Consumers More Willing to Pay for Mobile Banking: Study"Over the past year, consumers have become more willing to pay for mobile banking services, according to a new report by ath Power Consulting. 'Mobile is a unique channel in so many different ways,' says Michael McEvoy, managing director of the consultancy and author of the report. 'There's an opportunity to charge.'"Wells Fargo Makes Text Receipts Available at ATMs"Wells Fargo & Company (NYSE: WFC) announced today that in addition to its popular email or e-receipt option, it is introducing...
Sunday, 30 June 2013
Friday, 28 June 2013
Bank of Botetourt Selects Fiserv for Account Processing, Citing Enhanced Integration and Expanded Product Offerings"Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Bank of Botetourt has chosen the Precision® bank account processing platform, along with a host of customer-facing solutions, including online banking, bill pay, mobile banking, social payments and remote deposit capture. Headquartered in Buchanan, Va., the $320-million bank expects to increase efficiencies through...
Thursday, 27 June 2013
Is Mobile Banking Safe?"Arxan CEO Mike Dager on the emerging threat to mobile devices and banking apps."The Rise of Mobile Technology in Higher Ed"Between the ever-expanding popularity of tablets and the continued rise of smartphone ownership, all evidence points to an unabated focus on the adoption of new mobile devices and innovative technologies. According to a study by the Online Publishers Association, smartphone owners have increased by 44...
Wednesday, 26 June 2013
App of the day: Barclays Mobile Banking review (Android)"It makes the world go round but you can't buy love with it. It walks, it talks, it's the root of all evil, but all we want is dirty cash. The country has none, but fortunately banks do, and some of that filthy lucre goes into app development. Mother always said that if you look after the pennies, the pounds would look after themselves, and this app might just make that easier. Today, we're looking at Barclays Mobile Banking."Banks Turn to Fees to Make Mobile Pay"At the recent Mobile Banking...
Tuesday, 25 June 2013
Ethiopia: Mobile Banking Game-Changer in Ethiopia"New regulations will bring m-banking to Ethiopian consumers, but limits on the companies involved and how transactions must be managed could slow growth. On 1 January 2013, the National Bank of Ethiopia (NBE) issued a long-awaited directive that allows transaction-based mobile banking. This is a report by theafricareport.com. Four major players Commercial Bank of Ethiopia, M-BIRR, BelCash and Zemen Bank's z-Birr are expected to begin operations later this year, making Ethiopia one of those African...
Monday, 24 June 2013
Be safe with mobile banking"Gone are the days when you wait for the bank to mail a bank statement and you balance your account before you spend any more money. Many of us now rely on online banking on our computer, smart phone or tablet. We check our accounts often and rely on this to make financial decisions."Biometric Authentication Provides Better Mobile Device Security, Heavy Reading Finds"Biometrics Offer Promise for More Secure Smartphones examines the market for biometric authentication on smartphones, analyzing the most lucrative verticals...
Sunday, 23 June 2013
Mobile banking trends continue to expand "When was the last time you went to the bank? We took the question to Nicollet Mall.'6 months ago, maybe?' was the first response we got. 'Does an ATM count? I would say I went a couple of months ago with my kids, to cash their piggy banks,' was the second answer we got."Must-Have Mobile Banking Services In 2013"As much of the country has become mobile-reliant, it makes sense to check out the available mobile apps and features in regard to your banking needs. Mobile apps can be useful in many ways,...
Thursday, 20 June 2013
Using Mobile Banking to Expand Financial Access"According to the FDIC’s “2011 Survey of Unbanked and Underbanked Consumers,” approximately 17 million adults in the United States, or 8.2 percent of the population, do not have a checking or savings account—a group known as the “unbanked.” Another one in five households in the United States are “underbanked,” meaning they do have some sort of bank account but still use alternative, nonbank financial-services providers such as check cashers and pawn shops."Credit union fills branches with 'technology...
Wednesday, 19 June 2013
Net banking: How it helps you save time and money"Did you know that approaching a bank branch to get a duplicate account statement can cost you around Rs 100, while the same could be had at half the price through online banking? Similarly, a stop payment request that costs upwards of Rs 50 through traditional banking channels is a free service for those who opt for net banking."Customers take leap into mobile banking"The number of bank customers who use mobile phones and iPads is growing at breakneck pace, with billions of dollars of transactions...
Tuesday, 18 June 2013
POLICE: Louisville man steals thousands via mobile banking"A Louisville man has been arrested after police say he used mobile banking to steal thousands of dollars from multiple Kroger stores. Police say 34-year-old Boma Robert Spero-Jack went into several different Kroger stores and purchased at least 32 Western Union money orders. Each money order was issued for an amount between $195 and $500, according to an arrest report."Mobile Banking On Unsecure Wireless Networks Is Risky Business"Mobile banking is exploding. According to a new study from...
Sunday, 16 June 2013
What Tops Consumers' Mobile Banking Wish List?"As plastic and digital transactions boom, the use of paper checks is in decline. Although checks still represent about 20 percent of all non-cash payments, the Federal Reserve processes less than a third of the checks it did 20 years ago. With fewer checks in circulation, you may be surprised to learn that the most desired improvement to mobile banking is … the ability to deposit checks."Big data to drive banks' mobile wallet strategies - Finextra research"Research from Finextra finds that banks around...
Thursday, 13 June 2013
Wolberg-Stok at Citi Aims for a Single, Globetrotting Mobile App"Andres Wolberg-Stok was promoted about a year ago to global mobile and tablet banking director at Citigroup. 'It's a bigger field in which to inflict damage,' he jokes. So far this year, he's traveled to Singapore, Mexico, London and Brussels. 'It keeps us true to the old motto, the Citi never sleeps. Having a global team in with members in the US, Europe and Asia is extraordinary because the sun never sets on the team, people are always working. You can get a lot done.'"Mobile Banking...
Wednesday, 12 June 2013
B of A's Gopalkrishnan Uses 'Hackathons' to Create Mobile Apps"Like most of the bankers we profiled this year, Hari Gopalkrishnan, managing director, consumer and wealth management, ecommerce technology, consumer banking architecture and segments technology executive for Bank of America Merrill Lynch speaks of simplicity in mobile banking design and user experience."Feeling Insecure About Mobile Banking? You're Not Alone"It's a scary cyber-world out there, and fear concerning Internet security is one of the top reasons that bank customers avoid...
Tuesday, 11 June 2013
ING Direct Canada Tests Low- and High-Tech Touches"ING Direct Canada is testing an onboarding process that will reduce by 80% the number of questions that new customers have to answer. Charaka Kithulegoda, chief information officer of ING Direct Canada, said during his keynote address at the Mobile Banking and Commerce Summit that the bank aims to halve what has been a five-minute process. ING Direct is also running authentication pilot programs of voice and facial recognition biometrics with an aim to enhance security and customer trust. It plans...
Sunday, 9 June 2013
The Quest for Simplicity in Mobile App Design"We heard it again and again from Charaka Kithulegoda and other bankers honored in our Mobile Banker of the Year package this year: simplicity and ease of use are the keys to sound mobile banking app design. 'People don't live to bank, financial institutions exist to serve their needs,' observes Hari Gopalkrishnan, a managing director at Bank of America."You Talking to Me? How Voice Is Revolutionizing Mobile Banking"Want to race? Pull up your mobile banking app, enter bill pay data, click pay. I'll use...
Thursday, 6 June 2013
Time for Mobile Banking Apps 2.0: What Consumers Want from Mobile Banking"In an early May report, the Credit Union Times called for a revolution in the world of banking apps, a “Mobile Banking 2.0″ that fixes the problems of the first forays into the field and yields real customer engagement. According to the article, the current generation of mobile banking apps are static and unengaging — at most institutions, the vast majority of interactions via the mobile channel take less than a minute. For younger consumers, these utilitarian functions...
Wednesday, 5 June 2013
Malware Threats Rise for Mobile Banking"As apps shrink the gap between financial firms and their customers, banks are coping with new and growing risks that accompany mobile devices. Malware tailored to browsers made for miniature screens; scams aimed at duping smartphone users; hackers intent on phishing attacks meant to ensnare tablets — all the threats bankers deal with on the desktop have moved to people's pockets." Why is Mobile Banking Considered Unsafe?"According to an American Banker survey conducted this year, the percentage of consumers...
Tuesday, 4 June 2013
Visa likely to launch mobile financial services next year"Visa Inc, a global payments technology provider, is expected to launch its own mobile financial services (MFS) platform in Pakistan next year, according to Kamil Khan, Visa’s Country Manager for Pakistan and Afghanistan. The players already operating in the mobile banking segment will be attached to Visa card, Khan told a group of journalists at a lunch at Sheraton Hotel on Wednesday."RBI asks banks to expand internet, mobile banking reach"The Reserve Bank of India (RBI) has asked commercial...
Monday, 3 June 2013
CR Money Minute: A better mobile wallet?"More than 18 months ago, Google Wallet was launched on the Sprint cellular network amid hoopla that payment-by-smart-phone technology at cashiers nationwide would replace your plastic debit and credit cards. Since then, AT&T, T-Mobile, and Verizon Wireless have begun testing their own Isis Mobile Wallet, and other companies have also jumped on the bandwagon."Mobile Payments: Is Your Bank Putting Its Best Foot Forward?"As mobile communication becomes more and more affordable and user-friendly, mobile...
Sunday, 2 June 2013
New Mobile Banking Intensity Index Monitors Apps and Adoption"American Banker has launched the Mobile Banking Intensity Index, a monthly gauge of mobile banking deployment and adoption in the U.S. The initial reading of the index confirms what many bankers know from their own experience: adoption of mobile banking is expanding at a fierce clip. The MBI is a diffusion index, and its initial reading of 70.4 indicates strong expansion of mobile banking...
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