Internet / Online / Mobile Banking / Channels / ATM Branch
See below for a list of independently written IBS Journal news and feature articles and IBS Intelligence Research vendor profiles, case studies and market analysis related to Internet, Online, Mobile, ATM and Channels Banking Technology in order of publication date.
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Internet banking
Internet banking refers to a bank making its services available to clients using the internet as its delivery channel. Using internet banking, registered users are able to log on to the bank’s website and carry out banking transactions or inquiries on their accounts.
Internet banking services are normally free to use and enable customers to do their banking at a time that is convenient to them. It relieves the load on the bank’s call centres and the branch network. Some internet banks do not have any ‘real’ branches at all, but exist purely as internet accessed banks.
Depending on the bank, internet users can move money between accounts, pay bills, order statements or view statements on-line, view their investment portfolios and even buy/sell securities.
The provision of internet banking services is done either by the bank’s core banking system or, more usually, through specialist application packages that control all of the bank’s ‘multi-channel delivery’ (e.g. telephone banking, call-centre banking, internet banking, mobile telephone banking, etc.) which in turn connect to the relevant core banking system depending on the specific service the customer wishes to use. A bank’s information security department may prefer that the bank uses a separate application to act as an interface between its internal systems and the internet. This will provide an element of separation between external and internal systems and restrict internet users to the internet interface layer only and not allow direct entry into the bank’s internal processing systems.
Some banks are piloting schemes that add additional levels of security to their internet-based customers to verify their identity. Schemes such as one-off PIN pads and secure encryption are being evaluated.
Mobile payments
The term 'mobile payments' refers to a sub-division of mobile telephone banking that covers a range of payment transactions made via the mobile phone. The basic form would be P2P money transfer where money is transferred from one person's mobile wallet to another through SMS messaging. A stage on from this would be mobile remittances. Migrant workers could use this to transfer money directly into a recipient's mobile phone account back home. This is done either online or through a cash transaction at a bank, airtime reseller, or money transfer agent. The recipient will receive an SMS voucher that the money has arrived, and this can be claimed at their local airtime reseller.
You may also be interested in our Payments Systems & Suppliers Guide >>
Also in the mobile payments space is the use of the phone as a contactless card. Trials across the world have been looking into the adoption of NFC (near field communication) chips into mobile phones (e.g. O2 in London). These chips use a short-range high frequency signal to enable communication between the phone and a terminal. The phone has an inbuilt mobile wallet that can be topped up with funds. The handset can then be passed over terminals for small value payments. One of the core applications that this has been used for is transport tickets. Trials in the US, UK and Japan have all seen mobile phones used to pay for train travel.
The US is a particularly hot area for new technologies in the mobile payments arena. There is the obvious US-Mexico remittance channel to support which has driven many banks to offer mobile services. But there are also systems out there for other activities, such as mobile cheque imaging. A camera phone is used to take images of both sides of a cheque. These are then sent in to the bank which can clear or reject the cheque based on the images received.
Mobile telephone banking
Mobile telephone banking (often referred to simply as mobile banking) covers a broad area of the provision of banking services through the mobile phone. This can be for basic static applications such as using the handset as a mobile ATM to check a balance, or using the internet browser on the phone as a mobile access point for online banking. It can also cover some more interactive aspects such as mobile payments where the mobile phone can be used as a payments channel.
Branch network
A branch network is the traditional method of delivering retail banking services. In most developed countries branches are networked together and use the same computer system. This allows the bank to have up to date centralised information and permits the customer to conduct most business at any branch. This is called a centralised branch network.
In some countries (parts of rural Asia and Africa, some Eastern European and Middle East countries, etc.) branches of the same bank are not networked and have their own set of accounts for their customers. In this form of banking (called a de-centralised system) customers are not able to use other branches and data must be collated by bank staff to achieve an overall or centralised picture of the bank.
In some very large countries (Russia, for example, where there are eleven time-zones) or high populations (China, for example) the branch network is divided into regions and each region processes its own data. The computerised banking systems used by each region may or may not be the same.
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Article: Editor's Note – May 2013
07 May 2013
The number of new players in the payments sector seems to multiply by the week. They are queuing up to try to dismantle long-standing value-chains. Just about all of the newcomers are focused on the C2C or B2C spaces, whether domestic or cross-border....
Article: Direct Banking Focus Case Study: Barclays US – raising the Profile
07 May 2013
When the US subsidiary of retail banking giant, Barclays, decided to venture into the online deposits world, it looked to domestic vendor FIS, with its Profile core banking system. Andrew Harris, director of deposit products at Barclays US, talks...
Article: Direct Banking Focus Case Study: ZUNO – 'less bank, more life'
07 May 2013
ZUNO, a pure-play online bank unveiled by the Raiffeisen group two years ago, has surpassed the €1 billion mark in deposits. Its operations are underpinned by the Finacle core system from Infosys. The system's launch, says ZUNO's CIO and COO, was a...
Article: Direct Banking Focus Case Study: Knab – where the client, 'klant', comes first
07 May 2013
Netherlands-based Knab, a greenfield direct banking subsidiary of the Aegon group, believes the banking market is ripe for diversification. Knab's choice of core banking software is Sopra Banking Platform from Sopra Banking Software (formerly...
Article: Wahda Bank live with iMAL core system
29 April 2013
Libya-based Wahda Bank has launched its Islamic banking services range on Path Solutions' iMAL core system. More business in the country is to follow, says the vendor, as domestic banks are mandated to go fully Shari'ah-compliant by 2015.
Article: SIA underpins EBA Clearing’s MyBank initiative
09 April 2013
European Banking Association Clearing (EBA) has launched its new MyBank e-payments channel. The system is underpinned by technology from Italy-based payments provider, SIA, and 28 institutions have joined the initiative in the first phase. Two...
Article: Worldpay acquires Yespay
05 April 2013
Worldpay is acquiring payments service provider, Yespay, to position itself as a one-stop-shop for merchants, to provide them with a front-to-back office solution with 'omni-channel' shopping capabilities.
Article: Case study: National Bank of Egypt, Sudan – Turning risk into asset
03 April 2013
When the National Bank of Egypt (NBE) wanted to launch its new operation in Sudan, it placed its faith in regional supplier, International Turnkey Systems (ITS). Omer Sidahmed, the start-up's deputy general manager, shares the details of this...
Article: Case study: Burgan Bank Group – Same but different
03 April 2013
Burgan Bank Group is attempting to standardise its operations by rolling out the ICS Banks core banking platform from Jordan and UK-based vendor, ICSFS. The system is live in one of the six banks within the group, and projects at three more are...
Article: SIX Payment Services acquires Paylife Bank
03 April 2013
Swiss card processor, SIX Payment Services (part of the newly restructured SIX Group), is acquiring Paylife Bank, Austria's largest provider for acquiring and issuing cards, in a bid to become the 'absolute payment service provider' in Europe,...
Article: Bank Dhofar goes live with iMAL for Islamic operations
03 April 2013
Bank Dhofar, an Oman-based bank, has gone live with Path Solutions' iMAL core system for its Islamic banking operations. This new unit, named Maisarah Islamic Bank, opened for business earlier this year. iMAL is running alongside Bank Dhofar's...
Article: Wipro and HP go head-to-head for Corporation Bank contract
26 March 2013
Two integrators, Wipro and HP, are believed to be going head-to-head for the contract to replace the core banking system at India-based Corporation Bank. The public sector bank is a long-standing user of the LaserPanacea system from Polaris, but is...
Article: Misys delivery channel u-turn brings partnership with IND
25 March 2013
If you can't beat them, buy them or partner with them: this now seems to be the approach of core banking systems suppliers when it comes to channel delivery. Misys has gone the partner route, signing with Hungary-based specialist, IND, which means a...
Article: Overview: Payments market – The final countdown
08 March 2013
The continuing rise of mobile and contactless payments channels, M&A activity and the looming SEPA deadline has given the payments industry much to think about. 2013 looks set to be another year of reform in the retail and corporate payments space.
Article: Project watch: Universal Electronic Card – One card to rule them all
08 March 2013
As of next year, all Russian citizens will have to apply for a Universal Electronic Card (UEC), a new form of identification combined with a fully-fledged payments card. How does this work for the country's population of over 143 million?
Article: Point of view: Banks and mobile – Play to your strengths
08 March 2013
Sirpa Nordlund, executive director at a non-profit organisation, Mobey Forum, speaks to IBS about the trends and concerns of the marketplace, and explores the roles banks have to play to stay at the forefront of the industry (or at least afloat).
Article: Case study: Tinkoff Credit Systems Bank – One of a kind
08 March 2013
Tinkoff Credit Systems Bank (TCS Bank) has a unique place in the Russian market. The brainchild of a well-known entrepreneur, Oleg Tinkov, it was originally modelled on the Capital One bank in the US and is the only bank in Russia today that...
Article: Phase two of Tosan implementation underway at Khavar Mianeh Bank
07 March 2013
Following the recent go-live of the Negin Plus core offering from domestic vendor Tosan, Khavar Mianeh Bank in Iran has moved into the second phase of its IT project. Stage two involves the deployment of virtual channels and card payments switch....
Article: Russian vendors Sales League Table 2013 (results Jan-Dec 2012)
06 March 2013
IBS analyses the 2012 ups and downs of the Russian market, highlights notable trends, and compares the new-name core banking software wins of major domestic players.See also:
Article: US retail banking systems market analysis 2013 (results Jan-Dec 2012)
06 March 2013
The pick-up in demand for core systems continues to lift the gloom in the US and, although the market is not quite out of the woods yet, there seems to be a universal relief that the progress has been maintained.
Article: Oman's first standalone Islamic bank enters phase two of iMAL implementation
04 March 2013
Bank Nizwa, the first fully-fledged Islamic bank in Oman, has entered into the second phase of its implementation project, installing new channels such as internet banking and SMS functionality. It is still early days for this venture and the...
Article: Burj Bank migrates to iMAL
04 March 2013
Pakistan-based Burj Bank has completed its implementation of Path Solutions' iMAL. The bank replaced the Ambit Retail Banking solution from Sungard in February 2013.
Article: Aman Bank implements Flexcube from Oracle FSS
27 February 2013
Libya-based Aman Bank has initiated its implementation of Oracle FSS's Flexcube core banking system. The bank hopes to roll out the solution to its 23 branches and agencies, as well as its ten mobile branches by the end of 2013. Eduardo Pinto, COO a...
Article: Visa launches a fully hosted plug-and-play mobile money service
15 February 2013
Visa is targeting the emerging markets with a new mobile money offering, underpinned by the technology of Fundamo, a South African payments software vendor acquired by Visa in 2011. The first four takers are mobile service provider Aircel, ICICI Bank,...
Article: Jack Henry & Associates – Silverlake – Universal – Community Bank – US
25 January 2013
New case study in our Core Banking Systems Case Studies Online >> After outsourcing its core processing to Fiserv for over two decades, a...
Article: Banco Espirito Santo in Spain goes live with iBest core banking solution from Incita
18 January 2013
Banco Espirito Santo (BES) has become the second live site for Spain-based Incita's iBest for its Spanish operations. The vendor has recently filled out a series of RFPs in Central and South America, and has high hopes for this region.
Article: End of Year Review 2012
20 December 2012
As 2012 drew to a close, IBS Journal rounded up the significant developments of the international banking software industry, highlighting major achievements, dubious accomplishments, key mergers and acquisitions, as well as regulatory changes that...
Article: Sandstone launches Smartbank solution
12 December 2012
Australia-based financial technology company, Sandstone, has launched a new prototype solution, Smartbank, which allows financial institutions to combine their personal financial management, internet and mobile banking and loan origination solutions....
Article: BBVA prepares Lola, its virtual personal assistant
06 December 2012
BBVA’s US-based subsidiary, BBVA Compass, is about to start the pilot phase of its virtual personal assistant (VPA), Lola. The full roll-out is scheduled to kick off in the US by Q1 2013, while the bank is also developing a Spanish-speaking...
Article: Interview: Tony Prestedge, Nationwide Building Society
03 December 2012
The world's largest building society, Nationwide, has had a fraught few years implementing its new core banking system but it now looks ready to reap the benefits, which could in turn put pressure on its UK competitors. IBS talks to the society's...
Article: Intelligent Environments unveils software platform for digital finance
30 November 2012
UK-based mobile and online banking software specialist, Intelligent Environments (IE), has launched a new integrated platform for digital financial services, Interact. The new solution, which was unveiled on 29th November 2012, has already...
Article: Stocks and Securities Limited set to go live with IPBS e-banking software
29 November 2012
Jamaica-based wealth management company, Stocks and Securities Limited (SSL), is preparing to go live with its IPBS e-banking module in early 2013.
Article: Product spotlight: LendFusion – To tide you over
28 November 2012
As the payday loan industry continues to boom, LendProtect UK and InnoTech have partnered to launch a new online lending solution for the short-term lending market, LendFusion. How and why did they seek to join forces?
Article: Case studies: Renaissance Credit & Fountain Credit Services – A path to the cloud
28 November 2012
When two new microfinance institutions wanted to provide broader access to consumer credit and support their plans for rapid expansion, they launched on Temenos' T24 for microfinancing, hosted in the cloud. In doing so, Renaissance Credit Nigeria...
Article: The Central Bank of Seychelles rolls out country-wide mobile payments system
26 November 2012
Jordan-based vendor, ProgressSoft, is working with the Central Bank of Seychelles to develop a country-wide mobile payments platform. Michael Wakileh, CEO of ProgressSoft, believes that the company's reputation for country-wide payment system...
Article: Temenos: putting building blocks in place
21 November 2012
David Arnott, CEO of Temenos, gives IBS a first-hand account of what has been going on at Temenos and where the vendor is heading as it reinstates regional teams, continues with its cost-cutting programme and moves its focus to shorter projects...
Article: i-exceed launches mobile apps platform
07 November 2012
A group of former I-flex Solutions staff within a company called i-exceed have launched a mobile apps platform that is intended to isolate the back office from the device-type, thereby easing support of the latter. The search is on for a first taker...
Article: BBVA readies Visa's V.me e-wallet in Spain
06 November 2012
BBVA will be the first bank in Spain to offer V.me, Visa's e-wallet. The V.me project is currently at the pilot phase at the bank and is scheduled to go live by mid-2013 in Spain. Similar ventures are also under way to deploy this digital wallet...
Article: Other system replacement plans
06 November 2012
This section provides the results (summary tables) to the other systems respondents have (from the list below), any plans to change and what is behind those decisions:Financial Accounting - Retail Payments - Retail Lending - Retail...
Article: Relevant other technology
06 November 2012
This section provides the results (summary tables and data sets) to the following questions posed to respondents:How important are these banking channels and operating platforms to the strategy of the bank? (Internet - Branch networks -...
Article: Point of view – Technologies that are and those that will never be
05 November 2012
Apart from the much talked-about IT issues wealth managers and private bankers face (such as outsourcing versus in-house, straight-through processing and data security, just to name a few) what are the newer and/or off-beat challenges the industry...
Article: Analysis: Front office systems – Power to the people
05 November 2012
What technology should banks be providing to wealth management customers and IFAs? While traditional private banking has been built around the personal touch, there is a role for online information and facilities on different devices for the wealth...
Article: Vsoft wins third taker for core system, Texas-based Pointbank
30 October 2012
New entrant on the US core banking systems market, Vsoft Corporation, has gained a third taker for its Coresoft platform, Texas-based Pointbank. One part of the bank's plans is to offer the solution on a hosted basis to other banks.
Article: Conference review: BAI Retail Delivery 2012
24 October 2012
IBS was in Washington in early October for the major gathering of banks and suppliers that is the BAI Retail Delivery show. There is life in the core banking systems market in the US as well as increasing activity around channels, compliance and...
Article: Oak Bank nears go-live of Fiserv's Premier solution
19 October 2012
Chicago-based Oak Bank is preparing to go live with Fiserv's Premier core banking system, on an ASP basis, after more than 20 years of having systems in-house. With the new technology in place, the bank hopes to take on the likes of JP Morgan...
Article: Core banking vendor Probanx up for sale
17 October 2012
Cyprus-based banking software vendor, Probanx Information Systems, continues looking for a buyer. The company has 20 users worldwide of its flagship, Coreplus, mainly small and mid-sized online banks.
Article: Auraportal rolls out BPM solution at Bancafe Panama
16 October 2012
Auraportal, Florida-based provider, has deployed its business process management suite (BPMS) at Bancafe Panama. The provider is currently negotiating with the bank for the implementation of its document management solution.
Article: La Caixa rolls out its new multi-channel communication platform
12 October 2012
Spain-based bank, La Caixa, is deploying a new in-house multi-channel platform created with web 2.0 communication tools. This pioneer development in the country is part of the bank’s plan to boost its growth in managed funds by 20 per cent and...
Article: Interview: David Gledhill – DBS
08 October 2012
IBS talks to DBS Bank's head of global technology and operations about its core banking systems projects, the role and value of the bank's IT team, the downside of system integrators and the threats and opportunities of new channels.
Article: IBS Journal Banking Innovation in Asia Supplement
08 October 2012
There is arguably more innovation in some individual banks in Asia Pacific than there is in whole countries in Western Europe. Many are making a major push around channel delivery and social media, prompted by fierce competition and demanding,...
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