Mobile Banking Updates - Sept 4

Fast-Growing Companies in 2012: Technology
"Mobile banking technology developer mFoundry has announced a number of notable additions to its list of clients this year, following an $18 million infusion of growth capital in late 2011. The Larkspur-based firm, launched in 2004, currently provides cloud-based mobile banking and payments to over 700 banks and credit unions nationwide and one-third of the top 50 financial institutions in the United States. The company reports 10 million users, and also operates the Starbucks Card Mobile platform for Starbucks Coffee Company."

For Popular of Illinois, Small-Business Mobile Banking Is All About Entitlements
"To provide mobile banking for their small-business clients, some banks recast and remarket their consumer mobile banking programs rather than create something new. The critical piece that such an approach lacks is entitlements — giving the small-business owner a say in who can do what in the business account, says Javier Reyes, vice president, manager of cash management services for Popular Community Bank, Chicago. The bank last week launched a homegrown small-business banking application."

Want banking innovation? Stop hiring bankers!
"The shifting landscape of providers offering banking services is likely to force the (till date) in-bred banking sector to make acquisitions outside, bringing in leaders with techno-business backgrounds at the helm of bread-and-butter businesses divisions rather than just at the fringes (e.g. "Head of Mobile Banking") as has been the case so far. From being the "electronic data processing" department, technology in banks has come a long way."

How Mobile Is Changing Community Banks
"Some community banks are quickly leveling the playing field with larger ones in the mobile channel, introducing services like mobile remote deposit capture and mobile P2P almost immediately after (or sometimes even before) the bigger banks get around to it. But mobile is also changing the traditional value proposition of a community bank where you walk through the branch door and everyone knows you. Instead of going to the branch, people are using their mobile devices for simple transactions, potentially making it more difficult for community banks to deliver the personal touch that is at the heart of their value to the customer."

Numbers: Sunny Outlook for Mobile Banking (U.S.)
"ComScore's latest mobile usage numbers provide useful context as you head in to the 2013 business planning cycle. With 42 million monthly smartphone users, mobile banking penetration (38%) is similar to other specialized information services such as sports (39%), news (49%), and movie info (30%)."

SunTrust updates smartphone app to accept mobile deposits
"In keeping step with banking giants Bank of America, Wells Fargo and First Tennessee, SunTrust Banks Inc. has released an update to its mobile banking smartphone app to include mobile deposits. Using their smartphone’s camera, SunTrust (NYSE: STI) customers can now take a picture of the front and back of their checks to submit them for deposit."

Do Banks Really Need To "Own" Mobile Banking?
"Australian Banks have often been at the forefront of global banking trends, or at the very least, fast followers that learn quickly from the mistakes of others. In Australia, mobile banking has quickly become a "war" amongst the majors with a range of different banking services and approaches - from basic access to transactional histories, transfers, payments, integrated retail services, and even near-field-communications-based micro-payments systems. But how much of the mobile banking channel do banks really need to own? Most banks no longer own or operate their own ATM networks. They control the flow of transactions through that channel, but they generally have little to no interest in owning the assets or operating ATM cash management processes."

Mobile Banking Updates - Feb 5

FIS and mFoundry Strengthen Relationship
"mFoundry, the fastest-growing provider of mobile banking and payments solutions, today announced that it has strengthened its strategic relationship with FIS™, the world’s largest provider of banking and payments technology.

With a recent investment, FIS increased its ownership holdings in mFoundry. The two companies have been working together on mobile banking solutions for the past several years, serving more than 200 financial institution clients. The enhanced relationship will continue to combine FIS’ strong position in financial services technology with mFoundry’s award-winning mobile banking products."

Mobile banking app usage grows 74 percent in a year: comScore
"The use of mobile banking apps is growing quickly as consumers look for ways to easily access their financial information while on the go, according to a new report from comScore. While the 2011 State of Online and Mobile Banking report shows that app usage among mobile bankers is up 74 percent from nearly a year ago, it also indicates there is still significant room for usage to grow. The report also shows that mobile bankers are highly engaged customers."

Smartphones let customers bank on the go
"Smartphones are here to stay, and banking institutions are working to keep up with new technology to cater to their customers. Brian Pearce, Wells Fargo senior vice president and head of the bank's retail mobile channel, describes the growth in mobile banking over the past five years as explosive. 'Customers are adopting this mobile lifestyle,' Pearce said. Wells Fargo finished 2011 with 7.3 million customers using mobile banking services."

Review: What Corporate Mobile Banking Will Really Mean For Your Bank
"I’m just back from the US where I was presenting at our Corporate Mobile Banking event. Unsurprisingly, given the topic, we had a very high level of interest, resulting in a large number of registrations. We also had a first for me - a gate crasher who had to be ejected! Many thanks to all those who attended and who made the event the success it was. I’d particularly like to thank my colleagues Dana and Erica who made it run so smoothly."

Mobile Banking Updates - Jan 10

Vendors Give Browser-Based Mobile Banking Apps a Facelift
"Banking applications for iPhone, iPad, Android, BlackBerry and other mobile devices are growing fast, but not all consumers are keen to download specialized apps from their bank. Some prefer to bank using just a web browser on their device.

ComScore, a firm that measures digital commerce, says that in the first half of 2011, mobile app usage for banking information increased from 8.7 million users to 12.7 million users. Browser usage for banking information increased at a slower rate, but is still larger than the app market-expanding from 15.4 million to 17.5 million users."

E*TRADE Launches Mobile Deposit for iPhone(R)
"E*TRADE Financial Corporation ETFC today announced that E*TRADE Securities LLC has introduced mobile deposit for iPhone, enabling customers to electronically deposit checks to their brokerage or E*TRADE Bank accounts remotely with the use of their iPhone camera."

IBC Bank Enhances Its Mobile Banking Offerings
"IBC Bank has expanded its mobile banking program by adding Bill Pay functionality to IBC Mobile. The service is accessible via www.ibc.mobi from any device that can connect to the Web -- including all Androids, Blackberries, and iPhones. The added technology launched this week and is a convenient alternative to the downloadable apps currently available that are uniquely designed for the operating systems of specific mobile devices."

Brookline Bank Selects Jack Henry Banking to Provide Enterprise-Wide Automation
"Jack Henry & Associates, Inc. is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Its Jack Henry Banking(TM) division announced today that Brookline Bank has selected its SilverLake core processing system to provide enterprise-wide automation. This Massachusetts-based bank holding company will implement SilverLake and more than 13 of Jack Henry Banking's integrated complementary solutions, including the jhaPassPort(TM) ATM and debit card transaction processing platform and iPay Consumer Online Bill Pay(TM), through the company's outsourced offering."

Small local bank plays big in mobile world
"Kourtney Houle is a doctor of family medicine. She also has two children younger than the age of 2 — a 16-month-old and a 7-week-old. The combination keeps her pretty busy. That’s why she appreciates the capabilities of mobile banking. 'You learn to multitask when you’re holding a baby and trying to cook dinner,' said Houle, whose family recently took out a loan to build a home in St. Augusta. 'I can make a payment on my phone and look up anything on our other accounts. Anything that can make life easier, I’m on board with.'”

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."

Mobile Banking Updates - Sept 25

Mobile's Soft Launch
"Most banks have gotten the message: having a strategy to build out mobile banking is a necessity. But while a substantial percentage of banks are plotting moves into downloadable apps and other services available on smartphones, they're still not vigorously pushing the channel."

comScore: “Mobile Banking Up 21% Since March 2011″
"Research firm comScore came out with some Canadian mobile stats a couple months back, all based on March 2011 numbers. At the time they stated that “12.3 percent of Canadian mobile subscribers accessed banking. During the CWTA Wireless Showcase comScore presented some updated numbers and the trend continued – mobile usage is increasing. You can see some of the previous stats we posted here, mainly about OS market share and how Apple, RIM, HTC and Samsung are all battling it out."

Smaller banks join mobile banking trend
"Banks like Bank of America and JPMorgan Chase led the charge into mobile banking, but now a growing number of smaller financial institutions are following suit. Mobile banking can enable consumers to do things like check account balances, transfer funds or even make deposits through text messages, mobile applications on smartphones or tablet computers, or on websites designed specifically for mobile use."

Mobile Banking the Latest High-Touch Benefit Available to Members of TopLine
"TopLine Federal Credit Union has announced that state-of-the-art mobile banking is the latest high-touch, high tech benefit now available for members who use web-enabled phones/devices. It's easy and even fun to use and appears to be an immediate hit with members. Just launched on August 23rd the rate of use is much higher than TopLine anticipated and already higher than the national average."

Isis Finds Tech, Seeks Banks
"Isis and Google are both vigorously bulking up on innovation to turn leather consumer wallets into digital ones, but they have their work cut out for them. As in a lot of new and alternative financial services ventures, integration with traditional banks will be the most elusive, and most necessary, step to success."

comScore Reports January 2010 U.S. Mobile Subscriber Market Share

"comScore, Inc. (NASDAQ: SCOR), a leader in measuring the digital world, today released data from the comScore MobiLens service, reporting key trends in the U.S. mobile phone industry during the three month period between October 2009 and January 2010. The report ranked the leading mobile original equipment manufacturers (OEMs) and smartphone operating system (OS) platforms in the U.S. according to their share of current mobile subscribers age 13 and older, as well as popular activities and content accessed via the subscriber’s primary mobile phone. The January report found Motorola to be the top handset manufacturer overall with 22.9 percent market share, while RIM led among smartphone platforms with 43.0 percent market share." >> Continue Reading

Mobile Banking Report from comScore

GoMo News posted snippits of a recent comScore report this morning. Interesting, 31% of mobile banking users access the service while at home (ie sitting next to their pc). Continue reading >>