What We’re Reading: Tweens & Mobile Banking, the Olympics and Money Experts on Twitter
Below are interesting stories the Banking.com staff has been reading over the past week. What have you been reading? Let us know in the comments section below or Tweet @bankingdotcom.
- Mobile Banking Advocates Open North American Unit
Mobey Forum, a bank-led nonprofit focused on increasing the use of mobile financial services, has launched a North American division. Mobey Forum North America will bring together experts in the industry to resolve issues affecting mobile financial services, the group said Monday. Members will include representatives from American Express (AXP), Bank of America (BAC), Capital One Financial (COF), CIBC (CM), MasterCard (MA), TD Bank Group (TD), U.S. Bancorp (USB) and Visa (NYSE:V). Established in 2000, Mobey Forum works with financial institutions, mobile network operators, mobile handset manufacturers and payment processors and vendors to increase the use of mobile financial services.
- 15 Money Experts Everyone Should Follow On Twitter
Who doesn’t get their news and information from Twitter these days? At @BIYourMoney, it’s practically a requirement to stay in the loop. Knowing who to follow isn’t as easy, so we’ve compiled a handy list of the best money experts on the Web who tweet. Our criteria: These people and sites are respected in their field—be it credit, housing, or retirement—tweet often, and have developed a following on Twitter, thanks to their razor-sharp insight.
- Payments and the London Olympics
There has been an increased interest from our clients and press in the Olympics-related payments topics as well. Is Visa right in monopolising payments for the Olympics? Will all those who receive Samsung Galaxy S III NFC phones to try out new NFC payments be aware of the potential security risks? And why were the ambitious plans to upgrade the London transport infrastructure to accept NFC delayed?
- Mobility Matters: Tracking the Mobile Banking Revolution in Credit Unions
Get the headline news: mobile banking is not simply a new channel, it is a game changer – and without it, many institutions can expect to perish. “Mobile puts the bank terminal with the user. We have never before had that kind of computing power,” said Wade Arnold, CEO of Banno (formerly T8 Webware). David Albertazzi, an analyst with the Aite Group, pointedly added: ”Mobile banking is not online banking lite. It is a unique channel with its own features.
- Where Banking Meets Tech: Why Businesses Must Adapt, Or Else
If your business isn’t relevant, is it outdated, and virtually obsolete? There should be no grey area when it comes to relevance. In my recent review of Brett King’s book, “Branch Today, Gone Tomorrow,” Frank Sorrentino of Forbes discusses how important it is for banks to stay relevant in order to survive. Today, we are seeing a shift in consumer behavior that requires companies to work harder to matter more.
- Mobile banking and tweens
Tweens – there are nearly 5 million of them in Britain alone. Aged between 10 and 16, they play a significant role in most family financial decisions. They directly influence up to $155 billion in spending annually, and have access to the Internet, money and smartphones. With the advent of new technology and greater freedom from parents, they are ready and willing to spend online.