Card.com: A Startup Making Finance More Fun (And Fair)

"Since recovery from recession has been slow and as financial health has become more top-of-mind for most Americans, trying to make less money pay for more — financial technology has helped some to move forward.

Mobile banking options have become appealing to a large swath of Americans, who want to access funds instantly, without having to wait, or who simply want to avoid late fees, hidden fees, and overdraft charges." Continue Reading

Study: Online Banking and Mobile Apps Do Not Reduce Importance of the Branch Network

"CFI Group, a global leader in providing customer feedback insights through analytics, released its inaugural Bank Satisfaction Barometer (BSB) today, finding that the number one reason consumers choose their banking institution is access to a convenient branch location. A recommendation from friends comes in as the second reason at 21 percent, while web and mobile banking capabilities come in dead last at two percent." Continue Reading

This One Stat Will Convince You Mobile Banking Matters

"In case there was any question, recent research confirms mobile isn't going anywhere anytime soon: By 2017, smartphones are predicted to account for a whopping 82 percent of the cell phone market, up from the 50 percent today.

For banks and FIs, this growing smartphone user base means consumers are going to increasingly expect not only mobile banking services, but mobile banking services that go the extra mile, offering features and functionality that enable them to navigate their financial lives with the same ease as their smartphone itself." Continue Reading

Mobile Money Fails the Mom Test

"A few weeks ago, my mother, seemingly at random, decided to extol the virtues of a bank innovation circa 1970. 'I love having a debit card,' she said, while getting ready to leave the house. 'Really, mom, a debit card?' I replied. 'Yes,' she said. I turned to see she was holding a deposit envelope. 'I use the ATM for everything. I never have to go into a bank.'" Continue Reading

Smarter Digital Banking Channels Drive Higher Customer Satisfaction and Revenue

"Digital banking channels — both online and mobile — offer big benefits to the customer and financial institutions. An intuitive digital banking environment gives the customer 24/7 access and insight into his or her financial status and the ability to initiate transactions, answer their own questions and sign up for new products and services at will, from anywhere in the world.

Banks of course are providing a unique set of services that improve customer satisfaction while reducing overall customer service costs. When done correctly, it can be a win-win for everyone involved and improves customer loyalty and the likelihood that customers will sign up for additional banking products and services from the financial institutions with the best digital banking experiences." Continue Reading

The Ultimate Mobile Banking Experience: Personalization

"What makes for the ultimate mobile banking experience? It’s more than 24-hour access and offering the same online services remotely. It’s not even about recreating the branch experience. It’s about exceeding expectations, offering convenience, saving time and money and giving people the advice they need when they need it.

Mobile phones, and tablets applications can actually offer more insight than a local teller and the interface can lend itself to sharing up-to-date personal stats and timely notifications that a banking customer may need to know about. The ultimate mobile banking experience is about anticipating the customer’s next need and proactively offering smart assistance. Sound impossible? It’s not." Continue Reading

Mobile Banking Updates - May 7

Convenience No. 1 Factor In Customer Loyalty for Banks, Study Finds
"Customers want convenience more than any other attribute from their banking experience, according to a new online survey by Harris Interactive for Yodlee Interactive, an online banking solutions provider. The survey of 2,219 banking customers found that 63% of those surveyed said they stay with their current because of convenience. Customer service and low fees ranked next behind convenience, with 48% and 42% of the vote, respectively. And 33% of the respondents who use mobile banking said that their mobile banking experience is one of the reasons they stay with their banks."

Fiserv Names Jim Tobin Senior Vice President and General Manager, Mobile Solutions
"Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Jim Tobin has joined the company as senior vice president and general manager, Mobile Solutions, Digital Channels. In this role, Tobin will be responsible for the strategic direction and day-to-day oversight of the market-leading Mobiliti™ mobile banking and payments solution from Fiserv. Mobiliti currently supports mobile banking, alerting and payments services for more than 1,000 financial institutions and millions of consumers in North America, Asia, the Pacific, the Middle East and Europe."

Mobile remote deposit capture adoption exceeds bank's expectations
"American Savings Bank is the first Hawaiian bank to introduce mobile remote deposit capture, a feature whereby depositing money into an account can be done simply by taking a photo of a check. Rick Robel, Executive Vice President of Operations at American Savings Bank, says that customer adoption of the mobile feature has "exceeded all expectations". Within the first month of the November 2012 launch, the bank achieved first year adoption goals and within two and half months their two-year adoption goals had been met. In March, 2013, mobile deposits with the bank soared by 40%."

Augmented Reality in FS - got your goggles?
"‘Mobile banking’ is not a very precise term. Today, we know it as meaning using your mobile phone for banking. However, back in the late 1990s, all that it meant was SMS banking. If your bank was particularly advanced, it may also have meant a WAP-based mobile banking service. It has only been since the launch of smartphones in the mid-2000s, that ‘mobile banking’ has come to mean a browser- or mobile app-based banking service."

Mobile Services Compared: Which Banks Are Setting the Trend?
"According to comScore, there were 133.7 million Americans with smartphones in February 2013, up from 104 million one year ago. As smartphones become necessities for Americans, banks have increased their focus on mobile banking, especially mobile banking applications. It has never been easier for bank customers to manage their money on-the-go. But, not every bank is able to deliver a feature-packed mobile banking experience as others might. With time, more and more consumers will consider mobile banking features in their decisions to choose a new bank."

Mercator Banking Channels Report: Mobile Banking Deployment: Partnering and Outsourcing
"In new research, Mobile Banking Deployment: Partnering and Outsourcing, Mercator Advisory Group reviews how the pace of innovation in mobility has caused financial institutions to consider new ways of bringing new mobile banking products to market efficiently and effectively."

Security Solution Provider Arxan to Lead Panel Discussion on Protecting Mobile Banking and Financial Apps at the FS-ISAC & BITS Annual Summit 2013
"Arxan Technologies, the leading provider of software security solutions that protects the global App Economy, announced today that Vince Arneja, Arxan's vice president of product management, will lead a panel session on emerging mobile application and risks in the banking and financial services market at the Financial Services - Information Sharing and Analysis Center (FS-ISAC) & BITS Annual Summit 2013. The FS-ISAC & BITS Annual Summit 2013 takes place April 29 - May 1, 2013 in Ponte Vedra Beach, FL, and brings together more than 500 information security professionals in the financial services market, providing an industry forum for collaboration on critical security threats facing the financial services sector."

SAP’s Mobile Banking Innovation Gets Nod for "Outstanding Technology Implementation" at The Asian Banker Technology Implementation Awards 2013
"SAP, the global leader in mobile messaging and mobile commerce services, today announced that together with PT Bank CIMB Niaga Tbk (CIMB Niaga), both companies were recognized with the "Outstanding Technology Implementation Award" at The Asian Banker Technology Implementation Awards 2013. The award recognizes the collaboration between SAP and CIMB Niaga in implementing GoMobile, using innovative mobile banking technology to allow users easy, reliable and convenient access to various bank applications 24/7, through any mobile handset running on any mobile platform, including iOS, Android, BlackBerry, J2ME (old Simbian), SMS, USSD, and WAP. The project involved the development and deploying of a groundbreaking mobile application that meets the increasing demand for mobile banking in Indonesia, without users having to worry about the kind or platform of their mobile devices regardless of the network they are using."