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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