Android's Mobile Dominance Fails to Simplify Bank App Development
"Google's Android mobile operating system has grown its market share lead, according to new data from Gartner. Indeed, the research firm says the platform accounts for 74.4% of smartphone units sold worldwide during the first quarter of 2013. Furthermore, Gartner found there are almost 50% more Android smartphones in the market than a year ago."
Chase Tops Keynote's Mobile Banking Ranking a Third Time
"JPMorgan Chase has yet again won a ranking of mobile banking apps. In this one, Keynote's semiannual mobile banking scorecard, Chase came in first for the third time in a row. Wells Fargo came in second and Bank of America third. In late April, Forrester dubbed Chase the best in mobile banking out of 15 large multinational banks, for the second time in a row. What does Chase do right to get the top nod so often?"
Banking Up Launches at FinovateSpring, Lets Any Business Offer Customers a Trusted Alternative to Traditional Banking
"Banking Up launches at FinovateSpring today a first-of-its-kind personal finance platform that lets banks and businesses provide customers with a smart, mobile alternative to traditional checking accounts. Along with the launch, Plastyc Inc., which developed Banking Up, announced that it is now doing business as Banking Up. Over 24 million households have poor access to mainstream banking, and 91 percent have mobile phones and smartphones, according to the FDIC. Banking Up gives banks and businesses a scalable way to provide customers in their local communities with an affordable, high-quality banking option."
Green Dot Sets July 4th Launch Of GoBank
"Green Dot, the provider of prepaid debit cards and other financial products, is looking to launch its big move into the mobile banking market on July 4th, the company said Tuesday afternoon. According to Green Dot, it plans to launch its service, GoBank, on Independence Day on iPhone, Android, and online--and also will be making a big, national push to market the service."
Is electronic banking killing the bank branch? PNC pares branches citing customers' online trends
"Another bank branch bites the dust. Three and counting among PNC Financial’s branches in Central Pennsylvania. Another ten PNC branches in Western Pennsylvania. And more to come, as banks evaluate their networks and analyze mobile banking and ATM trends. For so long, it seemed a bank branch was opening on every corner. That era might be coming to an end."
Showing posts with label Wells Fargo Bank. Show all posts
Showing posts with label Wells Fargo Bank. Show all posts
Wednesday, May 22, 2013
Thursday, January 10, 2013
International Mobile Banking Updates - Jan 10
Vietnam prepares for mobile banking push
"Vietnamese payment switch operator Smartlink has called in Singaporean vendor Tagit to help it build a mobile banking service. Tagit says that its Mobeix platform will be available to over 40 million card holders belonging to Smartlink's more than 50 member banks."
Asian corporates slow to adopt mobile banking despite consumer success
"The use of mobile phones to access account information has been gaining some level of popularity among retail consumers. Yet, despite the plausibility of scenarios drawn up by banks and the unambiguity of research results, an Asian response from corporate clients has yet to materialize. In 2007, North American Wells Fargo decided to introduce the service to its corporate clients as well – the first to do so among all the major banks. While many of its peers quickly drew up plans to jump on the bandwagon, the financial crisis refocussed their attention on more pressing issues."
Mobile Banking Use in U.S. Soars, Still Far Behind South Korea, India
"We learn that and much more from the latest Customer Loyalty in Retail Banking report just released by Bain & Company, a consultancy. The researchers have looked into 14 markets around the world and have surveyed 5,200 American consumers to gauge their traditional banking habits and attitudes toward newer channels, such as mobile banking. The report is full of interesting data, so I thought I should give you the bits and pieces I found most revealing of the current state of mobile banking in the U.S. I do, however, strongly encourage those of you who are in the m-payments industry to review the whole paper—there is a lot to be learned in it."
"Vietnamese payment switch operator Smartlink has called in Singaporean vendor Tagit to help it build a mobile banking service. Tagit says that its Mobeix platform will be available to over 40 million card holders belonging to Smartlink's more than 50 member banks."
Asian corporates slow to adopt mobile banking despite consumer success
"The use of mobile phones to access account information has been gaining some level of popularity among retail consumers. Yet, despite the plausibility of scenarios drawn up by banks and the unambiguity of research results, an Asian response from corporate clients has yet to materialize. In 2007, North American Wells Fargo decided to introduce the service to its corporate clients as well – the first to do so among all the major banks. While many of its peers quickly drew up plans to jump on the bandwagon, the financial crisis refocussed their attention on more pressing issues."
Mobile Banking Use in U.S. Soars, Still Far Behind South Korea, India
"We learn that and much more from the latest Customer Loyalty in Retail Banking report just released by Bain & Company, a consultancy. The researchers have looked into 14 markets around the world and have surveyed 5,200 American consumers to gauge their traditional banking habits and attitudes toward newer channels, such as mobile banking. The report is full of interesting data, so I thought I should give you the bits and pieces I found most revealing of the current state of mobile banking in the U.S. I do, however, strongly encourage those of you who are in the m-payments industry to review the whole paper—there is a lot to be learned in it."
Thursday, January 3, 2013
Mobile Banking Updates - Jan 3
Mobile Banking's Future to Include Voice Recognition, Wells Fargo's Ellis Says
"Steve Ellis will never forget the day it dawned on him that people would want to bank on their phones. "I was walking in San Francisco, I was on my BlackBerry and I walked in front of a bus," recalls Ellis, who is executive vice president and group head of the Wells Fargo Wholesale Services Group, which includes the Enterprise Payments Strategy, Technology Services, and Treasury Management groups, along with commercial loan services, customer analytics, marketing and communications, risk management, and mobile and social media strategies."
U.S. mobile banking soars 50% in 2011
"Mobile banking in the U.S. has soared 50% since 2011, according to a new global survey. Another survey found that marketing mobile banking can help credit unions and other financial institutions double the average adoption rates. And recent announcements indicate both credit unions and banks are taking advantage of mobile opportunities. Asia has the highest mobile banking penetration, but survey respondents in the U.S. reported the highest frequency of use--an average 4.9 mobile transactions in the previous three months, according to Bain & Company's annual "Customer Loyalty in Retail Banking Report" for 2012."
Mobile Banking: A Bonanza (or Bust) for Banks?
"Mobile is top priority for many banks. It gulps lots of money and management attention, and generates new risks. But the road ahead is blurry. We can visualize it much more clearly by checking the rearview mirror, observing how prior consumer payment innovations have played out – and what they have or haven't contributed to bank market shares and profitability."
Mobile banking will take time to catch on and pay off
"Banks shouldn’t count on a quick bonanza from mobile banking technology, the American Banker reports today. Why? In large part, because old habits die hard. '(C)onsumer transaction volume growth through new payment mechanisms is glacially slow, almost always much slower than projected.'"
Mobile banking innovation stimulates banks’ IT spending
"European banks are racing to catch up with the mobile services available in the US but remain twitchy about over-extending budgets. Despite a stagnating economy and the resource-draining process of adhering to thousands of pages of regulations, UK banks are investing time and money on mobile and internet technologies to improve customer services."
Mobile Banking, Identity Theft & Credit Reporting Agencies
"Twelve million mobile banking customers may sound like a satisfactory number, but Bank of America wants more. As part of a drive to sign up more people for mobile banking, the bank is outfitting its teller stations with quick response (QR) codes that can be scanned by mobile devices to download the mobile app. David Godsman, senior vice president of online and mobile solutions, says the teller station registration is part of a multi-pronged campaign to grow mobile banking. The bank’s current 12 million mobile subscribers are a fraction of its 58 million total consumer and business customers."
"Steve Ellis will never forget the day it dawned on him that people would want to bank on their phones. "I was walking in San Francisco, I was on my BlackBerry and I walked in front of a bus," recalls Ellis, who is executive vice president and group head of the Wells Fargo Wholesale Services Group, which includes the Enterprise Payments Strategy, Technology Services, and Treasury Management groups, along with commercial loan services, customer analytics, marketing and communications, risk management, and mobile and social media strategies."
U.S. mobile banking soars 50% in 2011
"Mobile banking in the U.S. has soared 50% since 2011, according to a new global survey. Another survey found that marketing mobile banking can help credit unions and other financial institutions double the average adoption rates. And recent announcements indicate both credit unions and banks are taking advantage of mobile opportunities. Asia has the highest mobile banking penetration, but survey respondents in the U.S. reported the highest frequency of use--an average 4.9 mobile transactions in the previous three months, according to Bain & Company's annual "Customer Loyalty in Retail Banking Report" for 2012."
Mobile Banking: A Bonanza (or Bust) for Banks?
"Mobile is top priority for many banks. It gulps lots of money and management attention, and generates new risks. But the road ahead is blurry. We can visualize it much more clearly by checking the rearview mirror, observing how prior consumer payment innovations have played out – and what they have or haven't contributed to bank market shares and profitability."
Mobile banking will take time to catch on and pay off
"Banks shouldn’t count on a quick bonanza from mobile banking technology, the American Banker reports today. Why? In large part, because old habits die hard. '(C)onsumer transaction volume growth through new payment mechanisms is glacially slow, almost always much slower than projected.'"
Mobile banking innovation stimulates banks’ IT spending
"European banks are racing to catch up with the mobile services available in the US but remain twitchy about over-extending budgets. Despite a stagnating economy and the resource-draining process of adhering to thousands of pages of regulations, UK banks are investing time and money on mobile and internet technologies to improve customer services."
Mobile Banking, Identity Theft & Credit Reporting Agencies
"Twelve million mobile banking customers may sound like a satisfactory number, but Bank of America wants more. As part of a drive to sign up more people for mobile banking, the bank is outfitting its teller stations with quick response (QR) codes that can be scanned by mobile devices to download the mobile app. David Godsman, senior vice president of online and mobile solutions, says the teller station registration is part of a multi-pronged campaign to grow mobile banking. The bank’s current 12 million mobile subscribers are a fraction of its 58 million total consumer and business customers."
Sunday, November 18, 2012
Mobile Banking Updates - Nov 18
PayAnywhere jumps into mobile-payment ring
"Square is on a roll, and PayPal's triangular device is gaining momentum. But a new national mobile-payment service thinks it has enough game to disrupt the fledgling market. In the past year, Detroit-based PayAnywhere has quietly amassed a formidable retail network — Walmart, Home Depot, Amazon, OfficeMax, Sam's Club, Sears and Kmart are among its partners — to sell its $9.95 mobile credit card readers to business merchants."
Bank of America, First Data unveil mobile credit-card processor
"A joint venture between Bank of America and Atlanta payment processor First Data is jumping into the game of turning smart phones and tablets into cashless pay stations. Atlanta-based Bank of America Merchant Services unveiled on Tuesday its Mobile Pay on Demand card readers and mobile applications, becoming the latest challenger in a crowded new niche for processing credit and debit cards for smaller businesses that want to be more mobile or ones that are new to electronic payments."
Visa Moves Banks To The Virtual Wallet
"Earlier this year we forecasted the need for big financial institutions to enter e-commerce as the credit card industry matures. Several tech companies had already entered into e-commerce as a challenge to traditional banking. Visa’s (V) mobile payment program, V.me, recently exited out of beta testing and has announced the cooperation of over 50 banks and credit unions with the service. V.me largely resembles Paypal (owned by eBay) by getting rid of the need to enter all those numbers on your credit card when you buy online. The program is entering an increasingly saturated “m-commerce market” that includes products from the Square, Mastercard (MA), Google (GOOG), eBay (EBAY), and American Express (AXP)."
Bank of America Mobilizes Merchants
"When it comes to mobile banking services, Bank of America has outrun its peers every time. While JPMorgan Chase, Wells Fargo, and Citigroup all offer a varied palette of mobile options, B of A consistently offers the most -- and updates these offerings regularly. Having excelled in the customer mobile offerings department, the bank is now moving into the retailer arena, offering a new way for merchants to turn their smartphones and tablets into roaming payment terminals. Though not a new idea, the dongle-based payment system will put B of A in the same space as payment giant Square, and tech biggie Apple."
Has Square Already Won America's Mobile Payments Race?
"Back in January 2011, Starbucks became the first national retailer to offer its own mobile payment technology combined with a loyalty program. It led to more than 100 million mobile transactions occurring in its U.S. stores since the launch. Now, in a move to push mobile commerce even further, Starbucks is accepting payments in some 7,000 retail locations via Square, Twitter co-founder Jack Dorsey's mobile payment app for iOS and Android smartphones."
Mobile Banking – More Than Everyday Transactions
"You may have noticed that much of the recent industry news around mobile banking has focused on everyday banking transactions. The message we’re seemingly inundated with is that online banking is only the first step, and that truly anywhere/anytime processing of everyday transactions like balance statements, transfers, as well as credit, payment and cheque processing can more easily be accomplished with mobile banking. What’s been missing from the story, though, is mobile banking’s significance to high-value transactions, like mortgage openings and those accompanying investment and wealth management."
"Square is on a roll, and PayPal's triangular device is gaining momentum. But a new national mobile-payment service thinks it has enough game to disrupt the fledgling market. In the past year, Detroit-based PayAnywhere has quietly amassed a formidable retail network — Walmart, Home Depot, Amazon, OfficeMax, Sam's Club, Sears and Kmart are among its partners — to sell its $9.95 mobile credit card readers to business merchants."
Bank of America, First Data unveil mobile credit-card processor
"A joint venture between Bank of America and Atlanta payment processor First Data is jumping into the game of turning smart phones and tablets into cashless pay stations. Atlanta-based Bank of America Merchant Services unveiled on Tuesday its Mobile Pay on Demand card readers and mobile applications, becoming the latest challenger in a crowded new niche for processing credit and debit cards for smaller businesses that want to be more mobile or ones that are new to electronic payments."
Visa Moves Banks To The Virtual Wallet
"Earlier this year we forecasted the need for big financial institutions to enter e-commerce as the credit card industry matures. Several tech companies had already entered into e-commerce as a challenge to traditional banking. Visa’s (V) mobile payment program, V.me, recently exited out of beta testing and has announced the cooperation of over 50 banks and credit unions with the service. V.me largely resembles Paypal (owned by eBay) by getting rid of the need to enter all those numbers on your credit card when you buy online. The program is entering an increasingly saturated “m-commerce market” that includes products from the Square, Mastercard (MA), Google (GOOG), eBay (EBAY), and American Express (AXP)."
Bank of America Mobilizes Merchants
"When it comes to mobile banking services, Bank of America has outrun its peers every time. While JPMorgan Chase, Wells Fargo, and Citigroup all offer a varied palette of mobile options, B of A consistently offers the most -- and updates these offerings regularly. Having excelled in the customer mobile offerings department, the bank is now moving into the retailer arena, offering a new way for merchants to turn their smartphones and tablets into roaming payment terminals. Though not a new idea, the dongle-based payment system will put B of A in the same space as payment giant Square, and tech biggie Apple."
Has Square Already Won America's Mobile Payments Race?
"Back in January 2011, Starbucks became the first national retailer to offer its own mobile payment technology combined with a loyalty program. It led to more than 100 million mobile transactions occurring in its U.S. stores since the launch. Now, in a move to push mobile commerce even further, Starbucks is accepting payments in some 7,000 retail locations via Square, Twitter co-founder Jack Dorsey's mobile payment app for iOS and Android smartphones."
Mobile Banking – More Than Everyday Transactions
"You may have noticed that much of the recent industry news around mobile banking has focused on everyday banking transactions. The message we’re seemingly inundated with is that online banking is only the first step, and that truly anywhere/anytime processing of everyday transactions like balance statements, transfers, as well as credit, payment and cheque processing can more easily be accomplished with mobile banking. What’s been missing from the story, though, is mobile banking’s significance to high-value transactions, like mortgage openings and those accompanying investment and wealth management."
Sunday, August 12, 2012
Mobile Banking Updates - Aug 12
Wells Fargo Again Named Best Internet Bank in U.S.
"In its 13th annual World’s Best Internet Banks competition for North America, Global Finance magazine also recognized Wells Fargo, among corporate/institutional banks, as Best Mobile Banking (for the second consecutive year), Best Online Treasury Services, and Best Web Site Design."
Bank of America Is Going (More) Mobile
"Mobile banking is gaining in popularity, and banks are beginning to take notice. One of these forward-looking institutions is Bank of America (NYS: BAC) , and it has just taken a great stride toward maintaining its leading position in this arena. Hot on the heels of an announcement that B of A would be closing more ATMs nationwide came the good news: The bank would soon be rolling out updated mobile banking apps for Apple's (NAS: AAPL) iPad and iPhone, as well as for Google's Android-based tablets and smartphones."
Chase App Makes Mobile Banking Easier With 24 Month Transaction Display, Access to Chase Liquid Acounts, and More
"While other mobile banking applications are just now receiving features such as deposit scanning, Chase is moving onward and upward, updating their Android app with new features and enhancements."
How Mobile is Reshaping Every Banking Channel
"The emergence of new banking channels has significant implications for financial institutions, particularly when it comes to cross-channel information and service delivery. Financial institutions have to have a strategic plan to not only deliver appropriate capabilities through the appropriate channels, but to make sure the channels work together in a complementary fashion."
"In its 13th annual World’s Best Internet Banks competition for North America, Global Finance magazine also recognized Wells Fargo, among corporate/institutional banks, as Best Mobile Banking (for the second consecutive year), Best Online Treasury Services, and Best Web Site Design."
Bank of America Is Going (More) Mobile
"Mobile banking is gaining in popularity, and banks are beginning to take notice. One of these forward-looking institutions is Bank of America (NYS: BAC) , and it has just taken a great stride toward maintaining its leading position in this arena. Hot on the heels of an announcement that B of A would be closing more ATMs nationwide came the good news: The bank would soon be rolling out updated mobile banking apps for Apple's (NAS: AAPL) iPad and iPhone, as well as for Google's Android-based tablets and smartphones."
Chase App Makes Mobile Banking Easier With 24 Month Transaction Display, Access to Chase Liquid Acounts, and More
"While other mobile banking applications are just now receiving features such as deposit scanning, Chase is moving onward and upward, updating their Android app with new features and enhancements."
How Mobile is Reshaping Every Banking Channel
"The emergence of new banking channels has significant implications for financial institutions, particularly when it comes to cross-channel information and service delivery. Financial institutions have to have a strategic plan to not only deliver appropriate capabilities through the appropriate channels, but to make sure the channels work together in a complementary fashion."
Sunday, July 8, 2012
Mobile Banking Updates - Jul 7
High-Maintenance Gen Y Bank Customers
"The prevailing preference of Gen Y consumers for digital channels and electronic everything has led to the assumption that this generation is among the easiest for a financial institution to serve. Just give them access to online banking and a decent mobile app and they will serve themselves, right? Not exactly. Gen Y consumers (ages 18-32) can be high maintenance when it comes to their financial management habits."
The Mobile Banking Imperative
"Consumers are increasingly using mobile devices as banking tools — for everything from alerts and payments to budgeting and shopping. Indeed, mobile banking is no longer a value-added point of differentiation for banks and credit unions. It is fast becoming a basic consumer expectation."
SMALL BUSINESS MOBILE New channel could quickly catch on
"While about a third of small businesses currently use mobile banking, that’s likely to increase to 54% by 2015 according to Aite research. Banks need to be ready and able not only to offer the mobile channel to their commercial customers, but to tailor it with added value so that businesses would actually be willing to pay for the product. Tech Topics talks with Christine Barry, the Aite researcher who wrote the report 'Small-Business Mobile Banking: A Promising Opportunity.'"
Wells Fargo testing mobile deposit service in Nebraska
"Customers in Nebraska are among the first to get to test Wells Fargo's new mobile deposit service. The bank, one of the nation's largest, rolled out the service to customers in Nebraska, Kansas and the San Francisco Bay area last week after earlier launching it in Arizona and Washington. Wells Fargo customers can use the service through its mobile banking app. The app is available for Apple and Android-supported devices."
CUA launches mobile app
"CUA has launched a mobile banking platform with a mobile app for iPhones and Androids. The mobile app is part of the financial institution's broader strategy to extend and enhance services for customers. 'CUA Online Banking for Mobile is the first deliverable in a series of service enhancements that we will be rolling out to customers over the coming two years, as part of our core banking transformation program. This program will ultimately deliver a far superior and streamlined online banking experience,' Darrin Northey, CUA’s group general manager, distribution, said in a statement."
Essential Design Patterns For Mobile Banking
"Despite a great deal of mobile innovation, many creators of financial apps still copy their interface patterns from the desktop Web, even though these patterns are not as well suited to the mobile space. Small screens, custom controls, divided attention and fat fingers demand different thinking when designing for mobile."
"The prevailing preference of Gen Y consumers for digital channels and electronic everything has led to the assumption that this generation is among the easiest for a financial institution to serve. Just give them access to online banking and a decent mobile app and they will serve themselves, right? Not exactly. Gen Y consumers (ages 18-32) can be high maintenance when it comes to their financial management habits."
The Mobile Banking Imperative
"Consumers are increasingly using mobile devices as banking tools — for everything from alerts and payments to budgeting and shopping. Indeed, mobile banking is no longer a value-added point of differentiation for banks and credit unions. It is fast becoming a basic consumer expectation."
SMALL BUSINESS MOBILE New channel could quickly catch on
"While about a third of small businesses currently use mobile banking, that’s likely to increase to 54% by 2015 according to Aite research. Banks need to be ready and able not only to offer the mobile channel to their commercial customers, but to tailor it with added value so that businesses would actually be willing to pay for the product. Tech Topics talks with Christine Barry, the Aite researcher who wrote the report 'Small-Business Mobile Banking: A Promising Opportunity.'"
Wells Fargo testing mobile deposit service in Nebraska
"Customers in Nebraska are among the first to get to test Wells Fargo's new mobile deposit service. The bank, one of the nation's largest, rolled out the service to customers in Nebraska, Kansas and the San Francisco Bay area last week after earlier launching it in Arizona and Washington. Wells Fargo customers can use the service through its mobile banking app. The app is available for Apple and Android-supported devices."
CUA launches mobile app
"CUA has launched a mobile banking platform with a mobile app for iPhones and Androids. The mobile app is part of the financial institution's broader strategy to extend and enhance services for customers. 'CUA Online Banking for Mobile is the first deliverable in a series of service enhancements that we will be rolling out to customers over the coming two years, as part of our core banking transformation program. This program will ultimately deliver a far superior and streamlined online banking experience,' Darrin Northey, CUA’s group general manager, distribution, said in a statement."
Essential Design Patterns For Mobile Banking
"Despite a great deal of mobile innovation, many creators of financial apps still copy their interface patterns from the desktop Web, even though these patterns are not as well suited to the mobile space. Small screens, custom controls, divided attention and fat fingers demand different thinking when designing for mobile."
Wednesday, March 7, 2012
Mobile Banking Security - Mar 7
Mobile Banking ID Theft Risks Become Clear
"Younger customers, who are more confident about posting personal details and among the heaviest smartphone users, are particularly at risk. But while the incidence of identity theft is increasing, cost to consumers has stayed about steady, according to Javelin Strategy & Research's 2012 identity fraud report. 'We know the risks are still prevalent, but when you look at improved response time and reduced cost for consumers, as well as increased consumer awareness, the banks … have done a good job with education,' says Robert Dudacek, senior vice president for Wells Fargo & Co. insurance."
Be savvy about mobile banking safety
"As consumers become more comfortable with mobile payment technology, they also need to become more concerned about the security of their transactions. 'Security of your transactions is one of the biggest issues, especially with mobile payments,' said Jerry O’Flanagan, chief credit officer for First National Bank of Omaha."
"Younger customers, who are more confident about posting personal details and among the heaviest smartphone users, are particularly at risk. But while the incidence of identity theft is increasing, cost to consumers has stayed about steady, according to Javelin Strategy & Research's 2012 identity fraud report. 'We know the risks are still prevalent, but when you look at improved response time and reduced cost for consumers, as well as increased consumer awareness, the banks … have done a good job with education,' says Robert Dudacek, senior vice president for Wells Fargo & Co. insurance."
Be savvy about mobile banking safety
"As consumers become more comfortable with mobile payment technology, they also need to become more concerned about the security of their transactions. 'Security of your transactions is one of the biggest issues, especially with mobile payments,' said Jerry O’Flanagan, chief credit officer for First National Bank of Omaha."
Sunday, January 15, 2012
Mobile Banking Updates - Jan 15
Last Year Witnessed a Mobile Banking Lift Off
"In the span of just 12 months, a revolution in financial transactions has occurred. Mobile banking has shifted from nice to have to must have at credit unions across the country as a stampede of institutions have embraced the idea that members demand the convenience of banking from the palm of their hands."
Wells Fargo Mobile(R) Banking Application Now Available from Amazon Appstore for Android
"Wells Fargo customers who use Android-powered smartphone and tablet devices, like the new Kindle Fire, can now keep track of their finances while on the go with Wells Fargo Mobilebanking services. Wells Fargo & Company WFC +0.20% announced today its new Wells Fargo Mobile banking app for Android is available for download from the Amazon Appstore for Android."
The Path to SmartPhone Banking Apps
"Despite mobile banking's growth, many financial institutions still view it as a cost rather than a revenue opportunity. In this roundtable we discuss how banks can speed up adoption rates and increase profit margins, and where deployment of apps fits into the strategy."
Voice controlled mobile banking is the future
"Most Brits will use voice commands to carry out certain banking tasks on their mobile phones following the success of Siri in prompting the take up of voice activation services. Digital banking software maker Intelligent Environments has pieced together the trends in technology and banking and come to the conclusion that voice-activated digital banking could become mainstream in 2014."
First National Bank of Santa Fe Launches Mobile Banking Solution. Teams With Intuit Financial Services to Provide Customers Access to their Accounts Anytime, Anywhere.
"First National Bank of Santa Fe is teaming with Intuit Financial Services to offer consumer mobile banking, allowing customers the ability to access account balances, make transfers, view transaction history and pay bills via a mobile web browser, text messaging or iPhone and Android Apps."
"In the span of just 12 months, a revolution in financial transactions has occurred. Mobile banking has shifted from nice to have to must have at credit unions across the country as a stampede of institutions have embraced the idea that members demand the convenience of banking from the palm of their hands."
Wells Fargo Mobile(R) Banking Application Now Available from Amazon Appstore for Android
"Wells Fargo customers who use Android-powered smartphone and tablet devices, like the new Kindle Fire, can now keep track of their finances while on the go with Wells Fargo Mobilebanking services. Wells Fargo & Company WFC +0.20% announced today its new Wells Fargo Mobile banking app for Android is available for download from the Amazon Appstore for Android."
The Path to SmartPhone Banking Apps
"Despite mobile banking's growth, many financial institutions still view it as a cost rather than a revenue opportunity. In this roundtable we discuss how banks can speed up adoption rates and increase profit margins, and where deployment of apps fits into the strategy."
Voice controlled mobile banking is the future
"Most Brits will use voice commands to carry out certain banking tasks on their mobile phones following the success of Siri in prompting the take up of voice activation services. Digital banking software maker Intelligent Environments has pieced together the trends in technology and banking and come to the conclusion that voice-activated digital banking could become mainstream in 2014."
First National Bank of Santa Fe Launches Mobile Banking Solution. Teams With Intuit Financial Services to Provide Customers Access to their Accounts Anytime, Anywhere.
"First National Bank of Santa Fe is teaming with Intuit Financial Services to offer consumer mobile banking, allowing customers the ability to access account balances, make transfers, view transaction history and pay bills via a mobile web browser, text messaging or iPhone and Android Apps."
Tuesday, November 8, 2011
Mobile Banking Updates - Nov 8
RBS Citizens Presents Mobile App Case Study to Senior Financial Executives in Pittsburgh on November 8th
"On November 8, RBS Citizens will present a case study on its accessMOBILE(TM) smart phone banking app for commercial clients at the Financial Executives International meeting in Pittsburgh. During the presentation, Matt Richardson, head of Product Solutions U.S., GTS Americas, RBS Citizens, will discuss the development and launch of the application and the bottom-line results that both small- and mid-size organizations have realized since downloading."
Report Shows U.S. Mobile-Banking Use Is Up 45% Since End Of Year
"Use of mobile financial services rose sharply during the second quarter compared with the end of last year, according to comScore’s latest mobile banking adoption research. Some 32.5 million Americans accessed banking information using mobile devices during the quarter, representing 13.9% of all mobile-phone users, the survey found. Of that total, 12.7 million mobile subscribers used mobile banking applications, up 45% from the fourth quarter of 2010."
Wells Fargo CEO Mobile Deposit Service Makes Banking Easier for Commercial and Corporate Customers
"Wells Fargo & Company WFC +0.08% said today it has launched the CEO Mobile(R) Deposit service, designed specifically for commercial and corporate banking customers. The CEO Mobile Deposit service is accessible by downloading the CEO Mobile iPhone App at the iTunes store. The new service allows customers to capture check and money order images and deposit funds, using an iPhone (3GS and above), to their Wells Fargo commercial and corporate bank accounts anywhere, anytime."
Visa Europe acquires 8.8% stake in mobile banking and payments platform Monitise
"UK-based mobile banking, payments, and commerce provider Monitise has received a £24.7m strategic investment from Visa Europe, the membership association comprising more than 4,000 European banks. Visa Europe operates independently from Visa Inc. since the latter's IPO in 2007.
Monitise offers white-label, platform-agnostic mobile money software and services to banks and financial institutions. Its partners include Visa Inc. in the US, RBS Technology Services in the UK and the US, Hong Kong bank-consortium JETCO, Visa International in India, and the Central Bank of Nigeria, which recently granted Monitise a license to provide mobile payments platforms to banks."
Natwest 'glitch' downs phone and internet banking
"Natwest's phone, mobile and internet banking systems have been downed by an IT problem and account balances have not updated overnight. The system was due to undergo maintenance between 01:00am and 4:30am on Saturday morning, but a fault occurred and the systems are not accessible, Natwest press officer Michael Strachan told ZDNet UK on Saturday."
"On November 8, RBS Citizens will present a case study on its accessMOBILE(TM) smart phone banking app for commercial clients at the Financial Executives International meeting in Pittsburgh. During the presentation, Matt Richardson, head of Product Solutions U.S., GTS Americas, RBS Citizens, will discuss the development and launch of the application and the bottom-line results that both small- and mid-size organizations have realized since downloading."
Report Shows U.S. Mobile-Banking Use Is Up 45% Since End Of Year
"Use of mobile financial services rose sharply during the second quarter compared with the end of last year, according to comScore’s latest mobile banking adoption research. Some 32.5 million Americans accessed banking information using mobile devices during the quarter, representing 13.9% of all mobile-phone users, the survey found. Of that total, 12.7 million mobile subscribers used mobile banking applications, up 45% from the fourth quarter of 2010."
Wells Fargo CEO Mobile Deposit Service Makes Banking Easier for Commercial and Corporate Customers
"Wells Fargo & Company WFC +0.08% said today it has launched the CEO Mobile(R) Deposit service, designed specifically for commercial and corporate banking customers. The CEO Mobile Deposit service is accessible by downloading the CEO Mobile iPhone App at the iTunes store. The new service allows customers to capture check and money order images and deposit funds, using an iPhone (3GS and above), to their Wells Fargo commercial and corporate bank accounts anywhere, anytime."
Visa Europe acquires 8.8% stake in mobile banking and payments platform Monitise
"UK-based mobile banking, payments, and commerce provider Monitise has received a £24.7m strategic investment from Visa Europe, the membership association comprising more than 4,000 European banks. Visa Europe operates independently from Visa Inc. since the latter's IPO in 2007.
Monitise offers white-label, platform-agnostic mobile money software and services to banks and financial institutions. Its partners include Visa Inc. in the US, RBS Technology Services in the UK and the US, Hong Kong bank-consortium JETCO, Visa International in India, and the Central Bank of Nigeria, which recently granted Monitise a license to provide mobile payments platforms to banks."
Natwest 'glitch' downs phone and internet banking
"Natwest's phone, mobile and internet banking systems have been downed by an IT problem and account balances have not updated overnight. The system was due to undergo maintenance between 01:00am and 4:30am on Saturday morning, but a fault occurred and the systems are not accessible, Natwest press officer Michael Strachan told ZDNet UK on Saturday."
Wednesday, November 10, 2010
Mobile Banking Security
Banks Rush to Fix Security Flaws in Wireless Apps
"A number of top financial companies and banks such as Wells Fargo & Co., Bank of America Corp. and USAA are rushing out updates to fix security flaws in wireless banking applications that could allow a computer criminal to obtain sensitive data like usernames, passwords and financial information."
Our Mobile-Banking Warnings about Security Prove Prophetic
"Not to be gauche, but in 2009 you saw the Internet security warning here first. Mobile banking is so risky an IT security guru said don’t do it. That was the online security warning on Sept. 7 from the authoritative Dr. Stan Stahl of Citadel Information Group in Los Angeles. Dr. Stahl’s analysis in my column included this stern warning: 'All in all, cell phone on-line banking is a big NO!!!'”
How Vulnerable Are Mobile Apps?
"Late last week, security firm viaForensics announced it had discovered security vulnerabilities in mobile banking smart-phone apps for Google's Android and Apple's iPhone. Apps from Bank of America, Chase, TD Ameritrade, USAA, Wells Fargo and Vanguard were all targeted by the firm. "
USAA's Mobile Banking: Security is a Top Priority
"The Wall Street Journal has reported potential security issues with some of the latest mobile banking applications. A digital forensics firm, viaForensics, collaborating with The Journal, tested banking apps from at least seven financial institutions. viaForensics found that USAA's Mobile App on the iPhone® passed all tests and is secure. However, viaForensics identified a potential vulnerability within USAA's application on the Android™."
"A number of top financial companies and banks such as Wells Fargo & Co., Bank of America Corp. and USAA are rushing out updates to fix security flaws in wireless banking applications that could allow a computer criminal to obtain sensitive data like usernames, passwords and financial information."
Our Mobile-Banking Warnings about Security Prove Prophetic
"Not to be gauche, but in 2009 you saw the Internet security warning here first. Mobile banking is so risky an IT security guru said don’t do it. That was the online security warning on Sept. 7 from the authoritative Dr. Stan Stahl of Citadel Information Group in Los Angeles. Dr. Stahl’s analysis in my column included this stern warning: 'All in all, cell phone on-line banking is a big NO!!!'”
How Vulnerable Are Mobile Apps?
"Late last week, security firm viaForensics announced it had discovered security vulnerabilities in mobile banking smart-phone apps for Google's Android and Apple's iPhone. Apps from Bank of America, Chase, TD Ameritrade, USAA, Wells Fargo and Vanguard were all targeted by the firm. "
USAA's Mobile Banking: Security is a Top Priority
"The Wall Street Journal has reported potential security issues with some of the latest mobile banking applications. A digital forensics firm, viaForensics, collaborating with The Journal, tested banking apps from at least seven financial institutions. viaForensics found that USAA's Mobile App on the iPhone® passed all tests and is secure. However, viaForensics identified a potential vulnerability within USAA's application on the Android™."
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