Thursday, May 9, 2013
Mobile Banking Updates - May 9
Infographic: Mobile Banking Critical to Customer Loyalty
"The findings of new study conducted online by Harris Interactive on behalf of Yodlee Interactive shows that banking convenience “dominates” all options amongst reasons to stay with banks. With the convenience of online and mobile banking, more customers are utilizing these services, while banks are responding by reducing the number of physical branches."
Banking by Voice Gets Test From U.S. Bank
"U.S. Bank (USB_) is testing a voice-banking service that enables customers to check account balances, review transactions and pay bills solely through voice activation. For now, U.S. Bank is limiting the app test campaign to its FlexPerks Travel Rewards program and to its employees. The voice-activated technology comes from Nuance Nina Mobile, and is now limited to iPhone and Android phones."
Intuit Debuts Mobile Banking App for Android Tablets
"Intuit Financial Services has released a tablet banking app for the Android operating system. The new app lets customers check balances, transfer funds, pay bills and find branches and ATMs, Intuit (INTU) said Tuesday. The app works on all seven- and ten-inch tablets and can be downloaded through the Google or Amazon app stores. Sharon Credit Union in Massachusetts has begun offering the app to its customers, Intuit said in the news release."
Four Sure-fire Tips for Mobile Banking Security
"I’m writing this dispatch from the Pacific Coast, where I’ve just seen a fabulous-yet-disturbing documentary at the Newport Beach Film Festival. It’s called “Terms and Conditions May Apply,” and director Cullen Hoback’s movie takes a chilling look at how vulnerable we all are in this digital society. That is, “free” services such as Google, Facebook and Twitter know much more about us than you might think — and they’re holding onto that information indefinitely. They also share it at will with federal espionage services, thanks to the dense legalese written into online terms of service since 9/11 and the Patriot Act."
A year of successful mobile banking
"In just one year, BOV Mobile, the mobile banking service for smartphones introduced by Bank of Valletta, has attracted more than 11,500 customers who have collectively used their phones more than half a million times to make payments, transfer funds and to monitor their accounts. 'We view mobile banking as a natural extension of our overall channel strategy. Mobile combines the best features of online banking, the convenience of an ATM, and the responsiveness of text messaging all in the palm of your hand,' chief operations officer Michael Galea said."
Banks Must Think Differently About Customer Experience In A Branchless Digital Environment
"Banks have offered online accounts for years, but new digital banking technologies, such as mobile remote deposit capture, and a new generation of young customers are driving increased interest in digital bank accounts. Customers in their 20s and 30s have been quick to embrace mobile and online capabilities that are steadily making branches obsolete -- at least for day-to-day banking needs. The fast-paced adoption of mobile remote deposit capture to deposit checks is a recent example of this trend. "The advent of mobile remote deposit capture is eliminating the No. 1 reason for branch visits," says Teresa Epperson, a managing director at AlixPartners, a consulting firm."
How Can Businesses Help Consumers Bank Better?
"It's not easy to pay mobile phone bills with cash. Yet, 24 million households are under-banked and 91% of the underbanked have mobile phones and smartphones, according to the FDIC. With numbers like these, it makes sense for consumer businesses such as mobile carriers to help customers bank up, says Plastyc CEO Patrice Peyret. At FinovateSpring 2013 in San Francisco, Peyret will demo a new banking service platform and discuss practical insights for consumer businesses that want to provide smart, simple banking services to their customers."
American Savings Bank Dials Up Mobile Deposits and Sets Adoption Record
"Monitise plc (LSE: MONI) today announced that Hawaii-based American Savings Bank is experiencing phenomenal user adoption since the launch of its mobile banking and payments solution. As part of Monitise's Bank Anywhere mobile solution, American Savings Bank is the first Hawaiian bank to deploy mobile remote deposit capture, resulting in mobile deposits skyrocketing by 40 percent in March. In a mere four months since deployment, many of American Savings Bank's active online banking customers are already using the Bank Anywhere services developed and deployed by Monitise."