Fiserv (NASDAQ: FISV), the leading global provider of financial services technology solutions, today announced that SunTrust Banks (NYSE: STI) has selected Mobile Money from Fiserv to provide their clients with broader access to mobile financial services.
SunTrust will use Mobile Money to enable clients to access their accounts using SMS (text messaging) or mobile browser technology, complementing a separate downloadable application that is already available. Additionally, clients will be able to sign up for a variety of account alerts.
"The selection of Mobile Money from Fiserv is another step toward the fulfillment of our overall mobile financial services strategy," said Ginger Schmeltzer, senior vice president, SunTrust Bank. "It is important to offer each of our clients the ability to easily access their account regardless of the type of mobile device they use. We also want to enable clients to more proactively manage their accounts through customized account alerts. Mobile Money will allow us to deliver both robust access and a rich set of alerts."
"SunTrust has a solid reputation for providing reliable service," said Todd Lesher, president, Electronic Banking Services, Fiserv. "Mobile Money from Fiserv will enable SunTrust to make interacting through the mobile channel even easier for their clients, and there is potential for a substantial return on investment as use of the channel grows."
The selection of Mobile Money represents an expansion of an existing relationship, as SunTrust already utilizes consumer online banking and bill payment solutions from Fiserv.
Mobile Money from Fiserv is the industry's most complete mobile banking and payments solution, supporting users on all three mobile access modes, offering online and offline enrollment capabilities and integrating with core banking, online banking and electronic payments systems.
Available in a licensed or hosted version, Mobile Money 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. Mobile Money is a secure application that utilizes data encryption, along with additional risk management safeguards.
Mobile Money from Fiserv incorporates technology from Atlanta-based mobile banking and payments solution provider M-Com.