FIS teamed with ClairMail and mFoundry to provide one of the most advanced and comprehensive mobile banking offerings in the market that includes an industry-leading iPhone-certified downloadable application and a best-of-breed mobile web solution optimized for the iPhone. The FIS-ClairMail-mFoundry alliance, which offers a choice of the most advanced mobile solutions to banks and credit unions of all sizes, continues to gain momentum with additional customers expected to be announced in the coming months.
FIS Mobile Banking and Bill Pay is a comprehensive two-way banking and payments solution that encompasses the three modes of mobile banking known as the "triple play:" SMS/text banking and alerts, mobile Web and downloadable application. This full-service mobile banking and payments solution addresses the varied needs of all consumers and allows financial institutions to target different segments of their consumer base with the most appropriate mobile banking offering.
"This product represents the future of banking and demonstrates how technology is now interwoven into customer communication channels," said Carol Nelson, president and chief executive officer, Cascade Bank. "Customers have the bank at their fingertips, wherever they are, taking convenience to the next level."
At 1st National Bank of Scotia, plans are to make the service available to customers already banking online and those signing up for the bank's new student checking account, which encourages electronic access.
"All banks will need to offer mobile banking services," says John Buhrmaster, president, 1st National Bank of Scotia. "It will become part of the fabric of banking."
"The launch of FIS Mobile Banking for 1st National Bank of Scotia and Cascade Bank not only illustrates the demand for a secure and comprehensive mobile banking and payments solution," said Anthony Jabbour, executive vice president for FIS Core Processing and e-banking, "but it also levels the service-offering playing field by enabling financial institutions of all sizes to offer this highly sought-after service. The FIS-ClairMail-mFoundry alliance continues to receive tremendous response in the market from our customers, with every indication that mobile banking will continue to be a priority."
TowerGroup estimates that every month through the first quarter of 2009, between 150 and 300 banks and credit unions in the United States will sign contracts for mobile banking solutions. Mobile banking will surpass six million users by the end of 2008, and TowerGroup forecasts 42 million U.S. active users of mobile banking by 2012.