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Tuesday, July 13, 2010

Mobile banking in the USA almost doubles in 12 months

Research company IDC Financial Insights has published a survey that shows mobile banking usage in the United States has almost doubled in the last 12 months. In fact, usage was up across all channels; branch, ATM, debit card, card centre, online and mobile. SMS text messages were the most popular form of mobile banking. However, the company points out that mobile banking is still not a mainstream channel and says it offers few revenue opportunities.

It's this issue of mobile banking introducing additional costs without providing opportunities for revenue that's the main challenge, according to IDC Financial Insights. It says the convenience of mobile banking doesn't currently appear to be something that people are willing to pay for, although enhancements to mobile platforms – including the addition of deposit and payment solutions – could provide more opportunities for financial institutions to add revenue opportunities.

Marc DeCastro, Consumer Banking and Credit Research Manager at IDC Financial Insights, said "Consumers are transaction and information happy, and the branch continues to be as popular as ever. The financial services industry recognizes the importance and advantage it has with its brick-and-mortar branch networks, evidenced by continued branch investment. Our survey, however, shows that consumers are getting more and more comfortable opening accounts outside of the branch. While many financial institutions have jumped into the mobile banking space and are offering solutions, some are still pondering their entrance. Those that have already installed a solution may also be looking at modifications or enhancements to their first-generation rollouts."

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Opinion Articles

The fight against mobile bullying gets smarter with Bully Block

Mark Bridge writes:

With mobile phones becoming smarter – and increasing numbers of children using these smartphones – it's not surprising to hear that bullies are taking advantage of mobile technology. 'Cyber-bullying' is now in the Oxford English Dictionary... and some people have even called for a ban on mobiles in schools in an attempt to reduce bullying.

Taking a high-tech perspective in the fight against mobile bullying is Sedgrid Lewis, CEO of Spy Parent LLC.

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Never mind iPhone 5, it's the Apple iPad 3 that could change the world

Mark Bridge writes:

I like a bit of competition. It can encourage innovation, whether it's NASA's moon landings or Formula 1's telemetry. And it can be entertaining to watch, from Premiership football to the Tour de France.

It's one of the reasons the mobile industry still excites me. Although the frenzied growth of the 1990s is gone, there are still many competing forces.

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This week at The Fonecast: 17th July 2011

Mark Bridge writes:

Much like the mainstream media, this week's news summary begins with 'voicemail hacking'. In our podcast feature on Friday we spoke to industry crime-fighter Jack Wraith about the security of voice messages. He explained how remote voicemail access was now much more secure than it was ten years ago, which is good news for everyone (except dodgy investigators).

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How safe is your voicemail... and how safe is your phone?

Mark Bridge writes:

In this week's podcast feature we're joined by Jack Wraith, chief executive for the Telecommunications UK Fraud Forum and chairman of the Mobile Industry Crime Action Forum.

He talks to Iain Graham about the current state of voicemail security and the improvements to mobile security we've seen in the last few years.

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Dead phone boxes are now ready for saving lives

Mark Bridge writes:

The public telephone box is disappearing as mobile phone coverage improves. In 2002, there were 92,000 BT phone boxes in the UK. Today, there are a total of 51,500 payphones… including 11,000 traditional red boxes. In order to preserve the appearance of rural life - if not the landline connection - BT has been asking parish councils across the UK if they'd like to adopt their local kiosk. Just £1 lets a community keep its red BT phone box (with the payphone taken out)… and 1,500 have been adopted so far.

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Recent Podcasts

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Later in the programme, the team anticipates some of the topics that will be hitting the headlines during 2016.

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A month of mobile: O2 counts on 3, Microsoft counts to 10 and Apple counts its profits

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We also discuss Apple's record-breaking quarterly figures, the highlights of CES and the launch of Microsoft Windows 10, as well as saying farewell to the current version of Google Glass.

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