Visible Banking News #7

On regular basis (ideally weekly), I will post a list of key news on web 2.0 & Banking.
As usual, please do not hesitate to get back to me with you remarks, or with any article I missed!

NEWS - 21 May 2007 to 27 May 2007

BLOGGING
* Wordpress grows beyond 1 million blogs - 24 May 2007
* New CU Blogs: Midwest Financial, Old Hickory, and Secure One Credit Unions - 21 May 2007

CUSTOMER COMMENTS
* Online banks hardly stuff of sword-and-sandals epic - 24 May 2007
* Making the Switch to Unadulterated Online Banking - 24 May 2007

CUSTOMER EXPERIENCE
* Wells' Web makeover woos punters and analysts - 25 May 2007
* Abbey in bank holiday meltdown - 25 May 2007

EVENTS
* Next MobileMonday Austin event: Mobile Banking and Payments, June 11 '07 - 26 May 2007

FRAUD
* A decade of online banking - and online fraud - 25 May 2007
* Anti-phishing filters bypassed in IE7? - 25 May 2007
* A first in Quebec's banking industry - Laurentian Bank innovates: 2 additional security barriers for online transactions - 24 May 2007
* Credit cards are still very vulnerable online - 24 May 2007
* Transaction hijacking - cheaper alternatives, at point of purchase - 24 May 2007
* Target 5 Warns Of 'Online Insecurity' - 24 May 2007
* House Passes Anti-Spyware Legislation - 23 May 2007
* Cyber fraudsters target accounts with 'one cent deposit' scam - 21 May 2007

INTERVIEWS
* Wells Fargo & Company at Lehman Brothers 10th Annual Financial Services Conference - Final - 23 May 2007

LAUNCHES
* Singapore's DBS Bank unveils plans for expansion in China - 25 May 2007
* ANZ and ING introduce direct access banking for pension funds - 25 May 2007
* Who launched the UK's first Internet bank? - 23 May 2007
* First National Bank of Omaha Launches Internet Bank - 22 May 2007
* Alliance & Leicester Commercial Bank extends bill payments network - 22 May 2007

MARKETING
* Tenth anniversary of online banking - 27 May 2007
* Apacs marks 10 years of Web banking - 22 May 2007
* One-quarter of 50 Largest Online Advertisers are From Financial Services - 21 May 2007

MOBILE BANKING
* Mobile Phones Revolutionize African Banking - 24 May 2007
* ING Direct Adds Mobile Banking - 24 May 2007
* NY Times Reviews Citi Mobile - 24 May 2007
* Barclays introduces mobile banking services - 23 May 2007
* Bank of America completes m-banking roll out - 22 May 2007

PERSONAL FINANCE
* Mint.com Set to Freshen the Personal Finance Space* - 23 May 2007

REPORTS
* Traditional vs. online banking: Which one is for you? - 27 May 2007
* Case Study: Metrics Drive Wells Fargo's Home Page - 23 May 2007
* Online banking boosts direct debits - 23 May 2007

SOCIAL LENDING
* New Person-to-Person Lender, Lending Club, Hopes Facebook Linkage Allows it to Prosper - 25 May 2007
* Social lending goes red hot, as FaceBook enters the space with “LendingClub” - 25 May 2007
* Now there's big money in P2P - 22 May 2007
* Virgin enters the P2P loan market - 20 May 2007

SOCIAL NETWORKING
* Facebook | will people share their pictures, thoughts and information with commercial interests? - 26 May 2007
* Prosper and Forbes tap Facebook; Co-op Bank joins MySpace - 25 May 2007
* Social Networking to infinity and beyond - 25 May 2007
* Could FaceBook risk becoming another AOL? - 25 May 2007
* Social Network ad spending predicted to grow (eMarketer) - 24 May 2007
* Community ROI - a sensible view - 24 May 2007
* A sense of community - 23 May 2007

VENDORS
* Origo to develop XML standards for full mortgage applications - 24 May 2007
* Financial Objects ships mortgage module - 23 May 2007

Visible Banking News #6

On regular basis (ideally weekly), I will post a list of key news on web 2.0 & Banking.
As usual, please do not hesitate to get back to me with you remarks, or with any article I missed!

NEWS - 14 May 2007 to 20 May 2007
* ANZ to automate mortgage processing; offshore back office jobs - 16 May 2007
* Delivering Multi-Channel Banking With New Integrated Platform - 15 May 2007
* Pandora's global royalties glitch - 15 May 2007

BLOGGING
* First Look: Verity CU's New Blog - 18 May 2007

EVENTS
* BarCampBankSeattle coming soon - 15 May 2007

FRAUD
* Two-factor authentication is not well understood - 17 May 2007
* HSBC defends two factor authentication opt out - 17 May 2007
* Home hand held device to combat online fraud - 15 May 2007

INTERNATIONAL
* Danske Bank Denmark abolishes banking charges - 16 May 2007
* ING cuts 2500 jobs in retail banking overhaul; to extend Web banking to Japan - 16 May 2007
* Brick-n-Click Model Boosts Deposit Volume ($) - 16 May 2007

LAUNCHES
* Wells Fargo Unveils Electronic Returned Items & Deposit Details Service - 18 May 2007
* Ulster Bank roll out mobile unit for Mayo - 18 May 2007
* Wells Fargo Launches CEO Mobile Banking Service - 18 May 2007
* Wells Fargo introduces mobile banking for business customers - 18 May 2007
* ING Direct Offers 1% Cashback for 60 Days - 17 May 2007
* AMEX to Launch New Consumer Catalog Site - 16 May 2007
* Aviva launches direct motor insurance services in Poland - 16 May 2007
* More Long-Term Archives at Tech CU, WaMu, and Citibank - 14 May 2007
* Ulster Bank to expand branch network in Munster - 14 May 2007
 
MARKETING
* Branding switch as more consumers bank online - 16 May 2007

MOBILE BANKING
* Mobile banking take up set to grow - Celent - 18 May 2007
* Mobile Phone Banking Poised for Growth in Africa - 17 May 2007
* Wells Fargo First to Offer Mobile Banking for Business Customers - 17 May 2007
* Pocket Banking through Mobile Phones in Rural China - 15 May 2007
* Mobile Banking | a replacement, or a supplement? - 15 May 2007
* Geezeo Marries Account Aggregation with Mobile Banking - 15 May 2007
* mFoundry and Verizon Working Together on Mobile Banking - 15 May 2007
* Javelin Studies Product Marketing Requirements for Mobile Banking - 15 May 2007
* Banking 2.0: Microfinancing and Mobile Banking - 14 May 2007
* In insurance, mobile banking - 14 May 2007
* Cash on call: it’s the mobile phone wallet - 13 May 2007

REPORTS
* Online Banking Drives Growth - 18 May 2007
* US Mobile Banking: Beyond the Buzz - 17 May 2007
* Celent Research Finds Mobile Banking Will Be a Significant Financial Services Channel - 17 May 2007
* Web banking soaring over all other retail channels - TowerGroup - 16 May 2007
* TowerGroup Finds Growth in Internet Banking Outpacing All Other Banking Channels Ever Launched
- 15 May 2007
* Banks, and the downside to aggressive selling - 15 May 2007

SECOND LIFE
* Germany's Wirecard Bank opens in Second Life - 18 May 2007

SOCIAL LENDING
* Virgin eyes US peer-to-peer loan market - 18 May 2007
* Update on Prosper.com Traffic Numbers - 17 May 2007
* Virgin Money to Enter U.S. Market Through Acquisition of CircleLending - 17 May 2007
* Zopa claims 150,000 members; hires Cordrey to lead product development - 15 May 2007

VENDORS
* mShift Leads in U.S. Mobile Banking Deployments - 18 May 2007
* ClairMail to Power Bank of Stockton’s Mobile Banking Services - 16 May 2007

Visible Banking News #5

On regular basis (ideally weekly), I will post a list of key news on online banking & web 2.0.
As usual, please do not hesitate to get back to me with you remarks, or with any article I missed!

NEWS - 07 May 2007 to 13 May 2007

AWARDS
* Discover Card Web Site Tops Customer Satisfaction Ranking - 09 May 2007
* Discover Card Ranked #1 Site For Credit Card Prospects! - 09 May 2007

BLOGGING
* Here's a Financial Institution Blogger that Does it Right - 07 May 2007

CUSTOMER EXPERIENCE
* Transumers | implications and opportunities for Banks - 08 May 2007

FINANCE
* Corillian Q1 losses widen - 11 May 2007

FRAUD
* E-security firm calls for banks to get .safe - 11 May 2007
* Fear of Identity Theft Discourages Consumers From Banking Online - 10 May 2007
* Financial Institutions Want Fraudsters Prosecuted - 09 May 2007
* The Phisher King - 09 May 2007
* Japan's FSA surveys online banking security in fraud crackdown - report - 06 May 2007

INTERNATIONAL
* Germany only middle-ranking in terms of online banking - 07 May 2007

LAUNCHES
* WoW Visa Card introduced - 10 May 2007
* Whitney Joins the Short List of Banks with Seven-Year Archives - 10 May 2007

MARKETING
* Banks promote online banking - 10 May 2007

MOBILE BANKING
* Less Hype, More Substance Now Behind M-Banking, M-Payments - 11 May 2007
* 1995 Web Pioneer, Salem Five Launches Mobile Banking - 08 May 2007

REPORTS
* Security Initiatives in Retail Banking - 09 May 2007
* DB - How enterprises use the internet for financial services - 09 May 2007

SOCIAL LENDING
* Prosper Advertising on BankRate.com - 11 May 2007
* Prosper Traffic Spikes, Hits Major Bank Levels - 10 May 2007

SECOND LIFE
* Money Games / Trends Virtual Currencies - May 2007

SOCIAL NETWORKING
* WoW Visa Card introduced - 10 May 2007

VENDORS
* Online Banking: Gemalto First To Receive Mastercard® And Visa CAP 2007 Certification For Its Two-Factor Authentication Device - 09 May 2007

VIDEOS
* Banks promote online banking - 09 May 2007

WEB 2.0
* New threats or recycled worries - 09 May 2007
* Enterprise 2.0 apps appear to have their very own "change agent" by their fundamental nature - 07 May 2007

Visible Banking News #4

On regular basis (ideally weekly), I will post a list of key news on online banking & web 2.0.
As usual, please do not hesitate to get back to me with you remarks, or with any article I missed!

NEWS - 23 April to 06 May 2007

AWARDS
* Barclays wins Hitwise Top 10 Award 2006 - 05 May 2007
* Zopa wins a Webby award - 01 May 2007

BLOGGING
* 7 Online Banking Success Stories - 06 May 2007
* Blogs Bring Negative Publicity to Overdraft Charges - 30 April 2007
* New Blog: Comala Connection from Comala Credit Union - 25 April 2007
* iKobo and Nationwide Insurance Use Website Videos, with Very Different Results - 24 April 2007
* Blog sighting: Member Connect from Piedmont Credit Union - 24 April 2007

CUSTOMER EXPERIENCE
* Australian financial firms failing online - Talisma - 03 May 2007
* Everbank Previews its New Homepage -  26 April 2007
* San Antonio's Broadway Bank is going beyond traditional online banking - 23 April 2007

EVENTS
* Updated Online Banking & Payments Conference Calendar: May through December - 30 April 2007

FIGURES
* 300,000 Citi customers go paperless in plant a tree drive - 24 April 2007
* U.S. Online Banking Population Grew 9.5% In 2006 - 23 April 2007

FINANCE
* Citi completes Egg acquisition - 01 May 2007
* Online ID start-up Garlik secures additional £6 million VC funding - 26 April 2007

FRAUD
* Japan's FSA surveys online banking security in fraud crackdown - 06 May 2006
* Q&A: Jon Fisher, CEO of Bharosa Inc. - 02 May 2007
* Hijacked Brands from Phishing Attacks Level Off - 02 May 2007
* Number of New Phishing Web Sites Declines 40% - 02 May 2007
* Site Functionality Key to Luring Online Laggards - 01 May 2007
* Chinese banks get together to tackle online banking fraud - 01 May 2007
* Fraud watchdog calls on government to extend legislation to virtual money - 01 May 2007
* MarkMonitor to Track "Brandjacking" - 30 April 2007

LAUNCHES
* Fortis and Irish Post Office launch community banking JV - 04 May 2007
* Movistar, Santander Río launch mobile banking service - 04 May 2007
* Royal Bank of Scotland to issue Xiring smart card readers - 02 May 2007
* One-time password generator squeezed onto bank card - 01 May 2007
* Alliance & Leicester launches Premier 21 Account - 28 April 2007
* BoA and WaMu launch 2 interesting products - 26 April 2007

MARKETING
* Citibank pushes online banking - 04 May 2007
* The Bank of the Future | some thoughts on the world of cross-channel sales and marketing - 02 May 2007
* First direct plans computer shutdown to cut emissions and save energy costs - 24 April 2007

MOBILE BANKING
* Salem Five Introduces Wireless Mobile Banking Service - 04 May 2007
* A Brief Introduction to Near Field Communications (NFC) and Mobile Payments - 04 May 2007
* Nokia and Mastercard team up on mobile payments - 03 May 2007
* Banks Go Mobile - 01 May 2007
* Washington DC-based Cardinal Bank Launches WAP Mobile Banking Site - 01 May 2007
* The (Re)Birth of Mobile Banking - 01 May 2007
* What Will Drive Consumers to the Mobile Channel for Banking? - 30 April 2007
* Followup Friday: More on the Bank of America & Verizon Online Billing Co-promotion - 27 April 2007
* Morse to spin-off mobile banking unit Monitise - 24 April 2007

NEWS
* Enrollment Service brings scale to online banking growth - 04 May 2007
* Finally, Someone Explores the Downside of Going Paperless - 04 May 2007

PODCASTS
* Links from ABA's Webinar: Extreme Website Makeovers - 01 May 2007
* ANZ Bank Posts Podcasts in Snazzy Microsite - 30 April 2007
* Wells Fargo introduces Webcast series for small businesses - 26 April 2007

REPORTS
* Jupiter and Compete Reach Opposite Conclusions on Current U.S. Demand for Mobile Banking - 02 May 2007
* The bank in your pocket - 30 April 2007
* CFSI Releases New Research on Mobile Banking and the Underbanked - 30 April 2007
* UK banks failing online account applicants - research report - 24 April 2007
* By Jupiter! Consumers Don't Find Mobile Banking All that Intriguing - 24 April 2007
* JupiterResearch Finds Limited Consumer Interest in Mobile Banking - 23 April 2007

SOCIAL LENDING
* Social lending gains net interest - 04 May 2007
* Zopa claims Windows Live first to make it easier to invite new members - 02 May 2007
* Paaleads.com adds unsecured loan leads from Zopa - 01 May 2007
* Zopa - Money Making Potential? - 26 April 2007

SOCIAL NETWORKING
* The power of social networks and banking is only now becoming clear - 01 May 2007
* Launch Day at Our Virtual Holland! (ING Bank) - 30 April 2007
* Schwab Does Social Networking, Sponsors Gather.com - 25 April 2007

SECOND LIFE
* Europeans most active in Second Life - 05 May 2007

VENDORS
* RC Olmstead to market IPay EBPP technology to credit unions - 04 May 2007
* First South CU licenses Open Solutions e-statement software - 03 May 2007
* Commerce Bank to deploy Deluxe anti-fraud and CRM tools - 03 May 2007
* Xiring gains Apacs certification for online banking authentication tool - 25 April 2007
* BOK Financial signs for Corillian's online banking system - 24 April 2007
* BOK Financial Selects Corillian for Next-Generation Online Banking Services - 24 April 2007

VIDEOS
* You Tube, BoA, EY and other corporate faux pas - 30 April 2007
* UK financial fraud rising - CIFAS - 24 April 2007

WEB 2.0
* Web 2.0 Threats and Risks for Financial Services - 30 April 2007

Phishing - Update (April 2007)

In just two months, between 17-Feb-2007 and 18-Apr-2007, I received 30 spams.
* 8 from Nationwide
* 5 from Halifax & HSBC
* 3 from Egg, Lloyds TSB and Wachovia
* 2 from Citibank
* 1 from Barclays

Nationwide fights phishers with MarkMonitor
Phishing is a growing concern for banks. Based on the number of phishing scam emails I received recently "from" Nationwide, it is no surprise that the bank teamed up with Markmonitor, the global leader in detection and enforcement of online corporate brand abuse (you will find the link to this news in Visible Banking News #3)

According to the March 2007 issue of the Business 2.0 Magazine, Markmonitor is one of the top companies to watch this year.
 
In March 2007 I met Greg - National Sales Manager (US) at the online_banking_summit_2007. Greg is extremely knowledgeable in Fraud protection. He introduced me to one of his colleagues based in the UK, Charlie Abrahams - VP & General Manager EMEA. Charlie was on of the top speakers at the recent e-crime congress 2007.
 
Congratulations to Charlie for signing this high profile contract in Europe!

Visible Banking News #3

On regular basis (ideally weekly), I will post a list of key news on online banking & web 2.0.
As usual, please do not hesitate to get back to me with you remarks, or with any article I missed!

NEWS - 16 April to 22 April 2007

Events
* Net.Finance 2007
* Online Banking and Marketing Statistics from Net.Finance - 20-Apr-2007

Fraud
* Nationwide fights phishers with MarkMonitor - 18-Apr-2007
* Barclays to roll out smart card readers to online banking customers - 18-Apr-2007
* Two-thirds tell you their password for a bar of chocolate - 18-Apr-2007

Launches
* Aviva rolls out signature-free online underwriting platform in Australia - 17-Apr-2007

Marketing
* Bank of America's "Paid Placement" at Verizon Wireless Bill Payment - 21-Apr-2007
 
Mobile Banking
* mFoundry Launches Spotlight Mobile Financial Platform - 17-Apr-2007
* Person-To-Person Payment Goes Mobile - 19-Apr-2007
* BancorpSouth goes cellular - 20-Apr-2007
 
Social Lending
* Zopa Provides Update on U.S. Launch Plans - 19-Apr-2007

Surveys
* Online bill payment key to customer satisfaction - 17-Apr-2007
* Online Banking Matures - 20-Apr-2007
* Multiple Channels Trip Up Banks - 20-Apr-2007

Vendors
* Online Resources trials same-day online bill pay - 17-Apr-2007
* Norwich Union appoints FundWorks for Web site expansion - 17-Apr-2007
* Bank of the West selects Systemware e-statement tool - 18-Apr-2007
* Online Banking Dictates Customer Satisfaction - 18-Apr-2007
* Whitney Enhances Online Banking E-Archive Features - 20-Apr-2007

Web 2.0
* Web 2.0 to usher in business revolution - EIU - 17-Apr-2007

Visible Banking News #2

On regular basis (ideally weekly), I will post a list of key news on online banking & web 2.0.
As usual, please do not hesitate to get back to me with you remarks, or with any article I missed!

NEWS - 09 April to 15 April 2007

Fraud
* Fraudsters Are Starting to Score Successes Against Online Banking - 11 April 2007

Launches
* Google launches online payments service in UK - 13 April 2007
* Schwab launches money mentoring Web site for parents - 13 April 2007
* Online mortgage firm Giraffe launches in Northern Ireland - 13 April 2007
* Boubyan Bank launches online banking portal implemented by Al-Faris - 15 April 2007

News
* The Title Says it All: "Online Banking: Protecting the Earth and Yourself" - 11 April 2007
* Online Bill Payments Surpass Checks for the First Time Among Internet- Connected Households - 11 April 2007
* Green banking - just hype or here to stay? - 12 April 2007
* Ins And Outs Of New Online Checking Accounts - 12 April 2007
* E-bill payments surpass cheques among Web-connected households - 13 April 2007
* Banks target the young - 13 April 2007
* The Two-Way Peephole - 13 April 2007

Personal finance
* Buxfer Showcases Personal Finance 2.0 Features - 09 April 2007

Podcasts
* Building Better Online Brand Experiences - 11 April 2007

Reports
* Driving Online Sales for Motor Insurance - 10 April 2007
* Aite - The State of Online Banking Security - 11 April 2007
* Online car insurers driving away customers - 11 April 2007
* Mobile Money & Payments 2.0 Released: The Latest from Online Banking Report - 12 April 2007

Surveys
* CIBC Website tops Forrester rankings among Canadian banks - 13 April 2007
   
Videos
* Banks Roll Out High Interest Online Checking Accounts - 12 April 2007

Web 2.0
* Enterprise 2.0 - current state of use of web 2.0 tools in Banks and Credit Unions - 10 April 2007
   
And feel free to check the Visible Banking News #1.

Visible Banking News #1

On regular basis (ideally weekly), I will post a list of key news on online banking & web 2.0.
As usual, please do not hesitate to get back to me with you remarks, or with an article I missed!

NEWS - 02 April to 08 April 2007

Customer experience
* Customers want online ID protection more than reimbursement from banks - 04 April 2007

Fraud
* ABN Amro compensates victims of 'man-in-the-middle' attack – 02 April
* ABN Amro problem was predictable – 03 April 2007
* Barclays wins anti-fraud award - 04 April 2007
* Hackers Selling Their Dark Services to Highest Bidders – 05 April
* CIB urges Internet users to beware of computer hackers - 08 April 2007

Initiatives
* Banks Adding Products Online – 02 April 2007
* HSBC to plant trees for customers who switch off paper statements – 03 April 2007
* Sovereign, CheckFree Launch Electronic Bill Payment Promotional Campaign – 05 April 2007
* Banks and Credit Unions Go Green with Paperless Promotions - 05 April 2007
 
Marketing
* Citibank Buys the Top Spot for Google "Checking Accounts" – 02 April 2007
* Bank Web sites are marketing tools – 05 April 2007

Mobile banking
* HSBC Pushes Cell-Phone Ads to Branch Passers-By – 02 April 2007
* Citi unveils cell-phone banking - 02 April 2007
* Citi Mobile(SM) Technology Makes Everyday Banking on Your Cell Phone Effortless - 02 April 2007
* Citibank’s Mobile Services Will Impact Outside U.S. – 03 April 2007
* Citi Mobile Launches in Southern California – 03 April 2007

Reports
* Automating Account Opening In-Branch and Online: A Case Study of Alliant Credit Union - 04 April 2007
* Banks struggling with online sales – Datamonitor – 05 April 2007

Surveys
* Online banking users value security before convenience - 05 April 2007
* Potential of internet banking remains unfulfilled - 05 April 2007

Vendors
* Liberty Bank to Adopt Digital Insight Web Platform – 04 April 2007

UK online banking crime is on the rise again

UK online banking crime rises again as card and cheque fraud falls, article found on finextra on 14 March 2007.

"Fraud figures released today by Apacs, the UK payments association, show total card fraud losses fell by three per cent in the past year to £428m - a decrease of nearly £80m over the past two years. But online banking fraud is up 44% from £23.2m in 2005 to £33.5m in 2006."

"The banking industry is also working on the next generation of fraud prevention solutions to help tackle fraud in non face-to-face transactions, such as online banking and telephone shopping."

Online banking fraud keeps increasing again and again
In the UK online banking is now more popular than telephone banking, and internet banking confidence hit a high in January 2007. But we know people want a service which is easy to use, and they want to feel safe.

The trend has been steady for the last couple of months: phishing and online fraud are increasing. In december 2006, we learned that UK online banking fraud had increased by 8000% and the FSA expressed its concerns.

We can wonder if is it going to change people's behaviour again? Are they going to switch back to Telephone banking?
I believe banks will manage to build trust and reinforce the confidence in online banking: they ackwnoledged security was one of the most important issues for british customers, and they know that being recognized as the most secure financial partner could help them increase their market share.

Feel more secure with the Chip and PIN
In France, we have been using the Chip and PIN for as long as I can remember. This is a reliable, easy to use, system which makes you feel more secure. In the UK, and in the US for that matter, you still just have to sign... Before handing out my card, I am always suspicious.

In 2006, the Chip and PIN has been introduced in the UK and it made more difficult for fraudsters to commit card fraud. This was an excellent initiative: people were already using their PIN to withdraw cash, now they just have to use the same PIN to pay with their debit or credit card. Even Amex introduced the Chip and PIN for their credit card.

Online Fraud & Phishing

In December 2006, the FSA said they were very concerned about the growth of phishing.

Phishing involves using fake websites to lure people into revealing their bank account numbers.
Fraudster will send you an email, which at first glance, will look like it has come from Bank XYZ. You will be asked to click on a link in the email that will take you to a fake website, which may look like the real Bank XYZ website where you will be asked to enter your confidential security details. The fraudster can then capture all the information they need to access your account.

On 6 Feb, I received a fake email from Halifax PLC (from [email protected]), and on 7 Feb I received one from Nationwide Building Society (from [email protected]).