Tyfone trials smart card-based mobile banking security

"The mobile ID and banking technology provider Tyfone has launched a pilot of a hardware-based mobile security technology that is said helps meet U.S. banking regulators' requirements for multiple layers of authentication. Portland, Ore.-based Tyfone is testing its Connected Smart Card user authentication solution with CoVantage Credit Union's staff and business banking customers.

Wisconsin-based CoVantage is one of 10 U.S. credit unions, including Star One Credit Union, Boulder Valley Credit Union and Security Service Federal Credit Union, that has implemented Tyfone's mobile banking software platform. Tyfone said it has thus far processed $300 million worth of mobile banking transactions on behalf of credit union clients." Continue Reading

International Mobile Banking Updates - Dec 18

Diamond Bank takes mobile banking to Federal Palace
"WorldStage Newsonline-- Diamond Bank Plc, at the weekend took its mobile banking truck, tagged Diamond-in-Motion to the Federal Palace Hotel for a live Christmas shopping event organised by Lost in Lagos.com. Lost in Lagos.com is a website that helps people to discover Lagos, with the most comprehensive list of Lagos’ restaurants, shops among others. The company organised a shopping event at the weekend which featured some major fashion designers and other vendors that attracted customers from far and near."

Bank of Ireland Announces Details of its new Pay to Mobile Service and Calls for Customers to Register Today
"Bank of Ireland today (Friday, 7th December 2012) announced details of its new Pay to Mobile service, which is due to launch to its customers early in the New Year. An enhancement to Bank of Ireland's Mobile Banking app, Pay to Mobile allows customers to transfer money safely and quickly to family and friends with a registered Bank of Ireland account, simply by using their mobile phone number. Customers are invited to register now for this service so they are ready to use Pay to Mobile as soon as it launches."

Mobile banking: A technology gradually permeating into the system
"Last month, HDFC bank, India's second-largest private-sector bank, launched two services on its mobile banking platform. The first was a Hindi banking service, which made accessible its 30-odd m-banking services-like transferring funds, stop-cheque requests and opening a fixed deposit-to account holders who prefer Hindi as a medium of communication."

Sacombank Selects New Generation Internet And Mobile Banking Solution From Infosys Finacle
"Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) has announced its partnership with Infosys, a global leader in consulting and technology, to implement the new generation Finacle e-banking & mobile banking solution. The Bank will install Finacle’s consumer e-banking, corporate e-banking and mobile banking solutions. The solutions will enable the bank to develop sophisticated Internet banking products and services with faster roll out times, targeted at improving customer satisfaction. It will also help influence customer loyalty through unique personalization capabilities, industry-leading security features and intelligent customer insights that will drive the adoption of online banking."

Tyfone finds partner for entry into Latin American market with mobile banking, payments
"Tyfone is expanding into Latin America through a deal with Protege Sistemas of Brazil (operating as Rede Protege and in partnership with Quality Administradora & Investimentos) to bring its solutions for mobile banking, mobile wallet and mobile ticketing for mass transit to Brazil and Latin America. Protege Sistemas is a provider of electronic transaction and transit ticketing services. The company provides transaction processing services for São Paulo Metro."

Mobile Banking Updates - Oct 4

Communication Federal Credit Union Selects Tyfone to Power Next Generation Mobile Services
"Communication Federal Credit Union (CFCU), serving more than 50,000 members across Oklahoma and Kansas, will provide its members a comprehensive suite of mobile financial services powered by Tyfone’s next generation mobile banking solution. 'As reliance on PCs continues to diminish, CFCU sees tremendous value in being able to provide 100% of our member base the ability to conduct their banking via mobile without requiring them to have a computer or online banking account,' said Scott Mendenhall, vice president information systems."

Fiserv Sees Growing Demand for Mobile Banking and Payments from Financial Institutions, Consumers
"Fiserv, Inc. (FISV), a leading global provider of financial services technology solutions, today announced that more than 1,100 financial institutions have selected mobile banking solutions from Fiserv. The company’s flagship mobile banking and payment platform, Mobiliti®, currently powers mobile financial services for millions of consumers at banks and credit unions on five continents across the globe. The number of accounts supported by the platform is growing an average of 10 percent each month, reflecting the growing consumer demand for mobile banking and payments technology."

Banking Customers Turn to Online, Mobile for Transactions
"With retail banking customers increasingly turning to online and mobile to get their banking done, financial institutions can bolster customer satisfaction by ensuring that the customer experience in those two channels is solid. A Q1 2012 survey of banking customers in 35 different countries conducted by consulting, technology and outsourcing company Capgemini and retail finance nonprofit Efma found customers wanted increased functionality out of their online banking experience."

Mobile Banking Updates - Jun 15

Tyfone Inks Mobile Banking Pact With Giant SSFCU
"The wait is over. After a year of deliberation, and sorting through myriad ways to take its 875,000 members mobile, San Antonio-based Security Service Federal Credit Union has announced its selection of Portland, Ore.-based Tyfone as its mobile banking provider. A top 10 credit union – with more than $6 billion in assets – SSFCU had not provided its members with mobile banking but knew this was high on the list of what members wanted in additional services."

CSI Launches PFM Solution for Internet Banking
"Computer Services, Inc. (CSI) (otcqx:CSVI), a provider of end-to-end technology solutions that empower financial institutions to remain competitive, compliant and profitable, released its new Personal Financial Management (PFM) service for its Internet banking customers. The PFM service delivers consumers a one-stop online location to manage all of their personal finances and accounts within their bank's Internet banking application."

mFoundry Launches Mobile Banking Solution for Eli Lilly Federal Credit Union
"mFoundry, North America's largest mobile banking and payments provider, today announced Eli Lilly Federal Credit Union (ELFCU) has launched ELFCUmobile, a full-featured mobile banking solution that includes native mobile applications, mobile Web and SMS/text banking."

Clairmail Awarded 2012 Best Mobile Application or Service
"Clairmail, Inc., the leader in mobile banking and payments solutions, today announced it was named the Best Mobile Application or Service in the 2012 San Francisco Business Times Tech and Innovation Awards. The Tech and Innovation Award winners were chosen across 15 categories for solving challenging problems, all while growing companies and creating jobs in the Bay Area."

Mobile Banking Vendor Updates - Mar 23

PayOne Simplifies Mobile Payments on a Global Scale
"PayOne (www.PayOne.com), formally called PaymentOne, announced today a complete rebranding of the company that invented “no credit card required” carrier billing for digital commerce more than twelve years ago. PaymentOne becomes PayOne today with a new look, a new website and the launch of a new simplified One-Click mobile payments platform designed for the future of global commerce in support of a 360 degree mobile lifestyle."

Mitek Systems: A Smart Play In Mobile Banking
"Mitek Systems creates applications and programs for mobile banking services. Because of Mitek Systems, a person with an iPhone can take a picture of a check and have that check be deposited to their checking account automatically. Consumers and the banking industry are just beginning to realize the economic advantages of mobile banking technologies."

MCHN Launches Mobile Solutions Suite of Banking Services
"Mobile Clearinghouse Network (MCHN), a recently awarded Microsoft BizSpark One member, is announcing the inaugural launch of their MCHN Mobile Solutions banking platform for mobile devices. The initial pilot has rolled out in the country of Georgia with the BTA Bank, a Silk Road Group majority owned entity. Through the combination of the MCHN global hub integration capabilities and MCHN Mobile Solutions' suite of transaction services, clients are positioned to offer their customers a secure and robust mobile offering for all of their financial needs."

RTN Federal CU selects Tyfone for m-banking
"RTN Federal Credit Union (RTN FCU), serving communities in suburban Boston, Massachusetts, will provide its members a comprehensive suite of mobile wallet services and mobile financial services powered by Tyfone's next generation mobile banking solution. Tyfone's mobile banking services will be integrated directly into RTN's Fiserv hosted XP2 core."

Cardlytics Presenting On The Impact of Rewards In A Mobile Banking Environment At BAI Payments Connect 2012
"Cardlytics, the pioneer of Transaction-Driven Marketing(TM), announced that Rod Witmond, senior vice president for product management and marketing, will join other industry executives today in the panel presentation, "Rewards in a Mobile Banking Environment," at BAI Payments Connect 2012 (3:30 p.m. at The Mirage hotel in Las Vegas)."

Truly Mobile Banking: Plastyc Launches Smartphone Apps for the Underbanked
"UPside Visa is Plastyc's award-winning prepaid program offering a premium suite of affordable banking services tailored for the up-and-coming youth and under-banked markets. What's unique about the UPside Visa mobile apps for Android and iPhone are how they meet a complete range of personal banking needs, activating a new account, signing up for direct deposit, redeeming cash back points, paying bills, transferring funds to friends, issuing paper checks and more -- using just a smartphone. Of course, the apps enable the basics, such as checking balances and reviewing transaction histories, as well."

VocaLink partners Clairmail for mobile banking
"The partnership will enable banks to use Clairmail's Smart Client technology to deliver new services to their customers, such as Person-to-Person Mobile Payments, enabled by VocaLink's real-time capabilities, such as Faster and Immediate Payments and multi-channel service options. Through this partnership, VocaLink and Clairmail will enable banks to provide a roadmap of innovative, real-time banking solutions through the mobile channel."

RDM Corporation Extends Mobile Deposit Services to Android Phones
"RDM Corporation, a leading developer of specialized software and hardware products for electronic payment processing, announced the support of Simply Deposit Mobile® for Android. This new application follows the previously released version for iPhone. Simply Deposit Mobile enables users to deposit checks with their Android phone from virtually anywhere. RDM has been an early leader and pioneer in mobile payments, offering mobile check capture services since 2009. "

Elephant Talk Banks on Mobile
"For investors seeking hyper growth, one of the ripest areas is mobile telecom.
The trends in the financial industry are especially favorable for one of my leading microcap companies -- Elephant Talk Communications (ETAK) and its security-focused ValidSoft subsidiary -- as they roll out their solutions in 2012 to counter electronic fraud relating to card, the internet, and telephone channels."

Mobile Banking Updates - Dec 4

MasterCard Backs And Partners With Mobile Banking Company mFoundry To Expand Reach Of NFC
"After announcing a new partnership with Intel, MasterCard is revealing a new collaboration to help spread the use of its NFC technology through its PayPass program. The credit card giant is making a strategic investment in mFoundry, a company that powers mobile banking solutions for more than 500 banks and credit unions nationwide."

Seizing the Mobile Banking Opportunity
"Feature-rich smartphones, high-speed 4G networks, the availability of downloadable apps and an increasingly mobile workforce have driven a huge uptick in information-based mobile banking services, such as transaction alerts and balance checks. In fact, mobile banking recently has begun to displace online banking for such information-based services."

Century launches mobile banking, alerts
"Century Bank and Trust is excited to announce the launch of free mobile banking and account alerts.
Mobile banking and account alerts put customers in the know and in control 24/7. With busy schedules and lifestyles, managing finances can be a challenge. Now mobile banking and account alerts allow customers to stay on top of their finances anytime, anywhere from their cell phones. Manage money on the go- check balances, transfer money, pay bills, receive account alerts and more."

Mobile Banking Can Pave the Way for NFC
"Google, Visa, MasterCard, Sprint, and even Pentagon Federal Credit Union. The list of early proponents of innovative near field communication tap and pay mobile technology keeps growing. But that brings two questions into sharp focus."

Opportunities for banks in this age of ubiquitous mobility
"Perhaps more startling than the penetration of mobile phones into the developing economies, is the fact that mobile phone users have ignored the natural boundaries of the electricity-grid and in 32 countries today the population of mobile data subscribers exceeds their on-grid populations. According to a recent study by CISCO1, this phenomenon will become visible at a regional level by the end of 2011 when the total number of mobile users in Sub-Saharan Africa and Southeast Asia will exceed their total on-grid populations. By the end of 2013, the same will occur in the Middle East."

Tyfone teams wtih Oregon credit union to offer iCashe Mobile Wallet
"Portland, Ore.-based mobile financial service company Tyfone is working with OnPoint, a credit union also based in Portland, to offer a new mobile wallet product called iCashe Mobile Wallet, the company said in an announcement. The iCashe Mobile Wallet lets OnPoint's mobile banking customers buy gift cards via their smartphones and send them using SMS text messaging or email. OnPoint is the first credit union in the U.S. to offer the iCashe Mobile Wallet, the announcement said."

Mobile Banking Updates - Oct 28

S&T Bank Introduces Mobile Banking for Anytime, Anywhere Access
"S&T Bank STBA +5.85% , a full-service financial institution with branch locations in 10 Pennsylvania counties, is pleased to announce the launch of S&T Mobile Banking, a mobile phone-based platform that enables customers to access their accounts via text message, mobile web or with the new S&T app available for iPhone, Android and Blackberry. With mobile banking, S&T customers are able to check balances, transfer funds, review transactions, pay bills and more right from their phone."

Lookout Mobile Security Rolls Out Free iPhone Security App
"iPhone owners do more with their phones than anyone else--browsing the web, sending emails, using social networks and even mobile banking. In fact, 52% of iPhone users conduct mobile banking on their iPhone. When designing this new offering, Lookout focused on providing one, easy to use app to keep iPhone users safe, and started by addressing the biggest risks to iPhone users today. In a recent survey, Lookout found that:

* 93% of iPhone users said they have concerns about the security of the data stored on their phones
* 4 out every 10 iPhone users are unsure about the security of public WiFi
* More than a third of users don’t regularly sync their devices."

Tyfone Introduces iCashe Mobile Wallet That Combines Mobile Banking With Digital Commerce
"CTIA Enterprise and Applications -- Tyfone (www.tyfone.com) announced today the availability of iCashe™, a new mobile wallet and eCommerce engine that for the first time delivers purchasing power through any mobile banking application. Built entirely on top of Tyfone's award-winning u4ia® mobile financial services platform, iCashe is the industry's only service to blend comprehensive mobile banking features with convenient consumer purchasing, gifting and loyalty programs. With the option of adding Tyfone's SideTap™ microSD secure element technology, iCashe also provides contactless NFC payments and the highest level of secure identity management."

Mobile Banking Updates - Oct 12

Tyfone Dissects Mobile Banking Terminology Confusion
"From Google (News - Alert) Wallet to Visa Wallet to the Isis Wallet, there has been no shortage of news about mobile banking, electronic wallets and NFC this past summer. But, according to Siva Narendra, president of Tyfone – a leading provider of mobile banking technology – there exists a lot of confusion surrounding the terms mobile wallets, electronic wallets and NFC, causing the three to incorrectly be used interchangeably. Recently, Narendra decided to take a stab at clearing up the air a bit."

Nigeria: How 'Mobile Money' Will Boost Nigerian Economy
"The Central Bank of Nigeria (CBN), in order to achieve its cashless policy for the country, recently licensed some operators to deliver the mobile money services in Nigeria. In this interview with Mr Tayo Oviosu, the Chief Executive Officer of Pagatech, a mobile payment service provider, he explained how the adoption of this mode of transaction would benefit Nigerians."

Advanced Merchant Solutions Launches Mobile Banking Solution for Apple's Mobile OS
"Advanced Merchant Solutions (MerchantAnywhere), a provider of solutions for mobile banking, has launched a new payment solution for Apple’s (News - Alert) mobile operating system. MerchantAnywhere officials explained that its Pocket Verifier Professional now available with iMerchant, is designed to help one transfer funds from their customer’s credit card directly into their checking account. The solution is capable of making use of the user PDA’ internet connection to authorize and transfer funds and allows them to conduct business anytime and anywhere."

Key Takeaways from the EFMA 2011 Mobile Banking & Payments Conference (part 2)
"3) Non-bank led innovation in mobile payments - On the mobile payments front, speakers and audience alike agreed that all innovation in this space is coming from non-traditional payment companies. Brands such as Google, PayPal, Apple and Square were omnipresent in all payments discussions, as were European mobile operators KPN, Telefonica/O2 and Orange in respect to NFC trials and commercial launches."

America First Credit Union Expands Mobile Banking with Mobilitifrom Fiserv
"Mobile Banking integrates tightly with America First's Online Banking, delivering a consistent experience across channels--25,000 new users signed up for America First Mobile Banking within five weeks of the expanded service launch."

Fiserv Tops Javelin's Mobile Banking Scorecard
"This week, Javelin Strategy and Research released its 2011-2012 Mobile Banking Vendor Scorecard. The report, now in its third year, provides a detailed analysis and ranking of the mobile banking solutions of 15 major vendors and also identifies the top 10 industry trends.

Vendors were scored in seven areas: market, applications and operating systems; platforms and scalability; basic features; alerts and advanced functionality; back office; security; and reviews, partners and installations. For the second year in a row, Fiserv ranked the best out of the 15 companies. FIS followed closely behind, and Sybase came in third. These three vendors' platforms were also rated the most secure."

SpyEye Trumps Mobile Banking SMS Security Systems
"Researchers from security solutions provider Trusteer have identified an advanced attack method utilizing the SpyEye Trojan which undermines mobile banking SM-based authentication systems.

SpyEye is a particularly nasty piece of malicious software which can harvest credentials for online accounts. The new attack is designed to harvest SMS text messages that contain a one-time use code sent to customers by institutions as an added security measure for clients engaged in mobile banking transactions, making SpyEye an even more powerful tool for stealing financial login credentials."

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."'

Mobile Banking Updates - Aug 27

Are Early Adopters of Mobile Banking Satisfied?
"When you follow the mobile wallet news, one of the first things you notice is that there is an enormous amount of investment in mobile banking services. It seems like banks and other financial services firms launch a new app every week. Even credit unions are in on the mobile action. Qualitatively, the investment seems disproportionate to the current adoption level. I can’t say I know anyone who uses online banking, though I have to say I am a frequent user of my mobile Starbucks card."

iPhone Users Keenest on Mobile Banking
"When it comes to mobile banking, iPhone users lead the pack. That is the big news out of a U.K. survey conducted by YouGov polling. While 21% of all Brits say they would pay bills via a mobile phone, 46% of iPhone users say they would.

iPhone users similarly doubled the enthusiasm of all other mobile users down the line of mobile banking tasks: 62% say they would transfer funds, 69% check balances, 45% pay others and 31% make contactless payments."

Motorola's Atrix Certificate Updater remedies its mobile banking blunder
"If you're an Atrix 4G user who has been reeling since your banking apps failed, go ahead and cancel that next therapist appointment -- thankfully for you, a permanent fix is now available in the Android Market. Motorola's Atrix Certificate Updater swaps the troublesome security signatures from v4.1.83 with versions that should play nicely alongside your mobile banking apps. "

Tyfone Talks Mobile Banking Trends with TMCnet
"Don’t be surprised if pretty soon you see smartphones replacing credit cards in the cashier line as the mobile banking space is becoming exceedingly popular. Mobile banking, which allows for consumer purchases to be made through smartphones, is on its way to becoming the "new norm,” and one company ready to ride this wave is Tyfone, a company that offers next generation mobile banking services to both online and offline customers."

Mobile Banking Updates - Jun 15

Bank of America revamps its mobile banking app with latest update
"Bank of America has updated its Android mobile banking app to version 3.1.120 with a completely revamped appearance and user interface. Anyone who thought the previous versions were a little heavy on the “blah” should be pleasantly surprised to find a more user-friendly experience with a clean, polished finish that's sure to please even the pickiest mobile bankers. "

Wells Fargo Leads in Business Mobile Banking
"The banking industry often is accused of dragging its feet on corporate mobile banking. 'While the potential of the consumer mobile banking market is certainly attractive, little emphasis is being placed on the corporate or small-business markets,' Celent senior analyst Jacob Jegher wrote in a blog post in July. 'This is quite surprising given the penetration of mobile devices in the business world.'"

Standard Chartered makes mobile banking a Breeze
"The Bank’s first mobile banking application to view, move and manage finances anytime, anywhere. Standard Chartered Bank, India’s largest international bank, today announced the launch of an innovative mobile banking application in India, called Standard Chartered Breeze. The product gives customers greater ease of use and a higher degree of convenience, through an intuitive and design rich interface."

Star One CU Selects Tyfone for Mobile
"Star One Credit Union chose Tyfone Inc. for mobile banking services partly because of its near-field communication contactless payment capabilities, the $5.6 billion credit union said Tuesday.

Star One, of Sunnyvale, Calif., said it signed an agreement with Tyfone, of Portland, Ore., for mobile banking technology. Because Tyfone's systems are integrated with the vendor Fiserv Inc.'s XP2 core banking system, which Star One uses, Star One's mobile customers will get faster access to data."

Mobile Banking Updates - May 9

BankAtlantic Launches New On Demand SMS Text Message Banking
"BankAtlantic, Florida’s Most Convenient Bank, announced today the launch of its newest functionality in On Demand SMS Text Message Banking powered by Intuit Financial Services.

BankAtlantic’s free* Text Message Banking service combines a secure banking medium and the ease of sending and receiving a text message. Customers enjoy the convenience of checking account balances, viewing latest transactions, receiving low balance alerts, and making fund transfers to their primary account, using text messages from anywhere, at any time."

Entrust Introduces Advanced SDK, Enables Banks to Embed Transparent Strong Authentication into New or Existing Mobile Applications
"To improve the speed and efficiency in which financial institutions develop and provide customers secure, trusted mobile banking applications, Entrust, Inc., announces the Entrust IdentityGuard Mobile Software Development Kit (SDK) for today's popular mobile platforms, including Apple, Google Android, RIM BlackBerry and Java. This easy-to-use security toolkit helps banks transparently embed Entrust's strong authentication technology into an organization's new or existing mobile-banking application."

TD introduces next wave of mobile convenience
"As part of its ongoing commitment to providing comfortable and convenient customer experiences, TD Bank Group today announced an enhanced and expanded version of its popular mobile app. With more than one million North American downloads - the most of any Canadian bank - the latest version of the TD mobile app now offers several features unique to any Canadian mobile banking and investing app."

Bank of America Windows Phone 7 mobile banking app now available
"Bank of America has launched its own Windows Phone 7 mobile banking application. The application, available immediately, allows Bank of America users to manage their banking accounts straight from Windows Phone 7. Here’s the top features:"

Mybarclaycard now on mobile
"This quarter Barclaycard joined the mobile banking bandwagon and launched a new mobile service for its existing Internet Banking customers. The service can be accessed on most web enabled phones using the Barclaycard Online Banking login details and has been developed to compliment Barclaycards existing online services platform."

Chase Mobile iPad App Updated With QuickDeposit
"Chase released a new update of its Chase Mobile iPad application that sports an optimized interface to take advantage of the tablet’s larger screen real estate."

Bank of Internet USA Launches Enhanced Mobile Banking Experience for Customers
"Bank of Internet USA (NASDAQ: BOFI) announced today an enhanced mobile banking experience for its customers. Bank of Internet's Mobile Banking enhancements allow customers access to their accounts through their mobile phone via two options: Text Message Banking and Mobile Web."

BB&T introduces free Android app
"BB&T Corporation (NYSE: BBT) announced today it has launched a free Android application for both smartphone and tablet users. BB&T is one of only a few U.S. banks to offer a comprehensive mobile banking consumer and small business product suite – mobile Web, text banking, and mobile applications – for a wide range of mobile devices. The app is now available for download on the Android Marketplace. BlackBerry and iPhone apps were released in 2010."

Tyfone offers m-banking service (US)
"Tyfone has introduced its mobile banking service. The service leverages Tyfone’s u4ia mobile financial services platform that enables contactless payments via NFC technology.

Tyfone’s mobile banking service is delivered to banking customers via mobile applications, mobile websites or text messaging. The tool aims to provide users with several features, such as checking balance, account history review, fund transfers, branch and ATM location lookup and bill pay."

Mobile Banking Vendor Updates - Mar 6

Fiserv Acquires M-Com to Enhance Mobile Banking and Payments Capabilities
"Fiserv, Inc., the leading global provider of financial services technology solutions, today announced that it has acquired Mobile Commerce Ltd. (M-Com), an international mobile banking and payments provider, to enhance Fiserv's existing mobile channel capabilities. The two companies have been partners since 2008, developing and delivering Mobile Money™ from Fiserv to hundreds of financial institutions. Financial terms of the acquisition were not disclosed."

Texas banks launch mobile banking offering with First Data
"After a successful pilot period, two Texas banks have launched First Data’s Mobile Manager mobile banking service to offer customers greater flexibility and on-the-go access to their financial information. The service can be easily integrated into banks’ current online platforms, and provides an alternative to creating the mobile banking system in-house. It includes SMS, mobile Web and downloadable applications."

Mitek Systems Unveils Another New Consumer Application That Enhances Consumer Convenience in Mobile Payments
"Continuing to expand consumer options for convenience in mobile banking, Mitek Systems Inc. today rolled out another innovative application for mobile payments companies which offers consumers the most convenient way to enroll their checking accounts."

Sutherland and Tyfone Partner to Accelerate Adoption of Mobile Financial Services
"Sutherland Global Services (www.sutherlandglobal.com), a leading provider of technology-enabled Business Process Outsourcing (BPO) services, announced a partnership with Tyfone (www.Tyfone.com), a global provider of unified mobile secure transaction infrastructure for mobile banking, mobile identity management and mobile contactless NFC payments."

Clickatell Engages Customers with SMS; Secures Funding for Mobile Banking
"From making donations to launching alerts about local emergencies, text messaging has far exceeded its original purpose of communicating with friends. Yet, harnessing the power of SMS technologies is not always easy or affordable for small businesses that may want to communicate en masse with its constituencies. Until now. Clickatell, a South African-based online SMS mobile messaging gateway provider, has launched a US small business SMS messaging package aimed at providing an accessible way to interact with and help customers via simple text messages."

CoCoNet unveils mobile banking app for corporate customers
"The new e-banking app is available for various smart phones and tablet PCs such as Apple iPhone, iPad, BlackBerry, and Android devices. The European multi-bank communications standard EBICS allows companies to connect to all their bank accounts at the highest level of service quality and security. Besides the well established channels through fat-clients and high sophisticated internet portals like MULTIVERSA IFP International Finance Portal users of corporate customers increasingly demand for mobile capabilities."

Mobile Banking Updates - July 18

Mobile-Banking Use Up, But Still Mainstream
"The use of mobile-banking services is increasing, but many consumers still prefer to bank online or at branches for more-complex transactions, new study data suggest. IDC Financial Insights, a Boston-based advisory research and consulting company, conducted the research in November, polling 1,008 U.S. adults ages 18 to 75 by phone. Of the participants, only 660 had mobile devices, and just 113 had used a mobile-banking service. However, 21% of total participants noted they used mobile banking to interact with their financial institution, up from 10% who did so in a similar survey IDC conducted in 2008."

Mobile Banking Use Rising, But Customers Say No to Paying More
"While the use of mobile banking is going up, smartphone users don't want to pay extra to do their banking from their devices, and banks aren't making money yet from the mobile services, says a new survey from IDC. Banks that do offer mobile banking saw almost double the use of these services from 2008 to 2009, according to IDC Financial Services' "2009 Consumer Mobile Banking Preferences Survey Results - Waiting for Takeoff." Use of mobile banking also showed an overall gain throughout the banking industry. Similarly, a recent study by comScore found that 13.2 million people accessed bank accounts from mobile sites during the month of April, 2010, a 70 percent increase over a year ago."

Mobile banking set for rapid adoption in SA
"Consulting services and outsourcing group Accenture South Africa said on Tuesday that the stage was set for the rapid adoption of mobile banking in South Africa, with more than 60 percent of the local adult population owning a mobile phone, the highest on the continent. Simon Russell, managing executive financial services, Accenture South Africa noted extensive positioning in the local mobile banking market with some innovative products including FNB's Send Money and Standard Bank's Mimoney."

Banks urged to invest in mobile banking
"Banks must think about severing the link between online banking and mobile banking if they are to meet the needs of an increasingly dissatisfied micro business market, according to Telstra-commissioned research from Roy Morgan. The research, conducted as part of a study sponsored by Telstra into how banks can better serve micro-sized businesses, found that 45 percent of micro business people don't see a role for a PC in their workplace, yet 60 percent have access to 3G enabled phones."

Smartphone, 3G Growth Creates Mobile Banking Opportunity in Latin America, Pyramid Finds
"The growth of smartphones in Latin America will provide the perfect ecosystem for the growth of mobile banking, enabling operators to offer new value-added services to their clients, reduce churn, and increase revenues, according to a new report from Pyramid Research (www.pyr.com)."

UPDATE 1-Monitise to raise 32 mln stg, bolster ties with Visa
"Mobile banking specialist Monitise (MONI.L) said it would raise 32.4 million pounds ($48.68 million) through a share placing and subscription, and extended its partnership with credit card giant Visa Inc (V.N) by a year, sending Monitise's shares up as much as 12 percent. The company said it would raise 23.6 million pounds by placing about 114 million shares at 20.75 pence a share, which is a 1.2 percent discount to the stock's Monday close."

Tyfone Powers Explosive Adoption of Multi-Mode Mobile Banking Service to OnPoint Community Credit Union Members
"Six months after launching a mobile banking service based on Tyfone’s financial services infrastructure, OnPoint Community Credit Union reports that usage among its members of the new mobile payments capabilities have exceeded expectations and continue to grow at a rapid pace. Each month more OnPoint credit union members are discovering the convenience of performing secure banking transactions via their mobile phones, while the number of monthly mobile banking transactions continues to soar at an average of 33 percent per month."

Mobile Banking Updates - Mar 18

Citi Sees Weak Demand For Mobile P2P Transfers, For Now
"Citigroup Inc. is learning many consumers today do not share its enthusiasm for mobile payments.

Citi, the first major bank to evaluate mobile transfers, has determined that even the people most likely to consider their phones a useful way to send money are still years away from embracing the technology.

The banking company began testing mobile person-to-person transfers in 2008, but quietly shuttered the program in December, concluding that consumers are only now starting to understand the capabilities of their increasingly sophisticated phones."

Europe gears up for SMS- based mobile payments
"Europeans now seem to be willing to pay for goods from their phones and with the successful trial in Sweden; the continent seems to be ripe enough for SMS-based mobile payments to take off. 20% increase in sales of the seven vending machines in two Stockholm underground stations was reported where the service was trialed by the payment and messaging equipment provider, Ericsson IPX, besides boosting carrier’s ARPU through increased SMS traffic."

First Data, Tyfone Partner for MicroSD-based Mobile Payments
"First Data Corporation has announced an agreement with Tyfone to provide SideTap micro secure digital (MicroSD) memory cards equipped with Tyfone’s patented technologies to enable most mobile phones with a memory slot to function as a mobile contactless payment device.

Unlike solutions that are tied to specific merchants or financial institutions, the MicroSD card powered by Tyfone technology lets the card work like an actual mobile “wallet.” The card can contain financial information and secure identification from multiple sources, such as specific retailers or financial institutions in both open-loop and closed-loop scenarios."

Mobile Banking Updates - Sept 22

Tyfone Receives Patent for Mobile Electronic Wallet Technology
"Tyfone has announced the it was awarded a second patent - US 7,581,678, is entitled “Electronic Transaction Card - for its innovations in smart card-based electronic wallet technology. According to Tyfone, 'using time-varying magnetic fields, Tyfone’s patented technology enables the use of a memory card as an electronic wallet and/or the ability to use that memory card for the secure transmission of financial information.'"

Mobile Banks in the Developing World Prove Simpler is Better
"Recent initiatives designed to make U.S. consumer financial products simpler and intelligible to customers, reminds me of a study we did on Mobile Banks† in the developing world. Designed to work on the simplest mobile devices and originally targeting the unbanked, mobile banks evolved from simple services (transfer of mobile air time) to become widely used money-transfer and mobile payment systems. In the Philippines, over $100M flows through the GCASH system daily. GCASH and rival SmartMoney are accepted in establishments that take credit cards, giving the unbanked the ability to conduct cashless transactions, a benefit previously limited to credit card customers. In Kenya, the number of transactions that flow through M-PESA is comparable to the number of all ATM transactions in the country."

Just How Hot Are Virtual Currencies and Mobile Payments?
"Take a look at the Inside Facebook blog and the ads from its sponsors - including Zong, SuperRewards, Allpass, PaymentPin and OfferPal. Also, notice the survey results discussed in this article - none of the major consumer credit card companies or issuers made the top 10! Have you signed up to use virtual currency or pay for digital goods using your mobile phone?"

APPetite for Disruption—Should Financial Institutions Consider iPhone Applications?
"The Apple iPhone is indisputably a “disruptive technology”— one that has redefined what a cell phone is and does, has expanded Internet reach, rekindled data revenues for mobile operators and brought a whole new phrase to our lexicon: “App Store.” In short, the iPhone is sexy, and companies, including those within the financial services industry, are very excited about being a part of the phenomenon. However, there are a number of aspects that banks need to consider before committing time and money to developing and launching an iPhone application for banking clients."

Javelin: Contactless Payments Have Little-to-No-Mutual Realization of Value
"Javelin Strategy & Research (www.javelinstrategy.com ) today released a report revealing that the contactless payments ecosystem is presently a series of “islands” with little-to-no mutual realization of value among the various constituents. The report indicates that the success of contactless solutions depends on some disruptive factor or wide-scale deployment that bridges the gaps and allows for value creation among all constituents that connects the islands."

Mobile Banking Updates - Sept 20

Microsoft and M-Com Deliver Mobile Payments Solution Globally
"Microsoft Corp. and M-Com today announced a solution offering that provides banks and payment processors with industry-leading mobile payments functionality -- creating more opportunities for banks to offer mobile payments services to their customers and maximize their revenue opportunities. This solution clearly demonstrates that consumer choice and deployment flexibility for banks are key to the success of global mobile payments solutions for the financial services industry. The announcement was made at Sibos 2009, the industry's premier global financial services forum."

OnPoint Community Credit Union chooses NFC micro-SD supplier Tyfone for mobile banking launch
"OnPoint Community Credit Union, Oregon's largest credit union with more than US$2.8bn in assets and 200,000 members, has selected Tyfone's u4ia platform as the infrastructure behind its mobile banking strategy. To begin with, the credit union will launch a range of 'standard' mobile banking services. MicroSD-based NFC contactless mobile payment capabilities are set to follow."

The ABCs (and Fs) of Mobile Banking
"I’m a pretty tech-savvy individual, but I have to admit I’ve only recently gotten into mobile banking. I thought I was arriving late to the party—I mean, I feel like I’ve been seeing commercials about online bill paying and text message updates forever. But a recent study suggests that, depending on your bank, the aforementioned party could be anything from a roof-raising shindig to a gaggle of freshmen playing board games, or it could be no party at all. ABI Research Inc. evaluated the mobile banking services of 29 of the nation’s biggest chains, in addition to some smaller banks, ranking the overall user friendliness with letter grades A through F."

US mobile banking giant buys Macalla Software
"US mobile roaming company Roamware, that has its eyes on the US$5bn global mobile banking market, has acquired Dublin software company Macalla for an undisclosed sum. Macalla’s m-commerce and mobile banking solutions are successfully deployed by banks and operators around the world; these solutions include adding prepaid minutes, credit transfers, international remittance, person-to-person transactions and bill payment."

TopUp LIME Mobile Phones at Western Union Locations in the United States
"LIME, the Caribbean's leading full service telecomms provider, and MoreMagic Solutions, a leading mobile payment solutions provider, announced today that friends and family of LIME customers, living outside the Caribbean, are now able to purchase TopUps and transfer the airtime to LIME phones, at Western Union Agent locations throughout the United States. C&W is
connected to the MoreMagic Solutions IRR Global Hub, in order to perform international TopUp transactions and settlements. From 46,000 retail locations, or the web at www.etopuponline.com, a customer can purchase a gift of prepaid airtime for a LIME mobile phone. Because MoreMagic Solutions offers daily foreign exchange (FX) without markup, LIME customers receive maximum airtime value at Western Union locations in the United States."

Mocapay closes funding round with $3.0 million
"Mocapay, that provides the only mobile commerce platform supporting integrated mobile payments, marketing and distribution at point-of-sale, announced Wednesday about securing of $3.0 million in funding from Spartan Mobile, Lacuna and other investors. Mocapay’s CEO Kevin Grieve said, that the company is delighted to have Spartan Mobile as the lead investor in this round and believes it will support actively Company’s guide."

Mobile Banking Updates - Dec 21st

CPNI Brings Mobile Person to Person Payments to the Unbanked
"In the latest release of their Phone Authorized Transfer™ (PAT™) mobile commerce software, CPNI Inc. (CPNI) announced today the ability to send money to people not yet registered for the service and the ability to send money to people without bank accounts. The functionality, offered by CPNI’s person to person mobile payment solution PATsend™, enables Financial Institutions to attract new customers with an entirely new service."

Tyfone Chip Offers Mobile-Pay Step for Banks and Consumers
"The mobile banking technology vendor Tyfone Inc. has come up with a way for consumers to install payments capabilities in their phones. Banks are eager to turn mobile phones into payments devices using near-field communication chips that can make a handset function like a contactless payment card, but only a handful of phones have the technology today. Tyfone's new NFC product, a platform called u4ia (pronounced "euphoria"), is integrated into a standard memory card that consumers can insert into mobile phones."

Smart Card Alliance Introduces New Contactless and Mobile Payments Tools for Merchants
"The Smart Card Alliance Contactless and Mobile Payments Council today introduced new tools for merchants accepting or thinking about accepting contactless and mobile payments. Merchants can now access a model to calculate return on investment (ROI) for accepting contactless payments, as well as an online discussion forum to interact with and ask industry experts questions and post comments about contactless and mobile payments."

Standard Chartered launches Mobile Phone Banking
"Standard Chartered has launched a new Mobile Banking service, allowing customers to have full transactional access to their UAE bank accounts conveniently and securely through mobile phones both in the UAE and abroad. The new service which works on all mobile phones will allow customers to view bank account and credit card details, transfer funds, top up mobile phone credit and more, all through their mobile phone."