"You can now use your smartphone to settle up the dinner check or pay the babysitter or person who mows your lawn.
As CBS 2′s Kristine Johnson reported, person-to-person payments are the latest craze in mobile banking.
'Banking is turning into a companion activity,' said Gavin Michael, head of digital for Chase Bank.
'You’re doing it while you’re out and about, while you’re doing other things, while you’re living your life.'
Customers can use their phones to send payments directly to someone else’s bank account. Bank of America, Wells Fargo, Citibank and Chase all have such mobile banking programs." Continue Reading
Showing posts with label Chase. Show all posts
Showing posts with label Chase. Show all posts
Thursday, October 17, 2013
Thursday, October 3, 2013
Mobile Banking Matures and Keynote Announces Who Does It Best – Overall Adoption Reaches 33%, Mobile Payments Expected to Reach $90 Billion by 2017
"Keynote®, the global leader in Internet and mobile cloud testing and monitoring, today announced the results of the Fall 2013 edition of the Keynote Mobile Banking Scorecard, first launched in 2011 and the standard in benchmarking consumer mobile banking offerings.
In the latest Scorecard, Chase achieved its fourth consecutive win for Overall Score.
Also repeating were Wells Fargo in second place and Bank of America in third, with U.S. Bank moving into the top tier, tying with Bank of America. Leaders for individual mobile modes included BB&T, repeating as the leading provider of SMS (text) banking capabilities and Bank of America repeating for the leading Android banking app.
Looking across the four modes -- Text, Mobile Web, iPhone App and Android App -- the Scorecard found that Chase performed best in two of the four categories, Ease of Use and Quality & Availability, while Bank of America took first in Functionality and Wells Fargo led in the Privacy & Security category." Continue Reading
Also repeating were Wells Fargo in second place and Bank of America in third, with U.S. Bank moving into the top tier, tying with Bank of America. Leaders for individual mobile modes included BB&T, repeating as the leading provider of SMS (text) banking capabilities and Bank of America repeating for the leading Android banking app.
Looking across the four modes -- Text, Mobile Web, iPhone App and Android App -- the Scorecard found that Chase performed best in two of the four categories, Ease of Use and Quality & Availability, while Bank of America took first in Functionality and Wells Fargo led in the Privacy & Security category." Continue Reading
Sunday, September 29, 2013
Chase Keeps Lead in Keynote's Mobile App Scorecard
"Keynote has ranked Chase's mobile banking app the top in its class for the fourth time in a row. The bank's leadership is based on the fact that it offers robust functionality, a strong user experience, and streamlined navigation, according to Susan Foulds, manager of the Keynote Mobile Banking Scorecard.
That said, scoring among the top-tier banks - Chase, Bank of America, Wells Fargo and newcomer U.S. Bank -- is tightening, Foulds says." Continue Reading
That said, scoring among the top-tier banks - Chase, Bank of America, Wells Fargo and newcomer U.S. Bank -- is tightening, Foulds says." Continue Reading
Thursday, December 6, 2012
Mobile Banking Updates - Dec 6
Mobile Banking Adoption Grows
"Chase, Bank of America, and USAA are the top mobile banking providers equipped to deal with rising expectations from consumers, according to a new report from Javelin Strategy and Research. Javelin Strategy & Research’s latest report evaluates the 25 leading U.S. retail financial institutions (FIs) mobile banking offerings by comparing features, mobile access, app, Web and text banking, and mobile alerts."
LevelUp to Provide Mobile Payments at Louisville's KFC Yum! Center
"The KFC Yum! Center is the first sports arena to allow visitors to pay with their mobile phone at all hospitality and merchandise stands thanks to hospitality partner Centerplate, which announced that it has tapped LevelUp to provide the KFC Yum! Center's mobile payment experience at 200 merchandise and hospitality stands."
Applying Developing-Market Mobile Banking Models in the Developed World
"A U.S. federal report released in September found that 8.2 percent of households in the country are unbanked. That’s nearly 10 million households, and 17 million adults. Another 20.4 percent are underbanked—or 24 million households, and 51 million adults. Those numbers add up to more than a quarter of the population of the U.S. The percentage of both unbanked and underbanked has increased slightly since the last survey (conducted in 2009). Americans are also using alternative financial services more, including payday loans, check cashing, money orders, pawn shops, etc. Both increases are most likely due to the economic recession and resulting high unemployment rates."
Mobile banking and 'the real world' come together at the ATM
"With all the talk of 'the death of cash,' the trusty old ATM spitting out cash isn't going anywhere anytime soon. But financial services companies are exploring ways to more closely connect smartphones and apps with the ATM, seeing the ubiquitous cash machine as way to link mobile banking and payments to the 'real world.' One way ATM manufacturers are looking at the connection is by offering mobile 'prestaging' of cash withdrawals at the ATM."
New Boston Fed Report on Mobile Payments Technology
"The Federal Reserve Bank of Boston has released a new report entitled, "Mobile Phone Technology: 'Smarter' Than We Thought"."
"Chase, Bank of America, and USAA are the top mobile banking providers equipped to deal with rising expectations from consumers, according to a new report from Javelin Strategy and Research. Javelin Strategy & Research’s latest report evaluates the 25 leading U.S. retail financial institutions (FIs) mobile banking offerings by comparing features, mobile access, app, Web and text banking, and mobile alerts."
LevelUp to Provide Mobile Payments at Louisville's KFC Yum! Center
"The KFC Yum! Center is the first sports arena to allow visitors to pay with their mobile phone at all hospitality and merchandise stands thanks to hospitality partner Centerplate, which announced that it has tapped LevelUp to provide the KFC Yum! Center's mobile payment experience at 200 merchandise and hospitality stands."
Applying Developing-Market Mobile Banking Models in the Developed World
"A U.S. federal report released in September found that 8.2 percent of households in the country are unbanked. That’s nearly 10 million households, and 17 million adults. Another 20.4 percent are underbanked—or 24 million households, and 51 million adults. Those numbers add up to more than a quarter of the population of the U.S. The percentage of both unbanked and underbanked has increased slightly since the last survey (conducted in 2009). Americans are also using alternative financial services more, including payday loans, check cashing, money orders, pawn shops, etc. Both increases are most likely due to the economic recession and resulting high unemployment rates."
Mobile banking and 'the real world' come together at the ATM
"With all the talk of 'the death of cash,' the trusty old ATM spitting out cash isn't going anywhere anytime soon. But financial services companies are exploring ways to more closely connect smartphones and apps with the ATM, seeing the ubiquitous cash machine as way to link mobile banking and payments to the 'real world.' One way ATM manufacturers are looking at the connection is by offering mobile 'prestaging' of cash withdrawals at the ATM."
New Boston Fed Report on Mobile Payments Technology
"The Federal Reserve Bank of Boston has released a new report entitled, "Mobile Phone Technology: 'Smarter' Than We Thought"."
Thursday, October 11, 2012
Mobile Banking Updates - Oct 11
Mobile Banking: what’s the potential of mobile for banks? (part1)
"There is no doubt that the channel of the future, for banking, is the mobile phone. Already an integral part of everyday life for everything from internet access to accessing social networks and sharing holiday photos, the ‘phone’ function is increasingly seen as a peripheral purpose, rather than the device’s raison d’être. According to Cisco, global mobile data use grew 2.3-fold in 2011, more than doubling for the fourth year in a row. This year’s estimate is that global mobile data traffic grew 133 per cent in 2011 [1]."
Award-Winning Chase Mobile® App Now Available for Windows® Phone
"Chase announced today that the Chase Mobile® app, featuring Chase QuickDepositSM and Chase QuickPaySM , is now available for Windows® Phone. The app is fully featured, which allows customers to track their Chase account activity, deposit checks, and pay bills and credit cards virtually whenever and wherever they want."
"There is no doubt that the channel of the future, for banking, is the mobile phone. Already an integral part of everyday life for everything from internet access to accessing social networks and sharing holiday photos, the ‘phone’ function is increasingly seen as a peripheral purpose, rather than the device’s raison d’être. According to Cisco, global mobile data use grew 2.3-fold in 2011, more than doubling for the fourth year in a row. This year’s estimate is that global mobile data traffic grew 133 per cent in 2011 [1]."
Award-Winning Chase Mobile® App Now Available for Windows® Phone
"Chase announced today that the Chase Mobile® app, featuring Chase QuickDepositSM and Chase QuickPaySM , is now available for Windows® Phone. The app is fully featured, which allows customers to track their Chase account activity, deposit checks, and pay bills and credit cards virtually whenever and wherever they want."
Sunday, September 30, 2012
Mobile Banking Updates - Sept 30
Keeping pace with technology, customers
"Back in the day, innovation to a bank meant a new toaster for customers opening an account. These days, it’s high-tech or die, as banks give customers up-to-the-nanosecond ways of checking on their money, transferring it around, paying bills and more, all from the comfort of their home or more likely, the palm of their hand."
Mobility - A New Way for Banking
"We often talk about mobile banking from a technological point of view, about the fancy new tools which allow customers to view the status of their accounts or execute simple transactions. Many have the view that mobile banking is a simply new channel for online banking, bringing the functionality available on the desktop to the mobile phone. I would contend that for mobile banking to be truly successful, it needs to be much more; it needs to be a new way to do banking, a permanent space for the bank and its customers to interact."
Mobile, P2P and New Competitors: Navigating the Transformation of Payments
"The growth of digital channels – from mobile banking and P2P networks to mobile deposit – is transforming the payments industry. Financial institutions with large IT budgets and vast geographical reach are rolling out new capabilities and services to attract consumers, while new, non-banking competitors are aggressively offering alternative payment methods. These competitors are positioned to circumvent the relationship members have with their credit unions by fragmenting their payments behaviors."
Companies partner to offer rapid deployment of mobile RDC
"Bluepoint Solutions announced a partnership with Malauzai Software to provide community financial institutions with a rapidly deployable mobile deposit offering. Through the partnership, Bluepoint's mobile deposit solution QwikDeposit ToGo will be bundled with Malauzai's SmartApps mobile banking application to provide institutions with an integrated, end-to-end mobile banking and mobile deposit product."
iovation Reports 12% of Financial Services Transactions Originate From Mobile Devices
"iovation, the Device Reputation Authority™ protecting online businesses from fraud and abuse, today announced that 12 percent of all financial services transactions it protects originate from mobile devices, such as iPhones, iPads, Android and BlackBerry devices. Compared to the same period in 2011, where only 2 percent of financial transactions were from mobile devices, it is clear that consumers are adapting quickly to mobile banking technology."
Chase Mobile goes Lumia
"As one of the biggest banking institutions in the United States, JP Morgan Chase carries a lot of weight. This is why it’s exciting to see Chase Mobile coming to Windows Phone and the Nokia Lumia line of phones. Mobile banking is growing in popularity, especially in the US. TechCrunch reports that more than 46% of Americans will use mobile banking by 2017. With Chase Mobile for Nokia Lumia, you’re able to monitor your account, perform transactions, find locations and find out how to contact Chase if you need to."
"Back in the day, innovation to a bank meant a new toaster for customers opening an account. These days, it’s high-tech or die, as banks give customers up-to-the-nanosecond ways of checking on their money, transferring it around, paying bills and more, all from the comfort of their home or more likely, the palm of their hand."
Mobility - A New Way for Banking
"We often talk about mobile banking from a technological point of view, about the fancy new tools which allow customers to view the status of their accounts or execute simple transactions. Many have the view that mobile banking is a simply new channel for online banking, bringing the functionality available on the desktop to the mobile phone. I would contend that for mobile banking to be truly successful, it needs to be much more; it needs to be a new way to do banking, a permanent space for the bank and its customers to interact."
Mobile, P2P and New Competitors: Navigating the Transformation of Payments
"The growth of digital channels – from mobile banking and P2P networks to mobile deposit – is transforming the payments industry. Financial institutions with large IT budgets and vast geographical reach are rolling out new capabilities and services to attract consumers, while new, non-banking competitors are aggressively offering alternative payment methods. These competitors are positioned to circumvent the relationship members have with their credit unions by fragmenting their payments behaviors."
Companies partner to offer rapid deployment of mobile RDC
"Bluepoint Solutions announced a partnership with Malauzai Software to provide community financial institutions with a rapidly deployable mobile deposit offering. Through the partnership, Bluepoint's mobile deposit solution QwikDeposit ToGo will be bundled with Malauzai's SmartApps mobile banking application to provide institutions with an integrated, end-to-end mobile banking and mobile deposit product."
iovation Reports 12% of Financial Services Transactions Originate From Mobile Devices
"iovation, the Device Reputation Authority™ protecting online businesses from fraud and abuse, today announced that 12 percent of all financial services transactions it protects originate from mobile devices, such as iPhones, iPads, Android and BlackBerry devices. Compared to the same period in 2011, where only 2 percent of financial transactions were from mobile devices, it is clear that consumers are adapting quickly to mobile banking technology."
Chase Mobile goes Lumia
"As one of the biggest banking institutions in the United States, JP Morgan Chase carries a lot of weight. This is why it’s exciting to see Chase Mobile coming to Windows Phone and the Nokia Lumia line of phones. Mobile banking is growing in popularity, especially in the US. TechCrunch reports that more than 46% of Americans will use mobile banking by 2017. With Chase Mobile for Nokia Lumia, you’re able to monitor your account, perform transactions, find locations and find out how to contact Chase if you need to."
Sunday, August 12, 2012
Mobile Banking Updates - Aug 12
Wells Fargo Again Named Best Internet Bank in U.S.
"In its 13th annual World’s Best Internet Banks competition for North America, Global Finance magazine also recognized Wells Fargo, among corporate/institutional banks, as Best Mobile Banking (for the second consecutive year), Best Online Treasury Services, and Best Web Site Design."
Bank of America Is Going (More) Mobile
"Mobile banking is gaining in popularity, and banks are beginning to take notice. One of these forward-looking institutions is Bank of America (NYS: BAC) , and it has just taken a great stride toward maintaining its leading position in this arena. Hot on the heels of an announcement that B of A would be closing more ATMs nationwide came the good news: The bank would soon be rolling out updated mobile banking apps for Apple's (NAS: AAPL) iPad and iPhone, as well as for Google's Android-based tablets and smartphones."
Chase App Makes Mobile Banking Easier With 24 Month Transaction Display, Access to Chase Liquid Acounts, and More
"While other mobile banking applications are just now receiving features such as deposit scanning, Chase is moving onward and upward, updating their Android app with new features and enhancements."
How Mobile is Reshaping Every Banking Channel
"The emergence of new banking channels has significant implications for financial institutions, particularly when it comes to cross-channel information and service delivery. Financial institutions have to have a strategic plan to not only deliver appropriate capabilities through the appropriate channels, but to make sure the channels work together in a complementary fashion."
"In its 13th annual World’s Best Internet Banks competition for North America, Global Finance magazine also recognized Wells Fargo, among corporate/institutional banks, as Best Mobile Banking (for the second consecutive year), Best Online Treasury Services, and Best Web Site Design."
Bank of America Is Going (More) Mobile
"Mobile banking is gaining in popularity, and banks are beginning to take notice. One of these forward-looking institutions is Bank of America (NYS: BAC) , and it has just taken a great stride toward maintaining its leading position in this arena. Hot on the heels of an announcement that B of A would be closing more ATMs nationwide came the good news: The bank would soon be rolling out updated mobile banking apps for Apple's (NAS: AAPL) iPad and iPhone, as well as for Google's Android-based tablets and smartphones."
Chase App Makes Mobile Banking Easier With 24 Month Transaction Display, Access to Chase Liquid Acounts, and More
"While other mobile banking applications are just now receiving features such as deposit scanning, Chase is moving onward and upward, updating their Android app with new features and enhancements."
How Mobile is Reshaping Every Banking Channel
"The emergence of new banking channels has significant implications for financial institutions, particularly when it comes to cross-channel information and service delivery. Financial institutions have to have a strategic plan to not only deliver appropriate capabilities through the appropriate channels, but to make sure the channels work together in a complementary fashion."
Sunday, August 5, 2012
Mobile Banking Updates - Aug 5
MOBILE 2.0 BBVA Compass develops own apps
"Mobile banking today is where online banking was about ten years ago, but its development is accelerating rapidly. Following a lukewarm start with software vendors three years ago, BBVA Compass bit the bullet and brought its mobile banking entirely in-house. Now it's rolled out updated apps for Android, iPhone, iPad, and Blackberry and has plans to steadily increase functionality. The bank estimates that 20% of its customers use its mobile apps."
New Mobile App Leads to New Core
"With six total branches, of which five are located inside the walls of the manufacturing facilities and corporate offices of Indianapolis-based pharmaceutical giant Eli Lilly and Co., executives at Eli Lilly Federal Credit Union know how important it is to make access to services quick and easy for members who reside in every state and 37 foreign countries."
Simple Money Handling App For iPhone
"Mobile banking has seen progress in recent years, but it has mostly been based on the networks’ accessibility and willingness to provide the service. However, the flexibility of the iOS has given banks a new way to promote their services wirelessly through applications. Developing applications for Apple’s platforms has become the top priority for most banks while some of the bigger ones such as Citibank and Chase already have functioning applications that let you handle your transactions from your phone. Some pure payment companies such as PayPal have even developed apps that enable you to scan the credit card with the camera and use it to transfer money."
Digital Money, Mobile Wallets and Latin America
"A recent wave of global and regional announcements regarding mobile wallets and payment systems has casual and close followers alike asking some the same questions. What exactly are they talking about? Whether the statements are promoting digital money, mobile payments, mobile banking, prepaid or a mobile wallet, one thing is certain: the lack of consistency in terminology and the vagueness typical of early product releases has made the task of distinguishing all the more difficult with each new announcement, confusing would-be industry participants and potential end-users. So, it would seem that some demystifying is in order:"
Mobile Payments: Can Banks Seize the Moment to Transform Consumer Finance?
"Although payments have existed in some form since the dawn of civilization, there probably never has been as much innovation, uncertainty and activity in the payments space as there is now. Much of that uncertainty has to do with the role -- today and in the future -- of banks in payments. Banks and financial services firms, including the major card companies, continue to provide much of the infrastructure that processes, supports and maintains payments. But it often seems as if most of the innovation around payments that is capturing the hearts and minds of customers (consumers and corporates) is coming from non-bank players, ranging from Internet behemoth Google to a host of much smaller and less-well-known technology firms."
"Mobile banking today is where online banking was about ten years ago, but its development is accelerating rapidly. Following a lukewarm start with software vendors three years ago, BBVA Compass bit the bullet and brought its mobile banking entirely in-house. Now it's rolled out updated apps for Android, iPhone, iPad, and Blackberry and has plans to steadily increase functionality. The bank estimates that 20% of its customers use its mobile apps."
New Mobile App Leads to New Core
"With six total branches, of which five are located inside the walls of the manufacturing facilities and corporate offices of Indianapolis-based pharmaceutical giant Eli Lilly and Co., executives at Eli Lilly Federal Credit Union know how important it is to make access to services quick and easy for members who reside in every state and 37 foreign countries."
Simple Money Handling App For iPhone
"Mobile banking has seen progress in recent years, but it has mostly been based on the networks’ accessibility and willingness to provide the service. However, the flexibility of the iOS has given banks a new way to promote their services wirelessly through applications. Developing applications for Apple’s platforms has become the top priority for most banks while some of the bigger ones such as Citibank and Chase already have functioning applications that let you handle your transactions from your phone. Some pure payment companies such as PayPal have even developed apps that enable you to scan the credit card with the camera and use it to transfer money."
Digital Money, Mobile Wallets and Latin America
"A recent wave of global and regional announcements regarding mobile wallets and payment systems has casual and close followers alike asking some the same questions. What exactly are they talking about? Whether the statements are promoting digital money, mobile payments, mobile banking, prepaid or a mobile wallet, one thing is certain: the lack of consistency in terminology and the vagueness typical of early product releases has made the task of distinguishing all the more difficult with each new announcement, confusing would-be industry participants and potential end-users. So, it would seem that some demystifying is in order:"
Mobile Payments: Can Banks Seize the Moment to Transform Consumer Finance?
"Although payments have existed in some form since the dawn of civilization, there probably never has been as much innovation, uncertainty and activity in the payments space as there is now. Much of that uncertainty has to do with the role -- today and in the future -- of banks in payments. Banks and financial services firms, including the major card companies, continue to provide much of the infrastructure that processes, supports and maintains payments. But it often seems as if most of the innovation around payments that is capturing the hearts and minds of customers (consumers and corporates) is coming from non-bank players, ranging from Internet behemoth Google to a host of much smaller and less-well-known technology firms."
Monday, March 5, 2012
Mobile Banking Updates - Mar 5
Chase, Capital One and Barclaycard First to Place Their Cards in the Isis(TM) Mobile Wallet
"Isis(TM), the mobile commerce joint venture created by AT&T Mobility, T-Mobile USA and Verizon Wireless, today announced that Chase, Capital One and Barclaycard have entered into agreements with Isis enabling their credit, debit and prepaid cards to be placed into the Isis Mobile Wallet. Starting in mid-2012, consumers will be able to load their eligible Chase, Capital One and Barclaycard cards into their Isis Mobile Wallet and shop at participating merchants, starting with locations across Salt Lake City and Austin, Texas."
Chase Selects Gemalto for Trusted Service Management
"Chase announced today that it has selected Gemalto (Euronext NL0000400653 GTO), a leader in digital security, to provide its Trusted Service Management (TSM) solution for Chase's enterprise-wide mobile payments platform. Gemalto's TSM will provision and manage the credit and debit card data of Chase customers, validating authenticity and supporting information delivery over the air. The Isis(TM) mobile wallet, developed through a joint venture between AT&T Mobility, T-Mobile USA and Verizon Wireless, will be the first to benefit from this partnership.
3 Hot Banking Markets Beyond the Obvious
"When it comes to identifying potential geographic markets for growth and investment, banks and technology companies alike have been focusing on the prominent BRIC nations: Brazil, Russia, India and China. While these four dominant countries have populations, economies, infrastructures and cultures that are attractive to financial services organizations seeking new opportunities to grow beyond their local bases, it may be increasingly difficult for outside players to differentiate themselves as the competition accelerates."
Consumers lives becoming more digital, including financial management
"Consumers are increasingly gravitating toward online and mobile channels for daily financial management, and that tablet banking services will be increasingly in demand, according to the Fiserv Consumer Trends survey. The survey was completed by 3,000 individuals representative of the U.S. online population of households in August 2011."
Bank of the James to launch mobile banking options
"Bank of the James is launching applications for smartphones starting Monday that allow customers to check balances, pay bills and transfer funds from anywhere. The bank launched social media accounts on Facebook, Twitter and Google+ on Thursday. It also will have a YouTube channel. In addition to mobile applications and a new website for viewing on mobile phones, the company will start a service where users can send a text message for functions like checking an account balance."
"Isis(TM), the mobile commerce joint venture created by AT&T Mobility, T-Mobile USA and Verizon Wireless, today announced that Chase, Capital One and Barclaycard have entered into agreements with Isis enabling their credit, debit and prepaid cards to be placed into the Isis Mobile Wallet. Starting in mid-2012, consumers will be able to load their eligible Chase, Capital One and Barclaycard cards into their Isis Mobile Wallet and shop at participating merchants, starting with locations across Salt Lake City and Austin, Texas."
Chase Selects Gemalto for Trusted Service Management
"Chase announced today that it has selected Gemalto (Euronext NL0000400653 GTO), a leader in digital security, to provide its Trusted Service Management (TSM) solution for Chase's enterprise-wide mobile payments platform. Gemalto's TSM will provision and manage the credit and debit card data of Chase customers, validating authenticity and supporting information delivery over the air. The Isis(TM) mobile wallet, developed through a joint venture between AT&T Mobility, T-Mobile USA and Verizon Wireless, will be the first to benefit from this partnership.
3 Hot Banking Markets Beyond the Obvious
"When it comes to identifying potential geographic markets for growth and investment, banks and technology companies alike have been focusing on the prominent BRIC nations: Brazil, Russia, India and China. While these four dominant countries have populations, economies, infrastructures and cultures that are attractive to financial services organizations seeking new opportunities to grow beyond their local bases, it may be increasingly difficult for outside players to differentiate themselves as the competition accelerates."
Consumers lives becoming more digital, including financial management
"Consumers are increasingly gravitating toward online and mobile channels for daily financial management, and that tablet banking services will be increasingly in demand, according to the Fiserv Consumer Trends survey. The survey was completed by 3,000 individuals representative of the U.S. online population of households in August 2011."
Bank of the James to launch mobile banking options
"Bank of the James is launching applications for smartphones starting Monday that allow customers to check balances, pay bills and transfer funds from anywhere. The bank launched social media accounts on Facebook, Twitter and Google+ on Thursday. It also will have a YouTube channel. In addition to mobile applications and a new website for viewing on mobile phones, the company will start a service where users can send a text message for functions like checking an account balance."
Monday, February 6, 2012
Mobile Banking Updates - Feb 6
Bank of America drives app downloads via iAd campaign
"Financial institution Bank of America is using a mobile advertising campaign to catapult downloads of its mobile banking iPhone application. The ads walk users through the app’s features and educates consumers on Bank of America’s mobile banking. The ad campaign is running inside Apple’s iAd network."
Achieving A Mobile-First Mind
"Glen Reardon, head of industry, financial services advertising at Google, asked a simple question during a brief presentation at Celent’s Innovation & Insight Day in Boston on Thursday: How influential is the digital journey within the purchase process? Immensely. Reardon helps fortune 1000 companies across the insurance vertical with their overall market strategy. He conducted industry research with Shopper Sciences seeking to deconstruct the decision-making process for insurance consumers in an increasingly digital world."
Citi's iPad Banking App Now Accepts Credit Card Users
"Consumers yearning to track and analyze their credit card spending to the smallest degree with graphs, comparisons with past months and even with their peers are in luck. Citigroup Inc. on Tuesday announced an upgrade to its online banking application for Apple Inc.'s iPad that includes what Citi says is the first such robust iPad credit card account-analysis application."
Fidelity Launches Mobile Wallet
"Fidelity National Information Services Inc. (FIS) recently collaborated with mobile payments technology provider, Paydiant, to launch a cloud-based mobile payment solution, namely FIS Mobile Wallet. The solution, which is currently being implemented by a number of clients on a pilot basis, allows customers to use smartphones to make purchases at the point-of-sale (POS) as well as for online shopping."
Mobile : Banks That Dare: Will their guts come before glory
"At least one bank is ending 2011 on a high note. In December, Chase swept the honors in two mobile banking awards. Javelin Strategy and Research ranked their solution “Best in Class” above those of 24 retail banking heavyweights; Key Lime Interactive adjudged Chase’s mobile banking website and app the best among the top 4 U.S. banks."
"Financial institution Bank of America is using a mobile advertising campaign to catapult downloads of its mobile banking iPhone application. The ads walk users through the app’s features and educates consumers on Bank of America’s mobile banking. The ad campaign is running inside Apple’s iAd network."
Achieving A Mobile-First Mind
"Glen Reardon, head of industry, financial services advertising at Google, asked a simple question during a brief presentation at Celent’s Innovation & Insight Day in Boston on Thursday: How influential is the digital journey within the purchase process? Immensely. Reardon helps fortune 1000 companies across the insurance vertical with their overall market strategy. He conducted industry research with Shopper Sciences seeking to deconstruct the decision-making process for insurance consumers in an increasingly digital world."
Citi's iPad Banking App Now Accepts Credit Card Users
"Consumers yearning to track and analyze their credit card spending to the smallest degree with graphs, comparisons with past months and even with their peers are in luck. Citigroup Inc. on Tuesday announced an upgrade to its online banking application for Apple Inc.'s iPad that includes what Citi says is the first such robust iPad credit card account-analysis application."
Fidelity Launches Mobile Wallet
"Fidelity National Information Services Inc. (FIS) recently collaborated with mobile payments technology provider, Paydiant, to launch a cloud-based mobile payment solution, namely FIS Mobile Wallet. The solution, which is currently being implemented by a number of clients on a pilot basis, allows customers to use smartphones to make purchases at the point-of-sale (POS) as well as for online shopping."
Mobile : Banks That Dare: Will their guts come before glory
"At least one bank is ending 2011 on a high note. In December, Chase swept the honors in two mobile banking awards. Javelin Strategy and Research ranked their solution “Best in Class” above those of 24 retail banking heavyweights; Key Lime Interactive adjudged Chase’s mobile banking website and app the best among the top 4 U.S. banks."
Thursday, May 26, 2011
Banks offer cash transfers via cell number, e-mail address
"It's late at night, you need to pay the babysitter, and you're short on cash. Do you: a) fumble for your checkbook, b) pay her in quarters from your change jar, or c) promise to pay her tomorrow, after you've stopped by an ATM?
In a few months, you may have another option. Three of the nation's largest banks have launched a program that will allow customers to use their computers or smartphones to make electronic payments to another person's checking account." Continue Reading >>
In a few months, you may have another option. Three of the nation's largest banks have launched a program that will allow customers to use their computers or smartphones to make electronic payments to another person's checking account." Continue Reading >>
Monday, May 23, 2011
Mobile Banking Updates - May 23
Why Chase Continues to Update iPad App
"With constant technological developments, banks must be innovative in their designs. Having an iPhone app is not enough anymore, as Chase (NYSE: JPM) determined by developing the first mobile banking app specifically for the iPad, just a short time after Steve Jobs rolled it out."
3 Challenges Crippling Mobile Banking Today
"After attending the afternoon sessions of Net.Finance’s mobile focus day today, a number of challenges facing the industry’s efforts to successfully utilize the channel for new revenue and cost savings struck me as, well, annoying. Here are three hurdles highlighted in various sessions today"
Mobile Phone Banking and Payments on the Rise
"Making payments and checking bank accounts are becoming ever more popular activities which we carry out on our mobile phones according to the results of a new piece of research. In the last year mobile banking use has doubled, and this trend has really extended across all aspect of what is known as the “mobile wallet” industry. It has been reported in the TNS research study called Mobile Life that over 10% of us use a mobile phone to make payments these days."
ePayments Week: Who will deliver swipe-and-pay first?
"The coming ease of swiping and paying with your smartphone seems like an inevitability at this point, but there was some interesting speculation this week about who would bring it to us first and what the value would be. Forbes columnist Elizabeth Woyke reported that Isis' CEO Michael Abbott continues to expand the company's "mobile wallet" program, inviting Apple, Google, and Sprint into the big-tent effort."
"With constant technological developments, banks must be innovative in their designs. Having an iPhone app is not enough anymore, as Chase (NYSE: JPM) determined by developing the first mobile banking app specifically for the iPad, just a short time after Steve Jobs rolled it out."
3 Challenges Crippling Mobile Banking Today
"After attending the afternoon sessions of Net.Finance’s mobile focus day today, a number of challenges facing the industry’s efforts to successfully utilize the channel for new revenue and cost savings struck me as, well, annoying. Here are three hurdles highlighted in various sessions today"
Mobile Phone Banking and Payments on the Rise
"Making payments and checking bank accounts are becoming ever more popular activities which we carry out on our mobile phones according to the results of a new piece of research. In the last year mobile banking use has doubled, and this trend has really extended across all aspect of what is known as the “mobile wallet” industry. It has been reported in the TNS research study called Mobile Life that over 10% of us use a mobile phone to make payments these days."
ePayments Week: Who will deliver swipe-and-pay first?
"The coming ease of swiping and paying with your smartphone seems like an inevitability at this point, but there was some interesting speculation this week about who would bring it to us first and what the value would be. Forbes columnist Elizabeth Woyke reported that Isis' CEO Michael Abbott continues to expand the company's "mobile wallet" program, inviting Apple, Google, and Sprint into the big-tent effort."
Monday, May 9, 2011
Mobile Banking Updates - May 9
BankAtlantic Launches New On Demand SMS Text Message Banking
"BankAtlantic, Florida’s Most Convenient Bank, announced today the launch of its newest functionality in On Demand SMS Text Message Banking powered by Intuit Financial Services.
BankAtlantic’s free* Text Message Banking service combines a secure banking medium and the ease of sending and receiving a text message. Customers enjoy the convenience of checking account balances, viewing latest transactions, receiving low balance alerts, and making fund transfers to their primary account, using text messages from anywhere, at any time."
Entrust Introduces Advanced SDK, Enables Banks to Embed Transparent Strong Authentication into New or Existing Mobile Applications
"To improve the speed and efficiency in which financial institutions develop and provide customers secure, trusted mobile banking applications, Entrust, Inc., announces the Entrust IdentityGuard Mobile Software Development Kit (SDK) for today's popular mobile platforms, including Apple, Google Android, RIM BlackBerry and Java. This easy-to-use security toolkit helps banks transparently embed Entrust's strong authentication technology into an organization's new or existing mobile-banking application."
TD introduces next wave of mobile convenience
"As part of its ongoing commitment to providing comfortable and convenient customer experiences, TD Bank Group today announced an enhanced and expanded version of its popular mobile app. With more than one million North American downloads - the most of any Canadian bank - the latest version of the TD mobile app now offers several features unique to any Canadian mobile banking and investing app."
Bank of America Windows Phone 7 mobile banking app now available
"Bank of America has launched its own Windows Phone 7 mobile banking application. The application, available immediately, allows Bank of America users to manage their banking accounts straight from Windows Phone 7. Here’s the top features:"
Mybarclaycard now on mobile
"This quarter Barclaycard joined the mobile banking bandwagon and launched a new mobile service for its existing Internet Banking customers. The service can be accessed on most web enabled phones using the Barclaycard Online Banking login details and has been developed to compliment Barclaycards existing online services platform."
Chase Mobile iPad App Updated With QuickDeposit
"Chase released a new update of its Chase Mobile iPad application that sports an optimized interface to take advantage of the tablet’s larger screen real estate."
Bank of Internet USA Launches Enhanced Mobile Banking Experience for Customers
"Bank of Internet USA (NASDAQ: BOFI) announced today an enhanced mobile banking experience for its customers. Bank of Internet's Mobile Banking enhancements allow customers access to their accounts through their mobile phone via two options: Text Message Banking and Mobile Web."
BB&T introduces free Android app
"BB&T Corporation (NYSE: BBT) announced today it has launched a free Android application for both smartphone and tablet users. BB&T is one of only a few U.S. banks to offer a comprehensive mobile banking consumer and small business product suite – mobile Web, text banking, and mobile applications – for a wide range of mobile devices. The app is now available for download on the Android Marketplace. BlackBerry and iPhone apps were released in 2010."
Tyfone offers m-banking service (US)
"Tyfone has introduced its mobile banking service. The service leverages Tyfone’s u4ia mobile financial services platform that enables contactless payments via NFC technology.
Tyfone’s mobile banking service is delivered to banking customers via mobile applications, mobile websites or text messaging. The tool aims to provide users with several features, such as checking balance, account history review, fund transfers, branch and ATM location lookup and bill pay."
"BankAtlantic, Florida’s Most Convenient Bank, announced today the launch of its newest functionality in On Demand SMS Text Message Banking powered by Intuit Financial Services.
BankAtlantic’s free* Text Message Banking service combines a secure banking medium and the ease of sending and receiving a text message. Customers enjoy the convenience of checking account balances, viewing latest transactions, receiving low balance alerts, and making fund transfers to their primary account, using text messages from anywhere, at any time."
Entrust Introduces Advanced SDK, Enables Banks to Embed Transparent Strong Authentication into New or Existing Mobile Applications
"To improve the speed and efficiency in which financial institutions develop and provide customers secure, trusted mobile banking applications, Entrust, Inc., announces the Entrust IdentityGuard Mobile Software Development Kit (SDK) for today's popular mobile platforms, including Apple, Google Android, RIM BlackBerry and Java. This easy-to-use security toolkit helps banks transparently embed Entrust's strong authentication technology into an organization's new or existing mobile-banking application."
TD introduces next wave of mobile convenience
"As part of its ongoing commitment to providing comfortable and convenient customer experiences, TD Bank Group today announced an enhanced and expanded version of its popular mobile app. With more than one million North American downloads - the most of any Canadian bank - the latest version of the TD mobile app now offers several features unique to any Canadian mobile banking and investing app."
Bank of America Windows Phone 7 mobile banking app now available
"Bank of America has launched its own Windows Phone 7 mobile banking application. The application, available immediately, allows Bank of America users to manage their banking accounts straight from Windows Phone 7. Here’s the top features:"
Mybarclaycard now on mobile
"This quarter Barclaycard joined the mobile banking bandwagon and launched a new mobile service for its existing Internet Banking customers. The service can be accessed on most web enabled phones using the Barclaycard Online Banking login details and has been developed to compliment Barclaycards existing online services platform."
Chase Mobile iPad App Updated With QuickDeposit
"Chase released a new update of its Chase Mobile iPad application that sports an optimized interface to take advantage of the tablet’s larger screen real estate."
Bank of Internet USA Launches Enhanced Mobile Banking Experience for Customers
"Bank of Internet USA (NASDAQ: BOFI) announced today an enhanced mobile banking experience for its customers. Bank of Internet's Mobile Banking enhancements allow customers access to their accounts through their mobile phone via two options: Text Message Banking and Mobile Web."
BB&T introduces free Android app
"BB&T Corporation (NYSE: BBT) announced today it has launched a free Android application for both smartphone and tablet users. BB&T is one of only a few U.S. banks to offer a comprehensive mobile banking consumer and small business product suite – mobile Web, text banking, and mobile applications – for a wide range of mobile devices. The app is now available for download on the Android Marketplace. BlackBerry and iPhone apps were released in 2010."
Tyfone offers m-banking service (US)
"Tyfone has introduced its mobile banking service. The service leverages Tyfone’s u4ia mobile financial services platform that enables contactless payments via NFC technology.
Tyfone’s mobile banking service is delivered to banking customers via mobile applications, mobile websites or text messaging. The tool aims to provide users with several features, such as checking balance, account history review, fund transfers, branch and ATM location lookup and bill pay."
Monday, February 28, 2011
Mobile Banking Updates - Feb 28
eMarketer: Mobile Payments Take Hold Around the World
"A sixfold increase in the volume of mobile payment transactions is on the way in the next four years, according to one research firm. A forecast from Yankee Group predicts the worldwide transaction value of mobile payments will total $984 billion by 2014, up from $162 billion last year. That includes transactions from mobile banking, international and domestic remittances, contactless cards, mobile coupons and near-field communications."
Chase Taps Mitek’s Image Innovation
"Mitek’s patented mobile remote deposit technology has found another taker in Chase, which will team with the tech firm to develop a series of new mobile RDC products that work across multiple smartphone operating systems.
Chase will expand its QuickDeposit feature—which enables consumers to deposit checks by clicking their mobile phone camera—by deploying Mitek’s mobile banking and image capture analytics. The deposit services will join other mobile financial services offered by Chase, including text banking, mobile banking apps for iPhone and Android and instant action alerts."
NFC: The Power to 'Touch and Transact'
"Ever-evolving mobile technology has demonstrated the ways in which it is changing lives by connecting friends and families around the globe, consistently introducing new handset-centric applications that simplify our everyday lives and delivering critical services such as mobile banking and mobile health. However, while both smartphones and traditional mobile phones offer basic voice and SMS, the divide begins to widen when you introduce capabilities for additional services such as ring tone, music, video, billing top-ups, etc."
Fifth Third Bank Selects ClairMail as Mobile Banking Provider
"ClairMail, Inc., the leader in mobile banking and payment solutions, today announced that Fifth Third Bank has selected ClairMail to power its new mobile banking technology and services. With the new support from ClairMail, Fifth Third Bank customers will enhance their mobile banking experience with better access to their accounts, bill paying capabilities and real time personalized text alerts, thereby gaining greater control over their accounts and overall finances. Using ClairMail's robust and scalable mobile platform, Fifth Third also has the flexibility to connect to multiple financial systems and future-proof their mobile powered offerings."
ePayments Week: More Androids banking
"As the number of Android users swells past the number of iPhone users, it should come as no surprise that as of December, 2010, there's more mobile banking on Android than on iPhones. However, Carlo Cardilli suggests that could change as the number of Verizon iPhones grows and those users take up mobile banking.
A recent Forrester survey says 12% of the US online population banks on their phones, up from 5% two years ago. Forrester says that's about 10 million users, and predicts that will grow to 50 million by 2015. That growth seems reasonable, given that users who discover mobile banking tend to, over time, use it more as they get used to it, especially for simple transactions like checking balances and transferring funds between accounts. Still, Penny Crosman with Bank Systems & Technology notes that 35% of online users shy away from mobile banking because they worry it's not safe and 24% don't see the point and would just as soon wait until they reach the ATM."
Mint Paves the Path – This Time in Mobile
"Think again if you ever wondered if Mint would lose its edge after its acquisition by giant Intuit. The “startup” once again is setting the benchmark, this time in the realm where personal finance management hits mobile.
Mint upgraded its iPhone app this month to enable consumers to register and add accounts from the mobile device – relieving consumers of the dual-channel hassle of logging online so that they can be mobile. The news is worth watching because it will provide a measure of whether banks and credit unions are short-sighted if they force customers to sign up for online banking even if they prefer mobile banking instead. But Mint also understands that it’s a mistake to think that mobile can simply mirror the online experience. The critical question is which personal finance tools work better online, and which ones work better in mobile."
"A sixfold increase in the volume of mobile payment transactions is on the way in the next four years, according to one research firm. A forecast from Yankee Group predicts the worldwide transaction value of mobile payments will total $984 billion by 2014, up from $162 billion last year. That includes transactions from mobile banking, international and domestic remittances, contactless cards, mobile coupons and near-field communications."
Chase Taps Mitek’s Image Innovation
"Mitek’s patented mobile remote deposit technology has found another taker in Chase, which will team with the tech firm to develop a series of new mobile RDC products that work across multiple smartphone operating systems.
Chase will expand its QuickDeposit feature—which enables consumers to deposit checks by clicking their mobile phone camera—by deploying Mitek’s mobile banking and image capture analytics. The deposit services will join other mobile financial services offered by Chase, including text banking, mobile banking apps for iPhone and Android and instant action alerts."
NFC: The Power to 'Touch and Transact'
"Ever-evolving mobile technology has demonstrated the ways in which it is changing lives by connecting friends and families around the globe, consistently introducing new handset-centric applications that simplify our everyday lives and delivering critical services such as mobile banking and mobile health. However, while both smartphones and traditional mobile phones offer basic voice and SMS, the divide begins to widen when you introduce capabilities for additional services such as ring tone, music, video, billing top-ups, etc."
Fifth Third Bank Selects ClairMail as Mobile Banking Provider
"ClairMail, Inc., the leader in mobile banking and payment solutions, today announced that Fifth Third Bank has selected ClairMail to power its new mobile banking technology and services. With the new support from ClairMail, Fifth Third Bank customers will enhance their mobile banking experience with better access to their accounts, bill paying capabilities and real time personalized text alerts, thereby gaining greater control over their accounts and overall finances. Using ClairMail's robust and scalable mobile platform, Fifth Third also has the flexibility to connect to multiple financial systems and future-proof their mobile powered offerings."
ePayments Week: More Androids banking
"As the number of Android users swells past the number of iPhone users, it should come as no surprise that as of December, 2010, there's more mobile banking on Android than on iPhones. However, Carlo Cardilli suggests that could change as the number of Verizon iPhones grows and those users take up mobile banking.
A recent Forrester survey says 12% of the US online population banks on their phones, up from 5% two years ago. Forrester says that's about 10 million users, and predicts that will grow to 50 million by 2015. That growth seems reasonable, given that users who discover mobile banking tend to, over time, use it more as they get used to it, especially for simple transactions like checking balances and transferring funds between accounts. Still, Penny Crosman with Bank Systems & Technology notes that 35% of online users shy away from mobile banking because they worry it's not safe and 24% don't see the point and would just as soon wait until they reach the ATM."
Mint Paves the Path – This Time in Mobile
"Think again if you ever wondered if Mint would lose its edge after its acquisition by giant Intuit. The “startup” once again is setting the benchmark, this time in the realm where personal finance management hits mobile.
Mint upgraded its iPhone app this month to enable consumers to register and add accounts from the mobile device – relieving consumers of the dual-channel hassle of logging online so that they can be mobile. The news is worth watching because it will provide a measure of whether banks and credit unions are short-sighted if they force customers to sign up for online banking even if they prefer mobile banking instead. But Mint also understands that it’s a mistake to think that mobile can simply mirror the online experience. The critical question is which personal finance tools work better online, and which ones work better in mobile."
Tuesday, February 22, 2011
Mobile Banking Updates - Feb 22
MWC: is three a magic number for banks?
"The Microsoft-Nokia partnership, which was announced last week, could represent a critical step towards reducing the complexity of mobile banking app development. In fact, yesterday Steve Ballmer, CEO of Microsoft and Stephen Elop, CEO of Nokia took to the stage at Mobile World Congress (MWC) to discuss the importance of creating a strong "third ecosystem” for mobile devices, platform and services."
Mobile Banking to Increase Five-Fold Over the Next Five Years
"Rapid consumer adoption of smartphones and increased use of the mobile Web will result in more customers using online banking to check balances, review transactions, or receive alerts, according to the latest Forrester research. Emmett Higdon, senior analyst at Forrester and author of the report, proposes banks should consider this trend now to create a more robust, sophisticated execution of online banking. Higdon chronicles the smartphone adoption through five major factors: enthusiastic smartphone adoption, greater mobile Web use, steady increase in supply, enhanced mobile usability, and generational shifts."
Chase Announces Strategic Agreement with Mitek Systems
"Chase today announced a strategic agreement with Mitek Systems, Inc. (OTC: MITK.OB), a developer of advanced-image analytics and mobile-document-capture applications, to develop a suite of innovative image-capture solutions across multiple smartphone operating systems. The agreement enables Chase to build on the success of its award-winning QuickDeposit feature by deploying Mitek’s mobile-banking and advanced image-capture and analytics products across a variety of smartphone operating systems. QuickDeposit allows customers to deposit checks anytime and anywhere with a click of their mobile phone camera."
Mobile Banking Devices Can Deliver Strong Returns for Banks That Measure Customers’ Usage Patterns and Target Consumers’ Needs, According to Accenture Research
"When banks enable their customers to use a mobile device to check balances, transfer money, pay bills, apply for credit or manage their personal finances, they can achieve returns on investment of as high as 300 percent, according to a new study commissioned by Accenture (NYSE:ACN).
Banks generating the highest returns on their mobile banking investments achieved ROI by emphasizing customer convenience, providing rich exchanges of information between bank and customer and accurately measuring how customers use their mobile phones to bank, according to the research which was conducted by TowerGroup on behalf of Accenture."
"The Microsoft-Nokia partnership, which was announced last week, could represent a critical step towards reducing the complexity of mobile banking app development. In fact, yesterday Steve Ballmer, CEO of Microsoft and Stephen Elop, CEO of Nokia took to the stage at Mobile World Congress (MWC) to discuss the importance of creating a strong "third ecosystem” for mobile devices, platform and services."
Mobile Banking to Increase Five-Fold Over the Next Five Years
"Rapid consumer adoption of smartphones and increased use of the mobile Web will result in more customers using online banking to check balances, review transactions, or receive alerts, according to the latest Forrester research. Emmett Higdon, senior analyst at Forrester and author of the report, proposes banks should consider this trend now to create a more robust, sophisticated execution of online banking. Higdon chronicles the smartphone adoption through five major factors: enthusiastic smartphone adoption, greater mobile Web use, steady increase in supply, enhanced mobile usability, and generational shifts."
Chase Announces Strategic Agreement with Mitek Systems
"Chase today announced a strategic agreement with Mitek Systems, Inc. (OTC: MITK.OB), a developer of advanced-image analytics and mobile-document-capture applications, to develop a suite of innovative image-capture solutions across multiple smartphone operating systems. The agreement enables Chase to build on the success of its award-winning QuickDeposit feature by deploying Mitek’s mobile-banking and advanced image-capture and analytics products across a variety of smartphone operating systems. QuickDeposit allows customers to deposit checks anytime and anywhere with a click of their mobile phone camera."
Mobile Banking Devices Can Deliver Strong Returns for Banks That Measure Customers’ Usage Patterns and Target Consumers’ Needs, According to Accenture Research
"When banks enable their customers to use a mobile device to check balances, transfer money, pay bills, apply for credit or manage their personal finances, they can achieve returns on investment of as high as 300 percent, according to a new study commissioned by Accenture (NYSE:ACN).
Banks generating the highest returns on their mobile banking investments achieved ROI by emphasizing customer convenience, providing rich exchanges of information between bank and customer and accurately measuring how customers use their mobile phones to bank, according to the research which was conducted by TowerGroup on behalf of Accenture."
Sunday, January 30, 2011
Mobile Banking Updates - Jan 30
Wells Fargo shares mobile banking usage patterns at Mobile Marketing Forum
"Wells Fargo’s mobile customer base is looking increasingly like the overall customer base, a senior executive from the bank told delegates at the Mobile Marketing Forum. The bank’s mobile channels have also found widespread use across different demographics. The channels, however, are extremely popular with out-of-office workers, Generation Y and Millennial consumers, and mobile professionals."
Great Expectations: Global Security Challenge
"Mobile banking, social media, cloud computing. These all are part of the global banking landscape today, and with these innovations come new expectations, says Alessandro Moretti of (ISC)2 and UBS Investment Bank. 'There's an expectation that security will be built-in and be part and parcel of all those factors,' Moretti says. 'On the other hand, there's increased concern over who has access to personal and corporate data.'"
Mobile Banking Ubiquitous Among Large Banks, Chase's Declared Best
"The wide-scale consumer adoption of smartphones has pushed large retail banks to develop phone applications and mobile-formatted websites to help customers manage their accounts: a report released today by Corporate Insight found that all but one of the 16 large banks tracked by its Bank Monitor report offer mobile banking solutions to account holders through at least one delivery option, with many offering and promoting multiple options to clients and prospects."
U.S. Bank AccelaPay Mobile Banking Application Wins 2011 Paybefore Award
"Paybefore has chosen the U.S. Bank AccelaPay mobile banking application as a 2011 Paybefore Awards winner in the Best Virtual or Mobile Prepaid Application category. The awards are presented annually by Prepaid Media, whose Paybefore publications are the leading source of industry information for the global prepaid community."
BB&T introduces free downloadable iPad App
"BB&T has launched a free iPad application that allows more convenient banking access to its on-the-go clients. The BB&T iPad App is one of the first of its kind in the United States that’s not just a high-definition version of mobile banking. It is now available for download on the iTunes App Store."
"Wells Fargo’s mobile customer base is looking increasingly like the overall customer base, a senior executive from the bank told delegates at the Mobile Marketing Forum. The bank’s mobile channels have also found widespread use across different demographics. The channels, however, are extremely popular with out-of-office workers, Generation Y and Millennial consumers, and mobile professionals."
Great Expectations: Global Security Challenge
"Mobile banking, social media, cloud computing. These all are part of the global banking landscape today, and with these innovations come new expectations, says Alessandro Moretti of (ISC)2 and UBS Investment Bank. 'There's an expectation that security will be built-in and be part and parcel of all those factors,' Moretti says. 'On the other hand, there's increased concern over who has access to personal and corporate data.'"
Mobile Banking Ubiquitous Among Large Banks, Chase's Declared Best
"The wide-scale consumer adoption of smartphones has pushed large retail banks to develop phone applications and mobile-formatted websites to help customers manage their accounts: a report released today by Corporate Insight found that all but one of the 16 large banks tracked by its Bank Monitor report offer mobile banking solutions to account holders through at least one delivery option, with many offering and promoting multiple options to clients and prospects."
U.S. Bank AccelaPay Mobile Banking Application Wins 2011 Paybefore Award
"Paybefore has chosen the U.S. Bank AccelaPay mobile banking application as a 2011 Paybefore Awards winner in the Best Virtual or Mobile Prepaid Application category. The awards are presented annually by Prepaid Media, whose Paybefore publications are the leading source of industry information for the global prepaid community."
BB&T introduces free downloadable iPad App
"BB&T has launched a free iPad application that allows more convenient banking access to its on-the-go clients. The BB&T iPad App is one of the first of its kind in the United States that’s not just a high-definition version of mobile banking. It is now available for download on the iTunes App Store."
Sunday, December 12, 2010
Mobile Banking Updates - Dec 12
Smartphone Mobile Banking Use Approaches 50%
"ABI research has announced that about 50% of smartphone users are planning to use their devices for mobile banking, including mobile shopping. A parallel announcement this week highlighted the ABI survey findings when Wells Fargo began rolling out its mobile banking pilot. In its survey of 2,000 consumer technology users, ABI said nearly half of the responding smartphone users said they already or will soon use their phones for mobile shopping. A slightly higher percentage -- 53% -- use or intend to use their smartphones for mobile banking."
Accumulate unveils m-banking application security tech
"Accumulate launch the Safe Frame Library making today's mobile banking reaching the security level needed to enable mobile services, like monetary transfers and agreement signing."
Chase Introduces Mobile Banking App For Android
"Chase announced today that its new Chase Mobile Android Application with Chase QuickDeposit SM allows Android smartphone users to track their Chase account activity, deposit checks, and pay bills and credit cards whenever and wherever they want."
Wells Fargo to Roll Out Mobile Payments Pilot; Visa Demonstrating Capability at CARTES 2010
"Continuing its leadership in the mobile banking space, Wells Fargo & Company (NYSE:WFC) is rolling out its Visa® (NYSE:V) microSD mobile payment pilot. This San Francisco based pilot will include 200 Wells Fargo team members who are also users of specific BlackBerry® smartphones and iPhone™ models."
Study: Bank Of America Is Tops In Mobile
"Bank of America may still be in the public doghouse for the federal bailout money it received, but one thing the financial services provider is doing right is its mobile Web site, according to a study.
Mobile Web banking is no longer the poor sibling of downloadable mobile apps, according to Change Sciences Group, which also evaluated the sites of BB&T, Chase, ING Direct and PNC. The 70-page report looks at the current state of the art of mobile Web banking and placed Bank of America at the top of those evaluated."
Kenyan bank unveils mobile banking
"Faulu Kenya has introduced mobile banking where customers can open and operate their bank accounts, reports Daily Nation. Customers can transfer money within accounts and across mobile networks and do automatic and instant loan applications among others."
How the Mobile Web Will Change Mobile Banking
"As smartphone use rises, banks are looking for ways to help people bank on-the-go and build loyalty. But few banks have invested heavily in mobile web technology, opting instead to develop device-specific downloadable mobile apps. According to a new report released today by web researchers Change Sciences Group, this is likely to change."
Salin Bank Announces Availability of E-Statements, Mobile Banking
"Family owned and Indiana-based Salin Bank is pleased to announce the launch of two new banking applications and tools for its clients. The first application is the addition of e-statements. Designed as part of Salin Bank’s “green” initiative, e-statements will significantly reduce paper waste, as well as offer added convenience for clients. To sign up for e-statements, clients may go to Salin Bank’s Web site www.salin.com."
How the Mobile Web Will Change Mobile Banking
"As smartphone use rises, banks are looking for ways to help people bank on-the-go and build loyalty. But few banks have invested heavily in mobile web technology, opting instead to develop device-specific downloadable mobile apps. According to a new report released today by web researchers Change Sciences Group, this is likely to change."
"ABI research has announced that about 50% of smartphone users are planning to use their devices for mobile banking, including mobile shopping. A parallel announcement this week highlighted the ABI survey findings when Wells Fargo began rolling out its mobile banking pilot. In its survey of 2,000 consumer technology users, ABI said nearly half of the responding smartphone users said they already or will soon use their phones for mobile shopping. A slightly higher percentage -- 53% -- use or intend to use their smartphones for mobile banking."
Accumulate unveils m-banking application security tech
"Accumulate launch the Safe Frame Library making today's mobile banking reaching the security level needed to enable mobile services, like monetary transfers and agreement signing."
Chase Introduces Mobile Banking App For Android
"Chase announced today that its new Chase Mobile Android Application with Chase QuickDeposit SM allows Android smartphone users to track their Chase account activity, deposit checks, and pay bills and credit cards whenever and wherever they want."
Wells Fargo to Roll Out Mobile Payments Pilot; Visa Demonstrating Capability at CARTES 2010
"Continuing its leadership in the mobile banking space, Wells Fargo & Company (NYSE:WFC) is rolling out its Visa® (NYSE:V) microSD mobile payment pilot. This San Francisco based pilot will include 200 Wells Fargo team members who are also users of specific BlackBerry® smartphones and iPhone™ models."
Study: Bank Of America Is Tops In Mobile
"Bank of America may still be in the public doghouse for the federal bailout money it received, but one thing the financial services provider is doing right is its mobile Web site, according to a study.
Mobile Web banking is no longer the poor sibling of downloadable mobile apps, according to Change Sciences Group, which also evaluated the sites of BB&T, Chase, ING Direct and PNC. The 70-page report looks at the current state of the art of mobile Web banking and placed Bank of America at the top of those evaluated."
Kenyan bank unveils mobile banking
"Faulu Kenya has introduced mobile banking where customers can open and operate their bank accounts, reports Daily Nation. Customers can transfer money within accounts and across mobile networks and do automatic and instant loan applications among others."
How the Mobile Web Will Change Mobile Banking
"As smartphone use rises, banks are looking for ways to help people bank on-the-go and build loyalty. But few banks have invested heavily in mobile web technology, opting instead to develop device-specific downloadable mobile apps. According to a new report released today by web researchers Change Sciences Group, this is likely to change."
Salin Bank Announces Availability of E-Statements, Mobile Banking
"Family owned and Indiana-based Salin Bank is pleased to announce the launch of two new banking applications and tools for its clients. The first application is the addition of e-statements. Designed as part of Salin Bank’s “green” initiative, e-statements will significantly reduce paper waste, as well as offer added convenience for clients. To sign up for e-statements, clients may go to Salin Bank’s Web site www.salin.com."
How the Mobile Web Will Change Mobile Banking
"As smartphone use rises, banks are looking for ways to help people bank on-the-go and build loyalty. But few banks have invested heavily in mobile web technology, opting instead to develop device-specific downloadable mobile apps. According to a new report released today by web researchers Change Sciences Group, this is likely to change."
Sunday, November 21, 2010
Mobile Banking Updates - Nov 21
Nielsen: 13% Mobile Banking
"Only a small portion of U.S. consumers are banking via mobile phone, but that group is starting to grow to become a measurable presence, according to a new study from Nielsen. The research firm found that 13.2% of households accessed their bank account through a mobile device in second quarter 2010 compared 20.8% who accessed their account using the bank’s customer service call center. The mobile share is up from 11.6% in first quarter while call center access has remained relatively flat quarter-over-quarter."
Citi to invest in mobile and online to attract affluent customers
"Citigroup Inc (NYSE:C - News) plans to spend $3 billion to $4 billion on its consumer bank to attract more business from its wealthy, urban customers, the head of its North American consumer bank said on Wednesday."
ClairMail’s hiring points to eventual IPO
"Let’s start with that last item, which brings us to ClairMail, a San Rafael, Calif. start-up with a name we don’t quite understand but a business that’s easy to grok. And why should you care about them? Because start-up companies that want to get ready for the public markets need to grow in three primary metrics: customers, revenue and employees. It also helps to have a team of executives which has already taken a company through the maturation process.
If you’re looking for the next wave of IPO candidates flying low on the radar, start with companies that are adding big customers, hiring lots of workers and bringing in seasoned executives."
GoMo News discover mobile 419 scam, maybe
"By fluke, GoMo News just might have stumble across a mobile version of the Nigeria 419 money scam. 419 being the area code you’re asked to call in Nigeria. In this case, the fraudster appears to want to get hold of our mobile phone number and ask for our help. Perhaps we are being too suspicious or can one of our readers explain how the scam – involving MTN‘s Mobile Money banking – service might work?“This is what the original email said, “I opened an account with MTN mobile money last week on Tuesday 2nd/11/2010 and I saved 50,000 on that account.” Notice the currency isn’t mentioned."
Chase Mobile Banking App Coming To Android Early December
"Turns out that a teller at a Chase Bank location leaked out that the Chase Mobile App will be making its way to the Android Market in “early December”. This comes as great news to many Android owners who bank with Chase, as we’ve seen the nice features the Chase app is capable of on iOS."
Banking Challenges Posed by Internet
"'There are at least a couple challenges created by mobile-phone activity,' says Greg Rattray, the new head of security for BITS, a division of The Financial Services Roundtable.
Rattray, who joined BITS in September, says as more financial transactions and channels such as mobile emerge, Internet strains and security have to be addressed. 'The thing that we're increasingly concerned about is the nature of these (mobile) devices,' he says, 'and whether they can be properly secured so that we can enable people to use mobile banking.'"
Names You Need To Know in 2011: Mobile Money
"Mobile Money. Mobile Commerce. It’s so new it’s too early to say what name will ultimately stick, but over the next year we’re going to be hearing a lot more about our ability to zap funds between one-another without the shackles of coins, paper bills, plastic cards or checks."
Monitise to form joint venture with Best Buy Europe and Charles Dunstone
"Monitise plc, a UK-based provider of mobile banking and payments solutions, has agreed to form a joint venture to setup Mobile Money Network with Best Buy Europe Distributions Limited and Charles Dunstone to deliver mobile marketing and payments network. Both Monitise and Best Buy Europe are based in the UK."
"Only a small portion of U.S. consumers are banking via mobile phone, but that group is starting to grow to become a measurable presence, according to a new study from Nielsen. The research firm found that 13.2% of households accessed their bank account through a mobile device in second quarter 2010 compared 20.8% who accessed their account using the bank’s customer service call center. The mobile share is up from 11.6% in first quarter while call center access has remained relatively flat quarter-over-quarter."
Citi to invest in mobile and online to attract affluent customers
"Citigroup Inc (NYSE:C - News) plans to spend $3 billion to $4 billion on its consumer bank to attract more business from its wealthy, urban customers, the head of its North American consumer bank said on Wednesday."
ClairMail’s hiring points to eventual IPO
"Let’s start with that last item, which brings us to ClairMail, a San Rafael, Calif. start-up with a name we don’t quite understand but a business that’s easy to grok. And why should you care about them? Because start-up companies that want to get ready for the public markets need to grow in three primary metrics: customers, revenue and employees. It also helps to have a team of executives which has already taken a company through the maturation process.
If you’re looking for the next wave of IPO candidates flying low on the radar, start with companies that are adding big customers, hiring lots of workers and bringing in seasoned executives."
GoMo News discover mobile 419 scam, maybe
"By fluke, GoMo News just might have stumble across a mobile version of the Nigeria 419 money scam. 419 being the area code you’re asked to call in Nigeria. In this case, the fraudster appears to want to get hold of our mobile phone number and ask for our help. Perhaps we are being too suspicious or can one of our readers explain how the scam – involving MTN‘s Mobile Money banking – service might work?“This is what the original email said, “I opened an account with MTN mobile money last week on Tuesday 2nd/11/2010 and I saved 50,000 on that account.” Notice the currency isn’t mentioned."
Chase Mobile Banking App Coming To Android Early December
"Turns out that a teller at a Chase Bank location leaked out that the Chase Mobile App will be making its way to the Android Market in “early December”. This comes as great news to many Android owners who bank with Chase, as we’ve seen the nice features the Chase app is capable of on iOS."
Banking Challenges Posed by Internet
"'There are at least a couple challenges created by mobile-phone activity,' says Greg Rattray, the new head of security for BITS, a division of The Financial Services Roundtable.
Rattray, who joined BITS in September, says as more financial transactions and channels such as mobile emerge, Internet strains and security have to be addressed. 'The thing that we're increasingly concerned about is the nature of these (mobile) devices,' he says, 'and whether they can be properly secured so that we can enable people to use mobile banking.'"
Names You Need To Know in 2011: Mobile Money
"Mobile Money. Mobile Commerce. It’s so new it’s too early to say what name will ultimately stick, but over the next year we’re going to be hearing a lot more about our ability to zap funds between one-another without the shackles of coins, paper bills, plastic cards or checks."
Monitise to form joint venture with Best Buy Europe and Charles Dunstone
"Monitise plc, a UK-based provider of mobile banking and payments solutions, has agreed to form a joint venture to setup Mobile Money Network with Best Buy Europe Distributions Limited and Charles Dunstone to deliver mobile marketing and payments network. Both Monitise and Best Buy Europe are based in the UK."
Monday, July 5, 2010
Mobile Banking Updates - Jul 5
Chase Mobile Adds Check Deposits [iPhone App]
"Want to deposit money into your Chase account via check, but don’t have the time to head to your local branch? You might want to give the companies newest application a try. Using Chase Mobile for the iPhone users can now deposit checks into their accounts right from their phone."
Zions Bank Launches Free Mobile Banking Services
"Zions Bank, a subsidiary of Zions Bancorporation, announced the launch of its Mobile Banking service today, adding to the already comprehensive array of banking and financial services it offers. The free Mobile Banking service, available at www.zionsbank.com, allows consumer banking clients to use their mobile phones to access their Zions Bank accounts, view balances, and transfer funds."
Companies Compete for 2010 Prizes for Technological Advances in Asia
"And wireless applications continued to make inroads. WING, a mobile banking service developed by Australia & New Zealand Banking Group Ltd., launched in Cambodia, where many of its customers don't have banking accounts."
"Want to deposit money into your Chase account via check, but don’t have the time to head to your local branch? You might want to give the companies newest application a try. Using Chase Mobile for the iPhone users can now deposit checks into their accounts right from their phone."
Zions Bank Launches Free Mobile Banking Services
"Zions Bank, a subsidiary of Zions Bancorporation, announced the launch of its Mobile Banking service today, adding to the already comprehensive array of banking and financial services it offers. The free Mobile Banking service, available at www.zionsbank.com, allows consumer banking clients to use their mobile phones to access their Zions Bank accounts, view balances, and transfer funds."
Companies Compete for 2010 Prizes for Technological Advances in Asia
"And wireless applications continued to make inroads. WING, a mobile banking service developed by Australia & New Zealand Banking Group Ltd., launched in Cambodia, where many of its customers don't have banking accounts."
Thursday, May 20, 2010
Mobile Banking Updates - May 20
New Mobile Banking Product Launched in Kenya
"A new mobile banking product, targeting rural areas, has been launched in Kenya. Kenya's largest mobile operator, Safaricom, and fastest growing bank, Equity Bank, have unveiled M-Kesho, a mobile banking product targeting rural areas. M-Kesho will allow M-Pesa (Safaricom's mobile money transfer service) account holders to deposit money, withdraw cash and access loans."
Mobile banking services help consumers control funds
"Two free services from JP Morgan Chase & Co. may soon make mobile banking easier and more efficient for customers. Instant Action Text Alerts will send a message via text message immediately after the funds in a checking account falls below a predetermined amount. This is similar to the company’s low-balance account alerts, according to an announcement from Chase.
After receiving an alert, customers will be able to transfer funds by texting "T" and the desired amount of money. They may also transfer from one Chase account to another. Individuals interested in reviewing transactions on their mortgage, savings, credit card and other accounts may do so by texting Chase (24273)."
New Mobile Banking Text Service Launched by MBNA
"MBNA has launched a new mobile phone service that helps U.K. customers to text for their credit card information.
Within seconds, customers, with the help of the new Mobile Banking Text service, can use their mobile phone to get credit card account information, such as balance, payments and transactions, by simply texting to a dedicated mobile short-code number - 83838."
Are mobile payments reaching a tipping point in the US?
"The growth of mobile payments in the United States has stalled largely because the market’s diverse stakeholders have been unable to build compatible business models. But is the tipping point at hand?
The various players’ unwillingness to work together has further slowed the integration of supporting technologies such as Near Field Communication into handsets and has delayed merchant adoption of acceptance devices. However, while many market participants are struggling to achieve dominance in market share and revenues, the threat of losing out to alternatives continues to grow."
"A new mobile banking product, targeting rural areas, has been launched in Kenya. Kenya's largest mobile operator, Safaricom, and fastest growing bank, Equity Bank, have unveiled M-Kesho, a mobile banking product targeting rural areas. M-Kesho will allow M-Pesa (Safaricom's mobile money transfer service) account holders to deposit money, withdraw cash and access loans."
Mobile banking services help consumers control funds
"Two free services from JP Morgan Chase & Co. may soon make mobile banking easier and more efficient for customers. Instant Action Text Alerts will send a message via text message immediately after the funds in a checking account falls below a predetermined amount. This is similar to the company’s low-balance account alerts, according to an announcement from Chase.
After receiving an alert, customers will be able to transfer funds by texting "T" and the desired amount of money. They may also transfer from one Chase account to another. Individuals interested in reviewing transactions on their mortgage, savings, credit card and other accounts may do so by texting Chase (24273)."
New Mobile Banking Text Service Launched by MBNA
"MBNA has launched a new mobile phone service that helps U.K. customers to text for their credit card information.
Within seconds, customers, with the help of the new Mobile Banking Text service, can use their mobile phone to get credit card account information, such as balance, payments and transactions, by simply texting to a dedicated mobile short-code number - 83838."
Are mobile payments reaching a tipping point in the US?
"The growth of mobile payments in the United States has stalled largely because the market’s diverse stakeholders have been unable to build compatible business models. But is the tipping point at hand?
The various players’ unwillingness to work together has further slowed the integration of supporting technologies such as Near Field Communication into handsets and has delayed merchant adoption of acceptance devices. However, while many market participants are struggling to achieve dominance in market share and revenues, the threat of losing out to alternatives continues to grow."
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