Mobile Banking Updates - Apr 18

Mobile Banking & Payments by the Numbers
"Statement rewards provider and BillShrink parent, Truaxis, published a nice summary of mobile banking and payments on its blog (reprinted with permission below). A few Industry Players metrics at the bottom of the infographic have recently been updated:

* Starbucks said this week it has processed 42 million mobile payment, up from the 26 million (Venture Beat, 9 April 2012)
* Square has now shipped 1 million readers, up from 500,000; and is now processing $11 million per day, up from $4 mil (Splatf, 5 March 2012) "

Accenture Introduces New Software to Help Banks Integrate Customer Channels, Streamline Product Development and Pricing
"Accenture ACN -2.46% has introduced two new software products -- Accenture Multichannel Platform and Accenture Product and Fee Factory -- to help banks quickly and efficiently integrate customer channels, such as mobile, branch and online banking, and streamline product development and pricing.

Developed by Accenture Software, the new products are designed to help banks increase revenues, improve commercial offerings and reduce distribution costs by strengthening customer channels and product management."

Monitise launches HSBC banking app
"The iOS app allows customers to access up to 10 accounts on their smartphone, check balances, review recent transactions, and top-up airtime on up to five mobile phones. As part of the deal, Monitise will develop further mobile banking services for HSBC UK. Monitise COO Mike Keyworth said: 'Monitise is a proven partner to the world’s largest financial institutions which know they can trust it to deliver world-class, bank-grade products and services."

Orange adopts 'Quick Tap' mobile banking for Android
"Mobile network provider Orange has announced that 'Quick Tap' contactless payments will be opened to Android phones and all UK credit and debit card accounts, The Telegraph reports.

Although the company has yet to announce which Android handsets will be compatible with the contactless payments technology, it's the latest step in the evolution of mobile banking - following in the wake of similar applications such as Barclays' Pingit. "

International Mobile Banking Updates - Aug 9

Barclays Mobile Banking



BNP Paribas and Orange to launch next-generation mobile bank
"BNP Paribas has formed a strategic business partnership with Orange to jointly launch a new, entirely mobile, banking service. The deal between the French banking group and mobile network operator is designed to allow the pair to share expertise in their respective areas of excellence and is believed to be the first of its type in the world."

The popularity of mobile banking in Canada continues to rise: Report
"An analysis of the Canadian online banking sector in Q1 2011 by comScore showed that there were 13.3 million online banking customers across the top Canadian financial institutions who manage checking or savings accounts online. Included in the competitive set for this analysis were the BMO Financial Group, National Bank of Canada (BNC), Canadian International Bank of Commerce (CIBC), Desjardins Group, HSBC, ING Group, President's Choice Financial, Royal Bank of Canada (RBC), Scotiabank and TD Bank."

Africa sprints ahead with mobile banking
"Visa’s recent $110 million purchase of South African mobile financial services infrastructure provider, Fundamo, certainly let the cat out of the bag. While most of the world might still be feeling their way around mobile banking, many African countries are making large strides forward in this space and it seems likely that this is where mobile banking models are going to evolve."

Stakeholders Discuss Mobile Banking Regulatory Framework
"Policy makers, regulators and stakeholders in the banking and telecommunications sectors have met in Accra to discuss and work towards the development and growth of an ideal regulatory regime for the new industry of Mobile Payment System (MPS).

MPS or mobile wallet is an alternative payment method, whereby instead of paying with cash, cheque or credit cards, a consumer can use a mobile phone to pay for a wide range of goods and services."

Mobile Banking Updates - Nov 14

RDM and MShift partner to enable remote deposit capture for mobile banking
"RDM Corporation (TSX: RC | PowerRating), a Canadian developer of software and hardware products for electronic payment processing, said on Tuesday that it is enabling remote deposit capture capability for mobile banking under a partnership with MShift Inc, a provider of mobile banking solutions for financial institutions."

Orange rolls out money transfer service
"The launch makes Orange the fourth mobile phone operator to launch a money transfer service and is set to intensify competition in the industry as operators move to data in the wake of declining voice revenues. The partnership between Orange and Equity Bank is geared towards creating synergies between the two that enhances money transfer as well as mobile banking."

Latin Americas Mobile Banking Revolution
"New forecasts from ABI Research indicate that in 2015 about 244 million people worldwide will carry out financial transactions using their mobile phones. This growth in the financial cell phone sector is not specific to North America or Europe, and large investment is anticipated in regions like Latin America."

Mobile Business Banking Draws More Attention
"With mobile access now widely accepted as a consumer channel, more banks are turning their attention to businesses. Citizens Financial Group Inc., the Providence, R.I., parent of RBS Citizens and Citizens Bank of Pennsylvania, on Monday announced the availability of a new application for Apple Inc.'s iPhone for its treasury management customers called accessMOBILE."

M&T Bank Launches a New App for iPhone
"M&T Bank customers now have three ways to securely access their accounts using their mobile devices: Mobile Text Banking; Mobile Web Banking; and a brand new App for iPhone(R). The M&T Mobile Banking application for iPhone(R) is now available, at no charge, by clicking the App Store button on an Apple(R) mobile device and searching for 'M&T.'"

PNC Introduces Mobile Banking For Financial Executives
"PNC unveiled on November 8 PINACLE Mobile that enables financial executives to review balances and approve basic transactions in a secure environment using their mobile phones. PINACLE Mobile is a complementary channel to PNC's online banking portal for corporate customers known as PINACLE. "

Mobile is a must for financial institutions: study
"A new study finds that almost half of the top 100 financial institutions offer mobile banking services. Surprisingly, this activity is not concentrated among the top 25 or even top 50 banks, with many smaller banks actively utilizing vendor capabilities to offer mobile services. Of the top 100, 43 percent offer access via mobile Web, while 32 percent offer SMS banking and alerts and 32 percent offer applications."

Standard Chartered Bank Expects Migration To Mobile Banking
"Standard Chartered Bank Malaysia Bhd expects a significant migration of its internet banking customers towards mobile banking solutions in future, with the introduction of its latest solution, Breeze.
Head of Retail Banking Products, Consumer Banking, Anupam Shrivastava said this is in line with the increasing technology savvy customers in Malaysia, especially with mobile banking showing a significant progress of 178 per cent growth from 2007 to 2009."

Mobile Banking Updates - March 11

Nokia Unveils Ovi Store, Application Sales To Debut In May
"At the Mobile Word Congress in Barcelona, Nokia has unveiled its initiative to try and repeat the runaway succes of Apple’s App Store with its own mobile storefront dubbed Ovi Store. This was an expected move as the rumors about the Finnish mobile juggernaut’s mobile applications store already spread last week; they were late confirmed to Reuters by industry sources."

BlackBerry maker to open new online store
"The store's Web site, poised to rival Apple Inc. (NASDAQ:AAPL)'s AppStore, is called BlackBerry App World. It replaces the company's previous online store, App Center, National Business Review reported Friday. The Web site promises a convenient location for BlackBerry owners to download 'games, social networks, personal productivity applications and so much more.'"

Sybase unveils SMS services for mobile location and advertising
"Sybase has announced two new mobile services based on SMS messaging, one for phone users to get turn-by-turn directions, another for vendors to insert ads or promotions at the bottom of the message blocks. Both offerings are based on the SMS platform of the company’s Sybase 365 subsidiary, which processes yearly over 2 billion SMS and MMS messages that pass between subscribers on different mobile carriers."

Orange and Barclaycard will launch mobile payment services
"Orange, currently the world’s ninth largest mobile carrier, today announced a strategic partnership with Barclaycard, the global credit provider owned by Barclays plc. The two companies will launch a series of mobile financial services in the UK, with the final purpose of 'revolutionizing the way people pay on the high street and web.'"