Software enables mobile banking on hand-held devices.
Press Release Summary:
Developed for community bank clients to help them expand their financial offering, Premier Mobile Banking enables users to manage their accounts anytime and anywhere. Operating on browser embedded in web-enabled handheld devices, web-based application is carrier-independent. Banking customers can check account balances, view recent transactions, receive alerts, and transfer funds between accounts in real time with their cell phone or PDA.
Original Press Release:
Fiserv Announces Launch of Integrated Mobile Banking for Handheld Devices
Web-based application offers America's banks a competitive advantage
Brookfield, Wis., March 13, 2008 - Information Technology, Inc. (ITI), a business unit of Fiserv, Inc. (NASDAQ: FISV), a leading provider of information technology services to the financial industry, has announced the launch of Premier Mobile Banking, an integrated mobile banking solution that gives customers the convenience of managing their accounts anytime and anywhere. Operating on a browser embedded in handheld devices, the product is both carrier-independent and compatible with any web-enabled device. Banking customers are able to check account balances, view recent transactions, receive alerts and transfer funds between accounts in real time with their cell phone or PDA.
With these mobile devices in almost every hand in America, consumer demand for banking services using cell phones and PDAs is rapidly increasing. This newest form of self-service banking is intended to give financial institutions a competitive advantage, helping them acquire and retain customers, and especially the younger consumers who lead the market in demand for mobile services.
United Bank of Michigan, Grand Rapids, Mich., with assets of $421 million, implemented the Fiserv ITI mobile banking solution in October 2007. "United Bank of Michigan strives to be a technology leader within the community bank market," says Tim Lockwood, senior vice president and chief information officer, United Bank of Michigan.
According to Lockwood, the bank's decision to offer mobile banking was based on strategic considerations and competition. Other major national banks in their market were about to release similar services.
The response from United Bank of Michigan customers and employees has been encouraging. While customer demand prior to implementation was limited, Lockwood says that mobile banking activity has built significantly in recent weeks, and virtually every new customer now chooses this service.
"Cellular technology is quickly evolving and the demand for mobile banking will grow rapidly in the next several years," says Lockwood. "Mobile banking has provided customers with another access channel and an added level of convenience."
Premier Mobile Banking's additional selling points include simplified menu navigation, comprehensive security and a consistent view of accounts, whether accessed from a PC or mobile device. The application can be private-labeled by Fiserv core banking business units to sell into their Internet banking client bases, and is currently being implemented by both Fiserv ITI and Fiserv VISION.
"This technology was specifically developed for our community bank clients to help them expand their offerings and compete effectively against even their largest competitors, and more than two dozen have already licensed this innovative product," says Tom Cypher, ITI president and chief executive officer. "About 83 percent of Americans now subscribe to a cellular phone service, and Fiserv ITI intends to deliver even more opportunity and value to financial institutions by capitalizing on this important service channel." ITI offers mobile banking services to clients using either Premier® or PCS Vision(TM), the company's two popular core product suites.
About Information Technology, Inc. (ITI)
Serving more U.S. banks and savings institutions than any other vendor, ITI offers several core solutions for either outsourced or in-house account processing, including the SOA-based Premier® and PCS Vision(TM) suites. The company's highly scalable software and advanced consulting services support virtually every banking function, including core accounting, branch and Internet banking, business intelligence, risk and compliance, remote capture and transaction management, enterprise business process and content management - all available on the industry's most popular hardware platforms for financial institutions of all types and sizes. A business unit of Fiserv, ITI can be found on the Internet at www.itiwnet.com.
About Fiserv, Inc.
Fiserv, Inc. (NASDAQ: FISV), a Fortune 500 company, provides information management and electronic commerce systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, electronic bill payment and presentment, investment management solutions, business process outsourcing (BPO), software and systems solutions. Headquartered in Brookfield, Wis., the company is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts. Fiserv was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006 FinTech 100 surveys. In 2007, the company completed the acquisition of CheckFree, a leading provider of electronic commerce services. Fiserv reported nearly $4 billion in total revenue from continuing operations for 2007.
For more information, please visit www.fiserv.com.
For more information contact:
David Carden
SVP, Marketing & Communications
Fiserv ITI
402-421-4211
david.carden@iti.fiserv.com
Additional Contact:
Judy DeRango Wicks, APR
Vice President, Corporate Communications
Fiserv, Inc.
678-375-1595
jdwicks@checkfree.com
