ClairMail, Inc., the leader in mobile banking and payment solutions, today announced it had record customer growth in Q1 2011, with a record number of customer acquisitions compared to any previous quarter and a 300 percent increase in its user growth.
In addition to the rapid increase in customer growth, ClairMail gained notable market leadership through innovative advancements to its mobile banking platform with the launch of its mobile fraud management in Q1 2011. As a result of this strong momentum, ClairMail's customer roster now includes more than one third of the top 50 North American financial institutions.
Card fraud costs the U.S. card payments industry about $8.6 billion annually, according to Aite Group, and Javelin Strategy & Research recently reported that the average consumer out-of-pocket cost due to identity fraud increased by 63 percent per incident in 2010. Javelin reported that this increase may be due to changes in the types of fraud on the rise in 2010, including debit card fraud, highlighting the need for consumer and financial institution vigilance.
ClairMail has recognized the substantial growth of banking fraud and responded in Q1 2011 by enhancing its offerings with a new mobile fraud management solution. The solution allows FIs and their customers to quickly respond to fraudulent transactions directly through the mobile channel by working with existing FI fraud systems and processes to help mitigate card, Direct Deposit Account (DDA), online banking and identity fraud. The fraud solution is the first offering in a family of business-level solutions that will demonstrate how the mobile channel can power new mobile capabilities, products and packages across the entire enterprise.
"With our world-class team and best-of-breed, customizable mobile banking platform, we're in the best possible position to continue our rapid expansion, providing the top 500 U.S. and global financial institutions with a future-proof mobile banking solution," said Pete Daffern, ClairMail CEO. "This past quarter, we expanded our mobile banking services and offerings, propelling our huge customer growth and driving even more value for existing customers. We're committed to working with our customers to improve their customer acquisition and retention, reduce costs and drive new revenue opportunities through the mobile channel."