Firethorn Holdings LLC, a unit of Qualcomm Inc. of San Diego, has landed a deal to offer its mobile banking software to the 2,880 financial institution clients of Fifth Third Bancorp's transaction processing unit.
Fifth Third Processing Solutions of Cincinnati will make the software available to its clients next year, Firethorn said Monday.
"We see this relationship as more than reselling Firethorn's products," Angela Brown, a senior vice president of the Fifth Third unit and its general manager of financial institutions services, said in a Firethorn press release.
By working with Firethorn, Fifth Third hopes to speed up the adoption of mobile banking and mobile commerce, Ms. Brown said.
Fifth Third Processing Solutions processes more than 26.7 billion automated teller machine and point of sale transactions annually. Its customers include the Armed Forces Financial Network, First Niagara Financial Group, and Sovereign Bancorp Inc.