M and T has issued 10 million alerts to customers"It’s pretty clear: M and T Bank customers want to keep close tabs on their accounts. Last September, the Buffalo bank introduced a dozen customizable account alerts for customers using the M&T mobile banking app. Less than 12 months later, the bank has issued 10 million-plus such alerts via text messages, emails and push notifications, according to an announcement today."Banks Must Enter Businesses (Seemingly) Unrelated to Banking"The startup scene offers a glimpse into what the future of banking...
Wednesday, 31 July 2013
Tuesday, 30 July 2013
Fostering Financial Inclusion with Mobile Banking"The annual growth rates of mobile phone penetration in the developing world have ranged between 30% and 50% or higher, and penetration has been rapidly increasing. In Africa, mobile phone penetration has exploded during the last ten years. Between 1998 and 2009, Africa witnessed an increase from 0.53 per 100 people to 42.82 per 100 people. At the same time, the average price of a 2G handset decreased from USD 150 in 2003 to USD 75 in 2008. Africa is now considered to be the fastest emergent continent...
Sunday, 28 July 2013
Visa, Movida, ICICI Bank expand mobile banking services to make India cashless"Visa Inc. and Monitise’s joint venture, Movida, has partnered with India’s largest bank ICICI Bank to expand its mobile payments service. The mobile payments company launched last December after partnering with India’s second largest bank, HDFC. With the addition of ICICI, Movida will be able to reach more Indian consumers."The Future of Mobile Payments and Banking"The role of traditional banks continues to change, and more rapidly than before. Where we once would have...
Thursday, 25 July 2013
Banks Struggle with the Decision to Offer Small Business Apps"Since Apple released the iPhone in 2007, mobile banking apps for retail banking customers have become the financial equivalent of the little black dress — a must have. Yet, one customer type has been neglected in the app stores: small business owners. 'The commercial market is still growing and there are a lot of things people are trying to figure out,' says Megan Minich, head of product delivery and channel delivery at Silicon Valley Bank. She has worked on commercial mobile apps since...
Wednesday, 24 July 2013
Easy Solutions Helps Fight Mobile Banking Fraud with Detect Safe Browsing (DSB) 4.0, Now Available for iPhone and Android"Easy Solutions, the Total Fraud Protection(R) company, today released Detect Safe Browsing (DSB) version 4.0. With DSB 4.0, financial institution can provide an important additional layer of fraud prevention to the end-user, to better protect against malware and other sophisticated threats such as, pharming, man-in-the-middle (MITM) and man-in-the browser (MITB) attacks. With DSB 4.0, Easy Solutions now extends this support...
Tuesday, 23 July 2013
Over 80 million people in Middle East and Africa will turn to mobile banking by 2017"Experts predict that mobile banking in the Middle East and Africa will jump from 19,8 million to 82,1 million users by 2017. Over the last five years the developing world has experienced substantial growth in the adoption of mobile technology. Emerging markets offer not only new possibilities for traditional banking but major potential for transformative banking."BMI Bank launches mobile banking service"Bahraini retail and commercial banking institution, BMI Bank...
Sunday, 21 July 2013
Future Mobile Awards - Winners Announced for Mobile Commerce"Companies at the forefront of new developments in Mobile Commerce have been honoured in this year’s Juniper Research Future Mobile Awards."Ad Lab: Banking Billboards, Print Ads And Outdoor Galore"Here are two more excellent examples further illustrating the powerful relationship between that can be forged between outdoor marketing messages and their environmental context. In the first example from Palmetto Bank, you have to look closely to realize that it is actually a branch entrance...
Thursday, 18 July 2013
Banks ‘galloping ahead’ to help you manage your money on mobile"Most of us will not consider our bank to be a hotbed of innovation. But banks are toying with various open-source projects and are rapidly developing ways to help you manage and share money from a smartphone. “For an industry that has been tarred with the brush of being old-fashioned, banks have realized they need to innovate fast and are galloping ahead,” said Mark Curtis, chief client officer for Fjord, onstage today at VentureBeat’s MobileBeat 2013 conference."Nina the mobile accessibility...
Wednesday, 17 July 2013
NFC mobile payments: overcoming the barriers for banks"The past few years have seen major changes to the way consumers make low value payments, from pre-paid wallets such as the Oyster Card through to Contactless Cards in retail transactions – thanks to Near Field Communication devices, writes Ben Leighton. Contactless cards in particular are gaining a good deal of momentum in the UK; the majority of major banks now issue them, and large retailers are increasingly accepting them. Only recently, Starbucks pledged to roll out contactless terminals...
Tuesday, 16 July 2013
New Report: Consumers Say Security No. 1 Concern in Mobile Banking"Security fears are the no. 1 barrier banks must face when introducing mobile banking to customers, according to a recent survey conducted by Monitise, which found that 70% of the respondents viewed security as a major concern in mobile banking. The survey also found that 71% of respondents ranked security as “highly important” in choosing or switching banks. Roughly 90% of users say they enter a user name and password to access mobile banking apps. Approximately half prefer to...
Monday, 15 July 2013
BPI sees mobile banking transactions rising rapidly"THE Bank of Philippine Islands (BPI) anticipates a sharp rise in mobile banking transactions this year. In a statement sent by e-mail, BPI executives said that since the first launching of their mobile banking application in 2011, more than half of mobile banking enrollees transact with the bank using their mobile apps. According to BPI executives, the number may rise further in the wake of the adoption of the latest version of the BPI Express Mobile App."Mashreq Qatar launches smart banking with...
Sunday, 14 July 2013
Allied Payment Network and Malauzai Software Expand Picture PayTM Solution as a Stand-Alone Mobile Bill Payment Application"Allied Payment Network, a provider of online bill payment services to the financial industry, and Malauzai Software Inc., a provider of mobile banking SmartApps for community financial institutions, announced that Picture PayTM is now available to any financial institution as a stand-alone mobile bill payment solution, even those that use a different mobile banking provider. Picture Pay can now be implemented by any bank...
Thursday, 11 July 2013
Mobile Banking? There’s an App for That — and Often a Sizable Fee Too"Banking with your smartphone? There’s an app for that. But some customers are finding there’s a fee for it as well. Mobile banking has grown significantly in the past couple of years. The Pew Research Center says more than half of Americans now have smartphones. Consultants at the Aite Group said in a report last year that the number of people banking on their phones will triple by 2016."BBVA Compass economists examine mobile banking, crowdfunding, other trends in latest quarterly...
Wednesday, 10 July 2013
Will 2014 be the year that mobile payments succeed?"2011...2012...2013… each have been touted as the year that mobile payments will reach a tipping point, yet it would seem that adoption is lagging behind the news hype, at least in the UK. While mobile banking is now mainstream and accepted (even demanded for by some consumers), we just don’t seem to have taken to mobile payments at the point of sale as quickly. But is all this is about to change?"Will Consumers Cash in on Mobile Payments?"Whether it’s checking the weather, getting directions or...
Tuesday, 9 July 2013
Nigeria: CBN Explains Restriction of Telcos From Mobile Banking Services"The Central Bank of Nigeria (CBN) yesterday gave reasons for the restriction of telecommunication companies from offering mobile banking services in the country. The Director, Banking and Payment System Department, CBN, Mr. Dipo Fatokun, stated that telcos were not given the opportunity to provide mobile payment services because the central bank did not have direct control over them."CBN Blames Failure Of Telecoms Synergy On Mobile Payment Hassles"The CBN says its inability...
Sunday, 7 July 2013
Mobile Banking Fees On The Rise"Banking fees appear to be coming to your phones and tablets. As more and more banks offer the speed and convenience of mobile banking they are also finding that it can be a lucrative revenue stream as well."Jack Henry Service to Help Banks Prepare for Digital Banking Rules"Although there are few industries as heavily regulated as banking, Washington has yet to provide clear rules around online and mobile banking....
Friday, 5 July 2013
Banking fraud targets device vulnerabilities"A statement released by the South African Banking Risk information Centre (Sabric) has highlighted the importance of vigorous security measures for both PC and mobile consumers to avoid banking fraud. According to Sabric, criminals are able to send malware, or malicious software, to customers’ devices, enabling them to capture keystrokes, while mobile banking takes place from that device. The malicious software can include worms, viruses or Trojans, and devices are often infected when users download...
Thursday, 4 July 2013
Would You Pay a $5 Mobile Banking Fee (Video)To Boost Mobile Banking Adoption, Engage Branch and Call Center Staff Says Fiserv White Paper"Fiserv, Inc. FISV -0.74% , a leading global provider of financial services technology solutions, has published a new white paper that explains how financial institutions can boost mobile banking adoption by utilizing frontline staff at branches and call centers as mobile banking experts. The complimentary white...
Tuesday, 2 July 2013
Pay-what-you-want GoBank puts mobile users first"A new player has emerged at the forefront of mobile banking with the hopes of capturing the nation's youngest banking audience and setting the tone for what it means to bank virtually. Launched to the public on Tuesday, GoBank is the first bank designed specifically for mobile use. All functionality is available through its app, everything from opening your account to paying bills to managing your budget."Mobile Banking Activity Rose in May"Along with temperatures in most parts of the country, mobile...
Monday, 1 July 2013
Kenya: Barclays Bank Launches Mobile App"In Kenya, The Star reports that Barclays Bank of Kenya has introduced a mobile banking app (BarclaysKenya), said to have similar functionality of the financial institution’s full online banking platform. The service is freely available and accessible to customers who have registered successfully for Barclays Internet Banking writes The Star."Mobile-solution company Tagit to expand in the Philippines"SINGAPORE-based mobile-solution company Tagit is planning to expand its business in the Philippines by offering...
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