Mobile Banking

Verizon Attacks iPhone - OUCH

noreply@blogger.com (brandon@bmcgee.com) — Mon, 09 Nov 2009 01:33:00 +0000

Mobile Banking Updates - Nov 7

noreply@blogger.com (brandon@bmcgee.com) — Mon, 09 Nov 2009 00:51:00 +0000

A view on the trigger behaviour for mobile payments
"Dave postulate that widespread adoption of payment systems are triggered by change in behaviour of the population. He says (for instance) that the big move to card-based payments from check-payments was triggered by people that started travelling more frequently. Check-payments from foreigners were frowned on, but quickly got replaced by a plastic card."

Android Army Pumped for All-Out Attack on iPhone
"Soon, you’ll need more than two hands to count the number of Android phones on the market. At this rate, it seems inevitable that the number of phones running Google’s open source operating system will eventually outnumber the number of iPhones, which run Apple’s proprietary (and closed) operating system. It’s a situation that has many observers thinking back to the 1980s, when IBM introduced its PC and eclipsed Apple in market share by betting on open platforms. In the end, Apple was left with a respectable business, but a single-digit morsel of the PC market share."

Touchscreen Mobile Phone Adoption Grows at Blistering Pace in U.S. During Past Year
"comScore, Inc. (NASDAQ: SCOR), a leader in measuring the digital world, today released a study of touchscreen mobile phone adoption in the U.S., which showed a significant 159-percent growth rate during the past year to 23.8 million users in August 2009. The growth in touchscreen device adoption substantially outpaced the already strong 63-percent growth in U.S. adoption of smartphones."

How Banks Are Looking to Become Serious Players in P2P Payments
"Electronic person-to-person payments have been around this entire decade, but they’re still largely the domain of specialists such as PayPal Inc. and a host of tech companies. But leading bank processors are getting into the P2P act, and if they’re successful they could spur greater usage from the consumer mainstream and confirm banks’ Web sites as go-to places for new payment services. Leading bank processor Fiserv Inc. this week unveiled its personal-payments service that will become available to the 3,100-plus financial institutions in Fiserv’s online bill-payment network in the first half of 2010. The service leverages the updated CheckFree RXP bill-pay platform that Fiserv acquired two years ago when the company bought bill-pay leader CheckFree Corp."

BAI Mobile Banking Announcements - Nov5

noreply@blogger.com (brandon@bmcgee.com) — Thu, 05 Nov 2009 16:29:00 +0000

Vasco Uses IPhone, IPod Touch for Authenticating Users
"Vasco Data Security said Thursday it is bringing its Digipass product, which is used for two-factor authentication, to the iPhone and iPod Touch.

The company has developed a version of the application for the Apple devices that can be downloaded for free from the App Store. Vasco's server products are also needed for the system to work.

Digipass for Mobile can be used to authenticate users and sign transactions or documents in areas such as mobile banking, e-banking, e-commerce and enterprise security, according to Vasco. There is also an API (application programming interface) for integrating the system with a company's own applications."

Nation's Largest Credit Union Service Organization Adds New iPhone/iPod Touch Applications to Mobile Banking Platform
"Easy on-demand access to financial information is the driver behind the explosive growth of mobile banking. PSCU Financial Services, the nation's largest credit union service organization, has made its mobile banking platform even more cutting edge with the launch of new iPhone(TM) and iPod® touch applications, which are now
available.

This latest capability will help credit unions attract Gen Y and other member segments who are avid iPhone/iPod users. It also builds brand recognition through credit union logo visibility on the member's mobile device and customized iPhone application in the iTunes store."

Despite a Fast Start in Mobile Banking, BofA’s Job Isn’t Done

noreply@blogger.com (brandon@bmcgee.com) — Thu, 05 Nov 2009 12:34:00 +0000

"Bank of America Corp. gave some insights into its fast-growing mobile-banking service, but the bank also acknowledged that it must convince skeptical customers that the service is valuable and secure.

Charlotte, N.C.-based BofA started a controlled rollout of mobile banking in early 2007 and launched the service nationwide in the second quarter of that year. The service had 1 million users a year later. By 2009’s third quarter, BofA had 3.5 million active users, Doug Brown, senior vice president of E-Commerce Channels, ATM and Customer Service, told an audience Wednesday at the Bank Administration Institute’s Retail Delivery conference in Boston. BofA claims to have a 35% share of the mobile-banking market, more than any other bank.

The bank promotes mobile banking through a variety of channels, including online and in branches. Some 85% of BofA’s mobile-banking customers use a smart phone such as Apple Inc.’s iPhone or the BlackBerry from Research in Motion Ltd. Hot-selling smart phones have larger screens and more capabilities than regular cell phones to handle complex services such as mobile banking. More than 80% of BofA’s mobile-banking users are between the ages of 18 and 44." >> Continue Reading

BAI Mobile Banking Announcements - Nov 4

noreply@blogger.com (brandon@bmcgee.com) — Wed, 04 Nov 2009 12:36:00 +0000

ClairMail Signs Development and Deployment Agreement to Integrate Visa Mobile Services Into Its Mobile Banking Platform
"ClairMail, Inc., a leader in mobile banking and payment solutions, today announced that it has signed a development and deployment agreement with Visa Inc. (NYSE: V), the world's largest retail electronic payments network, that allows ClairMail to integrate Visa mobile services into the mobile banking and payments infrastructure that ClairMail provides to leading financial institutions.

ClairMail bank customers who are also Visa clients can take immediate advantage of Visa's mobile services by adding them to an existing mobile banking deployment and creating a more comprehensive mobile banking offering. Visa mobile services include applications that support mobile payments, tailored merchant offers, and near-real time transaction alerts and notifications."

Mobile Money Ventures to Help Digital Insight Deliver Next Generation Mobile Solutions
"Mobile Money Ventures (MMV), a leading global solutions provider of the next
generation of mobile financial services, announced today it is teaming up with
Digital Insight, the financial institutions division of Intuit Inc., to make
next generation mobile solutions more broadly available to financial
institutions. The agreement was announced today at the BAI Retail Delivery
conference in Boston.

'In today`s strained economy, Americans are looking to their bank or credit
union for help managing their finances,' said Albert Ko, senior vice president
of online financial management at Digital Insight. 'Working with MMV expands our
mobile capabilities to help financial institutions put more information in the
hands of end users, no matter where they are.'"

FIS Integrates PayPal for Global Person-to-Person Payments
"FIS has announced that it is integrating PayPal's person-to-person (P2P) payment system into the FIS online bill payment application for financial institutions. FIS says that 'by integrating paperless P2P functionality into its online bill payment application, FIS empowers banks and credit unions to simultaneously solve for a real consumer need and drive increased transaction activity at the online channel.

'Adding electronic person-to-person payments to our bill pay solution is the intersection of financial institutions` cost cutting objectives and consumers` desire to centralize their paperless transactions with their trusted bank or credit union,' said Frank D`Angelo, executive vice president, FIS Payment Solutions Group."

Fiserv Plans New Person-to-Person Payment Service
"Fiserv has announced plans for a new personal payments service that it says 'will enable individuals to quickly and easily send or receive money person-to-person using their existing online banking relationship. The service will be made available to the more than 3,100 financial institutions in the Fiserv online payment network, linking users with their friends, family, neighbors and colleagues.'

'Consumers are showing an increasing preference for managing their finances online, and it is natural for them to turn to their trusted financial institution for any payment service, whether it is a bill payment or a personal payment,' said Erich Litch, senior vice president and general manager, Consumer Services, Fiserv. 'The personal payments service from Fiserv enables banks and credit unions to deliver an innovative online financial management tool, providing users with the convenient capability to pay anyone and deepening their relationship with the institution.'"

CU*Answers and Firethorn to Deliver Mobile Banking Services
"Firethorn Holdings, LLC, a Qualcomm company (Nasdaq: QCOM), and CU*Answers today announced that the credit union service organization has selected Firethorn's Mobile Banking application and SMS service for its more than 165 credit unions. CU*Answers represents more than 1.5 million members with more than $10 billion in credit union assets."

BAI Mobile Banking Announcements - Nov 3

noreply@blogger.com (brandon@bmcgee.com) — Tue, 03 Nov 2009 16:26:00 +0000

S1 Teams With PayPal to Deliver Fast, Convenient Mobile Personal Payments Solution for Banks
"S1 Corporation (Nasdaq: SONE), a leading global provider of financial services and payments software solutions, today announced an agreement with PayPal to deliver a new personal payments service that allows consumers and businesses to make easy, fast and secure payments from their bank accounts to PayPal users around the world using their mobile phones. Mercantile Bank of Michigan, a customer of S1, is the first financial institution to sign up for the new offering and expects to go live with the mobile personal payments service early next year."

CashEdge and Firethorn to Launch Integrated Mobile Person-to-Person Payments Solution for Financial Institutions
"CashEdge, Inc. (www.cashedge.com), the leading provider of Intelligent Money Movement(TM) services, and mobile commerce enabler Firethorn Holdings, LLC, a Qualcomm company (Nasdaq: QCOM), announced today that the companies have entered into a strategic relationship to bring to market an integrated mobile person-to-person (P2P) payments solution integrating CashEdge's POPmoney P2P payments service and Firethorn's Mobile Wallet solution."

Two Top Credit Unions Select POPmoney(TM)
"CashEdge, Inc.(www.cashedge.com), the leading provider of Intelligent Money Movement(TM)services, announced today that two leading credit unions, BECU and Patelco,are among the numerous leading financial institutions that will add POPmoney(TM) (www.popmoney.com) to their customer offerings by the end of 2009."

The Family Credit Union Now Offering Mobile Money from Fiserv
"BAI RDC Booth #417 -- Fiserv, Inc. (NASDAQ:FISV), the leading global provider of financial services technology solutions, today announced that The Family Credit Union, an $89.9 million credit union with branches in Iowa and Illinois, is now providing members access to mobile financial services with Mobile MoneySM."

Park State Bank & Trust Launches Bling Nation’s Mobile Payments Network
"The Community Payments Service is a secure local debit network, driven by the tap of a cell phone, that enables banks and merchants to avoid costly traditional payments network. As a result, shopping locally is promoted and money is kept within the Woodland Park community. In addition, consumers enjoy the convenience and safety of tapping their cell phones to pay for goods and services without exposing sensitive, personal information. With each purchase, a SMS text message is sent to the consumer with account balance and any rewards program updates."

ClairMail Introduces First-to-Market Mobile Banking Adoption Services Offering
"ClairMail, Inc., the leader in mobile banking and payment solutions, today introduced the finance industry's first end-to-end mobile banking adoption services offering. The complete services include best practices across all phases of the mobile banking adoption lifecycle -- Planning, Implementation, Marketing and Analysis -- enabling financial institutions to optimize mobile adoption and usage, better engage with their customers and drive toward the ultimate goal of realizing 100% mobile banking adoption and high return on investment."

Sybase 365 unveils mobile banking application for iPhone
"Sybase subsidiary, Sybase 365 which specializes in mobile messaging and mobile commerce applications has come up with a new release of mobile banking solution for iPhone users. The new application will be offered to financial institutions across the globe over the Sybase mBanking 365 platform. Sybase says the application offers a turn-key solution to the financial institutions enabling them a quick and easy rollout of mobile banking services."

Networks and Devices Seen Fueling Sharp Growth in Mobile Banking

noreply@blogger.com (brandon@bmcgee.com) — Tue, 03 Nov 2009 12:55:00 +0000

"Mobile banking is gaining traction and the maturity of the infrastructure supporting it might present a new opportunity for credit unions to reach out and touch the millions of consumers who don’t bank online at all.

A new survey of more than 500 mobile phone users found that 60% not currently banking online would be interested in using at least one mobile banking service if it was offered during a typical month.

The same survey also showed that those estimated 55 million non-online banking households in the United States are heavy users of traditional banking channels–with nearly two-thirds of them contacting their financial institution once a week or more through contact centers, interactive voice response (IVR) systems and other more costly channels." >> Continue Reading

Bank of America’s New Ad Campaign Promotes Banking Transparency

noreply@blogger.com (brandon@bmcgee.com) — Tue, 03 Nov 2009 12:43:00 +0000

"Bank of America is trying to do away with this closed image of banking with its new, $40 million ad campaign that attempts to portray the Bank as more open and transparent. Pointing to some of the banks very advanced products, Bank of America relates to the consumer in simple terms how these products can be used to keep you up to date on your accounts and help save you money. For example, one ad demonstrates how your mobile banking account can provide you with text alerts if you have a low balance, while another shows how you can save while you spend with Bank of America’s “Keep the Change” program. The ads aim to rebuild a sense of trust between banks and consumers." >> Continue Reading

Mobile Banking Updates - Nov 1

noreply@blogger.com (brandon@bmcgee.com) — Sun, 01 Nov 2009 22:17:00 +0000

It has been an extremely slow week in the world of mobile banking, but with BAI kicking off on Tuesday I expect a slew of announcements over the next 48 hours. Check back often it should be fun week!

Android 2.0: The iPhone killer at last?
"In its three years, the iPhone has redefined the mobile device. But despite the iPhone's popularity, it is by no means certain to become the mobile equivalent of Windows, the dominant platform that defines our experience of a particular technology, as well as the business choices that surround it. Google's Android 2.0 OS is the latest in a series of mobile offerings seeking to derail the iPhone's momentum. Backed by heavyweights Google, Motorola, Verizon Wireless, Acer, and other big-name manufacturers, Android could potentially knock the iPhone down a peg. After all, while users love the iPhone, Apple's controlling tendencies have frustrated developers, and its disrespect for business concerns have frustrated IT."

Bling Nation gets another $20M funding for its pay-by-cellphone system
"Bling Nation, a Palo Alto-based company, has created a mobile payment service called Redi Pay that lets phone users pay for things in stores with their phones. I wrote about Bling Nation in July, when the company landed $8M in funding $from Lightspeed Venture Partners, Meck and Camp Ventures."

Vendors Offer New School 'Wrappers'

noreply@blogger.com (brandon@bmcgee.com) — Fri, 30 Oct 2009 11:30:00 +0000

"Mobile banking use should double this year alone, and in order to graduate from basic balance queries and alerts to robust payments, vendors are flooding the market with products that suggest an intermediate step of usability and attractive screen appearance as the groundwork for future development.

'All of the mobile vendors offer things like balance, locations of branches or ATMs, or a means to view statements. This type of functionality is pretty well understood,' says Stessa Cohen, a research analyst for Gartner. 'What we're going to have to start to see is ways of differentiation of offerings, a way to allow banks to deliver new apps.'" >> Continue Reading

Mobile Money Ventures Collaborates with Citibank China

noreply@blogger.com (brandon@bmcgee.com) — Thu, 29 Oct 2009 14:49:00 +0000

"Mobile Money Ventures, LLC (MMV), a leading global solutions provider of the next generation of mobile financial services, today announced it is continuing its string of successful deployments in the Asia Pacific region with the launch of a mobile banking solution in China with Citibank. Citi Mobile - the first offering of its kind in the country from a foreign financial institution - allows customers to access and manage their bank accounts using their phone's mobile browser.

'Citi Mobile is an extension of our commitment to bring our customers innovative services that truly enhance the banking experience,' said Anand Selva, Executive Vice President, Citibank (China) Co., Ltd. 'We're excited to work with MMV to give our customers the ability to securely manage their finances, regardless of time or location.'" >> Continue Reading

BBT Receives High Marks

noreply@blogger.com (brandon@bmcgee.com) — Thu, 29 Oct 2009 14:45:00 +0000

"ClairMail, Inc., the leader in proactive mobile banking and payment solutions, today announced that customer BB&T Corporation (NYSE: BBT) received high marks for its mobile banking offering in recent reports by leading industry analyst firms ABI Research and Javelin Strategy and Research. BB&T, which is among the nation's top 10 largest banks, was awarded the top "A" grade in the Mobile Banking: U.S. Banks Report Card from ABI Research, issued in September 2009, and was also named a Silver category winner in Javelin Strategy and Research's 2009 Mobile Banking Scorecard published October 2009." >> Continue Reading

Mobile Banking's Next Big Market: The United States? by Navi Radjou

noreply@blogger.com (brandon@bmcgee.com) — Wed, 28 Oct 2009 15:55:00 +0000

"In my recent trip to Silicon Valley, I had the privilege to meet with Carol Realini, CEO of Obopay, a mobile payment startup that is fueling a social revolution worldwide by enabling scores of unbanked people to avail of financial services for the first time in their life.

Obopay's technology allows consumers and small businesses to buy, pay, and transfer money through any mobile phone via a simple text message (or by using the Mobile web browser or Obopay's downloadable mobile app). People who send money via Obopay can fund their account either with cash or by linking it to their credit card or current account. Receivers can get the money either through an Obopay account or have it transferred directly to their bank account." >> Continue Reading

Mobile Banking Updates - Oct 26

noreply@blogger.com (brandon@bmcgee.com) — Mon, 26 Oct 2009 21:25:00 +0000

Mobile Commerce: “Life Without a Wallet”
"We’ve all heard about the “cashless society”. But is it fact or fiction? Will mobile technologies play a role in accelerating the demise of our wallets and transform the way we will all transact our financial affairs? If so, when? What is the overall business case that drives the value for mobile commerce – and how can we accelerate its realization? Hear what the experts have to say about this revolutionary topic that is sure to affect all 6.5 billion mobile users worldwide, more than half of which reside in developing countries…"

Smartphone security threats likely to rise
"Worms, spam, viruses and hackers -- they're not just for your desktop or laptop anymore. According to internet security experts they could be well on their way into your pocket or purse. The popularity of smartphones -- like the Blackberry, iPhone, Palm and the emerging Droid -- is on the rise and shows no signs of letting up."

Petra Financial launches new Touchstone Mobile capabilities at MMT in Dubai
"Petra Financial is pleased to announce at MMT Dubai new Touchstone Mobile features being released such as enhanced security, support for wider BlackBerry operating system versions, and a forthcoming native Java version. Petra Financial a global software company is at the forefront of payments management, mobile banking, and mobile financial services; and counts customers such as HSBC, CaxtonFX, National Australia Group, and Deutsche Bank."

M-Com Delivers Best-In-Class Authentication Measures For Mobile Banking And Payments
"International mobile banking solution provider M-Com, announced today that it has been positioned as ‘best in class’ for its effective use of multi-channel authentication and security measures in its flagship mobile banking and payments product, BankAnywhere. This assessment was carried out in research firm Javelin Strategy & Research’s Multi-Channel Authentication via Mobile Banking report, published in September 2009."

Monitise Americas Now Provides Mobile Money Services to over 150 Financial Institutions
"Monitise Americas, the Mobile Money specialist, today announced over 50 financial institutions have now signed up for its full service solution, which consists of real-time balance inquiries, mini-statements, account transfers, bill payments, same-day payments and more, delivered by a downloadable application, iPhone app or a secure browser. A further 100 financial institutions have signed up for its text services, which include weekly balance texts and account updates delivered via SMS."

Mobile Banking Updates - Oct 23

noreply@blogger.com (brandon@bmcgee.com) — Fri, 23 Oct 2009 12:51:00 +0000

INSIDE CONTACTLESS LAUNCHES INITIATIVE TO JUMPSTART MOBILE PAYMENT MARKET
"INSIDE Contactless, the world leader in advanced open-standard contactless chip technologies, today announced an initiative to create a new class of mobile payment solutions that banks, brands, transit agencies and others can deploy quickly, easily and in a highly targeted way starting in 2010. INSIDE has already engaged with several innovative technology companies that share its vision to develop a variety of mobile payment solutions based on INSIDE’s proven, certified MicroPass® platform that will enable existing mobile phones to support mobile payments, as well as transit, ID and access control applications. A number of these solutions expected to reach the market as early as this fall."

Chevron Valley CU Taps Corporate Network eCom as Its Provider
"A downloadable application residing on members' phones, MobileMember provides real-time, around-the-clock access to account information. In addition to the ability to view account balances and transfer funds, Chevron Valley members will have a full range of bill payment capabilities at their disposal, including scheduling regular or expedited payments, managing scheduled payments and viewing payment history -- all from their mobile devices."

Mobile-Banking Lagging Due To Ineffective Marketing by Banks
"Banks' marketing efforts are not keeping pace with their actual mobile-banking services, and the imbalance is causing limited adoption of mobile-banking by consumers, reports a study by Javelin Strategy & Research. The study found that 50 percent of financial institutions do not adequately address consumers' two primary mobile banking concerns. The report also rates the mobile-banking offerings of 18 top financial institutions based on features, access to mobile-banking services and marketing. Gold-category winners identified by Javelin include Bank of America, Chase, Citi, USAA and Wells Fargo."

Bank of America Highlighted in Sprint Android Apps

noreply@blogger.com (brandon@bmcgee.com) — Thu, 22 Oct 2009 01:43:00 +0000

Bank of America mobile banking is one of the featured apps in Sprint's new Android promotional site.
http://now.sprint.com/android/

M-Com To Participate In Mobile Financial Services Congress 2009

noreply@blogger.com (brandon@bmcgee.com) — Wed, 21 Oct 2009 11:32:00 +0000

"Mobile Financial Services Congress 2009 will bring together the industry leaders, such as M-Com and Fiserv, and early adopting financial institutions to share their experiences of developing mobile financial services platforms. Occurring at a critical time for the industry, as many institutions are poised to enter the market, and the industry as a whole prepares for a concerted push to further drive adoption in 2010 and beyond.

Scheduled in Miami on the 1st, 2nd and 3rd of December 2009, the Mobile Financial Services Congress will offer essential insights on successful strategies for launching and developing a full service mobile offering." >> Continue Reading

Find out more or register at http://www.arena-international.com/mobilefinance/

Extending the Reach, Impact and ROI of Mobile Banking

noreply@blogger.com (brandon@bmcgee.com) — Mon, 19 Oct 2009 12:42:00 +0000

Information Week is hosting a webcast titled "Extending the Reach, Impact and ROI of Mobile Banking and Transaction Services" on Thursday October 22nd.

Featured Speakers:

Kirk Laughlin, Moderator/Contributing Editor, InformationWeek

Douglas Brown, Senior Vice President, Mobile Product Development, Bank of America Corporation

Charles Landry, Vice President & General Manager -- Products & Innovation, Verisign's Messaging and Mobile Media Division

Calvin Grimes, Product Manager, Electronic Banking Services, Fiserv

Click here to register for the event.

Mobile Banking Updates - Oct 18

noreply@blogger.com (brandon@bmcgee.com) — Mon, 19 Oct 2009 00:33:00 +0000

MShift and San Antonio Credit Union offer Mobile Deposit
"Randolph-Brooks Federal Credit Union is gearing up to offer its members mobile depositing capabilities via any wireless smart phone and service provider. Dubbed mBranch, the service is slated to be rolled out in early 2010."

M-Com Positioned as a Leader in Magic Quadrant for Mobile Banking
"International mobile banking solution provider, M-Com, announced today that it has been positioned by Gartner Inc. in the ‘Leaders’ quadrant of the Magic Quadrant for North American Mobile Retail Banking report. 'In my opinion, our positioning in this report mirrors what our customers and partners have been saying since we first launched mobile payment services in 2002,' comments M-Com CEO and Founder, Adam Clark."

New England Federal Credit Union Selects PSCU Financial Services and mFoundry for Mobile Banking
"Vermont-based New England Federal Credit Union (NEFCU) announced that they have selected PSCU Financial Services and mFoundry to deliver mobile banking to their more than 70,000 members. With over $720 million in assets, NEFCU is the largest credit union in the state of Vermont. "

Small Business Mobile with MMV

noreply@blogger.com (brandon@bmcgee.com) — Fri, 16 Oct 2009 18:01:00 +0000

I'm proud to announce that we have another FAAN Sponsor. Please check out the Mobile Money Ventures (MMV) ad on the right. On October 20th they're hosting a session on Small Business Mobile Banking in Chicago. >> Learn More

Monitise 1 Million Customers

noreply@blogger.com (brandon@bmcgee.com) — Fri, 16 Oct 2009 12:49:00 +0000

"Monitise plc, the global mobile money specialists, announces that it has registered its one millionth customer following a period of rapid growth in the uptake of its industry-leading services." >> Continue Reading

MShift Mobile Deposit - Thank You

noreply@blogger.com (brandon@bmcgee.com) — Thu, 15 Oct 2009 22:48:00 +0000

I'd like to take a minute to direct your attention to the MShift banner ad on the right side of the page. This is my way of saying "Thank You" to MShift for their generous donation to FAAN (Food Allergy and Anaphylaxis Network). FAAN is a charity that is near and dear to my heart as I am the parent of a child with food allergies.

As the banner ad suggests MShift has recently announced the integration of Mobile Deposit into their solution, and was even highlighted by the Wall Street Journal...

"MShift wants consumers to deposit their checks into their bank accounts using their cellphones, and its mobile app lets them do that. Customers sign up with the service and a participating bank, then shoot a cellphone photo of a check and forward it to MShift. The start-up processes it and sends a text message confirmation back to the customer." >> Continue Reading

Mobile Money Ventures Partners With Citibank Hong Kong to Launch Mobile U.S. Stock Trading Capability

noreply@blogger.com (brandon@bmcgee.com) — Wed, 14 Oct 2009 23:15:00 +0000

"Mobile Money Ventures, LLC (MMV), a leading global solutions provider of the next generation of mobile financial services, today announced it has rolled out the first mobile U.S. stock trading capability in Hong Kong with Citibank. The new feature builds on the successful mobile platform deployed by the two companies last year, allowing Citibank’s Hong Kong customers to now trade on both the Hong Kong and American markets, including the New York Stock Exchange and NASDAQ.

'At MMV, we are constantly working to innovate and develop cutting edge features to ensure our customers can take advantage of the most advanced technology available,' said Jayastu Bhattacharya, Senior Vice President of Strategic Business Development at MMV. 'With our customizable and scalable platform MMV can quickly and seamlessly bring to market solutions that meet our customers’ needs.'” >> Continue Reading

Mobile Banking Updates - Oct 14

noreply@blogger.com (brandon@bmcgee.com) — Wed, 14 Oct 2009 23:01:00 +0000

Co-op Model Puts Mobile Banking in Reach of CUs
"Eaton Family Credit Union had been interested in deploying mobile banking for some time, but its initial research into the technology turned out to be little more than expensive window-shopping. 'It was just way beyond our means,' said Fred Siegel, a business development manager for the 11,000-member Cleveland-area credit union, which has about $39 million of assets. So instead of buying an expensive software product, Eaton Family opted for a cooperative application from the credit union service provider Co-op Financial Services."

E-Payments: Telcos Not Trying To Get Into Banking; Transaction Cost
"Speaking at the IAMAI symposium on Financial Inclusion through mobile phones, Pallab Mitra, Head (Mobile Commerce) at Bharti Airtel repeated multiple times that the telecom operator is not interested in taking on the role of banks, rather, wants to work with banks. “We don’t have the wherewithal. A telecom operator will facilitate the ability for a common man to get a bank account with his expertise. We’re not trying to get into banking."

Monitise Americas Chosen as a 2009 Mobile Excellence Award Finalist
"Monitise Americas, LLC, a leading mobile banking and payments provider, is today setting its sight on a prestigious Mobile Excellence Award for Best Mobile Innovator, which honors the company that has proven to be the most progressive or launched the most groundbreaking product/service/model."

ClairMail Posts Record Revenue Growth in Third Quarter
"ClairMail, Inc., the leader in mobile banking and payment solutions, today announced that it has posted another 200 percent year-over-year revenue increase for the third quarter ending September 2009. Due to another record quarter and the company's unmatched roster of financial institution customers, ClairMail has also increased its mobile banking reach to more than 50 percent of the United States population. ClairMail had previously announced a record number of new customers and a 200 percent year-over-year revenue increase for the second quarter of 2009."

Fiserv Drives Paperless Bills with New E-mail and Mobile Presentment

noreply@blogger.com (brandon@bmcgee.com) — Wed, 14 Oct 2009 14:29:00 +0000

"Biller Direct HV also enables consumers to receive Short Message Service (SMS) text messages delivered to their mobile device with notifications regarding their billing account, including a bill reminder that contains bill summary information. Fiserv has already secured partnerships to make this new upgrade available and compliant with all U.S. mobile carriers.

"Particularly for younger consumers, incorporating mobile alerts to notify them of bills coming due or that have just been paid will help increase the utility and immediacy of bill payment services, while adding minimal incremental costs. For firms considering alerts, the need to develop them in-house can be offset by partnering with a solution provider that offers alerts as part of its broader bill payment platform," said Edward Kountz, senior analyst, Forrester Research, in the June 2009 report US Electronic Bill Payment And Presentment Forecast, 2009 To 2014." >> Continue Reading