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News of the Competition (01/04/2013)
MADISON, Wis. (1/4/13)

  • Wells Fargo and Ally Bank are using smart phone cameras to drive mobile banking growth. Wells Fargo recently expanded its mobile remote deposit app nationwide, following a successful pilot in which more than one million checks were deposited in two states over six months (American Banker Jan. 3). The bank seeks to offer a suite of "mobile unique" services in which smartphone cameras can be used to snap photos of information, said Brian Pearce, senior vice president and head of the retail mobile channel in the digital channels group at Wells Fargo. Ally late last year added remote deposit capture  to its mobile banking app. Ally views the mobile channel as an extension of the desktop platform, said Diane Morais, a deposit executive for Ally …
  • Experian has transformed quarterly consumer credit data into a Web-based searchable database called IntelliView. The new tool  provides data in seven categories: bank card, retail card, automotive, first mortgage, second mortgage, home equity line of credit and personal loans (American Banker Jan. 3).  The Web query analysis and reporting tool can be accessed through a Web browser. Previously, professionals making credit decisions had to pour through hundreds of pages of text and charts …
  • Hybrid credit and debit cards do not appear to be living up to their promise based on preliminary pilot tests, the American Banker (Jan. 3) reported Thursday. A lack of appeal among consumers and the introduction of more technologically sophisticated alternatives have caused banks to think twice about offering full market rollouts of hybrid cards. One exception is Fifth Third Bank, which has found success with its Duo card. Duo accounted for about 25% of new monthly credit card accounts, the bank said …


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