A bank will give you entertainment through its banking app — Finanteq — “Today the bank officially launched a new functionality in its mobile banking application — Cultural Events. From now on, if customers would like to go to a concert, cabaret show, theatrical performance or festival all they have to do is open the application and buy a ticket for the selected event. The funds for the payment are transferred directly from customer’s current account.”
Mobile banking
Japanese banks to pilot blockchain-based mobile payments service
Fujitsu to conduct blockchain field trial of money transfer service with three major Japanese banks — Fujitsu — “Fujitsu will develop a cloud-based blockchain platform for money transfers between individuals that can be jointly used by these three major banks, as well as a smartphone application that allows users to easily handle the different steps for sending money and for making deposits and withdrawals.”
Wells Fargo adds NFC cash withdrawals at 5,000 ATMs
More than 5,000 Wells Fargo ATMs launch NFC-enabled mobile wallet capability — Wells Fargo — “A customer can initiate an ATM transaction by signing into leading mobile wallet features, such as Wells Fargo Wallet for Android, Apple Pay, Android Pay or Samsung Pay, found on mobile phones. They simply hold their phone or wearable device with mobile payment functionality near an NFC-enabled ATM terminal… The customer will then input their Wells Fargo Debit or EasyPay card personal identification number (PIN) and complete their transaction.”
TD Bank to add AI to mobile banking app
TD announces conversational AI platform agreement with Kasisto — Kasisto — “Through the AI-powered interactive chat interface, TD app users will be able to check account information, review transaction histories and monitor spending levels. In addition, customers will also be able to get instant answers about specific spending-related questions including how much they spent on a recent weekend getaway, what their largest transaction was last week, or what they spent on categories like groceries or coffee last month.”
Japanese bank demos blockchain payment solution
Japan’s big banks showcase fintech at Ceatec show — Nikkei Asian Review — “A smartphone app lets users buy MUFG Coin with yen from their bank accounts and send the digital currency to others. Remittance costs are kept low thanks to blockchain, the distributed ledger technology that underpins bitcoin. With MUFG Coin, wiring amounts of money too small to be practical under typical bank fees becomes possible, according to the lender.”
HSBC to let customers view accounts from multiple banks in one app
HSBC to let UK customers manage different bank accounts on one screen with new app — CNBC — “Customers can add accounts from up to 21 different banks, including Barclays, Lloyds and Bank of America. When a new account is added, login details for each account are tailored to that bank’s interface… The bank has spent US$2bn globally to work on its digital banking platform.”
Japanese banks to develop shared customer ID platform
Japan developing shared ID system for banks — Nikkei Asian Review — “In this set-up, an account holder at one bank can register for a shared ID. If the individual wishes to open an account at a second bank, all she needs to do is provide the common ID through a smartphone app, and confirm her identity through fingerprint or facial scan.”
HSBC uses face recognition to authenticate payments in China
Selfies are the latest way to pay — HSBC — “The customer simply blinks into their camera using the ‘selfie mode’. Their identity is then checked against a photo held on a database. If the pictures match, and the customer enters the correct passcode into their banking app, they can transfer up to RMB50,000 (about US$7,600) a day. Previously, they had to use a token device for authenticating and making transfers.”
SocGen picks sound-based payments for mobile banking in Africa
Société Générale launches Yup, a new alternative to the traditional banking model in Africa — Société Générale — “Based on an agency banking model, ie a network of third-party agents with whom the bank has formed partnerships (service stations, distribution trade, etc), Yup is accessible via an expanded network of distributors equipped with adapted terminals and, of course, via the mobile banking app of Société Générale’s different banks throughout Africa.”
Google unveils iOS and Android mobile payments app for India
Tez: Money made simple — Google — “Send money home to your family, split a dinner bill with friends, or pay the neighbourhood chaiwala. Make all payments big or small, directly from your bank account with Tez, Google’s new digital payment app for India.”
Standard Chartered turns merchants into ATMs
No ATM needed: Standard Chartered partners startup SoCash on 400 cash withdrawal points — The Straits Times — “Instead of having to look for an ATM, Standard Chartered Bank customers now have the option of getting cash through SoCash, which has been integrated into the SC Mobile app… They simply key in the amount they want to withdraw and collect the cash from any outlet of a participating merchant. Withdrawals can range anywhere from S$20 (US$14.84) to a maximum of S$500 (US$371.09) daily.”
Irish bank’s new app lets customers open account and start making mobile payments in just five minutes
KBC launch new app to revolutionise account openings — KBC Bank Ireland — “KBC’s app is the first of its kind, and works by allowing customers to open, activate and use their bank account at any time, within just five minutes… Apple or Android Pay is ready to use with the account immediately.”
Citi Bot to answer customer queries via Facebook Messenger
Citi launches first Facebook Messenger banking chatbot in Singapore that provides customer account information — Citigroup — “Citi Bot will be able to address a range of common customer needs, including account-specific enquiries such as checking of account balances and transactions, providing credit card bill summaries, rewards and points balances and answering frequently asked questions… The second phase of the Citi Bot will introduce more new features such as card activation, ability to lock and unlock credit cards and transaction alerts for cards.”
Rabobank cuts mobile banking errors with IBAN name checking service
Rabobank introduces IBAN Name Check — Rabobank — “’The IBAN Name Check allows customers to check the name of the beneficiary before the transfer is executed,’ says Alexander Zwart, manager online access at Rabobank. ‘If the entered name differs from the registered account holder, the user can cancel the transfer. Or they receive a warning that the account number doesn’t belong to a company but a private individual. This makes online and mobile banking even easier and safer.’”
Bank of America rolls out cardless ATM withdrawals
Bank of America debuts new mobile tools focused on personalization — Bank of America — “Customers can now start an ATM withdrawal directly from their mobile banking app. Customers simply log into the app and select the desired amount to withdraw. When they arrive at the ATM, they can either use their smartphone or debit card, enter their pin, and a personalized screen will display asking the customer if they are here to complete the withdrawal, which eliminates four steps at the ATM.”
ANZ first Australian bank to roll out voice ID for mobile banking
ANZ first Australian bank to roll out voice ID for mobile banking — ANZ — “This is a significant security update that will make it easier for our customers to complete high-value transactions on their smartphones… Customers can now make ‘Pay Anyone’ payments of more than A$1,000 on their mobile without needing to log into internet banking, or remember additional passwords or pins.”
OCBC Bank launches mobile keyboard to enable cashless payments directly from any mobile app
OCBC Bank launches mobile keyboard to enable cashless payments directly from any mobile app — OCBC — “The OCBC Keyboard can be used within any mobile app or browser – for instance, within Facebook, Whatsapp, Instagram or Chrome – to send money instantly to anyone with a bank account in Singapore… Payments are completely secure as they are authenticated with the sender’s mobile banking credentials.”
From the high street to the handset: How banks can stay connected to consumers in the smartphone era
While banks may no longer need a presence on every high street to stay connected with their customers, they do need to remain very visible, especially on the smart device, to avoid being relegated to the place of a utility, payments technology provider Dejamobile’s Lorcan Burke tells NFC World readers in an in-depth article that explores the changing role of banks in the smartphone era... More
Bank of America, Samsung pilot iris-scan logins
Bank of America, Samsung pilot iris-scan logins — American Banker — “Half of the bank’s mobile app users are using fingerprint authentication, which BofA rolled out in 2015. In addition to the iris scanning pilot, it is exploring the use of facial scanning and voice recognition.”
Orange reports on the opportunities and challenges in mobile-only banking
“When we look at the future of the banking and payments ecosystem, it is clear that operators will continue to play a prominent part in the space for many years to come as they evolve from their traditional business to new non-core areas, as we have done,” the deputy CEO of mobile financial services at Orange explains in an in-depth article on mobile-only banks that is now available to download from the NFC World Knowledge Centre... More