BB&T has announced it is the first customer of a new partnership between ClairMail and mFoundry for mobile banking and mobile payment services. BB&T said that its "three-phase rollout of the new service is set to begin next month and is expected to be completed in the first quarter when a full menu of mobile banking options will be available to BB&T clients. The services include two-way mobile messaging, mobile Web access and mobile banking applications."
Under the terms of the partnership, the companies will co-market and sell an enhanced, combined solution which integrates the ClairMail System’s mobile banking and payments platform and applications with mFoundry’s Spotlight client-based application – delivering with a single implementation all three user interface types available for mobile banking, commerce and payments. BB&T, the nation’s 11th largest financial holding company, is the first financial institution to purchase the combined solution.
“We selected the partnership between ClairMail and mFoundry because their cutting-edge approach allows BB&T to use the leading mobile messaging, mobile Web and application solutions with a single integration,” said BB&T Electronic Delivery Channels Manager Barbara Duck. “We are passionate about providing our clients with better value through rational innovation in a highly profitable manner.”
The ClairMail/mFoundry solution will empower BB&T to provide its customers with banking functionality via a mobile application and integrated messaging services. The joint solution will securely and cost-effectively integrate with BB&T’s systems of record and enable a broad set of 2-way services – including account management, fraud mitigation, , and no-hold customer service.
Additionally, the ClairMail platform’s alerting engine will integrate with BB&T’s core systems to enable user-defined 2-way actionable alerts. BB&T customers will be empowered to set preferences for the type (e.g. low or zero balance, overdraft or cleared check alerts), frequency (e.g. automatically receive balances at the end of the day or week) and threshold (e.g. alerts when withdrawals or deposits exceed a specified amount) of alerts, and receive them in real-time. Given the 2-way nature of actionable alerts, BB&T customers will be able to resolve issues using their mobile phone, such as to transfer funds in response to a low balance alert.
The ClairMail/mFoundry solution supports the “triple play” of all user interface types available for mobile banking and payments. ClairMail developed the industry-standard messaging and mobile web applications that run on its platform using the software already built into virtually every mobile phone. The ClairMail platform also provides the integration, management and 2-way functionality to extend the capabilities of client applications like mFoundry’s. mFoundry’s leading Spotlight Financial Platform gives consumers access to full online banking functions with security on par with web banking best practices. The Spotlight mBanking application enables consumers to check account balances, view transactions, transfer funds and locate branches or ATMs. The joint solution offers speed to market, flexibility and customization, making it appealing to financial institutions of all sizes.
“mFoundry’s mBanking application has been selected by leading banks and wireless operators around the globe for its rich functionality, strong security and easy distribution and maintenance,” said Joseph Salesky, CEO of ClairMail. “We are thrilled to bring together mFoundry’s Spotlight Platform and the ClairMail System to enable the triple play of user interfaces for BB&T.”
“ClairMail’s platform combined with our Spotlight mBanking solution answers an industry need,” said Drew Sievers, CEO of mFoundry. “mFoundry’s feature-rich application combined with the ClairMail messaging, mobile web and 2-way capabilities will give BB&T one clear and easy solution.”