Fiserv, announced that
Cleveland-based KeyBank, has
chosen Mobile Money from Fiserv for its mobile banking system.
Mobile Money provides KeyBank with "triple play" technology that
enables consumers to access their accounts using any of the three
primary mobile access modes: a downloaded application, mobile browser,
or SMS (text messaging). The text messaging capabilities are provided
by VeriSign Messaging and Mobile Media, which successfully delivered more than 224 billion mobile messages through its networks in 2008.
KeyBank's selection of a mobile enterprise financial services
platform from Fiserv is consistent with recent recommendations from
market analysts and commentators. The recent report, How to Get Started with an Enterprise Mobile Retail Financial Services Approach,
published by Gartner, suggested that banks and credit unions who select
vendors that deliver enterprise channel solutions are more likely to
effectively manage the long term costs of the mobile channel, while
maximizing channel adoption and usage across all customer segments
M-Com and Fiserv announced their technology partnership in September 2008 under the label Mobile Money from Fiserv. The Mobile Money solution combines banking and payments capabilities, and includes functions such as balance inquiries, transaction history, account transfers, bill payments and one and two-way account alerts. Informational services such as an ATM and branch locator are also included.
The agreement to use Mobile Money deepens the existing relationship between KeyBank and Fiserv. The bank currently utilizes Fiserv solutions for online bill payment, cash and logistics, revenue enhancement, investment services and business banking.