Showing posts with label Canada. Show all posts
Showing posts with label Canada. Show all posts
Wednesday, October 30, 2013
Canadians' appetite for mobile banking on the rise
"Though online banking remains king when it comes to Canadians' preference for how they bank, an increasing number of Canadians are beginning to embrace mobile. According to a recent survey by ING DIRECT, 41 per cent of Canadians say they are open to doing more traditional banking functions, like paying bills, on their mobile devices, a number that has climbed from 38 per cent since 2012. One in 10 (10%) Canadians say they use their mobile device to do banking several times a week, a number that increases to one in five (20%) Canadians when looking exclusively at 18 - 34 year olds." Continue Reading
Tuesday, October 15, 2013
Mobile banking app usage grows in Canada
"A survey by BMO Bank of Montreal has found that mobile banking apps are growing in popularity in Canada. BMO said two-thirds of the 1,000 Canadians it surveyed in August have downloaded a mobile banking app in the last year.
'There has been a significant rise in mobile banking app usage in Canada,' Christie Christelis, president of the Canadian research firm Technology Strategies International, told Mobile Payments Today. 'People are getting more confident about using mobile banking apps.'" Continue Reading
Monday, September 30, 2013
Geography, Collaboration and Innovation in Canada’s Mobile Payments Market
"MasterCard ranked Canada the second most well prepared market in the world for mobile payments adoption last year (Singapore was no. 1). A big reason for that is the density of mobile payments players located here in the Greater Toronto Area in Ontario, where I am touring the ongoing development of the mobile payments ecosystem.
Simply put all the companies in the mobile payments industry here are neighbors, and seemingly friends. Toronto is the headquarters of all five of Canada’s big banks, as well as its three major telcos, Rogers, Bell and Telus. It is also the epicenter of Canada’s IT industry; Ontario is home to 50% of the industry’s GDP." Continue Reading
Simply put all the companies in the mobile payments industry here are neighbors, and seemingly friends. Toronto is the headquarters of all five of Canada’s big banks, as well as its three major telcos, Rogers, Bell and Telus. It is also the epicenter of Canada’s IT industry; Ontario is home to 50% of the industry’s GDP." Continue Reading
Tuesday, August 20, 2013
International Mobile Banking Updates - Aug 20
Western Union expands mobile banking in Africa
"Western Union is growing its mobile banking function in Africa, aiming to complement the 27,000 physical agent locations spread across 50 countries. The company’s main focus is now on expanding its digital transaction channels, a good example being integrating with additional mobile networks and increasing the use of prepaid cards when customers receive money."
Cabinet directs on regulation of mobile money transactions
"The Cabinet has directed the Ministry of Finance to amend the law regulating the financial institutions with the view of including regulations that govern Islamic banking and mobile money transactions. The regulation if passed will hold those responsible for money transfer businesses in cases of breach of contract or any dubious transaction. The new law will also regulate Islamic banking, thus widening the scope of customer choices in terms of banking."
ENTREVESTOR: Dal team to unveil banking app for teens
"After a long and hectic summer, a group of entrepreneurs from Dalhousie University will unveil their financial app Purchext to angel investors in Toronto Tuesday as the final segment of the gruelling Next 36 course. Purchext is a company formed at Dalhousie last spring and its founders — Cam McDonald, Zachary Levy, and Daniel Bartek — took the project to the Next 36 program, a three-month academic/mentoring program for undergraduate entrepreneurs. The graduation from the program includes pitches to angel investors."
Canada’s Desjardins financial cooperative pushes NFC offering
"Canada is seeing a fresh push to promote near field communication (NFC) services after Canadian cooperative financial group Desjardin signed a deal with mobile money solutions provider Monitise and a joint venture with the nation’s three largest mobile operators. Under the terms of the partnership, Monitise will provide the NFC-enabled mobile payment application; the technology will allow Desjardins members and clients to make purchases at Canadian retailers using their smartphone."
Monitise sees revenues surge as mobile banking takes off
"In our technology focussed world the mobile phone has become like an extra super-sensory organ to most of us, and nowadays that usually means a smartphone. Smartphone penetration is around 55% of the market and is expected to reach 80% by the end of 2015. We play games on them, read the news, catch up with friends and tweet our latest thoughts to all who care to listen. And now growing numbers of us are using them to pay our bills, shift money between our accounts and take advantage of vouchers and customer offers."
Bank Millennium SA : Best Internet Bank in Poland according to Global Finance magazine
"Bank Millennium has yet again scored first in the category "Best Consumer Internet Bank in Poland". Also the mobile banking app for companies was recognised. The awards were given by Global Finance independent financial magazine. According to the jury's verdict Bank Millennium is the Best Consumer Internet Bank in Poland and is also Best in Mobile Banking for Corporate/Institutional in CEE. The competition organisers i.a. appreciated the product offering available online, the functionality and design of the new website as well as growth of the number of online banking customers."
Global Differences in the Mobile Web: Emerging Markets Lead the Way in M-Commerce, Mobile Banking and New Technologies
"Netbiscuits, the global leader in software solutions for adaptive web experiences, today published additional findings from its study into consumer behavior on the mobile web. The latest data, extracted from the Netbiscuits People's Web Report and featuring responses from 5,000 consumers, found that the starkest differences in mobile usage were between developed and emerging markets. Deep-diving into the differences between consumer expectations around the world, the new evaluation of the People's Web Report findings gives a more detailed insight into how our lives are shaped by mobile."
Online banking security company Entersekt, wins Frost and Sullivan Award
"Online banking security company Entersekt, has today been awarded the 2013 South African Frost and Sullivan Award for Technology Leadership for its innovations in providing easy-to-use and secure mobile banking solutions. Transakt, as its app is called, offers an alternative method to online banking that claims to eliminate fraud and enhance transaction convenience of both the bank and customer. Frost & Sullivan Research Analyst Lehlohonolo Mokenela notes that Entersekt has received accreditation from the world’s largest payments networks American Express, MasterCard, and Visa and is the first and only company in Africa to earn all three of these certifications."
Daily use of mobile banking in Korea up 10.2 pct in Q2
"The daily use of mobile banking in South Korea rose 10.2 percent in the second quarter from three months earlier on the back of the growing popularity of smartphones, the central bank said Thursday. Transactions by mobile banking or banking services accessed via wireless handsets were valued at 1.39 trillion won (US$1.24 billion) per day in the April-June period, compared with 1.26 trillion won three months earlier, according to the Bank of Korea (BOK)."
Half of UK bank branches could close by 2020
"The increased use of online and mobile banking means that half of the UK’s building society and bank branches could close by 2020, a new report predicts. The Global Retail Banking report from Jones Lang LaSalle adds that the closures will be spurred on by increased use of debit and credit cards."
"Western Union is growing its mobile banking function in Africa, aiming to complement the 27,000 physical agent locations spread across 50 countries. The company’s main focus is now on expanding its digital transaction channels, a good example being integrating with additional mobile networks and increasing the use of prepaid cards when customers receive money."
Cabinet directs on regulation of mobile money transactions
"The Cabinet has directed the Ministry of Finance to amend the law regulating the financial institutions with the view of including regulations that govern Islamic banking and mobile money transactions. The regulation if passed will hold those responsible for money transfer businesses in cases of breach of contract or any dubious transaction. The new law will also regulate Islamic banking, thus widening the scope of customer choices in terms of banking."
ENTREVESTOR: Dal team to unveil banking app for teens
"After a long and hectic summer, a group of entrepreneurs from Dalhousie University will unveil their financial app Purchext to angel investors in Toronto Tuesday as the final segment of the gruelling Next 36 course. Purchext is a company formed at Dalhousie last spring and its founders — Cam McDonald, Zachary Levy, and Daniel Bartek — took the project to the Next 36 program, a three-month academic/mentoring program for undergraduate entrepreneurs. The graduation from the program includes pitches to angel investors."
Canada’s Desjardins financial cooperative pushes NFC offering
"Canada is seeing a fresh push to promote near field communication (NFC) services after Canadian cooperative financial group Desjardin signed a deal with mobile money solutions provider Monitise and a joint venture with the nation’s three largest mobile operators. Under the terms of the partnership, Monitise will provide the NFC-enabled mobile payment application; the technology will allow Desjardins members and clients to make purchases at Canadian retailers using their smartphone."
Monitise sees revenues surge as mobile banking takes off
"In our technology focussed world the mobile phone has become like an extra super-sensory organ to most of us, and nowadays that usually means a smartphone. Smartphone penetration is around 55% of the market and is expected to reach 80% by the end of 2015. We play games on them, read the news, catch up with friends and tweet our latest thoughts to all who care to listen. And now growing numbers of us are using them to pay our bills, shift money between our accounts and take advantage of vouchers and customer offers."
Bank Millennium SA : Best Internet Bank in Poland according to Global Finance magazine
"Bank Millennium has yet again scored first in the category "Best Consumer Internet Bank in Poland". Also the mobile banking app for companies was recognised. The awards were given by Global Finance independent financial magazine. According to the jury's verdict Bank Millennium is the Best Consumer Internet Bank in Poland and is also Best in Mobile Banking for Corporate/Institutional in CEE. The competition organisers i.a. appreciated the product offering available online, the functionality and design of the new website as well as growth of the number of online banking customers."
Global Differences in the Mobile Web: Emerging Markets Lead the Way in M-Commerce, Mobile Banking and New Technologies
"Netbiscuits, the global leader in software solutions for adaptive web experiences, today published additional findings from its study into consumer behavior on the mobile web. The latest data, extracted from the Netbiscuits People's Web Report and featuring responses from 5,000 consumers, found that the starkest differences in mobile usage were between developed and emerging markets. Deep-diving into the differences between consumer expectations around the world, the new evaluation of the People's Web Report findings gives a more detailed insight into how our lives are shaped by mobile."
Online banking security company Entersekt, wins Frost and Sullivan Award
"Online banking security company Entersekt, has today been awarded the 2013 South African Frost and Sullivan Award for Technology Leadership for its innovations in providing easy-to-use and secure mobile banking solutions. Transakt, as its app is called, offers an alternative method to online banking that claims to eliminate fraud and enhance transaction convenience of both the bank and customer. Frost & Sullivan Research Analyst Lehlohonolo Mokenela notes that Entersekt has received accreditation from the world’s largest payments networks American Express, MasterCard, and Visa and is the first and only company in Africa to earn all three of these certifications."
Daily use of mobile banking in Korea up 10.2 pct in Q2
"The daily use of mobile banking in South Korea rose 10.2 percent in the second quarter from three months earlier on the back of the growing popularity of smartphones, the central bank said Thursday. Transactions by mobile banking or banking services accessed via wireless handsets were valued at 1.39 trillion won (US$1.24 billion) per day in the April-June period, compared with 1.26 trillion won three months earlier, according to the Bank of Korea (BOK)."
Half of UK bank branches could close by 2020
"The increased use of online and mobile banking means that half of the UK’s building society and bank branches could close by 2020, a new report predicts. The Global Retail Banking report from Jones Lang LaSalle adds that the closures will be spurred on by increased use of debit and credit cards."
Tuesday, August 6, 2013
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."
"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."
Tuesday, April 23, 2013
International Mobile Banking Updates - April 23
Mobile malware and your money
"You might have anti-virus software on your computer, but have you considered protecting your smartphone or device? According to the international software house for antivirus security solutions, G Data Software AG, on average 6 915 new malware strains were created every day in the second half of 2012. The report states the number of new malware strains in the tools category, which includes online banking tools, has increased enormously in 2012."
bKash Offers Mobile Banking for Bangladesh
"bKash's CEO Kamal Quadir made the case for the e-commerce company at D: Dive Into Mobile, during the last of three "Global Voices" sessions."
ICICI Bank & Vodafone launch new mobile application
"India’s largest private sector lender ICICI Bank on Wednesday launched a mobile banking application christened as 'M-Pesa' in association with Vodafone India, one of the leading telecommunication service providers. 'This launch is line with the bank's objective of achieving greater financial inclusion,' said Rajiv Sabharwal, Executive Director - ICICI Bank."
Mobile financial services: Visa to launch innovative product in expanding market
"Bullish about the mobile banking scene in Pakistan, Visa Inc – a global payments technology company – is soon going to launch its own mobile financial services (MFS) platform in Pakistan, The Express Tribune has learnt. The product will use VisaNet technology and function on ‘interoperability’ model – a first in Pakistan’s mobile banking market. VisaNet is the world’s largest retail electronic payments processing network, handling an average of 150 million transactions every day, according to the company’s website."
South Africa’s mobile money industry remains innovative and diverse
"Mobile Money Africa returns to Johannesburg in May. South Africa remains one of the most diverse regions in Africa for its proliferation of successful mobile money business models being championed by banks, MNOs (mobile network operators), third party providers and retailers. This is according to Emma Pearce, director of the upcoming, annual Mobile Money Africa conference and exhibition, which will again gather the continent’s leading industry experts in Johannesburg from 28-29 May."
INSIGHT: How tech has transformed banking services in East Africa
"In the past, for a customer to transact any business with their bank, they had to make a trip to a banking hall. Not so these days. Customers can carry out business with their bank using mobile phones or via the Internet. Technology has dramatically transformed banking beyond the traditional brick-and-mortar concept. Many Kenyan banks are now offering Internet and mobile banking services. In fact, local banks have been at the forefront (even by global standards) of adopting technology to drive business volumes and enhance customer service."
Are banking apps up to it?
"Do banking apps deliver a full banking experience? LIRON SEGEV rates and ranks the functionality of the big four South African banks as they go mobile. Mobile banking apps in South Africa have seen phenomenal uptake by customers. But are they all things to all bankers? And which financial institution has the best features on its app? I set out to find out by comparing the features of the various banking apps."
Credit union's Deposit Anywhere™: A Canadian first
"A first in the Canadian financial services market, Central 1 Credit Union and three Canadian credit unions - including Meridian, Ontario's largest credit union - are launching Deposit Anywhere™, a new mobile banking application that makes it easy to deposit a cheque using a smartphone."
"You might have anti-virus software on your computer, but have you considered protecting your smartphone or device? According to the international software house for antivirus security solutions, G Data Software AG, on average 6 915 new malware strains were created every day in the second half of 2012. The report states the number of new malware strains in the tools category, which includes online banking tools, has increased enormously in 2012."
bKash Offers Mobile Banking for Bangladesh
"bKash's CEO Kamal Quadir made the case for the e-commerce company at D: Dive Into Mobile, during the last of three "Global Voices" sessions."
ICICI Bank & Vodafone launch new mobile application
"India’s largest private sector lender ICICI Bank on Wednesday launched a mobile banking application christened as 'M-Pesa' in association with Vodafone India, one of the leading telecommunication service providers. 'This launch is line with the bank's objective of achieving greater financial inclusion,' said Rajiv Sabharwal, Executive Director - ICICI Bank."
Mobile financial services: Visa to launch innovative product in expanding market
"Bullish about the mobile banking scene in Pakistan, Visa Inc – a global payments technology company – is soon going to launch its own mobile financial services (MFS) platform in Pakistan, The Express Tribune has learnt. The product will use VisaNet technology and function on ‘interoperability’ model – a first in Pakistan’s mobile banking market. VisaNet is the world’s largest retail electronic payments processing network, handling an average of 150 million transactions every day, according to the company’s website."
South Africa’s mobile money industry remains innovative and diverse
"Mobile Money Africa returns to Johannesburg in May. South Africa remains one of the most diverse regions in Africa for its proliferation of successful mobile money business models being championed by banks, MNOs (mobile network operators), third party providers and retailers. This is according to Emma Pearce, director of the upcoming, annual Mobile Money Africa conference and exhibition, which will again gather the continent’s leading industry experts in Johannesburg from 28-29 May."
INSIGHT: How tech has transformed banking services in East Africa
"In the past, for a customer to transact any business with their bank, they had to make a trip to a banking hall. Not so these days. Customers can carry out business with their bank using mobile phones or via the Internet. Technology has dramatically transformed banking beyond the traditional brick-and-mortar concept. Many Kenyan banks are now offering Internet and mobile banking services. In fact, local banks have been at the forefront (even by global standards) of adopting technology to drive business volumes and enhance customer service."
Are banking apps up to it?
"Do banking apps deliver a full banking experience? LIRON SEGEV rates and ranks the functionality of the big four South African banks as they go mobile. Mobile banking apps in South Africa have seen phenomenal uptake by customers. But are they all things to all bankers? And which financial institution has the best features on its app? I set out to find out by comparing the features of the various banking apps."
Credit union's Deposit Anywhere™: A Canadian first
"A first in the Canadian financial services market, Central 1 Credit Union and three Canadian credit unions - including Meridian, Ontario's largest credit union - are launching Deposit Anywhere™, a new mobile banking application that makes it easy to deposit a cheque using a smartphone."
Tuesday, April 16, 2013
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."
"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."
Wednesday, April 3, 2013
International Mobile Banking Updates - April 3
HDFC launches mobile banking app on Windows Phone
"Windows Phone users in India with HDFC Bank accounts will no longer have to use the browser version of HDFC Bank. HDFC has just launched the mobile banking app for its Indian customers at the Windows Phone Store. The app will allow users to handle their accounts and basically do everything as with any netbanking application."
‘Misconceptions’ stall mobile banking uptake in UAE
"Despite its promise of convenience, mobile banking remains unpopular among many residents in the UAE due to a number of misconceptions, a recent survey shows. In a recent poll conducted by Rakbank that gathered 2,500 responses, over a third of respondents said they don’t find mobile banking to be a secure way to bank, citing that handsets can easily be compromised."
IBM, ING DIRECT Canada team up in mobile banking initiative
"IBM Canada Ltd. recently announced that it is working with ING Direct Canada to deliver financial services designed to improve the bank’s online customer experience including simplified account access across mobile devices and social media channels, voice recognition, and security. The software and services support ING DIRECT's Orange Snapshot initiative, which the two organizations say are 'designed to provide its clients greater control to manage their accounts within their increasingly mobile and social lifestyle.'”
ASB tops mobile banking survey
"ASB Bank has come out best in a survey of mobile banking services by privately owned testing company Optimal Usability. Optimal Usability, which employs 20 staff in Auckland and Wellington, advises companies on customer-facing technology and said it consulted for all the banks whose services it reviewed, with the exception of TSB."
Is it a phone, is it a bank?
"SWAHILI continues to creep into the language of global finance. M-PESA, a thriving money-transfer system run by Safaricom, a Kenyan mobile-phone operator, and named after the word for “cash”, has already entered the lexicon. Having persuaded millions of Kenyans to send cash through an SMS network, Safaricom is now trying to tempt them into a savings-and-loans service called M-Shwari, after the Swahili for “cool” or “calm”."
Ulster Bank mobile banking glitch now resolved
"Ulster Bank has said it has resolved a technical problem that affected customers trying to use mobile banking. The bank is part of the RBS group and the glitch appeared to be group-wide. In a statement, the bank said: "For a short period of time earlier today customers were unable to log into our mobile banking applications."
OFW remittances via online, mobile banking growing
"Majority of the overseas Filipino workers (OFW) send funds home via traditional money transfer services, like banks, but a growing trend is brewing: cash transfers via online transactions using mobile devices, kiosks and automated teller machines. There has been a growing demand for bank account-to-account or purely online transactions, noted Grant Lines, senior vice president for South Asia and Middle East and MoneyGram International."
NatWest glitch leaves customers locked out of mobile banking app
"NatWest has been hit by its third IT glitch in nine months when a fault left customers locked out of its mobile banking app for hours. The problem, which prevented people from logging in, also affected customers of Royal Bank of Scotland and Ulster Bank, and prompted some to take to Twitter to vent their anger. The three banks' mobile apps have well over two million active users, with at least 13m log-ins taking place each week."
"Windows Phone users in India with HDFC Bank accounts will no longer have to use the browser version of HDFC Bank. HDFC has just launched the mobile banking app for its Indian customers at the Windows Phone Store. The app will allow users to handle their accounts and basically do everything as with any netbanking application."
‘Misconceptions’ stall mobile banking uptake in UAE
"Despite its promise of convenience, mobile banking remains unpopular among many residents in the UAE due to a number of misconceptions, a recent survey shows. In a recent poll conducted by Rakbank that gathered 2,500 responses, over a third of respondents said they don’t find mobile banking to be a secure way to bank, citing that handsets can easily be compromised."
IBM, ING DIRECT Canada team up in mobile banking initiative
"IBM Canada Ltd. recently announced that it is working with ING Direct Canada to deliver financial services designed to improve the bank’s online customer experience including simplified account access across mobile devices and social media channels, voice recognition, and security. The software and services support ING DIRECT's Orange Snapshot initiative, which the two organizations say are 'designed to provide its clients greater control to manage their accounts within their increasingly mobile and social lifestyle.'”
ASB tops mobile banking survey
"ASB Bank has come out best in a survey of mobile banking services by privately owned testing company Optimal Usability. Optimal Usability, which employs 20 staff in Auckland and Wellington, advises companies on customer-facing technology and said it consulted for all the banks whose services it reviewed, with the exception of TSB."
Is it a phone, is it a bank?
"SWAHILI continues to creep into the language of global finance. M-PESA, a thriving money-transfer system run by Safaricom, a Kenyan mobile-phone operator, and named after the word for “cash”, has already entered the lexicon. Having persuaded millions of Kenyans to send cash through an SMS network, Safaricom is now trying to tempt them into a savings-and-loans service called M-Shwari, after the Swahili for “cool” or “calm”."
Ulster Bank mobile banking glitch now resolved
"Ulster Bank has said it has resolved a technical problem that affected customers trying to use mobile banking. The bank is part of the RBS group and the glitch appeared to be group-wide. In a statement, the bank said: "For a short period of time earlier today customers were unable to log into our mobile banking applications."
OFW remittances via online, mobile banking growing
"Majority of the overseas Filipino workers (OFW) send funds home via traditional money transfer services, like banks, but a growing trend is brewing: cash transfers via online transactions using mobile devices, kiosks and automated teller machines. There has been a growing demand for bank account-to-account or purely online transactions, noted Grant Lines, senior vice president for South Asia and Middle East and MoneyGram International."
NatWest glitch leaves customers locked out of mobile banking app
"NatWest has been hit by its third IT glitch in nine months when a fault left customers locked out of its mobile banking app for hours. The problem, which prevented people from logging in, also affected customers of Royal Bank of Scotland and Ulster Bank, and prompted some to take to Twitter to vent their anger. The three banks' mobile apps have well over two million active users, with at least 13m log-ins taking place each week."
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."
Tuesday, October 2, 2012
International Mobile Banking Updates - Oct 2
MOBILE BANKING (First of two parts)
"THE popularity of cell phones in the Philippines is undeniable and palpable. Ask any person on the street if he has a cell phone, and 7 out of 10 would probably say yes. Sadly, while access to mobile phone services has rocketed in recent years, access to financial services remains a major barrier to economic growth. If only banks here were as easily accessible as cell phones, particularly in the rural areas!"
Anytime-anywhere banking, courtesy RBI
"Customers can now pay for their taxi rides, pizzas, kirana store purchases anytime, anywhere with their mobile phones, reports CNBC-TV18's Gopika Gopakumar. Have you run out of cash while shopping? Don't worry! You can pay anyone including your neighbourhood kirana store with your mobile phone. The National Payments Corporation of India (NPCI), the organisation set up by the RBI for all retail payments, has now launched the inter-bank mobile payment service for all merchants. This will allow customers to pay their bills for as little as 25 paise for each transaction."
Mobile banking expands in rural areas
"In 2011, Philippine rural banks processed over P4.9 billion (roughly $116 million) worth of banking transactions which were enabled by mobile banking. In fact, the former head of the Microentrepreneurs Access to Banking Services (MABS) program John V. Owens said a 58-percent increase in the volume of transactions through mobile banking has been noted in the first four months of 2012. Since mobile banking or access to banking services through the mobile phone technology was introduced in 2006, a total of P16 billion (approximately $363 million) had been processed."
KBank boosts mobile and cyber-banking services
"Art Wichiencharoen, first senior vice president of Kasikornbank, said that the company usually invests about Bt100 million to keep the bank's technologies up to date in order to provide a wide new range of secure cyber-banking and mobile-banking services. Currently, the bank has more than 1.4 million users of its cyber-banking services, with 400,000 active users per month. Meanwhile, it has more than 1.2 million registered users of its mobile-banking service, with about 500,000 active users per month."
SBI, ICICI lead the pack as m-banking gains currency
"Mumbai: Anand Chaturvedi, a 27-year-old analyst with a brokerage firm in Mumbai, started using his mobile phone for banking about six months back “because it is easy to use and accessible from anywhere”. When in office, he does Internet banking, but uses the mobile banking (m-banking) services of ICICI Bank Ltd and HDFC Bank Ltd when travelling. Vinaya Venugopalan, a 26-year-old information technology (IT) manager with an Indian bank, started using m-banking in May. He is comfortable with the service, but limits it mostly to checking his bank balance."
Australians slow to embrace mobile banking
"A cashless future where the bulk of consumers rely on mobile phones for their banking needs may be further away than many in the financial services industry claim. That's because consumers in Australia have not shown wide acceptance of mobile banking at a time when technical barriers persist and the challenge of an ageing demographic looms."
Way to beat a cash economy
"In a predominantly cash-run economy, electronic payment methods that provide convenience to users while lowering the transaction cost of banks make immense sense. Mobile banking, or m-banking, that started with small SMS transactions, is one such mechanism. Today, with more than 900 million cellphone subscribers in the country and hundreds of tablet PCs, there should ideally be many takers. According to a August Reserve Bank of India (RBI) report, in fiscal 2012, however, only 13 million people across 49 banks used m-banking services, and made 25.6 million transactions valued at Rs.1,820 crore."
Capitec mobile banking hits 2 million clients
"South African commercial bank Capitec Bank Holdings reported on Wednesday (26 September), that it had signed up more than two million clients to its mobile banking service. 'Capitec promotes the use of mobile banking, and at the end of August 2012, in excess of 2.0 million clients were registered for this service.'"
Mobile tellers take banking by storm
"Since taking the reins as chief information officer for Westpac, Clive Whincup has presided over the launch of the bank’s first iPad application; a trial to turn Android smartphones into contactless payment devices; the introduction of an iPad app to replace printed board papers; a 1000 iPad pilot for bank executives; and a St George innovation that allows payments to be made from a smartphone using only the recipient’s mobile number."
Mobile devices change the face of banking
"How about taking a picture of a cheque with your smartphone to deposit it? What about getting online advice about your investments when you're on your tablet? And then there's paying for small purchases with smartphones. The use of smartphones and tablets in consumers' everyday lives is helping push changes in how they bank, pay for bills and even how they can get investment advice, say experts."
The rise of mobile money is driven by the poor
"As Google, Apple, Paypal, Mastercard and the entire banking community fights over mobile money, we decided to look to the power users to find out what the near future of monetary exchange might look like. The World Bank’s treasure trove of open data on mobile banking is a well stocked pantry for the data hungry. Welcome to our first data snack and enjoy the graph we created below."
"THE popularity of cell phones in the Philippines is undeniable and palpable. Ask any person on the street if he has a cell phone, and 7 out of 10 would probably say yes. Sadly, while access to mobile phone services has rocketed in recent years, access to financial services remains a major barrier to economic growth. If only banks here were as easily accessible as cell phones, particularly in the rural areas!"
Anytime-anywhere banking, courtesy RBI
"Customers can now pay for their taxi rides, pizzas, kirana store purchases anytime, anywhere with their mobile phones, reports CNBC-TV18's Gopika Gopakumar. Have you run out of cash while shopping? Don't worry! You can pay anyone including your neighbourhood kirana store with your mobile phone. The National Payments Corporation of India (NPCI), the organisation set up by the RBI for all retail payments, has now launched the inter-bank mobile payment service for all merchants. This will allow customers to pay their bills for as little as 25 paise for each transaction."
Mobile banking expands in rural areas
"In 2011, Philippine rural banks processed over P4.9 billion (roughly $116 million) worth of banking transactions which were enabled by mobile banking. In fact, the former head of the Microentrepreneurs Access to Banking Services (MABS) program John V. Owens said a 58-percent increase in the volume of transactions through mobile banking has been noted in the first four months of 2012. Since mobile banking or access to banking services through the mobile phone technology was introduced in 2006, a total of P16 billion (approximately $363 million) had been processed."
KBank boosts mobile and cyber-banking services
"Art Wichiencharoen, first senior vice president of Kasikornbank, said that the company usually invests about Bt100 million to keep the bank's technologies up to date in order to provide a wide new range of secure cyber-banking and mobile-banking services. Currently, the bank has more than 1.4 million users of its cyber-banking services, with 400,000 active users per month. Meanwhile, it has more than 1.2 million registered users of its mobile-banking service, with about 500,000 active users per month."
SBI, ICICI lead the pack as m-banking gains currency
"Mumbai: Anand Chaturvedi, a 27-year-old analyst with a brokerage firm in Mumbai, started using his mobile phone for banking about six months back “because it is easy to use and accessible from anywhere”. When in office, he does Internet banking, but uses the mobile banking (m-banking) services of ICICI Bank Ltd and HDFC Bank Ltd when travelling. Vinaya Venugopalan, a 26-year-old information technology (IT) manager with an Indian bank, started using m-banking in May. He is comfortable with the service, but limits it mostly to checking his bank balance."
Australians slow to embrace mobile banking
"A cashless future where the bulk of consumers rely on mobile phones for their banking needs may be further away than many in the financial services industry claim. That's because consumers in Australia have not shown wide acceptance of mobile banking at a time when technical barriers persist and the challenge of an ageing demographic looms."
Way to beat a cash economy
"In a predominantly cash-run economy, electronic payment methods that provide convenience to users while lowering the transaction cost of banks make immense sense. Mobile banking, or m-banking, that started with small SMS transactions, is one such mechanism. Today, with more than 900 million cellphone subscribers in the country and hundreds of tablet PCs, there should ideally be many takers. According to a August Reserve Bank of India (RBI) report, in fiscal 2012, however, only 13 million people across 49 banks used m-banking services, and made 25.6 million transactions valued at Rs.1,820 crore."
Capitec mobile banking hits 2 million clients
"South African commercial bank Capitec Bank Holdings reported on Wednesday (26 September), that it had signed up more than two million clients to its mobile banking service. 'Capitec promotes the use of mobile banking, and at the end of August 2012, in excess of 2.0 million clients were registered for this service.'"
Mobile tellers take banking by storm
"Since taking the reins as chief information officer for Westpac, Clive Whincup has presided over the launch of the bank’s first iPad application; a trial to turn Android smartphones into contactless payment devices; the introduction of an iPad app to replace printed board papers; a 1000 iPad pilot for bank executives; and a St George innovation that allows payments to be made from a smartphone using only the recipient’s mobile number."
Mobile devices change the face of banking
"How about taking a picture of a cheque with your smartphone to deposit it? What about getting online advice about your investments when you're on your tablet? And then there's paying for small purchases with smartphones. The use of smartphones and tablets in consumers' everyday lives is helping push changes in how they bank, pay for bills and even how they can get investment advice, say experts."
The rise of mobile money is driven by the poor
"As Google, Apple, Paypal, Mastercard and the entire banking community fights over mobile money, we decided to look to the power users to find out what the near future of monetary exchange might look like. The World Bank’s treasure trove of open data on mobile banking is a well stocked pantry for the data hungry. Welcome to our first data snack and enjoy the graph we created below."
Tuesday, September 25, 2012
International Mobile Banking Updates - Sept 25
Over 200 Attendees and 20 Speakers Confirmed for the 4th Annual Mobile Money Canada Conference
"The 4th Annual Mobile Money Canada Conference is this year‘s must attend event for mobile and financial sector professionals interested in learning from and networking with the leading mobile banking, mobile payments, and mobile money transfer pioneers from Canada and around the word. Mobile Money Canada 2012 is Canada‘s largest conference focused exclusively on showcasing and fostering the growth of the Mobile Money industry in Canada. The conference is almost sold out and occurs on September 25th, 2012 at the Metro Toronto Convention Centre."
Banks develop more services for mobile market
"Banks in Viet Nam are vying with each other to diversify their internet banking services in order to take advantage of people's increasing reliance on mobile electronic devices. According to data collected in a survey on internet usage in Viet Nam made in 2011 by Cimigo Viet Nam, which specialises in marketing and brand research, 60 per cent of the 5,800 people polled used mobile devices such as mobile phones and tablet PCs to connect to the Internet."
Mobile Banking And Payment Innovation In France
"France has been quick to embrace mobile banking. Banks like BNP Paribas and Société Générale were among the pioneers of mobile banking in Europe and since 2009, all of the big French banks have launched iPhone mobile banking apps, so most French banks now offer several forms of mobile banking. The first wave of mobile banking was about getting the basics down and offering customers functionality like balances, transaction histories and SMS alerts. The second wave now focuses on money transfers and payments."
Indigenous and ingenious: The roots of mobile banking in Africa
"In Ghana, it’s popularly known as susu. In Cameroon, tontines or chilembe. And in South Africa, stokfel. Today, you’d most likely call it plain-old microfinance, the nearest term we have for it. Age-old indigenous credit schemes have run perfectly well without much outside intervention for generations. Although, in our excitement to implement new technologies and solutions, we sometimes fail to recognise them. Innovations such as mobile banking – great as they may be – are hailed as revolutionary without much consideration for what may have come before, or who the original innovators may have been."
Now, you can buy gold, silver on mobile phone
"After enabling purchase of books and clothes among items, as well as internet banking and share market dealings, new mobile applications have been developed to allow consumers buy precious metals like gold and silver. With nearly 15 million mobile subscribers being added every month in the country, the mobile application market has emerged as a major growth area for developers and there are estimated to be about 2.5 lakh app developers in India alone."
RBI’s Dep Governor: Mobile Banking Has Great Potential, India is Moving Towards ‘Less-Cash’ Society
"Technology has played in important role in the evolution of banking in India. First there was ATMs then internet banking thus noting that local geographical bank branches are not as important when it comes to doing transactions. The question right now for banks is not about whether mobile banking is good for business but how to take advantage of this new trend in the banking industry. It is going to be about the evolution of better customer service, expanded product range, reducing operating expenses while enhancing revenue through mobile banking."
Celpay to invest $10mn in Africa
"Mobile banking and payment solution service provider, Celpay, plans to invest $10 million over the next five years to expand its operations in the southern African region. The company, which already has operations in Zambia, Zimbabwe, and the Democratic Republic of Congo, said the investment would increase its footprint in the fastest growing economies in southern Africa."
Mobile Remittances May Boost World’s CUs
"A new partnership between the World Council of Credit Unions and Boom Financial, a Palo Alto, Calif.-based company that provides mobile banking and money transfer services to immigrant and unbanked families, could pump new life into credit unions in developing countries. Founded four years ago, Boom gives underbanked and unbanked consumers the ability to activate a Boom bank account, receive a prepaid card and transfer money to anyone in the world via a mobile transaction."
Jobs boom for mobile banking
"New jobs in mobile banking are expected to overtake those in internet banking for the first time this year, according to research from specialist financial services recruitment company BrightPool. In addition, the biggest growth in new jobs is expected to come in retail banking."
Mobile Phones Can Alleviate Global Poverty, But it Will Not Be Easy
"Despite the proven effectiveness of mobile banking in integrating significant portions of populations in developing countries to the financial system, two New America Foundation partners, Sascha Meinrath and Jamie M. Zimmerman, argue that this strategy is still an imperfect solution to financially include the poorest of the poor. M-PESA in Kenya, for example, has been heralded as an immense success with nearly 70% of the adult population using its e-transaction services, which has lead to positive results in related income generation."
The M-Banking Leader
"Would you believe a public sector bank is the leader in mobile banking? FY12 saw 25 million mobile transactions valued at over Rs 1,820 crore. Of these, State Bank of India (SBI) accounted for 81% by volume and 50% by value, while private sector ICICI Bank was a distant second accounting for 8.4% by volume and 33% by value. The balance, however, is proof of the wide gulf between private and public sector banks. There’s Central Bank of India with just 42 m-banking transactions, Dena Bank’s 481 and Allahabad Bank’s 782. In contrast, Citibank, HDFC and Axis Bank all clocked over 220,000 transactions."
For Text-Savvy Filipinos, Mobile Banking Is a Crucial Bridge
"For a long time, Lolita Singahan greeted paydays with a mix of relief and anxiety—relief, because it meant receiving money to cover her family’s expenses, and anxiety, because it meant she would need to spend an entire day traveling to the bank to get her paycheck. Although she makes about $800 a month, which is way above the minimum pay in the Zamboanga Peninsula region in Mindanao, Singahan still needs additional funds to support her children’s education. She has found refuge in the loan program of 1st Valley Bank for almost six years now."
"The 4th Annual Mobile Money Canada Conference is this year‘s must attend event for mobile and financial sector professionals interested in learning from and networking with the leading mobile banking, mobile payments, and mobile money transfer pioneers from Canada and around the word. Mobile Money Canada 2012 is Canada‘s largest conference focused exclusively on showcasing and fostering the growth of the Mobile Money industry in Canada. The conference is almost sold out and occurs on September 25th, 2012 at the Metro Toronto Convention Centre."
Banks develop more services for mobile market
"Banks in Viet Nam are vying with each other to diversify their internet banking services in order to take advantage of people's increasing reliance on mobile electronic devices. According to data collected in a survey on internet usage in Viet Nam made in 2011 by Cimigo Viet Nam, which specialises in marketing and brand research, 60 per cent of the 5,800 people polled used mobile devices such as mobile phones and tablet PCs to connect to the Internet."
Mobile Banking And Payment Innovation In France
"France has been quick to embrace mobile banking. Banks like BNP Paribas and Société Générale were among the pioneers of mobile banking in Europe and since 2009, all of the big French banks have launched iPhone mobile banking apps, so most French banks now offer several forms of mobile banking. The first wave of mobile banking was about getting the basics down and offering customers functionality like balances, transaction histories and SMS alerts. The second wave now focuses on money transfers and payments."
Indigenous and ingenious: The roots of mobile banking in Africa
"In Ghana, it’s popularly known as susu. In Cameroon, tontines or chilembe. And in South Africa, stokfel. Today, you’d most likely call it plain-old microfinance, the nearest term we have for it. Age-old indigenous credit schemes have run perfectly well without much outside intervention for generations. Although, in our excitement to implement new technologies and solutions, we sometimes fail to recognise them. Innovations such as mobile banking – great as they may be – are hailed as revolutionary without much consideration for what may have come before, or who the original innovators may have been."
Now, you can buy gold, silver on mobile phone
"After enabling purchase of books and clothes among items, as well as internet banking and share market dealings, new mobile applications have been developed to allow consumers buy precious metals like gold and silver. With nearly 15 million mobile subscribers being added every month in the country, the mobile application market has emerged as a major growth area for developers and there are estimated to be about 2.5 lakh app developers in India alone."
RBI’s Dep Governor: Mobile Banking Has Great Potential, India is Moving Towards ‘Less-Cash’ Society
"Technology has played in important role in the evolution of banking in India. First there was ATMs then internet banking thus noting that local geographical bank branches are not as important when it comes to doing transactions. The question right now for banks is not about whether mobile banking is good for business but how to take advantage of this new trend in the banking industry. It is going to be about the evolution of better customer service, expanded product range, reducing operating expenses while enhancing revenue through mobile banking."
Celpay to invest $10mn in Africa
"Mobile banking and payment solution service provider, Celpay, plans to invest $10 million over the next five years to expand its operations in the southern African region. The company, which already has operations in Zambia, Zimbabwe, and the Democratic Republic of Congo, said the investment would increase its footprint in the fastest growing economies in southern Africa."
Mobile Remittances May Boost World’s CUs
"A new partnership between the World Council of Credit Unions and Boom Financial, a Palo Alto, Calif.-based company that provides mobile banking and money transfer services to immigrant and unbanked families, could pump new life into credit unions in developing countries. Founded four years ago, Boom gives underbanked and unbanked consumers the ability to activate a Boom bank account, receive a prepaid card and transfer money to anyone in the world via a mobile transaction."
Jobs boom for mobile banking
"New jobs in mobile banking are expected to overtake those in internet banking for the first time this year, according to research from specialist financial services recruitment company BrightPool. In addition, the biggest growth in new jobs is expected to come in retail banking."
Mobile Phones Can Alleviate Global Poverty, But it Will Not Be Easy
"Despite the proven effectiveness of mobile banking in integrating significant portions of populations in developing countries to the financial system, two New America Foundation partners, Sascha Meinrath and Jamie M. Zimmerman, argue that this strategy is still an imperfect solution to financially include the poorest of the poor. M-PESA in Kenya, for example, has been heralded as an immense success with nearly 70% of the adult population using its e-transaction services, which has lead to positive results in related income generation."
The M-Banking Leader
"Would you believe a public sector bank is the leader in mobile banking? FY12 saw 25 million mobile transactions valued at over Rs 1,820 crore. Of these, State Bank of India (SBI) accounted for 81% by volume and 50% by value, while private sector ICICI Bank was a distant second accounting for 8.4% by volume and 33% by value. The balance, however, is proof of the wide gulf between private and public sector banks. There’s Central Bank of India with just 42 m-banking transactions, Dena Bank’s 481 and Allahabad Bank’s 782. In contrast, Citibank, HDFC and Axis Bank all clocked over 220,000 transactions."
For Text-Savvy Filipinos, Mobile Banking Is a Crucial Bridge
"For a long time, Lolita Singahan greeted paydays with a mix of relief and anxiety—relief, because it meant receiving money to cover her family’s expenses, and anxiety, because it meant she would need to spend an entire day traveling to the bank to get her paycheck. Although she makes about $800 a month, which is way above the minimum pay in the Zamboanga Peninsula region in Mindanao, Singahan still needs additional funds to support her children’s education. She has found refuge in the loan program of 1st Valley Bank for almost six years now."
Tuesday, September 4, 2012
International Mobile Banking Updates - Sept 4
Nimbus‚ Finaccess join hands to offer mobile financial services to unbanked
"Nimbus Holdings and Finaccess entered into an agreement today to enable various businesses of Nimbus with a ubiquitous distribution network throughout the country — specifically in the rural parts and comprising over 500 dealers and sub dealers — to offer an end to end mobile financial service provided through the Hello Paisa Network."
Mobile Banking and Payments for Emerging Asia Summit 2012
"Bringing Senior Mobile Banking & Payments Stakeholders Together to Reach Commercialization. Clariden Global will be hosting a 2-day summit, Mobile Banking & Payments for Emerging Asia Summit 2012 - themed "Unleashing the Potential of Mobile Channels to Penetrate Emerging Markets in Asia,, on 8 to 9 October, at Conrad Bali."
DBBL launches Mobile Banking in partnership with Airtel
"Dutch-Bangla Bank Ltd Saturday formally launched mobile banking in partnership with Airtel Bangladesh Ltd, said a press release. As per the permission of the Bangladesh Bank, only a commercial bank can launch mobile banking services in Bangladesh. Under this initiative, Airtel subscribes will enjoy mobile banking services such as, cash-in, cash-out, remittance collection, salary disbursement, mobile top-up facility and person to person money transfer using DBBL mobile banking account."
Middle East consumers embrace mobile wallet services
"Mobile wallet services, which enable payments via mobile devices, are a potential growth industry in the Middle East, according to experts. While Asian markets look to be ahead of the pack, with a quarter of Japanese mobile users already managing their finances and paying for products via a mobile wallet, there is good potential for increased adoption in the coming year in the Middle East region, according to a study on mobile device usage by TNS, a technology and business strategy firm."
Nedbank app hits Play Store
"Nedbank has finally launched its mobile banking application, although only on Android-powered smartphones for now. The app, known as the Nedbank App Suite, has been available to the bank’s staff since the end of June and can now be downloaded from Google’s Play Store. The Nedbank App Suite includes online share trading as well as the ability to do corporate batch authorisations, reset business banking passwords, check balance enquiries and make payments."
Bank offers remote sign up
"Consumers sitting at home in their pyjamas can sign up to a bank without having to go near a physical main street branch. BNZ's upgraded iPhone app, launched today, allows anyone to join the bank using just an internet connection and a camera phone. The development follows the lead of TSB Bank, which pioneered a similar sign-up system in April with its [my]bank app. Would-be customers take a photograph of their passport or driver's licence, a recent bill or statement, and a self-portrait holding their ID."
Kwame Pianim calls for stronger regulations of mobile money and banking services
"Economist, Kwame Pianim is calling for stronger regulation of mobile money and mobile banking services in the country. This follows what he describes as a worrying trend of unfair competition posed by Telcos to other service providers. Mr. Pianim who is also the Board Chairman of Electronic payment Provider, E-Transact explains to JOY BUSINESS, mobile financial service-delivery is being unduly affected by the dual role of Telco’s."
Tagit helps MayBank Singapore offer mobile banking
"Since going mobile is the hottest trend, Maybank Singapore followed suit by offering mobile banking services Maybank mBanking App using Tagit’s proprietary Mobeix platform. The mobile banking service from Maybank is unique because of the level of personalisation it offers, and allows the users to connect to social media platforms for better service. This is possible because Mobeix works on a new design approach to mobile banking. Maybank’s mobile banking app is available for download in the Apple App Store starting August 24."
SA’s FNB Expands Mobile Services Through Cell C
"FNB and Cell C have announced that FNB Cellphone Banking customers are now able to buy Cell C SMS and Data bundles on the channel. Until now, the only Cell C product that was offered was prepaid airtime. FNB is the first and currently the only bank to enter into a partnership with Cell C to enable its customers to purchase SMS and Data Bundles. Shadrack Palmer CCO, of FNB Cellphone Banking says, 'This is an opportunity for us to increase our product and service offering to meet the needs of all our customers, especially on products that are currently in demand in the market. It is also an opportunity for us to attract new customers.'”
Mobile banking set to become user-friendly
"Banking transactions on mobile phones are set to become easier in a few days time. You will just need to key in the service code ‘*99#’ in your mobile to initiate funds transfer and check the balance in your bank account. To begin with, about 20 banks will offer the service code based mobile banking facility to customers who are subscribers of Mahanagar Telephone Nigam Ltd and Bharat Sanchar Nigam Ltd. State Bank of India, Bank of India, Bank of Baroda, Canara Bank and Union Bank of India will be part of the initial roll-out."
Mobile Wallet awareness is on the rise in Canada, but security is still a concern
"Canadian smartphone users, specifically those who access the various mobile banking apps, have reached a “critical mass” when it comes to being aware of the ability to pay for products and services at the point of purchase via their device. According to SRG’s Digital Life Canada Survey this key demographic represents about 4 million Canadians. Their study was conducted of 1,000 Canadians sometime in the spring of 2012."
Did you know you have five ways to bank with your mobile?
"Variety’s the very spice of life, that gives it all it’s flavor —English poet William Cowper Spoilt for choice: This is how you would feel when you think of making a mobile banking transaction. There are five options you can choose from. If you are not sure which mobile banking option you should choose, the following are a few simple ways to help you decide which option suits you better."
"Nimbus Holdings and Finaccess entered into an agreement today to enable various businesses of Nimbus with a ubiquitous distribution network throughout the country — specifically in the rural parts and comprising over 500 dealers and sub dealers — to offer an end to end mobile financial service provided through the Hello Paisa Network."
Mobile Banking and Payments for Emerging Asia Summit 2012
"Bringing Senior Mobile Banking & Payments Stakeholders Together to Reach Commercialization. Clariden Global will be hosting a 2-day summit, Mobile Banking & Payments for Emerging Asia Summit 2012 - themed "Unleashing the Potential of Mobile Channels to Penetrate Emerging Markets in Asia,, on 8 to 9 October, at Conrad Bali."
DBBL launches Mobile Banking in partnership with Airtel
"Dutch-Bangla Bank Ltd Saturday formally launched mobile banking in partnership with Airtel Bangladesh Ltd, said a press release. As per the permission of the Bangladesh Bank, only a commercial bank can launch mobile banking services in Bangladesh. Under this initiative, Airtel subscribes will enjoy mobile banking services such as, cash-in, cash-out, remittance collection, salary disbursement, mobile top-up facility and person to person money transfer using DBBL mobile banking account."
Middle East consumers embrace mobile wallet services
"Mobile wallet services, which enable payments via mobile devices, are a potential growth industry in the Middle East, according to experts. While Asian markets look to be ahead of the pack, with a quarter of Japanese mobile users already managing their finances and paying for products via a mobile wallet, there is good potential for increased adoption in the coming year in the Middle East region, according to a study on mobile device usage by TNS, a technology and business strategy firm."
Nedbank app hits Play Store
"Nedbank has finally launched its mobile banking application, although only on Android-powered smartphones for now. The app, known as the Nedbank App Suite, has been available to the bank’s staff since the end of June and can now be downloaded from Google’s Play Store. The Nedbank App Suite includes online share trading as well as the ability to do corporate batch authorisations, reset business banking passwords, check balance enquiries and make payments."
Bank offers remote sign up
"Consumers sitting at home in their pyjamas can sign up to a bank without having to go near a physical main street branch. BNZ's upgraded iPhone app, launched today, allows anyone to join the bank using just an internet connection and a camera phone. The development follows the lead of TSB Bank, which pioneered a similar sign-up system in April with its [my]bank app. Would-be customers take a photograph of their passport or driver's licence, a recent bill or statement, and a self-portrait holding their ID."
Kwame Pianim calls for stronger regulations of mobile money and banking services
"Economist, Kwame Pianim is calling for stronger regulation of mobile money and mobile banking services in the country. This follows what he describes as a worrying trend of unfair competition posed by Telcos to other service providers. Mr. Pianim who is also the Board Chairman of Electronic payment Provider, E-Transact explains to JOY BUSINESS, mobile financial service-delivery is being unduly affected by the dual role of Telco’s."
Tagit helps MayBank Singapore offer mobile banking
"Since going mobile is the hottest trend, Maybank Singapore followed suit by offering mobile banking services Maybank mBanking App using Tagit’s proprietary Mobeix platform. The mobile banking service from Maybank is unique because of the level of personalisation it offers, and allows the users to connect to social media platforms for better service. This is possible because Mobeix works on a new design approach to mobile banking. Maybank’s mobile banking app is available for download in the Apple App Store starting August 24."
SA’s FNB Expands Mobile Services Through Cell C
"FNB and Cell C have announced that FNB Cellphone Banking customers are now able to buy Cell C SMS and Data bundles on the channel. Until now, the only Cell C product that was offered was prepaid airtime. FNB is the first and currently the only bank to enter into a partnership with Cell C to enable its customers to purchase SMS and Data Bundles. Shadrack Palmer CCO, of FNB Cellphone Banking says, 'This is an opportunity for us to increase our product and service offering to meet the needs of all our customers, especially on products that are currently in demand in the market. It is also an opportunity for us to attract new customers.'”
Mobile banking set to become user-friendly
"Banking transactions on mobile phones are set to become easier in a few days time. You will just need to key in the service code ‘*99#’ in your mobile to initiate funds transfer and check the balance in your bank account. To begin with, about 20 banks will offer the service code based mobile banking facility to customers who are subscribers of Mahanagar Telephone Nigam Ltd and Bharat Sanchar Nigam Ltd. State Bank of India, Bank of India, Bank of Baroda, Canara Bank and Union Bank of India will be part of the initial roll-out."
Mobile Wallet awareness is on the rise in Canada, but security is still a concern
"Canadian smartphone users, specifically those who access the various mobile banking apps, have reached a “critical mass” when it comes to being aware of the ability to pay for products and services at the point of purchase via their device. According to SRG’s Digital Life Canada Survey this key demographic represents about 4 million Canadians. Their study was conducted of 1,000 Canadians sometime in the spring of 2012."
Did you know you have five ways to bank with your mobile?
"Variety’s the very spice of life, that gives it all it’s flavor —English poet William Cowper Spoilt for choice: This is how you would feel when you think of making a mobile banking transaction. There are five options you can choose from. If you are not sure which mobile banking option you should choose, the following are a few simple ways to help you decide which option suits you better."
Thursday, August 23, 2012
International Mobile Banking Updates - Aug 23
Banking and mobile money - a powerful convergence
"THE power and versatility of the mobile phone to enable financial transactions is quickly being taken up by financial institutions as they strive to deepen their presence. Mobile money is only about four years old but has attracted close to five million users while less than 15% of the Ugandan population use formal banking services in over 100 years of banking. But the recent decision by dfcu Bank and other institutions to connect their services and clients to the mobile phone will kickstart deeper financial penetration and allow access to more financial services by the backward linkage between the phone and the bank, according to observers."
Phones ring in banks' future
"THE battle for technology supremacy between Australian banks is accelerating, with the industry preparing for an era in which cash matters less and transactions occur in real time anywhere. Banks are launching smartphone apps aimed at connected customers and retailers, trying to get an advantage over rivals."
ING Direct Mobile App Encourages Savings Through Small Sacrifices
"ING Direct Canada has rolled out a new addition to its existing mobile banking app called Small Sacrifices. The tool helps customers visualize how cutting out everyday indulgences can lead to big savings over the long term. The Small Sacrifices tool is pretty simple. First, users choose what small sacrifice they can make, like passing on a daily coffee purchase. Then users decide which goal to redirect the money to, like their retirement fund or savings account."
The Secret of Africa’s Banking Boom: Mobility
"While U.S. and European banks suffer hangovers from the Great Recession and continued shock waves inside the eurozone, Africa’s top lenders have never looked stronger or been more ambitious. Why is a continent better known for political instability and foreign aid riding a banking boom characterized by aggressive pan-African expansion and swelling balance sheets?"
"THE power and versatility of the mobile phone to enable financial transactions is quickly being taken up by financial institutions as they strive to deepen their presence. Mobile money is only about four years old but has attracted close to five million users while less than 15% of the Ugandan population use formal banking services in over 100 years of banking. But the recent decision by dfcu Bank and other institutions to connect their services and clients to the mobile phone will kickstart deeper financial penetration and allow access to more financial services by the backward linkage between the phone and the bank, according to observers."
Phones ring in banks' future
"THE battle for technology supremacy between Australian banks is accelerating, with the industry preparing for an era in which cash matters less and transactions occur in real time anywhere. Banks are launching smartphone apps aimed at connected customers and retailers, trying to get an advantage over rivals."
ING Direct Mobile App Encourages Savings Through Small Sacrifices
"ING Direct Canada has rolled out a new addition to its existing mobile banking app called Small Sacrifices. The tool helps customers visualize how cutting out everyday indulgences can lead to big savings over the long term. The Small Sacrifices tool is pretty simple. First, users choose what small sacrifice they can make, like passing on a daily coffee purchase. Then users decide which goal to redirect the money to, like their retirement fund or savings account."
The Secret of Africa’s Banking Boom: Mobility
"While U.S. and European banks suffer hangovers from the Great Recession and continued shock waves inside the eurozone, Africa’s top lenders have never looked stronger or been more ambitious. Why is a continent better known for political instability and foreign aid riding a banking boom characterized by aggressive pan-African expansion and swelling balance sheets?"
Wednesday, July 11, 2012
International Mobile Banking Updates - Jul 11
New Mobile App Tool Encourages Canadians To Make Small Sacrifices For Long-term Savings
"ING DIRECT today announced a new addition to its existing mobile banking app for Apple® and Android™ devices. Called Small Sacrifices, this new tool helps Canadians visualize how foregoing everyday indulgences and redirecting that money through small incremental deposits can lead to big savings over the long term. In a new poll commissioned by ING DIRECT, 52% of Canadians surveyed said that if they could better visualize what foregoing their daily, weekly and monthly spending on non-essential purchases would save them over the short and long term, they would change their spending habits."
Boon to mobile banking in PH
"Mobile banking— one of the key tools rural banks regularly utilize to serve its clientele in the countryside—gets a much-needed shot in the arm after the United States Agency for International Development (Usaid) recently collaborated with Citigroup Inc. to further encourage the use of mobile banking in rural communities in several countries, including the Philippines."
Chart: Transactions Vs Amount Using Mobile Banking In India During Aug 2011-May 2012
"The number of transactions using mobile banking in India have gone up by 68.86% while the amount has increased by 102.65% taking into consideration the period from August 2011 to May 2012. The average amount per transaction stood at Rs 731.83, though we believe that the transaction information shared by the RBI with us includes both payment and non payment related transactions."
CBA launches new mobile banking innovations
"The Commonwealth Bank is making mobile banking more accessible to small businesses, rolling out a number of new innovations to its social payments app CommBank Kaching this week. Since launching Kaching for the iPhone last year, the app has been downloaded over 365,000 times and seen over $1 billion worths of transfer made. Now, the Commonwealth Bank has announced that the ‘peer-to-peer’ mobile payment app is now available for Google Android smartphones."
Use of Mobile Banking Services Expected to Triple in Finland
"According to a survey conducted by TNS Gallup, the use of mobile banking services is expected to triple in Finland. During the last 12 months, 11% of Finns aged between 16 and 60 years have used mobile banking services and 30% would like to use them in the future. Mobile service is seen as a complementary channel and will not, however, replace other service channels in the near future*."
Kenya's mobile payment revolution
"The mobile banking revolution has already happened, but it has nothing to do with Apple, Google, or Microsoft, and isn't in the US, Europe, or Japan. Instead, it started with a service called m-Pesa that launched in Kenya in 2007. Just three years later, the service had been used by more than half the Kenyan population and as of March of this year it had been used by 15 million people in the country."
BDO, Smart bring mobile banking to new heights
"BDO Unibank Inc. has been making banking more convenient for the public with the use of mobile phone technology. With the mobile phone and a Smart prepaid card, BDO customers can practically do bank transactions anywhere, anytime. With the help of leading telecommunications provider Smart Communications Inc. (Smart), BDO introduced the Smart Money prepaid card that also serves as an automated teller machine (ATM), and a debit card."
Retail Banking in Slumdog City Seen Booming With Wireless
"For a good look at the future of retail banking -- and mobile-phone profits -- in the developing world, consider the competition between corporate giants in Dharavi, the Indian shantytown that was the setting for the film 'Slumdog Millionaire.' And also consider that they are copying a strategy already used, with great success, in Kenya.
"ING DIRECT today announced a new addition to its existing mobile banking app for Apple® and Android™ devices. Called Small Sacrifices, this new tool helps Canadians visualize how foregoing everyday indulgences and redirecting that money through small incremental deposits can lead to big savings over the long term. In a new poll commissioned by ING DIRECT, 52% of Canadians surveyed said that if they could better visualize what foregoing their daily, weekly and monthly spending on non-essential purchases would save them over the short and long term, they would change their spending habits."
Boon to mobile banking in PH
"Mobile banking— one of the key tools rural banks regularly utilize to serve its clientele in the countryside—gets a much-needed shot in the arm after the United States Agency for International Development (Usaid) recently collaborated with Citigroup Inc. to further encourage the use of mobile banking in rural communities in several countries, including the Philippines."
Chart: Transactions Vs Amount Using Mobile Banking In India During Aug 2011-May 2012
"The number of transactions using mobile banking in India have gone up by 68.86% while the amount has increased by 102.65% taking into consideration the period from August 2011 to May 2012. The average amount per transaction stood at Rs 731.83, though we believe that the transaction information shared by the RBI with us includes both payment and non payment related transactions."
CBA launches new mobile banking innovations
"The Commonwealth Bank is making mobile banking more accessible to small businesses, rolling out a number of new innovations to its social payments app CommBank Kaching this week. Since launching Kaching for the iPhone last year, the app has been downloaded over 365,000 times and seen over $1 billion worths of transfer made. Now, the Commonwealth Bank has announced that the ‘peer-to-peer’ mobile payment app is now available for Google Android smartphones."
Use of Mobile Banking Services Expected to Triple in Finland
"According to a survey conducted by TNS Gallup, the use of mobile banking services is expected to triple in Finland. During the last 12 months, 11% of Finns aged between 16 and 60 years have used mobile banking services and 30% would like to use them in the future. Mobile service is seen as a complementary channel and will not, however, replace other service channels in the near future*."
Kenya's mobile payment revolution
"The mobile banking revolution has already happened, but it has nothing to do with Apple, Google, or Microsoft, and isn't in the US, Europe, or Japan. Instead, it started with a service called m-Pesa that launched in Kenya in 2007. Just three years later, the service had been used by more than half the Kenyan population and as of March of this year it had been used by 15 million people in the country."
BDO, Smart bring mobile banking to new heights
"BDO Unibank Inc. has been making banking more convenient for the public with the use of mobile phone technology. With the mobile phone and a Smart prepaid card, BDO customers can practically do bank transactions anywhere, anytime. With the help of leading telecommunications provider Smart Communications Inc. (Smart), BDO introduced the Smart Money prepaid card that also serves as an automated teller machine (ATM), and a debit card."
Retail Banking in Slumdog City Seen Booming With Wireless
"For a good look at the future of retail banking -- and mobile-phone profits -- in the developing world, consider the competition between corporate giants in Dharavi, the Indian shantytown that was the setting for the film 'Slumdog Millionaire.' And also consider that they are copying a strategy already used, with great success, in Kenya.
Thursday, June 7, 2012
International Mobile Banking Updates - Jun 7
Confidence in security of mobile banking
"There's confidence security checks have to be passed through before money can move around through mobile banking. A number of New Zealand banks have launched a phone app, some of which don't require a login every time they're used. Massey University senior banking lecturer Dr Claire Matthews says while that might be the case, the apps vary in what information they provide."
EIB launches banking iPhone app
"Emirates Islamic Bank (EIB), a leading Islamic financial institution, has launched its mobile banking via iPhone, allowing users to access online banking from their smartphone. The new Arabic-enabled application is a first-of-its-kind offering from an Islamic bank in the UAE. To activate the service, the Emirates Islamic Bank application can be downloaded from the Apple App Store."
The kids are all right... with mobile banking
"New research suggests that students are the demographic most excited about using their smartphones for banking or other financial services. Research by YouGov suggests that students, that is those in full time education over the age of 18, are more likely to use their smartphones to manage their finances than any other group in Britain. YouGov's research was sponsored by UK digital banking provider, Intelligent Environments, and found that 53% of students who own a smartphone would manage their bank accounts via their mobile device if they could, compared to 44% of people in the full time workplace."
Just digital banking for me please: 66.7% expats in Canada do their banking online
"There are a number of areas around the world which attract more than their fair share of expats and Canada is certainly one of them. It seems to be a mixture of a very strong economy, a very attractive lifestyle and a country which is still in the developing stage. As a consequence it seems fair to assume that Canada will become more and more popular amongst expats and a growing variety of banking services will be required."
Good response to BoV’s mobile banking
"Bank of Valletta said yesterday that just two months after launching BOV Mobile, subscriptions for this new service have already surpassed the 8,500 mark. BOV Mobile Banking and BOV Mobile Pay are platforms using the latest technology and security features to give customers the ability to effect banking transactions, anytime, anywhere through their smart phones and to enable real-time person-to-person fund transfers. The former offers the convenience of most of the functions of internet banking via one’s own Apple iPhoneTM and AndroidTM smart phone. The latter allows the user to immediately transfer money to any registered BoV account-holder."
Businesses continue to embrace mobile banking
"Business banking customers are increasingly keen to access their accounts via mobile devices. Online banking has taken off rapidly in recent years and it seems that companies are embracing the concept just as much as Aussies on the street. Westpac bosses recently confirmed that it now has more than one million mobile banking customers – consisting of personal and business clients."
"There's confidence security checks have to be passed through before money can move around through mobile banking. A number of New Zealand banks have launched a phone app, some of which don't require a login every time they're used. Massey University senior banking lecturer Dr Claire Matthews says while that might be the case, the apps vary in what information they provide."
EIB launches banking iPhone app
"Emirates Islamic Bank (EIB), a leading Islamic financial institution, has launched its mobile banking via iPhone, allowing users to access online banking from their smartphone. The new Arabic-enabled application is a first-of-its-kind offering from an Islamic bank in the UAE. To activate the service, the Emirates Islamic Bank application can be downloaded from the Apple App Store."
The kids are all right... with mobile banking
"New research suggests that students are the demographic most excited about using their smartphones for banking or other financial services. Research by YouGov suggests that students, that is those in full time education over the age of 18, are more likely to use their smartphones to manage their finances than any other group in Britain. YouGov's research was sponsored by UK digital banking provider, Intelligent Environments, and found that 53% of students who own a smartphone would manage their bank accounts via their mobile device if they could, compared to 44% of people in the full time workplace."
Just digital banking for me please: 66.7% expats in Canada do their banking online
"There are a number of areas around the world which attract more than their fair share of expats and Canada is certainly one of them. It seems to be a mixture of a very strong economy, a very attractive lifestyle and a country which is still in the developing stage. As a consequence it seems fair to assume that Canada will become more and more popular amongst expats and a growing variety of banking services will be required."
Good response to BoV’s mobile banking
"Bank of Valletta said yesterday that just two months after launching BOV Mobile, subscriptions for this new service have already surpassed the 8,500 mark. BOV Mobile Banking and BOV Mobile Pay are platforms using the latest technology and security features to give customers the ability to effect banking transactions, anytime, anywhere through their smart phones and to enable real-time person-to-person fund transfers. The former offers the convenience of most of the functions of internet banking via one’s own Apple iPhoneTM and AndroidTM smart phone. The latter allows the user to immediately transfer money to any registered BoV account-holder."
Businesses continue to embrace mobile banking
"Business banking customers are increasingly keen to access their accounts via mobile devices. Online banking has taken off rapidly in recent years and it seems that companies are embracing the concept just as much as Aussies on the street. Westpac bosses recently confirmed that it now has more than one million mobile banking customers – consisting of personal and business clients."
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."
Wednesday, February 1, 2012
International Mobile Banking Updates - Feb 1
Mobile Banking Takes Off In Nigeria
"When he graduated from the Stanford Graduate School of Business with an MBA in 2005, Nigerian-born Tayo Oviosu said advice from the business world in his home country was loud and clear—'don't come back.' At that time, he explained, 'Nigeria was still about who you knew, and people did not yet properly value experience from abroad.'"
Cellulant to run Barclays M-Banking services
"Cellulant Kenya has sealed a deal to provide mobile banking services for Barclays Africa across its markets in the continent. In a venture dubbed, ‘One Africa’ Barclays Bank has entered into a deal with Cellulant to offer satisfying customer digital experience."
Emerging Markets Set Stage for Mobile Wallet Shopping
"Increased use of mobile money in Kenya has created a ripe environment for the use of near field communication (NFC) technology and other forms of mobile wallets which could be more widely accepted as payment systems compared to traditional ones such as credit cards. Adoption of the alternative payment systems could not only further slow the growth of the use of credit cards but could also see the creation of a new market for NFC-enabled devices including point of sale terminals and mobile phones in the country."
Is mobile banking demand on the climb?
"Canadians are increasingly embracing mobile computing but are we keeners to access our bank accounts from smartphones or tablets? The answer to that question depends on whom you talk to. From the customer's perspective, mobile banking is about convenience. For the banks, mobile banking is about providing self-service options and increasing the number of transactions per customer. Thus more transactions will take place but at a lower cost-per-transaction."
MICROCAPITAL BRIEF: Obopay, Warid Telecom Partner to Launch Warid Pesa Mobile Banking and Payment Service in Uganda
"Obopay, a mobile payments company headquartered in the US state of California, has partnered with Warid Telecom, a Pakistan-based postpaid cellular phone service provider, to launch a mobile banking and payment service in Uganda called Warid Pesa. Warid Pesa allows customers to transfer money to other people and merchants, request money, obtain statements, obtain account balances, change personal identity numbers and top up prepaid phones for themselves or others."
Citi Hungary mobile app with GPS puts branches/ATMs on the map
"Batara Sianturi, Citi Country Officer for Hungary, said, 'Citibank Mobile Banking allows customers to enjoy a superior, secure and smart banking experience anytime and anywhere in the world, including transactions on their Citibank accounts. With this new application, we have made another significant step in reaching our goal to become the world's and Hungary's leading digital bank.'"
New considerations for mobile banking strategies in Europe
"comScore and Telefónica Germany announced the results of "Connected Europe" Study which highlights how smartphones and tablets are shifting media consumption in Europe. With regards to mobile banking, the study shows that over 20% of smartphone users in Europe accessed their bank accounts with their mobile devices and 12% used electronic payment services to pay for goods from their mobile phone."
Mobile Banking 2012 to reach new heights
"Trade Conferences International is proud to bring you the second annual Mobile Banking Southern Africa conference and exhibition. It will be held at the Indaba Hotel, Fourways, from 13 to 15 March and promises to be all that the 2011 event was, and more."
"When he graduated from the Stanford Graduate School of Business with an MBA in 2005, Nigerian-born Tayo Oviosu said advice from the business world in his home country was loud and clear—'don't come back.' At that time, he explained, 'Nigeria was still about who you knew, and people did not yet properly value experience from abroad.'"
Cellulant to run Barclays M-Banking services
"Cellulant Kenya has sealed a deal to provide mobile banking services for Barclays Africa across its markets in the continent. In a venture dubbed, ‘One Africa’ Barclays Bank has entered into a deal with Cellulant to offer satisfying customer digital experience."
Emerging Markets Set Stage for Mobile Wallet Shopping
"Increased use of mobile money in Kenya has created a ripe environment for the use of near field communication (NFC) technology and other forms of mobile wallets which could be more widely accepted as payment systems compared to traditional ones such as credit cards. Adoption of the alternative payment systems could not only further slow the growth of the use of credit cards but could also see the creation of a new market for NFC-enabled devices including point of sale terminals and mobile phones in the country."
Is mobile banking demand on the climb?
"Canadians are increasingly embracing mobile computing but are we keeners to access our bank accounts from smartphones or tablets? The answer to that question depends on whom you talk to. From the customer's perspective, mobile banking is about convenience. For the banks, mobile banking is about providing self-service options and increasing the number of transactions per customer. Thus more transactions will take place but at a lower cost-per-transaction."
MICROCAPITAL BRIEF: Obopay, Warid Telecom Partner to Launch Warid Pesa Mobile Banking and Payment Service in Uganda
"Obopay, a mobile payments company headquartered in the US state of California, has partnered with Warid Telecom, a Pakistan-based postpaid cellular phone service provider, to launch a mobile banking and payment service in Uganda called Warid Pesa. Warid Pesa allows customers to transfer money to other people and merchants, request money, obtain statements, obtain account balances, change personal identity numbers and top up prepaid phones for themselves or others."
Citi Hungary mobile app with GPS puts branches/ATMs on the map
"Batara Sianturi, Citi Country Officer for Hungary, said, 'Citibank Mobile Banking allows customers to enjoy a superior, secure and smart banking experience anytime and anywhere in the world, including transactions on their Citibank accounts. With this new application, we have made another significant step in reaching our goal to become the world's and Hungary's leading digital bank.'"
New considerations for mobile banking strategies in Europe
"comScore and Telefónica Germany announced the results of "Connected Europe" Study which highlights how smartphones and tablets are shifting media consumption in Europe. With regards to mobile banking, the study shows that over 20% of smartphone users in Europe accessed their bank accounts with their mobile devices and 12% used electronic payment services to pay for goods from their mobile phone."
Mobile Banking 2012 to reach new heights
"Trade Conferences International is proud to bring you the second annual Mobile Banking Southern Africa conference and exhibition. It will be held at the Indaba Hotel, Fourways, from 13 to 15 March and promises to be all that the 2011 event was, and more."
Monday, November 21, 2011
International Mobile Banking Updates - Nov 21
Visa, Fundamo unveil emerging markets MCommerce product
"Visa, the world’s largest credit and debit card network, has unveiled a new product that allows people to access a prepaid account through their mobile phone. The product, which appears to be nameless, was developed in conjunction with Fundamo, a leading South African mobile money platform bought out by Visa for $110m earlier this year."
Global Banks Offer Surprisingly Few Good Mobile Apps
"The mobile applications of Deutsche Bank and the French bank Caisse d'Epargne come out as winners in a benchmarking of a total of almost 200 mobile apps, offered by the world´s top 50 banks (see table below). In the MyPrivateBanking survey Deutsche Bank’s apps scored especially well for the comprehensive content and the integration with other online media like Facebook, Twitter and the bank’s own website."
Mobile banking on the rise among young Canadians
"Nearly half of Canadian smartphone users, or 49 per cent, are expected to do banking from their devices in the next year or two, a new survey from ING Direct says. In a release, ING said that number reaches 64 per cent when looking at smartphone users between 18 and 34 years old."
Rural Women Banking By Mobile Phone
"Collecting the monthly subscriptions for her co-operative has always been a headache for Thelma Nare, 41. This is because Nare lives in Tshitshi, Plumtree in rural Zimbabwe, about 60 kilometres away from the humdrum of the nearest town centre where banks are located."
"Visa, the world’s largest credit and debit card network, has unveiled a new product that allows people to access a prepaid account through their mobile phone. The product, which appears to be nameless, was developed in conjunction with Fundamo, a leading South African mobile money platform bought out by Visa for $110m earlier this year."
Global Banks Offer Surprisingly Few Good Mobile Apps
"The mobile applications of Deutsche Bank and the French bank Caisse d'Epargne come out as winners in a benchmarking of a total of almost 200 mobile apps, offered by the world´s top 50 banks (see table below). In the MyPrivateBanking survey Deutsche Bank’s apps scored especially well for the comprehensive content and the integration with other online media like Facebook, Twitter and the bank’s own website."
Mobile banking on the rise among young Canadians
"Nearly half of Canadian smartphone users, or 49 per cent, are expected to do banking from their devices in the next year or two, a new survey from ING Direct says. In a release, ING said that number reaches 64 per cent when looking at smartphone users between 18 and 34 years old."
Rural Women Banking By Mobile Phone
"Collecting the monthly subscriptions for her co-operative has always been a headache for Thelma Nare, 41. This is because Nare lives in Tshitshi, Plumtree in rural Zimbabwe, about 60 kilometres away from the humdrum of the nearest town centre where banks are located."
Tuesday, August 9, 2011
International Mobile Banking Updates - Aug 9
Barclays Mobile Banking
BNP Paribas and Orange to launch next-generation mobile bank
"BNP Paribas has formed a strategic business partnership with Orange to jointly launch a new, entirely mobile, banking service. The deal between the French banking group and mobile network operator is designed to allow the pair to share expertise in their respective areas of excellence and is believed to be the first of its type in the world."
The popularity of mobile banking in Canada continues to rise: Report
"An analysis of the Canadian online banking sector in Q1 2011 by comScore showed that there were 13.3 million online banking customers across the top Canadian financial institutions who manage checking or savings accounts online. Included in the competitive set for this analysis were the BMO Financial Group, National Bank of Canada (BNC), Canadian International Bank of Commerce (CIBC), Desjardins Group, HSBC, ING Group, President's Choice Financial, Royal Bank of Canada (RBC), Scotiabank and TD Bank."
Africa sprints ahead with mobile banking
"Visa’s recent $110 million purchase of South African mobile financial services infrastructure provider, Fundamo, certainly let the cat out of the bag. While most of the world might still be feeling their way around mobile banking, many African countries are making large strides forward in this space and it seems likely that this is where mobile banking models are going to evolve."
Stakeholders Discuss Mobile Banking Regulatory Framework
"Policy makers, regulators and stakeholders in the banking and telecommunications sectors have met in Accra to discuss and work towards the development and growth of an ideal regulatory regime for the new industry of Mobile Payment System (MPS).
MPS or mobile wallet is an alternative payment method, whereby instead of paying with cash, cheque or credit cards, a consumer can use a mobile phone to pay for a wide range of goods and services."
BNP Paribas and Orange to launch next-generation mobile bank
"BNP Paribas has formed a strategic business partnership with Orange to jointly launch a new, entirely mobile, banking service. The deal between the French banking group and mobile network operator is designed to allow the pair to share expertise in their respective areas of excellence and is believed to be the first of its type in the world."
The popularity of mobile banking in Canada continues to rise: Report
"An analysis of the Canadian online banking sector in Q1 2011 by comScore showed that there were 13.3 million online banking customers across the top Canadian financial institutions who manage checking or savings accounts online. Included in the competitive set for this analysis were the BMO Financial Group, National Bank of Canada (BNC), Canadian International Bank of Commerce (CIBC), Desjardins Group, HSBC, ING Group, President's Choice Financial, Royal Bank of Canada (RBC), Scotiabank and TD Bank."
Africa sprints ahead with mobile banking
"Visa’s recent $110 million purchase of South African mobile financial services infrastructure provider, Fundamo, certainly let the cat out of the bag. While most of the world might still be feeling their way around mobile banking, many African countries are making large strides forward in this space and it seems likely that this is where mobile banking models are going to evolve."
Stakeholders Discuss Mobile Banking Regulatory Framework
"Policy makers, regulators and stakeholders in the banking and telecommunications sectors have met in Accra to discuss and work towards the development and growth of an ideal regulatory regime for the new industry of Mobile Payment System (MPS).
MPS or mobile wallet is an alternative payment method, whereby instead of paying with cash, cheque or credit cards, a consumer can use a mobile phone to pay for a wide range of goods and services."
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