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Fifth Third Bank enhances mobile banking features to on-the-go consumers

The company partnered with ClairMail to use its mobile banking technology. Using the new technology, Fifth Third Bank will be able to connect to multiple financial systems and future-proof their mobile powered offerings.

“Financial Institutions are beginning to see the true value of the mobile device as an essential communications channel for delivering real-time mobile services and giving the consumer more control over their personal finances,” said Carl Tsukahara, chief marketing officer of ClairMail.

Fifth Third Bank operates 16 affiliates with 1,311 full-service banking centers, including 103 Bank Mart locations open seven days a week inside select grocery stores and 2,433 ATMs.

ClairMail provides the mobile Web banking functionality on several hundred handsets, including Apple’s iPhone, with its proprietary device detection technology that delivers an optimized user experience based on each device’s specific capabilities.

Mobile control
Fifth Third Bank customers can take control over their personal finances via the company’s mobile site, SMS alerts and application.

Consumers can perform various activities such as check their account balances, perform account transfers and view transaction history.

The Fifth Third Bank mobile site

Additionally, customers can sign up for personalized alerts and check which preferences they want to be alerted with, including low-balance thresholds or event occurrences that activate alerts.

The company decided to enable the service after increased customer demand.

“While 2010 was the year that mobile banking broke into the mainstream to enable basic account management functionality such as checking balances and transferring funds, 2011 will be the year that banks capitalize on the full potential of the mobile channel by extending it across multiple lines of business to generate new revenue, reduce costs and increase customer engagement,” Mr. Tsukahara said.

Final Take
Rimma Kats is editorial assistant on Mobile Commerce Daily, New York