Bank of America Taking Mobile Banking By Storm"Bank of America has slowly and steadily become a major force to be reckoned with in mobile banking. More customers, the financial titan said Thursday, now choose Bank of America to bank on-the-go more than any other bank. Over 10 million Bank of America customers are now using mobile banking, representing growth of nearly 3 million active users over the last 12 months."Wells Fargo Launches Simplified Person-to-Person Money Transfer Service Nationwide"Wells Fargo & Company WFC +0.16% today announced...
Thursday, 31 May 2012
Wednesday, 30 May 2012
Where Does the Future of Mobile Banking Lie?"Karl Rieder, Director of Research & Development at The GFT Group, is chairing the Marketforce and the IEA Annual Future of Mobile Banking Conference 2012, on Tuesday 29th May in London. 'This is an extremely interesting time to be in mobile banking,' Karl Rieder comments, 'While mobile technologies have significantly changed our lives and businesses, mobile banking has yet to take a real foothold as compared to other industries, but we are at a tipping point, and some big things are right around...
Tuesday, 29 May 2012
80% of mobile banking apps may have security flaws"Neal O’Farrell, executive director of the nonprofit Identity Theft Council, spoke about the seriousness of mobile security as part of San Francisco Small Business Week, Cult Of Mac reported. 'There were more data breaches than U.S. residents last year and more cases of identity theft than just about all other crimes combined,'"Action Line: Mobile banking scam a growing concern"The FBI warned on Jan. 11 that 'crafty criminals are aiming to steal one of the most valuable pieces of your personal...
Monday, 28 May 2012
Who Will Win the Battle for the Mobile War"Over the next five years paying with your phone will become as commonplace as paying with cash, which is why every man, his bank and his phone company are in the battle to win the mobile wallet space. So who's going to win?"Ally Mobile Banking"Ally Mobile Banking has arrived for iPhone® and Android™ users! Now you can check your balance, view recent transactions, transfer money between your Ally Bank accounts and find ATMs and cash-back locations near you."iPad and Kindle Fire: Banking on Tablets"A young,...
Thursday, 24 May 2012
3 Keys to Mobile Security"Mobile banking is being adopted by consumers at an increasing rate, but it's just one piece of the overall mobile financial services puzzle. As the mobility trend grows, banking institutions are still figuring out how far ahead they should look, and what strategies make the most sense. But Paul Smocer, president of BITS, the technology policy division of the Financial Services Roundtable, says most institutions are doing much more than some observers give them credit for doing. Banking/security leaders are very concerned...
Tuesday, 22 May 2012
Mobile payment on the way, but who’s driving the bus?"The Canadian Bankers Association announced on Monday what amounts to the next step in the evolution of how Canadians buy stuff. Sometime soon — details are not provided — we will be able to buy stuff in stores with a mobile phone thanks to a new set of common guidelines over how electronic information is exchanged agreed to by the country’s big banks and credit unions. It is hoped that the guidelines will pave the way for a transformation in the way Canadians interact with retailers, an acknowledgement...
Sunday, 20 May 2012
Forrester: How do the top U.S. banks rank in their mobile services?"Mobile is the new black: In 2011, the number of smartphone subscriptions in the U.S. grew by about 50 percent. Today, U.S. smartphone penetration is approximately 40 percent. This technological sea change is having an impact on the banking industry: In the past five years, U.S. mobile banking adoption has more than quadrupled, hitting 17 percent by the end of 2011. This represents a compound annual growth rate (CAGR) of more than 33 percent."Finovate Spring 2012: Digital Financial...
Thursday, 17 May 2012
Post PC Era: Mobile Banking and Payments in Emerging Markets"Mobile phones offer numerous benefits in emerging markets; they ensure the safety and security of money, make payments more convenient and promote M-Commerce opportunities for local entrepreneurs. They also present opportunities for western companies looking to move into these markets, as well as learning’s for those who want to implement similar mobile finance models in developed markets."MOBILE BANKING INCREASING IN EMERGING MARKETS"On Device Research, which use the mobile Internet...
Wednesday, 16 May 2012
Mobile Banking: Mitigating Consumer Risks"Which security concerns should institutions be bracing for, as more consumers adopt mobile banking? BITS offers a collection of recommendations from some of the industry's top institutions. Most banks and credit unions know they can't shy away from mobile. But that doesn't mean they don't still have serious concerns about security risks. Paul Smocer, president of BITS, the technology policy division of the Financial Services Roundtable, says banking/security leaders increasingly just want to wrap their...
Tuesday, 15 May 2012
Mobile money transfers reach 16 percent of sub-Saharan African population"Money transfer via mobile phones has expanded to 16 percent of the total population in sub-Saharan Africa, according to a new World Bank study that provides a global picture for how people save, borrow, make payments and manage risk. The Global Financial Inclusion Database, or Global Findex, has found only 3 percent of the population in the rest of the world take advantage of money transfers through mobile phones."A bank that can go anywhere, anytime, and fits in the pocket"This...
Sunday, 13 May 2012
Biggest trends in mobile banking"Clickatell CEO, Pieter Streicher predicts that mobile check capture, person-to-person payments and customized apps will be the biggest trends in mobile banking this year. Streicher told MyBroadband BusinessTech that 90% of the banks they deal with have, or will have, a mobile strategy by the end of 2012. This is driven by the need to serve their customers in a more cost-effective manner and the need to offer more...
Friday, 11 May 2012
Great Western Bank Mobile"Put your money where your mobile is! Great Western Bank’s FREE* mobile banking app** lets you bank on the go when it’s convenient for you. To begin using this app, you will need to enroll in Mobile Banking by creating a new account on the app. You cannot log into Mobile Banking with your Online Banking credentials. You will need to create an account to use Mobile Banking."Report: Banks Should Do More To Optimize Websites for Tablets as Adoption Skyrockets"Tablet adoption is set to grow 40% by 2016 and tablet users conducting...
Thursday, 10 May 2012
MTN Says Subscribers Advanced 3.7% to 170.6 Million in March"Africa’s largest mobile-phone company, said subscriptions rose 3.7 percent in the first quarter as users were attracted to its data packages and mobile banking facilities. MTN had 170.6 million subscribers at the end of March, compared with 164.5 million at the end of December, the Johannesburg-based company said today. In Nigeria, the company’s biggest market, it added 1.26 million new customers while South Africa contributed 3.2 percent more users, MTN said."RHB Now Mobile Banking app...
Wednesday, 9 May 2012
Taking a mobile and a wallet to the shops?"Making payments on the move and at the touch of a button isn't the future of banking; it's already here. Mobile phone providers have been quick to focus on finding new ways for customers to access financial services and products from their phones. The Barclays PingIt app is now open to all UK bank and building society accounts, for example, and the Orange Quick Tap app will be available on new Android handsets in the coming weeks, but it is O2 taking all the headlines with the launch of its all-encompassing...
Tuesday, 8 May 2012
6 Top Mobile Banking Risks"Banks and credit unions that don't take steps now to anticipate mobile banking and payment risks will suffer consequences in the long run, according to new research from BITS, the technology policy division of the Financial Services Roundtable. 'Clearly, they need to be doing a good risk assessment,' says Paul Smocer, BITS' president. 'Banks need to understand where there might be different and unique threats.'"Mobile Bankers Love Convenience, But Security Concerns Remain"Slow speed and lack of confidence are among the...
Sunday, 6 May 2012
Citi exec: Intersection of mobile and engagement happens on tablets"A Citi executive at Mobile Commerce Daily’s Mcommerce Summit: State of Mobile Commerce 2012 conference yesterday said that tablets are driving a much deeper level of engagement with customers than smartphones. During the “Citi: Beyond Mobile Banking: The New Role of Tablets” session, the executive said tablet users have longer session lengths than smartphone users. The exec also reported that Citi has seen thousands of customers sign up for online banking for the first time via...
Thursday, 3 May 2012
Sybase 365 and Dutch Bangla-Bank recognised for “Best Mobile Banking Initiative” at Asian Banker Technology Awards"Sybase 365, a subsidiary of Sybase, Inc., an SAP company and the global leader in mobile messaging and mobile commerce services, today announced that together with the Dutch-Bangla Bank Limited (DBBL), both companies were presented the “Best Mobile Banking Initiative Award” at The Asian Banker Technology Implementation Awards 2012."KeyBank Launches New Mobile Banking Solution with mFoundry"mFoundry, North America's largest mobile banking...
Wednesday, 2 May 2012
Banking app 'unlike others'"TSB Bank customers now have access to a groundbreaking mobile banking application that will change the way some customers handle their finances. For the past 12 months, TSB's technology services department has been researching and developing a banking app unlike any other, TSB's technology services manager Marie Collins said."O2 launches revolutionary mobile banking service"Consumers will be soon able to transfer money to their bank account with just a text message. Mobile network O2 has launched a smartphone app which...
Tuesday, 1 May 2012
Mobile banking trends in 2012"A recent study by Ericsson revealed 10 hot consumer trends for 2012. Although these are mainly general mobile trends, all of them do have a clear imprint in the financial services industry. In this post I sum up the Ericsson study and enhance their general trends with my interpretation for the financial services industry."Anomaly detection solution for mobile banking"Guardian Analytics announced FraudMAP Mobile, the company's latest fraud prevention innovation, purpose-built to identify suspicious mobile banking activity....
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