Mobile Banking Updates - Jan 13

Retail Banking Predictions & Trends For 2013
"While The Financial Brand refrains from making any kind of annual forecast of trends in retail banking, there’s no shortage of experts weighing in with their predictions and resolutions for next year. What are some of the major themes that will dominate 2013? Here’s what they have to say."

Mobile Banking: Bigger Than I Thought…
"An early adopter of my bank’s mobile app, I have to admit that I really am not what you would consider a ‘power user’. While I enjoy the convenience of checking account balances from my iPhone, I really have not taken advantage of all of the features and services now available, which is somewhat surprising since I despise the process of visiting a bank, even to use an ATM."

Mobile banking to hit 1B users by 2017: study - Mobile Commerce Daily
"Mobile banking is expected to grow at a global compound annual rate of 18 percent to eventually reach one billion consumers in the next five years, according to a new study from Juniper Research. Juniper’s “Mobile Banking: Handset & Tablet Market Strategies 2013 – 2017” report looks at how mobile banking is spreading in both developed and underdeveloped countries. Overall, the report points to the growing maturity in the space over the past year."

Corporate Mobile Banking Offers On-the-Go Management Control System, But Enterprises Remain Wary
"Both banks and commercial enterprises tend towards caution when dealing with mobile banking for corporate transactions. This, despite online corporate banking offering executives "anytime, anywhere" management control functions, including viewing cash position in near real-time, approving payments and receiving alerts. Global Information Inc (GII) presents highlights from new market research on corporate mobile banking from our premium research partner Mercator Advisory Group, Inc. These reports individually and collectively offer valuable insights on the direction of the payments industry, both in relation to online corporate banking and out into extended applications of the technology."

Do What You Do: Capital One Touts Mid-Mobile Banking Multitasking
"The flurry of mobile banking ads lately is no accident. Just like every other business, banks have figured out that consumers are on the go — and connected — all the time. Banks are already scrambling to get their piece of the mobile payments market, and now mobile banking apps are the latest new thing. A slew of campaigns are featuring the ease of mobile banking, with banks such as Barclays expanding mobile. Bank of America says, 'Life is mobile. So is your bank.' Chase calls mobile banking, 'The power of Chase in the palm of your hand.'"

Mobile banking demand drives app development innovation
"Barclays bank says its decision touse private cloud and Linux will help it cut development costs and compete in the mobile banking sector. This year banks will invest in mobile banking platforms as the business case for these investments becomes easier to make in the light of increasing demand. Over a billion people will use mobile handsets to access banking services by the end of 2017, according to the results of a study by Juniper Research."

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International Mobile Banking Updates - Jan 10

Vietnam prepares for mobile banking push
"Vietnamese payment switch operator Smartlink has called in Singaporean vendor Tagit to help it build a mobile banking service. Tagit says that its Mobeix platform will be available to over 40 million card holders belonging to Smartlink's more than 50 member banks."

Asian corporates slow to adopt mobile banking despite consumer success
"The use of mobile phones to access account information has been gaining some level of popularity among retail consumers. Yet, despite the plausibility of scenarios drawn up by banks and the unambiguity of research results, an Asian response from corporate clients has yet to materialize. In 2007, North American Wells Fargo decided to introduce the service to its corporate clients as well – the first to do so among all the major banks. While many of its peers quickly drew up plans to jump on the bandwagon, the financial crisis refocussed their attention on more pressing issues."

Mobile Banking Use in U.S. Soars, Still Far Behind South Korea, India
"We learn that and much more from the latest Customer Loyalty in Retail Banking report just released by Bain & Company, a consultancy. The researchers have looked into 14 markets around the world and have surveyed 5,200 American consumers to gauge their traditional banking habits and attitudes toward newer channels, such as mobile banking. The report is full of interesting data, so I thought I should give you the bits and pieces I found most revealing of the current state of mobile banking in the U.S. I do, however, strongly encourage those of you who are in the m-payments industry to review the whole paper—there is a lot to be learned in it."

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Mobile Banking Updates - Jan 8

WILL MOBILE BANKING OVERTAKE ATMS IN 2013?
"More customers could deal with their bank via smartphone or tablet application than via the ATM network by the end of 2013, if the current adoption rate of mobile apps continues, according to one of St George Bank’s top technology executives. Speaking as the bank launched upgrades to its growing fleet of mobile apps, St George’s head of mobile, Travis Tyler, said once successful tap-and-go smartphone payment trials underway across the Westpac group are opened up to all customers, he believes mobile will become the most common way for customers to deal with the bank."

More Community Financial Institutions Offer Mobile Banking
"A growing number of community financial institutions are now offering mobile banking, despite continued concern over regulatory obstacles. According to a recent Independent Community Bankers of America study, 37 percent of community FIs currently offer mobile banking — more than twice as many as two years ago. Another 44 percent of community FIs plan to implement the service by 2014."

Banking technology getting more mobile in WNY
"First Niagara Bank is going mobile. The Buffalo-based bank is weeks away from the launch of its first mobile banking product. Bank officials say the free service, to be released in midwinter, is a response to customer demands."

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Mobile Banking Updates - Jan 6

Wells Fargo, Ally Bank See the Camera as Key to Mobile Banking
"A revolutionary as mobile banking has been, it's the camera that resides within smartphones that's lighting the fire underneath adoption drives at banks such as Wells Fargo (WFC) and Ally Bank. 'The camera is critical. If you look at the kinds of growth in mobile banking over the first couple of years, it was about the basics of mobile banking. But what's really exciting me and my team for the next couple of years is figuring out how to take advantage of the ability of the mobile device,' says Brian Pearce, senior vice president and head of the retail mobile channel in the digital channels group at Wells Fargo."

Bill Pay Coming to Mobile Banking!
"You will soon be able to access your MidWestOne Personal Online Bill Pay account through Mobile Banking. If you are enrolled in Personal Online Bill Pay and use either the downloadable application or mobile browser version of Mobile Banking, you will be able to pay bills from your mobile device! You will also be able to access Popmoney, our Person-to-Person payment service."

Bremer Bank to Expand into Mobile Banking and Payments with Mobiliti from Fiserv
"Fiserv, Inc. (FISV), a leading global provider of financial services technology solutions, today announced that Bremer Bank, an $8.1 billion bank headquartered in St. Paul, Minn., has selected Mobiliti™ as its mobile banking, payments and alerting engine. With Mobiliti from Fiserv, Bremer Bank customers will be able to securely access their financial information via their choice of SMS (text messaging), mobile browser and downloadable applications for Android™ and iPhone®."

Capital One boasts mobile banking through Web video initiative
"Capital One has rolled out an online video series that spotlights how fast and easy the company’s mobile banking options are. The primary goal behind the video campaign is to educate consumers on how to use the Capital One mobile banking application. Four videos are involved in the series with a fifth one planned for later this year."

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Mobile Banking Updates - Jan 3

Mobile Banking's Future to Include Voice Recognition, Wells Fargo's Ellis Says
"Steve Ellis will never forget the day it dawned on him that people would want to bank on their phones. "I was walking in San Francisco, I was on my BlackBerry and I walked in front of a bus," recalls Ellis, who is executive vice president and group head of the Wells Fargo Wholesale Services Group, which includes the Enterprise Payments Strategy, Technology Services, and Treasury Management groups, along with commercial loan services, customer analytics, marketing and communications, risk management, and mobile and social media strategies."

U.S. mobile banking soars 50% in 2011
"Mobile banking in the U.S. has soared 50% since 2011, according to a new global survey. Another survey found that marketing mobile banking can help credit unions and other financial institutions double the average adoption rates. And recent announcements indicate both credit unions and banks are taking advantage of mobile opportunities. Asia has the highest mobile banking penetration, but survey respondents in the U.S. reported the highest frequency of use--an average 4.9 mobile transactions in the previous three months, according to Bain & Company's annual "Customer Loyalty in Retail Banking Report" for 2012."

Mobile Banking: A Bonanza (or Bust) for Banks?
"Mobile is top priority for many banks. It gulps lots of money and management attention, and generates new risks. But the road ahead is blurry. We can visualize it much more clearly by checking the rearview mirror, observing how prior consumer payment innovations have played out – and what they have or haven't contributed to bank market shares and profitability."

Mobile banking will take time to catch on and pay off
"Banks shouldn’t count on a quick bonanza from mobile banking technology, the American Banker reports today. Why? In large part, because old habits die hard. '(C)onsumer transaction volume growth through new payment mechanisms is glacially slow, almost always much slower than projected.'"

Mobile banking innovation stimulates banks’ IT spending
"European banks are racing to catch up with the mobile services available in the US but remain twitchy about over-extending budgets. Despite a stagnating economy and the resource-draining process of adhering to thousands of pages of regulations, UK banks are investing time and money on mobile and internet technologies to improve customer services."

Mobile Banking, Identity Theft & Credit Reporting Agencies
"Twelve million mobile banking customers may sound like a satisfactory number, but Bank of America wants more. As part of a drive to sign up more people for mobile banking, the bank is outfitting its teller stations with quick response (QR) codes that can be scanned by mobile devices to download the mobile app. David Godsman, senior vice president of online and mobile solutions, says the teller station registration is part of a multi-pronged campaign to grow mobile banking. The bank’s current 12 million mobile subscribers are a fraction of its 58 million total consumer and business customers."

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Mobile Banking Updates - Jan 2

Intuit Survey: Mobile Banking Is Pathway to Profits
"Think digital banking is only for Gen Y and younger? Think again, think older. Much older. That is the sharp message contained in a new report from Intuit on the ongoing digital banking revolution. The other key finding: mobile banking is a pathway to profitability. An ongoing temperature reading of digital banking habits, the Intuit report is filed quarterly by the Mountain View, Calif.-based financial software company. It is filed with factoids, such as this: 'people who bank online and via their mobile and tablet devices log in about 30 times a month and are more profitable to a financial institution than those who don’t bank digitally.'"

Mobile Banking and Mitek: Business Finally Starting to "Get" B-to-C Apps
"U.S. Bank will soon up the ante in business customer service with the introduction in early 2013 of a Mobile Photo Bill Pay application for their customers. The fifth largest bank in the country will utilize technology from Mitek Systems to let bank customers set up and make bill payments by snapping a picture of their paper bill using the camera on their smartphone or tablet. Good-bye keypad."

Mobility Matters: Login-Free Mobile Banking?
"The must-add list keeps getting longer, with everything from digital wallets to mobile remote deposit capture emerging as 2013 must adds for credit unions that are determined to stay relevant. But know this: there are even more “out there” ideas that, frankly, may not be quite ready for prime time ... but they definitely deserve a spot on your watch list. Two ideas seem especially ripe to me, and both revolve around a fundamental question: How does a financial institution know who you are?"

Comarch and Alior Bank present a new quality of mobile banking
"Alior Bank has implemented the Comarch solution providing access to new channels of mobile banking for smartphones and tablets users - it is a completely new quality of customer communication with the bank that takes advantage of all capabilities of modern mobile devices. - Comarch Smart Finance is an innovative mobile banking solution, which keeps up with the latest trends in banking 2.0 and multichannel banking."

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International Mobile Banking Updates - Jan 1

Tagit, Smartlink launch mobile banking service in Vietnam
"Singapore-based mobile technology company Tagit in collaboration with Vietnamese payment switch operator Smartlink has introduced aggregated mobile banking service, which will benefit 51 banks in Vietnam and millions of mobile users. The partnership is expected to provide new growth opportunities for the mobile payments ecosystem. More than 40 million domestic bankcard holders and 120 million mobile users will be benefited when Smartlink jointly will implement mobile services with its member banks across the country."

Mobile banking accounts touch 1.8 million mark
"Mobile banking accounts have jumped to 1.8 million mark depicting a remarkable growth of 25 percent during July-September 2012, according to Branchless Banking (BB) Newsletter by the State Bank of Pakistan (SBP) on Wednesday. The BB customers conducted almost 31.5 million transactions worth Rs 139 billion during the quarter. The average size of each transaction was Rs 4,420 while the average number of transaction per day increased to 0.349 million."

Norwegian bank mobile banking app attracts 10% of customers upon launch
"Norwegian bank Sparebanken Vest has revealed one in every ten of its online customers are now using its mobile banking application, following its launch on 4 October, with more than 500 new registrants joining every day. Sparebanken Vest uses Encap’s Software-as-a-Service (SaaS) two-factor security authentication tool for its mobile banking app, which delivers a simple and easy registration and login process, aiding uptake along wide the convenience factor of being able to bank on the move."

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