Carl Tsukahara, Clairmail’s Chief Marketing Officer, was quoted extensively in a recent Read Write Web article. Below is a reprint.
The industry movement created of any disruptive technology will create winners and losers. What entities create value out of disruption in the early stages will set a base for future success. In the mobile payments sector we have talked a lot about the confluence of technology companies with payment processors and debated who will ultimately emerge as winners.
One sector that is often forgotten in this discussion is the fact that banks already play a central role in the day-to-day lives of consumers. There is huge potential for the banks to profit from the mobile payments evolution and they need to move quickly before the industry passes them by.
It is no secret that many U.S.-based banks are in trouble. One reason for that are government regulations on overdraft and transaction fees that effectively zapped $25 billion in revenue from banks coffers. Mobile banking solutions provider Clairmail believes that mobile payments will be financial institutions saving grace. Read More »
DBS Bank, one of the largest retail banks in South East Asia, recently announced plans to launch a real-time SMS/text alert service after a $1 million ATM skimming scheme hit over 700 DBS Bank customers in Singapore.
Tom Wills, a fraud analyst for Javelin Strategy & Research, says financial institutions (FIs) in other markets, such as the United States and Europe, can learn from DBS’s example. “Offering SMS alerts to customers for ATM withdrawals is a smart move for any FI, because it takes advantage of the strengthened transaction security that mobile out-of-band messaging offers,” he says.
Phil Blank, who works in Javelin’s Security, Risk and Fraud Practice, agrees mobile technology is vastly underused as a means of communicating transactional information with consumers. He says most institutions, especially in the US, are not keeping up with fraud trends, and they fail to adequately leverage mobile technology for alerts.
“If FIs would encourage consumers to set alerts on their credit and or debit cards, a lot of this would be detected a whole lot sooner,” Blank says. “Skimming is only effective if there is a delay between the time of the skim charge and the time the consumer notices it on their statement. Without alerts, the fraudsters will always have the upper hand.”
Learn more about how mobile fraud alerts can help FIs to reduce fraud losses by downloading the Clairmail white paper, Fraud Solution: Leveraging Mobile to Combat Fraud.
Confused by the myriad players and alliances in the growing mobile wallet space? This infographic from Mashable.com may help clear things up:
Click here to view the full infographic.
In a recent Bankrate.com article, several security experts, including Clairmail’s chief marketing officer (CMO), Carl Tsukahara, shared seven steps that consumers should take to keep their mobile banking experience secure.
- Create a device password: Go to your phone’s settings menu, and configure the device so each time the phone is turned on, your password must be entered to access information, says Carl Tsukahara, CMO for Clairmail. Use the password feature on the phone when it comes out of the power-saving mode as well, he says. When your phone is locked, it’s unlikely a thief could get access to mobile banking personal information if it ever gets lost or stolen, Tsukahara says. Read More »
Congratulations to Clairmail customer Fifth Third Bank on the launch of its mobile banking applications for the most popular mobile platforms – iPhone, Android and BlackBerry.
In addition to conducting mobile banking via text banking and the mobile web, Fifth Third customers can now conveniently view balances, transfer funds, pay bills and more, all from their smartphones.
Mobile banking is free to all Fifth Third Bank customers.
Fifth Third’s apps were developed in partnership with Clairmail, the leading provider of mobile solutions for the financial industry. Other Clairmail clients with mobile applications include PNC Bank, Bank of the West, and Sallie Mae Bank.
To view a demo of the Fifth Third iPhone app experience, click here.