Fundtech (NASDAQ: FNDT), a market leader in global transaction banking solutions, and mobile commerce enabler Firethorn Holdings, LLC, a Qualcomm company (NASDAQ: QCOM), announced today that the two companies will work together to add mobile connectivity to Fundtech's CASHplus cash management system.
As demand for mobile financial services grows, financial institutions have begun to realize the untapped opportunities to remain competitive and increase customer loyalty through mobile commerce.
The effort will leverage Firethorn's mobile commerce platform, enabling CASHplus users to view account details, transfer funds and initiate bill payments. With this solution, corporate finance executives will have the ability to stay current with their banking and make time-sensitive decisions on the go. Fundtech plans to fully integrate Firethorn's technology into the CASHplus system, ensuring ease-of-use.
"Firethorn is excited to collaborate with Fundtech to expand our mobile platform to business users," said Firethorn Chief Executive Officer Tripp Rackley. "Our easy-to-use, scalable solution will allow executives to make important financial decisions simply and securely, and at a moment's notice."
The Firethorn application also provides multiple levels of security, including PIN authorization and lockout, which disables access if the phone is lost or stolen; data encryption; two-factor authentication and security via the Secure Sockets Layer (SSL) protocol.
According to Brian Jou, executive vice president of global product for Fundtech: "We selected Firethorn because of their wide distribution among mobile operators, which ensures the largest number of business users will have access to their time-critical banking information and services."
"Together with Fundtech, we look forward to exploring and serving this new market of business customers," added Rackley. "Firethorn's forward-looking strategy for mobile commerce and Fundtech's leading software development capabilities will help ensure the success of the mobile channel for numerous financial institutions and business units."