The Atlanta technology vendor S1 Corp. has started offering a mobile phone banking application to the companies that use its online banking software.
The S1 Mobile Banking software, which is available in both in-house and hosted versions, lets people check balances, transfer funds, and view recent transactions through a mobile device, S1 said Tuesday.
Mobile banking capabilities have generated significant buzz this year, and numerous financial companies, including Citigroup Inc., Bank of America Corp., and Synovus Financial Corp., are already offering similar offerings.
S1's application is based on software the company has licensed from Fundamo, a privately held South African mobile banking and payment software provider.
S1 will be competing with several other software vendors in this space, notable Firethorn Holdings LLC, of Atlanta, and mFoundry Inc. of Sausalito, Calif. S1 said that it would have a built-in market among the banks that are already using its online banking applications.
"We believe it is essential to deliver a mobile banking solution to our financial institution customers that is fully integrated into our core platform and applications," Jan Kruger, the president of S1's enterprise division, said in a press release.
