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Smaller banks and credit unions face broadening mobile banking gap

02/14/2012 L. Green

The most recent report issued by Javelin Strategy & Research has identified a broadening gap between the adoption rates of mobile banking at smaller banks and credit unions, and that experienced by much larger banks and financial institutions. The data from the research firm showed that among regional and community banks, only 21 percent of consumers are adopting mobile banking. Similarly, only 15 percent of consumers are using mobile banking at credit unions. Comparatively, 37 percent of the customers of very large financial institutions are adopting the behavior. Banking using…

Commonwealth Bank adopts NFC technology with new iPhone app

10/28/201110/28/2011 QR Code Press

Australia’s Commonwealth Bank, a multinational financial institution, has announced a new iPhone app that will make use of NFC technology. The bank is looking to mimic the relative success other companies have had with so called mobile wallets – smart phones that can be used to make purchases. The bank’s adoption of the technology heralds the dawning of a new era in Australia, and other countries, that may see smart phones replacing debit cards or cash. It may be difficult to win over consumers, however, as many are still unfamiliar…