Mobile Banking Updates - Dec 30

Mobile Banking Forecast: Smartphone and Tablet Use in the United States"A new report from Aite Group provides financial services executives with guidance on the most important mobile banking features for investment. Based on a Q2 2012 Aite Group survey of 1,115 U.S. consumers, the report forecasts consumer mobile device use for a variety of financial transactions and activities."First Niagara Bank Launches Mobile Banking Apps"First Niagara Bank has released the first version of its native mobile-banking applications. Now available for download...

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Mobile Banking Updates - Dec 27

Why Internet and Mobile Banking Can Be Out of Sync"In the continuing discussion around mobile banking as a standalone channel, a new dimension has emerged: the platform’s parity with Internet banking. Mobile banking apps, especially native apps, are evolving at a rate higher than Internet banking. Not surprisingly, cool, new technologies are geared more towards a mobile platform. The creativity in this particular space is, in part, due to the overwhelming demand for the service. Consumers' use of mobile banking rose dramatically in 2011, jumping...

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Mobile Banking Updates - Dec 20

Integrating Mobile and Branch Banking Will Increase Customer Loyalty"Mobile banking has finally come into its own. Almost one-third of the 5,200 consumers that Bain and Company surveyed recently used their smartphones or tablets for some type of banking interaction during the three months prior to the survey, up sharply from one-fifth of respondents in 2011. Our survey finds that mobile banking is more likely to increase a customer's likelihood to recommend his or her bank to other people than any other channel interaction."CIA's venture arm backs...

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Mobile Banking Updates - Dec 19

Bank of America's Plan to Drive Mobile Banking Beyond 12 Million Users"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....

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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...

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Mobile Banking Security - Dec 17

Android banking Trojans were in Google Play store"Mobile banking Trojans for Android devices, disguised as real banking apps, have made their way into the official Google Play store, where at least one was up until earlier this week. Once a user downloads and launches one of the malicious apps, which are all variants of the CitMo Trojan, the app prompts users to enter their phone numbers. Then users are asked to enter a 5-digit code they receive via text message."Crime hits mobile banking"ARIOUS estimates have placed the number of economically...

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Mobile Banking Updates - Dec 16

Mobile Banking Soars; Usage in U.S. Increases 50 Percent Since 2011"Mobile banking has taken hold around the globe, presenting significant opportunities for banks to drive out costs and deepen customer relationships; this according to Bain & Company’s annual “Customer Loyalty in Retail Banking Report (2012 global edition),” released today by the global business consulting firm. The report finds that Asia has the highest mobile banking penetration—47 percent of survey respondents in South Korea said they had mobile interactions in the previous...

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International Mobile Banking Updates - Dec 13

Bank of Ireland upgrades mobile banking app"Bank of Ireland is upgrading its mobile banking service with a facility enabling users to transfer funds to other customers of the bank, using only their mobile phone numbers. The new Pay to Mobile service is due to launch to its customers early in the New Year, but customers are being asked to register in advance."How often do expats in Pakistan use their mobile or smartphone for mobile banking?"We recently undertook an online poll amongst expats around the world to see how often they use their mobile...

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Mobile Banking Security - Dec 12

Major £30m cyberheist pulled off using MOBILE malware"Cybercrooks swiped £30 million (€36m) from the banks accounts of 30,000 customers in Italy, Germany, Spain and Holland over the summer using an elaborate mobile banking fraud scam. The malware-based attack targeted both corporate and private banking users, performing automatic transfers that varied from €500€ to €250,000 to intermediary accounts controlled by members of the gang. The fraud used malware based on the infamous ZeuS cybercrime toolkit to target the PCs and mobile phones of banking...

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Mobile Banking Updates - Dec 11

Farmers and Merchants CIO Shares Mobile Banking Strategy"After some fits and starts, Farmers & Merchants Bank (FMBL) is now plowing into mobility and imaging via the deployment of a series of mobile services and an upgrade to its ATMs. The Long Beach, Calif.-based institution was slow out of the gate; many banks have been offering mobile banking for some time. But it's making up for lost time. Basic mobile services such as transfers are on the menu, as well as new payments and tablet applications."Mobility Matters: The Dark Side of Mobile Banking"Time...

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Mobile Banking Updates - Dec 9

Mobile Banking's Legal Dark Side"Heard of Maxim Inc.? If you're a bank interested in developing mobile payments innovation, you should have, because the company claims it invented key technology that entitles it to a piece of the mobile payments pie."Citizens Bank Mobile Banking Apps For iPhone®, Android™ Receive #1 Ranking For Customer Satisfaction"Citizens Bank’s Mobile Banking apps for iPhone and Android have been named the “best integrated apps” in the industry by Javelin Strategy & Research following its review of customer ratings in the...

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Mobile Banking Updates - Dec 6

Mobile Banking Adoption Grows"Chase, Bank of America, and USAA are the top mobile banking providers equipped to deal with rising expectations from consumers, according to a new report from Javelin Strategy and Research. Javelin Strategy & Research’s latest report evaluates the 25 leading U.S. retail financial institutions (FIs) mobile banking offerings by comparing features, mobile access, app, Web and text banking, and mobile alerts."LevelUp to Provide Mobile Payments at Louisville's KFC Yum! Center"The KFC Yum! Center is the first sports...

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International Mobile Banking Updates - Dec 4

Indian banks flip the switch on unified mobile banking platform"India's push to provide access to financial services through mobile means took another step forward when Shri P. Chidambaram, India's Finance Minister, recently announced the launch of a National Unified USSD Platform by India's National Payment Corporation. The NUUP allows the millions of Indians who lack access to physical banking locations use a single SMS texting number to access services across all banks, regardless of wireless service provider, mobile handset maker or region."Safaricom...

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Mobile Banking Updates - Dec 2

Banks Cling to iPhone as Consumers Take to Android"Steve Jobs would be pleased. The thing that strikes you most when looking at Javelin's latest research on mobile banking and talking to its author, Mary Monahan, is the devotion banks still have to Apple's iPhone, even as Android devices lead in consumer market share, as they did last year. According to Javelin Strategy & Research's latest consumer survey (the group polled 3,000 consumers this quarter), Google's Android smartphones and tablets now claim 48% of the U.S mobile market, up from...

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Mobile Banking Updates - Nov 29

Giving Community Bank Customers What They Deserve"What do community bank customers want? It’s simple. In addition to the close, personal connection that’s so uniquely characteristic of community banks, they want the same thing consumers who bank at large, national financial institutions want – the next big thing. Whether it’s online banking, mobile banking or emerging digital payments, consumers expect their bank to offer the latest and greatest capability. The good news for community banks is that they can now deliver those solutions. The outdated...

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International Mobile Banking Updates - Nov 27

Consumers in developed economies are behind in mobile banking adoption."Developed, Western markets are playing catchup with the rest of the world when it comes to adoption of mobile banking, with countries such as Germany and Italy recording rates well below the global average. Mobile banking brings advantages in terms of engagement and service differentiation, and banks in these countries are missing out on this opportunity."Airtel expands Mobile Banking to capture 50% of customers"Airtel Ghana says it is further expanding its Mobile Money platform,...

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Mobile Banking Updates - Nov 26

2012 Mobile Banking Market Assessment"In new research, 2012 Mobile Banking Market Assessment, Mercator Advisory Group explores how retail financial institutions can increase interaction with customers and members to include 24x7, anytime anywhere service, and also expand their reach beyond simple demand deposit account transactions."IALING FOR DOLLARS: Mobile banking becomes the norm"As consumers demand more convenient access to financial accounts on the go, banks have adjusted by offering mobile banking and even creating apps for ease of use on...

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International Mobile Banking Updates - Nov 22

Rwanda: Mobile Banking Changes the Way We Do Business"It was just a matter of seconds before Giovanni Higiro finished paying his fares to a motorcyclist, without touching his wallet. As if they were exchanging numbers, Higiro was able to pay Claude Habineza by transferring money from his mobile phone Mobile Money account to the motorcyclist's electronic wallet. Like Higiro, many people are now enjoying the new mobile banking products that now allow one to pay their bills and buy goods using their mobile phones. One can make payments of as little...

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Mobile Banking Security - Nov 20

Smart Phone Malware Risk Rises"Mobile malware is exploding at a time when financial institutions are increasing their mobile banking offerings and consumers are making broader use of smart phones and tablets. A recent study from software and security firm Trend Micro finds that mobile malware attacks hit record numbers in the third quarter, with Android devices as the primary targets."The Dangers of Mobile Banking"Advertising for mobile banking has become as popular as traditional banking commercials. Customers like local makeup artist Alisha Cooper...

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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...

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Mobile Banking Updates - Nov 15

Keynote Mobile Banking Scorecard Reveals Top Retail Banks Fast Adopting Mobile Strategies"Keynote® Systems (NAS: KEYN), the global leader in mobile and web cloud testing and monitoring, today announced the results of the Fall 2012 edition of the Keynote Mobile Banking Scorecard, first launched in 2011 and the standard in benchmarking consumer mobile banking offerings. Chase Bank achieved its second consecutive win for Overall Score, while second place went to Wells Fargo and third place to Bank of America. Leaders for individual modes include...

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Mobile Banking Security - Nov 14

Tackling the Top Mobile Risks"The two greatest threats facing mobile banking today come from the risky behavior of mobile users, and their download of third-party applications. And while banks and credit unions have little control over users and third-party apps, mobile expert Tom Wills says institutions can take steps to mitigate their risks. Among his top recommendations: mobile transaction limits, enhanced authentication, device fingerprinting and fraud analytics."New Blackhole Targets Mobile Banking Services"According to a report published...

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International Mobile Banking Updates - Nov 13

Mobile banking expands to include microfinance"Mobile banking in the Philippines is expanding into microfinance to serve the lower-income market outside of the country’s major urban centers. Tricia Dizon, head of financial services at Smart Communications, said in a statement the telecommunications giant was helping launch mBank Philippines."Mobilink to launch mobile financial services"Mobilink is all set to enter the mobile banking segment as Waseela Bank – sister concern of Pakistan’s largest cellular operator – has obtained central bank’s approval...

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Mobile Banking Updates - Nov 11

80 Percent of Consumers Say Mobile Banking is Important"Verve Mobile, a leading U.S. mobile advertising company specializing in location-powered solutions, announced today the results of a study conducted across 3,500 mobile publishers that use the Verve advertising platform. The study reinforces that consumers are not only comfortable and willing to use their mobile devices for banking activities; but that they expect more, easy-to-use mobile options from their financial institutions."Mobility Matters: Tracking the Mobile Banking Revolution in...

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Mobile Banking Security - Nov 8

M-Banking Security Insightfully Reviewed in New Goode Intelligence Report Now Available at MarketPublishers.com"The mobile banking channel has the potential to be more secure than traditional online banking. With the rapid adoption of smartphone devices and tablet PCs, nearly all types of organizations are currently busy with producing their own apps for customers to download, with banks being no exception. They also continue to launch applications for customers to freely conduct the same scope of transactions they would have previously performed...

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Mobile Banking Updates - Nov 7

80 Percent Of Consumers Say Mobile Banking Is Important"Verve Mobile, a leading U.S. mobile advertising company specializing in location-powered solutions, announced today the results of a study conducted across 3,500 mobile publishers that use the Verve advertising platform. The study reinforces that consumers are not only comfortable and willing to use their mobile devices for banking activities; but that they expect more, easy-to-use mobile options from their financial institutions."81% of largest financial institutions provide mobile banking...

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International Mobile Banking Updates - Nov 6

International Business Machines Corp. : Leading Pakistan Mobile Banking Provider Uses IBM Cloud to Expand Delivery of Secure Financial Services on Mobile Phones"IBM (NYSE: IBM) today announced that Monet, one of Pakistan's leading mobile-commerce providers, has selected a customized IBM cloud-based solution that will enable the company to enhance service efficiency and expand its presence across the country. Launched in 2012, Monet provides banks, mobile network operators and branchless banking agents in Pakistan with a technology platform that...

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Mobile Banking Updates - Nov 4

Image Processing Tech Limitations Could Stymie New Mobile Banking Apps"Financial institutions have been experimenting for a few years with new and creative ways of taking advantage of smartphone cameras to provide mobile banking services. They started with mobile check deposit and have moved on to mobile capture of mortgage documents and drivers’ licenses."Banks and telcos must partner for the long haul"Partnerships between financial institutions and other firms such as telcos offer a chance to bring new services such as mobile banking and payments...

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