Mobile Banking

Japanese mobile payments hold promise reports Celent

noreply@blogger.com (brandon@bmcgee.com) — Fri, 17 Jan 2014 03:46:00 +0000

"Japanese consumers typically make payments in shops using cash and coupons or rewards; it is also sometimes possible to pay by charging the customer’s mobile phone bill. The Celent report, Retail Payments in Japan – a Land of Contrasts and Opportunity, suggests that the gradual shift of e-commerce in the country towards mobile channels is shifting banks to cooperate with popular reward schemes, which can increasingly be used online and via mobile." Continue Reading

UK mobile banking increases while cheque usage fades

noreply@blogger.com (brandon@bmcgee.com) — Wed, 15 Jan 2014 03:44:00 +0000

"The last 12 months saw a significant increase in the use of mobile banking in the UK, while the use of cheques saw a decline. Barclays Bank revealed that registrations for its mobile application rose 200 per cent when compared with figures from 2012, as more customers embrace the use of digital banking services." Continue Reading

5 Mobile Banking Trends to Watch in 2014

noreply@blogger.com (brandon@bmcgee.com) — Wed, 15 Jan 2014 03:43:00 +0000

"Just five years ago, mobile banking seemed futuristic, the stuff of sci-fi; but today, it has emerged as a must have, and also potentially, as a way for small credit unions to compete with big banks. A regional credit union can’t have hundreds of branches, but for smartphone carrying members, there is a branch in every pocket. That is the game-changing magic of the technology." Continue Reading

More mobile please – but make it relevant

noreply@blogger.com (brandon@bmcgee.com) — Wed, 15 Jan 2014 03:40:00 +0000

"The likes and dislikes of mobile banking customers around the world suggest that there is an opportunity to expand mobile services globally – but providers need to be careful they are targeting the right information to the right people, according to a new survey by analytics firm FICO." Continue Reading

Mobile malware threats to continue to increase in 2014: Trend Micro

noreply@blogger.com (brandon@bmcgee.com) — Mon, 13 Jan 2014 03:38:00 +0000

"According to experts, cyber security will remain a growing concern in 2014 with mobile malware on the rise. A recent report by Trend Micro foresees potential threats in 2014 and possible solutions to combat them.

Trend Micro states that mobile banking will be the target of malware and the basic two step verification process will no longer be enough. The firm warns organizations to expect major data breaches once a month in 2014." Continue Reading

Mobile Phones Set To Reduce Banking Branches In 2014

noreply@blogger.com (brandon@bmcgee.com) — Mon, 13 Jan 2014 03:35:00 +0000

"This is the year that mobile banking will really make a dent in branch networks, according to James DeBello, CEO and president of Mitek, a company that is helping make that happen. It introduced remote deposit capture — take a picture of a check with your smartphone and send the image to your bank.

Now it is introducing mobile account sign-up, so you can open an account from your phone or tablet without ever setting foot in branch. Just shoot images of the front and back of your drivers license." Continue Reading

It’s the year for digital financial products

noreply@blogger.com (brandon@bmcgee.com) — Mon, 13 Jan 2014 03:33:00 +0000

"With the rapid growth in ownership of mobile and tablet devices, consumers today want to be able to access financial services and transact with retailers in their own convenience. Last year saw some interesting new products introduced in Dubai, including mobile banking applications." Continue Reading

Seventy percent of all known mobile malware variants found in 2013: Kaspersky

noreply@blogger.com (brandon@bmcgee.com) — Fri, 10 Jan 2014 04:41:00 +0000

"Over 100,000 new individual malware routines for mobile devices were detected in 2013 by the cloud-based Kaspersky Security Network (KSN) alone, according to recently released statistics from the security vendor that highlight the magnitude of the current online threat and its future potential growth.

An annual analysis of KSN's activities found that the network intercepted 5.19 billion cyber-attacks on computers and mobile devices during 2013, with 1.7 billion attacks launched from online resources around the world – 45 percent of which came from the United States and Russia." Continue Reading

Card.com: A Startup Making Finance More Fun (And Fair)

noreply@blogger.com (brandon@bmcgee.com) — Fri, 10 Jan 2014 04:40:00 +0000

"Since recovery from recession has been slow and as financial health has become more top-of-mind for most Americans, trying to make less money pay for more — financial technology has helped some to move forward.

Mobile banking options have become appealing to a large swath of Americans, who want to access funds instantly, without having to wait, or who simply want to avoid late fees, hidden fees, and overdraft charges." Continue Reading

Bank of China launches mobile payment app

noreply@blogger.com (brandon@bmcgee.com) — Fri, 10 Jan 2014 04:37:00 +0000

"Bank of China has launched the BOC mobile payment app for its credit card customers. The app is downloadable for free from the Apple app store, the Android store, Bank of China's website www.boc.cn and its mobile website wap.boc.cn." Continue Reading

2014 Forecast: Tech Trends in Commercial Banking

noreply@blogger.com (brandon@bmcgee.com) — Fri, 10 Jan 2014 04:36:00 +0000

"Banks have been increasing their digital banking capabilities for commercial and treasury customers, but now they need to step up efforts to educate those customers on their new capabilities, says Mark Ranta, senior product marketing manager at ACI Worldwide." Continue Reading

Predictions: Android Ransomware, Mobile Banking Fraud

noreply@blogger.com (brandon@bmcgee.com) — Thu, 09 Jan 2014 04:33:00 +0000

"With mobile firmly entrenched in both the personal and work arena, cyber-criminals are stepping up attacks against smartphones and tablets. Practically every security expert Security Watch talked to had something to say about the increasing volume of attacks against mobile devices.

Android won't be the only one under attack, but iOS, Windows Phone, and BlackBerry, too. Trend Micro estimated that malicious Android apps will reach 3 million in 2014." Continue Reading

Will Target Credit Card Disaster be the Tipping Point for Mobile Banking?

noreply@blogger.com (brandon@bmcgee.com) — Thu, 09 Jan 2014 04:31:00 +0000

"Target has managed to become the poster child for security ire, having lost around 40 million credit and debit cards. It's the latest documented breech of credit card security. Financial institutions have to be thinking how to migrate away from the increasingly exploited system of numbers, plastic and mag stripes, especially as lawsuits start arriving." Continue Reading

Nigeria: Promoting Financial Inclusion Via E-Payment, Mobile Banking

noreply@blogger.com (brandon@bmcgee.com) — Thu, 09 Jan 2014 04:28:00 +0000

"Of recent, discussions on promoting financial inclusion are making waves in the financial sector, primarily because of the importance of bringing in millions of unbanked Nigerians into the formal banking system." Continue Reading

Hi-tech future for cheque payments

noreply@blogger.com (brandon@bmcgee.com) — Thu, 09 Jan 2014 04:26:00 +0000

"People will be able to pay in a cheque by sending a smartphone image of it to their bank under Government proposals to bolster the long-term future of the payment method." Continue Reading

USAA to Geico Test Voice Apps Seeking $12 Billion Savings: Tech

noreply@blogger.com (brandon@bmcgee.com) — Wed, 08 Jan 2014 04:23:00 +0000

"USAA, Geico Corp. and other financial firms are turning smartphones into virtual clerks. USAA in February became the first to let depositors use its mobile application via spoken commands. Now, Wells Fargo Co., U.S. Bancorp and ING Groep NV also are among about 50 firms working with Nuance Communications Inc. (NUAN:US) to use similar technology in mobile apps." Continue Reading

AT&T Releases New Mobile Identity API Toolkit

noreply@blogger.com (brandon@bmcgee.com) — Wed, 08 Jan 2014 04:21:00 +0000

"ATT announced the availability of a new application programming interface (API) toolkit that can help businesses make mobile transactions safer and easier for ATT mobile subscribers. According to a release, the toolkit allows businesses to automate fraud avoidance queries and the completion of basic forms for subscribers during transactions." Continue Reading

Mobile Is Becoming A Critical Battleground For Banks, And That's Great News For Consumers

noreply@blogger.com (brandon@bmcgee.com) — Wed, 08 Jan 2014 04:18:00 +0000

"Mobile is the most important new battleground for banking consumers, and banks are rolling out the latest and greatest smartphone apps and mobile site features to gain an edge on the competition. The banks that establish a reputation for mobile innovation will benefit from greater market share and more engaged — and high-margin — customers." Continue Reading

SBI, Axis, ICICI and UCO Bank are the only ones charging for IMPS transactions

noreply@blogger.com (brandon@bmcgee.com) — Wed, 08 Jan 2014 04:16:00 +0000

"Would you like to save on mobile banking transaction charges? Then, you need to know that only four banks out of 59 banks charge customers for using the interbank mobile payment system and even NPCI charges just 25 paise per IMPS transaction from the remitter bank." Continue Reading

AT&T's Bid to Intertwine Its Services with Mobile Banking Apps

noreply@blogger.com (brandon@bmcgee.com) — Tue, 07 Jan 2014 04:13:00 +0000

"ATT would like to partner with banks on their mobile banking apps, providing a range of hosted services from call recording to videoconferencing to geolocation services to mobile identity verification. The telecom launched its first product in this vein, a mobile identity toolkit, in late December. In a way, it is following the footsteps of Verizon, which debuted a mobile identity offering in October." Continue Reading

Silver surfers keen to embrace mobile banking

noreply@blogger.com (brandon@bmcgee.com) — Tue, 07 Jan 2014 04:10:00 +0000

"A new survey has revealed that older people are more likely to embrace mobile banking services that are now provided by a host of high street banks. Deloitte reviewed more than 10,000 UK bank branches and found that elderly and retired people, known as silver surfers, are increasingly embracing digital services." Continue Reading

Growth of mobile banking lower-than-expected in India

noreply@blogger.com (brandon@bmcgee.com) — Tue, 07 Jan 2014 04:09:00 +0000

"The Reserve Bank has expressed its disappointment over the lower-than-expected spread of mobile banking in the country saying the awareness levels of this tool has been wanting." Continue Reading

Pacific banks go branchless to reach the unbanked

noreply@blogger.com (brandon@bmcgee.com) — Tue, 07 Jan 2014 04:06:00 +0000

"It might be the woman market stall holder in a city like Port Moresby, who needs security for her daily takings, or the rural Solomon Islands school teacher who must spend up to half his wage in boat fuel travelling to a bank to collect his pay. Both could use a mobile wallet to solve their problems." Continue Reading

Branch’s death highly exaggerated

noreply@blogger.com (brandon@bmcgee.com) — Mon, 06 Jan 2014 03:43:00 +0000

"Paraphrasing Mark Twain, the demise of brick-and-mortar branches has been over-reported. While it’s true that the number of bank branches is declining, branches still remain an important, albeit expensive, delivery channel." Continue Reading

Moving From Mobile Apps to a Mobile Platform

noreply@blogger.com (brandon@bmcgee.com) — Mon, 06 Jan 2014 03:41:00 +0000

"Within the next 12 to 18 months, mobile banking will pass a historic milestone and overtake Internet banking in terms of overall usage. Innovation is now being focused on mobile first, with Internet banking being the laggard. In 2014, the next important change in mobile apps will be addressed by both community and money-center banks; How to extend capabilities to businesses and employees." Continue Reading