Links in “Mobile Banking”

Buried within the lengthy CFPB report are some key opportunities outlining the potential for mobile devices to improve access and services to the underserved. But it also draws attention to some of the risks presented by reliance on mobile financial services. [12/1/15]

According to 95% of financial institutions surveyed that offer remote deposit capture services, the answer is “yes.”  While they note that there are risks involved, the benefits exceed the costs and risks. In addition, the survey results revealed that risk-related concerns were not as dramatic as most feared with less than 25% of the respondents reporting that they incurred transaction losses. [11/24/15]

The CFPB report highlights that 44% of unbanked individuals have smart phones. Mobile banking may be the key to banking them. [11/5/15]

The most basic form of information theft is observation. Remind your customers that when using their mobile devices, they need to be aware of their surroundings, especially that person in line behind them. This is one of 12 practices ABA is suggesting to help keep your customers safe from mobile fraudsters. [10/23/15]

The smartphone is blurring the worlds of online and physical commerce. The space is expected to double in volume by 2020, which presents opportunities for those who can work their way through the accompanying complexities. [10/20/15]

In the past year sales of wearable devices has increased 163%. This means that wearables are going mainstream and credit unions need a plan for how this should fit within their overall mobile banking and payment strategies. This doesn’t mean that you need to invest in a new wearable app, but you do need to consider how you can extend your current services and functionality to wearable devices. [9/28/15]

NACHA has launched a mobile wallet initiative with the goal of supporting retailer and bank branded mobile wallets for electronic payment. This effort will be led by The Alliance Mobile Wallet Team, who will be speaking during the Members Meeting later this month. [9/10/15]

Survey finds one in seven Americans have deposited a check using a mobile device within the past year, up from one in eight last year. [8/26/15]

Branch transactions have declined 45% since 1992, and 15% just in the last four years. Nevertheless, industry observers suggest that branches aren't going away, but they will become decidedly different. [7/6/15]

Several community institutions have led the way in developing apps for new smart watches. As the apps can be almost identical to regular smart phone apps, it may be well worth your while to invest in new app development to keep up with the smart watch trend. [4/21/15]