to data from the Pew Internet Project, the traditional bank branch system is bound to change. In fact there's been a 50% rise in mobile banking use over the past year, according to Accenture and its Retail Banking Survey." Continue Reading

Global M-Banking Market Is Expected to Reach USD 1.08 Billion by 2016: ResearchMoz.us

"Mobile banking, or m-banking, is considered a revolution in the Banking and Payments industry. The incremental increase in the penetration of mobile phones was instrumental to the growth of the Global Mobile Banking market in the last decade. Before the influx of smartphones, people used simple Java-enabled and WAP-based phones.

Moreover, carrier charges were quite expensive ten years ago, thereby limiting their usage. However, growing competition in the Telecom industry, and the increasing usage of smartphones and value-added services have contributed to the growth of the Global M-banking market and, consequently, the Retail sector via m-commerce." Continue Reading

Mobile banking use increased 50% in 2013

"Mobile banking is becoming an increasingly prominent element of the way people manage their finances. A new study conducted by Accenture has revealed that mobile banking activity in the US has increased by almost 50 per cent since 2012.

The report went on to note that almost a third of customer utilise mobile banking features and tools at least once a month. Consumers questioned by the company also believes that online banking is the single most important area for financial institutions to invest in and develop in the short and long-term." Continue Reading

Wells Fargo sees big uptick in mobile banking users (Video)

"Wells Fargo & Co. (NYSE: WFC), Colorado’s largest bank, has seen significant growth in its mobile banking users in the last couple of years, which has meant the bank has had to work hard to keep up the latest mobile technologies and security procedures. In a nutshell for banks, that means always making sure the technology works and provides a safe and seamless experience for its customers, said Armin Ajami, vice president and senior product manager for Wells Fargo." Continue Reading