Wednesday, July 7, 2010

Business Mobile Banking, Fraud Top of Mind in Bankers Survey

Providing businesses with mobile banking and preventing fraud were top of mind for a group of banking brass gathered for a confab in California earlier this year. Social networking, maybe not so much.

Fundtech Ltd., a provider of global payment processing and ACH solutions, said more than 100 transaction banking executives from 53 American financial institutions participated in the polling in May at its Insights Conference in Santa Monica.

Fundtech, based in Jersey City, N.J., and London, said 39% of the respondents planned to deploy mobile business banking services within the next 12 months, 53% said payments fraud monitoring is their biggest challenge and 23% “think adding social networking to business banking is a ‘ridiculous idea,’” although 36% thought there was some potential to it.

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