Mobile Banking Soars; Usage in U.S. Increases 50 Percent Since 2011
"Mobile banking has taken hold around the globe, presenting significant opportunities for banks to drive out costs and deepen customer relationships; this according to Bain & Company’s annual “Customer Loyalty in Retail Banking Report (2012 global edition),” released today by the global business consulting firm. The report finds that Asia has the highest mobile banking penetration—47 percent of survey respondents in South Korea said they had mobile interactions in the previous three months, the highest penetration in the survey—while survey respondents in the U.S. reported the highest frequency, averaging 4.9 mobile transactions in the previous three months."
2 for 1: Integrating Mobile Banking and Deposits
"Despite operating autonomously, the eight banks branded 'Simmons First' strive to present a common, customer-centric image across all interaction channels. 'It’s our intent to provide consistent, seamless information regardless of the channel or location,' explains Lisa Hunter, SVP of cash management and retail delivery for Simmons First National Corporation. 'Whether customers come into a branch, call us or use a self-service option, it’s important the experience be the same.'”
GoPayment: The Future of Mobile Banking
"It used to be that a bank was a building you visited to make deposits and withdrawals and perform other financial services. Nowadays, a bank is something you carry in your pocket. Anybody with a smartphone can make or take payments, check balances, transfer funds and even make deposits from almost any location and at any time."
Mobility, where are you headed?
"Mobility, as a concept, has captured the collective imagination of the tech savvy populace. CEOs and CTOs wax eloquent on their grandiose plans in this domain. A lot has been written about NFC device use, smart kiosks, mobile banking etc., projecting these as the next big thing in mobile and banking technology. However, I feel the ground reality is far removed from this. Every time I glance around in stores and malls, I notice that very few people use mobile banking. I initially wondered if this was unique to India, as we are not a very tech savvy people. On probing further, I have come to believe that it is a worldwide phenomenon, with even advanced countries yet to warm up to mobility. "
BBVA Compass adds bilingual app for mobile banking
"BBVA Compass is expanding its mobile banking outreach with the launch of a bilingual iPhone app. The new app will allow customers to access the bank’s mobile banking information in both Spanish and English. 'We currently serve a number of markets with a growing Spanish-speaking population, so we wanted to give those customers access in the language that is most comfortable to them,' says Alex Carriles, executive vice president and director of Mobile Strategy and Retail Innovation at BBVA Compass. 'We already operate as a fully bilingual bank in the U.S., and these additions will support that commitment.'”
Three ways to transfer funds through your mobile
"While fund transfer through mobile banking is not an entirely new concept, it hasn’t become a part of our banking needs the way online banking has. So what is it that stops you? One reason could be lack of awareness and another could be the perceived challenging technology which really is not so challenging. We give you three simple ways to transfer your funds through your mobile. Through these modes, you can transfer money to a person’s account, with or without the account details, and even pay utility and other bills."
Marketing Mobile Banking Can Double Average Adoption Rates, Shows Fiserv Analysis
"Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that an analysis of data from the Mobiliti™ mobile banking and payments solution revealed that marketing can significantly impact consumer adoption of mobile financial services. According to the analysis, which looked at data across hundreds of financial institutions, banks and credit unions, financial institutions that have actively marketed mobile banking have experienced an average adoption rate that is twice as high as financial institutions that have not promoted the service."