Thursday, 28 November 2013
"Although digital wallet technology is a relatively new perk, not having it can be a deal-breaker for millions of banking customers. According to a recent study conducted by Cognizant Business Consulting, the expansion of mobile banking options will be a key determining factor in customer loyalty going forward.
The study, which surveyed 2,100 banking users, revealed that a large share of customers consider improved functionality and more options for mobile banking to be high priorities when considering whether or not to join a bank." Continue Reading
The study, which surveyed 2,100 banking users, revealed that a large share of customers consider improved functionality and more options for mobile banking to be high priorities when considering whether or not to join a bank." Continue Reading
"More Americans are turning to mobile banking because it is fast, convenient and free. You can manage your accounts directly from your smartphone, whether it be deposits or transfers. What would happen if you suddenly had to pay for this service? Would you still us it? Sadly, that could be something to watch for in the future." Continue Reading
"At the present moment, mobile payments are thought of as mostly a payment system through the use of mobile phones. These phones allow us access to our online accounts through websites and apps, and even mobile banking can allow for a "pay by phone" at point of sale if you've forgotten your wallet. However, in the not-too-distant future, wearable technologies such as Google Glass may supplant your phone. A "Glass payment" does sound a bit odd, doesn't it?" Continue Reading
Wednesday, 27 November 2013
When Sion, a former Citibanker who once built a digital brokerage platform, took the job at Moven, he told American Banker, 'We're heads down and hell bent on changing the world of banking.'" Continue Reading
"JPMorgan Chase posted the biggest loyalty gains in 2013 among US national banks thanks to selective investments in mobile technology and more effective marketing, according to research by consultancy house Bain. Using data from a survey of almost 200,000 consumers in 27 countries, Bain finds that most banks are missing prime opportunities to deepen their existing customer relationships and are ceding new product sales to competitors." Continue Reading
"The Reserve Bank of India has reported that the number of mobile banking transactions in India has increased by 6.01% to 7.1 million transactions (7,169,429 transaction) for the month of September 2013, up from 6.76 million transactions (6,762,969 transactions) reported in August 2013. The total amount transacted for the month has also increased by 10.85% to Rs 1.57 crore (Rs 1,56,59,947.20) from Rs 1.41 crore (1,41,27,755.94) in August 2013." Continue Reading
"Thirty-five percent of banks’ market share in North America could be at risk by 2020, as traditional branch banking gives way to digital banking and as new competition emerges, according to new research by Accenture. Accenture’s market-analysis indicates that by 2020 an estimated 15% of traditional banks’ revenues could shift to online-only players, including branchless banks and new technology entrants." Continue Reading
"Rogers Communications, Canada's largest telco, has moved into banking and plans to issue credit cards — both a plastic version and a mobile version that will be stored on Rogers smartphones. The mobile carrier received the go-ahead in September from the Office of the Superintendent of Financial Institutions to launch the credit card business.
It's the first Canadian telco to enter the credit card market, and the move could have a profoundly disruptive effect on the country's banking industry." Continue Reading
It's the first Canadian telco to enter the credit card market, and the move could have a profoundly disruptive effect on the country's banking industry." Continue Reading
Tuesday, 26 November 2013
"As mobile banking is gaining traction, traditional banks are struggling to adapt to the new reality where physical in-store interactions are no longer the status quo. With Barclay’s reportedly laying off 1,700 of its retail employees in response to the rise in mobile banking, the traditional teller may be nearing extinction." Continue Reading
"Banks are scaling back its traditional branch network as consumers increasingly turn to their smart phones and tablets to bank. In a recent report, consulting firm Accenture says 35 percent of banks’ market share in North America could be “up for grabs” by 2020." Continue Reading
"A few weeks ago, my mother, seemingly at random, decided to extol the virtues of a bank innovation circa 1970. 'I love having a debit card,' she said, while getting ready to leave the house. 'Really, mom, a debit card?' I replied. 'Yes,' she said. I turned to see she was holding a deposit envelope. 'I use the ATM for everything. I never have to go into a bank.'" Continue Reading
"The bank was selected from four nominations shortlisted for the award. The award recognizes the bank's efforts to take mobile banking services to the next level. Consumers are increasingly relying on their mobile device for everyday activities, from listening to music and communicating with friends, to taking and sharing pictures, and shopping. This is only getting more popular as smartphones get smarter - with their ability to know where we are, to hear, and to see." Continue Reading
"It's that annoying moment we all hate. Perhaps the window cleaner has popped by and you’re keen to get them to clean the dirty glass upstairs. Or, you’re at a café splitting the bill with friends. Maybe a son or daughter is about to go out and is begging for cash. But then when you open your purse or wallet you realise that it’s empty — and there is no cash machine nearby." Continue Reading
Monday, 25 November 2013
'Then you had to add up all the numbers in your head, then you had to wait in line. Then you got to the front of the line and you had to make small talk with the bank teller, Barbara, about her daughter who’s in beauty school, which is really great but then you start thinking, ‘Well, how come your hair looks like that?’” Continue Reading
"CU Wallet a collaborative credit union owned and directed mobile payments technology provider, and Connect Financial Software Solutions, an online and mobile solution provider for credit unions, announced they have formed a strategic alliance to enable and equip credit unions with the necessary tools to succeed in an increasingly competitive mobile payments market." Continue Reading
"The rise of mobile banking has provided a range of benefits to customers since its launch, with convenience a major plus point. However, the Westpac NZ Mobile banking Report, which surveyed consumers in New Zealand, found that the use of internet-enabled mobile devices for banking purposes means that they have more control of their finances. Respondents also revealed that the use of mobile banking has raised their awareness of their financial situation." Continue Reading
"The results of Javelin Strategy & Research's annual Mobile Banking Financial Institution study show that Bank of America, Citizens Bank, USAA, BBVA Compass, Wells Fargo, Chase and others banks are topping all competitors in mobile banking.
Javelin's sixth annual Mobile Banking Financial Institution study evaluates the abilities of financial institutions (FIs) to meet consumers' growing mobile banking needs as they evolve from mobile account monitoring to mobile money movement and beyond." Continue Reading
Javelin's sixth annual Mobile Banking Financial Institution study evaluates the abilities of financial institutions (FIs) to meet consumers' growing mobile banking needs as they evolve from mobile account monitoring to mobile money movement and beyond." Continue Reading
"Mobile remote deposit capture has become one of the most sought-after mobile banking app features. Celent research found that financial institutions are answering consumer demand by adding MRDC to their product offerings: In 2009, 72 percent of FIs surveyed did not plan to offer MRDC. By 2012, 82 percent did intend to provide MRDC service." Continue Reading
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