IE leverages pedigree in banking innovation and integration to help build and host platform for O2 Wallet
Intelligent Environments, a leading provider of digital banking software, today announces the delivery of its market-leading mobile wallet solution, as used in the recently launched O2 Wallet. Intelligent Environments has blended bank level security with an intuitive user interface to enable O2 to offer a range of mobile financial services such as peer-to-peer (P2P) Money Messages, online shopping, and the ability to view and manage transactions, all from one platform.
Intelligent Environments ensured the O2 Wallet was built with an open integration layer. This architecture is a core strength of IE software solutions and will enable O2 to work with IE to rapidly add features to O2 Wallet in the coming months.
IE provided the front end user experience for the O2 Wallet app for iPhone, BlackBerry and Android smartphone operating systems, as well as a mobile web version of the service. This multi-device support from IE has enabled O2 to take O2 Wallet to market with more depth and breadth than any other mobile wallet solution currently available. Uniquely, IE’s contribution to the technology enables users to securely register multiple debit or credit cards to upload funds into the account or shop from their mobile, rather than opting for a single payment instrument.
In addition to the transactional and money management features, IE oversaw the integrated social media feature of O2 Wallet which links to Facebook. This enables users to share what they are doing with O2 Wallet via their social networking, which serves as an effective yet non-intrusive viral marketing tool for O2.
With effective customer registration and activation capabilities, the O2 Wallet apps and web service are highly encrypted and conform to PCI-DSS Level 1 security standards. Intelligent Environments is fully hosting the O2 Wallet platform through a comprehensive managed service.
Andrew Tobin, Chief Technology Officer, O2 Money, said: “When embarking on this project, we knew that market-leading technology would be absolutely critical to the success of the wallet proposition and IE has exceeded our expectations. We have worked closely together to create a compelling user experience that is highly secure and intuitive and that we truly believe will lead to a step change in consumer behaviour. ‘’
“IE’s open architecture framework will allow us to expand on the features and functionalities of the wallet as it grows to offer more value-added services to customers. We look forward to continuing to work with IE in pushing the boundaries of mobile financial services innovation.”
In the past 12 months, IE has experienced significant interest in its mobile banking software solutions, culminating in the acquisition of the business in November last year led by HarborVest Partners, LLP. IE is poised for future growth to capitalise on the team’s expertise, which spans multiple industry sectors that are showing interest in wallet propositions, from banking and telecoms to the retail sector.
James Richards, Director of Mobile, Intelligent Environments, said: “We offer a scalable, commercial mobile wallet model that can be rapidly brought to market in close partnership with our clients. Our long heritage in digital banking has allowed us to successfully deliver the first stage of the O2 Wallet and we look forward to continuing to work with O2 to innovate on the platform. This is a hotly contested mobile money market and we anticipate ongoing demand for our specialist knowledge as mobile wallets hit the mainstream. ”