Monthly Archive for September, 2011

The Time for Mobility Has Come for UK Banks

A recent article in Finextra stated that “The Time for Mobility Has Come” for UK retail banks. Some key information from the article bears mentioning:

  • UK retail banks are jumping headlong into mobility, and several have already planted their flag in the mobile app market.
  • It is widely accepted that mobile banking will soon be a necessity, a commodity just as online banking is today.
  • UK retail customers are open to mobile banking and the expectation is that mobile banking will have a far more rapid adoption than online banking did.
  • Already, a quarter of UK mobile Internet users now use mobile banking services.
  • The next 12 months will see the commoditization of mobile retail banking and the consolidation of the use of mobile applications within corporate and investment banking.

The Clairmail team is ready to serve European financial institutions who agree that the time for mobility has come. To reach Clairmail’s London office, call +44 (0) 203 170 8305, or email info@clairmail.com.

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September 30, 2011 | Europe, Industry and News | 0 Comments

Utilize the Mobile Channel to Combat Fraud

A new study, “Mobile Payments & Online Shopping Survey of U.S. Consumers”, revealed that only 21% of U.S. consumers surveyed feel they are completely protected against fraudsters when conducting mobile banking activities.  Not surprising, considering U.S. consumers and FIs suffered over $37 billion in fraud losses in 2010.

However, the study also showed that 84% of consumers feel that it is “important” or “very important” for online payment service providers to express a commitment to protect them against fraud and other abuses – especially in the mobile channel. Per Javelin, FIs that use the mobile channel to combat fraud can experience up to a 50 percent reduction in fraud losses.

Ideally, a mobile fraud solution will empower FIs to generate and send real-time mobile alerts to their customers and enable them to instantly take action by replying to the alert, in order to quickly resolve fraud incidents and detect false positives. The solution should “deputize” FI customers in the fight against fraud and accelerate the identification and resolution of potentially fraudulent transactions.

Learn how the Clairmail Fraud Solution can enable FIs to leverage the mobile channel to effectively identify initial fraud incidents, resolve compromises and mitigate recurring fraudulent activities by downloading our white paper, Fraud Solution: Leveraging Mobile to Combat Fraud.

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September 29, 2011 | alerts, Industry, Research and Security-Fraud | 0 Comments

Mobile Solutions Should Leverage an FI’s Existing Payments Infrastructure

A recent Finextra article ties in nicely to our recent blogs on the subject of mobile payments. As you recall, last week we blogged about the benefits of financial institutions tightly integrating mobile payments with their mobile banking solution, and earlier this week we discussed how financial institutions are uniquely positioned to offer mobile payments.

The Finextra article, “Where next to make mobile happen?”, discusses the ongoing mobile technology developments that are constantly emerging, and the wider opportunities they present for mobile banking, payments and commerce. The article makes the following conclusion:

“Given the level of unpredictability that currently prevails, the most successful schemes will be those that take advantage of existing payments processing infrastructure, particularly where the real-time capabilities that mobile demands have been deployed. Mobile will rightly be a trigger for organizations to implement a more flexible payment platform that enables them to adapt to changing conditions with agility. But where these platforms are already in place, businesses can overcome the challenges and focus on the opportunities presented by mobile banking, mobile payments and mobile commerce.”

Clairmail’s bank-friendly mobile payments solution is designed to leverage an FI’s existing payments processing infrastructure, and takes full advantage of the mobile channel’s real-time capabilities. Learn more by downloading our white paper: Mobile Payments: Driving New Revenue from the Mobile Channel.

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September 28, 2011 | Opinion and Payments | 0 Comments

Bank of the West – Video Case Study

It’s been a little over a year since Bank of the West partnered with Clairmail to launch its mobile banking solution. See and hear first-hand about the results they’ve experienced by watching the following video:

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September 27, 2011 | Cust-Partners and Video | 0 Comments

Financial Institutions are Uniquely Positioned to Offer Mobile Payments

Last week we blogged about the benefits of financial institutions tightly integrating mobile payments with their mobile banking solution, inasmuch as it delivers a superior customer experience, leverages customer brand trust, and provides an unmatched level of security and risk management.

Related to that, a recent industry paper demonstrated that financial institutions are uniquely positioned to offer mobile payments, for five reasons:

  1. Consumer Trust: Consumers trust their bank or credit union for secure financial transactions. According to a recent survey, 40 percent of consumers
    trust their bank or credit union to handle mobile payments, outpacing all other entities.
  2. Access to Consumer Accounts: Banks and credit unions already hold the consumer accounts necessary to fund mobile payments.
  3. Payments Knowledge: Financial institutions possess the experience and  practical know-how to provide a secure and reliable payment service.
  4. Necessary Assets: Financial institutions have access to the assets necessary for payments, including infrastructure, technology and networks, along
    with the ability to provide customer support.
  5. Existing Relationships: Banks and credit unions have the direct and indirect relationships (commercial, merchant and consumer) needed to facilitate
    mobile payments.

Clairmail delivers a bank-friendly approach with its mobile payments solution that leverages these advantages inherent for financial institutions. Learn more by downloading our white paper: Mobile Payments: Driving New Revenue from the Mobile Channel.

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September 26, 2011 | Industry, Opinion and Payments | 0 Comments

The Intersection of Mobile Banking and Payments

Carl Tsukahara, Clairmail Chief Marketing Officer

In a recent Bank Technology News article on where banks fit in the NFC digital wallet race, Forrester Research analyst Brad Strothkamp said, “We’ve seen this with bill pay and [personal financial management]. I believe for any solution to work, it’s going to have to be integrated with mobile banking offerings.”

Indeed, as consumer mobile banking adoption continues to accelerate, FI customers will eventually perceive mobile payments as a natural extension. Mobile payment services that are integrated tightly with mobile banking platforms and leverage existing relationships will hold a distinct advantage, as consumers will be reluctant to maintain separate apps for mobile banking and payments.

An integrated mobile banking and payments solution makes sense for a number of reasons: Read More »

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September 22, 2011 | Byline, mobile banking, Opinion and Payments | 0 Comments
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