ACI Worldwide has announced that it will use mFoundry's Spotlight Financial Platform to offer mobile banking capabilities to users of its online business and consumer banking software.
The mobile banking solution will integrate mFoundry's award-winning downloadable application software with ACI Enterprise Banker, ACI's industry-leading online banking system. The solution will allow business and consumer online banking customers to use their cell phones and other wireless handheld devices to access real-time account information and other banking applications.
"We are pleased to partner with mFoundry to provide a single payments solution to our online banking customers," said Ralph Dangelmaier, president of ACI Worldwide Americas. "mFoundry partners with key players in the telecom and financial services industries resulting in a cross-platform, cross-carrier solution that provides the broadest device support available on the market."
As the number of mobile users continues to grow into the billions, financial institutions looking for an innovative payments solution to address this market can leverage the expertise of both companies. This solution will provide a direct link between a user's handheld device, their mobile communication carrier and the Enterprise Banker platform.
"ACI is the payments industry gold standard and we look forward to integrating our mobile services into their online banking solution," said Drew Sievers, CEO and co-founder of mFoundry. "The Spotlight Financial platform allows financial institutions to appropriately brand and design the look and feel of their offering, while maintaining consistency with their online banking solution. ACI's adoption of Spotlight reaffirms the market's preference for the equitable, flexible solutions offered by mFoundry."
The downloadable applications running directly on the mobile handsets will provide the best possible experience for end users while enabling banks to extend their brand. In an industry first, the two companies plan to develop business user access to additional applications for alerts of time-critical transactions and notification and release of transactions awaiting approval. Future mobile banking initiatives will include mobile remittance to allow users to transfer funds globally in a variety of currencies via their handset. Customers may also realize cost savings by reducing call center workflow via automated messaging and customer service alerts.
"Advancements in mobile network bandwidth and the enhanced data capabilities of mobile devices continue to build widespread end-user acceptance," said Dangelmaier. "As the market opportunity grows, we believe ACI, together with mFoundry, will lead the way with an innovative mobile banking solution that reflects the strengths of both companies."