"Garanti Bank, Turkey's second-largest private bank, has introduced a mobile dashboard called iGaranti that lets users cherry pick the features of their mobile banking apps. The customization capability is similar to the way people pick which apps appear on their smartphones' home screens. Garanti partnered with Fjord, an Accenture Interactive-owned service design agency that also counts Citi as a client, to build iGaranti. The platform, rolled out in May, comes with a set of more than 15 apps, some of which are preloaded onto the dashboard,...
Monday, 30 September 2013
"New Zealanders have been slower to take up smartphones than their Trans-Tasman counterparts-but once they get one, they are more likely to bank on them, the latest Digital Universe report from Roy Morgan Research shows. Just 38.6% of New Zealanders 14+ have a smartphone, compared with 59.7% of Australians 14+. But while Australia may be home to over eight times as many smartphone users overall, New Zealand's 1.4 million are more likely to use them for mobile banking activities.In the first half of 2013, 33.5% of New Zealand's smartphone users...
"Mobile banking. It's a must-have in the modern world. Banks are piling in and consumers are lapping apping it up. But CommBank has given new meaning to the term with two fully-functioning portable banks built in shipping containers.The thinking is that the pop-up banks can be deployed to areas affected by natural disasters and provide cash and insurance advice to families to help them rebuild, according to a report in The Daily Telegraph. It stemmed from CommBank's experiences during the Black Saturday bushfires in 2009." Continue Read...
"According to the report, mobile broadband connections are expected to increase almost four times from 2012 to 2016 to over 160 million in Sub-Saharan Africa, adding that mobile broadband has been driving financial inclusion through mobile banking and mobile money across the continent while supporting new ways of delivering healthcare in many countries.The Broadband Commission for Digital Development is a joint initiative of the International Telecommunication Union (ITU). The task force which delivered the report was led by Hans Vestberg, President...
"FICO (NYSE:FICO), the leading provider of analytics and decision management technology, alerted chiefs of leading Asian banks to the growing threat of enterprise fraud at its annual Fraud Forum in Manila this month. FICO urged the bankers to adopt the latest operational and analytic techniques to fight fraud across such emerging threat vectors as demand deposit accounts, mobile channels, application fraud and merchant fraud, as the region shifts to a post-EMV chip landscape.The conference attracted nearly 30 of the leading banking fraud and risk...
"Financial services institutions must gain a better understanding of the mobile payments market, according to Ovum. New research from the global analysts indicates that there is still confusion about how to proceed in the rapidly shifting mobile payments space.The research highlights that without a clear understanding of the relationship between mobile payments and the existing payments infrastructure, industry players will significantly miss out on the long-term potential of the market." Continue Read...
"MasterCard ranked Canada the second most well prepared market in the world for mobile payments adoption last year (Singapore was no. 1). A big reason for that is the density of mobile payments players located here in the Greater Toronto Area in Ontario, where I am touring the ongoing development of the mobile payments ecosystem.Simply put all the companies in the mobile payments industry here are neighbors, and seemingly friends. Toronto is the headquarters of all five of Canada’s big banks, as well as its three major telcos, Rogers, Bell and...
"Westpac unveiled today its new digital and mobile strategy, which aims to offer a full-featured banking experience across smartphones, tablets and PCs.'Our strategy is to be different from our peers, but only to be different from our peers because we believe that’s the way that our customers are interacting with us more and more, and to deliver the best digital solutions for our customers,' says general manager retail bank Ian Blair.According to Blair, Westpac is making an investment of over $15 million over next 18 months in order to realise...
"Financial services have become essential for everyone in the vibrant and technology-driven economic and social makeup. About 30 per cent people of the country live below the poverty line to whom having a bank account is a luxury. And about 70 per cent of the population is from rural areas where minimum living standard is hardly maintained, let alone banking and financial services.Although some branches of state-owned as well as private commercial banks are available in district towns and in some upazilas, it takes time and money to visit those...
"National Australia Bank has become the latest bank to take on peer-to-peer payments, with a new mobile app that will allow its customers to transfer money using a mobile number, email or Facebook message. After more than six months of internal trials, NAB will this week release Flik, letting customers bypass the convoluted process of entering bank-state-branch (BSB) and account numbers to transfer money.Instead, customers can transfer money using an email address, SMS message, or through Facebook. It also allows customers with compatible Android...
Sunday, 29 September 2013
"Keynote has ranked Chase's mobile banking app the top in its class for the fourth time in a row. The bank's leadership is based on the fact that it offers robust functionality, a strong user experience, and streamlined navigation, according to Susan Foulds, manager of the Keynote Mobile Banking Scorecard.That said, scoring among the top-tier banks - Chase, Bank of America, Wells Fargo and newcomer U.S. Bank -- is tightening, Foulds says." Continue Read...
"While the core bank account has long been a cornerstone of banks’ relationships with their customers, Celent asserts in a new report that the core bank account must evolve to maintain its relevance in the digital world. The report poses a crucial question: In the not too distant future, will the “new bank account” need to have the following capabilities?" Continue Read...
"When it comes to online or mobile banking, there is a presumption that most Boomers would just as soon step up to a teller window or go through the drive-through. Reasons range from security and privacy issues to lack of wireless access, to simply having a higher comfort level with traditional, brick-and-mortar banking. In other words, “talking to a person.”The rapid evolution of technology has led to tremendous differences in channel preferences among the generations. Millennials and, to a slightly lesser degree, Gen X have grown up with technology....
"When Apple talks, who doesn’t listen? In mid-September the Cupertino, Calif., tech behemoth announced it would make fingerprint authentication available on its new iPhone 5S and immediately, across financial services, the question was raised: Will this impact mobile banking logins?At the crux is the realization that the traditional username/password login is broken. There are way too many compromised logins and thus a rush to perfect other forms of authentication, often biometric." Continue Read...
"How will financial marketers promote banking products when the shopping experience starts and stops purely in the mobile channel? Because that day is just around the corner.Not long ago, when financial marketers needed to promote a banking product, they knew exactly what to do. They would simply run some ads in the newspaper and sent out a few postcards. The campaign ran, the numbers came in, and voilà… success!But in the next few years, consumers are going to shop for financial services in completely new ways. What will financial institutions...
Thursday, 26 September 2013
"It doesn't take a deep examination to realize that the mobile banking and ATM channels are heading toward convergence. And when the fusion of these dominant channels occurs, the consumer should be at the heart of it.Auriga, Diebold, NCR and Wincor Nixdorf International have all demonstrated their mobile phone-based cardless cash withdrawal solutions. It is interesting to note that all of these vendors have embraced the QR code technology — a clear endorsement for a technology that is secure, low-cost, and readily available." Continue Read...
"It's no secret that banks that fail to embrace online and mobile distribution platforms aren't long for this world. 'There is a broad consensus within the banking industry that digital channels are a crucial way forward,' observed a recent report on mobile banking by financial services consulting company Celent.What's less obvious, however, is the answer to the question of who is winning the mobile race." Continue Read...
"The Internet security firm McAfee Labs said it identified 17,000 new unique forms of mobile malware targeting Android-based devices in the second quarter of 2013, a 21-percent rise on the 14,000 new unique strains it identified in the first quarter. In the document, 'McAfee Threats Report: Second Quarter 2013,' the Santa Clara, Calif.-based firm said it expects malware strains to double this year from 2012. A key driver in the growth is the proliferation of backdoor Trojans that steal personal data without the victim's knowledge, along with...
"TD Bank, America's Most Convenient Bank(R) , recently launched mobile deposit through the TD Bank mobile app for Android(TM) and iPhone(R) , providing customers with a simple, safe and convenient option for depositing checks into their accounts.Available to all TD Bank customers of at least 90 days with an active checking, savings, or money market account, TD Bank Mobile Deposit offers the capability to deposit a check from anywhere at any time." Continue Read...
"Citi has launched two new efficiency applications for financial institutions that are available on mobile devices – CitiDirect BE Payment Advisor and Payments Directory Mobile.CitiDirect BE Mobile Payment Advisor is a mobile-enabled application that allows banks, their customers, or third parties to track the status of a payment at any time and from any mobile device, similar to tracking the status of a package." Continue Read...
Wednesday, 25 September 2013
"SAP AG (NYSE: SAP) today announced the findings of a global study across 17 countries on cultural, economic and technology trends impacting consumer mobile appetite and how addressing consumer concerns can expand the opportunity and motivate greater use of mobile commerce services.The research shows that globally consumers are increasingly utilizing mobile devices for banking transactions and account management. Half of the respondents surveyed turn to their devices to pay a bill (55 percent), make a bank transfer (52 percent) and set up a new...
"While traditional banking is not going anywhere anytime soon, mobile is creeping up as a primary choice for banking, with some banks even going branchless in favor of the new medium.Two banks, Simple and ING Direct, offer consumers branchless banking that emphasizes the consumer need for transacting at any time and from any place. Mobile has opened up new possibilities in the realm of banking and is pushing to the forefront of the vertical." Continue Read...
"Barclays has launched a mobile checkout feature that allows users to make purchases from a mobile web or checkout page, as well as a "buy" feature that allows consumers to purchase from as advertisement via QR code for their Barclays Pingit mobile application.The mobile checkout feature allows consumers to pay without entering a large amount of personal details often difficult to type in on a mobile device, the bank said." Continue Read...
"According to the BMO Mobile Banking Survey released today, the majority of mobile owners in Canada take advantage of financial apps with two-thirds (69 per cent) of respondents saying they began using them within the past year. The survey, conducted by Pollara, revealed:In total, 68 per cent of Canadians own a mobile device, with 70 per cent of those saying they use mobile banking apps Those who use mobile apps for banking use them frequently, with nearly three-quarters (72 per cent) saying they use them on a weekly or daily basis." Continue ...
Tuesday, 24 September 2013
"Much has already been written about the transition between multichannel to omnichannel strategies of offering products and services to customers. As a result, more is starting to be written about exactly how to effect that transition. To recap: Multichannel banking generally is seen as the ability to offer certain banking functions through a number of different access points.These can include the traditional branch, call center, online banking, ATMs, and mobile banking. In most applications, some consideration is given to making sure the customer’s...
"American Banker’s Mobile Banking Intensity Index (MBII), a monthly measure of mobile banking deployment and adoption in the U.S., revealed a continued expansion in the June reading of 72.5, although at a slower pace than the growth experienced in May at 73.8.The index was developed by the Research unit of SourceMedia, a diversified provider of B2B news, analysis and marketing services and owner of American Banker, in partnership with Verizon." Continue Read...
"U.S. Bank and Western Union are collaborating to expand Western Union Money Transfer(R) services to U.S. Bank customers via online banking and, for the first time, through mobile banking. This makes U.S. Bank the first bank in the United States to seamlessly integrate the Western Union(R) global money transfer capability directly into its mobile banking application ("app"). U.S. Bank has offered Western Union Money Transfer services through its branches since 2009 providing its customers the ability to send money to more than 500,000 Agent...
"FreedomPay®, creators of the world’s most innovative commerce platform, joins Microsoft Corp. (Nasdaq: MSFT) at SIBOS 2013 to introduce Payments Platform as a Service. This cloud-based payments and incentives solution takes advantage of the FreedomPay Commerce Platform™ to deliver mobile payments, offers, digital wallet and commerce solutions with banking-grade security through an alliance with Microsoft." Continue Read...
Monday, 23 September 2013
"With increasing competition, emerging customer demands, regulatory interventions, technology-led disruptions and higher shareholder expectations, Indian banks are being forced to constantly review and revisit their operating models and constantly optimising the use of technology and other alternate channels as the change agent.For instance, the number of mobile banking transactions doubled to 5.6 million in January this year, from 2.8 million in January 2012. The value of these transactions increased three-fold to Rs 625 crore during in Juanuary,...
"Bangalore: The pace of life is increasing, so is the need of people to adjust with it. ‘The quicker the better’ is the latest slogan and as such people rely a lot in technology to make their life better. The major influence of technology can be seen in banking sector that evolved over the years.Gone are the days when people used to queue in front of banks to deposit a check or fulfill a mere banking formality. But now the trend is of mobile banking. But like most of the stories have a flip side, so thus mobile banking, reports Sienna Kossman...
"Latin America has surpassed 100% mobile phone penetration, according to the latest data from World Bank. In reality, about 30% of the population still doesn’t have a phone. (Urbanites with more than one phone inflate the number.)Still, adoption is strong and growing. It follows that banks in Latin America have been embracing mobility: releasing feature-rich mobile apps primarily, and also updating online banking offerings and targeting the unbanked and underbanked." Continue Read...
"Consumers will be able to use their mobile smartphones to pay for goods at thousands of stores across Britain from next year. A deal between mobile phone app company Zapp and payments firm Worldpay, which provides card machines at tills and payment software for online retailers, will allow retailers to accept payments from your mobile.Among the first stores which have signed up to the scheme are WH Smith, Lidl, Superdrug and McDonald's. Due for launch in summer 2014, the app will work by using a code sent to a customer's smartphone when they...
"Initiatives taken by the Bangladesh Bank to ensure financial inclusion deserve mention. In the financial sector, the concept of mobile banking is being applied impressively to bring a large number of people under the umbrella of banking and to let them enjoy the ease of modern technology." Continue Read...
Sunday, 22 September 2013
"The financial technology industry gathered this past week in New York City for Finovate Fall this week, and, as one would expect, mobile was a dominant theme among the new solutions unveiled.A number of solutions on display were aimed at simplifying and optimizing the mobile experience for both bank employees and customers." Continue Read...
"A recent study by the Pew Research Center indicates that more consumers are taking advantage of the simplicity, ease, and convenience of online and mobile banking.The report found that 51 percent of American adults and 61 percent of Internet users use online banking. It also discovered that 32 percent of adults have turned to their mobile devices for their banking needs. The number of Internet banking users saw a jump of 5 percent since the same survey was conducted by Pew in 2010. But the more remarkable increase occurred in mobile banking...
"The most significant aspect of Apple's forthcoming iPhone 5S smartphone, some say, is the powerful new processor it will contain. The A7 chip has a 64-bit architecture, which could allow applications to handle large data sets more efficiently.This brings opportunity and challenge for mobile banking app developers, who could take better advantage of customers' location data, data gathered from nearby sensors and other data sources in real time. They will need to rewrite their programs in order to take advantage of the faster processor." Continue...
"If you’re a business customer with FirstMerit Bank – the bank that acquired the former Flint-based Citizens Bank in April 2013 – you can now handle most of your banking on your mobile device.FirstMerit Corp. introduced mobile business banking for business customers on Friday, Sept. 13, through both downloadable mobile banking apps and Short Message Service text banking features." Continue Read...
Friday, 20 September 2013
"A report from Juniper Research has revealed that mobile money transfers will reach a total of 389 million users by 2018. The use of such services in Asian and African nations will drive this huge rise in usage, which initially sounds surprising until we dig deeper into the issue.The key reason for this is that the banking systems in many of these nations are not highly developed or widely used. For example, in Tanzania only 17% of people have a bank account whilst more than 66% of the population own a mobile phone. Many networks are keen to exploit...
Thursday, 19 September 2013
Citibank exec: Tablet moves beyond being a lean-back device"A Citibank executive at the Mobile Marketing Summit: Holiday Focus 2013 said that the company is adapting its mobile banking efforts to meet the evolving consumer relationship with tablets. In the session “How mobile and tablet banking is rapidly evolving customer relationships,” the exec explained how tablets are becoming more of an on-the-go device that drives the need for improved mobile banking offerings. Citibank views tablets and smartphones as part of a larger ecosystem that blends...
Wednesday, 18 September 2013
HSBC customers hit by online banking outage"Customers of HSBC were unable to access online banking for a period of time this morning due to an IT-related failure. Customers vented their frustrations on Twitter on Friday, complaining that they are unable to access their online and mobile banking accounts. Laura Harper (@LauraJHarper24) tweeted: '@HSBC_UK_Help please can you sort out your online business banking. Going very slow this morning & I have people waiting to be paid!'"Bank? What bank? Orange, Visa and the changing face of Africa's...
Tuesday, 17 September 2013
Are mobile banking apps secure?"A recent experience with a credit card app has a Wake County man questioning if his account information is secure when using his cell phone. You can access these mobile banking apps on your smart phone and tablet. Justin Frechette wanted to check his Capital One credit card account, but instead he was able to see someone else's activity. 'Logged in made sure the payment I recently made posted to the account and that...
Sunday, 15 September 2013
Digital strategies must pass the ROI test"Large investments in emerging services like mobile and online do not always translate into higher customer satisfaction or even high financial performance, says Javelin Strategy and Research in a recent report. The firm also released a new competitive benchmark service, Outperform, which is a result of analyzing over 20 leading financial institutions. It provides insights to improve each banks’ return on investment on emerging bank services—mobile and online banking services."Banking leads on-device conversion"Banking...
Thursday, 12 September 2013
Increase Mobile Banking Adoption"Yes, more consumers are using mobile devices - A 2012 Federal Reserve mobile financial services study indicated that the majority of American consumers use some form of technology to interact with their financial institutions. Yes, more customers are using mobile banking - The Fed survey found 21 percent of mobile phone owners have used mobile banking in the past 12 months; 11 percent of those not currently using mobile banking think that they will probably use it within the next 12 months. Yes, there is cost...
Wednesday, 11 September 2013
Jeff Salway: Banking bandwagon not such a safe ride"I WAS recently accused by a friend – a self-confessed geek – of being scared of new technology; I prefer to believe I’m just too cynical to jump on the latest high-tech bandwagon. That includes mobile banking, which is one bandwagon the banks would very much like us all to leap on to, and in this case my cynicism may be more than justified. Mobile banking refers to the use of mobile phones and other handheld devices, such as tablets, to make payments, transfer money, check statements and so...
Tuesday, 10 September 2013
Leading lawyer on FCA interest in mobile banking"The mobile banking market is expanding rapidly and Clive Anderson, Director of Supervision at the FCA, stated that it is right that the FCA now takes stock of recent developments and looks at how consumers can be ‘appropriately protected' in the future. Leon Deakin, senior associate at leading national law firm, Thomas Eggar LLP, comments: "Whilst these developments and the FCA's interest is welcome it does again demonstrate that the law and regulation so often lags behind technological developments....
Sunday, 8 September 2013
Wells Fargo mobile guru Steve Ellis to keynote TabletBiz conference & expo"The tablet event of the year kicks off November 13 in New York with the executive who helped Wells Fargo transition into online and mobile banking. Steve Ellis is a bit of a mobile guru when it comes to mobile banking. The fast pace of Wells Fargo’s early move into online and mobile financial services, including tablets was due in large part to his commitment to fostering workplace creativity. Ellis is executive vice president and group head of the Wells Fargo Wholesale...
Thursday, 5 September 2013
Tablet Banking Taking Off Among Fiserv Bank and Credit Union Clients"New tablet app includes robust functionality including bill payments, person-to-person payments and mobile deposit --More than 100 institutions already committed to deploy Mobiliti: Tablet to meet growing consumer interest in tablet banking Fiserv, Inc. FISV +0.15% , a leading global provider of financial services technology solutions, today announced the launch of Mobiliti(TM): Tablet, a turnkey ASP solution tailored for tablet users. Mobiliti: Tablet joins the company's existing...
Wednesday, 4 September 2013
Mozido Eyes Caribbean Mobile-Money Roll-Out"With at least one tangible project in the works in Jamaica, Kavin Hewitt, CEO of Mozido Jamaica Limited, says the company will use expertise developed over the last three years to execute a Caribbean roll-out of mobile banking services and other products. The company is the technology partner to Jamaica Cooperative Credit Union League on JCUES, the first private mobile-money product to be approved by the central bank."YellowPepper secures $15M in funding, now based in Miami"A Latin American tech company...
Tuesday, 3 September 2013
How City Bank Gets New Mobile Banking Ideas to Market First"Jim Simpson, CTO of City Bank Texas, explains how and why his community bank has been the first U.S. bank to go live with several new mobile banking tools."Mobile banking catching on, especially with women"We all, in varying degrees, are more and more living our lives on the go. So, things such as personal contact with your favorite bank manager or flirting with the cute teller at your financial establishment’s drive-thru window are becoming a thing of the past. According to a recent...
Monday, 2 September 2013
Mobile banking risks revealed by FCA"Fraud and mistakes on fiddly keypads could create problems for people who use banking services on their mobile phones, a regulator has said. Consumers transferring money should be careful to enter correct details on the smaller keypads, the Financial Conduct Authority (FCA) said. They might also be using mobile banking late at night, which could affect their concentration when moving funds. The FCA is studying the potential risks to customers of mobile banking."Cyber criminals crack two-factor bank authentications"Users...
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