Fiserv launches mobile banking services for 150 credit unions
A whopping 150 credit unions are employing Fiserv Inc.’s Mobile Money mobile banking and payments offering.
Of the 150 clients who have contracted for the service, 135 are currently live. A few who have signed up for the service are Call Federal Credit Union of Richmond, VA, Merced School Employees Federal Credit Union, Merced, CA, and Atlanta-based Delta Community Credit Union.
“Savvy consumers expect their financial institutions to provide services whenever and wherever a need arises,” said Dave Selina, segment executive for Credit Union Solutions at Fiserv, Brookfiled, WI. “Mobile Money enables Fiserv clients to leverage the mobile phone in virtually everybody’s pocket to do just that.
“Mobile Money is simply another delivery channel, just like the Internet, call centers and branch offices that Fiserv clients can now use to service consumers,” he said. “By providing mobile access, banks and credit unions are deepening their relationship with customers and that leads to increased loyalty and profitability.”
Mobile Money gives credit union members the flexibility to use any mobile device to check account balances and history, transfer funds, pay bills and track account activity.
The service supports all three mobile access modes:, mobile browser and downloadable applications. Mobile Money is available as an in-house solution or hosted by Fiserv through an application service provider (ASP) model.
The ASP version of Mobile Money offers a cost-effective option requiring little administration on the credit union’s part and has received strong interest since its launch last fall.
“Credit unions are increasingly adopting Mobile Money to strengthen their competitive position through a high-value, low-cost service that appeals to a broad range of consumers, which includes Gen Y and other demographics,” Mr. Selina, said.
“As consumer demand for greater access and convenience continues to rise, Fiserv solutions like Mobile Money will continue to play a vital role in credit unions’ strategic plans,” he said.