The Javelin report credited key acquisitions of M-Com and CashEdge by Fiserv for bringing strategic mobile services in-house.
"Fiserv made a number of strategic mobile acquisitions in the past 12 months to enhance its organizational edge and mobile capabilities," said Mary Monahan, executive vice president and research director, Mobile, Javelin Strategy & Research. "These acquisitions combined with other strategic partnerships give Fiserv's newly renamed and repackaged Mobiliti(TM) mobile solution the bandwidth to offer advanced functionality and money movement capabilities."
The Javelin report found consumer use of mobile banking grew 60 percent over the past year and concluded mobile banking offerings have moved from a "nice-to-have" to a "must-have."
While Javelin acknowledged that one of the biggest barriers to consumer adoption remains security concerns, they noted that technology providers have an opportunity to take advantage of the "personalized, always-with-you nature" of mobile phones to offer enhanced security features not available in other channels. Javelin gave Fiserv the highest score available in the security category based on an evaluation of security, back office, and alerts and advanced functionality capabilities.
"Adoption of our Mobiliti solution is accelerating as more financial institutions recognize the central role the mobile channel will play in customer relationships," said Erich Litch, division president, Digital Channels, Fiserv. "Fiserv will build on our consistent leadership in this channel by delivering new mobile capabilities and more value for our clients as we move into 2012."
Mobiliti from Fiserv is available in multiple distinct versions tailored for use by financial institutions of varying sizes within both the United States and international markets. Mobiliti supports all three major mobile access modes, SMS (text messaging), mobile browser and downloadable applications for Android(TM), iPhone(R) and Blackberry(R), and seamlessly integrates banking and payments capabilities.
The Javelin Strategy & Research 2011 Mobile Banking Vendor Scorecard is based on data collected during March, July and August 2011 in surveys with over 10,000 consumers. The data is also based on information collected through executive interviews with six financial institutions and 17 vendors.