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Bharti Airtel applies for banking license

Bharti Airtel, India’s leading telecoms operator, has applied for a banking license, in a potential breakthrough for the country’s under-developed mobile-banking industry. The first telecoms group to declare its intention to enter formally the banking sector, Airtel hopes to upgrade its existing pre-paid payments service, Airtel Money, into what is known in India as a payments bank, which offers remittances… Continue reading >>

mobile banking apps still a challenge

Understanding your customer’s mobile banking behaviour and what they want out of their digital experience and tools is key to any bank wanting to compete in the digital revolution, where the pace of change is so rapid. In February 2014, Nielsen confirmed that people use their mobile to access the web more than any other device, confirming that mobile really is… Continue reading >>

11% of Android banking apps are “suspicious”

RiskIQ, the company that enables organizations to maintain the integrity of their brands on websites and mobile app stores, has announced research findings on the prevalence of suspicious mobile banking apps. The company found that more than 40,000 (or 11%) of the 350,000 apps which reference banking in the world’s top 90 app stores contain malware or suspicious binaries. Mobile banking… Continue reading >>

Monitise for sale as revenues freefall

In an unsurprising move, Monitise, the UK mobile payments company, has issued its third revenue warning in a year and appointed advisers to consider a sale of the business, as it struggles with a painful change to its business model. The lossmaking technology group said on Thursday it expected revenues for 2015 to be flat at £90m-£100m, rather than growing 25%… Continue reading >>

EMV banking cards extend reach of Vodacom m-pesa mobile wallet

The deployment of prepaid EMV banking cards to complement Vodacom’s m-pesa mobile wallet service in South Africa will significantly extend the reach of the South African operator’s services. The card is certified by the major international payment schemes and accepted at any of the 240,000 EMV-compliant payment terminals and over 27,000 ATMs throughout the country. The card links seamlessly to… Continue reading >>

Google ceases sales of Google Glasses

In what has been a very short lived love affair, Google has stopped selling its Google Glasses product. Loved by few and lambasted by many the internet giant is shutting down the Explorer programme which was driving adoption of the Glass product and halting sales of the controversial specs while it focuses on unspecified “future version of Glass”. Beloved of geeks… Continue reading >>

Banks need strategy to reach tech-savvy, educated millennials

Millennials are the most educated, tech-savvy generation in the U.S. and represent a natural opportunity for the financial industry, but meeting their expectations will be a challenge for banks, according to the latest BBVA Compass report. Millennials are starting adulthood in a more complex economic environment, writes BBVA Compass economist Marcial Nava. The 75 million U.S. consumers aged 18 to 34 are… Continue reading >>

Polish banks and Visa to launch cloud-based mobile payments

Nine Polish banks have confirmed plans to commercially launch Visa cloud-based mobile contactless payment services from early next year, re-enforcing Poland’s reputation as a hotbed for innovation in digital payment services. Banking providers ING Bank Śląski, mBank, Bank Millennium, Raiffeisen Polbank, eurobank, Getin Bank, Bank Polskiej Spółdzielczości and Bank SMART will join Bank Zachodni WBK in rolling out services utilising… Continue reading >>

India’s Icici Bank creates digital village

India’s Icici Bank is aiming to transform a rural Indian community into a “digital village”, using technology to bring banking, education and health services to locals. The village of Akodara in the Sabarkantha district of Gujarat is being transformed to mark Icici’s 60th birthday and to show how technology can be used to transform the lives of India’s rural poor, says… Continue reading >>

Moven pushes financial fitness app to smartwatches

Online banking player Moven is launching its budgeting app on the Motorola 360 and Samsung Gear smartwatches, as it looks to capitalise on the New Year fitness resolutions of customers. The Moven app, which is being positioned as a health-tracker for customer finances, is designed to keep users informed of their spending behaviour and in so doing encourage them to… Continue reading >>