You can tell a lot about the promise of a technology based on the companies that invest in its growth. Mobile banking platform vendor mFoundry announced another feather in its cap, and money in the bank this morning, releasing the news that Banc of America Strategic Investments Corp completed a strategic investment in the company, joining an impressive roster that already includes Motorola, NCR, Apax Partners and PayPal.
“Mobile banking is a critical channel for our customers now and into the future….this investment further solidifies the importance of having a strong mobile banking platform,” says Lance Drummond, eCommerce and ATM executive at BofA, in the press release.
Bank of America is the acknowledged leader in mobile banking, with more than 1 million active users. And tech vendor mFoundry has established critical mass in the industry, working with financial heavyweights like Citigroup, PayPal, BB&T and Fidelity National, along with leading-edge tech adopter PSCU.