Cleveland-based KeyBank has chosen Mobile Money from Fiserv to support the bank’s strategic growth plans for the mobile channel.
A primary factor in the bank’s selection of Fiserv was the company’s ability to deliver a full range of customer-focused, innovative mobile solutions which will complement and easily integrate with the bank’s other services and infrastructures.
Mobile Money provides KeyBank with “triple play” technology that enables consumers to access their accounts using any of the three primary mobile access modes: a downloaded application, mobile browser, or SMS (text messaging). The text messaging capabilities are provided by VeriSign Messaging and Mobile Media, which successfully delivered more than 224 billion mobile messages through its networks in 2008.
“KeyBank’s challenge was to satisfy our near-term desire to offer customer mobile access and alerting, while putting in place a proven platform we could leverage into the future as we expand mobile banking and payment services for our customers,” says Allison Landers, senior vice president, Virtual Banking, KeyBank. “Fiserv demonstrated superior breadth of product and project implementation excellence. Mobile Money from Fiserv will enable KeyBank to reach the mobile devices of both our online and offline customers across all bank business lines, with the potential to reach our return-on-investment targets faster than other approaches we considered.”
“Fiserv clients tell us that reducing costs and improving customer retention metrics through engagement are among their top priorities for the mobile channel,” says Todd Lesher, division president, Electronic Banking Services, Fiserv. “Mobile Money from Fiserv can deliver real ROI by enabling financial institutions to migrate consumer and business transactions away from more costly channels such as the contact center and physical branch.”
L.D.