CPNI Inc. (CPNI), provider of mobile financial services to banks, today released an enhanced version of PATbank, its mobile banking platform.
This latest release extends the ability for banks to provide mobile solutions to their retail, private banking and wealth management customers. PATbank complements CPNI's mobile payments solutions, including PATsend which allows person to person payments and PATbuy which provides for mobile purchases from merchants.
PATbank, PATbuy and PATsend combine to provide the industry's only mobile banking and ad hoc mobile payments solution on a single platform.
The latest estimates from Juniper Research suggest that the number of people accessing banking services via their mobile phones will reach 816 million by 2011, a tenfold increase from 2007.
PATbank allows Financial Institutions to securely and easily offer their existing online banking assets to their customers via a mobile phone.
PATbank delivers a range of services, such as the ability to check account balances, perform bill payments, view portfolios and find bank machines. The content, control, features and flow are bank specific and can be modified without changing or re-installing the mobile client. This lowers the cost of deployment and allows each bank to customize their competitive offering.
Banks have the flexibility to implement 1, 2, or all 3 services with a single sign-on and a single software download to the mobile phone. To make transfers or purchases, consumers simply provide the recipient's or merchant's telephone number, select a bank account or credit card and enter the amount of the transaction. Banks can also deliver personalized services for individual customers, providing direct marketing opportunities and an improved customer experience.
"Without question the penetration of PATbank will be enhanced when combined with the viral P2P offering PATsend. This provides a comprehensive bank-side mobile commerce solution," commented Patrick Bird, President and Chief Executive Officer of CPNI Inc. "As part of our integrated suite or on its own, PATbank pk provides banks with a stepping stone to the lucrative mobile payment market, the value of which is expected to grow to over $300 billion by 2013." (Juniper Research)