Fiserv, Inc., the
financial services technology solutions, introduced Mobile Money
straightforward mobile banking solution that can be rapidly deployed by
Mobile Money FastTrack, a streamlined version of the flagship Mobile MoneySM
introduced by Fiserv in 2008, delivers essential mobile banking features
packaged solution that can be enhanced as the mobile channel matures.
Mobile Money FastTrack can provide âtriple playâ technology that enables
access their accounts using any of the three primary mobile access
SMS (text messaging) or a downloaded application. The solution combines
payments capabilities, and includes functions such as balance inquiries,
account transfers, bill payments and one and two-way account alerts.
such as an ATM and branch locator are also included.
Available in an in-house or hosted version, Mobile Money FastTrack is a
targeted toward mid- to large-sized financial institutions. The solution is
select Fiserv banking products, and mobile browser and SMS-based mobile
functionalities can be implemented within 90 days for many financial
Money FastTrack features around-the-clock deployment support and
practices such as data encryption, along with additional risk management
âThe business value enabled by mobile financial services will evolve as
financial products and services that can be delivered through their mobile
devices,â said Stessa Cohen, research director, Gartner, Inc. and co-author of the April 2009 report
Vendors’ Ability to Support a Mobile Financial Services Strategy.â âBanks should
mobile financial services technology based on their capability to support not only
functionality, but also enterprise mobile financial services functionality and
requirements. Creating an enterprise mobile financial services strategy that serves
and long-term business goals will enable the bank to keep pace with functional
development as well as volatile market dynamics.â
Rather than simply duplicate online banking capabilities, Mobile Money FastTrack is
address the specific needs of mobile banking users via features such as two-way
alerts. Additionally, the exclusive RenderRightâ¢ technology utilized by Mobile
automatically customizes the user interface for the consumerâs mobile device,
financial institution to reach any consumer, on any network, on any device. The
downloaded application technology also supports mobile banking on high profile
as BlackBerryÂ® smartphones and the AppleÂ® iPhoneâ¢.
Mobile Money FastTrack offers both online and offline enrollment capabilities.
enrollment capabilities attract more customers to the mobile channel. Once enrolled
mobile banking, customers have been shown to turn to the mobile channel for
often than higher cost contact centers and branch operations.
âIn the current economic environment, financial institutions are being strategic
investments. For those institutions looking to implement a mobile banking solution,
Money FastTrack from Fiserv provides an affordable solution that can be up and
quickly, without consuming a lot of internal resources,â said Todd Lesher,
Banking Services, Fiserv. âFinancial institutions that implement Mobile Money
begin realizing a return on investment from day one as consumers are diverted from
costly channels. In addition, institutions can have peace of mind knowing they are
capitalize on future growth in mobile banking.â
Mobile Money FastTrack from Fiserv incorporates technology from Atlanta-based M-Com
M-Com and Fiserv announced their technology partnership in September 2008 under the
Mobile Money from Fiserv. Mobile Money is the industry’s most complete mobile
payments solution, supporting consumers on all three mobile access modes, offering
and offline enrollment capabilities and integrating with core banking, online
electronic payments systems. By leveraging the combination of M-Com’s BankAnywhere
solution and Fiserv’s technology assets such as online banking, electronic billing
and fraud management tools, Fiserv delivers to financial institutions a complete
suite of multi-channel financial services.
Founded in New Zealand in 2000 and headquartered in Atlanta, GA, M-Com is an
mobile banking and payments solution provider with live Fortune 500 banking
Asia Pacific and North America. M-Com’s core proposition is centered on delivering
return on investment through world class adoption metrics for the mobile channel
providing the lowest total cost of ownership. For more information, visit
Fiserv, Inc. (NASDAQ: FISV) is the leading global provider of information
electronic commerce systems for the financial services industry, driving
transforms experiences for financial institutions and their customers.
Ranked No. 1
FinTech 100 survey of top technology partners to the financial services
celebrates its 25th year in 2009. For more information, visit