Mobile Banking: Convenient, Efficient, Preferred

"As expected, mobile financial transactions are fast becoming ubiquitous. In fact, mobile banking has now hit Facebook. ING Canada has pioneered a system that allows customers to log into their bank accounts through the social network. Consumers can check balances, view pending transactions and get account updates." Continue Reading

The 'mobile wallet' is putting a hole in banks' pockets

"Bankers have a lot to worry about these days: stress tests, bad loans, cutting costs and increasingly trying to drive their customers toward new technology in the hope that they can close more branches. But a recent conversation with a couple of senior Irish bankers revealed to me how worried they are about technology companies such as Google, Facebook, PayPal and Apple, who they see as potentially eating a large slice of the banker's lunch." Continue Reading

ICICI Bank launches Facebook app to tap mobile banking

"The joint ICICI Bank and Facebook app is known as Pockets and its focal feature is known as "Split n Share". As the name suggest, a customer can split and track group expenses, along with sharing them friends, reports bankingtech.com.

There is another feature called "Pay a Friend", and as the name suggests, allows a customer to pay a friend without having to know the recipient's bank account details. Additionally, there is also a prepaid mobile recharge feature and another feature to book movie tickets." Continue Reading

Mobile Banking Updates - Mar 11

Mobile Banking: Is It Heating Up Or Mostly Hype?
"Banks have been rolling out mobile wallet apps at a furious pace in recent days. The big question is whether they'll ever convince skeptical consumers to begin to zapping money around."

Apple, Google, Facebook and Amazon to lead m-payments gold-rush?
"Apple, Amazon, Facebook and Google - the 'gang of four' - have been driving forces behind a new technology cycle, dominated by the mobile phone and social media, which is merging the online and physical worlds, says Javelin. These huge companies are now seeking to use their strengths to crack a payments market currently led by financial institutions, card schemes and, increasingly, wireless carriers. In a bid to predict the potential success of the competing factions, Javelin polled 5878 Americans to gauge public opinion on what it claims are three crucial ingredients for success: trust, innovation and privacy."

Mobility Matters – Tracking the Mobile Banking Revolution: Online Only
"Mobile Everywhere. Ask Mark Sievewright, a senior executive at Fiserv, to pinpoint three big trends changing the credit union landscape and here is what he said in late February at the New Jersey Credit Union League’s “Reality Check” conference: “mobile, mobile, mobile.” Mobile is not just about a new channel – although it is that – it fundamentally is about changed relationships. And it is growing incredible fast. Another “Reality Check” speaker, CUNA Mutual’s John Lass, flashed a slide that showed mobile users eclipsing the number of online banking users within a few years."

Should Mitek Systems Acquire Top Image Systems?
"One of the discussion topics on Micro Cap Club, has been about the possibility of Mitek Systems (MITK) acquiring Top Image Systems (TISA). Both Mitek Systems and Top Image Systems have similar stories via a history of working with large banks and leveraging those relationships to market and launch mobile banking applications. Mitek Systems was incorporated in 1986 and went public in the early 1990's. The company historically provided financial institutions with advanced imaging and analytics software to authenticate and extract data from checks and other documents."

Mobile Banking Updates - Aug 27

Purchasing Facebook Credits with Zong Mobile Payments
"At Glenbrook we believe that social eCommerce and virtual currencies are the new frontier of payments. Person-to-person transfers, charity donations, and micropayments for virtual goods (e.g. games, music, e-books, etc.) are exploding within social networks and as the 800-pound-gorilla in the social networking space, all eyes are on Facebook. Estimates vary, but $300-500 million in transactions may happen within Facebook in 2009 (note 1), although thus far precious few of those transactions are funded by a native Facebook payment mechanism."

Nokia Money - mobile financial services for the masses
"Nokia today introduced Nokia Money, a mobile financial service, which will offer basic financial management and payments from a mobile phone. It will allow you to send money to another person, using just their mobile phone number, pay for goods, services and bills or recharge pre-pad SIM cards. Financial services are widely considered a very significant market opprtunity for the future: there are 4 billion mobile phones, but only 1.6 billion bank accounts."

NTT DoCoMo hits 10m mobile wallet accounts
"The leading cellular operator in Japan, NTT DoCoMo, says that it now has 10 million regular users of its DCMX contactless credit card phones, run under its Osaifu-Keitai service (mobile wallet service). We understand that a subscriber is someone who pays for banking services as well as micropayment use on their phones, and there are many more handsets out that that have the technology installed."