MFoundry, the award-winning provider of secure mobile financial solutions, announced today the sub-60 day launch of a fully integrated 3-mode mobile banking solution with First Tennessee Bank (a subsidiary of First Horizon National Corp.).
First Tennessee Bank's strategy is to differentiate based on a convenient and appealing experience. Rapidly executing technology-enabled improvements is one way FTB continues to improve its customer service and convenience.
"While we're used to launching banks within 90 days, this was something else entirely," noted mFoundry CEO and Co-Founder Drew Sievers. "FTB was the perfect partner, quickly marshaling their resources to create ideal levels of deployment synergy. 56 days later, we jointly released their new solution. They are an amazing customer."
For this effort, both parties worked to integrate the mFoundry platform into FTB's existing Interpose middleware from core services provider Fiserv. The result was a smooth deployment of the mFoundry software, delivering deep interactions on virtually any mobile device via the platform's support for text banking, mobile web, and mobile applications.
"We had heard horror stories about eternally delayed deployments by many of the other mobile solutions providers," commented First Horizon CIO Bruce Livesay. "So, we thought long and hard about who to work with in this space, and made the right decision to work with mFoundry. Frankly, I don't believe there was another company that could have gotten us to market this quickly."
Since the product launched, FTB has seen a furious pace of adoption. Leveraging an effective multi-touch marketing strategy ranging from in-branch efforts to targeted e-mail campaigns, FTB was able to achieve their annual mobile adoption goals within the first month of activity.
"With nearly 200 customers, we've seen a lot of efforts to promote mobile banking services," added Sievers. "Without a doubt, FTB has experienced one of the fastest rates of adoption that we have ever seen in a mobile banking deployment."
"We knew that the time was right for mobile banking," continued Livesay. "The quality of the product, the teamwork between our companies, and d the marketing were all tightly integrated. The results speak for themselves."