"Although digital wallet technology is a relatively new perk, not having it can be a deal-breaker for millions of banking customers. According to a recent study conducted by Cognizant Business Consulting, the expansion of mobile banking options will be a key determining factor in customer loyalty going forward.

The study, which surveyed 2,100 banking users, revealed that a large share of customers consider improved functionality and more options for mobile banking to be high priorities when considering whether or not to join a bank." Continue Reading

Ten-Hut! Presenting Defense Mobile, a mobile carrier for U.S. soldiers
"Anyone who has ever spent time in a military town knows there is a whole network of services, ranging from medical and dental care to banking and department stores, provided specifically for members of the U.S. Armed Forces. One of those services, however, isn’t mobile. That’s changing this coming Veterans Day. November 11, a company called Defense Mobile Corporation is launching a new mobile virtual network operator (MVNO), offering inexpensive mobile phone plans for active-duty military and their families as well as for veterans, members of the reserves and even cadets and midshipman in the military academies. Combined those groups encompass 51.6 million people, DMC estimates."

Value-add mobile features offer potential revenue play
"Retail banks can realize the full potential of mobile banking by offering segmented consumer experiences and advanced digital wallet capabilities, according to a study by Cognizant and Monitise. Consumers are increasingly expecting banks to help improve their mobile lifestyles by providing anytime, anywhere capabilities; customized user experiences; shopping and social features, and value-added services. This, the study states, represents a new opportunity for retail banks to drive customer loyalty, attract new business, and generate more revenue."

More than 50 percent of U.S. adults bank online
"Digital banking is on the rise with more adults using the Internet and their mobile phones to handle their financial transactions, according to a new survey released by the Pew Research Center. Fifty-one percent of U.S. adults, or 61percent of Internet users, currently bank online, up from 46 percent of adults, or 58 percent of Internet users in 2010, according to the results of the survey. Also, 35 percent of cell phone owners use their mobile phones to check their balance or transact business with a bank, up from 18 percent in 2011, it said."

BBVA Compass targets small biz with mobile payment tool
"The smallest of small businesses are the target of a technology innovation rolled out by BBVA Compass. The bank’s “business mobility bundle” includes an e-business checking account, online and mobile banking, and a merchant “mobility pack,” with a secured card reader for processing debit and credit card transactions on a smartphone or tablet, a statement from the bank said. The card reader is the bank’s way of competing directly with Square, the mobile payment processor that allows some merchants to ditch their cash registers, Lonnie Hayes, small business segment director at BBVA Compass, told the trade journal American Banker."

The 1ドル.5 Billion Opportunity In Mobile Banking
"If banks want to add another 1ドル.5 billion to their collective bottom line, they should work on promoting mobile banking opportunities and, in particular, mobile deposits. That's according to a July report from Javelin Strategy & Research, which found that banks could see significant savings if they did more to leverage mobile banking. The report notes that not only do mobile transactions cost less to process, but that mobile customers tend to be younger and more affluent -- two traits that make them desirable targets for banks."

Why you may soon be talking to your ATM
"The world of banking has come a long way since the original days of brick-and-mortar establishments. It’s now possible to do your banking from the comfort of your home, potentially without ever stepping foot into a bank. Although it seems as if banking technology couldn’t evolve any farther than ATMs, online banking, and mobile banking apps, it has and will probably continue to. Soon, the entire banking world will be rocked with the introduction of the newest in ATM technology: teller-assisted ATMs."

Mobile Banking Is More Common Among Blacks and Hispanics
"Two independent studies have discovered that mobile banking use is disproportionately higher among blacks and Hispanics than whites. This is contrary to the conventional wisdom which presupposes that minorities lag behind white Americans in technology use. A study by the Pew Center on the Internet and American Life Project, published August 7, found that "Blacks and Hispanics" had a "statistically significant difference compared with others of the same group" for use of a cell phone for mobile banking. 34% of Black cell phone users and 35% of Hispanic cell phone users accessed mobile banking while only 26% of Whites did."

BBCN Bank Experiences Strong Mobile Growth Through Malauzai Software SmartApp
"Malauzai, a leading provider of mobile banking SmartApps for community financial institutions, announced that Los Angeles-based BBCN Bank has leveraged the company’s mobile banking solutions to meet the multi-lingual needs of its customer base."

HID Global Fuels Adoption of Layered Authentication Solutions to Protect Online and Mobile Banking Transactions
"HID Global, a worldwide leader in secure identity solutions, continues its drive to help financial institutions secure online banking services that nearly half of all their customers prefer for convenient account access. Through its forward-looking Identity Assurance portfolio and channel partnership initiatives, the company is fuelling adoption of layered authentication as part of a cost-effective security strategy for protecting online and mobile transactions from anywhere, and from any device, more frequently than ever before."

M&T, First Niagara mobile apps criticized
"The mobile banking applications available at two of the region’s largest local banks scored poorly on a new report gauging user friendliness and customer satisfaction. Apps available at M&T Bank (NYSE: MTB) and First Niagara Bank N.A. (NASDAQ: FNFG) are among the lowest rated in Xtreme Labs’ “U.S. Banking Apps Report.” Xtreme Labs based the rankings on publicly available customer comments on the Apple iTunes store and the Google Play store."

Is Mobile Banking the New Banking Reality? | Sherpas in Blue Shirts
"Move over, Angry Birds. Your standing as “the largest mobile app success the world has seen so far,” (as stated on February, 18, 2011 in MIT’s Entrepreneurship Review) is giving way to mobile banking apps. Indeed, apps from American Express, Bank of America, Capital One, Wells Fargo, Westpac, and others rank among the top apps on iTunes and the Android play store, with tens of millions of downloads already under their belt! And there’s little surprise about that…photograph your check and then have it deposited directly into whatever account you want, or send money to people via their email addresses or mobile phone numbers. Isn’t that cool?"

Mobile and Online Banking Cannot Replace Branches
"I recently read an article in one of Dubai’s local English-language news outlets touting a multinational bank’s regional launch of a new mobile banking app that promised to serve as a “virtual” branch for its customers. Shortly after, I read a separate article on The Motley Fool’s website titled “This Technology Will Save Banks a Bundle,” in which the author said, “As banks like PNC and Bank of America close branch locations, mobile banking may help them hang on to customers.”

Bank Via Smartphone? Simple Tips Can Protect Your Data
"More and more Americans are embracing digital banking – online and mobile. New numbers from The Pew Research Center’s Internet & American Life Project show 51 percent of adult Americans now bank online – up from 46 percent in 2010. When it comes to mobile banking, 35 percent of cell phone owners admit they bank online – up from 18 percent in 2011."

Apps from RBS Citizens, USAA Garner Best Customer Reviews
"Mobile strategy company Xtreme Labs has analyzed customer reviews from the Apple App Store and the Google Play Store and found RBS Citizens and USAA to have the highest-rated apps. The company looked at app reviews between May 18 and June 25 for the top 53 U.S. banks, as ranked by total assets."

Consumers want customized service in mobile banking "Retail banks can realize the full potential of mobile banking by offering segmented consumer experiences and advanced digital wallet capabilities. According to the study by Cognizant and Monitise plc , consumers are increasingly expecting banks to help improve their mobile lifestyles by providing anytime, anywhere capabilities, customized user experiences, shopping and social features, and value-added services. This, the study states, represents a new opportunity for retail banks to drive customer loyalty, attract new business, and generate more revenue."

Too Many Banks Still Treat Mobile Banking as an Afterthought
"I have spent a fair amount of the past three years or so researching, writing about, consulting and presenting on mobile banking. I think about the channel a lot and instinctively look out for new developments in the space on news sites or when I attend conferences. As an advocate of mobile banking, I feel that I should be entirely sold on making it my channel of choice with my bank. But I'm not. At least, not yet."

Segmented consumer experience key to mobile banking future - study
"A new study conducted by Cognizant (NASDAQ: CTSH) and Monitise plc (LSE: MONI) finds that retail banks can realize the full potential of mobile banking by offering segmented consumer experiences and advanced digital wallet capabilities."

Mobile is the new table stakes for banks
"As smartphone and tablet use accelerate in the United States, consumer expectations are growing as well. Banking customers, for example, now expect their financial institutions to offer mobile applications, and U.S. banks are responding, according to a report from Aite Group. And mobile banking apps are a particularly important way to reach younger consumers, because many of them bypass PCs completely in favor of smartphones."

Banks, Mobile Technologies and SMAC, Part 1
"The mega-trends of SMAC (social, mobile, analytics and cloud) plus IoT (Internet of Things/Connected devices/M2M) are changing entire industries. I am being asked frequently now to meet with IT and business teams to review how SMAC and related trends are impacting various industries so companies can better plan to meet these transformations. My colleague at Cognizant, Peter Abatan, is both a banking expert and a mobile technologies expert. Recently Peter has been sharing his thoughts with me on the topic of how SMAC (social, mobile analytics and cloud) trends are impacting the banking industry. Here are some excerpts from our exchanges:"

Banking Industry Predictions: 4 Trends to Expect Over the Next 10 Years
"Considering the staggering changes in banking we’ve experienced over the last decade, it’s safe to say predicting what will happen next is like trying to guess who is going to win the World Series. We can make some educated guesses, but — to really hammer the metaphor — there’s always a chance a curve ball is thrown our way. That said, a number of trends have emerged that say a lot about where the industry is going. And understanding where it’s headed can help better shape your finances today."

Mobile Banking Activity Continued to Grow in June
"Banks continued to report increases in mobile banking usage in June, according to the latest Mobile Banking Intensity Index. The overall value of the index, 72.5, was roughly in line with the intense growth of last month's reading of 73.8. Almost all the 336 bankers who shared information about their mobile banking offerings and adoption for the month of June reported steady growth in the service, which for many is relatively new. The overarching theme was fast adoption and growth with fluctuations and the occasional small hiccup."

Mobility Matters: At The Mobile Banking Tipping Point
"In Sweden, already mobile banking is at a tipping point with several financial institutions reporting that, out of nowhere, usage has surged beyond the online channel. Ditto for New Zealand where mobile access now outstrips online. Word in the United Kingdom also is that mobile banking has reached a tipping point."

Banks can gain by turning digital-savvy: A study
"A new study conducted by Cognizant and Monitise plc finds that retail banks can realize the full potential of mobile banking by offering segmented consumer experiences and advanced digital wallet capabilities. According to the study, consumers are increasingly expecting banks to help improve their mobile lifestyles by providing anytime, anywhere capabilities, customized user experiences, shopping and social features, and value-added services. This, the study states, represents a new opportunity for retail banks to drive customer loyalty, attract new business, and generate more revenue."

Study: Enhanced mobile payment options will drive customer loyalty for banks
"Retail banks that offer segmented consumer experiences and advanced digital wallet capabilities are likely to realize a good return on investment, according to a new study from Cognizant and Monitise plc. The study surveyed a diverse group of more than 700 consumers to understand their mobile banking expectations, emerging trends, and current and future needs. Increasingly, the study found, consumers expect banks to provide anytime, anywhere mobile capabilities, including customized user experiences, shopping and social features, and value-added services, and that represents a new opportunity for retail banks to drive customer loyalty, attract new business and generate more revenue."

Transactional Banking and Mobile Payments in China: An Emerging Opportunity
"When Chinese shoppers flocked to Apple stores for the new iPhone launch earlier this year, news reports highlighted the reaction as another sign of the dynamic and rapidly evolving mobile market in China. Indeed, analysts said, China is now not only largest overall mobile phone market in the world, with more than 900 million subscribers -- it also is the largest smart-phone market in the world, moving past the U.S. Apple itself noted that iPhone sales in Greater China were up fivefold in the firstquarter of 2012, compared with a year ago."

Mobile Money "On the Move" In Africa
"In developing markets like Africa, innovation and ingenuity play an important role in finding solutions to problems that cannot be resolved through traditional approaches. Advancements in technology, and especially in telecommunications, have resulted in access to basic utilities being made available and the enhancement of lives of millions of people globally."

ANZ to Spend 1ドル.53 Billion Upgrading Australia Business
"Australia's third-largest lender by market value said Thursday it would extend refurbishments of its domestic branch network and launch a number of new mobile-banking applications to help increase efficiency."

Cognizant and Monitise Form Mobile Money Alliance to Help Global Financial Institutions Capitalize on the Mobile Money Opportunity
"Cognizant (NASDAQ: CTSH) and Monitise (LSE: MONI) today announced a global alliance that will help financial institutions embrace the mobile channel of interaction, and develop effective and innovative mobile banking, payments, and commerce solutions. Combining Cognizant's extensive financial services and mobility expertise with Monitise's leading mobile money platform, the alliance will help global financial institutions speedily respond to the mobile money opportunity that is gathering significant momentum."

Rwanda: Airtel to Introduce Mobile Money Platform
"Airtel Rwanda is set to launch its mobile banking platform dubbed "Airtel Money" by the end of this year as it steps up efforts to increase market share following the launch of its operations in Rwanda early this year. Marcellin Paluku, Country Manager Airtel Rwanda, said the platform will provide rural tailored innovative mobile financial solutions to both financially excluded and the banked population, a move that is likely to boosting initiatives to promote cashless economy."

Turkcell Launches the Most Advanced Mobile Wallet Solution that Works on all Mobile Phones
"Being a global first with its feature that enables physical or online shopping by just using the mobile phone number, instead of the credit card; Turkcell Wallet is a SIM based application, working on all mobile phones. The transactions can be initiated through the SIM menu on all phones, or with a native application on smartphones, and it supports contactless payment on NFC-enabled phones. This unique service is also available for all Turkcell customers, whether they are bank customers or not."

Money goes mobile
"Bangalore-based network security professional Ashish Rao started using mobile banking earlier this year, and he has largely transacted through the ICICI Bank’s mobile banking application (app) since then. “Be it sending money to parents or to any of my other account(s), I largely transfer funds through the mobile. I also shop on e-commerce sites and book movie tickets through the mobile, as it can be done anywhere, anytime,” explains Dilip."

CARE, Mwanga Community Bank and Vodacom Launch Mobile Banking in Tanzania
"The global poverty fighting organization CARE, Mwanga Community Bank and Vodacom Tanzania have launched a program that will connect remote community savings groups in Mwanga, Tanzania to banks using mobile phones. This innovative partnership is only the second-of-its-kind anywhere in the world. The first was launched in March by CARE and partners in Kenya."

ASB Bank apologises for technical glitch
"ASB Bank has apologised after a technical glitch this morning (Mon) caused headaches for customers using its Eftpos, mobile and online banking services. Customers took to the bank's Facebook page to vent their frustration, with one saying he was unable to pay for parking because his Visa debit card was not working."

1.0m brought under mobile banking: Atiur
"Around 1.0 million subscribers have come under mobile technology-based financial services, said Bangladesh Bank (BB) Governor Dr Atiur Rahman Tuesday, reports UNB. 'Through this service, transaction worth around Tk 10 billion (1000 crore) in each month and around Tk 330 million (33 crore) per day is being settled. Each month, the transaction volume through mobile banking is increasing by 15 per cent,' he said."