Benefits of bringing mobile banking to the unbanked"There is no doubting the growth in popularity of mobile banking. According to Juniper Research, the market for mobile payments is expected to reach more than $600bn (£393bn) globally this year – double the figure of February 2011. And many development organisations are riding that telecom wave to reach people who don't have access to financial institutions."Over 30 Million Sign Up for Mobile Banking"The number of people using mobile banking services surpassed 30 million last year for the first...
Thursday, 28 February 2013
Tuesday, 26 February 2013
If This Is Mobile Banking"Many banks tend to view Mobile Banking as a truncated version of Internet Banking and most of them offer mobile banking only to their existing Internet Banking users. This approach completely negates the true potential of mobile - after all, if I check my account balance once a week, make one or two fund transfers per month and don't buy more than 10 banking products all my life, I don't need a mobile phone to carry out these infrequent banking activities "here and now". No wonder adoption rates of Mobile Banking are nothing...
Sunday, 24 February 2013
Imaging Brings Coveted Ease of Use to Mobile Banking: Study"A re-evaluation of mobile banking services is going on at many banks, and much of it revolves around the use of imaging to deposit checks, pay bills and make credit card payments. 'Mobile banking is driving a difference in consumer behavior,' says Mary Monahan, executive vice president and research director, mobile, at Javelin Strategy & Research."CUs' Mobile Banking Enters Second Generation: Special Report"Mobile banking is here to stay at credit unions. Today, about one-third of...
Thursday, 21 February 2013
Banks to spend $118B on tech, mobile banking in 2013"Retail banks worldwide will increase their IT spending by 3.4 percent this year — to a total of $118.6 billion. Industry analysts at Ovum predict that spending in Asia will rise 5.1 percent, followed by North America at 3.3 percent, and Europe at 1.8 percent. In a new business trends report, Ovum said that mobile banking would be a 'clear IT investment priority in 2013.' The company suggested that total spending for online channels — including online and mobile browser-based services — will grow...
Wednesday, 20 February 2013
How to Keep Mobile Banking from Becoming a Bust"The establishment of mobile banking gained momentum in 2012 thanks to two major factors: Smartphones have become the norm, and it's easier than ever to develop more powerful and more secure apps. As customers continue embracing banking from their phones and tablets, retail bankers should keep the following points in their mind to truly maximize the benefits of mobile banking."Consumers Expect More From Mobile Banking Apps Than They’re Getting"Mobile banking apps fall short of consumer expectations,...
Tuesday, 19 February 2013
Al Salam Bank Bahrain launches 'Mobile' banking service"Al Salam Bank-Bahrain, one of the leading Islamic banks in the Kingdom of Bahrain, announces the launch of its new mobile banking service "mobile", adding another unique feature to its bouquet of products and services. "Mobile" will enhance your banking experience by providing many convenient features at your fingertips."Mobile banking helps Monitise"TECHNOLOGY firm Monitise said people using its mobile phones to do their banking on the move had helped first-half revenues rise 63 per cent...
Sunday, 17 February 2013
Startup Prepares Alternative to Online, Mobile Banking Passwords"As banks struggle to move past passwords, a Silicon Valley startup is taking a stab at a fingerprint and facial recognition standard backed by some heavy hitters — PayPal and Lenovo among them. Nok Nok Labs, which was created a year ago by the founder of the data security vendor PGP, says it will eventually sell server software that will make the process of verifying the identity of online and mobile bank customers easier and more effective. The company plans to release its developer...
Thursday, 14 February 2013
Four Ways the FTC's New Privacy Rules Affect Mobile Banking Apps"The Federal Trade Commission has been toughening its stance on consumer privacy protection, and this directly affects the mobile applications banks offer their customers. On Saturday the agency issued a report, Mobile Privacy Disclosures: Building Trust Through Transparency, that offers advice on keeping using consumers' data private. It offers recommendations to four sets of stakeholders: operating system providers (like Apple and Google), app providers, advertising networks, and...
Wednesday, 13 February 2013
Mobile banking helps to empower Tanzanian women"The ability to exchange money and make payments with smartphones is placing power in the hands of women. The GSMA mWomen Programme is working in combination with Bankable Frontier Associates (BFA) and Visa Inc. in five different countries in order to help to better use mobile banking to reach women who are underserved and whose needs can be directly met by this technology and its associated products."Aircel, ICICI Bank launch mobile banking service"Aircel and ICICI Bank have jointly launched a mobile...
Tuesday, 12 February 2013
Mobile Banking's Privacy Problem"The FTC issued a report Saturday calling for better privacy protection for mobile device users. Financial data is a primary focus."Will Tablets Be the Key for Corporate Mobile Banking?"In February's Bank Systems & Technology digital issue, we looked at the current state of mobile banking for corporate customers, and examined some of the reasons why it hasn't been as quickly adopted as on the consumer side. We...
Sunday, 10 February 2013
What's Next For Mobile Banking?"Juniper Research estimates that by 2017 more than 1 billion mobile phone users will have used their mobile devices for banking purposes, compared with slightly more than 590 million users this year. As with any positive development, however, there are some potential downsides to this fantastic growth. Will banks be able to profit from the growth of mobile banking, or will it become a commoditized loss leader?"APPLE MOBILE BANKING SYSTEM LETS USERS BORROW MONEY FROM PEOPLE NEARBY"We’ve all had this happen to us at...
Thursday, 7 February 2013
Mobile Banking Trends To Watch Out For In 2013"Mobile banking has evolved tremendously over the past years. As we move into 2013, there are a few key trends that we will see emerge and gain momentum. We believe that voice will be part of all enterprise class mobile applications in the next 3 to 5 years and will do more than just replace typing. Apple’s personal voice assistant Siri is just the beginning, and soon we will see a number of new speech-enabled uses and applications for the banking industry. Voice provides a much deeper interaction mechanism...
Tuesday, 5 February 2013
Mobile banking market in China growing rapidly, report finds"There are 150 million Chinese using mobile banking services, transacting more than US$550 billion a year through their mobile devices, according to a Celent report published yesterday. China thus accounts for 40% of mobile banking users worldwide. By 2014, the Mobile Banking Trends in China report estimates the number of users to reach nearly 500 million and transaction volume to exceed US$1.8 trillion."Mobile banking sees a surge of new entrants"During the quarter ending September 2012,...
Sunday, 3 February 2013
Mobile Banking And Payment Startup mFoundry Sold To FIS For $120M On $165M Valuation"Some consolidation in the world of mobile payments and mobile banking: mFoundry is getting acquired by FIS for $120 million. FIS — a banking and payment provider that works with some 14,000 banks worldwide — already had a 22% stake in the company; today’s deal will see it paying for the remaining 78% in cash, for a total valuation of $162-$165 million. mFoundry provides mobile banking and mobile payment solutions to some 850 banks and retailers, including Bank...
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