"Canadian payments provider Payfirma has signed an agreement with CIBC, one of the country's largest banks, to offer a mobile payments solution for CIBC business banking clients.
Payfirma offers a range of hardware and software solutions on a single platform to help businesses accept debit and credit card payments in stores, online through their company website or remotely using smartphones and tablets as mobile terminals, according to a news release.
Leveraging existing assets such as smartphones and tablets lowers the cost of entry for small businesses seeking to expand the payment options available to their clients, Payfirma said, while enabling businesses to collect payments anywhere with cellular service." Continue Reading
Showing posts with label CIBC. Show all posts
Showing posts with label CIBC. Show all posts
Wednesday, November 13, 2013
Tuesday, August 27, 2013
International Mobile Banking Updates - Aug 27
Consider Kenya’s Mobile Banking Model, CBN Told
"In order for mobile banking services to achieve a higher success rate in Nigeria, the Central Bank of Nigeria (CBN) has been advised to consider the Kenyan model. A report, which gave this recommendation, pointed out that Kenya’s mobile banking model seems to have defeated the vast difficulties associated with the cashless transaction platforms, saying that if employed by the CBN, this form of money transfer would cause the cashless policy to reach an unprecedented percentage of the unbanked population."
Mahindra Comviva's mobiquity mPayments Declared Best Mobile Banking Technology in Asia & Africa
"Mahindra Comviva, the global leader in providing mobile financial and VAS solutions, today announced its mobiquity mobile financial services platform has been awarded the best Mobile Banking Technology award by World Finance Technology Awards 2013, declared recently in London. Mahindra Comviva was recognized for its work in delivering relevant technology solutions for accelerating financial services growth in Asia and Africa."
SinoPac is first to launch mobile banking services
"Bank SinoPac (永豐銀行), the banking arm of SinoPac Financial Holding Co (永豐金控), yesterday launched mobile debit and credit card services, making it the first lender in Taiwan to tap the emerging mobile payment market. The new service, currently limited to 1,000 customers, allows them to pay for goods and services via their smartphones and tablets as mobile devices gain popularity."
Standard Bank’s mobile growth revealed
"Standard Bank says its mobile banking customers as at July 2013 have swelled to 3 million, representing a 58% increase from the same period last year. On Thursday (15 August) the group reported a 10% rise in headline earnings per share in the half-year to June period to 506 cents, and a dividend per share of 233 cents was declared. 'Sharply increased activity occurred through the mobile banking channels in South Africa offset by slightly lower activity through the group’s ATM network,' it said in its results presentation."
CIBC Mobile Banking app updated for Android and iOS
"CIBC has pushed out an update to their mobile banking app today for both Android and iOS. iOS (iPhone, iPod touch and iPad) is updated to version 4.5 and now supports multitasking for iPhone users, but the most notable change is on Android, now at version 2.0, as it bring a completely redesigned UI and optimized for devices (smartphone and tablets) running Ice Cream Sandwich or higher. Apart from the usual checking your account balance, transfer funds, finding branches and ATMs, the app allows CIBC customers to load up multiple cards, add an avatar to make the experience more personal, plus offers a ‘slide-out’ menu for easier navigation."
Financial inclusion and mobile banking
"The usual path of development has been one of developing countries catching up to their more prosperous brethren. From governance to technology, developing countries follow the lead of the developed world. Catching up is easier, being on the cutting edge infinitesimally harder. The advent of branchless banking has been contrary to the above mentioned trend, with developing countries such as Pakistan and Kenya taking the lead in the development of and innovation in the field."
ING Direct Australia develops new mobile app following complaints
"Complaints about its mobile banking app led ING Direct Australia to develop a new version which offered improved features with good security. Speaking at the Gartner Security & Risk Management Summit in Sydney, ING Direct Australia solution architect Johnathan Sharratt told delegates that its old app had a limited set of features."
Airtel Launches Mobile Banking with Equatorial Commercial Bank in Kenya
"Just after the signing of mobile banking agreement with Equity Bank, the ink has not dried and Airtel has partnered with Equatorial Commercial Bank with the same product. 'Mobile banking is a fast and growing phenomenon,' Airtel Kenya MD, Mr. Shivan Bhargava said at the launch event. 'With mobile banking business people can analyze their business transaction better thatn the cash transaction.'”
Consumers Rate the Best and Worst U.K Mobile Banking Apps in New Report from Xtreme Labs
"Xtreme Labs, the leader in mobile strategy and product development, today released a new report on the best and worst mobile banking apps in the U.K. as rated by customers themselves. The U.K. Banking Apps Report: Customer Reviews by Xtreme Labs analyzed customer reviews from the Apple App Store and the Google Play Store between May 18 and June 11, 2013 for the top 12 banks as ranked by total assets in the U.K."
Mobile, Internet banking to drive decline in cash use
"The UK Payments Council's latest report forecasts what the payments industry will look like in 10 years time. Overall, it predicts that card use by consumers will hit 17 billion in 2022, up 75% on last year's 10 billion. Meanwhile, the number of cash transactions is forecast to fall from 21 billion to 14 billion in 2022, with use of cards and mobile payments on the rise."
Banco de Venezuela launches m-banking initiative
"Venezuelan state-owned bank Banco de Venezuela (BDV) has launched a mobile banking initiative which will allow its clients to make transfers using smartphones and tablets, the company said in a release. BDV has launched the m-banking app, which can be downloaded for free or accessed via a URL, for Blackberry (Nasdaq: BBRY) and Android, and will soon provide a version for iOS."
"In order for mobile banking services to achieve a higher success rate in Nigeria, the Central Bank of Nigeria (CBN) has been advised to consider the Kenyan model. A report, which gave this recommendation, pointed out that Kenya’s mobile banking model seems to have defeated the vast difficulties associated with the cashless transaction platforms, saying that if employed by the CBN, this form of money transfer would cause the cashless policy to reach an unprecedented percentage of the unbanked population."
Mahindra Comviva's mobiquity mPayments Declared Best Mobile Banking Technology in Asia & Africa
"Mahindra Comviva, the global leader in providing mobile financial and VAS solutions, today announced its mobiquity mobile financial services platform has been awarded the best Mobile Banking Technology award by World Finance Technology Awards 2013, declared recently in London. Mahindra Comviva was recognized for its work in delivering relevant technology solutions for accelerating financial services growth in Asia and Africa."
SinoPac is first to launch mobile banking services
"Bank SinoPac (永豐銀行), the banking arm of SinoPac Financial Holding Co (永豐金控), yesterday launched mobile debit and credit card services, making it the first lender in Taiwan to tap the emerging mobile payment market. The new service, currently limited to 1,000 customers, allows them to pay for goods and services via their smartphones and tablets as mobile devices gain popularity."
Standard Bank’s mobile growth revealed
"Standard Bank says its mobile banking customers as at July 2013 have swelled to 3 million, representing a 58% increase from the same period last year. On Thursday (15 August) the group reported a 10% rise in headline earnings per share in the half-year to June period to 506 cents, and a dividend per share of 233 cents was declared. 'Sharply increased activity occurred through the mobile banking channels in South Africa offset by slightly lower activity through the group’s ATM network,' it said in its results presentation."
CIBC Mobile Banking app updated for Android and iOS
"CIBC has pushed out an update to their mobile banking app today for both Android and iOS. iOS (iPhone, iPod touch and iPad) is updated to version 4.5 and now supports multitasking for iPhone users, but the most notable change is on Android, now at version 2.0, as it bring a completely redesigned UI and optimized for devices (smartphone and tablets) running Ice Cream Sandwich or higher. Apart from the usual checking your account balance, transfer funds, finding branches and ATMs, the app allows CIBC customers to load up multiple cards, add an avatar to make the experience more personal, plus offers a ‘slide-out’ menu for easier navigation."
Financial inclusion and mobile banking
"The usual path of development has been one of developing countries catching up to their more prosperous brethren. From governance to technology, developing countries follow the lead of the developed world. Catching up is easier, being on the cutting edge infinitesimally harder. The advent of branchless banking has been contrary to the above mentioned trend, with developing countries such as Pakistan and Kenya taking the lead in the development of and innovation in the field."
ING Direct Australia develops new mobile app following complaints
"Complaints about its mobile banking app led ING Direct Australia to develop a new version which offered improved features with good security. Speaking at the Gartner Security & Risk Management Summit in Sydney, ING Direct Australia solution architect Johnathan Sharratt told delegates that its old app had a limited set of features."
Airtel Launches Mobile Banking with Equatorial Commercial Bank in Kenya
"Just after the signing of mobile banking agreement with Equity Bank, the ink has not dried and Airtel has partnered with Equatorial Commercial Bank with the same product. 'Mobile banking is a fast and growing phenomenon,' Airtel Kenya MD, Mr. Shivan Bhargava said at the launch event. 'With mobile banking business people can analyze their business transaction better thatn the cash transaction.'”
Consumers Rate the Best and Worst U.K Mobile Banking Apps in New Report from Xtreme Labs
"Xtreme Labs, the leader in mobile strategy and product development, today released a new report on the best and worst mobile banking apps in the U.K. as rated by customers themselves. The U.K. Banking Apps Report: Customer Reviews by Xtreme Labs analyzed customer reviews from the Apple App Store and the Google Play Store between May 18 and June 11, 2013 for the top 12 banks as ranked by total assets in the U.K."
Mobile, Internet banking to drive decline in cash use
"The UK Payments Council's latest report forecasts what the payments industry will look like in 10 years time. Overall, it predicts that card use by consumers will hit 17 billion in 2022, up 75% on last year's 10 billion. Meanwhile, the number of cash transactions is forecast to fall from 21 billion to 14 billion in 2022, with use of cards and mobile payments on the rise."
Banco de Venezuela launches m-banking initiative
"Venezuelan state-owned bank Banco de Venezuela (BDV) has launched a mobile banking initiative which will allow its clients to make transfers using smartphones and tablets, the company said in a release. BDV has launched the m-banking app, which can be downloaded for free or accessed via a URL, for Blackberry (Nasdaq: BBRY) and Android, and will soon provide a version for iOS."
Tuesday, May 14, 2013
International Mobile Banking Updates - May 14
Mobile banking apps to be tried on Everest
"Mountaineers Horacio Galanti and Horacio Cunietti have commenced a unique Himalayan expedition to summit Everest to mark the 60th anniversary of its first ascent. The expedition will also push the boundaries of mobile technology in extreme environments and help in the recovery of debris left behind on the world’s highest peak. While on their expedition, the duo are expected to subject Standard Chartered’s Breeze mobile banking apps to the rigors of some of the most challenging environments known by attempting to trade stocks and transfer funds during their journey."
Mobile money accelerates financial inclusion
"The volatile economic environment which has prevailed in Zimbabwe over the past decade largely contributed to the failure of telecoms and banking institutions to adopt mobile banking. But over the past year there has been a foray by telecommunication and banking institutions to establish mobile banking platforms. Examples of mobile banking products that have been launched include: Kingdom Bank’s Cellcard, Tetrad’s eMali, Econet Wireless’ Ecocash; Cabs Bank’s Textacash, Interfin Bank’s Cybercash and CBZ Bank’s mobile banking, among others."
Corporation Bank launches app for iPad, Android
"City-based Corporation Bank had launched an app for iPad and Android. The Bank recently had come out with a special mobile banking app through Android and iOS. This app can be downloaded free from app store for iOS and Google Play for Android phones and tablets. The bank is one of the first public sector banks to introduce transaction-based banking in tablet PCs and iPads."
Central Bank calls for tight security in mobile banking
"Bank of Uganda has urged banks to ensure that they operate a secure and robust mobile banking platform to protect customers’ mobile bank accounts. 'A number of banks are now offering mobile banking products. It is in light of this that I re-iterate that every new product comes with its attendant risks. It is imperative that potential risks are identified and appropriate mitigation measures developed,' Ben Sekabira, the acting executive director supervision, Bank of Uganda, said."
Valimo Offers over One Million Tele2 Norway’s Mobile Users Easy to Use Strong Authentication, Mobile ID and Legally Binding Electronic Signature
"Valimo, a leading solution provider for mobile user authentication and digital signature software, announces that Tele2 Norway, a major European mobile operator, has selected its Mobile ID authentication service platform. The Valimo solution will offer over one million Tele2 subscribers in Norway the opportunity to securely access services that require strong, two-factor authentication, such as internet banking or e-government applications, using their mobile phone to generate a legally-binding electronic signature. As a first step, this new service will enable highly secure and legally binding log-in for online and mobile banking with four major banks in Norway."
Kenyan mobile innovation hard to export
"Kenya's mobile banking innovation may prove difficult to export. The African country has led the way with an SMS-based payment service called M-Pesa, which launched in eastern India last month.The government's push to give all Indians the right to banking access bodes well. But financial regulations and fierce competition may mean M-Pesa in India will face higher hurdles than its Kenyan role model."
Capitec banking app on its way
"Capitec says its dedicated banking app will be coming near the end of its current financial year (February 2014), and will be designed to run on both smart and feature phones. This follows the recent launch of Absa‘s banking app on 10 April 2013 – the last of South Africa’s so-called “big banks” out the door with a dedicated mobile application. However, Capitec told BusinessTech that it does not feel pressured by the competition to released a specialised banking app for smartphones, indicating further that its digital plans differ from those of its competitors."
E-banking survey reveals surge in mobile banking
"Online research specialist Columinate has released the results of the second annual Internet Banking SITEisfaction survey, one of the most comprehensive reports on customers' usage and perceptions of e-banking in South Africa. The survey quizzed over 1,400 South African e-bankers on their online banking habits and attitudes, and revealed several interesting trends. Henk Pretorius, Columinate CEO, explains that the survey is important as it provides insights into one of the fastest changing areas of customer banking."
Mobile and Alternative Payments in Mexico
"The Mexican consumer financial services landscape is in the midst of great change, driven by the confluence of technological innovation, innovative forms of branch expansion, regulatory changes in consumer deposit accounts and bank cards, and a strong push to facilitate mobile banking and payments. Indeed, major banks and telecommunications companies, most notably Telcel, have launched mobile banking and payments platforms that we expect to gain significant traction in 2013. At stake is the transformation of the Mexican banking system--from remittances to redefining branch banking--which can address longstanding financial inclusion disparities by reaching tens of millions of consumers heretofore unable to participate in formal banking services."
Bell and RBC strike deal to launch a mobile payment service, will be available “by the end of the year”
"Mobile payments in Canada are slowly increasing in popularity and will gain even more traction this summer. Rogers recently teamed up with CIBC to launch ‘suretap’, and Bell announced a partnership with RBC this morning. The new mobile payment solution will only be available for RBC customers who download the RBC mobile banking app, plus have a compatible Bell smartphone. The mobile payment option will be included into the current RBC Mobile banking app, not a standalone app, and will appear on the homescreen menu. The app will allow users to purchase small ticket items (debit or credit) from their smartphone."
HSBC seeks balance between mobile payments, Hong Kong branch network
"The increased popularity of mobile payments in Hong Kong has pushed HSBC to invest in related technology, but the bank said it would not stop expanding its branch network. Diana Cesar, head of retail banking and wealth management at HSBC in Hong Kong, said the lender would strike a balance between different banking services, even as mobile banking emerged as a growth area. In the first quarter, average monthly HSBC mobile banking logins increased more than 60 per cent from last year, Cesar said at the launch of a wealth management app."
"Mountaineers Horacio Galanti and Horacio Cunietti have commenced a unique Himalayan expedition to summit Everest to mark the 60th anniversary of its first ascent. The expedition will also push the boundaries of mobile technology in extreme environments and help in the recovery of debris left behind on the world’s highest peak. While on their expedition, the duo are expected to subject Standard Chartered’s Breeze mobile banking apps to the rigors of some of the most challenging environments known by attempting to trade stocks and transfer funds during their journey."
Mobile money accelerates financial inclusion
"The volatile economic environment which has prevailed in Zimbabwe over the past decade largely contributed to the failure of telecoms and banking institutions to adopt mobile banking. But over the past year there has been a foray by telecommunication and banking institutions to establish mobile banking platforms. Examples of mobile banking products that have been launched include: Kingdom Bank’s Cellcard, Tetrad’s eMali, Econet Wireless’ Ecocash; Cabs Bank’s Textacash, Interfin Bank’s Cybercash and CBZ Bank’s mobile banking, among others."
Corporation Bank launches app for iPad, Android
"City-based Corporation Bank had launched an app for iPad and Android. The Bank recently had come out with a special mobile banking app through Android and iOS. This app can be downloaded free from app store for iOS and Google Play for Android phones and tablets. The bank is one of the first public sector banks to introduce transaction-based banking in tablet PCs and iPads."
Central Bank calls for tight security in mobile banking
"Bank of Uganda has urged banks to ensure that they operate a secure and robust mobile banking platform to protect customers’ mobile bank accounts. 'A number of banks are now offering mobile banking products. It is in light of this that I re-iterate that every new product comes with its attendant risks. It is imperative that potential risks are identified and appropriate mitigation measures developed,' Ben Sekabira, the acting executive director supervision, Bank of Uganda, said."
Valimo Offers over One Million Tele2 Norway’s Mobile Users Easy to Use Strong Authentication, Mobile ID and Legally Binding Electronic Signature
"Valimo, a leading solution provider for mobile user authentication and digital signature software, announces that Tele2 Norway, a major European mobile operator, has selected its Mobile ID authentication service platform. The Valimo solution will offer over one million Tele2 subscribers in Norway the opportunity to securely access services that require strong, two-factor authentication, such as internet banking or e-government applications, using their mobile phone to generate a legally-binding electronic signature. As a first step, this new service will enable highly secure and legally binding log-in for online and mobile banking with four major banks in Norway."
Kenyan mobile innovation hard to export
"Kenya's mobile banking innovation may prove difficult to export. The African country has led the way with an SMS-based payment service called M-Pesa, which launched in eastern India last month.The government's push to give all Indians the right to banking access bodes well. But financial regulations and fierce competition may mean M-Pesa in India will face higher hurdles than its Kenyan role model."
Capitec banking app on its way
"Capitec says its dedicated banking app will be coming near the end of its current financial year (February 2014), and will be designed to run on both smart and feature phones. This follows the recent launch of Absa‘s banking app on 10 April 2013 – the last of South Africa’s so-called “big banks” out the door with a dedicated mobile application. However, Capitec told BusinessTech that it does not feel pressured by the competition to released a specialised banking app for smartphones, indicating further that its digital plans differ from those of its competitors."
E-banking survey reveals surge in mobile banking
"Online research specialist Columinate has released the results of the second annual Internet Banking SITEisfaction survey, one of the most comprehensive reports on customers' usage and perceptions of e-banking in South Africa. The survey quizzed over 1,400 South African e-bankers on their online banking habits and attitudes, and revealed several interesting trends. Henk Pretorius, Columinate CEO, explains that the survey is important as it provides insights into one of the fastest changing areas of customer banking."
Mobile and Alternative Payments in Mexico
"The Mexican consumer financial services landscape is in the midst of great change, driven by the confluence of technological innovation, innovative forms of branch expansion, regulatory changes in consumer deposit accounts and bank cards, and a strong push to facilitate mobile banking and payments. Indeed, major banks and telecommunications companies, most notably Telcel, have launched mobile banking and payments platforms that we expect to gain significant traction in 2013. At stake is the transformation of the Mexican banking system--from remittances to redefining branch banking--which can address longstanding financial inclusion disparities by reaching tens of millions of consumers heretofore unable to participate in formal banking services."
Bell and RBC strike deal to launch a mobile payment service, will be available “by the end of the year”
"Mobile payments in Canada are slowly increasing in popularity and will gain even more traction this summer. Rogers recently teamed up with CIBC to launch ‘suretap’, and Bell announced a partnership with RBC this morning. The new mobile payment solution will only be available for RBC customers who download the RBC mobile banking app, plus have a compatible Bell smartphone. The mobile payment option will be included into the current RBC Mobile banking app, not a standalone app, and will appear on the homescreen menu. The app will allow users to purchase small ticket items (debit or credit) from their smartphone."
HSBC seeks balance between mobile payments, Hong Kong branch network
"The increased popularity of mobile payments in Hong Kong has pushed HSBC to invest in related technology, but the bank said it would not stop expanding its branch network. Diana Cesar, head of retail banking and wealth management at HSBC in Hong Kong, said the lender would strike a balance between different banking services, even as mobile banking emerged as a growth area. In the first quarter, average monthly HSBC mobile banking logins increased more than 60 per cent from last year, Cesar said at the launch of a wealth management app."
Tuesday, November 13, 2012
International Mobile Banking Updates - Nov 13
Mobile banking expands to include microfinance
"Mobile banking in the Philippines is expanding into microfinance to serve the lower-income market outside of the country’s major urban centers. Tricia Dizon, head of financial services at Smart Communications, said in a statement the telecommunications giant was helping launch mBank Philippines."
Mobilink to launch mobile financial services
"Mobilink is all set to enter the mobile banking segment as Waseela Bank – sister concern of Pakistan’s largest cellular operator – has obtained central bank’s approval to launch Mobile Financial Services (MFS) in Pakistan, sources familiar with the matter said and the company’s spokesperson also confirmed on Tuesday. A subsidy of Orascom Telecom – Mobilink’s parent company – Waseela Bank is said to launch its MFS operations by December this year; the State Bank of Pakistan (SBP) issued the licence on Monday, according to sources."
Leading Pakistan Mobile Banking Provider Uses IBM Cloud
"The FINANCIAL -- IBM announced that Monet, one of Pakistan’s leading mobile-commerce providers, has selected a customized IBM cloud-based solution that will enable the company to enhance service efficiency and expand its presence across the country. Launched in 2012, Monet provides banks, mobile network operators and branchless banking agents in Pakistan with a technology platform that offers end-users a simple interface through which they can access a wide range of financial services on their mobile phones."
Mobile banking to overtake online
"More people will be banking on their mobile phones and tablets than online within five years, Westpac group executive, retail and business banking, Jason Yetton says. Mr Yetton said the explosive growth in mobile banking over the past two years, with more than 1.58 million Westpac customers using their devices for transactions, will accelerate. Westpac estimates that the number of payments made across its digital platforms will exceed one billion transactions within five years, with a total value of $6.8 trillion."
Good banking apps can make consumers jump ship: ANZ Bank
"The quality of a banking app can have the power to make consumers switch banks, according to ANZ Bank's Group General Manager for Innovation Peter Dalton. All the major Australian banks have poured money into customer-facing mobile application development as smartphone and tablet penetration continues to soar. Around one in 10 ANZ Bank customers do their banking exclusively on their mobile devices. Its competitors are all going through similar growth in mobile banking, with Westpac boasting 1.58 million customers engaging the bank through mobile devices."
Federal Bank rolls out mobile fund transfer facility to merchants
"Federal Bank has launched a funds transfer facility to merchants and enterprises through mobile phone. The Kochi-based private sector lender’s IMPS-Merchant Payment Service, in association with National Payment Corporation of India, will enable customers to use their mobile phones to access bank accounts and transfer funds."
PC Financial to launch a mobile banking app “in the upcoming months”
"While some Canadian banking institutions are already plugging away at mobile payments, PC Financial is wrestling with launching a mobile app. The Loblaws driven financial service, provided by CIBC, has approximately 2.3 million customers and some people have been requesting an app for months. Having a mobile banking app is basically standard these days. Offering simple features like checking account status, transfer funds, find ATM’s or contacting the closest branch makes the banking experience a more pleasant one."
Going mobile
"First National Bank customers are now able to track their spending habits, check their balance and make electronic bill payments from their smartphones. FNB has created an enhanced Online Banking System and also introduced Mobile Banking. 'For generations, personal service has been the signature of The First National Bank of Brundidge,' said John Ramage, senior vice president of FNB."
Use of Mobile Banking Continues to Grow: Canadian Bankers Association
"The Canadian Bankers Association (CBA) today released the results of its latest study on How Canadians Bank, which explores the role that modern technologies are playing in consumer banking. The results reveal that Canadians continue to embrace new approaches to banking and see these innovations as adding value to their daily banking. Going forward, the research suggests change will continue, driven by the convenience of the Internet, and led by younger generations who tend to be the first adapters."
Mobile Phones Empowering the Rural Poor through Mobile Banking
"Mobile phones are as numerous in Rwanda as the beautiful panoramic views of its famous 'Thousand Hills'. This was all the more confirmed as Vestine Nyirabagande, Urwego Opportunity Bank’s (UOB) client, sat with a mobile phone on her lap. She laughed when asked how many of her neighbors have mobile phones. 'I don’t think there is anyone in this area who doesn’t have a mobile phone!' she said."
St George customers getting smarter and smarter with their banking
"The St George Bank says it is seeing an “unprecedented demand” from its customers wanting to do as much of their banking as possible on their smartphones, and that more than 60,000 of its 400,000 mobile banking customers are already only using their smartphone to do their banking."
"Mobile banking in the Philippines is expanding into microfinance to serve the lower-income market outside of the country’s major urban centers. Tricia Dizon, head of financial services at Smart Communications, said in a statement the telecommunications giant was helping launch mBank Philippines."
Mobilink to launch mobile financial services
"Mobilink is all set to enter the mobile banking segment as Waseela Bank – sister concern of Pakistan’s largest cellular operator – has obtained central bank’s approval to launch Mobile Financial Services (MFS) in Pakistan, sources familiar with the matter said and the company’s spokesperson also confirmed on Tuesday. A subsidy of Orascom Telecom – Mobilink’s parent company – Waseela Bank is said to launch its MFS operations by December this year; the State Bank of Pakistan (SBP) issued the licence on Monday, according to sources."
Leading Pakistan Mobile Banking Provider Uses IBM Cloud
"The FINANCIAL -- IBM announced that Monet, one of Pakistan’s leading mobile-commerce providers, has selected a customized IBM cloud-based solution that will enable the company to enhance service efficiency and expand its presence across the country. Launched in 2012, Monet provides banks, mobile network operators and branchless banking agents in Pakistan with a technology platform that offers end-users a simple interface through which they can access a wide range of financial services on their mobile phones."
Mobile banking to overtake online
"More people will be banking on their mobile phones and tablets than online within five years, Westpac group executive, retail and business banking, Jason Yetton says. Mr Yetton said the explosive growth in mobile banking over the past two years, with more than 1.58 million Westpac customers using their devices for transactions, will accelerate. Westpac estimates that the number of payments made across its digital platforms will exceed one billion transactions within five years, with a total value of $6.8 trillion."
Good banking apps can make consumers jump ship: ANZ Bank
"The quality of a banking app can have the power to make consumers switch banks, according to ANZ Bank's Group General Manager for Innovation Peter Dalton. All the major Australian banks have poured money into customer-facing mobile application development as smartphone and tablet penetration continues to soar. Around one in 10 ANZ Bank customers do their banking exclusively on their mobile devices. Its competitors are all going through similar growth in mobile banking, with Westpac boasting 1.58 million customers engaging the bank through mobile devices."
Federal Bank rolls out mobile fund transfer facility to merchants
"Federal Bank has launched a funds transfer facility to merchants and enterprises through mobile phone. The Kochi-based private sector lender’s IMPS-Merchant Payment Service, in association with National Payment Corporation of India, will enable customers to use their mobile phones to access bank accounts and transfer funds."
PC Financial to launch a mobile banking app “in the upcoming months”
"While some Canadian banking institutions are already plugging away at mobile payments, PC Financial is wrestling with launching a mobile app. The Loblaws driven financial service, provided by CIBC, has approximately 2.3 million customers and some people have been requesting an app for months. Having a mobile banking app is basically standard these days. Offering simple features like checking account status, transfer funds, find ATM’s or contacting the closest branch makes the banking experience a more pleasant one."
Going mobile
"First National Bank customers are now able to track their spending habits, check their balance and make electronic bill payments from their smartphones. FNB has created an enhanced Online Banking System and also introduced Mobile Banking. 'For generations, personal service has been the signature of The First National Bank of Brundidge,' said John Ramage, senior vice president of FNB."
Use of Mobile Banking Continues to Grow: Canadian Bankers Association
"The Canadian Bankers Association (CBA) today released the results of its latest study on How Canadians Bank, which explores the role that modern technologies are playing in consumer banking. The results reveal that Canadians continue to embrace new approaches to banking and see these innovations as adding value to their daily banking. Going forward, the research suggests change will continue, driven by the convenience of the Internet, and led by younger generations who tend to be the first adapters."
Mobile Phones Empowering the Rural Poor through Mobile Banking
"Mobile phones are as numerous in Rwanda as the beautiful panoramic views of its famous 'Thousand Hills'. This was all the more confirmed as Vestine Nyirabagande, Urwego Opportunity Bank’s (UOB) client, sat with a mobile phone on her lap. She laughed when asked how many of her neighbors have mobile phones. 'I don’t think there is anyone in this area who doesn’t have a mobile phone!' she said."
St George customers getting smarter and smarter with their banking
"The St George Bank says it is seeing an “unprecedented demand” from its customers wanting to do as much of their banking as possible on their smartphones, and that more than 60,000 of its 400,000 mobile banking customers are already only using their smartphone to do their banking."
Tuesday, November 6, 2012
International Mobile Banking Updates - Nov 6
International Business Machines Corp. : Leading Pakistan Mobile Banking Provider Uses IBM Cloud to Expand Delivery of Secure Financial Services on Mobile Phones
"IBM (NYSE: IBM) today announced that Monet, one of Pakistan's leading mobile-commerce providers, has selected a customized IBM cloud-based solution that will enable the company to enhance service efficiency and expand its presence across the country. Launched in 2012, Monet provides banks, mobile network operators and branchless banking agents in Pakistan with a technology platform that offers end-users a simple interface through which they can access a wide range of financial services on their mobile phones."
Surviscor Names CIBC as the Top Firm for Mobile Banking Services in Canada
"Canadians are relying more and more on mobile devices to access banking services, and CIBC is leading the charge according to Surviscor Inc. Among the big six banks in Canada, CIBC ranked #1 in Surviscor's inaugural Mobile Banking scorCard(TM), a comprehensive and objective assessment of features and functionality in the fastest growing delivery channel for e-banking. CIBC was closely followed by Scotiabank in second place, with National Bank rounding out the top three."
Fiserv helps Cambodian bank offer mobile banking, payments to unbanked
"Financial services tech provider Fiserv Inc. is helping Cambodia's ACLEDA Bank Plc. to extend its mobile banking and payments service to the unbanked using Fiserv's Mobiliti Reach tool. Fiserv said ACLEDA has offered Fiserv-supported mobile financial services to since 2010 but will now offer those services to consumers with no existing banking relationship of any kind."
Canadians are Slowly but Surely Becoming Comfortable with Mobile Banking, Study Suggests
"Smartphone ownership and mobile banking usage continue to rise in Canada, according to a new poll conducted by Harris/Decima for CIBC, who is Rogers' partner for Suretap, a mobile payments service. At least 44% of Canadians now own a smarthone, the study suggests, up significantly from 33% in 2011. Among those aged 18 to 24, 77% own one."
Call to regulate mobile phone banking
"THE government should come up with legislation to regulate mobile banking activities in the country to prevent service providers from abusing the system, a senior banking official has said. Since the adoption of multiple foreign currencies in 2009, Zimbabwe has witnessed a proliferation of mobile banking systems modelled on the one used in Kenya called M-PESA."
Standard Bank skips along beaten digital path
"Standard Bank says its mobile banking application has achieved 160,000 downloads since its launch four months ago. This activity, the bank says, translates into R1.3 billion transactions through this channel since it launched on 27 June 2012. It also announced that its banking app, which is available on iOS, Android, and BlackBerry, would also be the first SA banking app in the Windows 8 app store."
Survey reveals only 1 in 4 expats using mobile banking services abroad
"A recent survey conducted by ExpatForum.com in conjunction with Barclays International showed that most expats “never use” mobile banking tools, despite holding several bank accounts in different countries. The study polled 10,000 expats to find out how they manage their finances while working abroad. Of the respondents, 73% said they “never” accessed their bank accounts from a smartphone or tablet device, 17% reported that they “occasionally” used mobile banking platforms, and “10%” “frequently” checked bank accounts while on the go."
Metaforic to Demonstrate Mobile Software Security at FinovateAsia
"Metaforic, the innovative software security company, today announced that it will demonstrate its latest technology at FinovateAsia on November 6. The demonstration will showcase Metaforic’s ability to detect and respond to a range of security threats against mobile financial applications. Mobile app security is becoming increasingly critical as mobile services and transactions increase. In the latest incident, NatWest Bank had to pull its mobile banking app after fraudsters managed to steal thousands of pounds from customers."
Bank of Africa selects Clear2Pay's mobile internet banking platform
"Bank of Africa, a subsidiary of BMCE Bank, has added Clear2Pay's Mobile Internet Banking (MIB) technology to help its customers with mobile financial services in 13 launching countries. The bank witnessed a rapid growth in business covering 14 geographies in the African continent, where it manages 1.4 million bank accounts, an increase of 24% since 2011. The new system, which is capable to integrate with the bank's existing e-Banking application, will also help to trim operational costs, while boosting customer satisfaction."
"IBM (NYSE: IBM) today announced that Monet, one of Pakistan's leading mobile-commerce providers, has selected a customized IBM cloud-based solution that will enable the company to enhance service efficiency and expand its presence across the country. Launched in 2012, Monet provides banks, mobile network operators and branchless banking agents in Pakistan with a technology platform that offers end-users a simple interface through which they can access a wide range of financial services on their mobile phones."
Surviscor Names CIBC as the Top Firm for Mobile Banking Services in Canada
"Canadians are relying more and more on mobile devices to access banking services, and CIBC is leading the charge according to Surviscor Inc. Among the big six banks in Canada, CIBC ranked #1 in Surviscor's inaugural Mobile Banking scorCard(TM), a comprehensive and objective assessment of features and functionality in the fastest growing delivery channel for e-banking. CIBC was closely followed by Scotiabank in second place, with National Bank rounding out the top three."
Fiserv helps Cambodian bank offer mobile banking, payments to unbanked
"Financial services tech provider Fiserv Inc. is helping Cambodia's ACLEDA Bank Plc. to extend its mobile banking and payments service to the unbanked using Fiserv's Mobiliti Reach tool. Fiserv said ACLEDA has offered Fiserv-supported mobile financial services to since 2010 but will now offer those services to consumers with no existing banking relationship of any kind."
Canadians are Slowly but Surely Becoming Comfortable with Mobile Banking, Study Suggests
"Smartphone ownership and mobile banking usage continue to rise in Canada, according to a new poll conducted by Harris/Decima for CIBC, who is Rogers' partner for Suretap, a mobile payments service. At least 44% of Canadians now own a smarthone, the study suggests, up significantly from 33% in 2011. Among those aged 18 to 24, 77% own one."
Call to regulate mobile phone banking
"THE government should come up with legislation to regulate mobile banking activities in the country to prevent service providers from abusing the system, a senior banking official has said. Since the adoption of multiple foreign currencies in 2009, Zimbabwe has witnessed a proliferation of mobile banking systems modelled on the one used in Kenya called M-PESA."
Standard Bank skips along beaten digital path
"Standard Bank says its mobile banking application has achieved 160,000 downloads since its launch four months ago. This activity, the bank says, translates into R1.3 billion transactions through this channel since it launched on 27 June 2012. It also announced that its banking app, which is available on iOS, Android, and BlackBerry, would also be the first SA banking app in the Windows 8 app store."
Survey reveals only 1 in 4 expats using mobile banking services abroad
"A recent survey conducted by ExpatForum.com in conjunction with Barclays International showed that most expats “never use” mobile banking tools, despite holding several bank accounts in different countries. The study polled 10,000 expats to find out how they manage their finances while working abroad. Of the respondents, 73% said they “never” accessed their bank accounts from a smartphone or tablet device, 17% reported that they “occasionally” used mobile banking platforms, and “10%” “frequently” checked bank accounts while on the go."
Metaforic to Demonstrate Mobile Software Security at FinovateAsia
"Metaforic, the innovative software security company, today announced that it will demonstrate its latest technology at FinovateAsia on November 6. The demonstration will showcase Metaforic’s ability to detect and respond to a range of security threats against mobile financial applications. Mobile app security is becoming increasingly critical as mobile services and transactions increase. In the latest incident, NatWest Bank had to pull its mobile banking app after fraudsters managed to steal thousands of pounds from customers."
Bank of Africa selects Clear2Pay's mobile internet banking platform
"Bank of Africa, a subsidiary of BMCE Bank, has added Clear2Pay's Mobile Internet Banking (MIB) technology to help its customers with mobile financial services in 13 launching countries. The bank witnessed a rapid growth in business covering 14 geographies in the African continent, where it manages 1.4 million bank accounts, an increase of 24% since 2011. The new system, which is capable to integrate with the bank's existing e-Banking application, will also help to trim operational costs, while boosting customer satisfaction."
Monday, July 2, 2012
International Mobile Banking Updates - Jul 2
Mobile Banking: Is it a Banking Solution To The Unbanked in Africa?
"Banking the unbanked especially in African countries has for along time been a major predicament. Due to the low level of technology, illiteracy, under development, and lack of proper awareness, the banking sector has been lagging unlike others such as IT and other sectors in the industry."
Emerging economies embrace banking innovations
"When it comes to reaching the unbanked in developing countries, there's room for all players. Worldwide, the unbanked population is estimated at 2.5 billion adults, including 80 percent in Africa, 40 percent in India and 64 percent in rural China. The established means of reaching out to the unbanked in such markets is the ATM. And research indicates that over the next five years, China, India and Africa will be three of four biggest markets for deployment of new or replacement ATMs — with North America rounding out the list."
Connected consumers go where banks haven't
"iWallet, PayPal, apps may grow faster than banking innovation. The banking industry has been given a warning: beware of new competitors stealing traditional financial services via technology. Consumers with mobile devices have the potential to access financial services outside bank offerings, says Bob Hayward, a keynote speaker at the Retail Financial Services Forum in Sydney last week."
Rise of the 'Smartphonatics'
"A recent report by ACI Research and the Aite Group identified a new category of smartphones users, or “Smartphonatics”, who change their financial, payment and shopping behaviour as a result of owning a smartphone. The report is based on a survey of 4 200 consumers, in 14 countries, in the first quarter of this year. The survey was conducted in order to gain insight into the worldwide adoption patterns for mobile banking and payments."
CIBC Continues its Leadership in Mobile Financial Services with the Launch of New Text Message Alerts
"CIBC today announced it has launched powerful new text message (SMS) customer Alerts, continuing its leadership in mobile financial services. The new Alerts bring important financial information to clients at a time and place that's convenient for them through their smartphone, or through email or online banking, to help clients manage their day to day finances. The Alerts range from reminding clients about upcoming credit card payments and due dates so they don't inadvertently miss a payment, to information on future-dated bills or transfers to ensure clients have adequate balances and can avoid late payment fees. Text message Alerts to mobile devices, combined with CIBC's award-winning Mobile Banking, empowers clients to effectively and conveniently manage their finances, wherever they are."
Sungard introduces new ‘solution’ to improve banking services
"As the global financial crisis continues to take its toll on financial institutions and countries worldwide, Sungard introduces its Ambit Core Banking Solution that aims to help banks improve their management processes. Ambit Core Banking Solution “is a universal banking system that provides comprehensive instrument and product coverage for retail deposits and lending, commercial banking, trade finance, and treasury management,” Sungard said in a statement."
Kiwibank’s iPhone App Puts A Service Rep In Everyone’s Pocket
"Kiwibank has released its mobile banking app for iPhones. The app is part of a suite of online innovations pouring from the bank intended to revolutionize how people bank online. Kiwibank’s first iPhone app has been much anticipated. While most of the world’s big financial institutions have had smart phone apps deployed for months, even years, Kiwibank was among the few holdouts. But it was worth the wait."
FNB banking app hits transactions landmark
"Since launching its mobile banking application on the 20th July 2011, FNB has seen over R4 billion in transactions go through the app. This is according to Michael Jordaan, who announced the figures this afternoon (26 June 2012) via his Twitter account."
"Banking the unbanked especially in African countries has for along time been a major predicament. Due to the low level of technology, illiteracy, under development, and lack of proper awareness, the banking sector has been lagging unlike others such as IT and other sectors in the industry."
Emerging economies embrace banking innovations
"When it comes to reaching the unbanked in developing countries, there's room for all players. Worldwide, the unbanked population is estimated at 2.5 billion adults, including 80 percent in Africa, 40 percent in India and 64 percent in rural China. The established means of reaching out to the unbanked in such markets is the ATM. And research indicates that over the next five years, China, India and Africa will be three of four biggest markets for deployment of new or replacement ATMs — with North America rounding out the list."
Connected consumers go where banks haven't
"iWallet, PayPal, apps may grow faster than banking innovation. The banking industry has been given a warning: beware of new competitors stealing traditional financial services via technology. Consumers with mobile devices have the potential to access financial services outside bank offerings, says Bob Hayward, a keynote speaker at the Retail Financial Services Forum in Sydney last week."
Rise of the 'Smartphonatics'
"A recent report by ACI Research and the Aite Group identified a new category of smartphones users, or “Smartphonatics”, who change their financial, payment and shopping behaviour as a result of owning a smartphone. The report is based on a survey of 4 200 consumers, in 14 countries, in the first quarter of this year. The survey was conducted in order to gain insight into the worldwide adoption patterns for mobile banking and payments."
CIBC Continues its Leadership in Mobile Financial Services with the Launch of New Text Message Alerts
"CIBC today announced it has launched powerful new text message (SMS) customer Alerts, continuing its leadership in mobile financial services. The new Alerts bring important financial information to clients at a time and place that's convenient for them through their smartphone, or through email or online banking, to help clients manage their day to day finances. The Alerts range from reminding clients about upcoming credit card payments and due dates so they don't inadvertently miss a payment, to information on future-dated bills or transfers to ensure clients have adequate balances and can avoid late payment fees. Text message Alerts to mobile devices, combined with CIBC's award-winning Mobile Banking, empowers clients to effectively and conveniently manage their finances, wherever they are."
Sungard introduces new ‘solution’ to improve banking services
"As the global financial crisis continues to take its toll on financial institutions and countries worldwide, Sungard introduces its Ambit Core Banking Solution that aims to help banks improve their management processes. Ambit Core Banking Solution “is a universal banking system that provides comprehensive instrument and product coverage for retail deposits and lending, commercial banking, trade finance, and treasury management,” Sungard said in a statement."
Kiwibank’s iPhone App Puts A Service Rep In Everyone’s Pocket
"Kiwibank has released its mobile banking app for iPhones. The app is part of a suite of online innovations pouring from the bank intended to revolutionize how people bank online. Kiwibank’s first iPhone app has been much anticipated. While most of the world’s big financial institutions have had smart phone apps deployed for months, even years, Kiwibank was among the few holdouts. But it was worth the wait."
FNB banking app hits transactions landmark
"Since launching its mobile banking application on the 20th July 2011, FNB has seen over R4 billion in transactions go through the app. This is according to Michael Jordaan, who announced the figures this afternoon (26 June 2012) via his Twitter account."
Tuesday, May 22, 2012
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."
"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."
Tuesday, April 3, 2012
Tablet Mobile Banking - Apr 3
How To Create A Superior Tablet Banking App
"Tablet use in the United States is expected to more than double over the coming year, from its current base of 16 million consumers, according to a Mobile Banking, Smartphone and Tablet Forecast: 2011-2016 report from Javelin Strategy and Research. The Pleasanton, Calif.-based firm also projects that by 2016, 40% of U.S. mobile consumers, or 87 million people, will own a tablet.
Considering the enormity of these numbers, including a tablet-specific application in their mobile offerings should be a no-brainer for banks, especially since mobile banking users are prevalent among early tablet adopters, asserts Mary Monahan, EVP and research director at Javelin. However, she warned, 'Just porting over a smartphone app to a tablet doesn't count as a tablet-specific offering.'"
Canada's First Mobile Banking App Comes to the iPad
"CIBC introduces a Mobile Banking App designed specifically for iPad users. CIBC, the first bank in Canada to deliver a mobile banking app in 2010, today announced the launch of a Mobile Banking App designed specifically for the iPad.
Today's launch makes CIBC the first major bank in Canada to deliver a native iPad mobile banking app, building on CIBC's leadership in mobile financial services. The app enables CIBC clients to bank on their iPad using new interactive graphics and visuals, and leverages the full screen and capabilities of the iPad."
CIBC launches mobile banking app for iPad
"Canadian banks of hopping on the mobile banking app train. The last stat to be released was from last November that showed 35% of Canadians surveyed have done some banking on their mobile device, but security was still an issue. Most banks (CIBC, RBC, ING, TD, HSBC, Desjardins, BMO) have an app that does basic features such as finding an ATM, bill payment, transfer funds, account status."
"Tablet use in the United States is expected to more than double over the coming year, from its current base of 16 million consumers, according to a Mobile Banking, Smartphone and Tablet Forecast: 2011-2016 report from Javelin Strategy and Research. The Pleasanton, Calif.-based firm also projects that by 2016, 40% of U.S. mobile consumers, or 87 million people, will own a tablet.
Considering the enormity of these numbers, including a tablet-specific application in their mobile offerings should be a no-brainer for banks, especially since mobile banking users are prevalent among early tablet adopters, asserts Mary Monahan, EVP and research director at Javelin. However, she warned, 'Just porting over a smartphone app to a tablet doesn't count as a tablet-specific offering.'"
Canada's First Mobile Banking App Comes to the iPad
"CIBC introduces a Mobile Banking App designed specifically for iPad users. CIBC, the first bank in Canada to deliver a mobile banking app in 2010, today announced the launch of a Mobile Banking App designed specifically for the iPad.
Today's launch makes CIBC the first major bank in Canada to deliver a native iPad mobile banking app, building on CIBC's leadership in mobile financial services. The app enables CIBC clients to bank on their iPad using new interactive graphics and visuals, and leverages the full screen and capabilities of the iPad."
CIBC launches mobile banking app for iPad
"Canadian banks of hopping on the mobile banking app train. The last stat to be released was from last November that showed 35% of Canadians surveyed have done some banking on their mobile device, but security was still an issue. Most banks (CIBC, RBC, ING, TD, HSBC, Desjardins, BMO) have an app that does basic features such as finding an ATM, bill payment, transfer funds, account status."
Thursday, February 9, 2012
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:"
"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:"
Thursday, January 26, 2012
Mobile Banking Updates - Jan 26
CIBC the first bank in Canada to deliver a mobile version of its website featuring advice and information for clients
"CIBC has introduced a new, mobile version of CIBC.com, allowing Canadians with a smartphone to view advice and information on the site through a new client interface that perfectly fits the site onto the screen of their mobile device. The new site is another innovation as part of CIBC's leadership position in mobile financial services for Canadians, having launched the first mobile banking App in Canada in 2010, and becoming the first bank in Canada to launch a mobile stock trading App in 2011."
First Fidelity Bank launches mobile deposit app
"First Fidelity Bank, a locally owned full-service community bank, has launched a mobile application that allows business and personal banking clients to make deposits using their smartphones. The bank is the only Oklahoma-owned bank and one of a handful of banks nationwide to launch a mobile deposit app."
Tips for 2012: Top EMV Ignition Strategies and Mobile Security Solutions
"Mobile Security - Although discussions of mobile payment security have long focused on security at the physical POS, the real story for mobile security in 2012 will be how to better secure the hundreds of billions of dollars of financial transactions that are already taking place via mobile handsets."
UK Consumers Willing to Pay £4.20 per Month for Digital Banking, says PwC
"Consumers in the UK would be willing to pay around £4.20 a month for digital banking services, according to a survey from PricewaterhouseCoopers. 66 per cent, meanwhile, would be willing to pay for a Twitter or Facebook notification of a transaction.
The New Digital Tipping Point predicts that digital banking will overtake branch networks as the main way that customers deal with their banks by 2015. Emerging markets are "leapfrogging" online banking, the report claims, and going straight to mobile."
The Hard Cell-Time to Invest in Mobile Sales
"Mobile banking is no longer coming. It is already happening. Every major UK bank now offers a reasonable service for multiple platforms. Core online banking functionality has been replicated. Consumer adoption of the channel is high. Great job everyone, right? Unfortunately not...One of the consequences of all this growth is that mobile banking users are moving away from using traditional channels; channels that currently offer greater opportunity to cross-sell products and services. Because most banks offer little to no sales capability on their mobile banking service, a big sales gap is beginning to emerge. It’s time for banks to sort out their mobile sales strategy."
"CIBC has introduced a new, mobile version of CIBC.com, allowing Canadians with a smartphone to view advice and information on the site through a new client interface that perfectly fits the site onto the screen of their mobile device. The new site is another innovation as part of CIBC's leadership position in mobile financial services for Canadians, having launched the first mobile banking App in Canada in 2010, and becoming the first bank in Canada to launch a mobile stock trading App in 2011."
First Fidelity Bank launches mobile deposit app
"First Fidelity Bank, a locally owned full-service community bank, has launched a mobile application that allows business and personal banking clients to make deposits using their smartphones. The bank is the only Oklahoma-owned bank and one of a handful of banks nationwide to launch a mobile deposit app."
Tips for 2012: Top EMV Ignition Strategies and Mobile Security Solutions
"Mobile Security - Although discussions of mobile payment security have long focused on security at the physical POS, the real story for mobile security in 2012 will be how to better secure the hundreds of billions of dollars of financial transactions that are already taking place via mobile handsets."
UK Consumers Willing to Pay £4.20 per Month for Digital Banking, says PwC
"Consumers in the UK would be willing to pay around £4.20 a month for digital banking services, according to a survey from PricewaterhouseCoopers. 66 per cent, meanwhile, would be willing to pay for a Twitter or Facebook notification of a transaction.
The New Digital Tipping Point predicts that digital banking will overtake branch networks as the main way that customers deal with their banks by 2015. Emerging markets are "leapfrogging" online banking, the report claims, and going straight to mobile."
The Hard Cell-Time to Invest in Mobile Sales
"Mobile banking is no longer coming. It is already happening. Every major UK bank now offers a reasonable service for multiple platforms. Core online banking functionality has been replicated. Consumer adoption of the channel is high. Great job everyone, right? Unfortunately not...One of the consequences of all this growth is that mobile banking users are moving away from using traditional channels; channels that currently offer greater opportunity to cross-sell products and services. Because most banks offer little to no sales capability on their mobile banking service, a big sales gap is beginning to emerge. It’s time for banks to sort out their mobile sales strategy."
Wednesday, September 28, 2011
International Mobile Banking Updates - Sept 28
CIBC Recognized as "Best in Mobile Banking" in North America by Global Finance Magazine
"CIBC today announced that it is being recognized by Global Finance Magazine as 'Best in Mobile Banking' among North American Consumer Internet banks. This is the first year the mobile banking category has been included in the Global Finance awards, reflecting the emergence of mobile technology as a rapidly growing area in North American banking."
The REAL reason why Kenya's M-Pesa won’t work anywhere else
"In a continent where less than 20% of Africa’s population has a bank account and where latent demand for money services is so high, why are there no other success stories on the scale of Safaricom’s MPesa service, in Kenya?
MPesa launched in 2007 into a vacuum of clear guidelines and precedents that dictated how money could move around a mobile ecosystem. Thanks to a loophole in the banking regulations the service did not, at that time, require a banking license to operate."
Tuesday, March 9, 2010
Mobile Banking in Canada
Lately, I've been noticing a lot of mobile banking news coming from Canada. Here are a few of the articles that caught my attention.
Ready to bank on your smart phone?
"Less than 10 per cent of Canadians are using mobile banking, but experts say it won't be long before the service is more popular than online banking. Research suggests that consumers in this country would prefer to check their bank balances, transfer money, or pay their bills while sitting on their morning train commute or standing in line at the coffee shop rather than at their office or home computer."
Mobile banking and investing coming
"A growing number of investors have turned to their computers and online brokers for cheaper, more efficient handling of their portfolios. Will the smartphone be next in their arsenal of investment tools? Canadian Imperial Bank of Commerce made a splash recently when it claimed to be the first major Canadian bank to offer a mobile banking application for Apple's iPhone."
Canadian firms finally getting into wireless: Analysts
"Krista Napier, a senior analyst at IDC Canada covering Canadian competitive intelligence and emerging technologies predicted, that enterprises here will embrace wireless business applications more than ever, while banks will allow wireless banking for the first time.
'We expect to see the big five banks either announcing or launching their mobile banking initiatives,' Napier said in an interview after the event. 'Scotiabank will be the first in the spring, and we expect the others to be making announcements later in the year.' [CIBC already offers mobile banking.]"
Scotiabank Introduces Mobile Banking Services
"Scotiabank has announced two new mobile services to help keep customers informed. The first is Scotia InfoAlerts, a service that notifies customers via text message or e-mail of transactional activities in their accounts. The second is an application for the iPhone and iPod touch or Blackberry smartphones, providing Canadians with a GPS locator for Scotiabank branches and ATMs."
Zoompass Trials Mobile Payment Tag
"Zoompass, a mobile payment service launched last year by a consortium of Canadian telecom players, is branching out with the introduction of a wireless payment sticker that can be attached to a mobile phone, effectively turning it into a “tap-and-pay” debit card system. Zoompass was developed by EnStream, a partnership among Canada’s three major telecom companies: Bell Mobility, Rogers Communications and Telus Corp. The service allows members to send money to friends or family with their handheld device via an iPhone app, BlackBerry app, etc., and to pay for products and services through a credit card linked to their Zoompass account."
Mobile banking continues to rise with Canada’s Telus and ATB Financial
"Telus today announced that ATB Financial has adopted the Telus Mobile Banking system. After a 90 day pilot period, the service will be rolled out for free to all ATB customers. The services will be used to provided access to secure account management and information over your mobile.
ATB customers will be able to view account balances, see recent transactions and transfer funds using SMS or mobile web, so the service can be used from virtually any mobile phone."
Mobile Webpages for Banks in Canada:
Scotiabank
RBC Royal Bank
TD Canada
CIBC
Ready to bank on your smart phone?
"Less than 10 per cent of Canadians are using mobile banking, but experts say it won't be long before the service is more popular than online banking. Research suggests that consumers in this country would prefer to check their bank balances, transfer money, or pay their bills while sitting on their morning train commute or standing in line at the coffee shop rather than at their office or home computer."
Mobile banking and investing coming
"A growing number of investors have turned to their computers and online brokers for cheaper, more efficient handling of their portfolios. Will the smartphone be next in their arsenal of investment tools? Canadian Imperial Bank of Commerce made a splash recently when it claimed to be the first major Canadian bank to offer a mobile banking application for Apple's iPhone."
Canadian firms finally getting into wireless: Analysts
"Krista Napier, a senior analyst at IDC Canada covering Canadian competitive intelligence and emerging technologies predicted, that enterprises here will embrace wireless business applications more than ever, while banks will allow wireless banking for the first time.
'We expect to see the big five banks either announcing or launching their mobile banking initiatives,' Napier said in an interview after the event. 'Scotiabank will be the first in the spring, and we expect the others to be making announcements later in the year.' [CIBC already offers mobile banking.]"
Scotiabank Introduces Mobile Banking Services
"Scotiabank has announced two new mobile services to help keep customers informed. The first is Scotia InfoAlerts, a service that notifies customers via text message or e-mail of transactional activities in their accounts. The second is an application for the iPhone and iPod touch or Blackberry smartphones, providing Canadians with a GPS locator for Scotiabank branches and ATMs."
Zoompass Trials Mobile Payment Tag
"Zoompass, a mobile payment service launched last year by a consortium of Canadian telecom players, is branching out with the introduction of a wireless payment sticker that can be attached to a mobile phone, effectively turning it into a “tap-and-pay” debit card system. Zoompass was developed by EnStream, a partnership among Canada’s three major telecom companies: Bell Mobility, Rogers Communications and Telus Corp. The service allows members to send money to friends or family with their handheld device via an iPhone app, BlackBerry app, etc., and to pay for products and services through a credit card linked to their Zoompass account."
Mobile banking continues to rise with Canada’s Telus and ATB Financial
"Telus today announced that ATB Financial has adopted the Telus Mobile Banking system. After a 90 day pilot period, the service will be rolled out for free to all ATB customers. The services will be used to provided access to secure account management and information over your mobile.
ATB customers will be able to view account balances, see recent transactions and transfer funds using SMS or mobile web, so the service can be used from virtually any mobile phone."
Mobile Webpages for Banks in Canada:
Scotiabank
RBC Royal Bank
TD Canada
CIBC
Tuesday, February 2, 2010
Mobile Banking Updates - Feb 2
VeriFone’s PAYware Mobile Now Available on iPhone App Store
"VeriFone Holdings has announced that it is shipping its PAYware Mobile secure credit card encryption sleeve for iPhone and that the complementary PAYware Mobile app is now available on the App Store.
According to VeriFone, 'PAYware Mobile provides small businesses with simple and secure card processing capabilities using the revolutionary iPhone. The app and patent-pending card encryption technology are provided free in conjunction with a low cost PAYware gateway services agreement.'"
CIBC becomes first major Canadian bank to offer a Mobile Banking App for iPhone
"CIBC today announced its CIBC Mobile Banking App is available from the App Store, offering greater flexibility and choice for CIBC clients to bank on the go by becoming the first major bank in Canada to offer a mobile banking App for iPhone. The App gives CIBC clients the flexibility to use their iPhone or iPod touch to check account balances, transfer funds, pay bills and even send INTERAC Email Money Transfers."
"VeriFone Holdings has announced that it is shipping its PAYware Mobile secure credit card encryption sleeve for iPhone and that the complementary PAYware Mobile app is now available on the App Store.
According to VeriFone, 'PAYware Mobile provides small businesses with simple and secure card processing capabilities using the revolutionary iPhone. The app and patent-pending card encryption technology are provided free in conjunction with a low cost PAYware gateway services agreement.'"
CIBC becomes first major Canadian bank to offer a Mobile Banking App for iPhone
"CIBC today announced its CIBC Mobile Banking App is available from the App Store, offering greater flexibility and choice for CIBC clients to bank on the go by becoming the first major bank in Canada to offer a mobile banking App for iPhone. The App gives CIBC clients the flexibility to use their iPhone or iPod touch to check account balances, transfer funds, pay bills and even send INTERAC Email Money Transfers."
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