Mobile Banking is on the Rise and Auriga Rides on the Wave

comScore experts, in their recent survey 2011 State of Online and Mobile Banking,” note that in 2011, online and mobile banking in the US experienced substantial growth. At present, roughly 66% of US citizens pay their bills via the Internet, and 16% of mobile users report using their devices to access financial information, a percentage that is only likely to grow as consumers become more accustomed to using their mobile and tablet devices to perform banking transactions. The growth rate of mobile banking customers now stands stable at about 30% per year. Online banking volumes across the top 10 banks grew to more than 65 million liquid deposit account (LDA) customers, which include users of checking, savings, and money market accounts (excluding certificates of deposit).

Juniper Research experts reported mobile services becoming a fundamental component of banks’ business strategies as they respond to the current financial crisis. It’s expected that mobile banking users worldwide will reach 530 million by 2013, up from just over 300 million in 2011. The most prospective regions for further growth are North America, Eastern Europe, Southeastern Asia, and China.

Russian market holds the ground: Top Russian bank, Sberbank Rossii, reported the fourfold growth of its on-line operations in 2011 in comparison to 2010. A CNews analytical survey on remote banking services, conducted in August 2011, shows that this segment of the market is apparently experiencing an upsurge.

For several years, Auriga has been working with Russian Sberbank, Barclays, and several other leading Russian and international banks we cannot name here. We provide Automated Banking System integration, customization, and maintenance services for such systems as Oracle FlexCube and Diasoft, and we have developed a number of our own specialized solutions for financial institutions.

To stay ahead of the changing market, Auriga engineers developed a comprehensive mobile banking application for customers to manage their bank accounts, transactions, and payments. The application was created in close cooperation with banking analysts and experts. It combines the best practices of our core service lines—financial and mobile development. The app is targeted at iOS, Android, Windows Phone 7, RIM (Blackberry), and Bada platforms, and it follows the stringent security standards of private personal and banking information.

The mobile banking app possesses the following functionality:

  • ability to make all types of transactions (i.e., between users’ accounts, intrabank and interbank transactions, SWIFT transactions in different currencies, as well as payments to various service providers)
  • ability to display information related on card operations and view card and account statements
  • security module, including user authorization, permissions check, PIN code check, access lock, and secure storage for important (but not personal or payment) data (e.g., phone directory, messages, etc.) The module monitors suspicious activity and blocks access according to pre-defined rules

The application was presented at the Moscow iFin-2012 International Forum, and it kindled the interest of several Russian banks. Auriga encourages you to try the application by downloading the demo at our website. Russian-speaking subscribers should use the following link. Please contact us with any questions on installing and using the demo.

Please contact our experts for further details:

Alexey Rybakov
VP, Business Development
+1 (866) 645-1119 ext. 203
alexey.rybakov@auriga.com
skype: alexeyrybakov
 

 

 

Alexandr Videnev
Director, Business development
Finance & Banking
+7 (495) 713-9900 ext. 393
alexandr.videnev@auriga.com
skype: videnevaleksandrer

Mobile Services from Auriga — It’s Time for You to Become a Leader in Mobile

Auriga, the number-one engineering services provider worldwide (as rated by Datamonitor), urges to focus on mobile platforms in your business applications portfolio.

In 2010, the mobile segment took a whopping 34% share of venture capital (VC) investment. Figures are yet to be released for 2011, but indications are strong for a further increase in this already dizzyingly high figure. Hard-nosed VCs don’t often make rash investments, and when a clear trend in their collective behavior develops, you can be sure that it is on the back of extensive market research. If that data is not convincing, check the well-known predictions about the weight of mobile traffic in the future communications picture—see our previous article on the subject.

With the rapid global proliferation of smartphones and tablets, E-commerce and E-marketing are becoming firmly entrenched as the key drivers for business growth in the second decade of the new millennium. Moreover, longstanding loyalties are gone with the wind as legions of consumers turn to whoever offers the fastest, easiest, and most innovative mobile applications for this new paradigm.

To put it simply, NOW is the time to establish a leading position in mobile commerce for your market area. You can be sure that as you read this article, the most successful businesses in the world are devising entry barriers to protect their positions and secure future market share. As with previous game-changing innovations, a dollar spent on market position in the early stages is worth hundreds spent after the dust settles.

Choosing the right partner for the task is as important as understanding the urgency of the challenge. Auriga has the combination of mobile development expertise and non-technology features required to make any software outsourcing project a success—a results-oriented and communications-intensive approach, an engineering-minded talent pool, and business and technical flexibility. We have been providing services for technology companies for over 21 years, and we are well aware of the ingredients needed for success.

For your product, Auriga offers support for additional mobile platforms—whether you already have some covered and need to embrace new platforms or are starting your first initiative to enter the mobile world. We have expertise in all major mobile/smartphone/tablet platforms, with experience in everything from maps and geo-positioning to multimedia streaming and cloud storage support, from shining UI to system internals and protocols support. We have developed e-mail clients and mobile videoconferencing solutions as well as smartphone banking clients and mobile applications for auto dealerships, mobile sales assistants, and taxi call apps – including the mobile part itself and all integration with network services (in some cases, including the network services themselves).

In 2009, based on a technology trend analysis, we launched Mobile as a separate core business line. And due to the factors described at the beginning of this article, the mobile area, an established practice at Auriga, is now one of the most rapidly growing—it has shown 2X year-on-year growth, and each year, we take on exciting new clients, like Yandex or Chrysler, who need mobile services.

To learn more about what we do, and what we can do for you, please visit our new mobile site: http://auriga.com/mobile/ or contact

Alexey Rybakov
VP, Business Development
+1 (866) 645-1119 ext. 203
alexey.rybakov@auriga.com
skype: alexeyrybakov