"Troubled bank RBS suffered a computer glitch earlier this week, leaving customers unable to use their debit cards or log on to internet or mobile banking. The problems happened on what was expected to be the busiest online shopping day in the run-up to Christmas, dubbed Cyber Monday." Continue Reading
Showing posts with label RBS. Show all posts
Showing posts with label RBS. Show all posts
Sunday, December 8, 2013
Sunday, November 24, 2013
New RBS boss hints at move away from branch banking
"Transactions at RBS branches are down almost 30% since 2010 and the bank needs to offer "smarter solutions" for its customers, Ross McEwan said.
In one of his first speeches in the role, Mr McEwan said RBS has to confront "seismic shifts" in banking.
The use of mobile apps and "self-service centres" can increasingly meet the needs of customers, he said in an address to delegates at a business conference at the Scottish Parliament." Continue Reading
Wednesday, May 8, 2013
International Mobile Banking Updates - May 8
Online and mobile banking: your rights when something goes wrong
"Nationwide customers were left without access to some banking services twice last week due to IT failures. Online and mobile banking was unavailable for several hours and angry customers took to social media sites to vent their frustrations. But Nationwide isn't the only provider to have been plagued by technical faults. Last year thousands of RBS customers were completely cut off from their bank accounts for several days."
Two million Kiwis now using online banking
"More than two million New Zealanders now use internet banking, an increase of nearly 18% over the past four years. Approximately 2.05 million Kiwis use online banking, up from 1.74 million in 2009, according to data released by Statistics New Zealand. While younger generations are the most likely to transact online, internet banking is popular among all age groups."
Africa: Nigeria Stumbles After Kenya
"More people in Africa use their mobile phone to bank than in any other region in the world. The continent's banking revolution began in March 2007 when Kenyan telecoms operator Safaricom launched M-Pesa, a service that allows users to send, receive and save money using a cellphone. Since then M-Pesa has spread to Rwanda, South Africa, Tanzania and Uganda. Mobile banking now exists in 33 African countries, according to GSMA, a trade association."
Fear and loathing of m-banking
"There was nothing unusual about that morning, until on my way to work that group walking on the road caught my eye. I had seen them many times before but probably not noticed them this way. Whether on foot or cramped together in a vehicle, they prefer travelling in groups every morning to their respective workplaces. They carry their lunches in cloth potlis or plastic thailis and come from villages and hometowns far away to earn livelihood. And they can, perhaps, be clustered into one defined group - they are a part of India’s significant migrant population, of which many are also unbanked."
Subscribers warm up to new cellphone banking application
"Six months ago, Jane Adhiambo Achieng walked into a local Kenyan bank with the hope of getting a loan for her small grocery business. After providing all the paperwork and after weeks of back and forth between her and bank officials, she was turned down. 'They just told me I don't qualify. My income was too little,' said 42-year-old Achieng, who was asking for some $250, about half her monthly turnover, to expand her fruit and vegetable stall in the Kenyan capital. But in early March, she applied for the same amount through a different source and got the money in a matter of minutes."
Citibank Bahrain steps up online security...
"The bank said 'dynamic multi-factor authentication' on online and mobile banking platforms comes in the form of one-time pins (OTP). Being offered through the bank's Internet banking (Citibank online-CBOL) and mobile banking (Citi Mobile) facility - the new one-time pin service sends a unique number to customers in the form of a mobile text message every time they log on to CBOL and Citi Mobile. Clients can perform multiple transactions within each Internet session."
Mobile Banking For The Unbanked
"In sub-Sahara Africa, more than 80% of people have no access to traditional financial services. This has been one of the great challenges in fighting poverty in South Africa. Given the lack of developed infrastructure in many parts of Africa, how is it possible to provide millions of unbanked people with basic banking services? Standard Bank of South Africa has found the answer! Standard Bank discovered that one of the biggest impediments to opening a new account for many of these people was their lack of ability to provide proof of residence. However, at the same time, Standard Bank also found that a large percentage of unbanked people had access to mobile phones!"
"Nationwide customers were left without access to some banking services twice last week due to IT failures. Online and mobile banking was unavailable for several hours and angry customers took to social media sites to vent their frustrations. But Nationwide isn't the only provider to have been plagued by technical faults. Last year thousands of RBS customers were completely cut off from their bank accounts for several days."
Two million Kiwis now using online banking
"More than two million New Zealanders now use internet banking, an increase of nearly 18% over the past four years. Approximately 2.05 million Kiwis use online banking, up from 1.74 million in 2009, according to data released by Statistics New Zealand. While younger generations are the most likely to transact online, internet banking is popular among all age groups."
Africa: Nigeria Stumbles After Kenya
"More people in Africa use their mobile phone to bank than in any other region in the world. The continent's banking revolution began in March 2007 when Kenyan telecoms operator Safaricom launched M-Pesa, a service that allows users to send, receive and save money using a cellphone. Since then M-Pesa has spread to Rwanda, South Africa, Tanzania and Uganda. Mobile banking now exists in 33 African countries, according to GSMA, a trade association."
Fear and loathing of m-banking
"There was nothing unusual about that morning, until on my way to work that group walking on the road caught my eye. I had seen them many times before but probably not noticed them this way. Whether on foot or cramped together in a vehicle, they prefer travelling in groups every morning to their respective workplaces. They carry their lunches in cloth potlis or plastic thailis and come from villages and hometowns far away to earn livelihood. And they can, perhaps, be clustered into one defined group - they are a part of India’s significant migrant population, of which many are also unbanked."
Subscribers warm up to new cellphone banking application
"Six months ago, Jane Adhiambo Achieng walked into a local Kenyan bank with the hope of getting a loan for her small grocery business. After providing all the paperwork and after weeks of back and forth between her and bank officials, she was turned down. 'They just told me I don't qualify. My income was too little,' said 42-year-old Achieng, who was asking for some $250, about half her monthly turnover, to expand her fruit and vegetable stall in the Kenyan capital. But in early March, she applied for the same amount through a different source and got the money in a matter of minutes."
Citibank Bahrain steps up online security...
"The bank said 'dynamic multi-factor authentication' on online and mobile banking platforms comes in the form of one-time pins (OTP). Being offered through the bank's Internet banking (Citibank online-CBOL) and mobile banking (Citi Mobile) facility - the new one-time pin service sends a unique number to customers in the form of a mobile text message every time they log on to CBOL and Citi Mobile. Clients can perform multiple transactions within each Internet session."
Mobile Banking For The Unbanked
"In sub-Sahara Africa, more than 80% of people have no access to traditional financial services. This has been one of the great challenges in fighting poverty in South Africa. Given the lack of developed infrastructure in many parts of Africa, how is it possible to provide millions of unbanked people with basic banking services? Standard Bank of South Africa has found the answer! Standard Bank discovered that one of the biggest impediments to opening a new account for many of these people was their lack of ability to provide proof of residence. However, at the same time, Standard Bank also found that a large percentage of unbanked people had access to mobile phones!"
Monday, April 22, 2013
Mobile Banking Updates - April 22
What Will the Next Generation of Corporate Mobile Banking Look Like?
"'Mobile banking is evolving quickly for companies. This evolution is being propelled by the phenomenal growth in personal smartphone usage. Our clients now want to take the convenience and mobility they have with their personal smartphone into the workplace,' says James Gifas, head of RBS Citizens Treasury Solutions. "Over one third of smartphone owners in the U.S. are using their devices for personal mobile banking, and consumers want their business banking to be just as convenient."
6 Mobile Banking Features on B of A's Drawing Board
"Bank of America isn't generally first to market with new mobile banking features, but when it does offer something new, it draws high adoption numbers and it strikes fear in the hearts of competing bankers, who know their customers will soon start asking why their bank doesn't offer it. Case in point: the bank launched mobile check deposit last August (USAA launched this feature in August 2009; Chase launched it in July 2010). Today, Bank of America has 1.9 million users of mobile deposit, it's processed 18 million check images captured this way, and on average it is handling 100,000 checks per day through mobile deposit."
Mobile banking spurs growth at Michigan First Credit Union
"Michigan First Credit Union is looking for a few good employees, 14 right now to be exact. The Lathrup Village-based financial institution is looking for everything from tellers to human resources professionals to add to its staff of 225 people. However, technology pros are in especially high demand for the credit union. About a third of its new positions have some sort of tech angle, such as software developer or IT professional."
Behold, the next gen of mobile banking
"Like nearly every other industry--entertainment, journalism, personal communications--banking is changing at an amazing rate. It's not a white shoe enterprise anymore, thanks to the nearly ubiquitous adoption of mobile phones and tablets. And banks have better get ready because these tech-savvy customers are already using their phones for checking balances and making payments, and they want to do even more. Those were the words of warning from a senior player in the mobile banking space in an address before mobile finance executives at Mobey Forum in San Francisco."
The Next Steps For Consumers And Mobile Banking
"Consumers are becoming increasingly aware of mobile financial apps and services, but there’s still more that banks and FIs can do to increase adoption. That’s one of the takeaways from a new survey by IAB, InMobi and Viggle, which poled more than 1,200 consumers on their various thoughts and feelings on mobile financial services. Over half of all respondents indicated that they use financial mobile apps, but how many remain unaware of their existence? PYMNTS.com takes a look in this Data Point."
The Nexus of Forces and Software Quality in Banking
"Financial sector software failures fill our news pages – from banks failing to make payments to cash machines giving away free money, these high profile crashes are just the tip of the iceberg. The challenge of ensuring quality of software and IT in the banking sector is nothing new. Banking IT is highly complex, with different systems for both retail and investment banks. A typical banking IT scenario may encompass several different systems from multiple vendors, developed independently and integrated over a period of twenty years. The business supported by the systems is so wide that no single team understands the entire IT infrastructure."
"'Mobile banking is evolving quickly for companies. This evolution is being propelled by the phenomenal growth in personal smartphone usage. Our clients now want to take the convenience and mobility they have with their personal smartphone into the workplace,' says James Gifas, head of RBS Citizens Treasury Solutions. "Over one third of smartphone owners in the U.S. are using their devices for personal mobile banking, and consumers want their business banking to be just as convenient."
6 Mobile Banking Features on B of A's Drawing Board
"Bank of America isn't generally first to market with new mobile banking features, but when it does offer something new, it draws high adoption numbers and it strikes fear in the hearts of competing bankers, who know their customers will soon start asking why their bank doesn't offer it. Case in point: the bank launched mobile check deposit last August (USAA launched this feature in August 2009; Chase launched it in July 2010). Today, Bank of America has 1.9 million users of mobile deposit, it's processed 18 million check images captured this way, and on average it is handling 100,000 checks per day through mobile deposit."
Mobile banking spurs growth at Michigan First Credit Union
"Michigan First Credit Union is looking for a few good employees, 14 right now to be exact. The Lathrup Village-based financial institution is looking for everything from tellers to human resources professionals to add to its staff of 225 people. However, technology pros are in especially high demand for the credit union. About a third of its new positions have some sort of tech angle, such as software developer or IT professional."
Behold, the next gen of mobile banking
"Like nearly every other industry--entertainment, journalism, personal communications--banking is changing at an amazing rate. It's not a white shoe enterprise anymore, thanks to the nearly ubiquitous adoption of mobile phones and tablets. And banks have better get ready because these tech-savvy customers are already using their phones for checking balances and making payments, and they want to do even more. Those were the words of warning from a senior player in the mobile banking space in an address before mobile finance executives at Mobey Forum in San Francisco."
The Next Steps For Consumers And Mobile Banking
"Consumers are becoming increasingly aware of mobile financial apps and services, but there’s still more that banks and FIs can do to increase adoption. That’s one of the takeaways from a new survey by IAB, InMobi and Viggle, which poled more than 1,200 consumers on their various thoughts and feelings on mobile financial services. Over half of all respondents indicated that they use financial mobile apps, but how many remain unaware of their existence? PYMNTS.com takes a look in this Data Point."
The Nexus of Forces and Software Quality in Banking
"Financial sector software failures fill our news pages – from banks failing to make payments to cash machines giving away free money, these high profile crashes are just the tip of the iceberg. The challenge of ensuring quality of software and IT in the banking sector is nothing new. Banking IT is highly complex, with different systems for both retail and investment banks. A typical banking IT scenario may encompass several different systems from multiple vendors, developed independently and integrated over a period of twenty years. The business supported by the systems is so wide that no single team understands the entire IT infrastructure."
Sunday, April 7, 2013
Mobile Banking Updates - April 7
RBS Group Endures Mobile Banking Outage
"Bank divisions of The Royal Bank of Scotland Group suffered from a mobile banking app glitch for a few hours late last week. The outage affected mobile banking customers at RBS, NatWest and Ulster Bank. All three banking units took to Twitter to inform their customers about the technology issue."
Texas Trust Launches Mobile Deposit for Consumer Banking Applications
"Mobile banking has become more convenient at Texas Trust Credit Union with the introduction of mobile deposit. This new mobile banking service allows members to deposit checks in real time from anywhere, simply by taking a picture of the check with a smartphone or mobile device."
Mobile Commerce Market Shows Continued Growth, No Consensus on Mobile Payment Methods
"The report also provides a quick overview of mobile banking, which includes services such as balance inquiries, transfers, bill payments and applying for loans and credit. According to data from Forrester, by 2017 mobile banking’s user base will double to 108 million — 46 percent of all US bank account holders. Mobile automated clearinghouse rules were adopted in the US in January 2011, while a Vodafone-sponsored mobile banking service called M-Pesa helps govern mobile banking transactions in seven developing nations including India, Kenya and Tanzania."
Half of American smartphone owners use mobile banking
"Nearly half of American smartphone owners used their handsets to access financial accounts last year, according to research from the Federal Reserve Board. The FRB's poll of nearly 2600 people late last year shows that 48% of smartphone owners had used mobile banking in the previous 12 months, up from 42% in a December 2011 survey. Of all mobile phone owners, 28% had used their handsets to access a bank, credit card, or other financial accounts, up from 21%."
Regions Bank Rolls Out Innovative, New Mobile Apps That Let Customers Make Deposits, Load Pre-Paid Cards and Select Speed of Funds Availability
"Mobile Banking customers can now make deposits to their accounts using their mobile device. With the introduction of Regions Mobile Deposit, customers can now use their phone or iPad to take a photo of a check and place those funds in a consumer deposit account or load them to a Regions Now Card, a reloadable Visa® prepaid card. The Mobile Deposit service has three funds availability options – a standard option of two business days, an intermediate same day availability option, and an immediate availability option. Costs per Mobile Deposit transaction are as low as 50 cents."
Intuit Making Mint Available to Banks
"Intuit Financial Services announced today it is making popular PFM tool Mint available to financial institutions to integrate into their online and mobile banking services. Intuit, which acquired Mint in 2009, will offer the Mint integration on a limited basis in 2013, before rolling it out to its more than 1,200 financial institution clients in 2014."
"Bank divisions of The Royal Bank of Scotland Group suffered from a mobile banking app glitch for a few hours late last week. The outage affected mobile banking customers at RBS, NatWest and Ulster Bank. All three banking units took to Twitter to inform their customers about the technology issue."
Texas Trust Launches Mobile Deposit for Consumer Banking Applications
"Mobile banking has become more convenient at Texas Trust Credit Union with the introduction of mobile deposit. This new mobile banking service allows members to deposit checks in real time from anywhere, simply by taking a picture of the check with a smartphone or mobile device."
Mobile Commerce Market Shows Continued Growth, No Consensus on Mobile Payment Methods
"The report also provides a quick overview of mobile banking, which includes services such as balance inquiries, transfers, bill payments and applying for loans and credit. According to data from Forrester, by 2017 mobile banking’s user base will double to 108 million — 46 percent of all US bank account holders. Mobile automated clearinghouse rules were adopted in the US in January 2011, while a Vodafone-sponsored mobile banking service called M-Pesa helps govern mobile banking transactions in seven developing nations including India, Kenya and Tanzania."
Half of American smartphone owners use mobile banking
"Nearly half of American smartphone owners used their handsets to access financial accounts last year, according to research from the Federal Reserve Board. The FRB's poll of nearly 2600 people late last year shows that 48% of smartphone owners had used mobile banking in the previous 12 months, up from 42% in a December 2011 survey. Of all mobile phone owners, 28% had used their handsets to access a bank, credit card, or other financial accounts, up from 21%."
Regions Bank Rolls Out Innovative, New Mobile Apps That Let Customers Make Deposits, Load Pre-Paid Cards and Select Speed of Funds Availability
"Mobile Banking customers can now make deposits to their accounts using their mobile device. With the introduction of Regions Mobile Deposit, customers can now use their phone or iPad to take a photo of a check and place those funds in a consumer deposit account or load them to a Regions Now Card, a reloadable Visa® prepaid card. The Mobile Deposit service has three funds availability options – a standard option of two business days, an intermediate same day availability option, and an immediate availability option. Costs per Mobile Deposit transaction are as low as 50 cents."
Intuit Making Mint Available to Banks
"Intuit Financial Services announced today it is making popular PFM tool Mint available to financial institutions to integrate into their online and mobile banking services. Intuit, which acquired Mint in 2009, will offer the Mint integration on a limited basis in 2013, before rolling it out to its more than 1,200 financial institution clients in 2014."
Wednesday, March 20, 2013
International Mobile Banking Updates - Mar 20
Commercialbank names winners of online, mobile banking campaign
"Some eight lucky Commercialbank customers have been named as the winners of the bank’s recent online and mobile banking campaign. The eight week promotion, which was open to all new and existing customers registered for Commercialbank’s online banking and mobile services, highlighted the 'flexibility, security and range of banking services' that the bank’s customers have access to from their mobile phone or computers. Commercialbank’s mobile banking platform is compatible with iPad, Android and all smartphones, in addition to the iPhone, BlackBerry and mobile web."
RBS launch mobile banking app days after second card network crash
"From today, customers using the RBS/NatWest mobile phone app will be able to send a payment of up to £100 to anyone with a Visa card, by entering their mobile phone number. The announcement comes just days after the banking group apologised to customers for its second computer hitch in a year. A hardware fault left RBS Group customers blocked from using cashpoints for several hours last week, while online and telephone banking services were also disrupted. As well as currently having more than two million active users, the RBS/NatWest mobile banking app has 13 million logins per week."
Bank Alfalah, Warid launch mobile banking solution
"Monet – an independent mobile financial services company – partnered with Fundamo – Visa’s subsidiary and one of the world’s largest specialist mobile financial service providers – to launch a mobile money network in Pakistan, the press release said. Monet – which was set up by the Abu Dhabi Group last year – had secured approval from the State Bank of Pakistan to build its network, which is being offered to local firms planning to launch mobile money services."
The Benefits of Mobile Health, on Hold
"The world now has 5 billion mobile phones – one for every person over 15. Africa has a billion people and 750 million phones, and mobile is growing so fast there that in a few years there will be more phones than people. In some countries this is already true — South Africa has 47 million people, but 52 million SIM cards. The mobile phone is doing more than revolutionizing communication. It has the potential to improve many aspects of life in poor countries: commerce, health, agriculture, education."
Polish FI rolls out mobile banking, payment solution
"Polish financial institution PKO Bank Polski has launched its first mobile payment solution, called IKO. Based on the mobile payment platform of Swedish company Accumulate, the product supports mobile banking and payment services at the point of sale, real-time peer-to-peer payments and cardless withdrawals from ATMs."
Mobile banking a game changer, says SBP governor
"State Bank of Pakistan (SBP) Governor Yaseen Anwar has said that developments in branchless banking across the country have been so far marvelous, leaving nobody in doubt about the potential of mobile phone banking to be a game-changer in banking, m-commerce and financial inclusion. Speaking at the 6th International Conference on ‘Mobile Banking in Pakistan’ at a local hotel on Thursday, he said that developments in m-banking and m-commerce will lead us to connect the unbanked segment of our population to financial services, thus contributing to their empowerment."
Mobile phone-banking is failing to meet its potential
"India's 840 million mobile phone connections are emerging as knights in armour in the financial inclusion challenge—they hold the promise of providing banking access to the large swathe of India's unbanked population. Yet, today, less than 20 million people in India are using mobile banking services offered by some 50-odd banks, even though the National Payments Consortium of India (NPCI) has rolled out a gateway for inter-bank mobile payment services (IMPS)."
Shell-Backed Solar Company Bets on Phone Banking for Africa
"M-KOPA Kenya Ltd., backed by a Royal Dutch Shell Plc (RDSA)-funded charity, sees sales of its solar-lighting system that allows users to pay by phone surging 13-fold as mobile operators roll out banking services in Africa. The system, a panel powering lights and a phone charger, links to mobile banking services to allow customers to pay 40 Kenyan shillings (46 cents) a day to use it, M-KOPA says. The company plans to boost clients in Kenya to 100,000 from about 7,500 now, and expand abroad in future, Managing Director Jesse Moore said."
Kiwis double up on mobile banking
"The proportion of New Zealand's smartphoners who use their phone to conduct online banking transactions has almost doubled in the past year, according to Roy Morgan's latest Mobile Phone Monitor. While a majority of smartphone users (58%) still bank online using a computer, 16% now conduct banking on their mobiles—up from 8.3% in January last year."
Mobile banking service expanding in Bangladesh
"Mobile banking is gaining ground among the people in Bangladesh within a short span of time for facilitating its easy transaction services. Some 3.0 million people make now the use of different services under mobile banking. There are about 70,000 outlets of mobile banking service-providers, making the services available to the users. The extent of such services and the volume of transactions involve a sizeable amount of money, between Tk 300 million and Tk 350 million, per day, according to the data of the Bangladesh Bank (BB)."
Mobile banking technologies catch on in Russia
Portable terminals and personal finance management services are sweeping the global banking market. In Russia, the mobile- and online-banking segments are growing, introducing similar innovations to the market. Some banks are ready to invest in these innovations, while others wait for these new technologies to become actual drivers for the industry."
ANZ launches enhanced mobile banking app
"The ANZ Bank has launched more enhancements to its mobile banking application, goMoney, which the company says makes it the “first bank in Australia” to integrate personal and business accounts into a single mobile banking application for customers using an iPhone. Nick Reade, ANZ General Manager Small Business Banking, said small business customers wanted to do their banking “when and where it suits them,” and increasingly customers were using mobile devices."
Santander UK Launches Mobile Banking App for Android
"Santander has launched a brand new mobile banking app for customers who use Android smartphones and tablets, including the Kindle Fire, as well as updating the iPhone/iPad app the bank originally launched in January 2012. The new apps provide a secure service for banking on the go, including a helpful single platform where customers can see information for all their Santander current accounts, savings and credit cards. The apps are available from the Apple App Store and the Android store (Google Play) and free to all of Santander's personal banking customers."
Visa Europe signs new three-year deal with Monitise to expand its mobile banking services across Europe
"Visa Europe has signed a new three-year deal with Monitise to develop and expand its various Mobile Money solutions, which support mobile banking, payments and commerce networks, to more leading financial institutions across Europe. The extended partnership means that Monitise is guaranteed minimum revenues of €45 million over the next three years, with the chance to go beyond that provided 'certain user generated thresholds are achieved.'”
"Some eight lucky Commercialbank customers have been named as the winners of the bank’s recent online and mobile banking campaign. The eight week promotion, which was open to all new and existing customers registered for Commercialbank’s online banking and mobile services, highlighted the 'flexibility, security and range of banking services' that the bank’s customers have access to from their mobile phone or computers. Commercialbank’s mobile banking platform is compatible with iPad, Android and all smartphones, in addition to the iPhone, BlackBerry and mobile web."
RBS launch mobile banking app days after second card network crash
"From today, customers using the RBS/NatWest mobile phone app will be able to send a payment of up to £100 to anyone with a Visa card, by entering their mobile phone number. The announcement comes just days after the banking group apologised to customers for its second computer hitch in a year. A hardware fault left RBS Group customers blocked from using cashpoints for several hours last week, while online and telephone banking services were also disrupted. As well as currently having more than two million active users, the RBS/NatWest mobile banking app has 13 million logins per week."
Bank Alfalah, Warid launch mobile banking solution
"Monet – an independent mobile financial services company – partnered with Fundamo – Visa’s subsidiary and one of the world’s largest specialist mobile financial service providers – to launch a mobile money network in Pakistan, the press release said. Monet – which was set up by the Abu Dhabi Group last year – had secured approval from the State Bank of Pakistan to build its network, which is being offered to local firms planning to launch mobile money services."
The Benefits of Mobile Health, on Hold
"The world now has 5 billion mobile phones – one for every person over 15. Africa has a billion people and 750 million phones, and mobile is growing so fast there that in a few years there will be more phones than people. In some countries this is already true — South Africa has 47 million people, but 52 million SIM cards. The mobile phone is doing more than revolutionizing communication. It has the potential to improve many aspects of life in poor countries: commerce, health, agriculture, education."
Polish FI rolls out mobile banking, payment solution
"Polish financial institution PKO Bank Polski has launched its first mobile payment solution, called IKO. Based on the mobile payment platform of Swedish company Accumulate, the product supports mobile banking and payment services at the point of sale, real-time peer-to-peer payments and cardless withdrawals from ATMs."
Mobile banking a game changer, says SBP governor
"State Bank of Pakistan (SBP) Governor Yaseen Anwar has said that developments in branchless banking across the country have been so far marvelous, leaving nobody in doubt about the potential of mobile phone banking to be a game-changer in banking, m-commerce and financial inclusion. Speaking at the 6th International Conference on ‘Mobile Banking in Pakistan’ at a local hotel on Thursday, he said that developments in m-banking and m-commerce will lead us to connect the unbanked segment of our population to financial services, thus contributing to their empowerment."
Mobile phone-banking is failing to meet its potential
"India's 840 million mobile phone connections are emerging as knights in armour in the financial inclusion challenge—they hold the promise of providing banking access to the large swathe of India's unbanked population. Yet, today, less than 20 million people in India are using mobile banking services offered by some 50-odd banks, even though the National Payments Consortium of India (NPCI) has rolled out a gateway for inter-bank mobile payment services (IMPS)."
Shell-Backed Solar Company Bets on Phone Banking for Africa
"M-KOPA Kenya Ltd., backed by a Royal Dutch Shell Plc (RDSA)-funded charity, sees sales of its solar-lighting system that allows users to pay by phone surging 13-fold as mobile operators roll out banking services in Africa. The system, a panel powering lights and a phone charger, links to mobile banking services to allow customers to pay 40 Kenyan shillings (46 cents) a day to use it, M-KOPA says. The company plans to boost clients in Kenya to 100,000 from about 7,500 now, and expand abroad in future, Managing Director Jesse Moore said."
Kiwis double up on mobile banking
"The proportion of New Zealand's smartphoners who use their phone to conduct online banking transactions has almost doubled in the past year, according to Roy Morgan's latest Mobile Phone Monitor. While a majority of smartphone users (58%) still bank online using a computer, 16% now conduct banking on their mobiles—up from 8.3% in January last year."
Mobile banking service expanding in Bangladesh
"Mobile banking is gaining ground among the people in Bangladesh within a short span of time for facilitating its easy transaction services. Some 3.0 million people make now the use of different services under mobile banking. There are about 70,000 outlets of mobile banking service-providers, making the services available to the users. The extent of such services and the volume of transactions involve a sizeable amount of money, between Tk 300 million and Tk 350 million, per day, according to the data of the Bangladesh Bank (BB)."
Mobile banking technologies catch on in Russia
Portable terminals and personal finance management services are sweeping the global banking market. In Russia, the mobile- and online-banking segments are growing, introducing similar innovations to the market. Some banks are ready to invest in these innovations, while others wait for these new technologies to become actual drivers for the industry."
ANZ launches enhanced mobile banking app
"The ANZ Bank has launched more enhancements to its mobile banking application, goMoney, which the company says makes it the “first bank in Australia” to integrate personal and business accounts into a single mobile banking application for customers using an iPhone. Nick Reade, ANZ General Manager Small Business Banking, said small business customers wanted to do their banking “when and where it suits them,” and increasingly customers were using mobile devices."
Santander UK Launches Mobile Banking App for Android
"Santander has launched a brand new mobile banking app for customers who use Android smartphones and tablets, including the Kindle Fire, as well as updating the iPhone/iPad app the bank originally launched in January 2012. The new apps provide a secure service for banking on the go, including a helpful single platform where customers can see information for all their Santander current accounts, savings and credit cards. The apps are available from the Apple App Store and the Android store (Google Play) and free to all of Santander's personal banking customers."
Visa Europe signs new three-year deal with Monitise to expand its mobile banking services across Europe
"Visa Europe has signed a new three-year deal with Monitise to develop and expand its various Mobile Money solutions, which support mobile banking, payments and commerce networks, to more leading financial institutions across Europe. The extended partnership means that Monitise is guaranteed minimum revenues of €45 million over the next three years, with the chance to go beyond that provided 'certain user generated thresholds are achieved.'”
Tuesday, February 26, 2013
Mobile Banking Updates - Feb 26
If This Is Mobile Banking
"Many banks tend to view Mobile Banking as a truncated version of Internet Banking and most of them offer mobile banking only to their existing Internet Banking users. This approach completely negates the true potential of mobile - after all, if I check my account balance once a week, make one or two fund transfers per month and don't buy more than 10 banking products all my life, I don't need a mobile phone to carry out these infrequent banking activities "here and now". No wonder adoption rates of Mobile Banking are nothing to write home about and, according to the recently published World Retail Banking Report 2012, Branch and Internet Banking continue to remain the two most important channels for retail banking."
Mobile Banking Now Vital To Customer Acquisition
"Since the third quarter of 2010, interest in mobile banking as a “must have” feature among those consumers actively shopping for new checking accounts has grown by a whopping 63%. In January 2013, over 18% of all shoppers that used the comparison tool on FindABetterBank.com indicated mobile banking is a “must have” feature. A survey recently fielded on FindABetterBank uncovered that 88% of shoppers who said mobile banking is a “must have” feature are already mobile banking users. Therefore, as more consumers download their bank’s mobile apps and begin using them, you can expect the number of consumers demanding mobile banking when they’re shopping for a new institution to increase steadily. Few people, however, defect from an institution simply because mobile banking isn’t offered."
RBS and NatWest banking apps arrive on Windows Phone
"Windows Phone users will now be able to move their money on the go far easier thanks to Royal Bank of Scotland (RBS) and NatWest Mobile Banking apps arriving on the Windows Phone OS. Enabling customers to check their balance and transaction history with ease, the RBS and NatWest mobile banking apps are available now from the Windows Phone store for Windows Phone handsets such as the Windows Phone 8X by HTC and Nokia Lumia 920."
Mobile banking revolution renewed by Samsung boom
"The internet conspired to close branches across the country, and now the smartphone is wreaking a banking revolution of its own as Samsung-wielding consumers drive a renewed charge to mobile banking. Roy Morgan’s ‘Mobile Phone Monitor’ found the number of Australians banking on their smartphones grew from 17.1% at the start of the year to 20.3% in December, driving a downturn in banking online via computers, which dropped from 55.2% to 49.3% over the same period."
Mobile banking: How to be safe
"Instead, she whips out her tablet or smart phone and logs on to her bank's app. 'I use it for everything,' she said. 'It sends me text messages to tell me my account balance and how much I spent in certain categories for my budget.' By the end of this year, an estimated 43 percent of bank customers will be using mobile devices to bank on the go."
"Many banks tend to view Mobile Banking as a truncated version of Internet Banking and most of them offer mobile banking only to their existing Internet Banking users. This approach completely negates the true potential of mobile - after all, if I check my account balance once a week, make one or two fund transfers per month and don't buy more than 10 banking products all my life, I don't need a mobile phone to carry out these infrequent banking activities "here and now". No wonder adoption rates of Mobile Banking are nothing to write home about and, according to the recently published World Retail Banking Report 2012, Branch and Internet Banking continue to remain the two most important channels for retail banking."
Mobile Banking Now Vital To Customer Acquisition
"Since the third quarter of 2010, interest in mobile banking as a “must have” feature among those consumers actively shopping for new checking accounts has grown by a whopping 63%. In January 2013, over 18% of all shoppers that used the comparison tool on FindABetterBank.com indicated mobile banking is a “must have” feature. A survey recently fielded on FindABetterBank uncovered that 88% of shoppers who said mobile banking is a “must have” feature are already mobile banking users. Therefore, as more consumers download their bank’s mobile apps and begin using them, you can expect the number of consumers demanding mobile banking when they’re shopping for a new institution to increase steadily. Few people, however, defect from an institution simply because mobile banking isn’t offered."
RBS and NatWest banking apps arrive on Windows Phone
"Windows Phone users will now be able to move their money on the go far easier thanks to Royal Bank of Scotland (RBS) and NatWest Mobile Banking apps arriving on the Windows Phone OS. Enabling customers to check their balance and transaction history with ease, the RBS and NatWest mobile banking apps are available now from the Windows Phone store for Windows Phone handsets such as the Windows Phone 8X by HTC and Nokia Lumia 920."
Mobile banking revolution renewed by Samsung boom
"The internet conspired to close branches across the country, and now the smartphone is wreaking a banking revolution of its own as Samsung-wielding consumers drive a renewed charge to mobile banking. Roy Morgan’s ‘Mobile Phone Monitor’ found the number of Australians banking on their smartphones grew from 17.1% at the start of the year to 20.3% in December, driving a downturn in banking online via computers, which dropped from 55.2% to 49.3% over the same period."
Mobile banking: How to be safe
"Instead, she whips out her tablet or smart phone and logs on to her bank's app. 'I use it for everything,' she said. 'It sends me text messages to tell me my account balance and how much I spent in certain categories for my budget.' By the end of this year, an estimated 43 percent of bank customers will be using mobile devices to bank on the go."
Sunday, December 30, 2012
Mobile Banking Updates - Dec 30
Mobile Banking Forecast: Smartphone and Tablet Use in the United States
"A new report from Aite Group provides financial services executives with guidance on the most important mobile banking features for investment. Based on a Q2 2012 Aite Group survey of 1,115 U.S. consumers, the report forecasts consumer mobile device use for a variety of financial transactions and activities."
First Niagara Bank Launches Mobile Banking Apps
"First Niagara Bank has released the first version of its native mobile-banking applications. Now available for download through the Apple App Store and Google Play store, First Niagara’s mobile apps allow customers to view account balances, access transaction history, transfer money between First Niagara accounts, pay bills and locate the nearest branch or ATM."
Mobile banking expected to triple from 2012 to 2016
"The future of mobile banking is strong, according to a new report from analysts at Aite Group. The Boston-based research firm said that approximately 7,000 financial institutions in the U.S. now offer mobile banking services and that more will deploy them in the years ahead, judging by growing consumer demand."
NatWest and RBS mobile banking apps falter
"NatWest and Royal Bank of Scotland (RBS) customers have been unable to access their bank accounts through their mobile phones just as consumers try to keep tabs on spending in the run-up to Christmas. Ulster Bank, business, commercial and offshore account holders also experienced problems with intermittent access to their respective mobile apps today. While service has now been restored for most customers using iPhone, Blackberry and Android phones, this incident comes just two months after NatWest had to suspend its Get Cash mobile phone application amid reports that some customers had hundreds of pounds withdrawn by fraudsters."
Mobile banking useful, not universal
"If you've seen any bank commercials lately, you'd think mobile banking is a standard feature on bank accounts these days. But while it's gaining in popularity, it's still not a given that your bank offers it. There are now around 7,000 financial institutions offering mobile banking to retail banking customers, according to an estimate in a new report by Aite Group. Considering there are about a little more than 14,000 banks, thrifts and credit unions in the country, according to data from the Federal Deposit Insurance Corp. and the National Credit Union Administration, that means about half of all financial institutions offer customers the ability to bank on their cellphones."
"A new report from Aite Group provides financial services executives with guidance on the most important mobile banking features for investment. Based on a Q2 2012 Aite Group survey of 1,115 U.S. consumers, the report forecasts consumer mobile device use for a variety of financial transactions and activities."
First Niagara Bank Launches Mobile Banking Apps
"First Niagara Bank has released the first version of its native mobile-banking applications. Now available for download through the Apple App Store and Google Play store, First Niagara’s mobile apps allow customers to view account balances, access transaction history, transfer money between First Niagara accounts, pay bills and locate the nearest branch or ATM."
Mobile banking expected to triple from 2012 to 2016
"The future of mobile banking is strong, according to a new report from analysts at Aite Group. The Boston-based research firm said that approximately 7,000 financial institutions in the U.S. now offer mobile banking services and that more will deploy them in the years ahead, judging by growing consumer demand."
NatWest and RBS mobile banking apps falter
"NatWest and Royal Bank of Scotland (RBS) customers have been unable to access their bank accounts through their mobile phones just as consumers try to keep tabs on spending in the run-up to Christmas. Ulster Bank, business, commercial and offshore account holders also experienced problems with intermittent access to their respective mobile apps today. While service has now been restored for most customers using iPhone, Blackberry and Android phones, this incident comes just two months after NatWest had to suspend its Get Cash mobile phone application amid reports that some customers had hundreds of pounds withdrawn by fraudsters."
Mobile banking useful, not universal
"If you've seen any bank commercials lately, you'd think mobile banking is a standard feature on bank accounts these days. But while it's gaining in popularity, it's still not a given that your bank offers it. There are now around 7,000 financial institutions offering mobile banking to retail banking customers, according to an estimate in a new report by Aite Group. Considering there are about a little more than 14,000 banks, thrifts and credit unions in the country, according to data from the Federal Deposit Insurance Corp. and the National Credit Union Administration, that means about half of all financial institutions offer customers the ability to bank on their cellphones."
Monday, July 16, 2012
Mobile Banking Updates - Jul 16
Mobile banking, once a gee whiz feature, is becoming ubiquitous
"Mobile banking, which not long ago was the next new thing, is quickly becoming a must-have service for area banks and credit unions. Just in the past few months, a number of financial institutions with a presence in the Triangle have enabled their smartphone-wielding customers to transfer funds, look up their balances, pay bills and handle other banking chores while on the go."
The Mobile Value Chain Challenge
"When the first mobile banking services launched in the late 90’s, the technology was way ahead of consumers – both their needs and access to the technology. Internet banking was still being established and so banks and consumers were still building confidence in accessing their accounts remotely. More importantly, whilst it was technologically possible to create a WAP banking site, most consumers didn’t have a WAP capable phone, and even those who did, the user experience was very poor."
Mobile Banking Advocates Open North American Unit
"Mobey Forum North America will bring together experts in the industry to resolve issues affecting mobile financial services, the group said Monday. Members will include representatives from American Express (AXP), Bank of America (BAC), Capital One Financial (COF), CIBC (CM), MasterCard (MA), TD Bank Group (TD), U.S. Bancorp (USB) and Visa (NYSE:V)."
Citi's Endorsement Could Be Huge For Facebook's Online Banking Push
"We recently commented on Facebook’s rumored interest in the online social banking space, which seems to be the next logical progression after internet and mobile banking offerings from major banks have firmly taken root. Apparently, Citibank may already be working such a social banking offering on the Facebook platform."
ATM Cash Withdrawals Go Cardless With Mobile Banking App
"Customers of RBS and NatWest, two major UK banks, can ditch their debit cards for their mobile phones. Thanks to a new innovation, customers can use the ‘GetCash’ service to pull cash from ATMs without needing a debit card. GetCash offers customers an easy fix for lost or forgotten cards, a way to get cash quickly to family members or friends in need, or a choice of leaving their wallets at home."
Barclays unveils latest mobile banking application
"Barclays has kicked off a new free mobile banking solution, which facilitates its customers to have simple access and a way of managing their accounts while traveling. The UK based lender said that the mobile banking application is available on its site at no cost, which will enable the bank's personal and small business customers to view their balances and last 30 transactions, make transfers between accounts, pay bills and find branches or Barclays ATMs."
"Mobile banking, which not long ago was the next new thing, is quickly becoming a must-have service for area banks and credit unions. Just in the past few months, a number of financial institutions with a presence in the Triangle have enabled their smartphone-wielding customers to transfer funds, look up their balances, pay bills and handle other banking chores while on the go."
The Mobile Value Chain Challenge
"When the first mobile banking services launched in the late 90’s, the technology was way ahead of consumers – both their needs and access to the technology. Internet banking was still being established and so banks and consumers were still building confidence in accessing their accounts remotely. More importantly, whilst it was technologically possible to create a WAP banking site, most consumers didn’t have a WAP capable phone, and even those who did, the user experience was very poor."
Mobile Banking Advocates Open North American Unit
"Mobey Forum North America will bring together experts in the industry to resolve issues affecting mobile financial services, the group said Monday. Members will include representatives from American Express (AXP), Bank of America (BAC), Capital One Financial (COF), CIBC (CM), MasterCard (MA), TD Bank Group (TD), U.S. Bancorp (USB) and Visa (NYSE:V)."
Citi's Endorsement Could Be Huge For Facebook's Online Banking Push
"We recently commented on Facebook’s rumored interest in the online social banking space, which seems to be the next logical progression after internet and mobile banking offerings from major banks have firmly taken root. Apparently, Citibank may already be working such a social banking offering on the Facebook platform."
ATM Cash Withdrawals Go Cardless With Mobile Banking App
"Customers of RBS and NatWest, two major UK banks, can ditch their debit cards for their mobile phones. Thanks to a new innovation, customers can use the ‘GetCash’ service to pull cash from ATMs without needing a debit card. GetCash offers customers an easy fix for lost or forgotten cards, a way to get cash quickly to family members or friends in need, or a choice of leaving their wallets at home."
Barclays unveils latest mobile banking application
"Barclays has kicked off a new free mobile banking solution, which facilitates its customers to have simple access and a way of managing their accounts while traveling. The UK based lender said that the mobile banking application is available on its site at no cost, which will enable the bank's personal and small business customers to view their balances and last 30 transactions, make transfers between accounts, pay bills and find branches or Barclays ATMs."
Friday, July 6, 2012
Mobile Banking Updates - Jul 6
Report: Customers leave FIs for conveniences like mobile banking
"Eleven percent of consumers are likely to switch primary financial institutions in 2012 in a quest for greater convenience and service, according to a new report announced this week by Javelin Strategy & Research. Giant banks face even larger defections, with Citibank and Bank of America at risk of losing twice as many customers. This could mean huge potential losses for FIs; switchers manage $675 billion in deposits, and manage deposits that are 30 percent higher than customers who are unlikely to switch."
Are Cash Withdrawals Without a Debit Card the Future of Personal Banking?
"This month has seen the announcement of ground-breaking mobile banking applications from both the Royal Bank of Scotland (RBS), a group which also includes British bank Natwest, and US-based ATM suppliers NRC Corporation. ‘There’s an app for that…’ Responding to the growing utilisation of smart phones (the market growth of smartphones was 63% last year), RBS is introducing its ‘Getcash’ software to the 2.4 million customers who already use the RBS and Natwest mobile banking application.
Why developing economies are embracing mobile banking
"More than half of the world's adults — 2.5 billion — are unbanked, according to research recently published by the World Bank Development Research Group. The American government, however, estimates that the U.S. is home to only 10 million of them, which means the vast majority of the unbanked live outside the country. And many of them reside in developing areas, such as India, where more than 40 percent of residents are unbanked, and Africa, where that number is at a staggering 80 percent."
CertusBank goes Mobile -- Expanded Online Offering
"CertusBank, N.A. introduces mobile banking for all retail banking customers across its footprint. Banking whenever and wherever you want - CertusBank Mobile Banking customers can reach us via text messaging and browser supported service. Convenient and secure - CertusBank Mobile Banking offers our full range of online banking services, including:"
"Eleven percent of consumers are likely to switch primary financial institutions in 2012 in a quest for greater convenience and service, according to a new report announced this week by Javelin Strategy & Research. Giant banks face even larger defections, with Citibank and Bank of America at risk of losing twice as many customers. This could mean huge potential losses for FIs; switchers manage $675 billion in deposits, and manage deposits that are 30 percent higher than customers who are unlikely to switch."
Are Cash Withdrawals Without a Debit Card the Future of Personal Banking?
"This month has seen the announcement of ground-breaking mobile banking applications from both the Royal Bank of Scotland (RBS), a group which also includes British bank Natwest, and US-based ATM suppliers NRC Corporation. ‘There’s an app for that…’ Responding to the growing utilisation of smart phones (the market growth of smartphones was 63% last year), RBS is introducing its ‘Getcash’ software to the 2.4 million customers who already use the RBS and Natwest mobile banking application.
Why developing economies are embracing mobile banking
"More than half of the world's adults — 2.5 billion — are unbanked, according to research recently published by the World Bank Development Research Group. The American government, however, estimates that the U.S. is home to only 10 million of them, which means the vast majority of the unbanked live outside the country. And many of them reside in developing areas, such as India, where more than 40 percent of residents are unbanked, and Africa, where that number is at a staggering 80 percent."
CertusBank goes Mobile -- Expanded Online Offering
"CertusBank, N.A. introduces mobile banking for all retail banking customers across its footprint. Banking whenever and wherever you want - CertusBank Mobile Banking customers can reach us via text messaging and browser supported service. Convenient and secure - CertusBank Mobile Banking offers our full range of online banking services, including:"
Wednesday, June 27, 2012
Mobile Banking Updats - Jun 27
Mobile Wallets: Big Opportunity, Big Hurdles
"What's the role of banks in the new mobile payments model? Sitting in front of a room full of bankers at the Mobile Banking and Commerce Summit in San Francisco, some of the biggest players in the burgeoning mobile wallet space wasted no time Tuesday tackling that question. The query itself suggested that banks still don't know enough about the power of mobile wallets and the potential benefits of partnering with their developers."
Tablets, Mobile Payments, Disruptors Among Hot Topics at Celent Banking Innovation & Insight Day
"Tablet banking, mobile payments and financial services disruptors were among the big topics discussed at analyst and research firm Celent's fifth annual Banking Insight & Innovation Day. The event, held in Charlotte, N.C., drew more than 100 bankers and financial services technology companies to go over the hot topics of the day. The overarching message? Change is coming to banking, and it's coming soon."
Mobile Banking Leads Survey as Next Shared Banking Service
"A majority of participating credit unions with the Credit Union Centers, a shared branching CUSO that serves primarily credit unions in Indiana and Illinois, listed having a mobile version of shared branching as a shared branch service they would most like to see developed."
Top Mobile Banking Security Tips
"Remember when mobile banking meant visiting your local branch? Today it means being able to make balance inquiries, deposits and account transfers with just a few taps on your smartphone. And that’s just the beginning. 'The scope of mobile banking has clearly expanded over the last 18 months,' said Sonia Lalli, a mobile banking analyst at Juniper Research, 'particularly because of the expanded and more intelligent capabilities offered by the smartphone, as well as a greater range of affordable non-iPhone devices.'”
Will Banking Apps Kill Debit Cards?
"Forget your debit card? Soon, withdrawals by smartphone may become routine, if they can overcome security issues that continue to plague mobile banking apps. The U.K. is making strides in mobile banking, with the Royal Bank of Scotland and NatWest developing mobile banking apps so customers can withdraw money from ATMs using their smartphones instead of debit cards."
Westfield Bank Leads the Way in Mobile Banking
"Westfield Bank (the “Bank”), a wholly owned subsidiary of Westfield Financial, Inc. (NasdaqGS:WFD), is enhancing its state-of-the-art services to customers with the release of new apps for the Apple iPhone®, iPad®, iPod touch® as well as smartphones using the Android operating system. The Bank is one of the first community banks in the western Massachusetts area to offer these high-end technology services. The Bank’s leadership is committed to keeping traditional banking services while also enabling on-the-go customers convenient access to their finances using smartphone mobile devices."
"What's the role of banks in the new mobile payments model? Sitting in front of a room full of bankers at the Mobile Banking and Commerce Summit in San Francisco, some of the biggest players in the burgeoning mobile wallet space wasted no time Tuesday tackling that question. The query itself suggested that banks still don't know enough about the power of mobile wallets and the potential benefits of partnering with their developers."
Tablets, Mobile Payments, Disruptors Among Hot Topics at Celent Banking Innovation & Insight Day
"Tablet banking, mobile payments and financial services disruptors were among the big topics discussed at analyst and research firm Celent's fifth annual Banking Insight & Innovation Day. The event, held in Charlotte, N.C., drew more than 100 bankers and financial services technology companies to go over the hot topics of the day. The overarching message? Change is coming to banking, and it's coming soon."
Mobile Banking Leads Survey as Next Shared Banking Service
"A majority of participating credit unions with the Credit Union Centers, a shared branching CUSO that serves primarily credit unions in Indiana and Illinois, listed having a mobile version of shared branching as a shared branch service they would most like to see developed."
Top Mobile Banking Security Tips
"Remember when mobile banking meant visiting your local branch? Today it means being able to make balance inquiries, deposits and account transfers with just a few taps on your smartphone. And that’s just the beginning. 'The scope of mobile banking has clearly expanded over the last 18 months,' said Sonia Lalli, a mobile banking analyst at Juniper Research, 'particularly because of the expanded and more intelligent capabilities offered by the smartphone, as well as a greater range of affordable non-iPhone devices.'”
Will Banking Apps Kill Debit Cards?
"Forget your debit card? Soon, withdrawals by smartphone may become routine, if they can overcome security issues that continue to plague mobile banking apps. The U.K. is making strides in mobile banking, with the Royal Bank of Scotland and NatWest developing mobile banking apps so customers can withdraw money from ATMs using their smartphones instead of debit cards."
Westfield Bank Leads the Way in Mobile Banking
"Westfield Bank (the “Bank”), a wholly owned subsidiary of Westfield Financial, Inc. (NasdaqGS:WFD), is enhancing its state-of-the-art services to customers with the release of new apps for the Apple iPhone®, iPad®, iPod touch® as well as smartphones using the Android operating system. The Bank is one of the first community banks in the western Massachusetts area to offer these high-end technology services. The Bank’s leadership is committed to keeping traditional banking services while also enabling on-the-go customers convenient access to their finances using smartphone mobile devices."
Monday, June 25, 2012
International Mobile Banking Updates - Jun 25
HTC to unveil mobile banking phone in Taiwan
"Taiwan's HTC Corp. will announce a partnership in mobile payments with a local bank and card companies this week as it seeks to play a larger role in the promising mobile banking industry. The world's No. 5 smartphone vendor is scheduled to hold a joint news conference on June 19 with Cathay United Bank, EasyCard Corp. and MasterCard International to launch a co-branded card, according to a statement."
Mobile money transfers: Zim drifts towards cashless economy
"ZIMBABWE’s financial transacting public has been presented with a plethora of money transfer options, as the country moves towards a cashless economy. Mobile money products on the market include; Kingdom CellCard, ZB Bank’s e-Wallet and e-Mali, Econet’s EcoCash product, as well as CABS’ TextaCash. FBC has joined the bandwagon with Mobile Moola, a new Automated Teller Machine (ATM) card from which one can send money to anyone with a mobile phone on any network."
Absa attracts 120,000 mobile customers each month
"Absa says it attracts an average of 120,000 new mobile customers each month and boasts in excess of 3.6 million mobile banking clients and 1.35 million online customers. According to Christo Vrey, head of Absa Digital Banking, the group attracted 180,000 new mobile users in March. Absa will not provide a date for the launch of its banking application; however, the group’s new multi-million online platform has been optimised for tablet use."
ASB customers embrace mobile apps
"ASB Bank chief executive Barbara Chapman says consumers are switching on to mobile banking at four times the rate of internet banking when it first took off. However, banks were getting faster at being able to copy each other's technological innovations so any competitive advantages they gained would be more short-lived. 'When we introduced internet banking, I think we had a two- or three-year advantage on every other competitor. There is no way you would expect a two- or three-year advantage on any technology now' she said."
Sybase 365 Enables Allied Bank Limited to Accelerate Adoption of Mobile Banking in Pakistan
"Sybase 365, a subsidiary of Sybase, Inc., the global leader in mobile messaging and mobile commerce services, together with AbacusConsulting, one of Pakistan's largest professional services firms, today announced that Allied Bank Limited, one of Pakistan's largest banks, has chosen the Sybase 365 Mobile Commerce solution to offer mobile financial services to its customers."
St. George releases pay-to-mobile app
"St. George has launched a pay-to-mobile app which will allow users to send payments on their smartphones. To make a payment, users need to put in the recipient’s mobile number and hit ‘transfer’. The app then notifies the recipient money has been transferred and they are directed to a secure website where they put in their BSB and account details."
Ethiopia to Regulate Mobile Banking
"The National Bank of Ethiopia is to issue a new directive for mobile banking directives. The central bank regulation officials and presidents of banks had final discussions on the draft regulation last week. The bank circulated the draft regulation to all banks for comments and expects it to come into effect in three weeks time according to sources. The regulation will control the way in which mobile banking is implemented, identifying and protecting users and how much money can be transacted.
UN Calls For Mobile Banking Rules
"The United Nations on Thursday called for rules to coordinate the use of mobile money services in East Africa."
With mobile banking growing rapidly, banks too need to step up their security features
"Mobile banking may still be in its infancy but it is growing at a phenomenal pace, according to Mr Trevor Haeger, Chief Information Officer for Standard Chartered Bank, Singapore. For Standard Chartered Bank, Singapore, the growth rate of active users utilising its Internet banking services was 33 per cent between 2010 and 2012. The growth rate of active users for its mobile banking services was a whopping 92 per cent from 2010 to 2012."
Brazilian Bank Federation sees boom in mobile banking market
"Making financial transactions with mobile devices is not considered new in Brazil. However, the service is far from being heavily used. During this week’s Ciab (check all stories) —a conference and exposition focused on IT for financial institutions held in São Paulo—banks and vendors are trying to show how the connected society (also a central theme of the event) is changing the way banks do business."
Banks to offer mobile banking service by mid-2013
"All banks are expected to participate in mobile banking service by the middle of next year, says e-payment service provider, Malaysian Electronic Clearing Corp Sdn Bhd (MyClear). 'Our objective is to get the entire industry to participate to encourage usage of e-payment gradually,' said MyClear managing director, Mohd Suhail Amar Suresh."
RBS adds ATM cash dispensing to mobile banking app
"Customers are presented with a 'GetCash' option within the RBS and Natwest iOS, Android and BlackBerry apps that lets them request up to £100. A six digit PIN is then generated which can be entered at the banks' ATMs at any point within the next three hours to collect the money. Customers can make as many requests as they want in a day as long as they do not exceed their withdrawal limit."
"Taiwan's HTC Corp. will announce a partnership in mobile payments with a local bank and card companies this week as it seeks to play a larger role in the promising mobile banking industry. The world's No. 5 smartphone vendor is scheduled to hold a joint news conference on June 19 with Cathay United Bank, EasyCard Corp. and MasterCard International to launch a co-branded card, according to a statement."
Mobile money transfers: Zim drifts towards cashless economy
"ZIMBABWE’s financial transacting public has been presented with a plethora of money transfer options, as the country moves towards a cashless economy. Mobile money products on the market include; Kingdom CellCard, ZB Bank’s e-Wallet and e-Mali, Econet’s EcoCash product, as well as CABS’ TextaCash. FBC has joined the bandwagon with Mobile Moola, a new Automated Teller Machine (ATM) card from which one can send money to anyone with a mobile phone on any network."
Absa attracts 120,000 mobile customers each month
"Absa says it attracts an average of 120,000 new mobile customers each month and boasts in excess of 3.6 million mobile banking clients and 1.35 million online customers. According to Christo Vrey, head of Absa Digital Banking, the group attracted 180,000 new mobile users in March. Absa will not provide a date for the launch of its banking application; however, the group’s new multi-million online platform has been optimised for tablet use."
ASB customers embrace mobile apps
"ASB Bank chief executive Barbara Chapman says consumers are switching on to mobile banking at four times the rate of internet banking when it first took off. However, banks were getting faster at being able to copy each other's technological innovations so any competitive advantages they gained would be more short-lived. 'When we introduced internet banking, I think we had a two- or three-year advantage on every other competitor. There is no way you would expect a two- or three-year advantage on any technology now' she said."
Sybase 365 Enables Allied Bank Limited to Accelerate Adoption of Mobile Banking in Pakistan
"Sybase 365, a subsidiary of Sybase, Inc., the global leader in mobile messaging and mobile commerce services, together with AbacusConsulting, one of Pakistan's largest professional services firms, today announced that Allied Bank Limited, one of Pakistan's largest banks, has chosen the Sybase 365 Mobile Commerce solution to offer mobile financial services to its customers."
St. George releases pay-to-mobile app
"St. George has launched a pay-to-mobile app which will allow users to send payments on their smartphones. To make a payment, users need to put in the recipient’s mobile number and hit ‘transfer’. The app then notifies the recipient money has been transferred and they are directed to a secure website where they put in their BSB and account details."
Ethiopia to Regulate Mobile Banking
"The National Bank of Ethiopia is to issue a new directive for mobile banking directives. The central bank regulation officials and presidents of banks had final discussions on the draft regulation last week. The bank circulated the draft regulation to all banks for comments and expects it to come into effect in three weeks time according to sources. The regulation will control the way in which mobile banking is implemented, identifying and protecting users and how much money can be transacted.
UN Calls For Mobile Banking Rules
"The United Nations on Thursday called for rules to coordinate the use of mobile money services in East Africa."
With mobile banking growing rapidly, banks too need to step up their security features
"Mobile banking may still be in its infancy but it is growing at a phenomenal pace, according to Mr Trevor Haeger, Chief Information Officer for Standard Chartered Bank, Singapore. For Standard Chartered Bank, Singapore, the growth rate of active users utilising its Internet banking services was 33 per cent between 2010 and 2012. The growth rate of active users for its mobile banking services was a whopping 92 per cent from 2010 to 2012."
Brazilian Bank Federation sees boom in mobile banking market
"Making financial transactions with mobile devices is not considered new in Brazil. However, the service is far from being heavily used. During this week’s Ciab (check all stories) —a conference and exposition focused on IT for financial institutions held in São Paulo—banks and vendors are trying to show how the connected society (also a central theme of the event) is changing the way banks do business."
Banks to offer mobile banking service by mid-2013
"All banks are expected to participate in mobile banking service by the middle of next year, says e-payment service provider, Malaysian Electronic Clearing Corp Sdn Bhd (MyClear). 'Our objective is to get the entire industry to participate to encourage usage of e-payment gradually,' said MyClear managing director, Mohd Suhail Amar Suresh."
RBS adds ATM cash dispensing to mobile banking app
"Customers are presented with a 'GetCash' option within the RBS and Natwest iOS, Android and BlackBerry apps that lets them request up to £100. A six digit PIN is then generated which can be entered at the banks' ATMs at any point within the next three hours to collect the money. Customers can make as many requests as they want in a day as long as they do not exceed their withdrawal limit."
Thursday, June 21, 2012
Mobile Banking Updates - Jun 21
Mobile, Tablet, Industry Disruptors Among Topics to be Featured at Celent Banking Insight & Innovation Day
"The future of mobile and tablet banking, and disruptors in the financial services space will be among the major topics discussed at Celent's Banking Insight & Innovation Day next week in Charlotte, N.C. This will be the fifth year the Boston-based analyst form will host the event, which will feature Celent analysts as well as representatives from more than 30 banks. Celent will also be issuingits "Model Bank" awards at the event."
PSECU Rolls Out Kindle, Large-Screen Android Banking Apps
"The $4 billion Pennsylvania State Employees Credit Union is now offering its 388,000 members two new mobile banking applications. One is a Kindle Fire app available on the Amazon Appstore and the other is for large-screen Android tablets and is available on Google Play, PSECU said. Both were developed for the Harrisburg, Pa., credit union by Vertifi Software LLC of Burlington, Mass."
5 Ways Banking is Changing Fast
"When bank ATMs first started appearing in the U.S. some 40 years ago, they were hard to miss. Recent innovations have been much more stealthy — but just as groundbreaking. In case you’ve missed them, here are five contemporary, cutting-edge technologies that are quickly changing banking:"
Plastyc to Address Mobile Banking for the Unbanked at Clinton Global Initiative
"Plastyc CEO Patrice Peyret will share examples of innovative services and products for the unbanked at the second annual Clinton Global Initiative America (CGI America) in Chicago June 7th and 8th. As participant in the CGI Financial Inclusion: Building a Path to Financial Security working group, Peyret will discuss leveraging mobile technology to reach traditionally underbanked consumers and using advanced features and analytics to help support financial responsibility."
RBS Citizens Treasury Solutions Experts to Speak On Mobile Banking, Payments Fraud, and Data Connectivity at Windy City Treasury Conference
"Mobile banking, fraud prevention, and the challenges of data connectivity will be the topics of presentations by experts from RBS Citizens' Treasury Solutions group this week at the Windy City Summit. Hosted by the Treasury Management Association of Chicago, the conference is the premier gathering for corporate treasury and finance professionals in the region."
Now Live -- Heartland Bank iPad App and Mobile Browser
"G. Scott McComb, President and CEO of Heartland Bank is pleased to announce an additional service to Heartland Bank's Online Banking. McComb stated, 'In 2011, Heartland launched both its Mobile Banking iPhone and Android App. Today, we are proud to introduce another Heartland Online Banking Solution - the iPad App.'"
ACI Worldwide Shares New Product Plans With Market
"ACI Worldwide ACIW +2.12% , a leading international provider of payment systems, today released details of its product roadmaps to the market, and described how the combination of ACI and S1 adds innovation, new product capabilities and resources around the globe to support the needs of its customers. The roadmaps were released to a gathering of customers at the company's annual ACI Exchange conference in Miami. The event marks the first collaborative exchange of the combined customer bases, and will be followed by ACI Exchange conferences in Monaco, June 12-15, and in Bangkok in November."
"The future of mobile and tablet banking, and disruptors in the financial services space will be among the major topics discussed at Celent's Banking Insight & Innovation Day next week in Charlotte, N.C. This will be the fifth year the Boston-based analyst form will host the event, which will feature Celent analysts as well as representatives from more than 30 banks. Celent will also be issuingits "Model Bank" awards at the event."
PSECU Rolls Out Kindle, Large-Screen Android Banking Apps
"The $4 billion Pennsylvania State Employees Credit Union is now offering its 388,000 members two new mobile banking applications. One is a Kindle Fire app available on the Amazon Appstore and the other is for large-screen Android tablets and is available on Google Play, PSECU said. Both were developed for the Harrisburg, Pa., credit union by Vertifi Software LLC of Burlington, Mass."
5 Ways Banking is Changing Fast
"When bank ATMs first started appearing in the U.S. some 40 years ago, they were hard to miss. Recent innovations have been much more stealthy — but just as groundbreaking. In case you’ve missed them, here are five contemporary, cutting-edge technologies that are quickly changing banking:"
Plastyc to Address Mobile Banking for the Unbanked at Clinton Global Initiative
"Plastyc CEO Patrice Peyret will share examples of innovative services and products for the unbanked at the second annual Clinton Global Initiative America (CGI America) in Chicago June 7th and 8th. As participant in the CGI Financial Inclusion: Building a Path to Financial Security working group, Peyret will discuss leveraging mobile technology to reach traditionally underbanked consumers and using advanced features and analytics to help support financial responsibility."
RBS Citizens Treasury Solutions Experts to Speak On Mobile Banking, Payments Fraud, and Data Connectivity at Windy City Treasury Conference
"Mobile banking, fraud prevention, and the challenges of data connectivity will be the topics of presentations by experts from RBS Citizens' Treasury Solutions group this week at the Windy City Summit. Hosted by the Treasury Management Association of Chicago, the conference is the premier gathering for corporate treasury and finance professionals in the region."
Now Live -- Heartland Bank iPad App and Mobile Browser
"G. Scott McComb, President and CEO of Heartland Bank is pleased to announce an additional service to Heartland Bank's Online Banking. McComb stated, 'In 2011, Heartland launched both its Mobile Banking iPhone and Android App. Today, we are proud to introduce another Heartland Online Banking Solution - the iPad App.'"
ACI Worldwide Shares New Product Plans With Market
"ACI Worldwide ACIW +2.12% , a leading international provider of payment systems, today released details of its product roadmaps to the market, and described how the combination of ACI and S1 adds innovation, new product capabilities and resources around the globe to support the needs of its customers. The roadmaps were released to a gathering of customers at the company's annual ACI Exchange conference in Miami. The event marks the first collaborative exchange of the combined customer bases, and will be followed by ACI Exchange conferences in Monaco, June 12-15, and in Bangkok in November."
Sunday, May 20, 2012
Mobile Banking Updates - May 21
Forrester: How do the top U.S. banks rank in their mobile services?
"Mobile is the new black: In 2011, the number of smartphone subscriptions in the U.S. grew by about 50 percent. Today, U.S. smartphone penetration is approximately 40 percent. This technological sea change is having an impact on the banking industry: In the past five years, U.S. mobile banking adoption has more than quadrupled, hitting 17 percent by the end of 2011. This represents a compound annual growth rate (CAGR) of more than 33 percent."
Finovate Spring 2012: Digital Financial Services Innovation
"I attended Finovatethis week to get a preview of new financial services digital technology vendors. I say preview because if you have ever been to Finovate, you know it’s a little like speed dating, where 63 vendors have 7 minutes each to show you their best moves. The themes at Finovate this year were not much different as previous years with the focus being on mobile banking, personal financial management, and payments. However, this year, a few new topics emerged: rewards, coupons, and mobile banking services for Pre-Paid Visas customers. Apparently, Pre-Paid Visas are the new black."
What will be the biggest mobile banking trends of 2012?
"Pieter De Villiers - CEO of Clickatell - told MyBroadband BusinessTech that the biggest mobile banking trends this year will be person-to-person payments, mobile cheque capture and customised apps. As you can see, businesstech.co.za is a South African site, but Clickatell is a global company - 'the largest Online SMS Gateway covering 819 networks in 221 countries and territories'."
RBS Citizens Financial Group, Inc. Extends Mobile Banking to Android(TM), Expands Online Banking and Mobile Banking Platforms
"RBS Citizens Financial Group, Inc. today unveiled enhanced online and mobile banking platforms for Citizens Bank and Charter One customers, with updates including person-to-person payments on the web and expanded mobile functionality that is now available to Android users in addition to iPhone users. 'Our customers have embraced the ease and convenience of online and mobile banking, and these enhancements are a direct result of our commitment to invest in the services that customers tell us are important to them,' said Brad Conner, Vice Chairman of Consumer Banking, RBS Citizens Financial Group. 'People are busier than ever, and we are committed to putting our customers in control and showing them how to take care of their banking needs anytime and anywhere.'"
Global Study Identifies Impact of Smartphone Use on Mobile Banking and Payments
"A study of mobile banking and payment adoption rates in 14 countries by ACI Worldwide ACIW -1.30% and Aite Group has discovered a new category of consumer, known as Smartphonatics, that is driving the demand for mobile payments and banking. A Smartphonatic is someone who changes their shopping, financial and payment behavior as a result of owning a smartphone. The report identifies a stark difference between mobile adoption among Smartphonatics and other consumers: while 80 percent of Smartphonatics have used their smartphones for mobile banking only one-third of non-Smartphonatics report doing so. Similarly 70 percent of Smartphonatics have used their smartphones for mobile payments, less than a quarter of non-Smartphonatics have done so."
Citi to Sponsor U.S. Olympic Team, in Campaign Promoting Mobile Banking
"For the first time, Citi will sponsor the United States Olympic and Paralympic teams, in an effort that includes an advertising campaign that will begin on Monday to help the company support athletes and advertise its mobile-banking products. It joins a number of other financial-services firms as an Olympics sponsor, including Visa."
"Mobile is the new black: In 2011, the number of smartphone subscriptions in the U.S. grew by about 50 percent. Today, U.S. smartphone penetration is approximately 40 percent. This technological sea change is having an impact on the banking industry: In the past five years, U.S. mobile banking adoption has more than quadrupled, hitting 17 percent by the end of 2011. This represents a compound annual growth rate (CAGR) of more than 33 percent."
Finovate Spring 2012: Digital Financial Services Innovation
"I attended Finovatethis week to get a preview of new financial services digital technology vendors. I say preview because if you have ever been to Finovate, you know it’s a little like speed dating, where 63 vendors have 7 minutes each to show you their best moves. The themes at Finovate this year were not much different as previous years with the focus being on mobile banking, personal financial management, and payments. However, this year, a few new topics emerged: rewards, coupons, and mobile banking services for Pre-Paid Visas customers. Apparently, Pre-Paid Visas are the new black."
What will be the biggest mobile banking trends of 2012?
"Pieter De Villiers - CEO of Clickatell - told MyBroadband BusinessTech that the biggest mobile banking trends this year will be person-to-person payments, mobile cheque capture and customised apps. As you can see, businesstech.co.za is a South African site, but Clickatell is a global company - 'the largest Online SMS Gateway covering 819 networks in 221 countries and territories'."
RBS Citizens Financial Group, Inc. Extends Mobile Banking to Android(TM), Expands Online Banking and Mobile Banking Platforms
"RBS Citizens Financial Group, Inc. today unveiled enhanced online and mobile banking platforms for Citizens Bank and Charter One customers, with updates including person-to-person payments on the web and expanded mobile functionality that is now available to Android users in addition to iPhone users. 'Our customers have embraced the ease and convenience of online and mobile banking, and these enhancements are a direct result of our commitment to invest in the services that customers tell us are important to them,' said Brad Conner, Vice Chairman of Consumer Banking, RBS Citizens Financial Group. 'People are busier than ever, and we are committed to putting our customers in control and showing them how to take care of their banking needs anytime and anywhere.'"
Global Study Identifies Impact of Smartphone Use on Mobile Banking and Payments
"A study of mobile banking and payment adoption rates in 14 countries by ACI Worldwide ACIW -1.30% and Aite Group has discovered a new category of consumer, known as Smartphonatics, that is driving the demand for mobile payments and banking. A Smartphonatic is someone who changes their shopping, financial and payment behavior as a result of owning a smartphone. The report identifies a stark difference between mobile adoption among Smartphonatics and other consumers: while 80 percent of Smartphonatics have used their smartphones for mobile banking only one-third of non-Smartphonatics report doing so. Similarly 70 percent of Smartphonatics have used their smartphones for mobile payments, less than a quarter of non-Smartphonatics have done so."
Citi to Sponsor U.S. Olympic Team, in Campaign Promoting Mobile Banking
"For the first time, Citi will sponsor the United States Olympic and Paralympic teams, in an effort that includes an advertising campaign that will begin on Monday to help the company support athletes and advertise its mobile-banking products. It joins a number of other financial-services firms as an Olympics sponsor, including Visa."
Sunday, November 13, 2011
Mobile Banking Updates - Nov 13
Javelin's Third Annual Report Reveals the Mobile Offerings of Winners JPMorgan Chase, Wells Fargo, Bank of America, and Others
"Javelin Strategy & Research's latest report -- 2011 Mobile Banking Scorecard: Money Begins to Move -- evaluates the abilities of financial institutions (FIs) to meet consumers' growing mobile banking needs as they evolve from mobile account monitoring to mobile money movement and beyond. Javelin's third Mobile Banking Scorecard examines the 23 mobile banking offerings of the 25 largest retail banking FIs and identifies the best performers in the areas of mobile access, general features, SMS text features, marketing and security. The report spotlights emerging mobile banking trends and outlines the strategies that FIs must deploy to stay ahead of -- and satisfy -- customer demands."
Amex to Invest $100 Million in Digital Commerce Startups
"The New York-based credit card company unveiled its plan on Tuesday, saying it would use the funds to invest in early-stage startups involved in digital commerce, including in mobile payments and online marketing. Partnerships with early stage firms will help 'accelerate American Express's digital transformation,' said Harshul Sanghi, managing director of the company's Enterprise Growth Group, in an interview on Monday with American Banker."
"Beam Me Up" - RBS Citizens Expert to Discuss the Evolution of Mobile Banking for Commercial Clients
"'What was only a dream in the days of Star Trek is now a reality to today's small business owners,' says Jim Gifas, Executive Vice President and Head of Global Transaction Services Solutions U.S. of RBS Citizens.'"Because small business owners so often must be out of their offices meeting clients and building their businesses, they have been exceedingly quick to adopt mobile banking technology.'"
Midwest Bank goes mobile: Company to offer banking app
"Mobile banking has arrived in Freeport, via a new app from Midwest Bank. The addition of Midwest Mobile Banking enables a customer to complete most banking tasks via their smart phones. 'We were really surprised how many of our customers used our telebank service and over the past eight to nine years, use of the online banking services has increased exponentially,' said co-CEO Mark Wright."
Mobile Payments Offer Financial Institutions Opportunities With the Unbanked, Pyramid Finds
"A growing ecosystem around mobile commerce and mobile payments has created new opportunities for financial institutions. Decreasing costs and wide availability of mobile devices now allows financial institutions to effectively reach the 50 percent of the population that remains unbanked, according to Jose Magana, Senior Analyst and Pyramid's Practice Leader for Mobile Payments."
"Javelin Strategy & Research's latest report -- 2011 Mobile Banking Scorecard: Money Begins to Move -- evaluates the abilities of financial institutions (FIs) to meet consumers' growing mobile banking needs as they evolve from mobile account monitoring to mobile money movement and beyond. Javelin's third Mobile Banking Scorecard examines the 23 mobile banking offerings of the 25 largest retail banking FIs and identifies the best performers in the areas of mobile access, general features, SMS text features, marketing and security. The report spotlights emerging mobile banking trends and outlines the strategies that FIs must deploy to stay ahead of -- and satisfy -- customer demands."
Amex to Invest $100 Million in Digital Commerce Startups
"The New York-based credit card company unveiled its plan on Tuesday, saying it would use the funds to invest in early-stage startups involved in digital commerce, including in mobile payments and online marketing. Partnerships with early stage firms will help 'accelerate American Express's digital transformation,' said Harshul Sanghi, managing director of the company's Enterprise Growth Group, in an interview on Monday with American Banker."
"Beam Me Up" - RBS Citizens Expert to Discuss the Evolution of Mobile Banking for Commercial Clients
"'What was only a dream in the days of Star Trek is now a reality to today's small business owners,' says Jim Gifas, Executive Vice President and Head of Global Transaction Services Solutions U.S. of RBS Citizens.'"Because small business owners so often must be out of their offices meeting clients and building their businesses, they have been exceedingly quick to adopt mobile banking technology.'"
Midwest Bank goes mobile: Company to offer banking app
"Mobile banking has arrived in Freeport, via a new app from Midwest Bank. The addition of Midwest Mobile Banking enables a customer to complete most banking tasks via their smart phones. 'We were really surprised how many of our customers used our telebank service and over the past eight to nine years, use of the online banking services has increased exponentially,' said co-CEO Mark Wright."
Mobile Payments Offer Financial Institutions Opportunities With the Unbanked, Pyramid Finds
"A growing ecosystem around mobile commerce and mobile payments has created new opportunities for financial institutions. Decreasing costs and wide availability of mobile devices now allows financial institutions to effectively reach the 50 percent of the population that remains unbanked, according to Jose Magana, Senior Analyst and Pyramid's Practice Leader for Mobile Payments."
Tuesday, November 8, 2011
Mobile Banking Updates - Nov 8
RBS Citizens Presents Mobile App Case Study to Senior Financial Executives in Pittsburgh on November 8th
"On November 8, RBS Citizens will present a case study on its accessMOBILE(TM) smart phone banking app for commercial clients at the Financial Executives International meeting in Pittsburgh. During the presentation, Matt Richardson, head of Product Solutions U.S., GTS Americas, RBS Citizens, will discuss the development and launch of the application and the bottom-line results that both small- and mid-size organizations have realized since downloading."
Report Shows U.S. Mobile-Banking Use Is Up 45% Since End Of Year
"Use of mobile financial services rose sharply during the second quarter compared with the end of last year, according to comScore’s latest mobile banking adoption research. Some 32.5 million Americans accessed banking information using mobile devices during the quarter, representing 13.9% of all mobile-phone users, the survey found. Of that total, 12.7 million mobile subscribers used mobile banking applications, up 45% from the fourth quarter of 2010."
Wells Fargo CEO Mobile Deposit Service Makes Banking Easier for Commercial and Corporate Customers
"Wells Fargo & Company WFC +0.08% said today it has launched the CEO Mobile(R) Deposit service, designed specifically for commercial and corporate banking customers. The CEO Mobile Deposit service is accessible by downloading the CEO Mobile iPhone App at the iTunes store. The new service allows customers to capture check and money order images and deposit funds, using an iPhone (3GS and above), to their Wells Fargo commercial and corporate bank accounts anywhere, anytime."
Visa Europe acquires 8.8% stake in mobile banking and payments platform Monitise
"UK-based mobile banking, payments, and commerce provider Monitise has received a £24.7m strategic investment from Visa Europe, the membership association comprising more than 4,000 European banks. Visa Europe operates independently from Visa Inc. since the latter's IPO in 2007.
Monitise offers white-label, platform-agnostic mobile money software and services to banks and financial institutions. Its partners include Visa Inc. in the US, RBS Technology Services in the UK and the US, Hong Kong bank-consortium JETCO, Visa International in India, and the Central Bank of Nigeria, which recently granted Monitise a license to provide mobile payments platforms to banks."
Natwest 'glitch' downs phone and internet banking
"Natwest's phone, mobile and internet banking systems have been downed by an IT problem and account balances have not updated overnight. The system was due to undergo maintenance between 01:00am and 4:30am on Saturday morning, but a fault occurred and the systems are not accessible, Natwest press officer Michael Strachan told ZDNet UK on Saturday."
"On November 8, RBS Citizens will present a case study on its accessMOBILE(TM) smart phone banking app for commercial clients at the Financial Executives International meeting in Pittsburgh. During the presentation, Matt Richardson, head of Product Solutions U.S., GTS Americas, RBS Citizens, will discuss the development and launch of the application and the bottom-line results that both small- and mid-size organizations have realized since downloading."
Report Shows U.S. Mobile-Banking Use Is Up 45% Since End Of Year
"Use of mobile financial services rose sharply during the second quarter compared with the end of last year, according to comScore’s latest mobile banking adoption research. Some 32.5 million Americans accessed banking information using mobile devices during the quarter, representing 13.9% of all mobile-phone users, the survey found. Of that total, 12.7 million mobile subscribers used mobile banking applications, up 45% from the fourth quarter of 2010."
Wells Fargo CEO Mobile Deposit Service Makes Banking Easier for Commercial and Corporate Customers
"Wells Fargo & Company WFC +0.08% said today it has launched the CEO Mobile(R) Deposit service, designed specifically for commercial and corporate banking customers. The CEO Mobile Deposit service is accessible by downloading the CEO Mobile iPhone App at the iTunes store. The new service allows customers to capture check and money order images and deposit funds, using an iPhone (3GS and above), to their Wells Fargo commercial and corporate bank accounts anywhere, anytime."
Visa Europe acquires 8.8% stake in mobile banking and payments platform Monitise
"UK-based mobile banking, payments, and commerce provider Monitise has received a £24.7m strategic investment from Visa Europe, the membership association comprising more than 4,000 European banks. Visa Europe operates independently from Visa Inc. since the latter's IPO in 2007.
Monitise offers white-label, platform-agnostic mobile money software and services to banks and financial institutions. Its partners include Visa Inc. in the US, RBS Technology Services in the UK and the US, Hong Kong bank-consortium JETCO, Visa International in India, and the Central Bank of Nigeria, which recently granted Monitise a license to provide mobile payments platforms to banks."
Natwest 'glitch' downs phone and internet banking
"Natwest's phone, mobile and internet banking systems have been downed by an IT problem and account balances have not updated overnight. The system was due to undergo maintenance between 01:00am and 4:30am on Saturday morning, but a fault occurred and the systems are not accessible, Natwest press officer Michael Strachan told ZDNet UK on Saturday."
Thursday, September 15, 2011
Mobile Banking Updates - Sept 15
PNC banks on digital age
"Skott Dickerson likes his bank to have a lot of branches. But what he really loves is for it to have a killer app for his banking needs. 'Branches are still important. But online banking and mobile banking are definitely a priority of mine,' said Dickerson, 35, of Irwin. A Pittsburgh-area native, he chose PNC Bank for that reason when he moved back in January from Indianapolis.
Dickerson is the kind of customer PNC Financial Services Group Inc. hopes to snare when it marches into the Southeast for the first time next year: Those willing to jump to a new bank with their smartphones and laptops — not necessarily with their feet — into a branch."
Barcode readers and mobile e-invoices
"During summer I was toying around idea how mobile payments could be combined with barcode readers. Some of my friends have with their iPhone online banking app. They can scan new paper payments with camera and barcode. When scanning picture they upload document info to banking app and pay. It seems to work fine with them.
For this idea, I started to make idea, where one phone app could generate barcodes, send message to email-address or as sms to phone. Receiving party would get message, open his app and read barcode. This message would be then read by own banking app on phone and payment would be executed by phone. "
More and more, banking goes mobile
"AlixPartners LLP, the global business-advisory firm based in New York, last month announced a deal to buy Boston-based Mercatus LLC, a consulting firm that advises banks and investment firms. Globe reporter Todd Wallack spoke with Mercatus founder and managing partner Robert Hedges about the deal and trends in the industry."
RBS teams up with Monitise to deliver broad range of mobile banking services
"Monitise has signed a new partnership agreement with Royal Bank of Scotland (RBS) Technology Services to broaden mobile banking and payments services across its banking divisions.
Monitise has strengthened its existing relationship with RBS by entering a new five-year global strategic partnership. Under the terms of the new agreement, RBS will utilise Monitise’s industry leading and award-winning platform to provide innovative bank-grade and secure mobile apps and services to RBS customers."
Tyfone to Showcase Mobile Banking and Transaction Revenue Generating Mobile Wallet at Symitar Educational Conference
"Tyfone (www.tyfone.com), a mobile financial solutions provider, will be exhibiting at the Symitar Educational Conference (SEC) held in San Diego, Calif., September 20-22, 2011. Tyfone’s mobile banking solutions integrate seamlessly with the Symitar Episys core. Tyfone will be showcasing its secure mobile banking technology, its unique revenue generation Mobile Wallet Service called iCashé and introducing SideSafe – its Secure Mobile Authentication solution at the event."
Mitek Systems Brings Balance Transfer to Smartphones; Mobile Imaging Makes It As Easy As 'Point, Shoot and Transfer'
"Mitek Systems, Inc., the leader in mobile-imaging applications using smartphone cameras for check deposits, bill payments and ACH enrollments, today announced an innovative application for the financial services industry that enables consumers to switch bank credit card accounts as simply as 'Point, Shoot and Transfer."'
"Skott Dickerson likes his bank to have a lot of branches. But what he really loves is for it to have a killer app for his banking needs. 'Branches are still important. But online banking and mobile banking are definitely a priority of mine,' said Dickerson, 35, of Irwin. A Pittsburgh-area native, he chose PNC Bank for that reason when he moved back in January from Indianapolis.
Dickerson is the kind of customer PNC Financial Services Group Inc. hopes to snare when it marches into the Southeast for the first time next year: Those willing to jump to a new bank with their smartphones and laptops — not necessarily with their feet — into a branch."
Barcode readers and mobile e-invoices
"During summer I was toying around idea how mobile payments could be combined with barcode readers. Some of my friends have with their iPhone online banking app. They can scan new paper payments with camera and barcode. When scanning picture they upload document info to banking app and pay. It seems to work fine with them.
For this idea, I started to make idea, where one phone app could generate barcodes, send message to email-address or as sms to phone. Receiving party would get message, open his app and read barcode. This message would be then read by own banking app on phone and payment would be executed by phone. "
More and more, banking goes mobile
"AlixPartners LLP, the global business-advisory firm based in New York, last month announced a deal to buy Boston-based Mercatus LLC, a consulting firm that advises banks and investment firms. Globe reporter Todd Wallack spoke with Mercatus founder and managing partner Robert Hedges about the deal and trends in the industry."
RBS teams up with Monitise to deliver broad range of mobile banking services
"Monitise has signed a new partnership agreement with Royal Bank of Scotland (RBS) Technology Services to broaden mobile banking and payments services across its banking divisions.
Monitise has strengthened its existing relationship with RBS by entering a new five-year global strategic partnership. Under the terms of the new agreement, RBS will utilise Monitise’s industry leading and award-winning platform to provide innovative bank-grade and secure mobile apps and services to RBS customers."
Tyfone to Showcase Mobile Banking and Transaction Revenue Generating Mobile Wallet at Symitar Educational Conference
"Tyfone (www.tyfone.com), a mobile financial solutions provider, will be exhibiting at the Symitar Educational Conference (SEC) held in San Diego, Calif., September 20-22, 2011. Tyfone’s mobile banking solutions integrate seamlessly with the Symitar Episys core. Tyfone will be showcasing its secure mobile banking technology, its unique revenue generation Mobile Wallet Service called iCashé and introducing SideSafe – its Secure Mobile Authentication solution at the event."
Mitek Systems Brings Balance Transfer to Smartphones; Mobile Imaging Makes It As Easy As 'Point, Shoot and Transfer'
"Mitek Systems, Inc., the leader in mobile-imaging applications using smartphone cameras for check deposits, bill payments and ACH enrollments, today announced an innovative application for the financial services industry that enables consumers to switch bank credit card accounts as simply as 'Point, Shoot and Transfer."'
Thursday, June 23, 2011
Mobile Banking Updates - Jun 23
PNC takes next step in mobile banking for customers
"Imagine depositing a check into your bank account the moment you receive it? PNC Bank in late May unveiled a mobile banking feature that allows customers to conveniently deposit checks using an iPhone, iPod Touch or iPad 2. All customers need is a version of an iPhone with photographing capabilities and setting up a verification program with the bank."
Mobile Banking? Yeah. Consumers Hate It.
"Bankers love mobile banking. Consumers? Not so much. According to a recent study by the Boston branch of the Federal Reserve, over 65% of Americans use online banking websites to manage their accounts and pay bills.
But only 10% use smartphones and other mobile devices to do it. Not only that, people have been much slower to start mobile banking than they were to try banking online. For example, only three percent of survey respondents have ever made a payment using a mobile device."
10 Mistakes to Avoid in Mobile BI Delivery
"Mobile applications have gained a definitive place in enterprise adoption. The growing maturity and adoption for mobile business applications are predominantly visible with service offerings like mobile banking, mobile shopping and mobile social network connections.
The extended mobile business application for business intelligence (mobile BI) has gained momentum, with most of the BI tool vendors offering a mobile extension to the native BI suite itself. Furthermore, the variety of platform support, user-friendly devices and graphical interfaces has pushed enterprise adoption of mobile BI into the spotlight. In 2010, Gartner published a hype cycle indicating mobile BI is a climbing wave and stated that adoption will be visible in two to five years."
RBS Citizens Executive VP Jim Gifas to Speak on "Prospects for Corporate Mobile Banking" at the American Banker Mobile Banking and Emerging Applications Summit
"'Corporate mobile banking is a revolution in the making,' says Jim Gifas, Executive Vice President and Head of U.S. Global Transaction Services Solutions for RBS Citizens. 'By providing business customers with anywhere, anytime access to the financial functionality they need to run their businesses better and more efficiently, mobile banking technology is changing the way they can do business.'"
First Tennessee Rolls Out Browser-Based Mobile Banking for Businesses
"On Monday, Memphis-based First Tennessee bank ($25 billion in assets) will become one of the first regional banks to launch mobile banking services to corporate customers. “Because of the huge adoption of mobile transactions in the consumer market, and because consumers are the same people that run and own businesses, these same people who expect this in their personal life will want this flexibility in the businesses they own or participate in,” says Taylor Vaughan, director of treasury management services for First Tennessee, who spoke to us in an interview Friday. "
"Imagine depositing a check into your bank account the moment you receive it? PNC Bank in late May unveiled a mobile banking feature that allows customers to conveniently deposit checks using an iPhone, iPod Touch or iPad 2. All customers need is a version of an iPhone with photographing capabilities and setting up a verification program with the bank."
Mobile Banking? Yeah. Consumers Hate It.
"Bankers love mobile banking. Consumers? Not so much. According to a recent study by the Boston branch of the Federal Reserve, over 65% of Americans use online banking websites to manage their accounts and pay bills.
But only 10% use smartphones and other mobile devices to do it. Not only that, people have been much slower to start mobile banking than they were to try banking online. For example, only three percent of survey respondents have ever made a payment using a mobile device."
10 Mistakes to Avoid in Mobile BI Delivery
"Mobile applications have gained a definitive place in enterprise adoption. The growing maturity and adoption for mobile business applications are predominantly visible with service offerings like mobile banking, mobile shopping and mobile social network connections.
The extended mobile business application for business intelligence (mobile BI) has gained momentum, with most of the BI tool vendors offering a mobile extension to the native BI suite itself. Furthermore, the variety of platform support, user-friendly devices and graphical interfaces has pushed enterprise adoption of mobile BI into the spotlight. In 2010, Gartner published a hype cycle indicating mobile BI is a climbing wave and stated that adoption will be visible in two to five years."
RBS Citizens Executive VP Jim Gifas to Speak on "Prospects for Corporate Mobile Banking" at the American Banker Mobile Banking and Emerging Applications Summit
"'Corporate mobile banking is a revolution in the making,' says Jim Gifas, Executive Vice President and Head of U.S. Global Transaction Services Solutions for RBS Citizens. 'By providing business customers with anywhere, anytime access to the financial functionality they need to run their businesses better and more efficiently, mobile banking technology is changing the way they can do business.'"
First Tennessee Rolls Out Browser-Based Mobile Banking for Businesses
"On Monday, Memphis-based First Tennessee bank ($25 billion in assets) will become one of the first regional banks to launch mobile banking services to corporate customers. “Because of the huge adoption of mobile transactions in the consumer market, and because consumers are the same people that run and own businesses, these same people who expect this in their personal life will want this flexibility in the businesses they own or participate in,” says Taylor Vaughan, director of treasury management services for First Tennessee, who spoke to us in an interview Friday. "
Sunday, November 15, 2009
Mobile Banking Updates - Nov 15
Buddy, Can You E-Mail Me 100 Bucks?
"What if you could send money to that friend who loaned you $20 last week by using your mobile phone rather than having to go through the trouble of trekking to the ATM or mailing a check? All you'd need would be your buddy's e-mail address or cell number—and presto. Folks in Japan and Europe can already do that. Soon Americans will, too. Studies show that U.S. consumers, particularly the younger set, have embraced the convenience of online shopping and e-banking and are now ready to move to the next frontier: person-to-person mobile payments. A recent poll by Mercatus, a financial consulting firm, showed that the proportion of people ages 26 to 34 who had used a cell phone to buy goods or pay for a product or service had doubled, to 14%, in the past year."
ViVOtech Partners with Citi in Largest Global NFC Pilot
"ViVOtech has announced that its NFC mobile payment wallet, Over-the-Air (OTA) provisioning, smart posters, coupon delivery and redemption technologies have been successfully deployed in Citi Tap and Pay, a pilot service that brings to India next-generation contactless credit card payments based on this emerging technology. Launched in July in the city of Bengaluru in India, Citi Tap and Pay is one of the world's largest and most comprehensive NFC mobile payment pilots."
Misys Changes the e-Banking Game With ClairMail Mobile Banking Partnership
"Misys plc, the global application software and services company, today announces its new partnership with market-leading mobile banking and payments solution provider, ClairMail, significantly enhancing and extending its mobile banking solution, Misys Mobile. Through a close integration of both companies' solutions, and together with its online portal platform, Misys can now offer its customers a complete range of e-banking solutions including the latest mobile banking technologies appropriate for any customer segment. With the addition of ClairMail, Misys Mobile can now deliver SMS-based services, web-based mobile banking, and its unique SmartClient downloadable applications, all in its banking customers' own branding."
Banks hold key to mobile financial services in developed markets – Fundamo
"Banks, not mobile operators, are pivotal to the rollout and mainstream uptake of mobile financial services in developed markets like the U.K., according to mobile banking platform provider Fundamo. 'There is no technical reason why consumers in developed markets can't get mobile financial services. It is up to the banks,' said Aletha Ling, chief business development officer and executive director at Fundamo. 'It will only take one bank to do it, and do it well, for it to be successful,' she commented to Total Telecom in London on Tuesday."
Nokia Money to go commercial in Q1 2010
"Nokia's mobile banking and payment service is expected to be commercially available in its first market in Q1 2010, although the Finnish handset manufacturer is unable to divulge any details about the location as yet. According to Teppo Paavola, vice president, general manager of mobile financial services, Nokia cannot talk about the service until it has fully confirmed details about which bank it will partner with in any market: the service requires a banking licence before it can be launched."
RBS launches Mobile Banking App
"WORRIED that beleaguered RBS bankers might lose your money and go cap in hand looking for another taxpayer funded government bail out? Well now there’s an App for that. Part state-owned RBS has now launched an iPhone App to allow customers to keep an eye on their finances – just months after announcing the biggest banking loss in British history."
NatWest launches m-banking iPhone app
"he app allows customers to check their account balances, recent transactions and manage their money on the move using iPhone. The new app is one of a number of helpful initiatives the Bank is developing to bring customers closer to their finances on a 24/7 basis. Today's launch re-enforces NatWest's commitment to offer our customers more advanced mobile banking services. Recent research showed that consumers are interested in more sophisticated mobile banking facilities, with a quarter being interested in money transfers between bank accounts, a further quarter being interested in receiving fraud alerts and 24% said they would like to pay in cheques without visiting a branch."
A Battle for Deposits Helps Fuel Bank Interest in P2P Payments
"Mercantile Bank of Michigan has an answer for observers who want to know why financial institutions are starting to show an interest in person-to-person payments. It comes down to competition for deposits, says John Schulte, senior vice president and chief information officer at the bank, which will introduce a commercial service in the first quarter that will let customers with smart phones transfer funds to other individuals."
Kony Mobile Finance Now Available for Banks and Credit Unions
"What if you could send money to that friend who loaned you $20 last week by using your mobile phone rather than having to go through the trouble of trekking to the ATM or mailing a check? All you'd need would be your buddy's e-mail address or cell number—and presto. Folks in Japan and Europe can already do that. Soon Americans will, too. Studies show that U.S. consumers, particularly the younger set, have embraced the convenience of online shopping and e-banking and are now ready to move to the next frontier: person-to-person mobile payments. A recent poll by Mercatus, a financial consulting firm, showed that the proportion of people ages 26 to 34 who had used a cell phone to buy goods or pay for a product or service had doubled, to 14%, in the past year."
ViVOtech Partners with Citi in Largest Global NFC Pilot
"ViVOtech has announced that its NFC mobile payment wallet, Over-the-Air (OTA) provisioning, smart posters, coupon delivery and redemption technologies have been successfully deployed in Citi Tap and Pay, a pilot service that brings to India next-generation contactless credit card payments based on this emerging technology. Launched in July in the city of Bengaluru in India, Citi Tap and Pay is one of the world's largest and most comprehensive NFC mobile payment pilots."
Misys Changes the e-Banking Game With ClairMail Mobile Banking Partnership
"Misys plc, the global application software and services company, today announces its new partnership with market-leading mobile banking and payments solution provider, ClairMail, significantly enhancing and extending its mobile banking solution, Misys Mobile. Through a close integration of both companies' solutions, and together with its online portal platform, Misys can now offer its customers a complete range of e-banking solutions including the latest mobile banking technologies appropriate for any customer segment. With the addition of ClairMail, Misys Mobile can now deliver SMS-based services, web-based mobile banking, and its unique SmartClient downloadable applications, all in its banking customers' own branding."
Banks hold key to mobile financial services in developed markets – Fundamo
"Banks, not mobile operators, are pivotal to the rollout and mainstream uptake of mobile financial services in developed markets like the U.K., according to mobile banking platform provider Fundamo. 'There is no technical reason why consumers in developed markets can't get mobile financial services. It is up to the banks,' said Aletha Ling, chief business development officer and executive director at Fundamo. 'It will only take one bank to do it, and do it well, for it to be successful,' she commented to Total Telecom in London on Tuesday."
Nokia Money to go commercial in Q1 2010
"Nokia's mobile banking and payment service is expected to be commercially available in its first market in Q1 2010, although the Finnish handset manufacturer is unable to divulge any details about the location as yet. According to Teppo Paavola, vice president, general manager of mobile financial services, Nokia cannot talk about the service until it has fully confirmed details about which bank it will partner with in any market: the service requires a banking licence before it can be launched."
RBS launches Mobile Banking App
"WORRIED that beleaguered RBS bankers might lose your money and go cap in hand looking for another taxpayer funded government bail out? Well now there’s an App for that. Part state-owned RBS has now launched an iPhone App to allow customers to keep an eye on their finances – just months after announcing the biggest banking loss in British history."
NatWest launches m-banking iPhone app
"he app allows customers to check their account balances, recent transactions and manage their money on the move using iPhone. The new app is one of a number of helpful initiatives the Bank is developing to bring customers closer to their finances on a 24/7 basis. Today's launch re-enforces NatWest's commitment to offer our customers more advanced mobile banking services. Recent research showed that consumers are interested in more sophisticated mobile banking facilities, with a quarter being interested in money transfers between bank accounts, a further quarter being interested in receiving fraud alerts and 24% said they would like to pay in cheques without visiting a branch."
A Battle for Deposits Helps Fuel Bank Interest in P2P Payments
"Mercantile Bank of Michigan has an answer for observers who want to know why financial institutions are starting to show an interest in person-to-person payments. It comes down to competition for deposits, says John Schulte, senior vice president and chief information officer at the bank, which will introduce a commercial service in the first quarter that will let customers with smart phones transfer funds to other individuals."
Kony Mobile Finance Now Available for Banks and Credit Unions
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