Mobile banking services Archives

Mobile banking services help young people save their money

05/16/201605/14/2016 Julie Campbell

A new Halifax Savings survey has shown that 18 to 24 year olds find it easier to save using digital tools. New research has revealed that four out of every five young adults find that online and mobile banking services are helping them to increase their balances and save their money in an effective way. The research also discovered that what is true for younger consumers is not the same for older ones. Among people between the ages of 18 and 24 years of age, 81 percent using their bank’s…

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…

Oracle unveils its multi-channel solution called FLEXCUBE for financial services industry

02/11/201202/10/2012 Sam Lambert

Oracle Financial Services has announced the introduction of its FLEXCUBE multi-channel banking solutions which will help financial services organizations to provide their customers with increased personalization to their services through mobile and direct channels. The product is called the Oracle FLEXCUBE Multi-Channel Solution, and it provides new versions of previous product for direct and private banking. This will give banks the ability to offer products and services such as those based on complete portfolio views, over a multitude of different direct channels, including mobile. Through the use of this solution,…

Mobile banking adoption may face delays due to fees from some banks

12/10/201112/10/2011 John Montgallo

Many banks are turning their heads toward the mobile banking environment in order to implement fees for mobile services that will make up for the lost revenues that the financial institutions have faced from the consumer protection regulations that have just been put into effect. Banks have embraced mobile services with open arms due to its cost effectiveness, regardless of the fact that the consumer adoption rates remain limited. That said, as a number of banks are reportedly thinking about adding significant fees – for example, a remote deposit capture…

Report shows mobile payments open consumers to fraud risk

07/01/2011 Jennifer Goula

According to study results from Gartner research company, Neural Technologies, and others, mobile payments will expose consumers to a significant risk of fraud. That said, mobile payment remains among the most rapidly growing and exciting new technological developments, and it is expected to take off in the very near future. In fact, according to the predictions of Gartner, by 2014, the worldwide value of mobile payment services will be $245 billion. However, along with the growth of the use of the service, the risk of fraud will also rise. It…