Mobile financial services leader, mFoundry today announced that Zions Bancorporation (NASDAQ: ZION) has selected mFoundry's financial services platform to power its mobile banking and payments offerings.
Zions Bancorporation is one of the 40 largest banking companies in the United States and a member of the S&P 500 Index and the NASDAQ Financial 100 Index, with more than $53 billion in assets as of June 2008.
The mFoundry platform will enable mobile banking and payments services for all of Zions' retail banking subsidiaries including Amegy Bank of Texas, California Bank & Trust, National Bank of Arizona, Nevada State Bank, The Commerce Bank of Oregon, The Commerce Bank of Washington, Vectra Bank Colorado and Zions First National Bank (Utah and Idaho), as well as Zions Direct (nationwide Web direct banking). Zions Bancorporation operates more than 500 banking offices in 10 Western and Southwestern states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Utah, Texas and Washington.
"We selected mFoundry on the basis of the superior security and flexibility of their offering," explained Carl Hoburg, senior vice president of eCommerce for Zions. "As the mFoundry platform integrates with our enterprise banking systems we can roll out branded offerings for our many individual retail banking franchises, allowing them to retain their distinctive local imprint. The integration of mobile authentication into our existing RSA / Passmark solution supports our 360 degree view of fraud and risk across all of our customer service channels."
"Zions Bancorporation is one of the nation's largest and most respected financial institutions," said Drew Sievers, chief executive officer and cofounder of mFoundry. "Their selection of mFoundry further supports the market's preference for more flexible and open mobile banking solutions. We are very pleased to be working with a leader and innovator like Zions."