Firethorn Holdings, LLC, a Qualcomm company (Nasdaq:QCOM), and CU*Answers today announced the addition of CU*Answers to its emerging list of financial partners.
Representing 1.5 million members and $10 billion in assets, CU*Answers provides services to more than 175 credit unions nationally, further positioning Firethorn as a leading supplier of mobile financial services for the nation's top credit unions. The Credit Union Service Organization (CUSO) will begin offering Firethorn's mobile application to its clients beginning in late 2010 to complement their existing mobile web banking offerings that were released to credit unions earlier this year.
"Advancements in mobile banking are driving an increase in customer loyalty and retention for financial institutions," said Rocco Fabiano, president of Firethorn Holdings. "We are excited to help evolve CU*Answers' mobile strategy as it continues its tradition of providing members with the best possible experience."
"For 40 years, we have focused on offering customized services to our credit unions," said Randy Karnes, chief executive officer of CU*Answers. "Firethorn's front-end application provides members with the freedom to choose their preferred access method of managing their personal finances."
The collaborative agreement between Firethorn and CU*Answers will enable CU*Answers members to manage their finances through Firethorn's application platform and upcoming Short Message Service (SMS) solution, and adds the additional functionality of mobile bill payment if offered by the credit union. The new mobile banking platform will give members the freedom to access accounts conveniently on the go, using comprehensive encryption services. Users can conveniently perform the following functions from their mobile device:
* View account balances and details for savings, checking, certificates, loans and credit cards
* View pending transactions
* Perform instant transfers between accounts