In an article titled 'Where Either a Borrower or a Lender Can Be', Jane J. Kim writes for the Wall St. Journal about person-to-person lending networks (like Prosper.com, Lending Club.com and Zopa.com) and how small business owners are increasingly turning to those networks as access to bank credit has become more difficult.
Update: Jim Bruene gets this one right over on his NetBanker blog - it's actually about person-to-business lending!
A new Harris Interactive study finds that "mobile phone users are increasingly comfortable making banking and purchase transactions while on-the-go – a virtual taboo until now. The survey finds 16 percent of mobile phone subscribers already use mobile banking services, with 60 percent of these people using the services at least once a week. Many others presently not banking and buying on-the-go expressed interest in mobile banking, with 35 percent open to checking bank account balances and transferring funds via their mobile devices. A third of those surveyed (33 percent) also said they would like to receive text message alerts from their financial institutions." The survey also found that the biggest barrier affecting consumer acceptance of mobile banking and commerce is security concerns over personal data.
Jack Henry & Associates has announced that goDough, its mobile banking solution, has been adopted by 54 of its core banking clients. goDough is a browser-based solution developed internally by Jack Henry & Associates and introduced in November 2007. [Editor's Note: Last September, Glenbrook's Russ Jones posted a 10-Step Cookbook for Glenbrook's Mobile Banking Strategy recommending that bankers get to work enabling a browser-based mobile banking solution.]
Union Bank of California has announced it will be providing its banking customers with MasterCard PayPass contactless payment technology on their debit cards. To be issued over the next several months, nearly one million Union Bank debit cardholders eventually receive new contactless debit cards.
In the UK, APACS has reported 2007 statistics for both card fraud losses and online banking fraud losses. Card fraud losses were up by 25% with the increase being driven by a £90.5 million increased in fraud abroad as more UK card details were stolen for use in countries yet to upgrade to chip and PIN. Online banking fraud losses went down 33% to £22.6 million.