"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 devices to keep tabs on their money and conduct increasingly complex financial transactions—simply because they can."
Diebold Aims to Merge Mobile Banking and ATMs
"As mobile banking and payments take off, self-service manufacturers will be increasingly challenged to weave mobility into their ATM and kiosk technology. Diebold (DBD) this week debuted a cloud service that aims to pre-stage and complete ATM transactions without cards. The new tech allows users to scan a Quick Response (QR) code on the ATM and enter an authentication code to initiate withdrawals and deposits. The smartphone is used as an authentication device, which Diebold says reduces security risk related to lost cards, stolen cards and skimming."
Breaking the Glass Ceiling of Mobile Banking Adoption
"Credit unions of every shape, size and type recognize the benefits that mobile banking offers – a lower cost to serve, increased member satisfaction, retention and a higher return on investment. But for many, breaking through the mobile banking adoption glass ceiling has been challenging. The mobile banking glass ceiling lies just beyond the threshold of early adopters, designated as the first 20% of a financial institution’s online banking user base. Many credit unions are on a mobile banking adoption path that attracts the early adopters within a year of offering the service, but the trajectory then stagnates to include just a small additional percentage of adopters over the next two years."
Mobile banking: 9 ways you must protect your account
"If you are among the millions of consumers who have embraced mobile banking, you could be putting your financial life at risk. Many consumers make careless errors with their phones that open the door to having con artists steal from their bank accounts, says Adam Levin, co-founder of Credit.com and IdentityTheft911."
Meriwest Adds Bill Pay to Mobile Offerings
"Meriwest Credit Union announced it has turned on bill pay inside its mobile banking app and, said community relations manager Greg Meyer, adoption has been brisk. Meriwest has promoted the new bill pay feature in an email blast to members. The technology was provided to Meriwest by Access Softek, said Meyer. That company claims some 175 mobile banking customers. Apps for iPhone and Android were released earlier by Meriwest. Meyer indicated that although mobile remote deposit capture is not presently featured, it will be made available to members imminently."
Mobile Banking
"Mukherjee was pacing furiously at the lounge of our building when I arrived after a long day. He generally waited for me there when he wanted to ask me something. He was an impatient man and I knew from experience that I did not have a choice. I will have to answer his questions before I was allowed to proceed to the elevator. Reluctantly, I asked him the reason for his anger. Mukherjee: I had to transfer money to my daughter studying in Delhi for her college fees. It was urgent. I went to the bank so that I could take out cash from my account and deposit it in her account."
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