Mobile Banking

Top Mobile Applications 2008

Tue, 19 Aug 2008 10:57:34 -0400

Top Mobile Applications Awards 2008

With consumers tightening their belts and hunkering down in the face of an imminent recession, the mobile industry finds itself at a crossroads. On the one hand, devices, multimedia services and user interfaces continue to improve--but on the other hand, wireless subscribers find themselves with little disposable income to allocate on luxuries such as mobile TV and music.

Growing evidence suggests that users desire a mobile experience that transcends passive entertainment, preferring instead practical, utility-based applications like mobile-optimized banking and travel planning. A recent usage and attitudes study conducted by mobile web domain registry dotMobi and digital agency AKQA cites growing consumer trust in the security of the mobile web, noting the volume of consumers demanding access to mobile banking and related m-commerce services. According to the dotMobi study, roughly 90 percent of respondents said they would be more likely to select an airline with mobile check-in over one that did not offer mobile services, while almost two-thirds of participants said they would consider purchasing theater tickets, take-out food and travel tickets on mobile.

FierceMobileContent's third annual Top Mobile Applications Awards reflect the changes sweeping across the industry they honor, heralding a new wave of practical, prosumer-oriented mobile services and tools that simplify and improve the day-to-day lives of a consumer segment in perpetual motion. The spotlight this time around falls on applications that exploit the possibilities implicit in a catch-all term like "smartphone"--these are intelligent applications for intelligent subscribers, with an emphasis on m-commerce, mobile social networking and location-based services.

What remains the same year in and year out is the process for determining the finalists: After evaluating hundreds of apps according to guidelines including technological innovation, revenue potential and competitive edge, we've come up with a diverse roster linked by their originality, practicality and personality. They are mobile applications that will survive and even thrive regardless of the economic turmoil ahead--necessities, not luxuries. -Jason

And the winners are...

Cellfire

CellSpin

CTA Bus Tracker

E*Trade Mobile Pro

MightyBackup

Movial Social Communicator

Remember the Milk

Skyfire

sniff

VZ Navigator

Huntington National Bank goes mobile

Jason Ankeny — Tue, 01 Jul 2008 10:10:17 -0400

Huntington National Bank, which provides retail and commercial financial products and services across over 600 regional banking offices spanning seven states, announced the launch of its free Huntington Mobile Banking service. Promising up-to-the-minute account balances and history checking, savings, and credit accounts, funds transfers, bill payment and local bank information, the Huntington Mobile Banking platform employs the same 128-bit encryption and security technology utilized for Huntington Online Banking. According to Huntington, mobile service is available on any feature phone, smartphone or related mobile device with browser access.

For more on Huntington Mobile Banking:
- read this release

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Bank of America surpasses 1M mobile user mark

Jason Ankeny — Thu, 12 Jun 2008 10:58:47 -0400

Bank of America, the largest U.S. commercial bank by both deposits and market capitalization, announced it now boasts more than 1 million unique active mobile banking customers, two thirds of them under the age of 35 and four out of five under the age of 45. The service, introduced nationwide in May 2007, enables Bank of America customers to check balances, pay bills, transfer funds, view posted and pending transactions and locate banking centers and ATMs, complete with maps and directions, all via mobile device. According to BoA, users now register over four million mobile banking sessions each month. The Los Angeles market ranks highest among mobile usage, followed in descending order by Atlanta, Washington D.C., Dallas and New York City. Bank of America adds the vast majority of mobile banking activity takes place on the iPhone, BlackBerry and Windows Mobile platforms.

For more on Bank of America's mobile benchmark:
- read this release

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SK Telecom, Citigroup team on mobile banking

Thu, 06 Mar 2008 06:59:56 -0500

Korean mobile operator SK Telecom announced a joint venture with international financial conglomerate Citigroup to sell mobile banking and payment solutions in the North American and Asian markets. Each firm will invest $8 million to launch San Francisco-based Mobile Money Venture, which will provide a series of mobile transactional services similar to SK Telecom's Moneta service in Korea. SK Telecom will develop mobile banking software and hardware systems for Citibank customers in Hong Kong and major U.S. cities; pending successful trials, Mobile Money Venture will expand into mobile payment and electronic coupon services. "This is not an exclusive deal, so we will be able to sell the platform to other banks and mobile carriers in other countries later on," SK Telecom spokeswoman Cindy Kang told The Korea Times.

For more on Mobile Money Venture:
- read this Korea Times article

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Obopay adds m-payment service to BlackBerry

Fri, 18 Jan 2008 06:59:55 -0500

Mobile payment solutions provider Obopay announced its signature wireless service will launch via Research In Motion's BlackBerry smartphones later this month. The application promises BlackBerry users efficient, customizable access to Obopay's complete suite of mobile payment services, enabling consumers to send and receive money, check account balances and payment history, and purchase goods and services. "The typical BlackBerry user epitomizes our need for convenience as professionals and consumers," said Obopay CEO Carol Realini in a prepared statement. "This merges perfectly with Obopay's commitment to giving people everywhere expedient means to send and receive money and pay for goods and services."

For more on the Obopay BlackBerry app:
- read this release

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Verizon, Firethorn expand m-banking partnership

Fri, 04 Jan 2008 06:59:58 -0500

Verizon Wireless and Qualcomm-owned mobile banking and payments enabler Firethorn Holdings announced that customers of financial institutions including Wachovia, SunTrust, FirstBank, and BancorpSouth may now access their accounts via mobile handset. Verizon subscribers can check account balances, transfer funds between accounts within the same bank, and review and pay bills, all in real-time. The Firethorn application is currently available on Verizon devices including the Chocolate and enV by LG, LG VX8700, LG VX8600, LG VX9400 and the Samsung SCH-a950--additional handsets are scheduled to follow in the months ahead.

For more on Verizon's mobile banking services:
-read this release

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What's hot: Mobile banking

Wed, 02 Jan 2008 06:59:55 -0500

By the end of 2007, Bank of America--the world's second largest banking corporation--counted more than 500,000 active mobile banking customers, despite introducing mobile services just six months earlier. To paraphrase Snoop Dogg, consumers have their mind on their money and their money on their mind, so it's no surprise that mobile banking is quickly approaching mainstream status. A recent report issued by market research firm TowerGroup forecasts that mobile banking services will soar from 1.1 million consumers in 2007 to 40.9 million by 2012, and for once it seems like such lofty projections are justified--after all, if the mobile experience indeed hinges on brief snacking interludes, it certainly seems much more productive to spend five minutes checking account balances, transferring cash and paying bills rather than playing games or watching YouTube clips.

O2 launches mobile wallet trial

Wed, 28 Nov 2007 06:59:57 -0500

British carrier O2 announced the launch of O2 Wallet, a large-scale mobile payment pilot enabling participants to pay for purchases and access events via NFC (Near Field Communications) contactless technology. The pilot, which brings together O2 partners including Nokia, Transport for London, TranSys, Barclaycard, Visa Europe and AEG, spans 500 O2 subscribers and selected sites across London, and continues through May 2008--each participant will be given a Nokia 6131 NFC handset installed with the O2 Wallet, enabling them to finance transactions including retail purchases in retail outlets and travel on London's public transport system by touching the phone to an electronic reader. All participants will be asked to submit feedback, evaluating ease of use, security and overall usefulness. O2 said it is already in discussions with partners to extend the O2 Wallet functionality to include PIN capability, large purchases and reloadable/credit funds capability.

"Research shows that people are more likely to return home if they leave their phone behind than their wallet or keys," said O2 customer director Cath Keers in a prepared statement. "So why not have your wallet on your phone? We believe that NFC technology is going to fundamentally change the way people use their mobile phones."

For more on O2 Wallet:
-read this release

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Sony, NXP team for mobile payment chip venture

Thu, 15 Nov 2007 06:59:57 -0500

Hours after Qualcomm acquired Firethorn Holdings for $210 million, Sony announced it too will jump on the mobile payment bandwagon, teaming with Dutch semi-conductor company NXP to create Moversa, a joint venture that will develop, produce and market a Universal Secure Access Module enabling payments and ticketing via mobile device. The Moversa chip will be available for testing by mid-2008, with commercial deployment scheduled to follow by year's end. Vienna-based Moversa will hire some 50 employees in the next few months, said NXP's Guus Frericks, who will head up the venture in collaboration with Sony's Toshio Yoshihara. Moversa "paves the way for consumers to use mobile handsets for various contactless applications such as mobile payments and transport ticketing, anytime, anywhere," the companies said in a prepared statement.

For more on Moversa:
- read this AFP article

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Qualcomm acquiring Firethorn for $210 million

Wed, 14 Nov 2007 06:59:58 -0500

Developer giant Qualcomm announced it will acquire mobile banking enabler Firethorn Holdings for approximately $210 million in cash. The deal is expected to close within 30 days. According to Qualcomm, Firethorn's financial industry expertise and mobile operator partnerships supports its broader strategy to deliver end-to-end wireless services that drive mobile data adoption: "The combination of Firethorn's mobile banking experience and market recognition with Qualcomm's technology strength, global reach and operator relationships make this an extremely powerful development in the world of m-commerce," said Qualcomm executive VP and group president Len Lauer, who will oversee the Firethorn team in cooperation with Firethorn CEO Tripp Rackley.

On Tuesday, AT&T announced Firethorn will power the operator's nationwide mobile banking service. Firethorn also boasts an m-banking deal with Verizon Wireless.

For more on the Qualcomm/Firethorn deal:
- read this release

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AT&T, Wachovia partner for nationwide m-banking

Tue, 13 Nov 2007 06:59:59 -0500

In tandem with financial services firm Wachovia, SunTrust Banks and mobile banking and payment enabler Firethorn Holdings, AT&T announced a nationwide mobile banking platform that will enable subscribers to view account balances and history, transfer funds and pay bills from their handsets. The mobile banking application will arrive pre-loaded on future AT&T handsets beginning by year's end. The operator promises that embedding the solution on devices will make it easier for subscribers to locate the mobile banking icon and access the service. AT&T adds the banking app is also available for download on more than 30 handsets, representing roughly 30 million devices already in use. AT&T mobile banking access is free; data charges apply, but the carrier said the service is optimized to reduce the number of page views necessary to complete each transaction.

"From our experience as the first major U.S. bank to offer a mobile banking solution, the demand for mobile capabilities is clear--people want to bank when and where it is convenient for them," said Wachovia's director of emerging applications Ilieva Ageenko in a prepared statement. "AT&T takes mobile financial solutions to the next level by extending the capabilities to a much broader base and provides Wachovia customers with an innovative new method of ubiquitous access to their financial information."

For more on the AT&T mobile banking service:
- read this release

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ALSO NOTED: uLocate launches WHERE via Boost Mobile; RepeatSeat debuts m-commerce initiative; and much more...

Fri, 26 Oct 2007 06:59:53 -0400

> uLocate launches WHERE via Boost Mobile. Release

> RepeatSeat debuts m-commerce initiative. Release

> ACI Worldwide expands mobile banking solution. Release

And finally… Carnivorous trees. Article

Sybase 365 debuts mobile banking service

Mon, 22 Oct 2007 06:59:56 -0400

Messaging interoperability and mobile content delivery service provider Sybase 365 announced the launch of Sybase mBanking 365, a new product suite for the financial industry enabling real-time interaction between banks and customers via mobile alerts, two-way banking services, out-of-band authentication and marketing. Sybase mBanking 365 promises secure and direct interaction across the SMS, WAP, and rich client channels, delivering services including account activity alerts and balance inquiries. It also features support for natural language, interactive banking services via the company's Answers 365 product, which enables users to access services without memorizing preset keywords.

For more on Sybase mBanking 365:
- read this release

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GSMA, Western Union team for mobile cash transfers

Thu, 18 Oct 2007 06:59:57 -0400

Mobile operator trade group the GSM Association announced an agreement with money-transfer service Western Union to enable cross-border mobile money transfers. Western Union and the GSMA are at work on a commercial and technical framework that will facilitate sending and receiving low-denomination, high-frequency money transfers via mobile handset. Upon connecting to the Western Union service, operators will be able to use their own mobile wallet software for person-to-person mobile money transfers over Western Union's international remittance network, allowing for both cash-to-mobile and mobile-to-cash transactions. Commercial roll-out is expected to follow in the second quarter of 2008.

According to the GSMA, 35 operators with more than 800 million customers across more than 100 countries are participating in the Mobile Money Transfer program. "Remittances are playing a vital role in the social and economic development of India and many other developing countries," said Sunil Mittal, chairman and managing director of Bharti Airtel and a member of the program steering committee. "This initiative will bring down the cost of lower-value and high-frequency mobile remittances considerably and also enable smaller amounts to be transferred in a fast and secure fashion, thereby benefiting millions of people in the developing world."

For more on the GSM Association/Western Union initiative:
- read this release

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ALSO NOTED: Verizon inks mobile banking deal with Firethorn; Barnes & Noble goes mobile via Digby; and much more...

Mon, 15 Oct 2007 06:59:53 -0400

> Verizon inks mobile banking deal with Firethorn. Release

> Barnes & Noble goes mobile via Digby. Release

> The Nielsen Company debuts new mobile and Internet measurement services. Release

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ALSO NOTED: Playyoo announces community-based mobile gaming platform; Postilion launches mobile banking solution; and much more

Tue, 02 Oct 2007 06:59:53 -0400

> Playyoo announces community-based mobile gaming platform. Release

> Postilion launches mobile banking solution. Release

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ALSO NOTED: Rave Wireless scores $18 million in Series C; Volantis teams with GarantiBank for mobile banking services; and much

Tue, 25 Sep 2007 06:59:53 -0400

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ALSO NOTED: AT&T temporarily suspends parental controls following 911 problems; VeriSign, ClairMail team on mobile banking; and

Mon, 24 Sep 2007 06:59:53 -0400

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Study: Consumer trends favor m-banking takeoff

Tue, 11 Sep 2007 06:59:59 -0400

U.S. messaging and content delivery services provider Sybase 365 reports more than a third of U.S. consumers can state their bank balance at any given time, and an additional 42 percent can calculate their current balance total to the nearest $200--both signs Sybase says point to a bright future for mobile banking services. A July 2007 Sybase 365 survey, "Mobile Opportunities for the Financial Sector," indicates U.S. consumers are particularly obsessed with their finances, checking bank balances more frequently than other regions of the Americas--61 percent of Americans admit to checking their bank balance at least every few days, and 29 percent require daily updates. Sybase said only 3 percent of U.S. consumers are ignorant of their present bank balance at any given time.

While 76 percent of U.S. consumers use Internet banking to check their bank balance, the country relies more on traditional paper statements than other regions, with nearly a quarter of consumers dependent on receiving bank statements by mail. Although 57 percent of Americans believe Internet banking services are secure, only 24 percent believe in the security of mobile banking--for that matter, 59 percent of U.S. consumers do not even know if their bank offers mobile banking services.

"Online banking is currently the number one way consumers check their account, but it didn't become mainstream overnight. Mobile banking is well on its way to gaining the same widespread popularity among consumers," said Marty Beard, Sybase 365 president. "Consumers are already dependent on having many conveniences at their fingertips, and eventually that will expand to include banking abilities. Financial institutions will soon have to meet consumer demands and market mobile offerings to remain competitive."

For more on the Sybase 365 study:
- read this release

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British operators team for PayForIt

Tue, 04 Sep 2007 06:59:56 -0400

The United Kingdom's five largest mobile operators--Vodafone, Orange, 3, O2 and T-Mobile--announced they will cooperate on PayForIt, a new mobile payment service that will work across their respective network platforms.

PayForIt enables consumers to bill purchases up to $20 to their mobile accounts. Firms including MTV, Samsung, Sony Ericsson and ITV Mobile are already signed up as accredited PayForIt intermediaries. Initially targeted for digital purchases including audio and video downloads, the PayForIt service is expected to eventually encompass purchases like train tickets, congestion charging, parking fees and movie tickets.

"It's like PayPal on your phone," said Anuj Khanna, head of marketing for PayForIt partner Tanla Mobile, in an interview with The Telegraph. "This is creating a new market for small transactions using your phone. It's a market that has been eyed by all the major banks for a long time but they have not been able to come up with a product."

For more on PayForIt:
-read this Telegraph article

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