Texting alerts to consumers is one of the gateways to broader mobile financial services, and mFoundry recently added substantial scope to its messaging functionality by entering into a joint agreement that leverages Clickatell’s SMS delivery services.
As many as 8,300 customers of Clickatell’s carrier-grade mobile messaging service will be available to mFoundry. Clickatell will provide text banking SMS message delivery for mFoundry’s mobile banking product, which offers integrated SMS, WAP and mobile applications including native support for iPhone and iPod Touch.
In a statement, mFoundry CEO and cofounder Drew Sievers said Clickatell was the only messaging company that “started specifically to deliver enterprise level solutions,” with carrier access that gives community and regional banks expanded levels of coverage.
SMS is often used by financial institutions and card companies as a means to provide automated reminders that help consumers track and manage their finances. Discover, for example, last week introduced an SMS product that allows customers to receive any of eight activity reminders via a text message or email, including statement availability, payment posted, balance transfer posted, merchant credit or refund posted, minimum payment not received, purchase or balance exceeds a predetermined amount, or nearing account limit.