plus 3, Reportlinker Adds Global Mobile Banking Industry - TMCnet

Reportlinker Adds Global Mobile Banking Industry - TMCnet
Top Online Banking Threats to Financial Service ... - Bank Info Security
S'pore bank sees mobile users doubling - Zd Net Asia.com
Benguet farmers’ stock-in-trade gets upgrade - Global Nation

Reportlinker Adds Global Mobile Banking Industry - TMCnet

Posted: 12 Mar 2010 10:36 AM PST

NEW YORK, March 12, 2010 /PRNewswire via COMTEX/ -- Reportlinker.com announces that a new market research report is available in its catalogue: Global Mobile Banking Industry http://www.reportlinker.com/p0181085/Global-Mobile-Banking-Industry.html This report analyzes the worldwide markets for Mobile Banking in Millions (Number of Users).The report provides separate comprehensive analytics for US, Canada, Europe, Asia-Pacific, and Rest of World. Annual forecasts are provided for each region for the period 2006 through 2015. The report profiles 84 companies including many key and niche players worldwide such as Bank of America Corp., Barclays Bank Plc, BB & T Corp., Citibank N.A, JPMorgan Chase & Co., Lloyds TSB Bank Plc, The PNC Financial Services Group, Inc., Wells Fargo & Company, ClairMail, Inc, Firethorn Holdings, LLC, Fronde Anywhere Ltd., Fundamo (Pty) Ltd., Macalla Software Ltd., mFoundry, MI-PAY Ltd., Monitise plc, Monitise Americas, MShift, Inc., and Sybase Inc. Market data and analytics are derived from primary and secondary research. Company profiles are mostly extracted from URL research and reported select online sources.

MOBILE BANKING MCP-6073 A GLOBAL STRATEGIC BUSINESS REPORT CONTENTS I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITION Study Reliability and Reporting Limitations I-1 Disclaimers I-2 Data Interpretation & Reporting Level I-3 Quantitative Techniques & Analytics I-3 Product Definitions and Scope of Study I-3 II. EXECUTIVE SUMMARY 1. INDUSTRY OVERVIEW II-1 Multi-Channel Banking - The New Mantra for Banking Sector II-1 Comparative Analysis of Various E-Banking Channels II-1 Mobile Financial Services Market - An Overview II-2 Table 1: Mobile Phone Penetration in Select Countries (includes corresponding Graph/Chart) II-2 Mobile Banking Market - An Overview II-3 Growth of Mobile Banking Across Geographical Markets II-3 Mobile Banking - At a Glance II-3 Mobile Banking - Serving the Un-Banked II-4 Current & Future Analysis II-5 Factors Influencing Mobile Banking Market II-5 Convenience II-5 Reduced Transaction Costs II-6 Factors Influencing Growth in the Mobile Banking II-6 Market Restraints II-6 Factors Restraining Market Growth II-7 2. MARKET DYNAMICS II-8 Expanding Mobile Banking Market - A Reflection of Changing Banking Patterns II-8 Mobile Banking Opportunities for Various Market Participants II-8 Mobile Banking - Potential Growth Opportunities II-9 Integration of Mobile Phones & Self-Service Channels II-9 Personalization & Customization II-9 Location-Based Services & Loyalty II-9 Recession Fosters Demand for Mobile Banking II-9 Consumer Behavior and Usage Pattern of Mobile Banking Services II-9 Mobile Internet & Advanced Technologies Propel Mobile Banking Market II-10 Factors Driving Adoption of Advanced Mobile Banking Services II-10 Growing Penetration of 3G and Smartphones II-10 Table 2: % of 3G and Smartphone Customers Using Mobile Banking Services (2009): Breakdown for Web Browser, Client Application and SMS-Based Service (includes corresponding Graph/Chart) II-11 Mobile Banking: Technology Perspective II-11 Marketing Opportunities for Mobile Banking II-12 3. PRODUCT OVERVIEW II-13 Mobile Banking - A Conceptual Definition II-13 Prerequisites for Availing Mobile Banking Services II-13 Factors Influencing Banks' Adoption of Mobile Banking Technology II-14 Classification of Mobile Banking Services II-14 Push & Pull Services II-14 Transaction-Based and Enquiry-Based Services II-14 Additive Banking II-15 Transformational Banking II-15 Delivery of Mobile Banking Services II-15 Mobile Banking with SMS II-15 Benefits and Drawbacks of SMS Banking II-16 Mobile Banking with WAP II-16 Mobile Web - Advantages & Disadvantages II-17 Downloadable Application II-17 Mobile Client Applications - Advantages & Disadvantages II-18 SMS with Mobile Web (SMS with WAP Push) II-18 SMS with Mobile Web - Benefits & Drawbacks II-18 Secure SMS II-18 Secure SMS - Benefits & Drawbacks II-19 Mobile Banking Business Models II-19 Bank-Led Model II-19 Bank-Focused Model II-20 Non-Bank-Led Model II-20 Mobile Banking Services - An Overview II-20 4. MOBILE BANKING - TECHNOLOGY COMPONENTS II-22 Technology Components of Mobile Banking II-22 Mobile Handset II-23 Role of Advanced Handsets II-23 Mobile Network Technologies II-23 Description of Select Mobile Channel Technologies II-24 Features of Mobile Channel Technologies II-24 5. CHALLENGES FACING MOBILE BANKING MARKET II-25 Security of Mobile Banking Services - A Major Concern II-25 Potential Threats Faced by Mobile Banking Services II-25 Security Provisions & Customers II-26 Interoperability II-27 Scalability & Reliability II-27 Application Distribution II-27 Network-Related Issues II-27 Lack of Common Standards & Regulations II-28 Customer Authentication II-28 Other Challenges II-28 6. PRODUCT/SERVICE INTRODUCTIONS II-29 Petra and Caxton FX Release Touchstone Mobile II-29 MMV and Citibank Release Citi Mobile Banking II-29 Telcel Teams Up with Banamex to Introduce SMS-Mobile Banking II-29 IFIC Bank Launches SMS Banking Service II-29 Lloyds Launches On Demand Text Balance Service II-29 Metavante, Monitise Introduce Text Message Banking Service II-30 Rwandatel to Launch Mobile Banking Service II-30 PSCU Launches Mobile Banking Service II-30 EFICI Unveils EFICASH(TM) II-30 Zain to Launch Mobile Banking Service II-31 Yes Bank to Launch 'Pay Anyone' Mobile Payment Solution II-31 Citibank and Telkomsel Introduce Citi Mobile-Thin Client II-31 Fifth Third Bank Unveils Mobile Banking Service II-31 MTN to Introduce MTN MobileMoney II-31 Citibank Launches Mobile Banking Service II-31 Sun Microsystems and C-SAM Launch New Mobile Banking Solution II-32 Commonwealth Bank Introduces Mobile Internet Banking Services II-32 NBD Unveils MoBanking II-32 Fiserv Unveils Mobile Money FastTrack II-32 MCB Unveils MCB Mobile II-33 Postbank Unveils Mobile Phone Banking Services II-33 Prudential Bank Unveils SMS Banking and Website II-33 Velcom and Priorbank to Introduce SMS- Banking Service II-33 Bangkok Bank Launches Mobile Internet Banking Service II-33 CO-OP Financial Services Launches Mobile Banking Solution II-34 Housing Finance Bank to Launch Mobile Banking Service in Rural Uganda II-34 Telesom Introduces Zad Mobile Banking in Somalia II-34 mFoundry Upgrades mBanking Suite to Include SMS and WAP Modes II-34 Emirates NBD to Collaborate with Etisalat for New Mobile Banking Service II-35 Mobilink Introduces Mobile Banking Service in Alliance with Citibank II-35 CCU Upgrades Online Banking Suite with Mobile Banking II-35 Monitise Americas Unveils Mobile Money Functionality on App Store II-35 CKI Launches Virtual Machine Mobile Banking Services in English II-36 Dubai Bank Introduces Dubai Bank Mobile Service II-36 Sybase 365 Rolls out Sybase(R) mBanking 365(TM) II-36 OCBC Bank Introduces Mobile Banking Service II-36 Harland Launches Cavion Mobile Banking Professional II-37 Barclays Bank Launches 'Hello Money' Mobile Banking Service II-37 Fiserv Unveils Premier Mobile Banking Solution II-37 SIB to Introduce Mobile Banking Services II-37 Corporation Bank & RCom to Provide Mobile Banking Service II-37 BOI to Launch Mobile Banking Solution II-38 Bank Sohar Unveils SMS Banking Service II-38 Bank of Ayudhya Unveils Krungsri SMS Banking Facility II-38 Suncorp Unveils Browser-Powered Mobile Phone Banking II-38 Bank of Sharjah and CR2 Unveil BankWorld Internet and Mobile II-38 Kinzna Unveils Mobile Banking, ATM Services II-39 SCB Unveils SCB Mobile Banking II-39 Verizon and Firethorn Unveil Mobile Banking Solutions II-39 Citibank and Indosat Introduces Mobile E-Banking Service II-39 Fidelity Releases FIS Mobile Banking and Bill Pay II-39 NAB Introduces SMS Banking Service II-40 Banco De Bogota Unveils Mobile Banking Service II-40 JSC Unveils Integrated Internet and Mobile Banking Platform II-40 UBI to Introduce Mobile Banking II-40 Banner Bank Introduces Mobile Banking Service II-40 E-Trade Unveils Mobile Banking and Brokerage Service II-40 BNB Unveils Mobile Banking Service II-41 Huntington Unveils Mobile Banking Service II-41 Wamu Releases Mobile Banking Service II-41 IBC Bank Announces Bilingual Mobile Banking Application II-41 Citibank to Launch Mobile Financial Services II-41 Cpni Upgrades PATbank Mobile Banking Platform II-42 Sprint Unveils MyMoneyManager II-42 ANZ Vietnam Unveils Mobile Banking Service in Hanoi II-42 CPNI Provides Upgraded Version of Mobile Banking Service II-42 Standard Chartered Introduces New Mobile Banking Solution II-43 ClairMail Announces ClairMail Mobile Banking Web System for iPhone II-43 Telefonica to Provide m-Banking Services Across Latin America II-43 SBI, BOI and UBI to Launch M-Banking II-43 GCB to Launch Mobile Banking Services II-43 RBC Introduces Mobile Banking Services II-43 Lloyds TSB Introduces Mobile Phone Banking Services II-44 Equity Bank Unveils Eazzy 24/7 Service II-44 BoQ to Introduce BankLink Mobile II-44 Bellco Credit Union Introduces Mobile Banking Services II-44 mFoundry Introduces iPhone Mobile Banking Solution II-44 ICICI Bank Unveils iMobile II-45 Equity Bank Unveils Benki Yangu Mkononi Service II-45 IND Group Launches New iMobile Banking II-45 CFE Unveils New Mobile Banking Solution II-45 Verizon Unveils Mobile Banking Services for Major Financial Institutions II-45 Firethorn Upgrades Mobile Banking and Payments with New Functionalities II-46 AT&T Offers Mobile Banking on iPhone in Partnership with Firethorn II-46 Vodafone Launches Vodafone Internet On Your Mobile Service II-46 VeriSign Enters Into an Alliance with Clairmail II-46 China Mobile Introduces Financial Information Services II-47 Satander Rio and Movistar Introduce Mobile Banking Solution II-47 Salem Five Bank Launches Wireless Mobile Banking Solution II-47 ING Direct Announces Mobile Banking Services II-47 Yodlee Unveils Mobile Banking Solution II-47 RBS Introduces Mobile Banking Capability II-47 Garanti Bank Introduces Mobile Banking Services II-48 IsBank Announces Mobile Banking Solution II-48 NYCE to Launch Mobile Banking and Payment Services II-48 Postilion Introduces New Postilion Mobile Solution II-48 Indian Bank Launches Mobile Banking Service II-49 Wells Fargo Introduces Mobile Text Banking II-49 Bci Introduces Mobile Banking Solution II-49 EverMobile Unveils Integrated M-Banking, M-Payment Application II-49 Industrial Savings Bank Introduces Mobile Banking II-49 Cardinal Bank Launches Free Mobile Banking Service II-50 Banrisul Introduces Mobile Banking Service II-50 Cingular Wireless to Launch Mobile Banking Service II-50 RBS Introduces Mobile Banking in Yorkshire II-50 Banco Frances Launches Mobile Banking Service II-50 Online Resources Launches Mobile Banking and Bill Payment Service II-50 Bank of America to Introduce Mobile Banking Service II-51 USAA to Offer Firethorn Mobile Banking and Payments Solution to Customers II-51 AT&T Launches Mobile Banking Application II-51 BIBD and DST to Introduce SMS Banking II-51 7. RECENT INDUSTRY ACTIVITY II-52 Wells Fargo Merges with Wachovia II-52 PSCU and FSCC to Provide Mobile Banking to Credit Unions II-52 mFoundry Introduces Comprehensive Three Mode Mobile Banking Solution II-52 Arvest and BancorpSouth Adopt Firethorn's Mobile Banking Application II-53 Fiserv and M-Com Collaborate to Develop Fiserv Mobile Money II-53 Monilink Mobile Money Service Available on Smartphones II-53 Monitise Forms Indian Subsidiary to Offer Services in India II-53 Sybase Acquires paybox Solutions II-53 Monitise Completes Acquisition of Monilink II-54 Monitise Inks JV Agreement with Made in Africa II-54 Monitise Partners with Paynet II-54 Monitise Enters into an Alliance Agreement with Visa II-55 Citibank Pakistan Enters into an Agreement with Mobilink II-55 Sevenval Forges Mobile Banking Partnership with Wincor Nixdorf II-55 VTFS Inks License Agreement with Security First Bank II-56 ICICI, TTSL Form Alliance II-56 Alliant Deploys mFoundry and PSCU Mobile Banking Solution II-56 Veridian Deploys ClairMail Powers Mobile Banking Solution II-56 NYCE to Provide Mobile Financial Service to Financial Institutions II-57 Sybase 365 Partners with C-Sam to Expand Mobile Banking Platform II-57 Monitise to Provide Mobile Banking Solutions to Five Financial Institutions II-58 ACI Offers Mobile Banking Suite in Association with mFoundry II-58 Rakuten and Tokyo Tomin Bank Set up Online Banking Branch II-58 NAB Partners Telstra to Offer Mobile Banking II-58 SK Telecom and CitiGroup Joint Venture to Offer Mobile- Banking Services II-58 Vodafone UK and Yodlee Collaborate to Provide Mobile Banking Solutions II-59 CCFCU Selects mFoundry for Mobile Banking Services II-59 Monitise and Made In Africa Form JV for Mobile Banking and Payment Services II-59 Monitise and Everlink to Offer Mobile Banking and Payment Services II-59 Monlink and UK Retail Bank Sign Contract for Mobile Banking Services II-60 BECU to Provide Mobile Banking Services II-60 Diemo Selects XIUS-bcgi Mobile Services Platform II-60 Obopay Inks Agreement with Grameen Solutions II-60 Warid Telecom Signs Agreement with BRAC Bank for SMS Banking Services II-61 Alerus Selects ClairMail to Support Launch of Mobile Banking Service II-61 SBS Inks Agreement with IDB to Advance Mobile Banking Services in Peru II-61 Axiom Partners with Vipera for Mobile Services Division II-61 PNC Selects ClairMail to Extend Mobile Banking Services II-62 NCR Agrees to Provide Mobile and Online Banking Services to Hanmi Bank II-62 Fiserv and M-Com Enter Into a Deal II-62 eCommLink and Monitise Partner for Mobile Money Services II-62 Monitise Americas Adds Extends Partnership II-62 APX Network Enters into an Agreement with QSPAN II-63 Essar Acquires Minority Stake in Obopay II-63 Citi Cards Enters into Strategic Relationship with Firethorn Holdings II-63 EverMobile Forms Alliance with RIM II-63 Intercredit Bank Deploys ClairMail Mobile Banking Solutions II-63 FIS, mFoundry and ClairMail Inks Deal to Launch Advanced m- Banking Service II-64 SSL Wireless Inks Deal with Islami Bank for Mobile Banking Solutions II-64 Celcom Selects paybox to Unveil Mobile Payments and Banking Services II-64 Celcom Selects paybox to Unveil Mobile Payments and Banking Services II-65 Amdocs and Bankinter Release Mobile Banking Services II-65 BB&T Enters into Alliance with mFoundry and ClairMail II-65 Verizon in Strategic Partnership with Firethorn II-65 Qualcomm to Acquire Firethorn Holdings II-66 Gemalto and Redeban Unveil M-Banking Service II-66 Monitise Signs Joint Venture Agreement with Metavante Corp II-66 Bharti Telesoft Signs Agreement with Barclays Bank II-66 Fidelity Inks Deal with mFoundry II-66 Claro to Sign Deal with Brazilian Bank II-66 China Unicom Partners with Industrial Bank for Mobile Banking II-67 Metavante Signs Agreement with Monitise II-67 Open Solutions Partners with MShift to Deliver Mobile Banking Solutions II-67 Western Union Collaborates with GSMA for Mobile Banking Solutions II-67 8. FOCUS ON SELECT PLAYERS II-68 I. Banks Offering Mobile Banking Services II-68 Bank of America Corp (US) II-68 Barclays Bank Plc (UK) II-68 BB & T Corp. (US) II-68 Citibank N.A (US) II-69 JPMorgan Chase & Co. (US) II-69 Lloyds TSB Bank Plc (UK) II-69 The PNC Financial Services Group, Inc. (US) II-70 Wells Fargo & Company (US) II-70 II. Companies Offering Mobile Banking Solutions II-70 ClairMail, Inc (US) II-70 Firethorn Holdings, LLC (US) II-71 Fronde Anywhere Ltd (New Zealand) II-71 Fundamo (Pty) Ltd (South Africa) II-71 Macalla Software Ltd (Ireland) II-71 mFoundry (US) II-72 MI-PAY Ltd (UK) II-72 Monitise plc (UK) II-72 Monitise Americas (US) II-73 MShift, Inc. (US) II-73 Sybase Inc. (US) II-73 9. GLOBAL MARKET PERSPECTIVE II-74 Table 3: World Recent Past, Current & Future Analysis for Mobile Banking by Geographic Region - US, Canada, Europe, Asia-Pacific, and Rest of World Markets Independently Analyzed with Number of Users in Millions for Years 2006 through 2015 (includes corresponding Graph/Chart) II-74 Table 4: World 11-Year Perspective for Mobile Banking by Geographic Region - Percentage Share Breakdown of Number of Users for US, Canada, Europe, Asia-Pacific, and Rest of World for 2006, 2009 & 2015 (includes corresponding Graph/Chart) II-75 III. MARKET 1. THE UNITED STATES III-1 A.Market Analysis III-1 Outlook III-1 Mobile Banking Market - An Overview III-1 Mobile Banking Market - At a Glance III-2 Growth Drivers and Market Restraints III-2 Factors Driving Growth in Mobile Banking Sector III-2 Factors Restraining Growth of Mobile Banking III-3 Mobile Banking - Trends to Watch Out III-3 Mobile Banking Proving Successful in Second Innings III-3 Recession Fuels Demand for Mobile Banking Services III-4 Gen Y - A Key Demographic Segment III-4 Text Messaging Services Gain Popularity III-4 SMS - Preferred Form of Mobile Banking III-4 Device Characteristics to Drive Mobile Phone Adoption III-5 Mobile Banking Draws Major Tech Enterprises III-5 Lack of Initiatives Hampers Growth of Mobile Banking III-5 Mobile Banking Delivery Channels - Potential Growth Opportunities III-6 Comparative Analysis of Various Mobile Banking Delivery Channels III-6 Short Messaging Service (SMS) Banking III-6 Mobile Web III-6 Mobile Client Applications III-6 SMS with Mobile Web (SMS with WAP Push) III-7 Secure SMS III-7 Competitive Landscape III-7 Table 5: Leading Players in the US Mobile Banking Market (2008): Percentage Share Breakdown of Number of Customers for Bank of America, JPMorgan Chase & Co., Wells Fargo & Co., Citigroup Inc., BB&T Corp., PNC Financial Services, and Others (includes corresponding Graph/Chart) III-7 Product/Service Launches III-8 Strategic Corporate Developments III-17 Key Players III-25 Bank of America Corp III-25 BB & T Corp. III-25 Citibank N.A III-25 JPMorgan Chase & Co. III-26 ClairMail, Inc III-26 Firethorn Holdings, LLC III-26 mFoundry III-27 Monitise Americas III-27 MShift, Inc. III-27 Sybase Inc. III-28 The PNC Financial Services Group, Inc. III-28 Wells Fargo & Company III-28 B.Market Analytics III-29 Table 6: US Recent Past, Current & Future Analysis for Mobile Banking Analyzed with Number of Users in Millions for Years 2006 through 2015 (includes corresponding Graph/Chart) III-29 2. CANADA III-30 A.Market Analysis III-30 Outlook III-30 Smartphones to Boost Mobile Banking III-30 Barriers to Mobile Banking III-30 Future Trends in Mobile Banking III-30 Product/Service Launches III-31 Strategic Corporate Developments III-31 B.Market Analytics III-32 Table 7: Canadian Recent Past, Current & Future Analysis for Mobile Banking Analyzed with Number of Users in Millions for Years 2006 through 2015 (includes corresponding Graph/Chart) III-32 3. EUROPE III-33 A.Market Analysis III-33 Outlook III-33 Mobile Financial Services in the EU III-33 Status of Mobile Banking Services in the EU III-33 Mobile Banking Set to Witness Rapid Growth III-34 Table 8: Penetration (%) of Internet Banking & Mobile Banking in Select European Countries (2010) (includes corresponding Graph/Chart) III-34 The United Kingdom III-35 Overview III-35 Mobile Banking to Move Beyond Text Alerts III-35 Advanced Technologies, Devices & Features to Boost Prospects III-35 Economic Downturn Propels Mobile Banking Usage III-35 Government to Promote Mobile Banking Solutions in Developing Countries III-36 Product/Service Launches III-36 Strategic Corporate Developments III-39 Key Players III-41 Barclays Bank Plc (UK) III-41 Lloyds TSB Bank Plc (UK) III-42 Macalla Software Ltd (Ireland) III-42 MI-PAY Ltd (UK) III-42 Mobipay Spain, SA (Spain) III-42 Monitise plc (UK) III-43 B.Market Analytics III-43 Table 9: European Recent Past, Current & Future Analysis for Mobile Banking Analyzed with Number of Users in Millions for Years 2006 through 2015 (includes corresponding Graph/Chart) III-43 4. ASIA-PACIFIC III-44 A.Market Analysis III-44 Outlook III-44 Mobile Banking in Select Regional Markets III-44 China III-44 India III-44 Mobile Banking Set for Rapid Growth III-44 Banks Shift Focus to Rural Areas III-45 RBI Guidelines Boost Mobile Banking Sector III-45 Limited Success of Alternate Channels Boost Prospects III-46 Mobile Banking Fails to Enthuse Urban Mobile Users III-46 Challenges Facing Mobile Banking in India III-46 Pakistan III-47 South Korea III-47 The Philippines III-48 Product/Services Launches III-48 Strategic Corporate Developments III-54 Key Players III-56 Agricultural Bank of China (China) III-56 Fronde Anywhere Ltd (New Zealand) III-56 Industrial & Commercial Bank of China Limited (China) III-57 B.Market Analytics III-57 Table 10: Asia-Pacific Recent Past, Current & Future Analysis for Mobile Banking Analyzed with Number of Users in Millions for Years 2006 through 2015 (includes corresponding Graph/Chart) III-57 5. REST OF WORLD III-58 A.Market Analysis III-58 Outlook III-58 Mobile Banking in Latin America - Overview III-58 Table 11: Penetration (%) of Bank Accounts and Adult Mobile Phone Users in Latin America (includes corresponding Graph/Chart) III-58 Mobile Banking - A Small Yet High Potential Market III-59 Colombia - Growing Popularity of Mobile Banking III-59 Mobile Phone Banking in Africa - An Insight III-59 Kenya III-60 Nigeria III-61 South Africa III-61 Product/Services Launches III-61 Strategic Corporate Developments III-65 Key Players III-68 Fundamo (Pty) Ltd (South Africa) III-68 B.Market Analytics III-68 Table 12: Rest of World Recent Past, Current & Future Analysis for Mobile Banking Analyzed with Number of Users in Millions for Years 2006 through 2015 (includes corresponding Graph/Chart) III-68 IV. COMPETITIVE LANDSCAPE Total Companies Profiled: 84 (including Divisions/Subsidiaries - 85) Region/Country Players The United States 10 Canada 2 Japan 3 Europe 8 Germany 1 The United Kingdom 5 Rest of Europe 2 Asia-Pacific (Excluding Japan) 52 Latin America 1 Africa 3 Middle-East 6 To order this report: Banking Industry: Global Mobile Banking Industry More Market Research Report Check our Company Profile, SWOT and Revenue Analysis! Nicolas Bombourg Reportlinker Email: nbo@reportlinker.com US: (805)652-2626 Intl: +1 805-652-2626 SOURCE Reportlinker

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Top Online Banking Threats to Financial Service ... - Bank Info Security

Posted: 13 Mar 2010 01:46 AM PST

Securing a financial services network environment can be a daunting challenge. At issue is not only meeting the basic business requirement of ensuring that a customer's financial information remains private and secure, but to do so in accordance with the variety of regulations that have been implemented by state and federal governments, and the credit card industry as well. Security breaches can have a far-reaching impact to not only a company's finances, but to their reputation as well. Companies are required to prove their compliance with these regulations and will be held liable for their failure to do so. Offering a wider range of online services alone will not be sufficient to reduce customer churn; it must be accompanied by enhanced security features that provide the customer with confidence and, in turn, results in winning their long-term trust and loyalty.

It is, therefore, essential that financial services providers take a proactive approach to identifying potential cyber attack threats and the areas of vulnerability within their own infrastructure. To aid in this process, this paper will provide insight into the top five threats to the financial services industry and SafeNet's recommended solutions for a defense that not only provides a secure transaction environment for customers but also satisfies stringent government and industry compliance regulations.

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S'pore bank sees mobile users doubling - Zd Net Asia.com

Posted: 11 Mar 2010 11:38 PM PST

update SINGAPORE--The Oversea-Chinese Banking Corporation Bank (OCBC) says its mobile banking user base has doubled every year since it launched the service in 2006.

Patrick Chew, head of delivery for consumer financial services at OCBC, said in a press briefing here Friday that mobile banking is moving from its early-adopter base to the mainstream audience.

Transaction volumes have also doubled each year, reflecting increased trust in the security of mobile banking services, said Chew.

He could not specify how many customers were using OCBC's mobile services, but noted that the figure has reached 30 percent of its Internet banking customer base.

The rate of adoption for mobile banking is taking a faster upswing, compared to that of automated teller machines (ATMs) in the 1980s, and Internet banking in the 1990s, he noted.

Chew also said the majority of the bank's mobile users are between the ages of 25 and 45, with 70 percent of them transacting on their phones at least once every two weeks, or more frequently.

While early users turned to mobile banking primarily to perform passive tasks such as checking their bank balances, more users now perform transactions over their phones, including making bills payments, he said. He added that the volume of bill payments has quadrupled each month over the past year.

"More users are managing their cash through their phones, beyond just monitoring bank balances," he said.

In an e-mailed response to ZDNet Asia, Sandeep Lal, managing director and head of consumer e-business at local bank, DBS Bank, said: "We are in an advanced stage of implementing our mBanking [mobile banking] service in Singapore and we intend to lead in the space, too."

Lal added that DBS has an Internet banking customer base covering 1.35 million users.

Citibank launched its mobile service, called Citi Mobile, in Hong Kong toward the end of 2008. It extended this service to Singapore in August last year.

The iPhone touch
Chew also emphasized the impact of the Apple iPhone on the bank's increased mobile banking traffic.

He noted a 10 to 20 percent rise in usage among OCBC customers after SingTel brought the device to Singapore, followed by a similar spike when competing telcos, StarHub and MobileOne, also began offering the iPhone.

While OCBC has made mobile banking available via a Java applet since 2006, the arrival of more smartphones and generous data bundles have helped push mobile banking up, he said.

He added that early banking through mobile phones involved a slower process because of lower data speeds, and faced barriers such as expensive cellular data costs and the need for users to manually configure some phone models to get online. Today, most phones are configured to get online out of the box, said Chew.

In addition, OCBC is eyeing the slate space to continue the ramp up of mobile banking services, he said. Chew's team has plans to import a few sets of the Apple iPad once the product debuts next month, so the bank can perform tests on the device.

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Benguet farmers’ stock-in-trade gets upgrade - Global Nation

Posted: 13 Mar 2010 08:26 AM PST

BAGUIO CITY – Bernard Ugalde, a professor and head of the computer science department of the University of Baguio (UB), plays Farmville, an online game shared by members of social networking site, Facebook.

Much like SimCity, the game allows players to build a thriving economy out of their simulated farms.

But what struck Ugalde most about the game were the smiling avatars, which grow the imaginary vegetables and fruits.

"Playing Farmville involves the basics of planting and harvesting," he says, "but the game shows how the farmers benefit from their products."

Ugalde says it's the farmer (avatar) who manages his resources and benefits from the crops.

The game led a team of UB teachers and students to develop a website that would soon allow farmers of La Trinidad, Benguet, to trade vegetables online.

The website, mAgri-Kalakal, takes advantage of the fact that farmers today have access to mobile phones, Ugalde says during the 3rd Information and Communication Technology Research Congress at the Saint Louis University here on Wednesday.

Farmers may use the short messaging system (SMS) feature on their cellular phones to send text messages to the website detailing the prices of goods, which they harvested fresh from the fields.

The website then allows traders to bid for these vegetables, enabling them to complete the transaction without the intervention of middlemen, Ugalde says.

"As the website shows the [real] price of the goods [at a given moment], buyers could bid and then pay the farmers using Smart Money [a mobile banking service offered by Smart Telecommunications] … without the intervention of middlemen," he says.

The website was designed by Julius Baniaga, a UB graduating computer science student, based on his undergraduate thesis in August 2009.

Ugalde says he and the others have presented the web design to the La Trinidad government and the Department of Trade and Industry last year, and received their endorsement.

But the undertaking is a private enterprise, he says. "Mobile computing seems very promising, so we thought of coming up with a solution that could benefit the farmers," he says.

Ugalde says the system works well for La Trinidad cooperatives, and the online trading mechanism was designed to suit the farming and harvesting cycle of the farmers there.

La Trinidad supplies most of Metro Manila's vegetable supply.

Dominador Dongla Jr, president of FARMERS.NET, a local farm marketing consultancy group, says the online trading project fulfills an idea that the Department of Agriculture tried to accomplish in the 1990s.

Dongla used to work for the La Trinidad trading post, where traders haggle for vegetables each morning before taking supplies to Metro Manila.

"The DA marketing experts thought of using the Internet, but only to provide data about prices. No one thought of trading online until now," he says.

The system will change the way vegetables are shipped to Metro Manila because it now makes the farmers responsible for shipping down their produce, he says.

"But it's an idea Benguet farmers would embrace," he says.

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