"Utah-based Ally Bank has expanded its use of Fiserv's Popmoney person-to-person payments service. It now lets consumers send and receive funds from within the bank's mobile banking app.
Ally Bank, the direct banking unit of Ally Financial Inc., has offered Popmoney since 2011." Continue Reading
Showing posts with label P2P. Show all posts
Showing posts with label P2P. Show all posts
Wednesday, December 4, 2013
Tuesday, November 26, 2013
Would you pay the plumber by text? You'll soon be able to pay bills with a mobile, but one slip and your cash could vanish
"It's that annoying moment we all hate. Perhaps the window cleaner has popped by and you’re keen to get them to clean the dirty glass upstairs. Or, you’re at a café splitting the bill with friends.
Maybe a son or daughter is about to go out and is begging for cash. But then when you open your purse or wallet you realise that it’s empty — and there is no cash machine nearby." Continue Reading
Friday, November 22, 2013
Sub-Saharan Africa teeming with banking potential
"International banks' exposure to Sub-Saharan Africa stands at a paltry USD 210 billion, according to the Institute of International Finance.
British banks have traditionally had the largest exposure to the region, with Eurozone banks a distant second, but Asian banks are increasingly taking a bigger bite of that market share.
Chinese banks' presence in the region has reportedly risen, with China Development Bank lending USD 67 billion to the region during the past decade, compared to USD 55 billion lent by the World Bank." Continue Reading
Tuesday, November 19, 2013
CO-OP Financial Services Readying Mobile Card Controls Technology for Credit Union Members
"Once used primarily for balance inquiries, mobile banking and payments now encompass an ever-growing variety of financial transactions. Consumers today have the ability to make direct person-to-person payments and conveniently access all their accounts via a smartphone.
The ever-expanding use and feature set of mobile devices presents financial institutions with challenges to keep up with consumer demands, particularly for greater individual control of services." Continue Reading
Sunday, November 3, 2013
Ally Launches Mobile Payments Upgrades
"Direct bank Ally Bank announced it has expanded its mobile payments offerings, integrating Popmoney into its mob app and also adding a new mobile money transfer function. The banks said its customers can now send and receive money via Popmoney through Ally's mobile banking app, including with people who do not have an Ally Account.
Popmoney, a Fiserv product, is an electronic person-to-person payments service. In addition to being able to conduct regular Popmoney transactions, Ally's mobile banking users will now be able to view scheduled payments and payment history as well as set up and manage Popmoney contacts in Ally mobile banking." Continue Reading
Popmoney, a Fiserv product, is an electronic person-to-person payments service. In addition to being able to conduct regular Popmoney transactions, Ally's mobile banking users will now be able to view scheduled payments and payment history as well as set up and manage Popmoney contacts in Ally mobile banking." Continue Reading
Sunday, October 27, 2013
ICICI Bank launches Facebook app to tap mobile banking
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
Thursday, October 24, 2013
The Mobile Generation and Banks that Stand Still
"I went to a banking technology seminar just over a year ago where the main focus of the presentations was how to create a single universal payment message type and the issues around customer ID&V.
The subject inevitably turned to the UK Payments Council new Scheme - since Account Switching is going live end of this month and they needed something new to sink their teeth into - P2P Mobile Payments being made available to the whole of the UK. The big 5 were the 1st to sign up, with some of the key new players in Retail Banking hot on their tail, as well as some of the main online payments engines." Continue Reading
The subject inevitably turned to the UK Payments Council new Scheme - since Account Switching is going live end of this month and they needed something new to sink their teeth into - P2P Mobile Payments being made available to the whole of the UK. The big 5 were the 1st to sign up, with some of the key new players in Retail Banking hot on their tail, as well as some of the main online payments engines." Continue Reading
Thursday, October 17, 2013
Seen At 11: Direct Mobile Payments Catching On
"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
'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
Sunday, October 13, 2013
Indian central bank sets up mobile banking committee
"The Reserve Bank of India has set up a Technical Committee on Mobile Banking to examine the feasibility of introducing encrypted SMS-based funds transfers across all mobile handsets. The Committee will conduct an in-depth study of the challenges faced by banks in taking mobile banking forward and the hurdles to introducing an Unstructured Supplementary Service Data (USSD) channel for person-to-person payments." Continue Reading
Tuesday, September 3, 2013
Mobile Banking Updates - Sept 3
How City Bank Gets New Mobile Banking Ideas to Market First
"Jim Simpson, CTO of City Bank Texas, explains how and why his community bank has been the first U.S. bank to go live with several new mobile banking tools."
Mobile banking catching on, especially with women
"We all, in varying degrees, are more and more living our lives on the go. So, things such as personal contact with your favorite bank manager or flirting with the cute teller at your financial establishment’s drive-thru window are becoming a thing of the past. According to a recent Pew Research Center study, a majority of adults in the United States bank electronically. And they aren’t just using the walk-up automated teller machines so popular in days past."
The age of mobile banking
"Faced with increasing challenges such as RBI regulations, demanding customers and recession over the past few years, the banking industry has been under considerable pressure to improve customer experience and reduce operating cost. They have responded to the market challenge by moving to a client-centric model by introducing innovative technologies to cater to the customer ranging from ATMs, SMS Banking, USSD banking etc."
Grandma Wants Online Billpay
"It’s a fallacy to assume seniors don’t want to use digital channels for banking. They just prefer to use personal computers over mobile devices. Low fees and convenient branch locations are the primary drivers for which accounts they select. Grandma might use her mobile phone to send and receive text messages from her grandkids, but she’s much less likely to want to use it to check bank balances or do other banking activities. She prefers completing those tasks at home in front of her desktop computer."
Using Mobile Tech to Solve Old-School Problem: Ordering Checks
"City Bank Texas has added a feature to its mobile banking app that further distinguishes the Lubbock community bank from its competitors: the ability to order checks. The app already includes a number of atypical capabilities that let people turn their debit cards on and off, increase their daily ATM withdrawal limit, unblock foreign transactions and pay bills using the smartphone's camera."
3 On Your Side: New Wave of Mobile Banking
"It’s the next wave of mobile banking. Not just paying your bills — but paying your friends right from your phone. 3 On Your Side consumer reporter Jim Donovan explains how banking on-the-go is getting faster and easier. It’s clear money has gone mobile. People trade, pay bills and deposit checks from their phones. But how about splitting the check for dinner, paying the baby-sitter or the neighborhood kid to mow your lawn, simply by using your phone? No cash, no checks required."
"Jim Simpson, CTO of City Bank Texas, explains how and why his community bank has been the first U.S. bank to go live with several new mobile banking tools."
Mobile banking catching on, especially with women
"We all, in varying degrees, are more and more living our lives on the go. So, things such as personal contact with your favorite bank manager or flirting with the cute teller at your financial establishment’s drive-thru window are becoming a thing of the past. According to a recent Pew Research Center study, a majority of adults in the United States bank electronically. And they aren’t just using the walk-up automated teller machines so popular in days past."
The age of mobile banking
"Faced with increasing challenges such as RBI regulations, demanding customers and recession over the past few years, the banking industry has been under considerable pressure to improve customer experience and reduce operating cost. They have responded to the market challenge by moving to a client-centric model by introducing innovative technologies to cater to the customer ranging from ATMs, SMS Banking, USSD banking etc."
Grandma Wants Online Billpay
"It’s a fallacy to assume seniors don’t want to use digital channels for banking. They just prefer to use personal computers over mobile devices. Low fees and convenient branch locations are the primary drivers for which accounts they select. Grandma might use her mobile phone to send and receive text messages from her grandkids, but she’s much less likely to want to use it to check bank balances or do other banking activities. She prefers completing those tasks at home in front of her desktop computer."
Using Mobile Tech to Solve Old-School Problem: Ordering Checks
"City Bank Texas has added a feature to its mobile banking app that further distinguishes the Lubbock community bank from its competitors: the ability to order checks. The app already includes a number of atypical capabilities that let people turn their debit cards on and off, increase their daily ATM withdrawal limit, unblock foreign transactions and pay bills using the smartphone's camera."
3 On Your Side: New Wave of Mobile Banking
"It’s the next wave of mobile banking. Not just paying your bills — but paying your friends right from your phone. 3 On Your Side consumer reporter Jim Donovan explains how banking on-the-go is getting faster and easier. It’s clear money has gone mobile. People trade, pay bills and deposit checks from their phones. But how about splitting the check for dinner, paying the baby-sitter or the neighborhood kid to mow your lawn, simply by using your phone? No cash, no checks required."
Wednesday, August 28, 2013
Mobile Banking Updates - Aug 28
Payment innovations: Are you in?
"Like most banks, Home Federal Savings Bank, a $1 billion-assets institution in Sioux Falls, S.D., is wary of nonbank competitors in payments. Says Natalie Sundvold, senior vice-president, service and support, “From my seat in a financial services company, the thought of an outsider coming into payments is frightening. It doesn’t feel good, especially because consumers may not understand how payment security works.” When evaluating payments players and planning their own strategy, banks would be wise to keep the words of the Chinese general and military strategist Sun-tzu in mind: 'Keep your friends close, and your enemies closer.'”
Does Your Financial Institution’s Digital Strategy Pass the ROI Test?
"Large investments in emerging services like mobile and online do not always translate into higher customer satisfaction or even high financial performance. Javelin Strategy & Research, a leading financial services analyst firm, is releasing the company’s new competitive benchmark service, Outperform, which is a result of analyzing over 20 leading financial institutions and provides insights to improve each banks’ return on investment on emerging bank services—mobile and online banking services."
The globalisation of immediate payments – rolling out faster transactions
"The proliferation of smartphones, for example, has created a society that is locked into the internet whenever and wherever, with constant and immediate access to a huge array of services and 24/7 communication. The subsequent demand for immediacy and convenience has fundamentally changed the expectations customers have of service providers – and this extends to banking and payments. The growth of online and mobile banking has seen reliance on traditional bank branches fall dramatically, with customers instead choosing to conduct their financial affairs on the move and at their own convenience."
Study: Hard Numbers Reveal Growing Mobile Usage
"The latest data dump from Malauzai Software – which now provides mobile banking apps to 108 credit unions and banks – reveals continued, strong growth in mobile banking usage. The just-released July numbers show that among financial institutions that have offered mobile banking for at least one year, 'the average month-over-month (member usage) growth rate is 4.19%. The best-in-class number is 11.56% with several banks and (credit unions) topping 10%,' according to Malauzai in Austin, Texas."
Sonoma Bank Launches Mobile Banking Solutions
"Sterling Financial Corporation (NASDAQ:STSA), whose principal operating subsidiary does business in California as Sonoma Bank and Borrego Springs Bank, today announced that Sonoma Bank is launching a robust mobile banking suite for consumer customers. Now, Sonoma Bank customers can manage accounts with a mobile phone or a tablet using the Sonoma Bank Mobile App, which is available for iPhone, iPad and AndroidTM devices. Customers can also access accounts with Mobile Web or enroll in Text Banking and text the bank to receive account balance and recent transactions."
Mobile Banking Getting Easier And Faster
"No question banking on-the-go is easier than ever thanks to our smartphones. And now many banks are offering more services than just paying bills and depositing a check with your phone. Want to split the check for dinner with your friends, pay the babysitter on-the-spot, or the neighborhood kid to mow your lawn? Now you can use your phone for that too. No cash, no checks required."
Microfinance Institutions Benefit Most from Mobile Banking in Mature Markets
"New research from the Consultative Group to Assist the Poor (CGAP) finds that microfinance institutions (MFIs) and their customers can derive clear benefits from integrating with mobile banking services. However, MFIs are not yet playing a driving role in the adoption of mobile banking. Instead, MFIs successful in using mobile banking are located in mature markets where mobile and agent infrastructures are already established and where customers are experienced with viable mobile payments solutions. The benefits of mobile banking services to MFIs largely depend on the success of the existing mobile banking service itself: in markets where mobile banking is strong, MFIs and their customers can more easily benefit."
Ameriana Bank unveils Allied Payment’s mobile bill pay platform "Ameriana Bank has implemented Allied’s Picture Pay mobile bill pay, which allows its customers to pay any bill easily and securely by capturing a photo of the bill with their mobile devices. The lender, which combined the Picture Pay into its existing mobile banking application, said that the deployment of the new technology will reduce the complexities during the bill pay process."
'Lines Are for Losers': The Mobile Banking Mantra
"Just maybe Albuquerque media expert Casey Echternacht has the slogan for today's mobile banking generation: "Lines are for losers," he said when asked why he is a self-professed fanboy for mobile banking. He's a new convert - 'I just signed up a few weeks ago,' he said, after discovering his credit union offered a mobile banking app. 'They won't be seeing me in branches much anymore.'"
Banks target larger companies for mobile services
"Many U.S. banks have been quicker to offer mobile banking services to their consumer and small-business clients than to larger middle-market and corporate customers. But with customer demand rising significantly, the race is now on among the top 50 U.S. banks to roll out corporate mobile banking, according to a recent Aite Group report. For the company's "Corporate Mobile: Gaining Momentum" study, Christine Barry, Aite Group's wholesale banking research director, surveyed 32 U.S. banks with more than $14 billion in assets, representing approximately the top 50 U.S. banks ranked by total assets. The survey, conducted in June, excluded small-business mobile banking and focused solely on middle-market and corporate mobile banking."
The promise of NFC: Mobile payments and mobile advertising will make life better for all of us "Mobile payments have remained a small but fast-growing part of the explosion of smartphone usage in America. According to a study by Creditdonkey.com, 87 percent of Americans have a mobile phone but only 21 percent of mobile phone users have taken advantage of mobile banking in the past year. Mobile payment products like Visa's payWave or Paypal's apps for iOS and Android may be the way all of us buy goods in the future, but a number of consumers are resisting the technology. According to CreditDonkey's survey, 68 percent of respondents said that they would not like to replace cash with a mobile payment product. It is going to take time for the mobile phone to replace the wallet."
"Like most banks, Home Federal Savings Bank, a $1 billion-assets institution in Sioux Falls, S.D., is wary of nonbank competitors in payments. Says Natalie Sundvold, senior vice-president, service and support, “From my seat in a financial services company, the thought of an outsider coming into payments is frightening. It doesn’t feel good, especially because consumers may not understand how payment security works.” When evaluating payments players and planning their own strategy, banks would be wise to keep the words of the Chinese general and military strategist Sun-tzu in mind: 'Keep your friends close, and your enemies closer.'”
Does Your Financial Institution’s Digital Strategy Pass the ROI Test?
"Large investments in emerging services like mobile and online do not always translate into higher customer satisfaction or even high financial performance. Javelin Strategy & Research, a leading financial services analyst firm, is releasing the company’s new competitive benchmark service, Outperform, which is a result of analyzing over 20 leading financial institutions and provides insights to improve each banks’ return on investment on emerging bank services—mobile and online banking services."
The globalisation of immediate payments – rolling out faster transactions
"The proliferation of smartphones, for example, has created a society that is locked into the internet whenever and wherever, with constant and immediate access to a huge array of services and 24/7 communication. The subsequent demand for immediacy and convenience has fundamentally changed the expectations customers have of service providers – and this extends to banking and payments. The growth of online and mobile banking has seen reliance on traditional bank branches fall dramatically, with customers instead choosing to conduct their financial affairs on the move and at their own convenience."
Study: Hard Numbers Reveal Growing Mobile Usage
"The latest data dump from Malauzai Software – which now provides mobile banking apps to 108 credit unions and banks – reveals continued, strong growth in mobile banking usage. The just-released July numbers show that among financial institutions that have offered mobile banking for at least one year, 'the average month-over-month (member usage) growth rate is 4.19%. The best-in-class number is 11.56% with several banks and (credit unions) topping 10%,' according to Malauzai in Austin, Texas."
Sonoma Bank Launches Mobile Banking Solutions
"Sterling Financial Corporation (NASDAQ:STSA), whose principal operating subsidiary does business in California as Sonoma Bank and Borrego Springs Bank, today announced that Sonoma Bank is launching a robust mobile banking suite for consumer customers. Now, Sonoma Bank customers can manage accounts with a mobile phone or a tablet using the Sonoma Bank Mobile App, which is available for iPhone, iPad and AndroidTM devices. Customers can also access accounts with Mobile Web or enroll in Text Banking and text the bank to receive account balance and recent transactions."
Mobile Banking Getting Easier And Faster
"No question banking on-the-go is easier than ever thanks to our smartphones. And now many banks are offering more services than just paying bills and depositing a check with your phone. Want to split the check for dinner with your friends, pay the babysitter on-the-spot, or the neighborhood kid to mow your lawn? Now you can use your phone for that too. No cash, no checks required."
Microfinance Institutions Benefit Most from Mobile Banking in Mature Markets
"New research from the Consultative Group to Assist the Poor (CGAP) finds that microfinance institutions (MFIs) and their customers can derive clear benefits from integrating with mobile banking services. However, MFIs are not yet playing a driving role in the adoption of mobile banking. Instead, MFIs successful in using mobile banking are located in mature markets where mobile and agent infrastructures are already established and where customers are experienced with viable mobile payments solutions. The benefits of mobile banking services to MFIs largely depend on the success of the existing mobile banking service itself: in markets where mobile banking is strong, MFIs and their customers can more easily benefit."
Ameriana Bank unveils Allied Payment’s mobile bill pay platform "Ameriana Bank has implemented Allied’s Picture Pay mobile bill pay, which allows its customers to pay any bill easily and securely by capturing a photo of the bill with their mobile devices. The lender, which combined the Picture Pay into its existing mobile banking application, said that the deployment of the new technology will reduce the complexities during the bill pay process."
'Lines Are for Losers': The Mobile Banking Mantra
"Just maybe Albuquerque media expert Casey Echternacht has the slogan for today's mobile banking generation: "Lines are for losers," he said when asked why he is a self-professed fanboy for mobile banking. He's a new convert - 'I just signed up a few weeks ago,' he said, after discovering his credit union offered a mobile banking app. 'They won't be seeing me in branches much anymore.'"
Banks target larger companies for mobile services
"Many U.S. banks have been quicker to offer mobile banking services to their consumer and small-business clients than to larger middle-market and corporate customers. But with customer demand rising significantly, the race is now on among the top 50 U.S. banks to roll out corporate mobile banking, according to a recent Aite Group report. For the company's "Corporate Mobile: Gaining Momentum" study, Christine Barry, Aite Group's wholesale banking research director, surveyed 32 U.S. banks with more than $14 billion in assets, representing approximately the top 50 U.S. banks ranked by total assets. The survey, conducted in June, excluded small-business mobile banking and focused solely on middle-market and corporate mobile banking."
The promise of NFC: Mobile payments and mobile advertising will make life better for all of us "Mobile payments have remained a small but fast-growing part of the explosion of smartphone usage in America. According to a study by Creditdonkey.com, 87 percent of Americans have a mobile phone but only 21 percent of mobile phone users have taken advantage of mobile banking in the past year. Mobile payment products like Visa's payWave or Paypal's apps for iOS and Android may be the way all of us buy goods in the future, but a number of consumers are resisting the technology. According to CreditDonkey's survey, 68 percent of respondents said that they would not like to replace cash with a mobile payment product. It is going to take time for the mobile phone to replace the wallet."
Friday, June 28, 2013
Mobile Banking Updates - June 28
Bank of Botetourt Selects Fiserv for Account Processing, Citing Enhanced Integration and Expanded Product Offerings
"Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Bank of Botetourt has chosen the Precision® bank account processing platform, along with a host of customer-facing solutions, including online banking, bill pay, mobile banking, social payments and remote deposit capture. Headquartered in Buchanan, Va., the $320-million bank expects to increase efficiencies through integration offered by Fiserv solutions and by moving from in-house processing to an outsourced delivery mode."
United Texas Bank Selects Q2ebanking Platform to Accelerate Unified Virtual Banking for Anytime Anywhere Access
"Q2ebanking (Q2), the leading provider of enterprise solutions for secure virtual banking, today announced that Dallas-based United Texas Bank has selected its platform to provide a unified ebanking experience for its growing base of retail and business customers. With the implementation of Q2platform, United Texas Bank will empower customers to engage with its world-class virtual branch anytime, anywhere, on any device."
Research and Markets: Mobile Payments 2013-2017
"Analysis and forecasts for the worldwide market for mobile payment services, including mobile wallet services and NFC technology. Now published in it's 3rd all-new edition, Mobile Payments offers you detailed analysis of international mobile commerce markets, including the growth of mobile wallet services, the highs and lows of NFC technology and the growth of mobile banking and remittance services. This detailed all-new report includes all the market sizing data and 5 year forecasts you need, plus case studies, country-market assessments, vendor profiles and more."
CSI puts a new 'SPIN' on P2P payments
"Computer Services Inc., a provider of end-to-end technology solutions for FIs, has introduced its Social Payments Instant Network, which enables banks to provide customers with greater P2P payment functionality through CSI mobile and Internet banking applications. Traditional P2P providers let consumers send payments to others via Internet or mobile banking, but the process requires a series of steps and multi-day waiting periods for processing before the funds are available to the receiver."
ACI Worldwide Survey: EMV Will Accelerate Adoption of Mobile Technologies, Industry Monitoring Mobile Wallet Adoption
"ACI Worldwide (NASDAQ: ACIW), a leading international provider of payment systems, today released the results of a new survey of banks, retailers and payment processors that sheds new light on industry trends related to EMV, mobile payments and banking, fraud and innovation. This survey was conducted at the 2013 ACI Americas Exchange conference in Boston, MA from June 4-6, 2013. Visit www.aciworldwide.com/ExchangeSurvey for more information."
Bank Millennium SA : Mobile Banking for Companies wins 2013 Market Pearl
"Bank Millennium Mobile Banking for Companies won the first place in the "Best Banking Offer" category of this year's "Market Pearls - Retailers' Choice" competition. It owes its victory to the votes cast by independent market experts i.e. the customers. The awards were presented at a Gala ceremony on 13 June 2013 in the Warsaw Sheraton hotel. In the "2013 Market Pearls" competition products submitted by manufacturers and distributors were voted on by shop-owners and staff, who selected the ones, which worked best and helped generate yield."
Andera’s oFlows Platform Named Intuit Financial Services’ New Account Opening Solution
"Andera, Inc. announced an expansion of its strategic partnership with Intuit Financial Services whereby Andera’s oFlows platform will be the new account opening technology for Intuit’s financial institution clients. Andera’s oFlows platform is a full account origination suite, with support for both deposits and loans, across the computer, tablet, mobile phone, branch and call center channels. With oFlows, financial institutions can increase their operational efficiency as they reduce the number of tools and products internally used to support the opening of accounts. For example, oFlows can save both the consumer and the financial institution time with the ability for applicants to leverage their mobile device to securely and rapidly attach identity-verifying documents directly to their application for a new account."
"Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Bank of Botetourt has chosen the Precision® bank account processing platform, along with a host of customer-facing solutions, including online banking, bill pay, mobile banking, social payments and remote deposit capture. Headquartered in Buchanan, Va., the $320-million bank expects to increase efficiencies through integration offered by Fiserv solutions and by moving from in-house processing to an outsourced delivery mode."
United Texas Bank Selects Q2ebanking Platform to Accelerate Unified Virtual Banking for Anytime Anywhere Access
"Q2ebanking (Q2), the leading provider of enterprise solutions for secure virtual banking, today announced that Dallas-based United Texas Bank has selected its platform to provide a unified ebanking experience for its growing base of retail and business customers. With the implementation of Q2platform, United Texas Bank will empower customers to engage with its world-class virtual branch anytime, anywhere, on any device."
Research and Markets: Mobile Payments 2013-2017
"Analysis and forecasts for the worldwide market for mobile payment services, including mobile wallet services and NFC technology. Now published in it's 3rd all-new edition, Mobile Payments offers you detailed analysis of international mobile commerce markets, including the growth of mobile wallet services, the highs and lows of NFC technology and the growth of mobile banking and remittance services. This detailed all-new report includes all the market sizing data and 5 year forecasts you need, plus case studies, country-market assessments, vendor profiles and more."
CSI puts a new 'SPIN' on P2P payments
"Computer Services Inc., a provider of end-to-end technology solutions for FIs, has introduced its Social Payments Instant Network, which enables banks to provide customers with greater P2P payment functionality through CSI mobile and Internet banking applications. Traditional P2P providers let consumers send payments to others via Internet or mobile banking, but the process requires a series of steps and multi-day waiting periods for processing before the funds are available to the receiver."
ACI Worldwide Survey: EMV Will Accelerate Adoption of Mobile Technologies, Industry Monitoring Mobile Wallet Adoption
"ACI Worldwide (NASDAQ: ACIW), a leading international provider of payment systems, today released the results of a new survey of banks, retailers and payment processors that sheds new light on industry trends related to EMV, mobile payments and banking, fraud and innovation. This survey was conducted at the 2013 ACI Americas Exchange conference in Boston, MA from June 4-6, 2013. Visit www.aciworldwide.com/ExchangeSurvey for more information."
Bank Millennium SA : Mobile Banking for Companies wins 2013 Market Pearl
"Bank Millennium Mobile Banking for Companies won the first place in the "Best Banking Offer" category of this year's "Market Pearls - Retailers' Choice" competition. It owes its victory to the votes cast by independent market experts i.e. the customers. The awards were presented at a Gala ceremony on 13 June 2013 in the Warsaw Sheraton hotel. In the "2013 Market Pearls" competition products submitted by manufacturers and distributors were voted on by shop-owners and staff, who selected the ones, which worked best and helped generate yield."
Andera’s oFlows Platform Named Intuit Financial Services’ New Account Opening Solution
"Andera, Inc. announced an expansion of its strategic partnership with Intuit Financial Services whereby Andera’s oFlows platform will be the new account opening technology for Intuit’s financial institution clients. Andera’s oFlows platform is a full account origination suite, with support for both deposits and loans, across the computer, tablet, mobile phone, branch and call center channels. With oFlows, financial institutions can increase their operational efficiency as they reduce the number of tools and products internally used to support the opening of accounts. For example, oFlows can save both the consumer and the financial institution time with the ability for applicants to leverage their mobile device to securely and rapidly attach identity-verifying documents directly to their application for a new account."
Thursday, June 27, 2013
Mobile Banking Updates - June 27
Is Mobile Banking Safe? "
Arxan CEO Mike Dager on the emerging threat to mobile devices and banking apps."
The Rise of Mobile Technology in Higher Ed
"Between the ever-expanding popularity of tablets and the continued rise of smartphone ownership, all evidence points to an unabated focus on the adoption of new mobile devices and innovative technologies. According to a study by the Online Publishers Association, smartphone owners have increased by 44 percent between 2011 and 2012 and that figure is expected to increase to 57 percent during 2013. As mobile device adoption has increased, so, too, have the number of new applications. From mobile banking to real-time entertainment, there's seemingly no end to what Americans have come to expect from their mobile lifestyles. And, higher education is a market where mobile technology is playing an especially prominent role."
M-commerce transactions to reach $3.2 trillion by 2017, says Juniper
"Mobile commerce transactions are forecast to exceed $3.2 trillion by 2017, up from $1.5 trillion this year, according to the latest research from Juniper Research. This projected increase will be fueled by mobile banking, which will account for the "lion's share" of transaction value over the next five years, the research firm estimated."
Survey: Rising Willingness to Pay for Enhanced Mobile Banking
"New research from Boston-based financial services consulting firm ath Power underlines the immense popularity with consumers of mobile remote deposit capture ('the most sought after mobile banking feature,' said ath Power executive Michael McEvoy) and it also claims that there is rising consumer readiness to pay fees for mobile banking. In last year’s ath Power survey, 81% of respondents said they would not pay for mobile banking. This year, said McEvoy, that number dropped to 68%. That means about one in three say they might pay for the service, stressed McEvoy."
Grappling with the mobile money conundrum
"There is little doubt that mobile banking, mobile commerce, mobile money — pretty much any financial service preceded by the word "mobile" — are generating an outsized amount of hype. But all that hype is not reason to discount the very real impact that mobilized financial services are going to have on banking. A new publication called "Mobile Banking: Financial Services Meet the Electronic Wallet," sums it up the state of the industry succinctly:"
Tuesday, March 26, 2013
Mobile Banking Security - Mar 26
Mobile Payments and Banking - The 'Real' Security Risk
"Let me start by saying what wonderful things mobile payments and mobile banking are. You can’t deny the convenience of being able to bank, pay for goods and services, and perform P2P payments while “on the go”. It is these little conveniences that help turn train and bus travel into something more useful than simply reading the newspaper. With the introduction of mobile wallets and new security innovations, many companies are making big promises that your mobile is becoming the most secure means of banking and payments."
ATMIA Publishes Best Practices for Preventing Mobile Banking Fraud
"ATMIA today announced the publication of a new best practice manual for preventing mobile banking fraud, with special reference to applications linked to ATM systems. Due to the increasing popularity of mobile phones, and in particular smartphones and tablet computers which are capable of full internet access, mobile banking and related mobile commerce has become an important channel for the financial services industry, including the ATM industry."
"Let me start by saying what wonderful things mobile payments and mobile banking are. You can’t deny the convenience of being able to bank, pay for goods and services, and perform P2P payments while “on the go”. It is these little conveniences that help turn train and bus travel into something more useful than simply reading the newspaper. With the introduction of mobile wallets and new security innovations, many companies are making big promises that your mobile is becoming the most secure means of banking and payments."
ATMIA Publishes Best Practices for Preventing Mobile Banking Fraud
"ATMIA today announced the publication of a new best practice manual for preventing mobile banking fraud, with special reference to applications linked to ATM systems. Due to the increasing popularity of mobile phones, and in particular smartphones and tablet computers which are capable of full internet access, mobile banking and related mobile commerce has become an important channel for the financial services industry, including the ATM industry."
Thursday, March 21, 2013
Mobile Banking Updates - Mar 21
Malauzai Software Launches Mobile Banking SmartApp for iPad
"Malauzai Software Inc., a provider of mobile banking SmartApps for community financial institutions, has launched its mobile banking app for iPad devices. The technology is currently in use by several institutions, including Huntsville, Ala.-based Worthington Federal Bank. Malauzai’s iPad SmartApp takes advantage of the larger tablet screen to introduce enhanced navigation capabilities to the mobile banking experience. Accounts are now displayed on scrolling tiles instead of lists, and users can have more than one workspace open at a time. For instance, users can view transaction history while making a transfer."
Mobile virus writers pay to Google Play
"An explosion in mallicious software -malware - targeting Android smartphone users is being fueled in part by a budding market for mobile virus creation kits, as well as a brisk market for hijacked or fraudulent developer accounts on Google's app store Google Play that can be used to disguise malware as legitimate apps for sale. I recently encountered an Android malware developer on a semi-private underground forum who was actively buying verified developer accounts at Google Play for $US100 apiece. Google charges just $US25 for Android developers who wish to sell their applications through the Google Play marketplace, but it also requires the accounts to be approved and tied to a specific domain. The buyer in this case was offering $US100 for sellers willing to part with an active, verified Google Play account tied to a dedicated server."
Will mobile banking fees turn away consumers? - Mobile Commerce Daily
"PNC bank is reportedly considering charging customers a fee when they use their mobile phones to deposit a check, a service that is now free. One of the attractions of mobile banking for consumers has been convenience but the fact that these services are typically free has also played a role. The question is whether by tacking a fee onto mobile deposits, this might slow the adoption of mobile banking."
Tablet users expected to make up 19 percent of mobile banking customers in 2017
One in four tablet users is predicted to pay bills via the device by 2017, according to a report by Juniper Research. Adoption of bill presentment and payment, or BPP, transactional banking by tablet users will be higher than by smartphone users, the report found. Tablet users are expected to make up 19 percent of mobile banking customers in 2017, or 200 million users, up from 9 percent of mobile banking customers in 2013."
Pros and Cons of Mobile Banking
"Many major commercial banks are now offering consumers the choice to make deposits, send money, and perform other routine tasks using a mobile app. Bank customers can now use a smartphone or tablet for basic transactions like check deposits and bill payments, making it easier to keep an eye on finances without a trip to the ATM."
Fiserv integrates P2P service into mobile banking platform
"Financial services technology provider Fiserv Inc. is looking to expand the use of its Popmoney peer-to-peer payments product. The company announced today that it will be integrating the P2P feature into its Mobiliti mobile banking platform. With the integration, P2P payments can be made directly from a user's mobile banking account. Additionally, users of P2P payments can manage payments and view transaction history from within their mobile banking application."
As Mobile Reshapes Payments Business, Fiserv Combines P2P Payments & Mobile Banking Offerings
"As consumers become more comfortable and engaged with the concepts of mobile wallets, mobile payments and other forms of digital payments transactions, the financial technology community is taking notice. For example, more than 16 billion person-to-person payments are made each year, according to McKinsey & Company. A 2012 Forrester Research report found that 51% of tablet banking users and 46% of mobile banking users would like to make person-to-person payments via their devices. Even though there is still considerable uncertainty about how things will play out in terms of standards, revenues and regulation no one wants to be left out of the race to dominate the mobile money space."
"Malauzai Software Inc., a provider of mobile banking SmartApps for community financial institutions, has launched its mobile banking app for iPad devices. The technology is currently in use by several institutions, including Huntsville, Ala.-based Worthington Federal Bank. Malauzai’s iPad SmartApp takes advantage of the larger tablet screen to introduce enhanced navigation capabilities to the mobile banking experience. Accounts are now displayed on scrolling tiles instead of lists, and users can have more than one workspace open at a time. For instance, users can view transaction history while making a transfer."
Mobile virus writers pay to Google Play
"An explosion in mallicious software -malware - targeting Android smartphone users is being fueled in part by a budding market for mobile virus creation kits, as well as a brisk market for hijacked or fraudulent developer accounts on Google's app store Google Play that can be used to disguise malware as legitimate apps for sale. I recently encountered an Android malware developer on a semi-private underground forum who was actively buying verified developer accounts at Google Play for $US100 apiece. Google charges just $US25 for Android developers who wish to sell their applications through the Google Play marketplace, but it also requires the accounts to be approved and tied to a specific domain. The buyer in this case was offering $US100 for sellers willing to part with an active, verified Google Play account tied to a dedicated server."
Will mobile banking fees turn away consumers? - Mobile Commerce Daily
"PNC bank is reportedly considering charging customers a fee when they use their mobile phones to deposit a check, a service that is now free. One of the attractions of mobile banking for consumers has been convenience but the fact that these services are typically free has also played a role. The question is whether by tacking a fee onto mobile deposits, this might slow the adoption of mobile banking."
Tablet users expected to make up 19 percent of mobile banking customers in 2017
One in four tablet users is predicted to pay bills via the device by 2017, according to a report by Juniper Research. Adoption of bill presentment and payment, or BPP, transactional banking by tablet users will be higher than by smartphone users, the report found. Tablet users are expected to make up 19 percent of mobile banking customers in 2017, or 200 million users, up from 9 percent of mobile banking customers in 2013."
Pros and Cons of Mobile Banking
"Many major commercial banks are now offering consumers the choice to make deposits, send money, and perform other routine tasks using a mobile app. Bank customers can now use a smartphone or tablet for basic transactions like check deposits and bill payments, making it easier to keep an eye on finances without a trip to the ATM."
Fiserv integrates P2P service into mobile banking platform
"Financial services technology provider Fiserv Inc. is looking to expand the use of its Popmoney peer-to-peer payments product. The company announced today that it will be integrating the P2P feature into its Mobiliti mobile banking platform. With the integration, P2P payments can be made directly from a user's mobile banking account. Additionally, users of P2P payments can manage payments and view transaction history from within their mobile banking application."
As Mobile Reshapes Payments Business, Fiserv Combines P2P Payments & Mobile Banking Offerings
"As consumers become more comfortable and engaged with the concepts of mobile wallets, mobile payments and other forms of digital payments transactions, the financial technology community is taking notice. For example, more than 16 billion person-to-person payments are made each year, according to McKinsey & Company. A 2012 Forrester Research report found that 51% of tablet banking users and 46% of mobile banking users would like to make person-to-person payments via their devices. Even though there is still considerable uncertainty about how things will play out in terms of standards, revenues and regulation no one wants to be left out of the race to dominate the mobile money space."
Monday, November 26, 2012
Mobile Banking Updates - Nov 26
2012 Mobile Banking Market Assessment
"In new research, 2012 Mobile Banking Market Assessment, Mercator Advisory Group explores how retail financial institutions can increase interaction with customers and members to include 24x7, anytime anywhere service, and also expand their reach beyond simple demand deposit account transactions."
IALING FOR DOLLARS: Mobile banking becomes the norm
"As consumers demand more convenient access to financial accounts on the go, banks have adjusted by offering mobile banking and even creating apps for ease of use on smart phones. Mobile banking is dramatically changing the way consumers bank, with features such as person-to-person payments to help friends split the check at dinner and remote deposit capture, so customers can deposit checks without going to a branch."
Ally Bank Launches Next Phase of Mobile Banking
"Ally Bank's suite of customer-centric products and features expands this month to include the second generation of Ally Mobile Banking apps—featuring customers' most-requested capabilities—including Ally eCheck DepositSM, Bill Pay, and fund transfers to and from external banking institutions."
Banking on mobile: security threats, realities and fictions
"For businesses within the financial services sector not all-consumed by RDR and auto-enrolment issues, attention may again be turning to the threats, risks and uncertainties associated with mobile banking and other trends and developments in financial services technology. While the Australian bank Westpac has suggested that "the take-up of mobile banking is much faster than any previous technological innovation in banking," and indicated, according to reports, that it "processes three times more transactions made digitally, compared to transactions made in person," security providers in other parts of the world are stressing the heightened level of intrusion into mobile environments that have occurred during the third quarter of 2012."
BBVA Compass Expands Its Mobile Banking Apps To Include Kindle Fire™ And Windows Phone™
"BBVA Compass today expanded its growing stable of mobile banking apps with the launch of native applications for the Windows Phone platform and Kindle Fire tablet. The bank remains committed to providing native applications for the most popular mobile platforms, allowing users to enjoy a mobile banking experience that is consistent with their chosen devices. BBVA Compass currently provides mobile banking apps for iPhone® and iPad® mobile digital devices, BlackBerry® devices and the Android™ mobile digital platform."
Dickinson Financial Corporation Launches Robust, Multi-Brand Mobile Banking with Mobiliti from Fiserv
"Fiserv, Inc. (NAS: FISV) , a leading global provider of financial services technology solutions, announced today that Dickinson Financial Corporation ("Dickinson"), a $2.1 billion bank holding company based in Kansas City, Mo., has launched mobile banking and bill payment capabilities using Mobiliti™ from Fiserv. Dickinson is utilizing multi-tenancy deployment, supporting six distinct retail banking brands with a single underlying mobile platform. This approach is enabling the company to deliver robust capabilities while realizing operational and product management efficiencies."
"In new research, 2012 Mobile Banking Market Assessment, Mercator Advisory Group explores how retail financial institutions can increase interaction with customers and members to include 24x7, anytime anywhere service, and also expand their reach beyond simple demand deposit account transactions."
IALING FOR DOLLARS: Mobile banking becomes the norm
"As consumers demand more convenient access to financial accounts on the go, banks have adjusted by offering mobile banking and even creating apps for ease of use on smart phones. Mobile banking is dramatically changing the way consumers bank, with features such as person-to-person payments to help friends split the check at dinner and remote deposit capture, so customers can deposit checks without going to a branch."
Ally Bank Launches Next Phase of Mobile Banking
"Ally Bank's suite of customer-centric products and features expands this month to include the second generation of Ally Mobile Banking apps—featuring customers' most-requested capabilities—including Ally eCheck DepositSM, Bill Pay, and fund transfers to and from external banking institutions."
Banking on mobile: security threats, realities and fictions
"For businesses within the financial services sector not all-consumed by RDR and auto-enrolment issues, attention may again be turning to the threats, risks and uncertainties associated with mobile banking and other trends and developments in financial services technology. While the Australian bank Westpac has suggested that "the take-up of mobile banking is much faster than any previous technological innovation in banking," and indicated, according to reports, that it "processes three times more transactions made digitally, compared to transactions made in person," security providers in other parts of the world are stressing the heightened level of intrusion into mobile environments that have occurred during the third quarter of 2012."
BBVA Compass Expands Its Mobile Banking Apps To Include Kindle Fire™ And Windows Phone™
"BBVA Compass today expanded its growing stable of mobile banking apps with the launch of native applications for the Windows Phone platform and Kindle Fire tablet. The bank remains committed to providing native applications for the most popular mobile platforms, allowing users to enjoy a mobile banking experience that is consistent with their chosen devices. BBVA Compass currently provides mobile banking apps for iPhone® and iPad® mobile digital devices, BlackBerry® devices and the Android™ mobile digital platform."
Dickinson Financial Corporation Launches Robust, Multi-Brand Mobile Banking with Mobiliti from Fiserv
"Fiserv, Inc. (NAS: FISV) , a leading global provider of financial services technology solutions, announced today that Dickinson Financial Corporation ("Dickinson"), a $2.1 billion bank holding company based in Kansas City, Mo., has launched mobile banking and bill payment capabilities using Mobiliti™ from Fiserv. Dickinson is utilizing multi-tenancy deployment, supporting six distinct retail banking brands with a single underlying mobile platform. This approach is enabling the company to deliver robust capabilities while realizing operational and product management efficiencies."
Thursday, October 18, 2012
Mobile Banking Updates - Oct 18
Blackhawk Network To Offer Gift Cards Through mFoundry’s New Mobile Banking Platform
"Banks and credit unions now have an opportunity to generate a new source of top-line revenue by offering gift cards to their mobile banking customers through a relationship announced today between Blackhawk Network and mFoundry. Blackhawk Network, a leading provider of prepaid and financial payments products for consumers and businesses, has contracted with mFoundry, enabling Blackhawk to offer digital and physical gift cards from hundreds of brand name merchants to smartphone users through Fin.X from mFoundry."
Mobile banking vs. mobile payments - which is bigger?
"The other day, out of sheer curiosity, I Googled the words 'mobile payments.' The search turned up 'About 34,100,000 results.' Wow, I thought. Then I searched the same term in the Google News section. 'About 69,700 results.' Hmmm. Interesting."
Fortune Bank unveils mobile, remote banking services
"Community lender, Fortune Bank has unveiled a suite of mobile banking services, including Business Payment Manager, XPRESS Deposit and Mobile Banking, to boost customer access and convenience. The services are available for free of cost to existing and new customers through smartphones including iPhone, Android, or BlackBerry, the bank said."
Diebold adds RDC, P2P to mobile banking platform
"Diebold is increasing its presence in the growing mobile banking channel with the addition of two new features — remote deposit capture and person-to-person payments — to its MobiTransact mobile banking platform. The RDC application can also be added as a standalone feature to an FI's existing mobile banking app."
River City Credit Union in San Antonio Launches Bilingual Mobile App
"River City Federal Credit Union has announced its launch of a bilingual mobile banking app, rcitymobile, that is available in both the Apple Apps Store and Google’s Play store. The San Antonio credit union – with 15,000 members and $157 million in assets – developed its app in association with Catalyst Corporate and Austin, Texas-based apps developer Malauzai. In a press statement, Kim Heinze, CEO of River City FCU, said: 'The Spanish-language capability also allows us to enhance our service to the local Hispanic market, which is an important part of our growth strategy.'”
Dwolla Partners With mFoundry, Bringing Real-Time P2P Mobile Payment Capabilities To 800+ U.S. Banks
"Online and mobile digital cash network Dwolla is partnering with mobile banking and payments service provider mFoundry, the companies are announcing today at the BAI conference in Washington, D.C. This is Dwolla’s first publicly announced partnership with a financial service provider, and the deal opens its service up to mFoundry’s 800+ banks and credit unions using its cloud banking platform known as Fin.X."
Monitise reveals new record for mobile banking adoption
"Monitise has revealed a new record for the adoption ob mobile banking by Desert Schools Federal Credit Union. Monitise - a leading technology and services company that delivers mobile banking, payments and commerce networks worldwide - said DSFCU reached 30% mobile banking adoption in 90 days."
"Banks and credit unions now have an opportunity to generate a new source of top-line revenue by offering gift cards to their mobile banking customers through a relationship announced today between Blackhawk Network and mFoundry. Blackhawk Network, a leading provider of prepaid and financial payments products for consumers and businesses, has contracted with mFoundry, enabling Blackhawk to offer digital and physical gift cards from hundreds of brand name merchants to smartphone users through Fin.X from mFoundry."
Mobile banking vs. mobile payments - which is bigger?
"The other day, out of sheer curiosity, I Googled the words 'mobile payments.' The search turned up 'About 34,100,000 results.' Wow, I thought. Then I searched the same term in the Google News section. 'About 69,700 results.' Hmmm. Interesting."
Fortune Bank unveils mobile, remote banking services
"Community lender, Fortune Bank has unveiled a suite of mobile banking services, including Business Payment Manager, XPRESS Deposit and Mobile Banking, to boost customer access and convenience. The services are available for free of cost to existing and new customers through smartphones including iPhone, Android, or BlackBerry, the bank said."
Diebold adds RDC, P2P to mobile banking platform
"Diebold is increasing its presence in the growing mobile banking channel with the addition of two new features — remote deposit capture and person-to-person payments — to its MobiTransact mobile banking platform. The RDC application can also be added as a standalone feature to an FI's existing mobile banking app."
River City Credit Union in San Antonio Launches Bilingual Mobile App
"River City Federal Credit Union has announced its launch of a bilingual mobile banking app, rcitymobile, that is available in both the Apple Apps Store and Google’s Play store. The San Antonio credit union – with 15,000 members and $157 million in assets – developed its app in association with Catalyst Corporate and Austin, Texas-based apps developer Malauzai. In a press statement, Kim Heinze, CEO of River City FCU, said: 'The Spanish-language capability also allows us to enhance our service to the local Hispanic market, which is an important part of our growth strategy.'”
Dwolla Partners With mFoundry, Bringing Real-Time P2P Mobile Payment Capabilities To 800+ U.S. Banks
"Online and mobile digital cash network Dwolla is partnering with mobile banking and payments service provider mFoundry, the companies are announcing today at the BAI conference in Washington, D.C. This is Dwolla’s first publicly announced partnership with a financial service provider, and the deal opens its service up to mFoundry’s 800+ banks and credit unions using its cloud banking platform known as Fin.X."
Monitise reveals new record for mobile banking adoption
"Monitise has revealed a new record for the adoption ob mobile banking by Desert Schools Federal Credit Union. Monitise - a leading technology and services company that delivers mobile banking, payments and commerce networks worldwide - said DSFCU reached 30% mobile banking adoption in 90 days."
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."
Tuesday, April 17, 2012
Mobile Banking Updates - Apr 17
Business mobile banking launched
"In March Bank Millennium launched phone banking for business accounts. It is available to all self-employed users of Biznes accounts with access to Millenet. An urgent transfer while on a train, termination of a deposit just before payment for a service, phone top-up while riding in a lift is run-of-the-mill in mobile banking, at the same time being services, which make life easier for small businesses. Operating business accounts by phone works the same as for private accounts - it only takes a change of context i.e. with a single click to toggle between private and business accounts. Mobile banking is available with use of a special Mobile Application for Android smartphones and iPhones as well as in a "light" browser version for cellphones."
E-wallets put money back in your pocket
"Your 16-year old daughter is going out for a night on the town, and you are worried that she might run out of money. In the past few days a new solution has emerged. If need be, you can use your mobile phone to transfer money within seconds to her account, and she can then take it out immediately in cash from an ATM.
Barclays launched this transmission service for its smartphone users a few weeks ago and on Thursday extended it to non-customers. People have been signing up at the rate of 10,000 a day."
M-PESA extends its reach
"New data from the fourth round of a survey of Kenyan households confirm what every visitor to this East African nation knows: the spread of mobile technology and its adoption by broad swathes of the population continues. Probably the most successful of all the innovative mobile solutions is M-PESA, Safaricom’s mobile banking product that allows users to send money across the country (and recently, beyond) in an instant, as well as providing a safe and secure savings instrument, and a convenient bill payment capacity."
Mobile Banking Vendor Selection: Not A Straightforward Journey
"As I started my Market Overview of Mobile Banking Solutions, one thing was apparent: the vendor landscape is in flux. To further demonstrate this point, over the last few weeks, Montise announcedacquisition of Clairmail and Clairmail announced Clairmail Plus, a solution targeting mid-tier regional banks, community banks and credit unions. With the constant movement, it’s not easy to navigate through the vendor landscape."
Mobile Payments Startup Beamit Raises $2.4M From Founder’s Co-op, Jeff Bezos, Eric Schmidt & Others
"Mobile payments platform Beamit, which focuses on international money transfers between the U.S. and developing markets, has just closed a $2.4 million seed round led by Founder’s Co-op, with participation from Bezos Expeditions (the personal investment company of Jeff Bezos), TomorrowVentures (the investment vehicle for Eric Schmidt) and a small group of angel investors. The funds will be used to further product development as the company moves towards public availability, currently slated for Q3 2012. The company says the first market being targeted is the Philippines."
"In March Bank Millennium launched phone banking for business accounts. It is available to all self-employed users of Biznes accounts with access to Millenet. An urgent transfer while on a train, termination of a deposit just before payment for a service, phone top-up while riding in a lift is run-of-the-mill in mobile banking, at the same time being services, which make life easier for small businesses. Operating business accounts by phone works the same as for private accounts - it only takes a change of context i.e. with a single click to toggle between private and business accounts. Mobile banking is available with use of a special Mobile Application for Android smartphones and iPhones as well as in a "light" browser version for cellphones."
E-wallets put money back in your pocket
"Your 16-year old daughter is going out for a night on the town, and you are worried that she might run out of money. In the past few days a new solution has emerged. If need be, you can use your mobile phone to transfer money within seconds to her account, and she can then take it out immediately in cash from an ATM.
Barclays launched this transmission service for its smartphone users a few weeks ago and on Thursday extended it to non-customers. People have been signing up at the rate of 10,000 a day."
M-PESA extends its reach
"New data from the fourth round of a survey of Kenyan households confirm what every visitor to this East African nation knows: the spread of mobile technology and its adoption by broad swathes of the population continues. Probably the most successful of all the innovative mobile solutions is M-PESA, Safaricom’s mobile banking product that allows users to send money across the country (and recently, beyond) in an instant, as well as providing a safe and secure savings instrument, and a convenient bill payment capacity."
Mobile Banking Vendor Selection: Not A Straightforward Journey
"As I started my Market Overview of Mobile Banking Solutions, one thing was apparent: the vendor landscape is in flux. To further demonstrate this point, over the last few weeks, Montise announcedacquisition of Clairmail and Clairmail announced Clairmail Plus, a solution targeting mid-tier regional banks, community banks and credit unions. With the constant movement, it’s not easy to navigate through the vendor landscape."
Mobile Payments Startup Beamit Raises $2.4M From Founder’s Co-op, Jeff Bezos, Eric Schmidt & Others
"Mobile payments platform Beamit, which focuses on international money transfers between the U.S. and developing markets, has just closed a $2.4 million seed round led by Founder’s Co-op, with participation from Bezos Expeditions (the personal investment company of Jeff Bezos), TomorrowVentures (the investment vehicle for Eric Schmidt) and a small group of angel investors. The funds will be used to further product development as the company moves towards public availability, currently slated for Q3 2012. The company says the first market being targeted is the Philippines."
Sunday, March 25, 2012
Mobile Banking Updates - Mar 25
Financial Technology Leaders Convene for mFoundry User Workshop
"mFoundry, the fastest-growing provider of mobile banking and payments solutions, today announced its 2012 User Workshop is taking place near its corporate headquarters in Larkspur, California, and features an impressive lineup of industry leaders in financial services technology. The annual event focuses on accelerating innovation in mobile financial services around mFoundry's mobile banking and payments platform."
Confusion on Hot Topics Mobile, P2P and Social Pay
"The research by Boston-based AlixPartners exploded on the screen at BAI Payments Connect 2012. Suddenly, out of nowhere, the availability of good mobile services has emerged as a top factor in why consumers choose to change financial institutions, reported Teresa Epperson, AlixPartners managing director."
Mobile Banking Apps Lack What Customers Actually Want
"There may be several reasons why you haven’t gotten in the habit of doing your banking over a mobile phone, and new research sheds light on many common concerns customers have about mobile banking. An analysis from MyPrivateBanking Research found that the majority of mobile banking apps from 50 of the world’s largest banks lack the services customers actually find worthwhile."
Young people like mobile banking
"One of every 5 U.S. consumers used a mobile phone to access a bank, credit card or other financial account during the 12-month period that ended Jan. 31, 2012, according to a recent survey of nearly 2,300 people by Knowledge Networks. Another 1 of every 5 consumers plan to do so in the future, the online consumer research firm reported."
Juniper Research says mobile banking is moving from Push to Pull
"A new ’Mobile Banking for Developed & Developing Markets’report from Juniper Research has found that mobile phone banking is gaining considerable traction. It’s mainly thanks to the exploitation of advanced functionalities such as banks bundling MBPP (Mobile Bill Presentment and Payment) services within their overall mobile banking platform."
"mFoundry, the fastest-growing provider of mobile banking and payments solutions, today announced its 2012 User Workshop is taking place near its corporate headquarters in Larkspur, California, and features an impressive lineup of industry leaders in financial services technology. The annual event focuses on accelerating innovation in mobile financial services around mFoundry's mobile banking and payments platform."
Confusion on Hot Topics Mobile, P2P and Social Pay
"The research by Boston-based AlixPartners exploded on the screen at BAI Payments Connect 2012. Suddenly, out of nowhere, the availability of good mobile services has emerged as a top factor in why consumers choose to change financial institutions, reported Teresa Epperson, AlixPartners managing director."
Mobile Banking Apps Lack What Customers Actually Want
"There may be several reasons why you haven’t gotten in the habit of doing your banking over a mobile phone, and new research sheds light on many common concerns customers have about mobile banking. An analysis from MyPrivateBanking Research found that the majority of mobile banking apps from 50 of the world’s largest banks lack the services customers actually find worthwhile."
Young people like mobile banking
"One of every 5 U.S. consumers used a mobile phone to access a bank, credit card or other financial account during the 12-month period that ended Jan. 31, 2012, according to a recent survey of nearly 2,300 people by Knowledge Networks. Another 1 of every 5 consumers plan to do so in the future, the online consumer research firm reported."
Juniper Research says mobile banking is moving from Push to Pull
"A new ’Mobile Banking for Developed & Developing Markets’report from Juniper Research has found that mobile phone banking is gaining considerable traction. It’s mainly thanks to the exploitation of advanced functionalities such as banks bundling MBPP (Mobile Bill Presentment and Payment) services within their overall mobile banking platform."
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