The mobile banking software vendor mFoundry Inc. has developed a version of its software compatible with Apple Inc.'s iPhone device.
The Sausalito, Calif., vendor said Wednesday that it plans to offer the software as a stand-alone product or to supplement existing bank services that support other phone models. Users of iPhones will be enabled to download the application through Apple's online service within a few weeks, and any bank that wants to offer it could have a version ready for customers within 60 days after signing up with the vendor.
Users of iPhones typically are young males, mFoundry said; they earn more than $100,000 annually and are among the heaviest consumers of digital content through their phones, traits that make them a good fit for mobile banking technology.
"Offering mobile banking services, especially via the iPhone, is a great, affordable way for financial institutions to acquire new, younger, affluent customers," Drew Sievers, mFoundry's co-founder and chief executive, said in a press release.