Banks helped to assess consumers without credit histories through behavioral analysis service
We’ve seen a couple of efforts to introduce quick and easy banking services in developing nations. Now addressing the topic of credit-worthiness, Cignifi aims to help banks meet the needs of the 2.7 billion such people worldwide by offering credit and marketing scores for consumers using just mobile phone behavior data. READ MORE…
Bank helps unemployed customers avoid foreclosure via job search assistance
There are many ways a company can help its customers survive life’s daily challenges, but offering job search assistance to those who are unemployed surely goes above and beyond what’s normally available. However, Ohio-based Fifth Third Bank has taken this step, having teamed up with employment firm NextJob to offer unemployed mortgage borrowers free job search assistance, including one-on-one dedicated coaching, weekly webinars and online job search software. READ MORE…
Smartphone-based bank helps customers make better use of their money
While the big banks have often been slow to take advantage of new technologies, startups such as Simple have realized how smartphones can help streamline financial transactions. Now Movenbank is offering a similar solution, with integrated tools to aid account holders in identifying how they could be saving money. READ MORE…
Service aims to make banking simpler
Making financial services easier for consumers to deal with was the aim of the Wallaby card, recently featured on these pages. Now taking a different approach, Simple is a new service that also offers greater control of accounts with multiple online and mobile features. READ MORE…
In Japan, cardless ATMs will scan users’ palms
Biometric technologies can help bring banking to illiterate users, as we saw in our article about NCR’s Pillar ATMs last fall, and now we’re seeing how they can be put to use in a completely different scenario. Specifically, in times of disaster, cardless banking ensures consumers can still access their accounts. Inspired by just that need, Japan’s Ogaki Kyoritsu Bank will soon roll out a line of ATMs that scan users’ palms and require no external form of identification. READ MORE…
Singapore bank targets young adults with tailored products
In this era of financial crisis, many banks find themselves struggling to gain favor and trust among young adults. Hoping to rectify this, Singapore’s OCBC Bank recently launched a new banking service targeting just those consumers, with a variety of tailored products and services served up with a splash of youthful style. READ MORE…
Russian ATM can detect when users are lying
As more and more security measures are being brought in to make internet banking securer than ever before, it was only a matter of time before we saw similar precautions introduced at ATM machines. Now, Moscow-based Sberbank has developed a banking machine that can tell when a patron is lying. READ MORE…
Service aims to simplify consumer banking with dedicated tools and products
Hard on the heels of our story about Finnish banking service Holvi comes word of yet another contender that aims to shake up the financial world. Rather than group banking, though, BankSimple targets everyday consumers with a service that seeks to provide a “worry-free alternative” to traditional banking services. READ MORE…
In South Africa, cardless ATM withdrawals via mobile phone
The virtual ink had scarcely dried on our story about South Africa’s upcoming Mahala Free Banking Platform last week when we received word of yet another mobile banking innovation in the country. Customers of Johannesburg-based First National Bank (FNB) can now make withdrawals from an ATM without a bank card using just their mobile phone. READ MORE…
Free mobile banking network launched in South Africa
In South Africa, an estimated 13 million people — 27% of the population — are currently without bank accounts. Simultaneously, 94% of the adult population possess a cell phone. Just as M-PESA realized the potential for mobile technology to bring banking to the masses at low costs, the Branson Centre of Entrepreneurship and Forus Financial Transaction Services will similarly be launching the Mahala Free Banking Platform in May 2011. READ MORE…
