Ethiopia to Introduce Mobile Banking"Ethiopia is one of the few remaining African countries to introduce mobile banking. With the booming economy and a population of 80 million this country could be the next gold mine for mobile banking companies. Mobile banking has proved to be a lucrative venture in the developing world, where large parts of the population belong to the so-called "unbanked." In Africa, only Ethiopia and Zimbabwe do not provide mobile money services. That will change soon for Ethiopia."Why you can bank on mobile banking"Several...
Wednesday, 31 October 2012
Tuesday, 30 October 2012
Young adults drive popularity up"The popularity of mobile banking has increased significantly since 2010, the American Bankers Association (ABA) said in a recent report. According to a recent survey from the ABA – conducted by Ipsos Public Affairs in early August – mobile banking is now the preferred banking method of six percent of banking customers, which represents a 100 percent increase from 2010. In the age group of 18-34 year-olds, 15 percent of banking customers preferred mobile banking."Legally blind"Most major banks have treated mobile...
Monday, 29 October 2012
Protecting Yourself from Mobile Banking Attacks"It’s true – mobile banking is an easy and efficient way to view your account balances, review individual transactions, and send or receive payments while you’re on the go. But its convenience isn’t just attracting smartphone users worldwide – it’s also attracting cybercriminals, and it’s easy to see why. According to a recent report by the Federal Reserve, 42 percent of mobile banking users have transferred money between accounts; meanwhile, 21 percent of mobile payment users have transferred money...
Sunday, 28 October 2012
As Windows 8 Launches, Banks Ready Mobile Banking Apps"Financial institutions are readying apps for Microsoft's new, radically different Windows 8 operating system for desktop, laptop and tablet devices, which officially launches today. Bank of America, the second-largest U.S. bank by assets, is one. 'We're developing an app for Windows 8 that will provide another convenient way for our customers to interact with Bank of America,' said a BofA spokesperson...
Thursday, 25 October 2012
Consumers Readily Adopt New Mobile Banking Tools"As smartphone and tablet penetration continues to rise, so too does the use of mobile banking, bill paying, money transfer, remote check deposit and other personal money-management services, according to a new eMarketer report, “Bigger Money on the Small(er) Screen: How Smartphones and Tablets Change the Way Consumers Manage Their Finances.” On-the-go consumers are turning more frequently to their...
Tuesday, 23 October 2012
Aussies way ahead in mobile banking"Latest research from Google shows Australians are 65 per cent more likely than the British to do banking via their smartphone and 14 per cent more likely than Americans. St George Bank has more than 390,000 mobile banking customers and growing fast, especially in the demographic of those aged up to 35, who make up 75 per cent of the users.St George Banking Group's head of eChannels, Travis Tyler, says the explosion of consumers who have turned to phone apps to do their banking is continuing to skyrocket."Namibia:...
Sunday, 21 October 2012
ABA Survey: Popularity of Mobile Banking Jumps"A new survey by the American Bankers Association shows a sharp increase in the popularity of mobile banking, driven mainly by customers in the 18 to 34-year-old age group. The survey of 1,000 U.S. adults, conducted August 2-6, 2012 by Ipsos Public Affairs, an independent market research firm, revealed that while the Internet remains the most popular banking method, mobile banking is now preferred by six percent of customers, a 100 percent increase from 2010, and by 15 percent of 18-34 year olds, also...
Thursday, 18 October 2012
Blackhawk Network To Offer Gift Cards Through mFoundry’s New Mobile Banking Platform"Banks and credit unions now have an opportunity to generate a new source of top-line revenue by offering gift cards to their mobile banking customers through a relationship announced today between Blackhawk Network and mFoundry. Blackhawk Network, a leading provider of prepaid and financial payments products for consumers and businesses, has contracted with mFoundry, enabling Blackhawk to offer digital and physical gift cards from hundreds of brand name merchants...
Wednesday, 17 October 2012
Is Mobile Banking Safe?"It goes without saying that whenever you need to make important banking decisions, you should do so in a deliberate and informed manner, gathering financial information and documents and then analysing them in detail. Unfortunately, not everyone has the liberty of making every decision in this way though, and there are times when taking banking decisions on the move may seem necessary. Whether or not this is wise really depends on the financial decision that is being made - and how well informed you are leading up to the...
Tuesday, 16 October 2012
Dallas Fed economist sees mobile banking as the way to reach the world’s unbanked "The fast growth of mobile technology means cell phones maybe the way to reach the unbanked in many parts of the world. That’s the premise of Janet Koech, an assistant economist at the Federal Reserve Bank of Dallas. 'In developing countries with a high mobile-phone penetration rate but a lack of robust financial services, the need for efficient payment methods has contributed to M-banking’s appeal,' Koech wrote in today’s issue of the Dallas Fed’s Economic...
Sunday, 14 October 2012
mFoundry Launches New Mobile Banking Platform"Mobile banking and payments provider mFoundry announced the release of a new mobile banking platform it says will offer banks new ways to capitalize on the continued growth of mobile banking services. mFoundry’s Fin.X product enables financial institutions financial institutions to deliver mobile banking services through an "advanced extensible architecture," said the company. mFoundry also announced a service provider network for Fin.X of 30 companies, including FIS, Diebold, Dwolla, Blackhawk Network...
Thursday, 11 October 2012
Mobile Banking: what’s the potential of mobile for banks? (part1)"There is no doubt that the channel of the future, for banking, is the mobile phone. Already an integral part of everyday life for everything from internet access to accessing social networks and sharing holiday photos, the ‘phone’ function is increasingly seen as a peripheral purpose, rather than the device’s raison d’être. According to Cisco, global mobile data use grew 2.3-fold in 2011, more than doubling for the fourth year in a row. This year’s estimate is that global mobile...
Wednesday, 10 October 2012
Mobile Banking: Emerging Threats"Some of the biggest threats to mobile banking and payments are the ones over which institutions have no direct control. How can they mitigate these risks? Mobile banking expert Tom Wills offers advice. Telecommunications infrastructure. Third-party applications. User behavior. All are among top security challenges for global banking institutions as they expand their mobile banking and payments initiatives. And most challenging of all: These threats fall outside the institutions' direct control. So, how can banks...
Tuesday, 9 October 2012
Transactional Banking and Mobile Payments in China: An Emerging Opportunity"When Chinese shoppers flocked to Apple stores for the new iPhone launch earlier this year, news reports highlighted the reaction as another sign of the dynamic and rapidly evolving mobile market in China. Indeed, analysts said, China is now not only largest overall mobile phone market in the world, with more than 900 million subscribers -- it also is the largest smart-phone market in the world, moving past the U.S. Apple itself noted that iPhone sales in Greater China were...
Sunday, 7 October 2012
For Credit Unions, Mobile Deposits Are a Lifeline — But Are They a Fee Generator?"Mobile remote deposit capture (RDC), or the use of the camera on a mobile device to create an image of a check for deposit, is expanding across financial services. While larger banks offered the service initially, credit unions and community banks are also quickly adopting mobile RDC, a move that can boost overall use of electronic channels. While almost all financial institutions want to boost mobile and web banking, it's vital for smaller institutions to do so to...
Thursday, 4 October 2012
Communication Federal Credit Union Selects Tyfone to Power Next Generation Mobile Services"Communication Federal Credit Union (CFCU), serving more than 50,000 members across Oklahoma and Kansas, will provide its members a comprehensive suite of mobile financial services powered by Tyfone’s next generation mobile banking solution. 'As reliance on PCs continues to diminish, CFCU sees tremendous value in being able to provide 100% of our member base the ability to conduct their banking via mobile without requiring them to have a computer or online...
Wednesday, 3 October 2012
Mobile banking trends and hidden risks"While mobile banking apps are growing quickly in popularity, 68 percent of smartphone owners who have not yet adopted these apps are holding back due to security fears, while only 12 percent believe that the effort of downloading and installing such apps doesn’t justify the convenience, according to Metaforic."Bank of America Execs Assert Mobile Banking and Security Are Top Priorities"'Mobile is in our DNA,' explains David Godsman, an online and mobile solutions executive at Bank of America. 'It's how we operate...
Tuesday, 2 October 2012
MOBILE BANKING (First of two parts)"THE popularity of cell phones in the Philippines is undeniable and palpable. Ask any person on the street if he has a cell phone, and 7 out of 10 would probably say yes. Sadly, while access to mobile phone services has rocketed in recent years, access to financial services remains a major barrier to economic growth. If only banks here were as easily accessible as cell phones, particularly in the rural areas!"Anytime-anywhere banking, courtesy RBI"Customers can now pay for their taxi rides, pizzas, kirana store...
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