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Compass Plus Launches TranzWare Mobile Banking

Compass Plus, an international provider of electronic funds transfer (EFT) and retail banking technology to financial institutions, today announced the release of its enhanced TranzWare Mobile Banking product to enable its clients to provide an end-to-end mobile banking solution to a broader range of consumers.

TranzWare Mobile Banking enables banks and credit unions to expand the convenience of online banking to consumers’ mobile devices, providing access to Internet banking features such as details and statements for multiple accounts; management of debit and credit cards; bill pay functionality; person-to-person payments; and the ordering of the institution’s products and services. The platform can be accessed by any smart phone user.

To offer mobile banking to consumers who do not use advanced smart phones, Compass Plus developed MIDlet, providing all of the functions of Internet banking in an interface that is adjusted to fit the screen and capabilities of a feature-limited mobile device. Previously, consumers with these phones would need to complete singular transactions through SMS messaging, with each one incurring the cost of a text message. With mobile Internet access through MIDlet, only the equivalent cost of one to two messages is used in checking multiple account balances and making several payments.

“As consumers have come to expect constant access to personal finances, institutions have answered by providing account updates through SMS messaging alerts,” said Doug Varble, North American vice president of Compass Plus. “It has become vital for institutions to offer more robust account management capabilities through mobile banking. Compass Plus’ TranzWare software assists banks and credit unions with integrating SMS messaging outreach and end-to-end mobile banking capability, creating more points of touch with customers and credit union members to strengthen relationships.”

TranzWare Mobile Banking is the latest addition to the TranzWare suite of products built by an in-house team of Compass Plus developers. The highly flexible architecture and single-integration structure of TranzWare products enable effective use of applications in a broad spectrum of business environments, as well as easy deployment and management. All TranzWare products are PCI DSS and PA DSS compliant.