Halifax doubles mobile user base in a year
UK retail bank Halifax reports that two-thirds of its customers are now using mobile to login, doubling the number of mobile banking sessions compared to a year ago.
Digital
V.me by Visa to be rolled out in UK this year
Visa Europe says that it will roll out its V.me by Visa in the UK this year, having secured commitment from 55% of the UK’s card issuance base, which accounts for more than 60 million card holders, and thousands of the UK’s retailers. It will now be commercially available to the majority of internet shoppers in the UK before the end of 2015.
Demystifying mobile payments
As mobile handsets become more prevalent as a tool for retailers, for payments, loyalty and engaging with consumers in and out of the store, security of sensitive data becomes increasingly more important.
Citi Mobile Challenge demos ‘disruptive’ finalists in London
Mobile startups are changing the way customers interact with financial services around the world. Tier one banks know this, and are keen to get a piece of the action. This week, companies from EMEA demoed at the Citi mobile challenge in London in the final stage of an annual event that takes in hundreds of financial startups around the globe.
Retail banks face falling customer satisfaction and loyalty globally
At first glance the message for banks from the latest World Retail Banking Report 2015 looks like very bad news for traditional banks. Globally, customers’ propensity to leave their primary bank is on the rise while their willingness to make referrals or buy additional products from their primary bank has decreased significantly.
MCX makes Mooney interim chief exec
Merchant Customer Exchange, developer of the CurrentC mobile payment platform has appointed financial services and payment industry veteran Brian Mooney as interim chief executive. Mooney succeeds Dekkers Davidson, who is leaving MCX to pursue other opportunities.
Payments innovation: lessons from emerging markets
Africa and Asia are the centres of innovation in payments, with the developed markets of the US and Western Europe lagging behind, but the trend is towards domestic offerings rather than regional or international ones, says the latest Payments Innovation Jury Report.
UK mobile banking set to double to £3.4 billion a week
The number of UK mobile banking users is set to almost double from 17.8 million to 32.6 million by 2020, according to a new report commissioned by Fiserv. Online banking is still growing too, the research found.
Study shows 60% of banks’ digital assets on wrong side of firewalls
Security specialist RiskIQ says the growth in digital business is producing an increasing threat to banks across the world, with the largest banks owning an average of 7,500 public facing digital assets – 60% of which are outside the company firewall.
TEB expands mobile banking to include live chats
Türk Ekonomi Bankası, one of the private sector commercial banks in Turkey, and a strategic partner of BNP Paribas, has launched an enhanced digital banking service featuring the ability to hold live chat sessions with bank staff.
Bell ID supports ANZ New Zealand mobile app
Host card emulation specialist Bell ID is enabling the launch of ANZ New Zealand’s upgraded goMoney mobile app, which is set to feature a cloud-based HCE NFC mobile wallet. The project, for the New Zealand division of ANZ Bank, will bring contactless mobile payments to the smartphones of more than 120,000 ANZ customers. The ANZ […]
Santander launches ISA mobile app
Santander has launched the UK’s first standalone ISA mobile app , which was designed and developed with mobile specialist company Monitise.
Türk Ekonomi Bankası to deploy HCE for contactless payments
Türk Ekonomi Bankası is to launch a mobile contactless payment application using Visa Europe’s host card emulation functionality to provide secure contactless payments.
Digitisation replaces regulation as top concern for retail banks
The need for a digital strategy has leapt to the top of retail banks’ agendas over the past year, replacing regulatory issues, as they look to fend of competition from tech and e-commerce rivals.
Securing the future of NFC?
Ever since the deployment of Apple’s NFC solution – ‘Apple Pay’, and the various competitors launches since, there’s been speculation around what the future holds for consumer payments and how security will impact it
SIA to connect Hungarian CSD Keler to T2S
SIA, in partnership with Colt, has been awarded the contract to connect Hungarian central securities depository Keler to T2S, the new single European platform for the settlement of transactions in domestic and cross-border securities.
Citi Mobile Challenge extends deadline
The Citi Mobile Challenge, which seeks to unearth innovation and developer talent in some of the most far flung reaches of globe in a bid to get the best talent to help change the way the world banks, has extended its registration deadline to allow more people to take part.
Mobile money goes global in 2015 reports GSMA
Mobile money is expanding rapidly as global smartphone penetration grows. This year, many providers are looking to expand their range of mobile money services to areas such as credit and savings – but operators must be wary of the remaining challenges, including regulation and market sizes, according to a new report by the GSMA.
Samsung banks on backward compatibility in payments play
Samsung has announced a new mobile payment service called Samsung Pay, that it claims will break the obstacles to mobile wallet adoption by being compatible with older point-of-sale terminals through the use of Magnetic Secure Transmission, which allows terminals using traditional magnetic stripe technology to accept payments.
SIA sees mobile future in 2015
Nearly two-thirds of Italians will be able to make real-time peer to peer payments using a mobile phone by this summer, according to Massimo Arrighetti, chief executive of Italian payment processor SIA. That’s not the end of SIA’s plans however, as the company focuses on an internationalisation agenda that targets 400 million European current account holders.
Lloyds to plough £1 billion into digital banking
Lloyds Bank plans to invest £1 billion in digital banking capability over the next three years, re-investing a third of the savings it hopes to make in its drive to become ‘simpler and more efficient’.
Fraud fears holding back consumer acceptance of mobile payments
Fear of fraud is the main factor slowing the adoption of smartphone-based payments among UK consumers, though a third believes that credit and debit card payments will no longer be the preferred method of payment in 2020.
Laying the foundations for agile financial services
As many more tech companies begin offering bank-like services, mainstream banks are searching for ways they can fight back
Al-Mawarid Bank ramps up online and mobile services
Lebanese commercial bank Al-Mawarid has begun a bank transformation project focused on mobile and online banking using the FusionBanking Essence Digital software from Misys.
Italian banks go global as Europe prepares for T2S
Italian banks are preparing for T2S, as Europe seeks to reform its cross-border trading infrastructure and bring down barriers between EU countries. The preparations are driving smaller regional banks to make deals with larger global banks as they prepare for implementation in June.
A winning mobile strategy
The mobile revolution is taking the financial services industry by storm. In less than five years it is predicted that the number of mobile phone owners using their device for banking purposes will double to over 1.75 billion. Banks cannot ignore the implications of what this means to their future business models. A mobile-first approach will be essential in leading the way.
Polish mobile payments platform prepares for launch with six banks
A new bank-run mobile payment service is set to launch in Poland next month, following collaborative efforts between six Polish banks. The new service will allow customers to make payments in stores and online, withdraw cash and send P2P transfers, all using their mobile phone.
Increasing customer engagement through mobile banking
Consumers in both developed and developing countries have embraced their mobile devices to check balances, make payments and conduct other financial activities. As a result, mobile banking has become a must-have offering for financial institutions. However, many are still working out how to go beyond the basics to add value for customers, increase engagement and maximise the return on the mobile channel investment.
Banking competition, divestments and the rise of the digital challenger banks
The Competition and Markets Authority has recently embarked on a full investigation into the so-called competitive stranglehold the four big banks – Lloyds, RBS, Barclays and HSBC – have over the UK market place. The CMA ended a five month consultation with the announcement of the investigation into accounts for customers and corporate accounts for small businesses – the CMA has already identified large branch networks and free current accounts as being barriers to entry for new banks
Biometrics – novel solution, or novelty?
One of the trends of 2014 was its delivery of technology that we had been promised for years but had fallen short until now. Siri, Cortana and Google Now all make good on the sci-fi staple of the voice-activated computer. Virtual reality has been attempted many times, but it seems that the Oculus Rift may have finally cracked it. And biometric authentication, while often included in devices but rarely used, is now commonly used by owners of new iPhones to unlock their devices thanks to Touch ID.
Fingerprint authentication for mobile finance moves closer with FIDO
Widespread use of fingerprint authentication for financial transactions on mobile devices could start taking off from early next year as Bank of America, Wells Fargo, Google, Samsung, Lenovo, Microsoft, Alipay and others adopt a new authentication standard through their joint project, the FIDO Alliance, which has just published its specifications and launched its first server.
Keep it personal – supporting customer-centricity with relevant financial products and services
Since the beginning of the global economic crisis, the financial services industry has faced challenges like never before. Headlines around bankers’ bonuses, PPI miss-selling and Libor manipulation have led to a lack of trust from consumers. In response, traditional banks need to join the new generation of financial service providers and their customers in their new natural habitat – online and on mobile.
Tablets and phones becoming the norm for e-retail
While online retailers roll their Black Friday bargains over to Cyber Monday, research shows that an increasing amount of online sales are being made via smartphones and tablets, and this trend is continuing – but this does not mean smaller crowds, as consumers are also switching to ‘click & collect’ services.
Barclays rolls out “anytime, anywhere” video banking
Barclays has launched a new video banking service on smartphone, tablet and computer, which it says will allow customers to have face to face conversations with the bank anytime, anywhere, without having to visit a branch.
Monitise deepens ties with partners to raise £49 million
Monitise plans to raise £49.2 million through extensions of its relationships with Santander, Telefónica and MasterCard. The money raised will be used to ‘support the development and accelerated roll-out of its global platform capabilities’.
Banks should go digital says Monitise
The time is right for a new breed of digital-only banks to enter the market and steal away share from the established players, according to a new report by Monitise.
Customer Not Present threat prompts response from US providers
As the US moves to adopt EMV chip and PIN cards and mobile payments, authentication is becoming a serious concern, particularly for customer not present transactions – evidenced by the number of Money20/20 exhibitors focusing on the topic in contrast to the blockchain focus of much of last year’s event.
Don’t neglect social media and tablets, banks warned
Banks will be judged on how well they provide mobile services and social media interaction in the coming years. Instead of being just another channel, these forms will be the first point of contact for customers, according to a new report by analyst firm Celent.
Brett King preaches the “good news” of mobile banking
Banks need to stop trying to exploit customers and start actually helping people, according to Brett King, chief executive at Moven. Instead of getting people to max out their credit card, a progressive bank should use smartphones and Big Data to help the consumer with the little things.
The death of the branch? Or is mobile over-hyped?
Do banks still need branches, or does the smartphone make a physical presence obsolete? Panellists disagreed during a spirited debate hosted by ATM maker Wincor Nixdorf in Istanbul last week.
