After a slow start, the proliferation of smart phones and Web 2.0 technology has prompted a deluge of consumer and business finance applications. The Banker profiles 10 of the best. Writer John Beck

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Chase Mobile

A mobile banking application is now available from just about every consumer-facing financial institution, but not all banking business is conducted online and paper instruments are still common in some regions. In the US, where cheques make up a relatively large proportion of transactions, Chase has launched an application for Apple's iPhone which combines high- and low-tech, by allowing customers to pay paper cheques into their account electronically.

The remote deposit application, which requires customers to take a picture of the front and back of an endorsed cheque, is the first of its kind to be offered by any of the Big Four banks in the US, although USAA launched a similar application in 2009.

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Boku Payments SDK

Apple's iPhone has become the archetypal smart phone, but handsets running Google's Android operating system have proven to be enormously popular in recent months, and sales have now outpaced those of Apple's device in the US.

Android application functionality has lagged, however, although things are changing. Boku, for example, recently launched an in-app purchases tool - something which has been available on the iPhone for more than a year - allowing developers to monetise Android apps with carrier billing. Micro-payments can be made without requiring credit card details or other financial information and charges are applied to the user's monthly phone bill.

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Square

Apple's iPad generated vast levels of both hype and sales when it launched back in April. Eager consumers snapped up 3 million of the tablet devices in the first 80 days of launch on the strength of its abilities as an e-book reader, mobile gaming device or internet browser. But it has business uses too, and with Square it is only an application away from acting as a cash register.

Square comes with an external card reader that allows users to take credit card payments. Customers can sign a virtual signature on the iPad's touchscreen and Square then generates e-mail or SMS receipts and calculates the sales tax. It also allows businesses to track sales via an online accounting dashboard.

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WePay

Collecting, managing and spending money as part of a group of people is fraught with difficulties, as anyone who has tried to pay for a holiday with friends or pester housemates for rent or bills will have discovered. A solution is provided by WePay, which allows users to set up a group FDIC-insured account for a specific function or event.

An account administrator for the group can set the amount and terms of the payments, and send a bill or request for payment to other members, while WePay will process the payment and even send reminders to members of the group who have not coughed up. Payments can then be made from the account with a prepaid WePay Visa card, online transfer or the more traditional option of a paper cheque.

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Straight2bank

Mobile banking apps are offered almost universally in the consumer world, but the options are far more limited for corporate or business users. However, things are starting to change. Standard Chartered, for example, claims to be the first bank to offer its corporate and institutional clients an application for mobile payment authorisation.

Clients of Standard Chartered's Straight2Bank corporate banking platform can access electronic banking facilities and authorise financial transactions locally and across geographic boundaries via their mobile phones. Customers will receive authorisation requests (complete with reference ID, payment type, amount and beneficiary name) to their mobile device and, upon confirming the payment, will receive confirmation direct to their phone.

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Zopa

When looking for a loan, avoiding the bank altogether might seem like rather a tempting proposition. Online marketplace Zopa enables customers to do just that. The website - which was first launched in the UK and is now available in the US, Japan and Italy - matches people looking for a personal loan with investors, completely sidestepping traditional financial institutions.

Zopa claims this approach allows it to offer more competitive rates for lenders and borrowers alike. Using the firm's 'social lending' model, investors make offers allowing borrowers to take advantage of rates which meet their needs. In return, borrowers enter into legally binding contracts with their lenders and repay monthly by direct debit.

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Daily finance iPhone App

There are many options available for iPhone sporting investors and market followers, but those on a tight budget might be particularly interested in downloading DailyFinance's free application.

For users requiring up-to-date information, the app provides real-time stock quotes from BATS Exchange (as well as 15-minute delayed quotes from NYSE, Nasdaq, and AMEX) and the ability to customise and track news from more than 3000 sources. Stock prices and market data are automatically refreshed every 30 seconds, while intra-day charts and market news headlines refresh every two minutes. Tracking for multiple portfolios and watch lists is also on offer, as are interactive charts which can be used to track the current and historical performance of investments and compare them against peers and market benchmarks.

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Mint.com

With more than 1 million users, online money management and budgeting site Mint.com could well be the most popular of the current crop of banking applications. It claims to track $175bn in transactions and $47bn in assets as well as identifying more than $300m in potential savings for its US-based users.

The website - which was acquired by software firm Intuit in 2009 - can connect with almost every online bank, credit union and credit card account in the US, allowing users a complete picture of their finances. Mint.com can also identify potential savings by searching through offers for credit cards and accounts with better rates.

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Obopay

Using a mobile phone to send, receive or spend money almost instantly might sound hi-tech, but the idea behind Obopay occurred to Carol Realini, the firm's founder and CEO, while volunteering in Africa. She noted that even in remote, developing countries, people often carried a mobile phone even if they did not have a wallet.

Obopay allows the transfer of money between mobile devices via SMS, mobile app or internet browser with a fee being levied to the payment originator. Working with Société Générale's Senegalese subsidiary, it recently launched the first stage of a scheme designed to bring mobile payment services to banked and unbanked customers who have access to a mobile phone.

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E*trade mobile pro

Financial services firm E*Trade has offered online brokerage, investing and related banking services to retail investors for several years, but it has recently made the move to mobile platforms too. The firm's Mobile Pro application is available for Research In Motion's Blackberry as well as Apple's iPhone, iPod Touch and iPad.

Mobile Pro allows customers to access their bank and brokerage accounts, view stock and options quotes in real time, as well as orders, alerts, charts, watch lists and portfolios. It also offers live news streams provided by CNBC. Finally, and perhaps most importantly, investors on the go can trade stocks during regular market and extended hours sessions.

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