Pennsylvania sees biggest national loss in bank branches

"The Internet remains the most popular way to bank but mobile banking is the fastest growing, according to a survey of 1,000 U.S. workers by The American Bankers Association. And that is probably one reason why the number of bank branches continues to recede. Pennsylvania experienced the largest net loss of branches between July 1, 2012 and June 30, 2013, according to data from SNL Financial.

The ABA study asked respondents which method they used to manage their bank accounts. Internet banking was by far the most popular at 39 percent in 2012 and 2013. Branches were second at 18 percent—also the same as 2012—followed by ATMs at 11 percent (down from 12 percent last year). Mobile banking was the only banking method that increased in popularity over the past year, moving from 6 percent to 8 percent and, in the process, passing mail and telephone banking." Continue Reading

Read More

Indian central bank sets up mobile banking committee

"The Reserve Bank of India has set up a Technical Committee on Mobile Banking to examine the feasibility of introducing encrypted SMS-based funds transfers across all mobile handsets. The Committee will conduct an in-depth study of the challenges faced by banks in taking mobile banking forward and the hurdles to introducing an Unstructured Supplementary Service Data (USSD) channel for person-to-person payments." Continue Reading

Read More

Statistics Reveal That Technology is Transforming Mobile Banking, Firstnumber Comments

"Mobile phone technology is quickly changing the manner in which we pay our bills, monitor our accounts and communicate with our bank. What's more, most high street banks are currently investing a great deal of money in development of new technologies to make banking on the move even more rapid and convenient. According to recent figures published by the Office for National Statistics, around 50% of all UK adults and over 75% of 25–34 year olds manage their funds over the Internet. About one in five adults admits to having made at least one payment via their phone; while a quarter of us use our phones to check bank balances." Continue Reading

Read More

Snap-To-Pay From Fiserv Makes Mobile Bill Payment A Snap

"Fiserv, Inc., a leading global provider of financial services technology solutions, announced recently the launch of its Snap-to-Pay capability for select Fiserv mobile banking and payments solutions, which enables consumers to pay bills quickly and easily with a snap of their smartphone cameras. Essential bill information, such as the company to be paid and the amount due, is captured by taking a picture of a paper bill, and then used to automatically populate the appropriate fields on the smartphone screen. Snap-to-Pay leverages mobile imaging technology from Top Image Systems (TIS), which enables mobile devices such as smartphones and tablets to accurately capture information from documents of all types and sizes." Continue Reading

Read More

Study: Mobile close to equaling ATM as preferred banking channel

"The popularity of mobile banking continues to grow, according to a recent study by the American Bankers Association. A survey of 1,000 U.S. adults revealed that while the Internet remains the most popular banking method, mobile banking has eclipsed the popularity of "snail mail" and landline, and is now preferred by 8 percent of customers, while ATMs are still the preference of 11 percent of customers." Continue Reading

Read More

Small S.C. Bank Hires Mobile-Banking Execs from Verizon

"Independence Bancshares (IEBS) in Greenville, S.C., has hired two former Verizon executives to broaden its mobile-banking services. Aditya Khurjekar and Humphrey Chen have joined the $115 million-asset company's executive team to lead its mobile-technology efforts, the company announced Tuesday.

Khurjekar will focus on software and mobile technology, and Chen will focus on business development and emerging technologies. Before joining Independence, Khurjekar was responsible for leading several of Verizon's mobile-payments projects, including ISIS, a joint venture between Verizon, AT&T and T-Mobile. Earlier, he held positions with CGS Systems, Lucent Technologies and Bell Laboratories." Continue Reading

Read More

Mobile Payments Today releases State of the Industry report

"The mobile payments industry has continued its long, slow march toward ubiquity in the past 12 months, according the 2014 Mobile Payments State of the Industry Report. The third annual report from Mobile Payments Today includes consumer and industry surveys, and for the first time, tracks in-store mobile payments.

The report finds that more people have smartphones — 95 percent this year compared to 66 percent a year ago — and they're routinely using their mobile devices to access the Internet: 93 percent of respondents reported doing so, up from 65 percent in 2012." Continue Reading

Read More