Tuesday, March 1, 2016

PayPal pairs with telecom giants to grow in Europe and Latin America

(Bloomberg)—PayPal Holdings Inc. forged new mobile-wallet agreements with telecommunications giants Vodafone Group Plc in Europe and America Movil SAB in Latin America, highlighting a key growth strategy for the digital-payments company after its separation from online marketplace eBay Inc.

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Friday, February 26, 2016

Rick Genest named President of Hispanic Market Insurance Provider, Premier Insurance Services, in California

NEWS: (SAN FRANCISCO, Calif.) Protector Holdings, LLC, a joint venture of EPIC (Edgewood Partners Insurance Center) and Dowling Capital Partners, announced today that Rick Genest has joined Premier Insurance Services as the company’s President. Premier Insurance Services, acquired by Protector Holdings in 2013, targets the growing Hispanic Community in California and the West, providing a wide range of insurance products and services specifically tailored to the cultural preferences of Latino consumers.

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Monday, February 8, 2016

What’s Next In Mobile Banking? Industry Experts Weigh In

How much do Main Street Americans love their mobile phones? A lot, it seems. 

A new study from Bain & Company on consumer banking trends makes an illustrative point on the topic of people, their cell phones and their own financial lives. According to the study, 50% of Americans surveyed say they would rather lose their wallet than their mobile phone. That number rises to 79% in China and South Korea, Bain adds. 

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Thursday, January 28, 2016

Mobile Banking’s Impact on Revenues and Attrition Is Astounding

Though increasing adoption rates seem to have settled the question of demand for mobile banking services, the ROI of mobile banking has proved more elusive. Mobile banking, which may not be perceived to produce direct revenue, must be evaluated by indirect results. Accordingly, Fiserv in conjunction with Raddon Financial Group studied mobile banking users, online users, and branch-only users, and compared their product usage, transaction frequency, attrition rates, and revenue generation.

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Monday, December 28, 2015

Can US Retail Banks Survive The Mobile Revolution?

What would you miss more for a day, your wallet or your mobile phone? Some 54% of US consumers who Bain & Company surveyed recently chose the phone, and in China and South Korea, that share rose to more than 75%. It’s just one marker of how mobile has evolved from being a separate banking channel to becoming the hub of personal finance.

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Monday, December 21, 2015

Mobile Banking Users Warned Over Fake Android Apps

Researchers at security firm FireEye have uncovered a family of malicious apps which they say are looking to imitate some of the world’s leading banking apps in order to steal personal details from customers.

The so-called ‘SlemBunk’ family looks to imitate the legitimate apps of 33 financial management institutions and service providers across the globe, particularly in North America, Europe, and the Asia Pacific region.

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Saturday, December 12, 2015

Marketers, You're Doing Mobile Wrong: Six Steps for Doing It Right

From Google's Mobilegeddon to Facebook's Hello, the tech giants have made one thing clear to brands: If you're not prioritizing mobile, you're falling behind.

Today, there are 2.8 billion Internet users; meanwhile, mobile phone users have reached 5.2 billion—an impressive 73% of the world's population.

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Saturday, December 5, 2015

A third of businesses use mobile banking to make payments

Not only does every other top manager make payments from corporate accounts via mobile banking, but it was also discovered that over 30 percent of companies use mobile devices to access corporate bank accounts and to make financial transactions.

Those are the result of a recent joint survey conducted by Kaspersky Lab and B2B International.

The survey concluded that business representatives were increasingly making financial transactions with the help of mobile devices. In particular, 28 percent of small and medium companies, and 34 percent of enterprises, conducted financial transactions via mobile devices.

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Sunday, November 29, 2015

For the future of banking, it's all about the apps

Banking is becoming increasingly less personal, and customers seem to like it that way.

At a time when bank branches are disappearing by the hundreds, many folks don't seem to care. In fact, an expansive survey shows that when it comes to the banking experience, institutions are far better off concentrating on creating great mobile experiences than on upgrading their physical locations.

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Sunday, November 22, 2015

Study: Hispanics omnichannel users of banking services

Hispanic consumers are omnichannel banking customers, according to "Financial Services and Hispanic Consumers," a survey by Synergistics Research.

Asked to identify the method they most prefer for financial activities, Hispanic consumers gave a fragmented response: one-third reported a preference for PC online banking, followed by mobile banking and ATMs in second and third place.

Among the general U.S. population, the No. 1 channel is online banking, followed by mobile banking and the branch in second and third place, and ATMs in fourth place

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Wednesday, November 11, 2015

Is Latino use of mobile banking an opportunity or exaggeration?

U.S. Hispanics’ current spending power is estimated to be roughly $1.4 trillion, so it’s no surprise that they represent a significant market opportunity for businesses, credit unions included.  These numbers prompted Nielsen to conduct research in the beginning half of 2015 to uncover what marketing products, services and themes resonate the most among U.S.’s Latino population.  What they found is significant for credit unions: Mobile Banking apps and mobile payment services have exploded among this segment of our population.

In fact, Nielsen analyzed the top 10 Spanish language ads among Hispanics in the U.S. from earlier this year and found that 3 of the top 10 ads featured mobile banking and payments.  According to the findings, “U.S. Hispanic mobile subscribers are highly engaged in mobile banking and shopping activities. Forty-one percent of U.S. Hispanics are mobile bankers, vs. 36% non-Hispanic. Hispanics are also heavy users of digital platforms and quick adopters of new technology. And as a result, they’re more likely to shop using their mobile devices (36% vs. 32% non-Hispanics).”

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Friday, October 30, 2015

Is Latino use of mobile banking an opportunity or exaggeration?

U.S. Hispanics’ current spending power is estimated to be roughly $1.4 trillion, so it’s no surprise that they represent a significant market opportunity for businesses, credit unions included.  These numbers prompted Nielsen to conduct research in the beginning half of 2015 to uncover what marketing products, services and themes resonate the most among U.S.’s Latino population.  What they found is significant for credit unions: Mobile Banking apps and mobile payment services have exploded among this segment of our population.

In fact, Nielsen analyzed the top 10 Spanish language ads among Hispanics in the U.S. from earlier this year and found that 3 of the top 10 ads featured mobile banking and payments.  According to the findings, “U.S. Hispanic mobile subscribers are highly engaged in mobile banking and shopping activities. Forty-one percent of U.S. Hispanics are mobile bankers, vs. 36% non-Hispanic. Hispanics are also heavy users of digital platforms and quick adopters of new technology. And as a result, they’re more likely to shop using their mobile devices (36% vs. 32% non-Hispanics).”

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Monday, September 14, 2015

Digital Wallets, 3D Printing, Mobile Banking Just the Beginning


Our world today faces more pressing challenges to sustainable development than ever in the history of humankind. The sheer number of people on the planet requiring access to food, clean water and sanitation, combined with the increased number of urban citizens, exacerbated by the effects of climate change, can be mind-boggling.

Building an inclusive and sustainable knowledge-based society is one of the most important aspirations of the global community. Information and Communication Technology (ICT) will be essential in achieving the Sustainable Development Goals (SDGs), committed to by all world leaders in addressing social, economic and environmental priorities beyond 2015, and might even help to support an accelerated path toward their achievement.

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Sunday, June 28, 2015

Everybody Deserves Access to Mobile Banking

Mobile banking might be an integral part of your day to day life, but there are a lot of people in the US that the Miami based Waleteros would classify as ‘underbanked’. These are people who don’t use or have a bank account and could benefit from using their smartphone as a banking solution.

According to Waleteros, Hispanics represent a disproportionate percentage of this group of underbanked US citizens. Traditionally, in order to meet their financial needs underbanked individuals will go to check cashing stores where they have to pay hefty fees to manage their finances.

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Monday, June 22, 2015

‘Hi, your bank here. Need cheap suncream?’ Welcome to the future of mobile apps

You walk past your favourite clothing retailer. You’ve not bought anything for a while, so your mobile phone flashes offering you a discount on the type of things you usually buy.

You receive an alert from your bank saying your water bill has shot up and you should check for a leak. Another arrives saying you are paying 20% more for broadband than your neighbours. But don’t worry – your bank has already switched your provider.

These are the kinds of services on offer from the next generation of mobile banking apps, claim experts. Banks are poised to tap into the vast amount of detail they have on our spending patterns to become “more of a lifestyle partner, a bit like a concierge service for smartphone users”, says Alistair Crane, chief sales officer at mobile banking technology firm Monitise. “Banks know a lot about you, such as how much and when you get paid, what your credit limit is and where you’re spending your money, and they will use this to provide a more personal service.”

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Wednesday, June 10, 2015

Consumers Now Prefer Mobile Banking over Branch Banking

The banking system in America has officially reached a turning point. According to a new report from Javelin Strategy & Research, more consumers prefer mobile banking over branch banking. Mobile banking is now the second leading way people access their checking account, second only to online banking.

The study shows that 23% of consumers choose to use their smartphones as a primary access point for their checking accounts, compared to 17% who still prefer to visit the branch. 39% of those surveyed prefer online banking.

The report, titled The Rise of the Mobile First Consumer--and What that Means for Banking, discusses how mobile banking has transformed the way people monitor and control their finances. It describes the rising generation of "mobile-first" consumers, or those who choose to use their phones before visiting a branch or logging in to their checking account.

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Monday, June 1, 2015

Carriers should partner with banks on mobile financial services

CANCUN, Mexico – To make mobile financial services succeed requires a win-win partnership between banks and mobile network operators, because assets from each one are needed.

On one side, banks contribute with regulatory compliance, an existing financial network and infrastructure and strong recognition, while mobile network operators deliver wide distribution networks, mobile network infrastructure and a customer base.

The growth of mobile financial services will come as finance, retail and communications converge.

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Monday, May 25, 2015

Banking on new ideas

Mary Bell’s introduction to banking began long before the debut of a little thing called the Internet.

“I can remember when ATMs were the cool thing,” she said.

Now, online accounts and cellphone apps allow customers to do their banking any time from anywhere. Customers can use a cellphone to deposit a birthday check from Grandma or pay for a grande latte.

Bell, who is Wells Fargo’s regional president for Indiana and Ohio, has seen numerous technical revolutions during her 30-year career in banking.

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Thursday, December 18, 2014

Banks shift to high-tech branches: More efficient spaces aim to meet customer demand

As consumers shift their preferences to online banking transactions, regional and national banks alike are adapting their services to meet customers' needs.

Several banks have opened or are planning new branches in the Milwaukee market that are more high-tech and more efficient than the traditional model, a reversal of the trend toward brick-and-mortar branch closures in recent years.

PNC Bank today opened its teller-less “branch of the future” at 16th Street and National Avenue. Associated Bank has recently replaced several of its area legacy branches and plans to open a high-tech branch in Milwaukee's Historic Third Ward in the spring.

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Monday, November 10, 2014

Banking the unbanked: The mobile money revolution

(CNN) -- The use of mobile phones to transfer money, make payments and access financial services has revolutionized the lives of millions of people who have never had access to traditional banking services.

Particularly in emerging markets, "mobile money" means so much more than just a digital way to transact financial services.

In some countries, the majority of the population lives outside of urban centers without easy access to infrastructure like transport, electricity and even roads, let alone banking. For these communities, where literacy levels tend to be lower and incomes sporadic, mobile money is truly transforming the socio-economic landscape

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Monday, November 3, 2014

FDIC: Fewer “unbanked” households in San Antonio

While fewer families in San Antonio are living without checking or savings accounts than two years ago, a new report from the Federal Deposit Insurance Corp. revealed a larger share of area households still use alternative financial services, such as payday lenders, check-cashing centers and pawnshops.

The FDIC, in a report released last week, found that the rate of “unbanked” households in San Antonio fell sharply from 15.5 percent in 2011 to 8.1 percent last year.

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Friday, October 10, 2014

Happy Bankers, Mobile Bankers

A comprehensive survey of U.S. banking consumers from FICO found that 82% of mobile banking app users are satisfied with their bank, compared with only 71% among those who do not use a mobile banking app. Furthermore, 76% of mobile app users say they are likely to recommend their bank vs. only 67% of the non-users.

The survey also found large generational differences in the way people interact with their financial institutions that could have implications for both bank and credit union marketers. Specifically, 63% of Millennials, aged 25-34, said they use mobile banking applications. That percentage fell to 54% for those aged 35-49. Among people aged 50 or older, just 36% said they used their banks’ mobile apps.

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Friday, October 3, 2014

The Future Of Mobile And Online Banking

Since the early days of the internet, retail banks have feared the day when customers would turn away from traditional brick-and-mortar bank branches. With the rise of mobile banking, it's definitely starting to happen. 

BI Intelligence finds that even banks' desktop websites are seeing a loss in use, as smartphone apps become personal finance hubs. Young consumers are also increasingly looking to tech companies for financial services. We've created these slides to preview our report on how digital banking is changing in the mobile era. We hope you enjoy it.

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Monday, September 29, 2014

Citibank Launches New Mobile Only Bank Accounts

Slowly but surely the ability to set up automatic withdrawal, and process payments via digital bill pay has caught up to and far surpassed the convenience of paying with paper checks. Even many renters are now able to pay their rent electronically.

The increasing popularity of online and mobile banking has prompted Citibank to launch a new type of bank account called Access. Access is designed to appeal to the 20% of Millennials who don’t even have a checkbook.

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Wednesday, September 24, 2014

Wal-Mart Really Wants To Be Your Bank, Retailer Launches Mobile Checking Account

Wednesday Wal-Mart and prepaid card provider Green Dot launched GoBank, a mobile-first checking account that aims to serve the nation’s under-banked.

“GoBank is breaking down the barriers to traditional banking and brings the benefits of a FDIC-insured checking account that’s loaded with features to a large segment of Americans,” said Green Dot CEO Steve Streit in a statement. The accounts will have no minimum balance, no overdraft fees will be charged and account holders will gain access to 42,000 free ATMs.

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Friday, September 19, 2014

Apple Banking On The IPhone 6 To Be A Plus with U.S. Hispanics

In true Apple fashion, the iPhone 6 and iPhone 6 Plus were announced to much fanfare on Tuesday. The latest iPhones are not only larger, but packed with features that put the new offering from Apple on par with the latest smartphones on the market.

The launch of the new iPhone is critical for Apple, which derives the majority of its profits from iPhone sales. Once the clear leader in the smartphone market, Apple has seen Google’s Android capture the top spot. According to July 2014 data from comScore, Android leads the smartphone OS market with 51.5% followed by Apple at 42.5%. In our work, we have also seen Apple’s mobile share decline with fewer website visitors coming from iPhones.

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Tuesday, September 16, 2014

Growing Demand for Mobile Banking Hurts Small Institutions

The perception for many young consumers is that the national banks offer the best mobile banking services. Is it just a coincidence that young consumers on FindABetterBank.com are more likely to select a national bank over a community banks or credit union? Not likely. If national banks’ grip on branch-share dominance wasn’t already tight enough, the strength of their digital channels enables them to expand into new markets without big investments in new branches.

In a recent BankChoice Monitor survey of consumers shopping for new checking accounts on FindABetterBank.com, 36% of shoppers say they must have mobile banking with their next checking account — shoppers under 30 are more than twice as likely to require mobile banking compared with shoppers over age 60 or older. On FindABetterBank, shoppers 50 or older are the most likely shoppers to select small institutions and shoppers under 30 are more likely to select national banks.

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Tuesday, September 9, 2014

Why giving mobile apps banking info isn't as risky as it seems

Data is compromised so frequently these days that it seems like nothing is safe anymore. So one would be forgiven for thinking that using apps that require the user to voluntarily submit payment card information in order to function -- think Venmo, Uber, etc. -- would be a risky play. The reality, however, is that these kinds of apps are actually no more risky than any other transaction involving payment cards.

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Saturday, September 6, 2014

Many area Hispanics face cost of being 'unbanked'

Benito first came to the United States 22 years ago to pick crops on a tourist visa.

After the visa expired, he stayed here, working two jobs and raising a family in Austin, cashing his paychecks at a check-cashing store and avoiding banks.

"Going into the store was easy to get money in cash," said Benito, speaking in Spanish through a translator. "Going into the bank was complicated."

Read the full article

Wednesday, September 3, 2014

Ecuador Plans World's First Government-Issued Digital Currency

QUITO, ECUADOR (AP) –  Ecuador is planning to create the world's first government-issued digital currency, which some analysts believe could be a first step toward abandoning the country's existing currency, the U.S. dollar, which the government cannot control.

The virtual currency, which Central Bank officials say they expect will start circulating in December, does not yet have a name. Officials would not disclose technical details of the strictly digital currency, which they said would not be like Bitcoin. The amount of the new currency created would depend on demand.

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Tuesday, September 2, 2014

How to Keep Fraud Threats From Ruining Your Mobile Banking

NEW YORK (TheStreet) — With 28% of U.S. adults using their smartphones and tablets to conduct banking transactions and 60% calling access to mobile banking either "important" or "very important" in choosing banks, according to AlixPartners, there's a growing risk of consumer financial fraud.

AlixPartners, a San Jose, Calif., consulting firm, reports that two recent malware threats called Sypeng and HijackRAT have caught the attention of the banking industry, leading financial institutions to tighten up on data security. (Malware, or "malicious" software, is a software-based cyber threat that can damage or disable computers and mobile devices via viruses or spyware.)

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Banking by smartphone can hang up your money

Using a mobile banking app will eliminate a trip to the branch or ATM, but it could dramatically slow down the process. At some financial institutions, mobile deposit can delay access to those funds by a week or more.

"That's ridiculous and really inconvenient," said Jeff Blyskal, senior editor at Consumer Reports. "These days, people need their money as quickly as possible in order to make ends meet." (Read the magazine's story, Pros and Cons of Mobile Check Deposits.)

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Monday, September 1, 2014

Local companies expand mobile banking apps

OGDEN — With a swipe of a finger or a press of a stylus, thousands of people are interacting with Utah financial institutions through mobile apps.

The services available through a smartphone or a tablet go beyond reviewing an account balance or transferring from savings to checking; mobile banking users can pay their light bills, apply for loans or pay back friends for that $20 they lent them.

Mobile banking services will not be limited to personal accounts, either. Businesses will be able to control payroll and wire approvals through smartphones.

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Wednesday, November 23, 2011

Marketing to Latinos Banking and Finance Conference Program

PROGRAM

8:00 AM to 8:30AM

Conference Presentation and special presentation


Welcoming remarks by:
Carlos Vassallo, CEO, LatinVision Media, Rebecca Vargas, Head of Hispanic Market, JP Morgan Chase and Martee Saldaña Pierson, Director of Diversity Programs, Liberty Tax Service

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