- Eleven percent of FirstMerit active online banking users enrolled in mobile banking within first week of launch
- FirstMerit implemented Mobile Money within 120 days, from project start to launch
- Mobile Money selected due to strong product capabilities, roadmap and ability to integrate with existing back-end systems
Fiserv, Inc. (NASDAQ: FISV), the leading global provider of financial services technology solutions, announced today that FirstMerit Bank has launched its mobile banking solution using Mobile Money(TM) from Fiserv. After making the decision to launch its mobile solution, FirstMerit moved decisively, completing the implementation process from start to finish in 120 days. The new service launched in early August, and within the first week approximately 11 percent of active FirstMerit online banking users had enrolled. FirstMerit Bank is a subsidiary of FirstMerit Corporation (NASDAQ: FMER), a $14.3 billion diversified financial services company headquartered in Akron, Ohio.
"We were looking for a mobile banking solution that would integrate easily with our existing systems and allow us to get up and running quickly," said Julie Tutkovics, senior vice president and chief marketing officer, FirstMerit Corporation. "The Fiserv project team was very knowledgeable and made the implementation process a smooth one. Fiserv also helped us develop a launch strategy via their adoption marketing services program and put us in contact with other banks that had already gone through the process, which was invaluable. The tremendous customer adoption we've seen reaffirms our decision to launch mobile banking."
FirstMerit is using Mobile Money FastTrack(TM), an off-the-shelf version of Mobile Money that enables financial institutions to offer popular mobile banking features within a condensed implementation timeframe. FirstMerit customers can access the new mobile banking service via an AndroidTM, iPhone(R) or Blackberry(R) application, or via SMS (text messaging). With the FirstMerit mobile application and SMS texting, customers can view account balances and history and find FirstMerit branches and ATMs. The secure mobile application also allows users to transfer funds between FirstMerit accounts. Beginning in September, users will be able to take advantage of bill payment capabilities. More information is available at www.firstmerit.com/mobile.
FirstMerit selected Mobile Money due to the existing Fiserv product capabilities and strong future roadmap, which will support the expansion of FirstMerit mobile banking. While FirstMerit mobile banking is currently available to online banking users, the bank plans to expand their enrollment capabilities to ensure mobile banking is available to offline customers as well.
"FirstMerit understands that mobile banking is quickly becoming a core element of the customer relationship," said Erich Litch, division president, Digital Channels, Fiserv. "Mobile Money FastTrack is host-system agnostic, providing FirstMerit with the ease of integration they needed, while enabling them to customize branding and user-experience elements. These qualities allowed the bank to quickly launch a highly functional solution that can grow along with their customers' needs."