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."
Showing posts with label Sybase. Show all posts
Showing posts with label Sybase. Show all posts
Monday, June 25, 2012
Wednesday, August 11, 2010
Mobile Banking Updates - Aug 11
How to Protect Your Smartphone's Valuable Data
"So you just lost your smartphone. It isn't the end of the world, but it sure feels like it. In addition to the specter of shelling out another couple hundred dollars to replace the hardware, you're facing the loss of all your contacts, your schedule, your to-do lists, your passwords (if you really weren't careful and stored them on the phone), and, oh yeah, the dicey photos you took at the bar last Friday.
All of that is gone, at least for the moment, but if your Apple iPhone, Google Android phone, RIM BlackBerry, or any other smartphone falls into the wrong hands, that vast archive of your personal information won't just be forgotten--it could be cashed in."
App Surge and Smartphone Growth Set Stage for Mobile Banking Uptick
"While an estimated 90% of U.S. consumers use mobile phones, far fewer use them for banking. In fact, a Gartner report released in June said that out of the group studied, only 15% had used mobile banking in the past month. This adoption rate might seem small compared to the overall use of smartphones and other mobile devices and in light of the buzz the channel has generated. However, industry participants say the potential is there."
M-Com Announces World First Plug-And-Play SaaS Platform For Mobile Banking, Alerting And Payments
"International mobile banking solution provider, M-Com, announced today the launch of a complete ‘Software as a Service’ (SaaS) version of its globally deployed mobile banking and payment platform – BankAnywhere. The new product has been labeled BankAnywhere ASP Edition.
'Having run ASP and multi-tenant mobile financial services since 2006, we have been focused on trying to create a full and complete ASP version of our award-winning product – BankAnywhere,' states M-Com CEO and Founder, Adam Clark. 'The team has worked very hard and the initiative has given our coffee machine a solid workout, but I can categorically say that M-Com now has the best mobile software-as-a-service platform in the world for banks and payment processors.'"
Apple's iOS Security Challenges and Opportunities
"One of the most controversial debates in the security world has long been the role of market share. Are Macs safer because there are fewer users, making them less attractive to serious cyber-criminals? Although Mac market share continues to increase slowly, the answer remains elusive. But it's more likely that we'll see the answer in our pockets, not on our desktops."
Sybase 365 Innovation Ensures Fastest Deployment, Increased Functionality and Widest Device Support for Retail and Corporate Banks
"Sybase 365, a subsidiary of Sybase, Inc., the global leader in mobile messaging and mobile commerce services, today announced the expansion of its mobile commerce offering with version 3.0 of Sybase(R) mBanking 365(R) -- the recognised market leading and award winning mobile banking platform. The latest offering significantly enhances functionalities and simplifies the deployment process, enabling financial institutions to more quickly create a richer mobile banking experience and increase customer satisfaction."
Banking on M-banking
"More than half our population lives in rural and semi-urban areas and falls in the category of 'unbanked and under-banked' people. These people are mostly financially excluded, leading insecure lives, without any access to basic banking services. The central government and the Reserve Bank of India have therefore been promoting the idea of 'Financial Inclusion' (FI) for large segments of our population through the use of IT-based, e-governance initiatives since a few years now."
"So you just lost your smartphone. It isn't the end of the world, but it sure feels like it. In addition to the specter of shelling out another couple hundred dollars to replace the hardware, you're facing the loss of all your contacts, your schedule, your to-do lists, your passwords (if you really weren't careful and stored them on the phone), and, oh yeah, the dicey photos you took at the bar last Friday.
All of that is gone, at least for the moment, but if your Apple iPhone, Google Android phone, RIM BlackBerry, or any other smartphone falls into the wrong hands, that vast archive of your personal information won't just be forgotten--it could be cashed in."
App Surge and Smartphone Growth Set Stage for Mobile Banking Uptick
"While an estimated 90% of U.S. consumers use mobile phones, far fewer use them for banking. In fact, a Gartner report released in June said that out of the group studied, only 15% had used mobile banking in the past month. This adoption rate might seem small compared to the overall use of smartphones and other mobile devices and in light of the buzz the channel has generated. However, industry participants say the potential is there."
M-Com Announces World First Plug-And-Play SaaS Platform For Mobile Banking, Alerting And Payments
"International mobile banking solution provider, M-Com, announced today the launch of a complete ‘Software as a Service’ (SaaS) version of its globally deployed mobile banking and payment platform – BankAnywhere. The new product has been labeled BankAnywhere ASP Edition.
'Having run ASP and multi-tenant mobile financial services since 2006, we have been focused on trying to create a full and complete ASP version of our award-winning product – BankAnywhere,' states M-Com CEO and Founder, Adam Clark. 'The team has worked very hard and the initiative has given our coffee machine a solid workout, but I can categorically say that M-Com now has the best mobile software-as-a-service platform in the world for banks and payment processors.'"
Apple's iOS Security Challenges and Opportunities
"One of the most controversial debates in the security world has long been the role of market share. Are Macs safer because there are fewer users, making them less attractive to serious cyber-criminals? Although Mac market share continues to increase slowly, the answer remains elusive. But it's more likely that we'll see the answer in our pockets, not on our desktops."
Sybase 365 Innovation Ensures Fastest Deployment, Increased Functionality and Widest Device Support for Retail and Corporate Banks
"Sybase 365, a subsidiary of Sybase, Inc., the global leader in mobile messaging and mobile commerce services, today announced the expansion of its mobile commerce offering with version 3.0 of Sybase(R) mBanking 365(R) -- the recognised market leading and award winning mobile banking platform. The latest offering significantly enhances functionalities and simplifies the deployment process, enabling financial institutions to more quickly create a richer mobile banking experience and increase customer satisfaction."
Banking on M-banking
"More than half our population lives in rural and semi-urban areas and falls in the category of 'unbanked and under-banked' people. These people are mostly financially excluded, leading insecure lives, without any access to basic banking services. The central government and the Reserve Bank of India have therefore been promoting the idea of 'Financial Inclusion' (FI) for large segments of our population through the use of IT-based, e-governance initiatives since a few years now."
Sunday, June 27, 2010
Mobile Banking Updates - Jun 27
Delta Community Credit Union - Mobile Banking
"We're excited to introduce our Mobile Banking service. You'll now enjoy safe and convenient account access directly from your mobile phone. Like our Online Banking service, Mobile Banking is free* and available to all credit union members. Whether you're traveling, out and about running errands, at work or at home, Mobile Banking can be used at anytime from just about anywhere."
Wells Fargo’s new mobile-focused online site
"Our new RA Aleia sent over a quick summary of Well’s new online marketing for their mobile capabilities. Because this included mention of their new Palm Pre app it even includes features for contrarians (according to Wired magazine) like yours truly (there are just 5% of us special people, you know). Seriously, what follows is an informal and brief preview of in-depth analysis we’re about to begin for our upcoming mobile banking scorecard (comparison of bank and CU mobile offerings), which will build on our newest report that compares vendor’s mobile banking offerings."
US lags in mobile commerce despite strong consumer demand: Sybase
"The United States is lagging behind the rest of the world when it comes to mobile usage, including mobile commerce, according to a study by mobile messaging and mobile commerce services provider Sybase 365.
Looking at modern mobile services, the U.S. finished near the bottom of the pack for ability to access information, use of mobile commerce, and use of mobile communications, with an average of 12.9 percent of U.S. respondents making use of today’s services, just edging out Canada (11.9 percent of users) and Australia (12.1 percent of users). By contrast, mobile users in China are almost four times as likely to make use of the same services (49.2 percent), pointing to a highly mobilized culture."
Barclays adds enhancements to its mobile banking service
"To celebrate the first anniversary of Barclays.mobi service, Barclays provides a series of further enhancements to its UKs mobile phone banking service. The service is said to attract more than four million hits a month.
The updated service now includes:
* Currency conversion calculator as the summer holiday season kicks off
* 'At a glance' balance screen has been updated for easier customer views
* Introduced 'tappable' bars to support finger friendly principles for mobile phones
* Bookmarks feature - customers can save the mobi link to support access and navigation; IPhone users can also save the link as a Barclays icon 'lozenge'
* Introduced a mobile business site specifically for business customers."
"We're excited to introduce our Mobile Banking service. You'll now enjoy safe and convenient account access directly from your mobile phone. Like our Online Banking service, Mobile Banking is free* and available to all credit union members. Whether you're traveling, out and about running errands, at work or at home, Mobile Banking can be used at anytime from just about anywhere."
Wells Fargo’s new mobile-focused online site
"Our new RA Aleia sent over a quick summary of Well’s new online marketing for their mobile capabilities. Because this included mention of their new Palm Pre app it even includes features for contrarians (according to Wired magazine) like yours truly (there are just 5% of us special people, you know). Seriously, what follows is an informal and brief preview of in-depth analysis we’re about to begin for our upcoming mobile banking scorecard (comparison of bank and CU mobile offerings), which will build on our newest report that compares vendor’s mobile banking offerings."
US lags in mobile commerce despite strong consumer demand: Sybase
"The United States is lagging behind the rest of the world when it comes to mobile usage, including mobile commerce, according to a study by mobile messaging and mobile commerce services provider Sybase 365.
Looking at modern mobile services, the U.S. finished near the bottom of the pack for ability to access information, use of mobile commerce, and use of mobile communications, with an average of 12.9 percent of U.S. respondents making use of today’s services, just edging out Canada (11.9 percent of users) and Australia (12.1 percent of users). By contrast, mobile users in China are almost four times as likely to make use of the same services (49.2 percent), pointing to a highly mobilized culture."
Barclays adds enhancements to its mobile banking service
"To celebrate the first anniversary of Barclays.mobi service, Barclays provides a series of further enhancements to its UKs mobile phone banking service. The service is said to attract more than four million hits a month.
The updated service now includes:
* Currency conversion calculator as the summer holiday season kicks off
* 'At a glance' balance screen has been updated for easier customer views
* Introduced 'tappable' bars to support finger friendly principles for mobile phones
* Bookmarks feature - customers can save the mobi link to support access and navigation; IPhone users can also save the link as a Barclays icon 'lozenge'
* Introduced a mobile business site specifically for business customers."
Sunday, June 13, 2010
Mobile Banking Updates - Jun 13
Why Android Is Attractive for Alt-Payment Companies
"A growing number of mobile payments companies are promoting systems that charge purchases to users' phone bills rather than credit or debit cards. Since Apple Inc.'s tight control of the iPhone precludes this approach, the payments firms are gravitating to Google Inc.'s Android — which itself is emerging as the handset of choice for the consumers most likely to use their phones for banking and financial activities.
On Wednesday, Zong Inc. and Boku Inc. each introduced tools that let software developers weave their payments systems into applications for Android phones. These systems could be used, for example, by a video game developer to sell additional levels to someone who has downloaded a game that was given away for free."
Is mobile banking growing or not? The answer is yes.
"For statisticians (or accountants) that like to manipulate numbers, the mixed success of mobile banking is a field of dreams. If I want the appear to be rosy Javelin has many fresh quantitative stats to pull from:
* Rising m-banking use among advanced platforms (Android and iPhone!)
* Strong ROI metrics such as impact on new-customer turnover and fraud
* High interest among desirable or emerging demographic populations"
Sybase 365 Expands Global Mobile Banking Portfolio With Ixe Bank Partnership
"Sybase 365, a subsidiary of Sybase, Inc., the global leader in mobile messaging and mobile commerce services, today announced its partnership with Ixe Bank, one of Mexico's leading financial institutions, to launch 'Ixe Net Movil', the Bank's new multi-channel mBanking service.
'In working with Sybase 365, Ixe Bank can now enable a wide range of SMS, mobile browser and rich client banking applications, allowing our customers to decide when and where they want to bank,' said Enrique Perezalonso, Director of Marketing and New Product Development for Ixe Bank. 'Offering our customers outstanding service is a core part of our mission, and with Sybase 365 as a trusted partner we are now able to take our banking service directly to our customers.'"
Gates backs cell phone banking for Haiti
"The massive earthquake in Haiti in January destroyed a third or more of the country's banks and ATMs, but even before the quake fewer than 1 in 10 Haitians had ever used a traditional bank.
Aiming to broaden access to financial institutions and aid in the recovery, the Gates Foundation and the U.S. Agency for International Development announced Tuesday a plan to back up to $10 million in funding to spur the use of cell phone banking, an approach that has worked elsewhere to bring financing to the poor."
"A growing number of mobile payments companies are promoting systems that charge purchases to users' phone bills rather than credit or debit cards. Since Apple Inc.'s tight control of the iPhone precludes this approach, the payments firms are gravitating to Google Inc.'s Android — which itself is emerging as the handset of choice for the consumers most likely to use their phones for banking and financial activities.
On Wednesday, Zong Inc. and Boku Inc. each introduced tools that let software developers weave their payments systems into applications for Android phones. These systems could be used, for example, by a video game developer to sell additional levels to someone who has downloaded a game that was given away for free."
Is mobile banking growing or not? The answer is yes.
"For statisticians (or accountants) that like to manipulate numbers, the mixed success of mobile banking is a field of dreams. If I want the appear to be rosy Javelin has many fresh quantitative stats to pull from:
* Rising m-banking use among advanced platforms (Android and iPhone!)
* Strong ROI metrics such as impact on new-customer turnover and fraud
* High interest among desirable or emerging demographic populations"
Sybase 365 Expands Global Mobile Banking Portfolio With Ixe Bank Partnership
"Sybase 365, a subsidiary of Sybase, Inc., the global leader in mobile messaging and mobile commerce services, today announced its partnership with Ixe Bank, one of Mexico's leading financial institutions, to launch 'Ixe Net Movil', the Bank's new multi-channel mBanking service.
'In working with Sybase 365, Ixe Bank can now enable a wide range of SMS, mobile browser and rich client banking applications, allowing our customers to decide when and where they want to bank,' said Enrique Perezalonso, Director of Marketing and New Product Development for Ixe Bank. 'Offering our customers outstanding service is a core part of our mission, and with Sybase 365 as a trusted partner we are now able to take our banking service directly to our customers.'"
Gates backs cell phone banking for Haiti
"The massive earthquake in Haiti in January destroyed a third or more of the country's banks and ATMs, but even before the quake fewer than 1 in 10 Haitians had ever used a traditional bank.
Aiming to broaden access to financial institutions and aid in the recovery, the Gates Foundation and the U.S. Agency for International Development announced Tuesday a plan to back up to $10 million in funding to spur the use of cell phone banking, an approach that has worked elsewhere to bring financing to the poor."
Sunday, September 20, 2009
Summary of Interviews with Mobile Banking Vendors
It's official, I have now published the notes from all 8 of my mobile banking interviews. If you missed the beginning of the series and you're unsure what I'm referring to...please continue reading.
In July, to assist you with 2010 planning, I interviewed the CEO of nearly every mobile banking vendor in the U.S., and asked them a series of questions related to: pricing, ROI, security, adoption, the future of mobile banking and the iPhone. Then, during August and early September I began publishing the information.
CEOs of Mobile Banking
Scott Moeller (MShift)
Adam Clark (MCOM)
Pete Daffern (Clairmail)
Steve Kietz (MMV)
Tripp Rackley (Firethorn)
Lisa Stanton (Monitise)
Drew Sievers (mFoundry)
Cameron Franks (Sybase)
In July, to assist you with 2010 planning, I interviewed the CEO of nearly every mobile banking vendor in the U.S., and asked them a series of questions related to: pricing, ROI, security, adoption, the future of mobile banking and the iPhone. Then, during August and early September I began publishing the information.
CEOs of Mobile Banking
Scott Moeller (MShift)
Adam Clark (MCOM)
Pete Daffern (Clairmail)
Steve Kietz (MMV)
Tripp Rackley (Firethorn)
Lisa Stanton (Monitise)
Drew Sievers (mFoundry)
Cameron Franks (Sybase)
Tuesday, September 15, 2009
Mobile Banking Updates - Sept 15
Wachovia introduces its Mobile CyberInquiry service
"Wachovia presented its Mobile CyberInquiry service to its correspondent banking customers, providing mobile access to their account information at the 2009 SIBOS conference in Hong Kong in a move to expand its business. So, from now, global financial institutions are enabled to view real time balances, account postings and transaction details with mobile devices."
Arvest Bank $5,000 Giveaway
"Arvest Bank is hosting a $5,000 Giveaway when you sign up and use their mobile banking feature. This promotion is only available to current customers who are at least 18 years of age. If you are in Arkansas, Oklahoma, Southeast Kansas and Southern Missouri and you bank with Arvest Bank, then you should most definitely give this a shot. What have you got to lose anyway?"
Sybase And IBM Collaborate To Further Global Mobile Commerce Opportunities
"As mCommerce moves beyond early adopters, IBM’s global reach, strong client relationships and deep industry expertise, coupled with Sybase’s leading end-to-end mCommerce solution and unrivalled global operator reach and Financial Services customer base, the companies will be able to provide flexibility and choice of mobile banking, mobile payment and mobile remittance offerings to an increasing number of customers."
Fiserv opens Asia Pacific support centre for m and e-banking services
"ocated in Singapore at the company's regional headquarters, the centre will deliver local implementation and support expertise, complementing similar services already available at Fiserv locations in India and Australia. Fiserv online and mobile banking solutions are currently used by some of the largest and most innovative banks in Malaysia, Thailand and Australia. The new regional support centre will provide greater access to these and other Fiserv solutions and will provide local support to more financial institutions in the region."
"Wachovia presented its Mobile CyberInquiry service to its correspondent banking customers, providing mobile access to their account information at the 2009 SIBOS conference in Hong Kong in a move to expand its business. So, from now, global financial institutions are enabled to view real time balances, account postings and transaction details with mobile devices."
Arvest Bank $5,000 Giveaway
"Arvest Bank is hosting a $5,000 Giveaway when you sign up and use their mobile banking feature. This promotion is only available to current customers who are at least 18 years of age. If you are in Arkansas, Oklahoma, Southeast Kansas and Southern Missouri and you bank with Arvest Bank, then you should most definitely give this a shot. What have you got to lose anyway?"
Sybase And IBM Collaborate To Further Global Mobile Commerce Opportunities
"As mCommerce moves beyond early adopters, IBM’s global reach, strong client relationships and deep industry expertise, coupled with Sybase’s leading end-to-end mCommerce solution and unrivalled global operator reach and Financial Services customer base, the companies will be able to provide flexibility and choice of mobile banking, mobile payment and mobile remittance offerings to an increasing number of customers."
Fiserv opens Asia Pacific support centre for m and e-banking services
"ocated in Singapore at the company's regional headquarters, the centre will deliver local implementation and support expertise, complementing similar services already available at Fiserv locations in India and Australia. Fiserv online and mobile banking solutions are currently used by some of the largest and most innovative banks in Malaysia, Thailand and Australia. The new regional support centre will provide greater access to these and other Fiserv solutions and will provide local support to more financial institutions in the region."
Tuesday, September 8, 2009
Mobile Banking Discussion with Cameron Franks of Sybase
Today I'm excited to publish the notes from my interview with Cameron Franks - Director, mCommerce - Sybase 365. Click to learn more about Cameron.
Q: What’s your differentiator? What sets your mobile banking solution apart from the competition?
A: Sybase is an aggregator; plus, we provide software for banking and payments. Sybase is the only vendor that provides both.
Q: Who are your key clients?
A: Compass Bank (iPhone app and SMS alerts), Citizens Bank (Business Mobile Banking), Citi Bank (Messaging and Intelligent Services), IXE (WAP, SMS and Application). In addition, we have PayPal, Mastercard and Western Union utilizing our messaging services.
Q: Who are you key partners?
A: Within the Sybase family we work closely with Financial Fusion. Externally, we partner with IBM and Western Union.
Q: Budget season is just around the corner, and the #1 question bankers want to ask is – What’s it going to cost me?
A: Sybase offers two approaches:
1) Purchase the License Up Front. Depending upon the size of the institution and options selected this will cost approximately $300-$500k.
2) Pay Monthly. The cost of this model is based upon the options selected and the number of active monthly users. For example: An FI with a small number of users could expect to pay roughly $50,000 per year.
Additionally, we’re developing a third model for small banks. This will be a streamlined version that is hosted by Sybase and will be less expensive – more details coming soon.
Q: What components of your ROI model have begun to materialize?
A: A reduction in calls to the call center has materialized. Clients are choosing to use mobile banking instead of calling.
Also, more banks are using their mobile banking service as an acquisition tool and a retention tool. Banks are using the image of the iPhone in their advertising to draw the attention of prospects.
Q: What’s your highest client adoption %
A: It’s reasonable to expect 5% adoption of online banking users within 6 months.
Q: What do the demographics of your users look like?
A: The clients using WAP and applications are almost exclusively high-end smart phone users within the Gen X and Boomer demographics. However, we are starting to see lower-end smart phones being used by the Gen Y segment. SMS is very interesting because we’re seeing usage from Gen Y, Gen X, Boomers, and even some Seniors.
Q: What do the usage patterns look like? Balance, History, Transfers, BP, Locator?
A: The majority of users are focused on checking their balance. Some clients are reviewing their pending transactions and transferring funds, but we’re not seeing a lot of bill payment activity. Account alerts will be the catalyst that will drive adoption of bill payment and advanced functions.
Q: What security elements are incorporated into your application?
A: The key is to make sure that layers of security are appropriate for the service. The Sybase platform is channel aware and can allow the institution to dictate what’s required to complete the transaction.
For example: Requesting a balance can be performed via SMS and there’s really no need for additional security. Yet, for transferring funds via SMS the institution may wish to require an additional layer of security.
Q: How likely are biometrics to become a component?
A: Biometric security is a long way off because the devices don’t have the necessary hardware.
Q: How has the iPhone changed your approach to the business?
A: A couple of years ago people were trying to figure out how to get their application on every phone and which carriers to work with. The iPhone and App store took care of this question; plus, removed many of the banks’ customer service concerns.
Q: What has been your biggest surprise/lesson-learned over the last couple of years?
A: Marketing of the mobile banking service is very important. In the UK nearly half of financial institutions now have their SMS short code on billboards and general advertising.
Q: What big industry development should we expect within the next 12 months?
A: The two main developments we anticipate are:
1) More effective P2P solutions. In many other countries it’s easy to move money online between banks. This is an untapped market in the US and is a great opportunity.
2) Mobile Coupons. We need to resolve questions around opt-in, privacy, and enrollment but there’s great potential.
Q: What can banks do a better job of to facilitate adoption?
A: Banks need to focus on creating services that make sense while you’re mobile. Alerts for example add incremental value. These types of services will drive uptake.
Q: What’s your differentiator? What sets your mobile banking solution apart from the competition?
A: Sybase is an aggregator; plus, we provide software for banking and payments. Sybase is the only vendor that provides both.
Q: Who are your key clients?
A: Compass Bank (iPhone app and SMS alerts), Citizens Bank (Business Mobile Banking), Citi Bank (Messaging and Intelligent Services), IXE (WAP, SMS and Application). In addition, we have PayPal, Mastercard and Western Union utilizing our messaging services.
Q: Who are you key partners?
A: Within the Sybase family we work closely with Financial Fusion. Externally, we partner with IBM and Western Union.
Q: Budget season is just around the corner, and the #1 question bankers want to ask is – What’s it going to cost me?
A: Sybase offers two approaches:
1) Purchase the License Up Front. Depending upon the size of the institution and options selected this will cost approximately $300-$500k.
2) Pay Monthly. The cost of this model is based upon the options selected and the number of active monthly users. For example: An FI with a small number of users could expect to pay roughly $50,000 per year.
Additionally, we’re developing a third model for small banks. This will be a streamlined version that is hosted by Sybase and will be less expensive – more details coming soon.
Q: What components of your ROI model have begun to materialize?
A: A reduction in calls to the call center has materialized. Clients are choosing to use mobile banking instead of calling.
Also, more banks are using their mobile banking service as an acquisition tool and a retention tool. Banks are using the image of the iPhone in their advertising to draw the attention of prospects.
Q: What’s your highest client adoption %
A: It’s reasonable to expect 5% adoption of online banking users within 6 months.
Q: What do the demographics of your users look like?
A: The clients using WAP and applications are almost exclusively high-end smart phone users within the Gen X and Boomer demographics. However, we are starting to see lower-end smart phones being used by the Gen Y segment. SMS is very interesting because we’re seeing usage from Gen Y, Gen X, Boomers, and even some Seniors.
Q: What do the usage patterns look like? Balance, History, Transfers, BP, Locator?
A: The majority of users are focused on checking their balance. Some clients are reviewing their pending transactions and transferring funds, but we’re not seeing a lot of bill payment activity. Account alerts will be the catalyst that will drive adoption of bill payment and advanced functions.
Q: What security elements are incorporated into your application?
A: The key is to make sure that layers of security are appropriate for the service. The Sybase platform is channel aware and can allow the institution to dictate what’s required to complete the transaction.
For example: Requesting a balance can be performed via SMS and there’s really no need for additional security. Yet, for transferring funds via SMS the institution may wish to require an additional layer of security.
Q: How likely are biometrics to become a component?
A: Biometric security is a long way off because the devices don’t have the necessary hardware.
Q: How has the iPhone changed your approach to the business?
A: A couple of years ago people were trying to figure out how to get their application on every phone and which carriers to work with. The iPhone and App store took care of this question; plus, removed many of the banks’ customer service concerns.
Q: What has been your biggest surprise/lesson-learned over the last couple of years?
A: Marketing of the mobile banking service is very important. In the UK nearly half of financial institutions now have their SMS short code on billboards and general advertising.
Q: What big industry development should we expect within the next 12 months?
A: The two main developments we anticipate are:
1) More effective P2P solutions. In many other countries it’s easy to move money online between banks. This is an untapped market in the US and is a great opportunity.
2) Mobile Coupons. We need to resolve questions around opt-in, privacy, and enrollment but there’s great potential.
Q: What can banks do a better job of to facilitate adoption?
A: Banks need to focus on creating services that make sense while you’re mobile. Alerts for example add incremental value. These types of services will drive uptake.
Sunday, August 23, 2009
Interviews with Mobile Banking Vendors
I'm proud to announce that the Mobile Banking blog is now half way through the interviews with the top U.S. mobile banking vendors. Here's a recap in case you missed one of the articles:
Scott Moeller - MShift
Adam Clark - MCOM
Pete Daffern - Clairmail
Steve Kietz - Mobile Money Ventures (MMV)
And don't forget to check back over the next few weeks as the Mobile Banking blog will be publishing the interviews with Firethorn, Monitise, mFoundry and Sybase.
Scott Moeller - MShift
Adam Clark - MCOM
Pete Daffern - Clairmail
Steve Kietz - Mobile Money Ventures (MMV)
And don't forget to check back over the next few weeks as the Mobile Banking blog will be publishing the interviews with Firethorn, Monitise, mFoundry and Sybase.
Tuesday, August 4, 2009
Budgeting for Mobile Banking?
We are on the cusp of the 2010 budget season, and I decided to launch an initiative to make your lives a little easier. Starting tomorrow I'll begin publishing my notes from interviews that I've conducted over the last month with presidents, CEOs and directors of the largest mobile banking vendors in the U.S. During the interviews I asked questions related to: pricing, ROI, security, adoption, platform differentiators, key clients, key partners, demographics, usage, the future of mobile banking and the iPhone. To be fair I'll publish my notes in the order in which the interviews were performed:
1) Scott Moeller - MShift
2) Adam Clark - MCOM
3) Pete Daffern - Clairmail
4) Steve Kietz - Mobile Money Ventures
5) Tripp Rackley - Firethorn
6) Lisa Stanton - Monitise
7) Drew Sievers - mFoundry
8) Cameron Franks - Sybase
Also, as you may have noticed over the last few months, the Mobile Banking Blog has been working hard to raise money for the St. Jude Childrens hospital; yet, our success has been limited a tough economy. Until now! Today, I'm proud to announce that a mobile banking vendor has offered to make a donation to the charity in exchange for the placement of a banner ad on the site and I've gladly said - YES. The St. Jude Children's Hospital is the premier research center for pediatric cancer, and St. Jude is the only center where "no child is ever denied treatment because of the family's inability to pay." >> Learn More
1) Scott Moeller - MShift
2) Adam Clark - MCOM
3) Pete Daffern - Clairmail
4) Steve Kietz - Mobile Money Ventures
5) Tripp Rackley - Firethorn
6) Lisa Stanton - Monitise
7) Drew Sievers - mFoundry
8) Cameron Franks - Sybase
Also, as you may have noticed over the last few months, the Mobile Banking Blog has been working hard to raise money for the St. Jude Childrens hospital; yet, our success has been limited a tough economy. Until now! Today, I'm proud to announce that a mobile banking vendor has offered to make a donation to the charity in exchange for the placement of a banner ad on the site and I've gladly said - YES. The St. Jude Children's Hospital is the premier research center for pediatric cancer, and St. Jude is the only center where "no child is ever denied treatment because of the family's inability to pay." >> Learn More
Monday, May 25, 2009
Mobile Banking Updates - May 25
Is USAA the second largest in mobile banking?
"Last week, USAA released astounding figures on its mobile banking usage: The 10-month-old service is already used by 11.4% -- about 800,000 -- of its 7 million members, making USAA one of the largest mobile banking providers in the country"
Some thoughts on Mastercard's P2P payment platform
"MasterCard recently announced the launch of a mobile-based service for P2P transactions. This is a great idea and makes a lot of sense. The concept is that you register your MasterCard for the service."
Sybase Ranked Tops by ABI Research
"The latest Vendor Matrix released by ABI Research, ranked Sybase at the top, according to Sybase officials. Digby and JiGrahak Mobility Solutions claimed the second and third spots in the company’s new worldwide evaluation of mobile commerce vendors using technologies other than Near Field Communications."
Kenya to enact laws regulating mobile phone banking
"Kenya is introducing several laws to strengthen its financial sector as new products such as mobile phone banking fill the market in the wake of technological advances, its finance minister said on Monday. The east African nation of 36 million people has only 6.3 million traditional branch-held bank accounts, leaving a gap that is being filled by telecom operators with mobile phone money transfer services."
Barclays revamps m-banking service
"The banking information presented to customers through their mobile phone now fits easily on their browser making it quicker for customers to view their account balance, statements at a glance, make transfers between accounts and make payments outside of the bank. In addition, they can find branches and ATMs, get answers to banking questions, view product offers and get support through the online banking helpdesk."
"Last week, USAA released astounding figures on its mobile banking usage: The 10-month-old service is already used by 11.4% -- about 800,000 -- of its 7 million members, making USAA one of the largest mobile banking providers in the country"
Some thoughts on Mastercard's P2P payment platform
"MasterCard recently announced the launch of a mobile-based service for P2P transactions. This is a great idea and makes a lot of sense. The concept is that you register your MasterCard for the service."
Sybase Ranked Tops by ABI Research
"The latest Vendor Matrix released by ABI Research, ranked Sybase at the top, according to Sybase officials. Digby and JiGrahak Mobility Solutions claimed the second and third spots in the company’s new worldwide evaluation of mobile commerce vendors using technologies other than Near Field Communications."
Kenya to enact laws regulating mobile phone banking
"Kenya is introducing several laws to strengthen its financial sector as new products such as mobile phone banking fill the market in the wake of technological advances, its finance minister said on Monday. The east African nation of 36 million people has only 6.3 million traditional branch-held bank accounts, leaving a gap that is being filled by telecom operators with mobile phone money transfer services."
Barclays revamps m-banking service
"The banking information presented to customers through their mobile phone now fits easily on their browser making it quicker for customers to view their account balance, statements at a glance, make transfers between accounts and make payments outside of the bank. In addition, they can find branches and ATMs, get answers to banking questions, view product offers and get support through the online banking helpdesk."
Wednesday, March 11, 2009
Mobile Banking Updates - March 11
Nokia Unveils Ovi Store, Application Sales To Debut In May
"At the Mobile Word Congress in Barcelona, Nokia has unveiled its initiative to try and repeat the runaway succes of Apple’s App Store with its own mobile storefront dubbed Ovi Store. This was an expected move as the rumors about the Finnish mobile juggernaut’s mobile applications store already spread last week; they were late confirmed to Reuters by industry sources."
BlackBerry maker to open new online store
"The store's Web site, poised to rival Apple Inc. (NASDAQ:AAPL)'s AppStore, is called BlackBerry App World. It replaces the company's previous online store, App Center, National Business Review reported Friday. The Web site promises a convenient location for BlackBerry owners to download 'games, social networks, personal productivity applications and so much more.'"
Sybase unveils SMS services for mobile location and advertising
"Sybase has announced two new mobile services based on SMS messaging, one for phone users to get turn-by-turn directions, another for vendors to insert ads or promotions at the bottom of the message blocks. Both offerings are based on the SMS platform of the company’s Sybase 365 subsidiary, which processes yearly over 2 billion SMS and MMS messages that pass between subscribers on different mobile carriers."
Orange and Barclaycard will launch mobile payment services
"Orange, currently the world’s ninth largest mobile carrier, today announced a strategic partnership with Barclaycard, the global credit provider owned by Barclays plc. The two companies will launch a series of mobile financial services in the UK, with the final purpose of 'revolutionizing the way people pay on the high street and web.'"
"At the Mobile Word Congress in Barcelona, Nokia has unveiled its initiative to try and repeat the runaway succes of Apple’s App Store with its own mobile storefront dubbed Ovi Store. This was an expected move as the rumors about the Finnish mobile juggernaut’s mobile applications store already spread last week; they were late confirmed to Reuters by industry sources."
BlackBerry maker to open new online store
"The store's Web site, poised to rival Apple Inc. (NASDAQ:AAPL)'s AppStore, is called BlackBerry App World. It replaces the company's previous online store, App Center, National Business Review reported Friday. The Web site promises a convenient location for BlackBerry owners to download 'games, social networks, personal productivity applications and so much more.'"
Sybase unveils SMS services for mobile location and advertising
"Sybase has announced two new mobile services based on SMS messaging, one for phone users to get turn-by-turn directions, another for vendors to insert ads or promotions at the bottom of the message blocks. Both offerings are based on the SMS platform of the company’s Sybase 365 subsidiary, which processes yearly over 2 billion SMS and MMS messages that pass between subscribers on different mobile carriers."
Orange and Barclaycard will launch mobile payment services
"Orange, currently the world’s ninth largest mobile carrier, today announced a strategic partnership with Barclaycard, the global credit provider owned by Barclays plc. The two companies will launch a series of mobile financial services in the UK, with the final purpose of 'revolutionizing the way people pay on the high street and web.'"
Sunday, January 25, 2009
Mobile Banking Updates - Jan 25
Viewpoint: Mobile Solution to Problem of Stagnant Growth
"So where do U.S. and global institutions go for growth? The Internet, via mobile technologies, will allow U.S. banks to make reasonable margins on unbanked consumers and will even allow them to reach out to global populations in ways previously unimagined."
Cellphones as Credit Cards? Americans Must Wait
"The technology exists, and, in fact, people in Japan have been using it for the last five years to pay for everything from train tickets to groceries to candy in vending machines. And in small-scale trials around the world, including in Atlanta, New York and the San Francisco Bay Area, nearly everyone has liked using this form of payment."
BlackBerry, iPhone Moves by Bank of America
"B of A claims 1.8 million active mobile banking customers."
100 Free iPhone Apps That Will Make You Smarter
"By now, you’ve hopefully realized that your iPhone is more than just a communication tool. This list of 100 free apps will prove to you that it’s also an outlet for learning other languages, playing games, discovering new music, being more productive at work, and a lot more."
Symbian Virus Targets Mobile Banking Service
"Anti-virus vendor, Kaspersky Lab says that it has detected a new malicious program capable of controlling a user’s mobile phone account. Last week, Kaspersky Lab experts detected the new malicious program for Symbian that targets customers of an Indonesian mobile phone operator."
Sybase buys payment firm for m-commerce push
"Sybase quietly acquired a mobile payments supplier last year, it has emerged today, paying an undisclosed sum for paybox Solutions of Germany."
"So where do U.S. and global institutions go for growth? The Internet, via mobile technologies, will allow U.S. banks to make reasonable margins on unbanked consumers and will even allow them to reach out to global populations in ways previously unimagined."
Cellphones as Credit Cards? Americans Must Wait
"The technology exists, and, in fact, people in Japan have been using it for the last five years to pay for everything from train tickets to groceries to candy in vending machines. And in small-scale trials around the world, including in Atlanta, New York and the San Francisco Bay Area, nearly everyone has liked using this form of payment."
BlackBerry, iPhone Moves by Bank of America
"B of A claims 1.8 million active mobile banking customers."
100 Free iPhone Apps That Will Make You Smarter
"By now, you’ve hopefully realized that your iPhone is more than just a communication tool. This list of 100 free apps will prove to you that it’s also an outlet for learning other languages, playing games, discovering new music, being more productive at work, and a lot more."
Symbian Virus Targets Mobile Banking Service
"Anti-virus vendor, Kaspersky Lab says that it has detected a new malicious program capable of controlling a user’s mobile phone account. Last week, Kaspersky Lab experts detected the new malicious program for Symbian that targets customers of an Indonesian mobile phone operator."
Sybase buys payment firm for m-commerce push
"Sybase quietly acquired a mobile payments supplier last year, it has emerged today, paying an undisclosed sum for paybox Solutions of Germany."
Thursday, January 15, 2009
Have a Plan for Text Banking?
If you're still unsure if text banking should be a part of your mobile solution check out these numbers:
* Verisign predicts..."a record of more than 1.4 billion mobile messages are expected to be delivered nationwide on Inauguration Day"
* Latest figures in the UK - 17.7 billion SMS/MMS messages in Q2 2008.
* Over 12 mobile banking transactions conducted every month per consumer.
And, if you're not sure where to start here are 3 alternatives:
Clairmail
Sybase
M-COM
* Verisign predicts..."a record of more than 1.4 billion mobile messages are expected to be delivered nationwide on Inauguration Day"
* Latest figures in the UK - 17.7 billion SMS/MMS messages in Q2 2008.
* Over 12 mobile banking transactions conducted every month per consumer.
And, if you're not sure where to start here are 3 alternatives:
Clairmail
Sybase
M-COM
Sunday, November 30, 2008
Mobile Banking Updates - Nov 30th
PayPal Passcode Sent by Text Message
"PayPal Inc. announced the introduction Monday of PayPal SMS Security Key, which transmits a passcode to customers' mobile phones using the short message service for text when they log on to the payment service's Web site."
Are You Ready for Mobile Banking (Again)?
"Mobile banking can be viewed as a hook for customer acquisition, but takedown shouldn't be relied on for customer retention. This tool of convenience can complement an institution's existing offerings, but before joining the mobile banking bandwagon, evaluate whether it's right for your processes, personnel and customers."
Regions Mobile Banking Service Available for US Users
"Regions Financial Corporation has announced the Regions Mobile Banking, which can be accessed by wireless customers of AT&T, Verizon Wireless, Cellular South and Alltel Wireless."
ClairMail Hits 12 Transactions per Month Milestone
ClairMail, a vendor of mobile phone-based customer interaction products, reportedly has announced that its so-called “ClairMail System” has reached “millions of monthly mobile banking transactions” and increased growth, with more than 12 mobile banking transactions conducted every month per consumer."
ClairMail Chosen by PNC to Enhance Mobile Banking Services
"ClairMail, Inc., the leader in 2-way mobile phone-based customer interaction, today announced that PNC Financial Services Group, Inc. expanded its mobile banking services by integrating ClairMail's comprehensive mobile banking solution."
Sybase CEO sees mobile commerce as future
"John Chen, chairman, CEO and president of Sybase, has led a dramatic turnaround for the Dublin company by focusing it on infrastructure software that helps companies go mobile. Now a leader in mobile middleware, device management, messaging and mobile databases, Sybase topped $1 billion in revenue last year and is on pace for a record 2008."
Jack Henry & Associates Announces 103rd Mobile Banking Customer
"Jack Henry & Associates, Inc., a leading provider of integrated technology solutions and data processing services for financial institutions, today announced goDough, its state-of-the-art mobile banking solution, has been adopted by 103 of its core financial institution clients."
Diebold offers mobile banking through strategic alliance with ClairMail
"Diebold, a provider of self-service delivery and security systems and services, has announced that it is providing ClairMail's two-way mobile platform, as an integral part of its total outsourcing strategy, through a strategic alliance with ClairMail."
Mobile Finance: Indigenous, Ingenious or Both?
"In Ghana, it's popularly known as susu. In Cameroon, tontines or chilembe. And in South Africa, stokfel. Today, you'd most likely call it plain-old microfinance, the nearest term we have for it. Age-old indigenous credit schemes have run perfectly well without much outside intervention for generations. Although, in our excitement to implement new technologies and solutions, we sometimes fail to recognize them. Innovations such as mobile banking -- great as they may be -- are hailed as revolutionary without much consideration for what may have come before or who the original innovators may have been."
Txt Me: SMS Gains Mobile Bank Traction
"Most mobile banking services use browsers and specialized software available for high-end phones, but several financial companies are turning their attention to the basic text message. Advocates of texting say that this simple format can help banks reach almost any customer with a mobile phone, and that their immediacy makes texts well suited for alerts that can prompt a quick response."
"PayPal Inc. announced the introduction Monday of PayPal SMS Security Key, which transmits a passcode to customers' mobile phones using the short message service for text when they log on to the payment service's Web site."
Are You Ready for Mobile Banking (Again)?
"Mobile banking can be viewed as a hook for customer acquisition, but takedown shouldn't be relied on for customer retention. This tool of convenience can complement an institution's existing offerings, but before joining the mobile banking bandwagon, evaluate whether it's right for your processes, personnel and customers."
Regions Mobile Banking Service Available for US Users
"Regions Financial Corporation has announced the Regions Mobile Banking, which can be accessed by wireless customers of AT&T, Verizon Wireless, Cellular South and Alltel Wireless."
ClairMail Hits 12 Transactions per Month Milestone
ClairMail, a vendor of mobile phone-based customer interaction products, reportedly has announced that its so-called “ClairMail System” has reached “millions of monthly mobile banking transactions” and increased growth, with more than 12 mobile banking transactions conducted every month per consumer."
ClairMail Chosen by PNC to Enhance Mobile Banking Services
"ClairMail, Inc., the leader in 2-way mobile phone-based customer interaction, today announced that PNC Financial Services Group, Inc. expanded its mobile banking services by integrating ClairMail's comprehensive mobile banking solution."
Sybase CEO sees mobile commerce as future
"John Chen, chairman, CEO and president of Sybase, has led a dramatic turnaround for the Dublin company by focusing it on infrastructure software that helps companies go mobile. Now a leader in mobile middleware, device management, messaging and mobile databases, Sybase topped $1 billion in revenue last year and is on pace for a record 2008."
Jack Henry & Associates Announces 103rd Mobile Banking Customer
"Jack Henry & Associates, Inc., a leading provider of integrated technology solutions and data processing services for financial institutions, today announced goDough, its state-of-the-art mobile banking solution, has been adopted by 103 of its core financial institution clients."
Diebold offers mobile banking through strategic alliance with ClairMail
"Diebold, a provider of self-service delivery and security systems and services, has announced that it is providing ClairMail's two-way mobile platform, as an integral part of its total outsourcing strategy, through a strategic alliance with ClairMail."
Mobile Finance: Indigenous, Ingenious or Both?
"In Ghana, it's popularly known as susu. In Cameroon, tontines or chilembe. And in South Africa, stokfel. Today, you'd most likely call it plain-old microfinance, the nearest term we have for it. Age-old indigenous credit schemes have run perfectly well without much outside intervention for generations. Although, in our excitement to implement new technologies and solutions, we sometimes fail to recognize them. Innovations such as mobile banking -- great as they may be -- are hailed as revolutionary without much consideration for what may have come before or who the original innovators may have been."
Txt Me: SMS Gains Mobile Bank Traction
"Most mobile banking services use browsers and specialized software available for high-end phones, but several financial companies are turning their attention to the basic text message. Advocates of texting say that this simple format can help banks reach almost any customer with a mobile phone, and that their immediacy makes texts well suited for alerts that can prompt a quick response."
Tuesday, October 7, 2008
Mobile Banking Updates - Oct 7
It has been a busy couple of days in the world of mobile banking...here are the headlines!
Visa Questions Phones as Payment Tools
"Mobile phones are more useful for providing details about payments than for initiating them at the point of sale, according to Visa Inc."
INSIDE Debuts MicroPass Contactless Stickers
"INSIDE Contactless, a leading provider of advanced, open-standard contactless chip technologies, today announced that samples of the first MicroPass® contactless prelam for use in mobile handset stickers for secure payments are now available for card manufacturers."
Maximizing Efficiency in Payments - Mobile Banking
Mustafa Patni of WaMu will be discussing, "The NACHA Operating Rules to accommodate payments that originate from the mobile channel and to identify any unique risk considerations, including authorization and authentication, to enable efficient and effective adoption in the ACH Network."
Awareness and Use of Mobile Banking Low, But Poised to Grow
"The use of cell phones to conduct banking activities such as balance inquiries, bill payment and funds transfers is still a relatively new capability for many banks. Not surprisingly, then, awareness and usage of mobile banking services are just beginning to build among banking customers."
Venture to Provide Mobile Transfers
"Monitise Americas, a joint venture of Monitise PLC and Metavante Technologies Inc., plans to start offering person-to-person transfer services through mobile phones next quarter."
Sybase 365 Exposes Top Myths Surrounding Mobile Banking
"Sybase 365, the global leader in mobile messaging services, exposed several myths surrounding mobile banking. The results of a recent survey (“Mobile Banking: The Second Wave. Global Mobile Banking Survey 2008”) commissioned by Sybase 365 showed that some 34% of banks offer mobile services to customers and an additional 32% plan to offer mobile services in the next 12-24 months."
Visa Questions Phones as Payment Tools
"Mobile phones are more useful for providing details about payments than for initiating them at the point of sale, according to Visa Inc."
INSIDE Debuts MicroPass Contactless Stickers
"INSIDE Contactless, a leading provider of advanced, open-standard contactless chip technologies, today announced that samples of the first MicroPass® contactless prelam for use in mobile handset stickers for secure payments are now available for card manufacturers."
Maximizing Efficiency in Payments - Mobile Banking
Mustafa Patni of WaMu will be discussing, "The NACHA Operating Rules to accommodate payments that originate from the mobile channel and to identify any unique risk considerations, including authorization and authentication, to enable efficient and effective adoption in the ACH Network."
Awareness and Use of Mobile Banking Low, But Poised to Grow
"The use of cell phones to conduct banking activities such as balance inquiries, bill payment and funds transfers is still a relatively new capability for many banks. Not surprisingly, then, awareness and usage of mobile banking services are just beginning to build among banking customers."
Venture to Provide Mobile Transfers
"Monitise Americas, a joint venture of Monitise PLC and Metavante Technologies Inc., plans to start offering person-to-person transfer services through mobile phones next quarter."
Sybase 365 Exposes Top Myths Surrounding Mobile Banking
"Sybase 365, the global leader in mobile messaging services, exposed several myths surrounding mobile banking. The results of a recent survey (“Mobile Banking: The Second Wave. Global Mobile Banking Survey 2008”) commissioned by Sybase 365 showed that some 34% of banks offer mobile services to customers and an additional 32% plan to offer mobile services in the next 12-24 months."
Tuesday, September 9, 2008
Mobile Text Banking - 5 Things You May Not Know
Here are 5 things you may or may not know about a mobile text banking application.
1) Short codes are not purchased. They are leased from the Common Short Code Administration (CSCA). "Selected" codes cost $12,000/year. "Random" codes cost $6,000/year.
2) Have you ever wondered why many banks do not support transfers via text banking? The answer: Not all carriers will approve/support the functionality.
3) Which words/terms must you accept as a clients request to "unsubscribe?"
* Cancel, Cancel All, Stop, Stop All, Quit, Quit All, Unsubscribe, Unsubscribe All, End, End All
4) Whether running in-house or through a vendor you must utilize an aggregator. A few of the top players (in alphabetical order) are: Clickatell, mBlox, Sybase, and Verisign.
5) The carriers insist that you follow the MMA "Consumer Best Practices." Plus, be sure to ask your aggregator/vendor for a copy of the supplemental requirements provided by the carriers.
1) Short codes are not purchased. They are leased from the Common Short Code Administration (CSCA). "Selected" codes cost $12,000/year. "Random" codes cost $6,000/year.
2) Have you ever wondered why many banks do not support transfers via text banking? The answer: Not all carriers will approve/support the functionality.
3) Which words/terms must you accept as a clients request to "unsubscribe?"
* Cancel, Cancel All, Stop, Stop All, Quit, Quit All, Unsubscribe, Unsubscribe All, End, End All
4) Whether running in-house or through a vendor you must utilize an aggregator. A few of the top players (in alphabetical order) are: Clickatell, mBlox, Sybase, and Verisign.
5) The carriers insist that you follow the MMA "Consumer Best Practices." Plus, be sure to ask your aggregator/vendor for a copy of the supplemental requirements provided by the carriers.
Sunday, August 17, 2008
Mobile Banking Updates
Major banking group considers replacing BlackBerry with iPhone
"Global banking conglomerate HSBC is taking a hard look at using the iPhone 3G over its current fleet of corporate BlackBerry devices."
Absa introduces mobile money transfer via ATM network
"South Africa's Absa Bank has launched CashSend, a service that enables customers to send funds via ATMs to recipients that do not have a bank account or card."
Sybase CEO John Chen charts a mobile course
"The Hong Kong-born engineer, who became chief executive a year after his arrival, set about the slow task of rebuilding the Dublin-based company. Part of his strategy has been mining the then-nascent mobile software market. Sybase now has annual revenue that tops $1 billion."
Mpayy Promises Payments from Anywhere
"Although Conrad Sheehan thinks he has come up with a way to provide the mobility factor in the formula for ecommerce success, he's an unlikely dot-com entrepreneur at age 41."
"Global banking conglomerate HSBC is taking a hard look at using the iPhone 3G over its current fleet of corporate BlackBerry devices."
Absa introduces mobile money transfer via ATM network
"South Africa's Absa Bank has launched CashSend, a service that enables customers to send funds via ATMs to recipients that do not have a bank account or card."
Sybase CEO John Chen charts a mobile course
"The Hong Kong-born engineer, who became chief executive a year after his arrival, set about the slow task of rebuilding the Dublin-based company. Part of his strategy has been mining the then-nascent mobile software market. Sybase now has annual revenue that tops $1 billion."
Mpayy Promises Payments from Anywhere
"Although Conrad Sheehan thinks he has come up with a way to provide the mobility factor in the formula for ecommerce success, he's an unlikely dot-com entrepreneur at age 41."
Tuesday, May 6, 2008
Leading Global Banks Invest in Mobile Banking Opportunity
"Driven by the excellent opportunity provided by mobile banking to enhance existing customer services, nearly a third of the world’s largest financial organizations are planning to launch mobile banking services in the next 12 to 24 months, according to a recent survey commissioned by Sybase 365, a subsidiary of Sybase, Inc. (NYSE:SY), the global leader in mobile messaging services." Read More >>
Wednesday, September 12, 2007
Save Time! Mobile Banking Headline Recap
This has been one active week for mobile banking, and there are a handful of stories that I want you to know about. I haven't had time to flush out full articles on each one, so here is recap of this weeks top headlines:
1) Chase Launches SMS Mobile Banking
3) Bank of America Introduces SafePass™ for Safer Online Banking
"Bank of America, an industry leader in secure online banking, is introducing a new security feature to its award-winning online banking service that provides customers with an extra layer of protection against unauthorized transactions."
5) Research Reveals U.S. Consumer Obsession With Bank Balances
"U.S. consumers are obsessed with managing their personal finances, according to research released by Sybase 365, a subsidiary of Sybase, Inc. , the global leader in messaging interoperability and mobile content delivery. More than a third of U.S. consumers, dubbed 'nano-economists,' are able to state their bank balance at any given time, and an additional 42 percent typically know their bank balance to the nearest $200."
1) Chase Launches SMS Mobile Banking
"Firethorn Holdings, LLC, (www.firethornmobile.com) the mobile banking and payments enabler, and CheckFree Corporation, a leading provider of financial electronic commerce services and products, announced today that Ogden, Utah- based America First Credit Union, one of the nation's 10 largest credit unions, will offer the Firethorn mobile banking solution to its 432,000 members."
3) Bank of America Introduces SafePass™ for Safer Online Banking
"Bank of America, an industry leader in secure online banking, is introducing a new security feature to its award-winning online banking service that provides customers with an extra layer of protection against unauthorized transactions."
"Monitise plc, the global leader in the provision of mobile banking and payments services, and Metavante Corporation, the banking and payments technology subsidiary of Marshall & Ilsley Corporation (NYSE: MI), today announced the formation of a joint venture company, Monitise Americas LLC, the mobile banking and payments ecosystem for the United States. Plans for the joint venture were announced by the companies in March 2007. "
5) Research Reveals U.S. Consumer Obsession With Bank Balances
"U.S. consumers are obsessed with managing their personal finances, according to research released by Sybase 365, a subsidiary of Sybase, Inc. , the global leader in messaging interoperability and mobile content delivery. More than a third of U.S. consumers, dubbed 'nano-economists,' are able to state their bank balance at any given time, and an additional 42 percent typically know their bank balance to the nearest $200."
Wednesday, August 8, 2007
New Entrants to the Mobile Foray
If you thought it was difficult to select a mobile banking vendor before, hold on, because the options are growing exponentially. Case in point, just this week two formidable companies announced the release of their mobile banking solution for the U.S. Specifically, I am referring to:
The Yodlee product integrates multiple channels by utilizing both browser and SMS technology. This is a trend that we will most likely see repeated, because as Peter Hazlehurst (Yodlee - SVP of Product Development) states, “It’s clear that mobile banking strategies need to incorporate at least two key elements: 1) ubiquity of access via multiple channels and 2) relevant, personal content that delivers what consumers really need when they’re on the go.”
Sybase has also announced that their mobile banking solution will be available to financial institutions in the U.S. This development comes shortly after they commissioned a survey, which was administered by Loudhouse Research, in which they found that, “66 percent of mobile subscribers in the Americas are interested in services that allow them to check bank account balances via their mobile device.”
The Yodlee product integrates multiple channels by utilizing both browser and SMS technology. This is a trend that we will most likely see repeated, because as Peter Hazlehurst (Yodlee - SVP of Product Development) states, “It’s clear that mobile banking strategies need to incorporate at least two key elements: 1) ubiquity of access via multiple channels and 2) relevant, personal content that delivers what consumers really need when they’re on the go.”Sybase has also announced that their mobile banking solution will be available to financial institutions in the U.S. This development comes shortly after they commissioned a survey, which was administered by Loudhouse Research, in which they found that, “66 percent of mobile subscribers in the Americas are interested in services that allow them to check bank account balances via their mobile device.”
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