Credit unions should zero in on four areas as money movement and payments grow in the mobile channel.
Average mobile banking transaction amount for iPad users almost twice as high as smartphone users.
Recent reports allege substantial security flaws, especially in credit union apps. Developers disagree with the reports and say their apps are safe.
DDoS threat for Tuesday, May 7, includes plug for credit unions, but are they targets, too?
Mobility Matters is by veteran tech reporter Robert McGarvey. This week's topics include stopping mobile fraudsters and the cool factor in tap-and-go.
"We can create mobile banking apps for credit unions that truly are better than what the big banks are issuing. That’s our promise,” said Robb Gaynor co-founder and chief product officer at Malauzai, an Austin, Tex.-based developer of mobile tools for community-based financial institutions.
Some may call it a convergence of three game-changing forces that are rewriting financial institution security at warp speed.
That's according to people who make their living helping credit unions and other financial institutions accommodate new technologies and the compliance challenges that come along with them, as well as shape the rules themselves.
While an estimated 90% of U.S. consumers use mobile phones, far fewer use them for banking. In fact, a Gartner report released in June said that out of the group studied, only 15% had used mobile banking in the past month.