BankNews Jan. 2015

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Ally Bank Launches New Online Banking Platform

January 23 – Ally Bank, the direct bank subsidiary of Ally Financial Inc., has announced the launch of its redesigned online banking experience.  Nearly one half of Ally Bank’s retail deposit customers use online banking, and the new platform provides them with a simpler, smarter way to manage their bank accounts, as well as new features most frequently requested by customers.

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iPhone Mobile Users Outpacing Android Users, Says New Report

December 11 – Malauzai Software, a leader in mobile banking, has released its monthly Monkey Insights “little-data” report, the report where an overwhelming amount of big data surrounding mobile banking is broken up into digestible analytics factoids. The study highlights key trends in mobile banking usage based on November data for 245+ banks & credit unions, covering 4.5 million logins from 266,000 active mobile banking users.

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Steps to a Successful Mobile RDC Program

By Robb Gaynor

Smartphones have transformed into more than just a means of communication as consumers become increasingly comfortable with their capabilities. One area in which this comfort has become most evident is in the dramatic growth of mobile banking usage — on average, 25 to 35 percent of a bank’s customer base actively uses the mobile channel. What started out as a way to quickly check balances has evolved into full-service banking via the mobile device. The available features and clear demand from consumers has even led some institutions, such as Moven and BankMobile, to launch as mobile-only banks.

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Announcing Javelin Strategy & Research’s 2014 Identity Safety in Banking Award Winners

October 27 – Criminals are fueling their assault on consumers’ checking and savings accounts with targeted data breaches and malware attacks, which are lucrative sources of account credentials and financial information. Their success was undeniable, as existing non‐card fraud (ENCF) nearly tripled from 2012 to 2013, and resulted in total loss of $5 billion. These incidents are facilitated by the proliferation of a variety of stolen consumer PII that can be used for account access.

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Monkey Insights Reveal Mobile Banking Smart Device Usage for September

October 23 – Malauzai Software, a leader in mobile banking, has released its monthly Monkey Insights “little-data” report, the report where an overwhelming amount of big data surrounding Mobile Banking is broken up into digestible analytics sets that we like to call “little data”.  The study highlights key trends in mobile banking usage based on September data for 225+ banks & credit unions, covering 3.9 million logins from 250,000 active Mobile Banking users. 

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CFPB Adopts Rule Allowing Online Posting of Privacy Disclosures

October 20 – The Consumer Financial Protection Bureau has finalized a rule to promote more effective privacy disclosures from financial institutions to their customers. The new rule, which was proposed in May, allows companies that limit their consumer data-sharing and meet other requirements to post their annual privacy notices online rather than delivering them individually. 

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2014 Identity Safety in Banking Award Winners

October 13 – Criminals are fueling their assault on consumers’ checking and savings accounts with targeted data breaches and malware attacks, which are lucrative sources of account credentials and financial information. Their success was undeniable, as existing non‐card fraud (ENCF) nearly tripled from 2012 to 2013, and resulted in total loss of $5 billion. These incidents are facilitated by the proliferation of a variety of stolen consumer PII that can be used for account access.

Continue reading “2014 Identity Safety in Banking Award Winners” »

Cardlytics Releases White Paper on Benefits of Card-Linked Marketing for Banks

September 3 – Cardlytics, a leader in card-linked marketing, has released its latest white paper: “Benefits of Card-Linked Marketing: Increased Card Usage and Decreased Customer Attrition.” The white paper examines the impact of interchange fee limits on customer engagement programs, then goes on to document how the Cardlytics Card-Linked Marketing program in place at Bank of America, PNC Bank, Regions Bank and hundreds of others, has stayed attrition and increased debit and credit card use and spending.

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Ally Bank Launches Mobile Banking App for iPad

July 17 – Further expanding its suite of mobile services for customers, Ally Bank, the direct banking subsidiary of Ally Financial Inc., has launched a mobile app designed specifically for the iPad and iPad mini tablets.  The app is currently available for iOS 7 systems, and it will support the iOS 8 update coming this fall.

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Monkey Insights Mobile Banking Smart Device Usage

July 15 – Malauzai Software, a leader in mobile banking, has released its monthly Monkey Insights “little-data” report, the report where an overwhelming amount of big data surrounding mobile banking is broken up into digestible analytics sets that we like to call “little data.”  The study highlights key trends in mobile banking usage  based on June data for 180+ banks & credit unions, covering 3 million logins from 210,000 active mobile users.

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