Business Editors
BROOKFIELD, Wis.
--(BUSINESS WIRE)--
--
Fiserv, Inc.
(NASDAQ: FISV), a leading provider of information technology services to the financial industry, today launched Fiserv Mobile Money SM, the industry?s most complete mobile banking and payments solution, because it supports consumers on all three mobile access modes - short messaging service, (SMS), wireless application protocol, (WAP), and downloaded mobile applications, offers online and offline enrollment capabilities and integrates with core banking, online banking and electronic payments systems. The new solution, available for the first time today, builds upon existing
Fiserv
mobile banking options already in the market and adds a strategic technology to help all segments of financial institutions.
Powered by technology from
New Zealand
-based
Mobile Commerce Limited
(M-Com), Fiserv Mobile Money enables organizations to reach more consumers through its native support for SMS, WAP, and downloaded mobile applications. In addition, the solution is unique because it allows financial institutions and billing organizations to drive enrollment of offline customers to a more profitable mobile banking relationship. Consumers can enroll via a mobile device, at a branch, ATM or customer contact center, as well as via the online channel.
Fiserv
will also support certain marketing campaigns and research aimed at driving adoption and usage within this emerging channel.
?Mobile banking holds great promise as a unique channel that offers customers the ability to manage their money anywhere, anytime, while enticing new customers and making existing customers more loyal,? said
James Van Dyke
, president and founder of Javelin Strategy & Research. ?We see 2008 as a pivotal year for the emergence of mobile banking and payments, particularly as more end-to-end, enterprise solutions start to take hold in the marketplace.?
Fiserv?s scalable mobile banking and payments solution can integrate seamlessly with a variety of core banking systems, online banking systems and electronic payments systems. It is designed to leverage a financial institution?s or biller?s existing online security infrastructure, including existing credential management capabilities. In addition, Fiserv Mobile Money offers consolidated customer care and reporting across both the online and mobile channels, potentially lowering the total cost of ownership and enabling a broader view of the customer?s needs when they contact the financial institution for service or support.
?This is a great example of
Fiserv
2.0; using resources across our business units to develop innovative products that help our clients achieve best-in-class results. Fiserv Mobile Money is the result of hard work from our integrated teams representing both
Fiserv
and CheckFree. We are continuing our mission to be the leading provider of technology products and services to the financial services industry, bringing the best solutions to this emerging channel,? said
Jeffery Yabuki
,
Fiserv
President and Chief Executive Officer.
Financial institutions will have the flexibility to deploy the
Fiserv
mobile banking and payments solution as a hosted solution or as software that can be managed and run in-house. The solution is available today via an in-house solution for the top 200 financial institutions. A hosted version is expected by mid-2009.
?Fiserv Mobile Money helps financial institutions optimize customer relationships either through deepening existing online banking relationships or through driving offline customer relationships to a more profitable mobile banking and payments relationship,? said
Steve Olsen
,
Fiserv
group president, Internet Banking and Electronic Payments. ?This ultimately helps institutions of all sizes to maximize their mobile return-on-investment.?
To that end, Fiserv Mobile Money?s multi-channel enrollment capabilities have proven effective as a means to attract more offline customers to the mobile channel, which has a lower cost to serve than other channels. For example, a Fortune 500 New Zealand bank that currently uses the M-Com solution, annually saves up to
per customer when it drives these customers from an offline relationship with the bank to a mobile banking relationship. The bank achieves this result even though more than 40 percent of its customers are not online banking users.
Fiserv Mobile Money runs on established mobile banking and payment technology from M-Com, whose mobile solutions are used by some of the largest financial institutions in the world, including
Washington Mutual, Inc.
,
ANZ Banking Group
,
Westpac Banking Corporation
,
Electronic Transaction Services Limited
(Paymark) and GE Money, among others.
?This strategic alliance combines Fiserv?s strong leadership in payments processing, innovation, operational excellence and execution with M-Com?s proven mobile banking and payments technology and innovation,? said
Adam Clark
, founder and chief executive officer of M-Com. ?Together, we will provide the most complete solution in the industry, giving financial institutions and billing organizations a path toward unlocking the promise of mobile payments.?
In addition, key personnel from
Fiserv
and M-Com are working together in the
Fiserv
campus in
Norcross, Ga.
, to develop and deliver the next generation product - the industry?s first single-platform, scalable mobile banking and payment solution that integrates seamlessly with online banking, bill payment and core banking systems.
About M-Com
Founded in 2000,
Mobile Commerce Limited
(M-Com) is an international mobile banking and payments solution provider with live Fortune 500 banking customers in
Asia Pacific
and the
USA
, including
Washington Mutual, Inc.
ANZ Banking Group
,
Westpac Banking Corporation
, Paymark and GE Money. M-Com?s core proposition is centered on delivering world-class adoption metrics for the mobile channel for financial institutions, while reducing the total cost of ownership for retail banking channels. For more information, please visit
www.m-com.us
About
Fiserv, Inc.
Fiserv, Inc.
(NASDAQ: FISV), a Fortune 500 company, provides information management and electronic commerce systems and services to the financial and insurance industries. Leading services include transaction processing, outsourcing, electronic bill payment and presentment, investment management solutions, business process outsourcing (BPO), software and systems solutions. Headquartered in
Brookfield, Wis.
, the company is the leading provider of core processing solutions for U.S. banks, credit unions and thrifts.
Fiserv
was ranked the largest provider of information technology services to the financial services industry worldwide in the 2004, 2005 and 2006
FinTech
100 surveys. In 2007, the company completed the acquisition of CheckFree, a leading provider of electronic commerce services.
Fiserv
reported nearly
in total revenue from continuing operations for 2007. For more information, please visit
www.fiserv.com
.
(FISV-G)
Fiserv Internet Banking and Payments Group
Sheryl Roehl
Director, Public Relations
678-375-1682
saroehl@checkfree.com
or
Fiserv Corporate Contact:
Fiserv, Inc.
Lori Stafford-Thomas
Assistant Vice President Corp. External Comm.
262-879-5130
lori.stafford@fiserv.com
State Keywords:
Wisconsin
Industry Keywords: Technology; Data Management; Internet; Networks; Software; Telecommunications; Other Technology; Security; Wireless; Professional Services; Banking; Finance; Other Professional Services
Source:
Fiserv, Inc.
