Survey Shows High Demand for Corporate Mobile Banking Around the Globe

Sibos, Amsterdam, The Netherlands - 26 October 2010

Aite Group and Fundtech release report indicating 65% of treasurers interested in adopting mobile services and over half willing to pay for them.

Fundtech Ltd., a market leader in global transaction banking solutions, and Aite Group, a leading independent financial research and advisory firm, today released "The Business Case for Offering Corporate Mobile Banking Services,"
based on the findings of a global survey of treasury executives.

The report is based on an October 2010 survey of over 300 treasury executives worldwide. The survey revealed high demand amongst treasurers for mobile corporate banking services, with approximately two-thirds of businesses at least "somewhat likely" to use mobile corporate banking services to perform basic transactions such as checking balances or transferring funds. Over 40% of respondents described themselves as "likely" or "very likely" to do so. Even more importantly, over 55% of treasurers expressed interest in performing more advanced functions such as approving transactions and initiating payments via a mobile device.

Mobile banking technology has primarily been offered to the consumer/retail channel but survey results indicate that corporate mobile banking presents a new, untapped opportunity for banks.
Interestingly, approximately 49% of businesses are willing to pay for the convenience of mobile cash management capabilities, pointing toward the ability for banks to generate fee-based revenues to cover some of the cost associated with this kind of technology investment.

Christine Barry, Research Director at Aite Group and author of the report, comments, "Although banks have been slow to extend mobile corporate banking to their business customers, the survey findings clearly indicate that there is growing demand for this kind of service.
What was most surprising was the percentage of respondents who would pay for such a service. In an environment where banks need to identify innovative new ways in which to attract and retain clients, now may be the right time for banks to consider investing in mobile banking platforms for their corporate customers."

Other survey findings included:
- The largest opportunity for corporate mobile banking exists among middle-market customers (annual revenues up to $10billion)
- Security is a concern for more than 65% of treasury executives
- Half of treasury executives surveyed view anytime, anywhere access to banking information as the primary benefit of corporate mobile banking

Fundtech is launching Mobile ACCESSplus, the first mobile platform designed specifically for corporate electronic banking. Mobile ACCESSplus is an extension to Fundtech's Services Platform, a rich SOA (Services Oriented Architecture) platform designed for transaction banking. Banks can now take advantage of Fundtech's groundbreaking new platform to extend corporate mobile banking services to their business customers.

"The survey findings validate what we have been hearing from CFOs and treasurers for some time now and the reason why we are launching Mobile ACCESSplus," comments Rhys Jones, Head of Innovation at Fundtech. "With executives constantly on the road or away from their desks, they need to be able to perform both basic and advanced functions on a mobile device to make sure workflow is uninterrupted and operating smoothly. We're excited to be first to market with the only corporate mobile banking platform in the industry and look forward to rolling out these innovative new services in partnership with our banking clients."

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