Mobile Banking Updates - Jan 27

ING Bank Slaski releases corporate mobile banking app
"ING Bank Slaski has launched a mobile banking application for corporate customers - ING BusinessMobile for iOS and Android platforms is based on the Comarch Mobile Banking solution. The system is designed primarily for corporate customers as it offers convenient and quick transaction authorization. In addition to the four-eye principle, it allows to create secure transactions on the basis of pre-defined and templates orders."

First Niagara launches mobile banking app
"First Niagara Financial Group, Inc. (NASDAQ: FNFG) launched a new mobile banking app for iPhones, Android phones, and BlackBerrys. The app allows users to access account information, pay bills, execute internal transfers, and find branch and ATM locations. The banking company plans to add more features throughout 2013, including remote deposit capture, person to person payments, and an iPad app."

Mobile banking users set to almost double
"A new report from Juniper Research finds that over one billion mobile phone users will have made use of their mobile devices for banking purposes by the end of 2017, compared to just over 590 million in 2013. While the forecast of one billion users represents just under 15% of the mobile subscriber base, Juniper notes that around half of all mobile subscribers remain unbanked, with limited access to traditional financial services."

Era of online and mobile banking
"Banks are killing off branches by the thousands. Overall, banks closed 2,267 branches last year and opened only 1,149, according to research firm SNL Financial. That resulted in a total loss of 1,118 branches nationwide -- the highest level since 2005, when the firm began tracking closures. Looking to cut costs, many banks are aggressively shuttering branches they deem unnecessary and encouraging customers to shift to online and mobile banking instead, said Nancy Bush, a bank analyst and contributing editor at SNL."

If You Use Chase Mobile Banking, You’re Probably Richer than All Your Friends Who Don’t
"The world of banking has changed significantly over the past few decades, especially with the introduction of mobile and online banking. With this technology, individuals can take a more active role in their finances. In fact, it appears that banking online has not only made it easier for people to track their transactions, but according to a new study, bank customers are actually saving more money when they jump on the digital bandwagon."

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Mobile Banking Updates - Jan 23

U.S. Bank Launching “Go Mobile” App in Salt Lake and Portland Offering Cardless Purchases Using an iPhone
"New U.S. Bank FlexPerks Visa customers in Salt Lake City, Utah, and Portland, Ore. will be the first U.S. Bank customers invited to try a new mobile payment service called U.S. Bank Go Mobile. The service allows customers to quickly and securely pay for everyday purchases with a wave of their iPhone 4 or iPhone 4S. U.S. Bank is introducing the service in Beta with new FlexPerks® Travel Rewards Visa Signature® account holders before introducing it more broadly in 2013."

Shazam Launches Debit Card App for Smartphones and Tablets
"The electronic funds transfer network based in Johnston, Iowa said Monday it has released "Shazam Bolt$," an app for smartphones and tablets that enables holders of the company's debit card to check their account balances, receive alerts of transactions and transfer funds directly to another person. Shazam is offering the app, which can display a sponsoring institution's name and logo, without charge to each of the roughly 1,500 community banks and credit unions that participate in its network."

YOUR MONEY ON THE GO: MOBILE BANKING THE BIGGEST PERSONAL FINANCE TREND FOR 2013
"Nearly half of consumers, 46 percent, were considering financial resolutions for 2013, according to the fourth annual New Year Financial Resolutions Study from Fidelity Investments. The top three specific resolutions were to save more (52 percent), spend less (19 percent), and pay off debt (19 percent). Luckily, technology and digital tools have made it easier to organize, prioritize, and achieve financial goals, specifically with the growth of mobile banking. Several financial services representatives spoke to Madame Noire about digital tools for personal finance and mobile banking was the most popular topic by far."

Mobile banking customers to reach one billion by 2017
"A recent report revealed that the number of customers who utilize mobile banking technology will reach more than one billion by 2017, compared to 590 million this year. Though the forecast only represents 15 percent of mobile device users, approximately 50 percent of all mobile users are unbanked or have limited access to traditional banking services, Telecoms.com reports."

Where Social Networks, Payments and Banking Intersect
"This article reviews the extent of social network adoption, describes ways in which commerce and banking services are arising, discusses payment methods, and highlights some of the potential risks of these various interactions."

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International Mobile Banking Updates - Jan 22

Mobile Banking to Reach 65% of the Country Off the Banking Map
"Six months from now, people all over Peru will be able to begin paying their bodega bills or buying their neighbor’s cow by mobile phone. President Ollanta Humala enacted a law Wednesday authorizing the introduction of mobile banking, aimed at helping millions of Peruvians who have poor or no access to banks or ATMs to safely pay and be paid without the need of physical cash."

Risk-wary clients refuse to rush into mobile-banking
"Banks are pushing mobile business, but cautious customers seem to be in no hurry to make the switch. Scared of being exposed to cyber criminals, most people have restricted the use of mobile applications to checking account balances."

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Mobile Banking Updates - Jan 20

Latest Feature in Mobile Banking: Smartphone Cameras
"Banking is top of mind for smart device owners who are increasingly using mobile to accomplish the daily to-do list. Among a list of tasks performance marketing company Performics provided US smartphone and tablet users in October, the No. 1 activity people said they expected to be able to do on their mobile device was banking. The expectation of mobile banking functionality was more common across every age category than routine activities such as ordering food, checking public transportation and booking travel."

Alliance Bank Offers Mobile Banking for Personal Banking Customers
"Alliance Bank, a privately owned community bank with over $590 million in assets, announced today the launch of Mobile Banking services for all personal banking customers. Alliance Bank offers a variety of Mobile Banking tools for fast, easy, and secure access to personal banking accounts from anywhere. With Alliance Bank Mobile Banking, customers can accomplish the most common banking tasks such as checking available balances, transferring funds between accounts, and paying bills. To use Mobile Banking, customers must first be registered for Access Online banking."

Green Dot Takes On Mobile Banking With GoBank
"Green Dot, the prepaid payment card provider, has launched itself into the mobile banking market today, unveiling its new GoBank bank account. The firm said it designed the new, mobile banking account "from scratch", specifically aimed at the new mobile generation."

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Mobile Banking Updates - Jan 17

Research and Markets: Mobile Banking for U.S. Corporate Customers: Catching on Slowly
"Mobile banking among consumers is a "done deal" with wide acceptance. However, Mercator Advisory Group's new report, Mobile Banking for U.S. Corporate Customers: Catching On Slowly, finds both banks and commercial enterprises a bit cautious about unleashing mobile banking for corporate transactions. Many corporate treasury personnel already have mobile devices (of myriad different kinds) and desire to mobilize their work lives as they have their personal lives. This research reviews some of the challenges facing corporations in choosing to authorize mobile transactions, as well as the challenges facing banks in attempting to serve these companies."

Mobile Banking Deposits Gain With Big-Bank Adoption
"Mobile banking deposits, where customers deposit a check into their bank accounts by snapping a photo of it with a smartphone or tablet, has hit critical mass with a number of financial institutions starting to offer the service. The trend highlights the explosion in mobile banking over the past two years, and the growing ease with which consumers and businesses now use mobile devices to carry out routine financial tasks like check deposits."

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International Mobile Banking Updates - Jan 16

Filling the Gap: Mobile Banking in the Developing World
"In many parts of India and the Philippines, women hide the little money they save under mattresses or in various places throughout the house. That means it’s difficult if not impossible for them to say no when a relative or friend comes looking to “borrow” money. (Plus, the money is not secure or accruing interest). Because banks are often scarce and difficult to access for many people in Asia, a savings account isn’t an option for most, says Julie Peachey, program manager of the microsavings initiative at Grameen Foundation, a nonprofit based in Washington, D.C. and a partner of Qualcomm’s Wireless Reach initiative."

Ethiopia: Mobile Banking Legal At Last
"Without much deviation from its draft state, the long awaited directive that will allow banks and Micro Financial Institutions (MFI) to provide transaction-based mobile and agent banking services was issued, on January 1, 2013. Now clients of banks and MFI's, offering mobile banking services, will be able to make deposits and withdrawals through their mobile phones. They can also make payments to businesses or transfer money to clients using their mobile phones."

New mobile service M-Shwari brings banking to underserved Kenyans
"A little over two months since launching M-Shwari, Safaricom says the mobile microcredit service has performed better than expected, with billions of shillings deposited and loaned out to help small and emerging businesses. Safaricom launched M-Shwari in November in partnership with the Commercial Bank of Africa to provide savings and loan services to the 15 million users registered for its M-PESA service, which allows Kenyans to transfer money via text messaging."

The Netherlands Showcases Europe’s Enthusiasm for Mobile Banking
"Mobile banking has been among the most popular mobile money activities among users, and the Netherlands is one country where that’s more than evident. According to Telecompaper, citing numbers provided by major banks within the country, Dutch broadcaster NOS reports that mobile banking apps users doubled last year. Rabobank and ING each said they served more than 1 million mobile banking customers, while ABN Amro had about 760,000 and 10 percent of SNS Bank’s customers conducted business through its mobile app."

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Mobile Banking Updates - Jan 15

Beyond Mobile Banking: Building New Consumer Apps
"Should banks and credit unions be building fun and engaging mobile apps that go beyond basic banking functions? Or should they just stick to what they know? And what kind of apps do consumers expect from retail financial institutions?"

EVEN THE BEST MOBILE BANKING STRATEGY CAN BE A VICTIM OF POOR EXECUTION
"My latest research on Building Next Generation Mobile Banking Solutions has been published for a few days now. I’ve already gotten phone calls from clients stating this research is not only timely, but speaks to the very challenges their organization is facing when considering how to build next generation mobile banking solutions. The resounding theme, as my latest research uncovers: Even the best mobile strategy can be a victim of poor execution. Digital banking executives are feeling the pain of their current mobile banking platform."

Capital One's Mobile Banking Video Campaign is Heavy on Heavy Metal
"Banks that have been offering mobile banking for some time are looking for ways to extend adoption. At Capital One (COF), the efforts include the unlikely participation of a U.K. "power metal" band called DragonForce in a new web video-dominated ad campaign."

Green Dot Plans Mobile Banking Product
"Monrovia, California-based Green Dot, the provider of prepaid cards, is getting set to launch a new, mobile bank account product, the firm said Wednesday afternoon. The firm said it will be launching the product on Tuesday, January 15th. The company disclosed the new product launch through an invite for media, analysts and investors to a live conference call. The firm has not yet announced any details of the new product. Green Dot is headed by Steve Streit."

Cachet Provides Mobile RDC for Tyfone’s Mobile Banking Platform
"Cachet Financial Solutions, a leading provider of remote deposit capture solutions, has announced a partnership with Tyfone, a mobile financial and security solutions provider, to provide mobile remote deposit services, including mobile remote deposit capture (mRDC), for their mobile banking platform. Through this integration, Tyfone is offering real time deposit capabilities, allowing funds to be directly deposited into member accounts. Midwest-based CoVantage Credit Union was the first to implement the integrated solution."

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