A new patent from Amazon for a mobile payment method that protects a user’s personal information was published by the U.S. Patent and Trademark Office yesterday. The payment method uses temporary identifiers and codes, and relies on text messages for transmitting information. Both parties to the transaction would need to be registered with Amazon’s...
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Bank of America reached 12.6 million mobile users in the first quarter of 2013, which is 30% higher than in the first quarter of 2012, CEO Brian Moynihan revealed in an earnings call today. The bank’s mobile users grew 5% over last quarter’s 12 million. In the first quarter of 2012, the bank reported 9.7...
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Wells Fargo, known for its methodical rollout of innovations, is testing a new branch in Washington, D.C. The branch — or neighborhood store, as the bank refers to it — is just 1,000 square feet, while the traditional branch location is 3,000 square feet. The branch is not much larger than your average ATM lobby. Is...
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When do mobile banking customers deposit checks using remote deposit capture (RDC) on their smartphones or tablets? At night and over the weekends, from the comfort and safety of their homes? It turns out most mobile deposits take place during banking hours. 66% of mobile deposits occur between 10 a.m. and 5 p.m., according to...
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Which of the nation’s 20 largest banks seem to have ticked off its customers most over the last year or so? Try HSBC Bank, Sovereign Bank, RBS Citizens, TD Bank and SunTrust Banks. Among the Top 20 banks by deposits in the nation, these five banks had the greatest rate of consumer complaints per...
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Both JPMorgan Chase and Wells Fargo posted a 32% growth rate in active mobile users over the first quarter of 2012 today. Both banks are seeing rapid growth in active mobile banking users, and more measured growth in active online banking users, according to 1Q earnings reports released today. (See here for what constitutes an “active user” at...
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Regions Bank made headlines last week when it announced it was introducing mobile remote deposit capture (RDC) for a — gasp! — fee. US Bank has offered the service for $0.50 per deposit for two years now. Last month, PNC Bank President William Demchak said the bank was considering charging for the service, after...
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Mobile money management is no longer the next big thing — it’s the big thing right now. From banking apps for depositing funds and paying bills to payment apps to use at the point of sale to person-to-person payment apps, there’s a lot of ways for customers to take their money mobile. Here are...
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Regions Bank has beefed up its small business offerings. The Birmingham, Ala.-based bank launched its Biz Forward program this week, a program aimed at offering small businesses the advice and support they need to succeed in today’s tough economic climate. The program includes visits from specially trained Regions bankers to advise small business owners,...
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