What We’re Reading: Mobile Banking, Remote Tellers and EMV

Below are interesting stories the Banking.com staff has been reading over the past week. What have you been reading? Let us know in the comments section below or Tweet @bankingdotcom.


  • GoBank, the Pay-What-You-Want Mobile Bank Account, Launches Out of Beta (Video)


Alok Deshpande, GoBank’s vice president of product development, said the company keeps its costs low in part because it doesn’t operate any brick-and-mortar bank branches. But does it actually think its customers will choose to pay a monthly fee of anywhere from nothing to $9 for a checking account, when they don’t have to? Deshpande said it’s too early to tell, since beta users weren’t given this option, but that the feedback the GoBank team has gotten is that beta users liked what the messaging around the payment option said about the type of banking relationship GoBank is trying to foster. Still, Deshpande hinted that the company may build out the bank’s feature set in the future, allowing for additional ways to make money.

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  • Consumers More Willing to Pay for Mobile Banking: Study

American Banker

Over the past year, consumers have become more willing to pay for mobile banking services, according to a new report by ath Power Consulting. According to the study, one in three consumers would be willing to pay something for mobile banking services, which is a 13% bump up from 2012’s study results. Last year, one in five consumers said they would pay for mobile services. The online survey polled 3,201 banking and credit union customers across the United States. Those reluctant to charge tend to think of mobile as a lower-cost channel and express concerns about consumer backlash. The majority of small businesses (63%) said they would pay something to use mobile banking, according to the report.

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  • Bank branches test remote teller system: Devices allow more after-hours services, but staff cuts are likely.

Atlanta Journal – Constitution

Across metro Atlanta and elsewhere, banks and credit unions are rolling out new technology that adds Skype-like video connections to oversize ATMs, letting you talk to tellers early in the morning and into the night. With them, you can complete complicated transactions that can’t be done at the ATM, even when the bank is closed.

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  • Andera, Intuit Partner on Account Opening Technology

Bank Systems & Technology

Andera’s oFlows solution has been selected as the new account opening technology by Intuit Financial Services. Andera’s cloud-based platform, oFlows has been chosen to be the new account opening technology for Intuit Financial Services’ institutional clients. The platform offers customers the ability to send in identity verifying signatures and documents to open accounts in digital and mobile channels.

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  • Wells Fargo offering text message receipts at its ATMs starting today  Mobile


Forward-thinking financial institution Wells Fargo is offering its customers the choice of receiving a text message receipt — in addition to its e-receipt and email options — whenever you use one of the bank’s ATMs.

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  • The Durbin Debit Dilemma with EMV

Javelin Strategy & Research Blog

The Smart Card Alliance describes the problem in the context of the proprietary nature of a network’s chip application – EMV is designed so that transactions only go to the network specific to that chip on that specific card, there is no room for choice. The search therefore is on for a “Common AID”, one that can be shared by all of the debit networks with the level of ubiquity that is currently seen with magnetic stripe cards. But, the issue here is some of the proprietary systems are owned by the very parties that Durbin was seeking to control – Visa and MasterCard. As a result of this, there is effectively a three horse race in terms of solutions to the Durbin Debit Dilemma and predictably, two of these have been presented by Visa and MasterCard, with a third from the cornucopia of regional debit networks.

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Written by Banking.com Staff