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

Hi-tech future for cheque payments

"People will be able to pay in a cheque by sending a smartphone image of it to their bank under Government proposals to bolster the long-term future of the payment method." Continue Reading

The Human Toll of Digital Banking

"Last week, Barclays announced the layoffs of 1,700 branch employees and blamed the rise of mobile banking. Cashiers, personal bankers, operations specialists, branch managers and assistant managers will all lose their jobs throughout 2014, the U.K. bank said." Continue Reading

Mobile banking growth drives reduction in banks’ physical presence

"As mobile banking is gaining traction, traditional banks are struggling to adapt to the new reality where physical in-store interactions are no longer the status quo. With Barclay’s reportedly laying off 1,700 of its retail employees in response to the rise in mobile banking, the traditional teller may be nearing extinction." Continue Reading

Barclays Gets Into the Mobile Payments Game

"Barclays has launched a mobile checkout feature that allows users to make purchases from a mobile web or checkout page, as well as a "buy" feature that allows consumers to purchase from as advertisement via QR code for their Barclays Pingit mobile application.

The mobile checkout feature allows consumers to pay without entering a large amount of personal details often difficult to type in on a mobile device, the bank said." Continue Reading

International Mobile Banking Updates - Aug 6

More payments via mobile devices in 2015: report
"Online payment transactions handled by Chinese mobile payment service providers will exceed 9 trillion yuan in 2015, according to an industry report published on Monday. In 2012, the country's mobile banking sector handled 800 billion yuan in online payment transactions, an increase of 265.3 percent from a year earlier, according to a report published by the Internet Society of China, Xinhua news agency reports."

VIPERA PLC : Vipera – KPMG Commercial Partnership Agreement
"Vipera announces today that it has concluded an agreement with KPMG Advisory Spa ("KPMG"), a leading consulting and IT services company in Italy. Under this agreement KPMG, who are looking to expand their business in the area of mobile services and mobile financial services, have become a commercial partner and system integrator of Vipera's mobile financial services and solutions based on Motif."

Knocking on the M-commerce Door
"The past few months have seen more telcos inserting themselves into the mobile money and mobile commerce value chains. In Spain, Telefónica SA announced partnerships with financial institutions CaixaBank and Santander to create a new business in mobile banking, including a mobile wallet. (See Telefónica Brokers Mobile Money Alliance.)"

Surprising FNB mobile device stats
"FNB recently revealed that 76% of their clients visiting their online banking services are using an iPhone or iPad – much higher than all other brands put together. FNB launched its new website on Sunday 14 July, aimed at creating a consistent experience across all devices. The focus on a mobile friendly experience is very evident in the new design. Around 10% of FNB’s banking clients are currently accessing the website via a mobile device – up from 4% a year ago."

Software quality problems show need to “shift left”
 "In the private sector, software errors are causing both financial and reputational damage. A study by software quality specialist SQS identified private sector businesses in the banking, retail and mobile sectors, more likely to suffer software malfunctions than public sector organisations."

Bank of Kigali launches mVISA-Rwanda
"The Bank of Kigali, in partnership with Visa, has launched a new mobile banking platform, mVISA, an interoperable mobile branchless banking solution. BK mVISA is a digital wallet that targets 55 per cent of the country’s population of 10.5 million that currently have mobile phones."

ANZ Extends Mobile Financial Services to Unbanked and Underbanked Consumers with Mobiliti Reach from Fiserv
"Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Australia and New Zealand Banking Group (ANZ), a $642.12 billion asset banking group, has launched an extensive mobile banking and payment service in several nations in the Pacific."

Aussie Bank Crowdsources Product Ideas in Mobile App Challenge
"Westpac will invest $50,000 to develop two concept apps from the public. The bank already has an aggressive mobile strategy, and is threatening to shake things up further with more bold moves like this before year’s end."

Kenya: Press Releases: Barclays Bank Offers Bulk Mobile Payment Solution
"Barclays Bank has partnered with mobile telephony service provider Safaricom to offer a mobile banking service that enables corporate clients to disburse bulk payments such as salaries, dividend payments, per diem allowances and pension payments to various beneficiaries through their mobile phones."

Canadians growing increasingly comfortable with mobile payments
"Mobile payments have gone mainstream in Canada. According to a report a by Technology Strategies International, more than half of smartphone owners in the country have used their phones to make payments this year. The bad news, according to the report titled "Canadian Payments Forecast — 2013," is that most of these mobile payment transactions have been for e-commerce purchases or bill payments via mobile banking apps and mobile banking websites. In other words, they're not happening in brick-and-mortar stores."

Updated: Westpac Australia online, mobile banking services still down
"Westpac Australia has confirmed that its online and mobile banking services are experiencing intermittent issues today. Westpac said its services were restored at 7pm Australian Eastern Standard Time (AEST) on Thursday night after being down for most of yesterday."

International Mobile Banking Updates - July 9

Nigeria: CBN Explains Restriction of Telcos From Mobile Banking Services
"The Central Bank of Nigeria (CBN) yesterday gave reasons for the restriction of telecommunication companies from offering mobile banking services in the country. The Director, Banking and Payment System Department, CBN, Mr. Dipo Fatokun, stated that telcos were not given the opportunity to provide mobile payment services because the central bank did not have direct control over them."

CBN Blames Failure Of Telecoms Synergy On Mobile Payment Hassles
"The CBN says its inability to regulate operation of the telecoms is responsible for their exclusion in the mobile banking system, an approach which is being criticised by analysts. CBN’s Director, Banking and Payments system department, Mr Titus Fatokun, however, says that despite this development, mobile money transfer has recorded N9.2 billion in value and 275,558 in volume as at May 2013."

ING GROEP : European consumers empowered by mobile banking
"More than a third (37%) of almost 12,000 internet users surveyed in 12 European countries are already using mobile banking - and many credit the technology with providing more control over their money. While being able to bank on the go is very popular, cash is still favoured for ultimate control of budgeting and spending. Social media is booming and is mostly used to get better insight into money matters and is set to grow as many young people expect to be able to make payments via social media, according to the ING report entitled Financial Empowerment in the Digital Age."

Monitise and Telefonica Enter Mobile Money Partnership
"Monitise plc UK:MONI -1.38% announces it has become the preferred Mobile Money technology partner for Telefonica Digital to develop and manage new and existing mobile payment and commerce services for its customers."

HSBC Bank Oman launches secure key for internet banking and upgrades mobile banking app
"Having been the first bank to provide Internet Banking in the Sultanate, it is now one of the first banks in Oman to offer this service. Secure Key provides customers with an extra layer of security when they access their accounts online, bringing the best of HSBC's global capabilities and technical expertise to customers across the Sultanate in a simple, secure and efficient way. The bank has also upgraded its mobile banking app which is available for Android powered devices. With its new look and feel and simplified navigation, the new app allows customers' funds transfer facilities between their HSBC accounts, in addition to a better user experience."

Standard Bank closes WAP mobile banking
"Standard Bank is set to discontinue its Wireless Application Protocol (WAP) cellphone banking service from 8 July 2013. The bank notes that this service makes up only a fraction of its total mobile banking registered customer base, saying further that its app service has achieved 170,000 unique registered users since it launched a year ago. As at 31 December 2012, the bank claimed to have 11 million retail and business customers in South Africa."

Product review: Barclays’ CashSend, Hello Money
"The single biggest weapon in the mobile money transfer services (MMT) arsenal — EcoCash — is, however, effectively in the hands of a non-bank player and it has made significant inroads into traditional banking territory. While banks are expected to wage a sustained battle for a piece of the unbanked pie, it would be unwise for them to concentrate only — or mainly — on that without also coming up with strategies for protecting their existing customers from the onslaught of game-changing MMT products such as EcoCash. In their quest to craft appropriate strategic responses, banks have responded in basically two ways."

International Mobile Banking Updates - July 1

Kenya: Barclays Bank Launches Mobile App
"In Kenya, The Star reports that Barclays Bank of Kenya has introduced a mobile banking app (BarclaysKenya), said to have similar functionality of the financial institution’s full online banking platform. The service is freely available and accessible to customers who have registered successfully for Barclays Internet Banking writes The Star."

Mobile-solution company Tagit to expand in the Philippines
"SINGAPORE-based mobile-solution company Tagit is planning to expand its business in the Philippines by offering mobile-banking application software to banks, its top official said. Sandeep Bagaria, chief executive officer of Tagit, in a recent interview with the BusinessMirror said he is talking with some banks in the country and offer mobile banking applications using Tagit’s Mobeix platform software."

NAB opens digital wallet and takes aim at CBA’s Kaching
"National Australia Bank is poised to kick off digital wallet trials with payments rivals Visa and MasterCard, as it assesses plans to take advantage of growth in mobile banking. The bank will also unveil its response to Commonwealth Bank of Australia’s Kaching payments app at the end of next month, after an internal trial. NAB’s executive general manager of digital and direct banking, Antony Cahill, said the bank was focusing on developments for smartphones and tablets after 76 per cent growth in uptake of mobile banking among its customers in the past 12 months."

High street banks unveil Zapp mobile payments system
"VocaLink has today unveiled a new mobile payment service backed by the UK's major high-street lenders, which provides the infrastructure behind Bacs, Direct Debit and Mobile Top-Up. VocaLink, which is owned by a consortium of 18 banks and building societies, including Barclays, RBS, Lloyds, HSBC and Santander, has named the service Zapp and set up a web page touting its advantages to businesses and individuals at zapp.co.uk."

Money On The Move Has Africa Clicking
"The ability to transact, to withdraw, deposit and manage personal finances anywhere at anytime is an attractive proposition for consumers. This is one of the core advantages of mobile banking services that mobile service providers and financial institutions are looking to invest in- and transfer to their markets. Another driver behind the market is the intention to bridge the gap between Africa’s increasing number of un-banked citizens and its banked community, particularly in terms of access to banking services."

Mobile banking doesn't pay off: Credit Suisse
"Banks are spending too much on digital banking, despite the rapid growth in customers managing finances on their mobile phones and tablets. A report by brokerage Credit Suisse said competition among banks was spurring on a massive investment in mobile technology although it was yet to have little material benefit to the banks. Mobile banking still accounts for less than 10 per cent of the value of digital transactions, despite the number of mobile banking customers surging to 6 million earlier this year."

Lloyds Bank Commercial Banking arm to roll out mobile card acceptance
"Lloyds Bank Commercial Banking is to develop a suite of mobile card acceptance solutions aimed at small retailers and business owners. The brand has announced a partnership with Monitise, which will see the release of the mobile point of sale (mPOS) payment products, while also intending to offer additional banking services and businesses solutions."

Some 50% of account holders prefer mobile banking
"THE Bank of Philippine Islands (BPI) on Thursday said the bank anticipates double-digit growth on mobile-banking transactions this year, its top official said. Carlo Gatuslao, BPI vice president and head of Channel Marketing and Sales Division, said more than half the number of account holders make use of their mobile-banking applications or apps to transact with the bank. BPI launched its first mobile-banking apps for Apple and android smartphones in 2011."

Mobile Banking Updates - June 26

App of the day: Barclays Mobile Banking review (Android)
"It makes the world go round but you can't buy love with it. It walks, it talks, it's the root of all evil, but all we want is dirty cash. The country has none, but fortunately banks do, and some of that filthy lucre goes into app development. Mother always said that if you look after the pennies, the pounds would look after themselves, and this app might just make that easier. Today, we're looking at Barclays Mobile Banking."

Banks Turn to Fees to Make Mobile Pay
"At the recent Mobile Banking Summit in Miami, a question bankers raised several times was, how do we make money off mobile banking? Mobile app development projects can cost $1 million to $5 million, and often boards and executive committees want to see some kind of return on investment before approving such projects."

Putting Digital ‘Tech Champs’ in Every Branch Location
"Hands-on demonstrations can convince wary consumers that digital banking tools are both safe and simple. Millions of consumers have gleefully jumped on the online and mobile banking bandwagon. But there are millions more who still haven’t. What’s holding them back? Among those yet to embrace modern, web-based banking channels, some admit they are intimidated by new technologies, while others say they distrust the security of internet-connected devices particularly for financial activities."

Mobile Banking Exec Tracey Weber to Leave Citi
"Tracey Weber, Bank Technology News' Mobile Banker of the Year for 2012, is planning to leave Citigroup at the end of June. The bank says she is leaving "to pursue other interests." (Weber was not available to comment.) Her position — head of the North America Internet and Mobile and Global Product team — will be filled by Melissa Stevens, a 15-year veteran of the bank."

Mobile banking gets smarter
"Dan Brower fished a much-awaited check from his mailbox but didn’t have time to swing by his bank’s branch. So the Kansas City resident fired up his two-week-old iPhone, and with just a flick of his finger — disappointment. Commerce Bank’s mobile banking application doesn’t accept deposits. 'It’s funny because with PayPal’s app, you can take a picture of your check and put it in your PayPal account,' Brower said. Mobile banking apps are widely available, they don’t all do the same things. A photo-based check deposit tool is coming soon to Commerce’s bank app."

TD Bank's Mobile Site, ATMs Running Again After Hour-Long Outage
"TD Bank (TD) is back up and running again after an internal glitch downed its mobile banking site and in-store ATMs Tuesday afternoon, temporarily impacting customers’ ability to withdraw cash and check their balances. A spokesperson for the Toronto-based bank confirmed the outage and said it was related to an internal system glitch, not a cyber attack like the one responsible for hitting TD's consumer website in March. The system went down around 3:30 p.m. ET on Tuesday and resurfaced about an hour later. While its-store computers were down, TD said it used a manual system to handle customer business."

International Mobile Banking Updates - April 16

MoneyGram and First National Bank launch mobile banking in South Africa
"MoneyGram and First National Bank (FNB) of South Africa have launched their first mobile money transfer service in Africa. The new mobile banking service enables FNB customers throughout South Africa provinces to send and receive international money transfers using their mobile devices. The service features data encryption system that protects account holder information. Transactions sent from a mobile device are available for collection within 10 minutes, subject to an agent’s hours of operation and local laws and regulations."

Australian banks need to embrace mobile application users: Study
"By the end of 2013, more Australians are predicted to be using their mobile phones to do banking than their desktop computers, but research released this week shows they are increasingly dissatisfied with the offerings from financial institutions. Mobile marketing firm BanterMob analysed ratings and reviews of Australian banking apps, and found nine of the 13 banks reviewed rated average or below average, and almost three-quarters of user app reviews were negative."

Buggy apps hurt customer experience in mobile banking
"Banks aren’t using online banking properly, Australian mobile marketing firm, BanterMob, has claimed. The group studied 42,000 ratings and about 2000 reviews of Australian banking applications available in the four major app stores. BanterMob director, Kelly Slessor, says the results show high levels of negativity and sub-optimal customer experience."

ABSA launch their mobile and tablet banking App
"ABSA proudly, if a little belatedly, revealed their on-line Banking App for Android and Apple iPhone devices today in Johannesburg. ABSA is the last of the South African big banks to launch their mobile App. The ABSA App will be of huge benefit to all the ABSA customers with smart devices. ABSA said the App would be the first real, native financial services App for smartphones and tablets in South Africa available for both retail and business customers."

ING Direct Canada Looks Forward On Mobile
"ING Direct Canada foresees a world where the mobile channel dominates consumers' interactions with their financial institution, and is preparing accordingly. The bank has been working with Armonk, N.Y.-based IBM on several mobile banking services using IBM's MobileFirst suite of solutions. 'People are using these devices for managing almost every part of their lives,' says ING Direct Canada's CIO Charaka Kithulegoda. 'The movement into managing the financial part of their lives has been a bit slower compared to retail, for example, but now they're starting to do it more and more in financial services as well.'"

Barclays Zimbabwe to launch mobile banking service, Hello Money (updated)
"Barclays will be launching its mobile banking application Hello Money, in Zimbabwe this month. The announcement was made as part of the launch of new ATMs by the company a few days ago. Hello Money will allow Barclays account holders to transfer money to a Barclays account or to an account at another banking institution, airtime top up, mini statements and balance enquiries."

Mobile banking transactions double, payments rise threefold
"Mobile banking seems to be gaining popularity among Indians with increasing number of people using this platform to buy tickets, pay bills, shop online, and transfer funds. The opportunity to expand reach, grow revenues and gain operating efficiencies have persuaded several banks to encourage their customers in using mobile banking. Consider this: The number of mobile banking transactions doubled to 5.6 million in January 2013 from 2.8 million a year ago. The value of these transactions increased threefold to Rs 625 crore during the month from Rs 191 crore in January 2012."

Stanbic IBTC Launches Mobile Money Application
"Stanbic IBTC Bank Limited has announced the introduction of the ‘Stanbic IBTC MobileMoney’ application for smart phones. The product is expected to run on blackberry and android operating systems. Stanbic IBTC’s Executive Director for Personal and Business Banking, Mr. Obinna Abajue, was quoted in a statement as saying that the move underscored the bank’s commitment to provide Nigerians with value-added products and services that suit their lifestyles, while giving them access to basic financial options via a secure mobile application wherever and whenever they want."

Banks in product development race
"AS competitive pressures mount in the banking sector, banks have to devise various safety valves, knowing that there is no single silver bullet for achieving sustainable competitiveness. Apart from diversifying sources of funding, enhancing liquidity profiles, fortifying balance sheets, growing deposit bases and enhancing access to lined of credit, banks are also actively pursuing a product and channel expansion strategy, if the recently released 2012 financial results are anything to go by. Most banks were unequivocal about their growth strategies and clearly articulated them in statements accompanying the results while others offered no clues. During the period under review, Agribank rolled out its first phase of e-Banking products; notably Internet and mobile banking, SMS alerts as well as e-statements. The bank also entered into a strategic partnership with EcoCash to facilitate roll out of mobile money transfer services. Going forward, Agribank intends to strengthen strategic alliances that grow non-funded income.

SA mobile banking fraud on the rise
"The Ombudsman for Banking Services (OBS) has noted an increase in complaints as mobile and internet banking fraud increased, according to its 2012 annual report on banking services. In the report, advocate John Myburgh, chairman of the board of the Ombudsman for Banking Services (OBS), said that the growing mobile customer base has spurred banks to launch ever-more innovative mobile payment options. With an estimated 13-million unbanked South Africans, the potential for such products is immense, he said."

Indian uptake of mobile FS on rise as banks launch more m-payment options
"Mobile banking is gaining popularity in India, with the number of mobile banking transactions doubling to 5.6 million in January 2013 from 2.8 million a year ago. The value of transactions increased tripled to rupees (INR) 625 from INR 191 in January 2012. CICI Bank, which has the largest share of mobile banking payments in India, makes periodic offers to its customers to encourage them to use mobile banking services. The bank produced these figures and has partnered with several service providers to offer customers discounts on their products and services, as well as entered partnerships to allow them to make utility bill payments via mobiles."

Mobile-banking with 1.4 million accounts shows remarkable surge
"Mobile banking in Pakistan has witnessed a reasonable growth as the number of such accounts (M-Wallets) has reached 1.4 million by 2012, showing an increase of 156 % as compared to previous years. The current number of m-banking accounts is seven times higher than the numbers at the end of September 2010. Of the total 1.4 million m-banking accounts, 66 % are active accounts and the ratio of active accounts has increased from 54 % as of end December 2011. The Pakistan Telecommunication Authority (PTA) in its report has revealed that this increase in the active accounts is mainly due to increase in the small transaction m-banking accounts by UBL Omni, facilitated by regulatory flexibility in account opening by State Bank of Pakistan (SBP)."

Internet Banking to Grow 65% a Year in Latin America
"The number of Latin Americans who have access to their bank with mobile divices will grow by 65% annually in the coming years and reach 140 million people by 2015, according to a Deloitte report released by the Latin American Federation of Banks ( Felaban). The study indicates that the concept of “mobile money” will transform Latin America in the coming decades and remember that in some rural areas access to traditional banking services is still limited because of the high costs involved."

Mobile Banking Updates - Feb 21

Banks to spend $118B on tech, mobile banking in 2013
"Retail banks worldwide will increase their IT spending by 3.4 percent this year — to a total of $118.6 billion. Industry analysts at Ovum predict that spending in Asia will rise 5.1 percent, followed by North America at 3.3 percent, and Europe at 1.8 percent. In a new business trends report, Ovum said that mobile banking would be a 'clear IT investment priority in 2013.' The company suggested that total spending for online channels — including online and mobile browser-based services — will grow by 6.2 percent in 2013."

Banks responding to mobile banking expectations
"Smartphones and even tablets are becoming increasingly ubiquitous in the U.S., and as a result, it’s no surprise that expectations for the ways in which people can use their mobile devices for day-to-day tasks are rising. An October 2012 survey conducted by Performics, a global performance marketing agency, reported that 71 percent of U.S. smartphone and tablet users expect to be able to conduct their banking via their mobile devices."

Mobile Banking, not my cup of tea...
"At a Finserv conference this week, it emerged that compared to their early adopter counterparts in the US, UK consumers are seriously lagging behind in the adoption of mobile banking services. In fact, the UK is also behind many developing countries in the take up of m-banking. This is borne out when you look at the success of mobile banking applications on the market. Of all the Lloyds customers who use online banking, only a small percentage has embraced mobile banking. Ping It, Barclays toe dipping exercise in the m-banking space hasn’t really delivered – reports of uptake amongst Barclays’ customers have been pretty poor."

With 590M Mobile Banking Users Expected in 2013, New Insights From 41st Parameter Warn of Growing Fraud Threat
"41st Parameter, the global leader in fraud detection and prevention, warns that financial institutions are facing serious vulnerabilities as the usage of mobile banking skyrockets. To educate the industry, 41st Parameter has published a whitepaper that looks at adoption trends, threats and potential solutions to help mitigate the mobile risk to consumers and institutions alike. Mobile banking and m-commerce have gained massive global traction over the past three years, with almost 600M people expected to use mobile banking services in 2013, up from 185M in 2011. With so many devices from smartphones to tablets to PCs, so many transactions and growing consumer demand for mobile banking, it's easy to understand why this is a major focus for many financial institutions."

Mobile Payments & Banking Market: mCommerce Analysis, 2018 Forecasts in New Research Report at RnRMarketResearch.com
"The growth in mobile telecommunication services and ubiquitous availability of mobile phones are creating unexplored business opportunities not only for the mobile operators, but to a range of other industry participants. Mobile phones are known to transfer information, whereas mobile money enables it to transfer cash from one entity to another; it acts as an alternate payment method to transfer cash/credit/check and make financial transactions with the mobile phone. The success of M-PESA, which was launched in 2007 in Kenya and other African regions, has made the operators focus on this market."

International Mobile Banking Updates - Sept 11

European Mobile Banking Users Get Smarter
"In the EU5 (France, Germany, Italy, Spain and the UK) 30 million people accessed a bank accounts via their smartphone in July 2012, an increase of 85 percent compared to a year ago. The UK had the largest user base with 7.3 million smartphone owners accessing bank accounts in the month, nearly twice as many as just one year ago. Spain showed an even stronger increase with 113 percent more users making use of service compared to last year."

RBI cold to mobile wallet
"Reserve Bank of India deputy governor H R Khan on Wednesday said mobile telephone operators cannot be permitted to provide a cash-out facility from virtual wallets to customers, as such an activity would amount to ‘bypass banking’. However, they could do so if they acted as a business correspondent (BC) to a bank, he added. Recently, Airtel had launched m-wallet services that enable a customer to make utility payments and transfer money from one user to another. By the norms, mobile transactions are permitted only if attached to a specific use, such as paying electricity bills or shopping at retail establishments that accept mobile payments."

Getting mobile banking right
"M-PESA, Kenya’s popular mobile money transfer system via mobile phones, has inspired several similar models all over the world. Kenya’s mobile penetration plus the simplicity and effectiveness of M-PESA are reasons for its popularity – 68 percent of Kenyans use their mobile phones to transfer money. Soon, remittances from the UK to a dozen African countries should be possible via Barclays Bank’s pingit, a money transfer app. First made for BlackBerrys and Barclays’ customers, the app can now be downloaded by non-customers of Barclays with smartphones to send and receive money. UK residents will be able to beam money first to Kenya, then Botswana, South Africa, Zambia, Tanzania, Ghana, Nigeria, Egypt, Zimbabwe, Uganda, Seychelles and Mauritius."

Keeping mobile banking secure in an unsecure world
"MOBILE phones today are multipurpose, so it is no surprise that the number of mobile banking users has doubled over the past three years. Most banks have worked to make it easy by optimising their websites for mobile devices, allowing you to check your account and make payments and transfers on the go. But while a number of mobile users find this incredibly convenient, they are still in the minority, representing about 12% of online adults."

Absa mobile banking a hit
"Banking group Absa says it has 3.6 million customers registered for mobile banking. The group says that growth patterns in the use of its mobile website have exceeded expectations seeing over 1.3 million page views each month. The bank has also seen year-on-year growth of 450% in mobile traffic, largely due to the portal’s redefined user experience, optimised for mobile visitors, it said."

USAID-backed mobile banking project to be launched in PH
"An officer of the United States Agency for International Development (US AID) will be in the country to launch a mobile banking project aimed at expanding Filipinos’ access to financial services. In a statement, the US Embassy in Manila said that USAID Chief Innovation Officer and Senior Counselor to the Administrator Maura O’Neill would be in the Philippines from September 9 to 12. 'O’Neill will lead the launch of USAID’s Scaling Innovations in Mobile Money (SIMM) project, which aims to give Filipinos easier and more efficient access to banking and payment services through mobile phones,' it said."

Mobile Banking Updates - Aug 26

Nearly half of cellphone owners expected to start banking by phone by next year
"One in five people who have a cellphone have used it recently to do their banking. By next year, nearly half of cellphone owners are expected to use them to check their bank account balances, pay bills or deposit checks. That may not surprise the 44 percent of people who currently own smartphones and already use them for everything from real-time traffic updates to comparison shopping while standing in a store aisle. It may surprise the 32 percent of consumers who have never even accessed their bank accounts from their home computer."

Mobile banking expected to skyrocket by the end of 2013
"By the end of 2013, roughly 43% of bank customers are expected to be using their smartphone for banking on the go, according to The Federal Reserve. The report said that it is the younger customers leading the trend. But not all young smartphone users are ready for mobile banking. 'I would never use my phone for banking personally, I don't even use the Internet, I don't think it is secure,' said Cleveland State University senior Megan McKenney."

Barclays introduces new mobile banking app
"Barclays PLC has introduced a free mobile banking app, Barclays Mobile Banking app, allowing its personal and small business customers to view their balances and last 30 transactions, make transfers between accounts, pay bills and find branches or Barclays ATMs. In addition, Barclaycard UK personal customers who also hold their bank account with Barclays will be able to view their credit card balance and recent transactions and make a repayment off their last statement balance."

Web - The Forgotten Channel?
"According to many recent analyst reports, including the World Retail Banking Report 2012 co-authored by Cap Gemini and EFMA, customers are viewing the Internet - alongside the branch - as one of the two most important channels of retail banking worldwide. In this context, I find it odd that many banks and nonbanking financial service providers are virtually treating the web as a non-existent channel while communicating the value proposition of their phone, mobile banking and mobile payment services. Let me cite a few examples of this trend."

Mobile Banking Updates - Jul 16

Mobile banking, once a gee whiz feature, is becoming ubiquitous
"Mobile banking, which not long ago was the next new thing, is quickly becoming a must-have service for area banks and credit unions. Just in the past few months, a number of financial institutions with a presence in the Triangle have enabled their smartphone-wielding customers to transfer funds, look up their balances, pay bills and handle other banking chores while on the go."

The Mobile Value Chain Challenge
"When the first mobile banking services launched in the late 90’s, the technology was way ahead of consumers – both their needs and access to the technology. Internet banking was still being established and so banks and consumers were still building confidence in accessing their accounts remotely. More importantly, whilst it was technologically possible to create a WAP banking site, most consumers didn’t have a WAP capable phone, and even those who did, the user experience was very poor."

Mobile Banking Advocates Open North American Unit
"Mobey Forum North America will bring together experts in the industry to resolve issues affecting mobile financial services, the group said Monday. Members will include representatives from American Express (AXP), Bank of America (BAC), Capital One Financial (COF), CIBC (CM), MasterCard (MA), TD Bank Group (TD), U.S. Bancorp (USB) and Visa (NYSE:V)."

Citi's Endorsement Could Be Huge For Facebook's Online Banking Push
"We recently commented on Facebook’s rumored interest in the online social banking space, which seems to be the next logical progression after internet and mobile banking offerings from major banks have firmly taken root. Apparently, Citibank may already be working such a social banking offering on the Facebook platform."

ATM Cash Withdrawals Go Cardless With Mobile Banking App
"Customers of RBS and NatWest, two major UK banks, can ditch their debit cards for their mobile phones. Thanks to a new innovation, customers can use the ‘GetCash’ service to pull cash from ATMs without needing a debit card. GetCash offers customers an easy fix for lost or forgotten cards, a way to get cash quickly to family members or friends in need, or a choice of leaving their wallets at home."

Barclays unveils latest mobile banking application
"Barclays has kicked off a new free mobile banking solution, which facilitates its customers to have simple access and a way of managing their accounts while traveling. The UK based lender said that the mobile banking application is available on its site at no cost, which will enable the bank's personal and small business customers to view their balances and last 30 transactions, make transfers between accounts, pay bills and find branches or Barclays ATMs."

International Mobile Banking Updates - May 30

Where Does the Future of Mobile Banking Lie?
"Karl Rieder, Director of Research & Development at The GFT Group, is chairing the Marketforce and the IEA Annual Future of Mobile Banking Conference 2012, on Tuesday 29th May in London. 'This is an extremely interesting time to be in mobile banking,' Karl Rieder comments, 'While mobile technologies have significantly changed our lives and businesses, mobile banking has yet to take a real foothold as compared to other industries, but we are at a tipping point, and some big things are right around the corner.'"

The Future of Mobile Payment Systems: Rise of the Mobile Wallet 2012-2017
"Currently there are over 30 different mobile payment solutions each with their own technologies, advantages, and disadvantages. Existing mobile solutions are categorized based on the payment settlement methods that are prepaid (using smart cards or digital wallet), instant paid (direct debiting or off-line payments), and post paid (credit card or telephone bill)."

Q and A: Barclays looking to extend Pingit into full blown mobile banking
"Barclays told CBR that will be extending the functionality of its Pingit money transfer app over the coming months, with an eye to releasing a ‘full’ mobile banking app. CBR spoke to Barclay's Richard Martin, managing director, payments and cash management products, and Mike Walters, head of UK corporate payments product management about the future of its smartphone app, Pingit."

Nigeria: RenCap Seeks Policies for Mobile Banking Growth
"Renaissance Capital (RenCap) has called for policies that will stimulate the growth of mobile banking in Nigeria. The international financial advisory firm in a report Tuesday expressed concern that why the use of the banking platform has recorded significant success in Kenya, same could not be said of Nigeria. It added: 'The structure of Kenya's economy and regulatory environment supported the development of mobile banking. Following the introduction of mobile banking the number of Kenyans with bank accounts has increased from 1 million to 15 million.'"

Westpac to develop technology in-house
"Despite cutting several hundred jobs and being accused of planning to offshore the majority of its IT operation, Westpac technology chiefs say the development of new mobile applications and innovative solutions for the banking group must be handled in-house. Chief information officer Clive Whincup and chief technology officer Jeff Jacobs used a technology media briefing last week in Sydney to unveil two new iPad apps developed in Australia by a team of about 50 staff. The team, comprised primarily of former St George Bank developers and additional personnel, bases app features on insights garnered from consumer and user behavioural research."

Push to go mobile keeps bankers appy
"MOBILE banking is quickly becoming the new battleground for major banks as an explosion in the number of Australians using smartphone apps threatens their grip on customer payments. The big four are scrambling to keep up with customer demand for hyper-mobility with the number of smartphone users expected to increase globally to 631 million by 2015, up from 172 million in 2009, according to the World Retail Banking Report 2012."

Dial M for mobile banking apps
"Smartphones are revolutionising personal banking and throwing up some bizarre juxtapositions of old and new. In the United States, where cheques are still common, Chase Bank has developed an iPhone app that lets customers photograph the front and back of cheques and submit the images, via their iPhone, to the bank to be deposited into their account."

Absa online banking crashes - on payday
"It is not the first instance of a South African bank apparently failing to manage the huge migration of customers to online banking. In March First National Bank had to weather a storm of protest when it suffered a systems failure for several hours. On Friday an Absa spokesman said the bank's system engineers were trying to resolve the problem, but by 3.45pm the website was still not accessible after being unavailable all morning."

International Mobile Banking - May 22

Mobile payment on the way, but who’s driving the bus?
"The Canadian Bankers Association announced on Monday what amounts to the next step in the evolution of how Canadians buy stuff. Sometime soon — details are not provided — we will be able to buy stuff in stores with a mobile phone thanks to a new set of common guidelines over how electronic information is exchanged agreed to by the country’s big banks and credit unions. It is hoped that the guidelines will pave the way for a transformation in the way Canadians interact with retailers, an acknowledgement of the growing importance of smartphones in the way we live our lives."

Commonwealth taps into mobile banking
"Commonwealth Bank Indonesia, a subsidiary of Commonwealth Bank of Australia, is tapping into the growing mobile-phone banking market in the country as the total number of middle-class consumers continues to expand in the largest economy in Southeast Asia. 'Up to 80 percent of [the Indonesian] population is younger than 40 years old, 35 percent of them use social media. If you look at the way people interact and travel in Indonesia, mobile phones play a key part,' Commonwealth Bank Indonesia’s director of retail and business banking, Ian Phillip Whitehead, said in Singapore on Friday."

Firstly in Georgia – mobile banking for iPhone and Android
"In May 15, 2012, 13:00 PM, TBC Bank will open its new branch on Vaja-Pshavela avenue 49 and will present the most comfortable and ultramodern distance banking service – special versions of mobile banking for iPhones and Androids. Mobile Bank applications will be presented by Vakhtang Butskhrikidze, CEO. TBC is the first bank in Georgia to offer its customers mobile bank applications on Apple Store which could be downloaded and used from 7th of May, 2012. More than 400 customers already use TBC’s mobile bank applications. Applications for Android phones are also ready and will be available almost immediately."

Can mobile banking boost financial inclusion in Nigeria? "Nigeria’s telecommunications sector has been one of the country’s star performers over the past decade. According to Standard Bank, Nigeria is already the world’s tenth-largest mobile market. South African mobile operator MTN closely studied the Nigerian market for three years before it entered the country in 2001. Today MTN Nigeria has over 40 million subscribers, its biggest market out of the 21 countries where it operates. Many other brands such as Glo, Airtel and Etisalat have also launched operations in Nigeria."

How mobile banking can help Asia's poor
"The iPhone has become a symbol of something Steve Jobs never envisioned: Chinese sweatshops. Any of us (full disclosure: This includes me) who use one of Apple's smartphones, iPads or iPods is, at least indirectly, supporting the exploitation of electronics factory workers in China. Yet, what if the iPhone is a key to ending the poverty that forces so many Asians to toil in such abhorrent conditions?"

Rogers and CIBC make joint deal for NFC mobile payments in Canada, let you check out with your BlackBerry
"Canadians sometimes can't catch a break: while NFC payments have been relatively common for Americans, Europeans and certainly the Japanese, Canucks have had to largely make do paying with ye olde credit carde. Rogers and national bank CIBC want to put an end to these antediluvian ways: starting later this year, CIBC card holders will just need to swipe an NFC-equipped BlackBerry like the Bold 9900 (Bold 9930 for CDMA-loving Americans) at a matching terminal to pay at a given store. The only special requirement is a secure SIM card that gives customers the freedom to change phones, even if it does create problems switching banks or carriers down the line. We're just hoping that Android and other platforms get the same treatment and let more of our Canadian friends pay for poutine that much faster."

Out of Africa: Trade, Technology, and Knowledge—Part 2, Mobile Wallet and Banking Revolution
"Greater information technology share and investment through regional and South-South relationships is ushering the growth of an information technology revolution in Africa. This burgeoning African information technology revolution is not just limited to cyber cafes, media and online university level courses, but it is also allowing Africans to leap frog in the application and use of mobile phones. While energy and infrastructure constraints provide challenges to the growth of this industry, approximately 70 percent of Africans have a mobile phone. Mobile phones are being used to overcome challenges greater than the basic day-to-day needs. They have been crucial in allowing an increase of media access, medical doctors to see patients from a distance (particularly in remote villages), and mobile banking. I spoke about these opportunities and some creative ways of using mobile banking technology with Beamit CEO Matt Oppenheimer."

Barclays Pingit Mobile Banking (UK Only)
"It was with great surprise that I saw Barclays Pingit being advertised whilst watching Food Network UK this morning. This app allows users to send money to and from each other via their mobile phone numbers. I’m not sure if you folks in the United States have something similar — although I seriously suspect that you do and have had such a thing for months if not years before us. But this app, in my opinion certainly, has the ability to change how we use money."

India’s Mobile Banking Ekosystem
"Mobile banking is just one of the reasons India is a place to watch for innovations in financial inclusion. This short film profiles one such innovation, Eko, to see how businesses chasing the fortune at the base of the pyramid are serving the needs of poor customers in India. Five years’ ago, Abhishek and Abhinav Sinha created a software program that allows migrant workers in cities across India to send money to their families using a cellphone. Now their company, Eko Financial Services Ltd., is working with two major banks, the State Bank of India and ICICI, India’s second largest bank, to offer financial services to poor and low income customers using local corner stores, pharmacies, and airtime resellers as agents."

Mobile banking takes off in Rwanda
"BANKS IN Rwanda are turning to mobile phones in an effort to improve service delivery and cut costs as competition intensifies. It is now possible to pay electricity bills, top up airtime, order cheque books, pay DSTV bills and transfer money using a mobile phone. This is in sharp contrast to two years ago, when banks in Kigali limited mobile banking to basic transactions such as checking the account balance and getting financial statements."

Mobile Banking International Updates - May 10

MTN Says Subscribers Advanced 3.7% to 170.6 Million in March
"Africa’s largest mobile-phone company, said subscriptions rose 3.7 percent in the first quarter as users were attracted to its data packages and mobile banking facilities. MTN had 170.6 million subscribers at the end of March, compared with 164.5 million at the end of December, the Johannesburg-based company said today. In Nigeria, the company’s biggest market, it added 1.26 million new customers while South Africa contributed 3.2 percent more users, MTN said."

RHB Now Mobile Banking app available "
Mobile Banking app is now available on iPhone, iPad, Android and other smartphones for free. Customers who download it will be able to enjoy mobile banking services such as Account Enquiry, Bill Payment, Fund Transfer, Prepaid reload, Branch/ATM locator and Assistance."

AhnLab Reports the Analysis of the Best Apps in the Android Market
"AhnLab, Inc. ( http://global.ahnlab.com ), a leading provider of integrated security solutions, today announced that its research has identified many popular Android apps are asking for excessive permissions to access to the user data. AhnLab analyzed 178 best rated android apps using AhnLab Mobile Smart Defense (AMSD), cloud-based application analysis platform which verifies the security of Android apps. AMSD scanned 178 apps in five different types of permissions including: Personal information access, service information access, location information access, service charging and device information access. In this analysis, the degree of risk was marked on a scale from 1 to 100 by each type of permission, and the apps recorded 60 and above are classified as malicious."

Tanzania: PBZ Set for Mobile Money Transfer
THE People's Bank of Zanzibar (PBZ) plans to introduce mobile money transfer (Z-Pesa by Zantel) later this year to cater for the rising demand for financial services. The PBZ's Director of Marketing and Business Development, Mr Juma Hafidh, made the remarks over the weekend in Dar es Salaam at the launching of a special local television programme 'Mwana Dar es Salaam.' 'The installation of the mobile system has been completed and what remains is finalisation of some logistics with regulatory bodies,' he said."

The Mauritius Commercial Bank Delivers the First Mobile Banking Service in Mauritius with Oracle FLEXCUBE Direct Banking
"Oracle today announced that The Mauritius Commercial Bank (MCB), the oldest and largest banking institution in Mauritius, and one of the leading banking institutions in the Indian Ocean and in the Sub-Saharan region, has implemented Oracle FLEXCUBE Direct Banking to provide internet and mobile banking services to customers. MCB is the first bank in Mauritius to introduce mobile banking services and 96 per cent of its registered mobile banking users are already actively using the facility."

Developing Countries Are Revolutionizing Mobile Banking
"Barclays of U.K. launched Pingit, a service that lets people send and receive money using a smartphone. But this isn't the first big innovation in mobile banking. These innovations are already happening in developing countries. Poor countries are jumping ahead of rich ones by building a 21st century infrastructure (because they have little legacy infrastructure to begin with). For example, India has leapfrogged from no land-line telephones to the latest in wireless telephony. That revolution, in turn, is causing India to leapfrog brick-and-mortar banking to wireless banking for the masses. We see similar patterns in other poor countries as well. Mobile money transfer in Africa, M-Pesa, is a case in point. Counterintuitive as it may seem, poor countries may be ahead of rich countries in mobile banking."

Canadians embracing mobile banking
"The benefits of owning a smartphone are many: Handling work issues when you’re not in the office, staying connected with friends and family, settling that late-night bet about John Travolta. But for millions of Canadians, smartphones are becoming their go-to device for paying bills and checking bank account balances."

Mobile banking in India does not need a one-size-fits-all solution
"Mobile banking is a new generation platform available to customers for conducting balance inquiries, account transactions, utility payments, and other banking activities using a mobile handset. Mobile banking services in India started with SMS banking way back in 2002. With an increasing mobile subscriber base in India, mobile banking has picked up steam in recent years."

Mobile Payments - May 9

Taking a mobile and a wallet to the shops?
"Making payments on the move and at the touch of a button isn't the future of banking; it's already here. Mobile phone providers have been quick to focus on finding new ways for customers to access financial services and products from their phones. The Barclays PingIt app is now open to all UK bank and building society accounts, for example, and the Orange Quick Tap app will be available on new Android handsets in the coming weeks, but it is O2 taking all the headlines with the launch of its all-encompassing O2 Wallet this week."

Payments 2012: Mobile Banking Users More Profitable and Loyal
"Those who use mobile banking are among the most loyal and profitable bank customers, according to Ginger Schmneltzer, SVP of digital channel management for SunTrust Bank. Schmeltzer, speaking during a session at the Payments 2012 industry conference organized by NACHA - The Electronic Payments Association, said SunTrust's mobile bankers are 32 percent more profitable than those who don't use the channel and tend to be more loyal. Additionally, Schmeltzer noted they are more active checking account users, and more frequent users of ATMs, call centers and branches."

Mobile payments: Tech titans move in, but consumers still trust banks
"If you had lunch recently at Boom Noodle at Seattle’s University Village, the server handed you your check in a folder, like at any restaurant. But this folder was different. This was Rail. Rail is a wireless device that integrates with point-of-sale systems to let diners swipe credit cards and pay their bills at the table, eliminating the need for servers to deal with payment processing at all. It’s also designed for a future when patrons dispense with the card and just use their phones to pay."

Are Mobile Payments in Trouble? (Source: mobiledia.com)
"Mobiledia examine the mobile banking industry and find that despite retailers, financial institutions, carriers and phone makers all banking on mobile payments, the emerging industry could hit a significant roadblock: reluctant consumers, concerned about privacy and security:"

Mobile Banking Updates - Feb 19

Barclays introduces Pingit - Mobile Banking app that lets you transfer money via text
"Barclays have release a mobile banking app called Pingit for BlackBerry smartphones. While a lot banks have been releasing apps where you can view your bank balance as well as transfer money, you could only do this between your own accounts. The Barclays Pingit app goes a step further and allows you to send money to other Barclay customers as well as non-Barclay customers. Better yet transfering money is as easy as sending a text."

Research and Markets: 2011 Mobile Banking Financial Institution Scorecard: Money Begins to Move on Mobile
"Consumer satisfaction with mobile banking is high and adoption is soaring as financial institutions move beyond mobile monitoring and into money movement with mobile P2P transfers and mobile remote deposit capture offerings. Javelin's third Mobile Banking Scorecard examines the 23 mobile banking offerings of the 25 largest retail banking financial institutions measured by deposits."

Intuit Releases iPad Banking App
"This week Intuit Financial Services announced the availability of its iPad application for banking. Banks and credit unions can offer the app to their customers under their own brand names through the Apple iTunes store. The Intuit Tablet Banking app for the iPad is similar to the company's mobile banking offerings for smartphones, but it takes advantage of the iPad's large screen by offering more robust graphics and interactivity."

The Data Digest: Mobile Banking Uptake
"The New York Times recently published an article based on a Forrester report (Mobile Is The New Face Of Engagement) about the uptake of smartphones worldwide in the years to come. And for 2011 it was estimated that just under 500 million smartphones were shipped. Knowing the drivers behind the growth of smartphones gives businesses confidence in mobile technology investment — even when uptake is currently still limited."

Mobile Banking Updates - Feb 9

Internet banking registers phenomenal growth
"With a new era of information technology the bank customers are also gradually shifting towards the internet banking and with over 100 percent growth, internet banking transactions value reached Rs 85 billion during first quarter of current fiscal year. Bankers said phenomenal growth was observed in the mobile and internet banking which was due to the higher consumer preferences and confidence on the usage of these systems for their financial transactions."

New Cellulant, Barclays Africa deal to encourage mobile financial services
"Kenya-based Cellulant, a provider of mobile financial services, announced a new deal with Barclays Africa aimed at fostering the development of new mobile financial products and services. The company said it will provide digital services for Barclays Africa in 12 African countries. Cellulant provides mobile banking for more than 32 banks in Africa and operates Africa’s leading mobile commerce network."

CHARGE Anywhere® Announces Strategic Agreement with Innovative Solutions and Services LTD of Greece
"CHARGE Anywhere® LLC, a leading provider of award-winning, secure mobile payment and payment gateway solutions, along with Innovative Solutions & Services LTD of Athens, Greece, announced today a Strategic Agreement. INSS will deploy the ComsGate® Payment Gateway, CHARGE Anywhere Retail POS and Mobile POS Payment Application Software and ComsGate Card Issuing Services that will enable consumer mobile payments on Apple®, Android(TM) and BlackBerry® phones."

Canadians Embracing Mobile Devices and Mobile Banking
"A recent poll for CIBC conducted by Harris/Decima revealed strong growth in smartphone ownership and affinity for mobile banking services among Canadian consumers. The poll found that:"